Document:

Exhibit 10.1

 

CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS EXHIBIT,

MARKED BY [***], HAS BEEN OMITTED PURSUANT TO REGULATION S-K, ITEM
601(b)(10)

BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY
DISCLOSED.

 

EXECUTION VERSION

 

This
agreement and the rights and obligations evidenced hereby (INCLUDING ALL LIENS GRANTED PURSUANT HERETO) are subordinate in the manner
and to the extent set forth in that certain Intercreditor aND SUBORDINATION Agreement (as the same may be amended, restated, supplemented
or otherwise modified from time to time pursuant to the terms thereof, THE “INTERCREDITOR Agreement”), dated JANUARY
28, 2022, among summer infant, inc., a Delaware corporation AND summer infant (usa) inc., a RHODE
ISLAND CORPORATION (COLLECTIVELY, the “borrowerS”), wynnefield capital, INc.,
in its capacity as agent UNDER THIS LOAN and security CREDIT AGREEMENT (the “Subordinated Agent”) and bank of america,
n.a., in its capacity as agent UNDER THE First Lien LOAN AGREEMENT REFERENCED HEREIN (the “First Lien Agent”), to the
indebtedness OF the BorrowerS and the liens GRANTED pursuant to that certain THIRD AMENDED AND RESTATED LOAN AND SECURITY Agreement, dated
OCTOBER 15, 2020, among THE Borrower, SI USA, the lenders party thereto, and the FIRST LIEN Agent and the First LIen Loan Documents, as
such Credit Agreement and First Lien Loan Documents may be amended, restated, supplemented or otherwise modified from time to time, AND
ANY INDEBTEDNESS REFINANCING THE SAME AS CONTEMPLATED BY THE INTERCREDITOR AGREEMENT; and each party to this agreement, by its execution
hereof, irrevocably agrees to be bound by the provisions of the INTERCREDITOR Agreement.

 

 

SUMMER INFANT, INC., and

 

SUMMER INFANT (USA), INC.,

 

as Borrowers, and

 

THE GUARANTORS FROM TIME TO TIME PARTY HERETO

 

 

LOAN AND SECURITY AGREEMENT

 

Dated as of January 28, 2022

 

 

CERTAIN FINANCIAL INSTITUTIONS,

 

as Lenders

 

and

 

WYNNEFIELD CAPITAL, INC.,

 

as Agent

 

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	 	 	Page
	 	 	 	 	 
	Section 1.	 	DEFINITIONS; RULES OF CONSTRUCTION	1
	 	 	 	 	 
	1.1.	Definitions	1
	1.2.	Accounting Terms	24
	1.3.	Uniform Commercial Code	24
	1.4.	Certain Matters of Construction	24
	1.5.	Currency Equivalents	25
	 	 	 	 	 
	 	 	1.5.1.	Calculations	25
	 	 	1.5.2.	Judgments	25
	 	 	 	 	 
	Section 2.	 	CREDIT FACILITIES	25
	 	 	 	 	 
	2.1.	Standby Term Loan Commitments	25
	 	 	 	 	 
	 	 	2.1.1.	Standby Term Loans	25
	 	 	2.1.2.	Notes	25
	 	 	2.1.3.	Use of Proceeds	25
	 	 	2.1.4.	Termination and Reduction of Standby Term Loan Commitments	26
	 	 	 	 	 
	Section 3.	 	INTEREST, FEES AND CHARGES	26
	 	 	 	 	 
	3.1.	Interest	26
	3.2.	Fees	26
	 	 	 
	 	 	3.2.1.	Unused Line Fee	26
	 	 	3.2.2.	Fee Letters	26
	 	 	3.2.3.	Termination Fee	26
	 	 	 	 	 
	3.3.	Computation of Interest, Fees, Yield Protection	27
	3.4.	Reimbursement Obligations	27
	3.5.	[Reserved	27
	3.6.	[Reserved]	27
	3.7.	[Reserved]	27
	3.8.	[Reserved]	27
	3.9.	[Reserved]	27
	3.10.	Maximum Interest	27
	 	 	 	 	 
	Section 4.	 	LOAN ADMINISTRATION	28
	 	 	 	 	 
	4.1.	Manner of Borrowing and Funding of Standby Term Loans	28
	 	 	 	 	 
	 	 	4.1.1.	Notice of Borrowing	28
	 	 	4.1.2.	Fundings by Lenders	28
	 	 	4.1.3.	Notices	28
	 	 	 	 	 
	4.2.	Defaulting Lender	28
	 	 	 	 	 
	 	 	4.2.1.	Reallocation of Applicable Percentage; Amendments	28
	 	 	4.2.2.	Payments; Fees	28
	 	 	4.2.3.	Cure	29
	 	 	 	 	 
	4.3.	[Reserved]	29

 

     

     

    

 

	4.4.	Borrower Agent	29
	4.5.	One Obligation	29
	4.6.	Effect of Termination	29
	 	 	 	 	 
	Section 5.	 	PAYMENTS	 	29
	 	 	 	 	 
	5.1.	General Payment Provisions	29
	5.2.	[Reserved]	29
	5.3.	Repayment of Standby Term Loans; Prepayments	30
	 	 	 	 	 
	 	 	5.3.1.	Payment of Principal	30
	 	 	5.3.2.	Prepayments	30
	 	 	5.3.3.	Application of Prepayments	30
	 	 	 	 	 
	5.4.	Payment of Other Obligations	30
	5.5.	Marshaling; Payments Set Aside	30
	5.6.	Application and Allocation of Payments	30
	 	 	 	 	 
	 	 	5.6.1.	Application	30
	 	 	5.6.2.	Post-Default Allocation	31
	 	 	5.6.3.	Erroneous Application	31
	 	 	 	 	 
	5.7.	Dominion Accounts	31
	5.8.	Account Stated	32
	5.9.	Taxes.	32
	 	 	 	 	 
	 	 	5.9.1.	Payments Free of Taxes; Obligation to Withhold; Tax Payment	32
	 	 	5.9.2.	Payment of Other Taxes	32
	 	 	5.9.3.	Tax Indemnification	32
	 	 	5.9.4.	Evidence of Payments	33
	 	 	5.9.5.	Treatment of Certain Refunds	33
	 	 	5.9.6.	Survival	33
	 	 	 	 	 
	5.10.	Lender Tax Information.	33
	 	 	 	 	 
	 	 	5.10.1.	Status of Lenders	33
	 	 	5.10.2.	Documentation	34
	 	 	5.10.3.	Redelivery of Documentation	35
	 	 	 	 	 
	5.11.	Nature and Extent of Each Borrower’s Liability	35
	 	 	 	 	 
	 	 	5.11.1.	Joint and Several Liability	35
	 	 	5.11.2.	Waivers.	35
	 	 	5.11.3.	Extent of Liability; Contribution.	36
	 	 	5.11.4.	Joint Enterprise	36
	 	 	5.11.5.	Subordination	37
	 	 	 	 	 
	Section 6.	 	CONDITIONS PRECEDENT	37
	 	 	 	 	 
	6.1.	Conditions Precedent to Initial Loans	37
	6.2.	Conditions Precedent to All Credit Extensions	39
	6.3.	Conditions Subsequent	39
	 	 	 	 	 
	Section 7.	 	COLLATERAL	39
	 	 	 	 	 
	7.1.	Grant of Security Interest	39
	7.2.	Lien on Deposit Accounts; Cash Collateral	41

 

     

     

    

 

	 	 	7.2.1.	Deposit Accounts	41
	 	 	7.2.2.	Cash Collateral	41
	 	 	 	 	 
	7.3.	[Reserved]	41
	7.4.	Other Collateral	41
	 	 	 	 	 
	 	 	7.4.1.	Commercial Tort Claims	41
	 	 	7.4.2.	Certain After-Acquired Collateral	42
	 	 	 	 	 
	7.5.	No Assumption of Liability	42
	7.6.	Further Assurances	42
	 	 	 	 	 
	Section 8.	 	COLLATERAL ADMINISTRATION	42
	 	 	 	 	 
	8.1.	[Reserved]	42
	8.2.	Administration of Accounts	42
	 	 	 	 	 
	 	 	8.2.1.	Maintenance of Dominion Accounts	42
	 	 	8.2.2.	Proceeds of Collateral	42
	 	 	 	 	 
	8.3.	Administration of Inventory	43
	 	 	 	 	 
	 	 	8.3.1	 Records and Reports of Inventory	43
	 	 	8.3.2	Returns of Inventory	43
	 	 	8.3.3	Acquisition, Sale and Maintenance	43
	 	 	 	 	 
	8.4.	Administration of Equipment	43
	 	 	 	 	 
	 	 	8.4.1.	Records and Schedules of Equipment	43
	 	 	8.4.2.	Dispositions of Equipment	43
	 	 	8.4.3 	Condition of Equipment	43
	 	 	 	 	 
	8.5.	Administration of Deposit Accounts	43
	8.6 	General Provisions	44
	 	 	 	 	 
	 	 	8.5.1.	Location of Collateral	44
	 	 	8.5.2.	Insurance of Collateral; Condemnation Proceeds	44
	 	 	8.5.3.	Protection of Collateral	44
	 	 	8.5.4.	Defense of Title	44
	 	 	 	 	 
	8.6.	Power of Attorney	45
	 	 	 	 	 
	Section 9.	 	REPRESENTATIONS AND WARRANTIES	45
	 	 	 	 	 
	9.1.	General Representations and Warranties	45
	 	 	 	 	 
	 	 	9.1.1.	Organization and Qualification	45
	 	 	9.1.2.	Power and Authority	45
	 	 	9.1.3.	Enforceability	45
	 	 	9.1.4.	Capital Structure	46
	 	 	9.1.5.	Title to Properties; Priority of Liens	46
	 	 	9.1.6.	[Reserved]	46
	 	 	9.1.7.	Financial Statements	46
	 	 	9.1.8.	Surety Obligations	47
	 	 	9.1.9.	Taxes	47
	 	 	9.1.10.	Brokers	47
	 	 	9.1.11.	Intellectual Property	47
	 	 	9.1.12.	Governmental Approvals	47

 

     

     

    

 

	 	 	9.1.13.	Compliance with Laws	47
	 	 	9.1.14.	Compliance with Environmental Laws	48
	 	 	9.1.15.	Burdensome Contracts	48
	 	 	9.1.16.	Litigation	48
	 	 	9.1.17.	No Defaults	49
	 	 	9.1.18.	ERISA	49
	 	 	9.1.19.	Trade Relations	50
	 	 	9.1.20.	Labor Relations	50
	 	 	9.1.21.	Payable Practices	50
	 	 	9.1.22.	Not a Regulated Entity	50
	 	 	9.1.23.	Margin Stock	50
	 	 	9.1.24.	OFAC	50
	 	 	9.1.25.	Beneficial Ownership Certification	50
	 	 	9.1.26.	Centre of Main Interests and Establishments	50
	 	 	9.1.27.	[Reserved]	51
	 	 	9.1.28.	CARES Debt	51
	 	 	 	 	 
	9.2.	Complete Disclosure	51
	 	 	 	 	 
	Section 10.	 	COVENANTS AND CONTINUING AGREEMENTS	51
	 	 	 	 	 
	10.1.	Affirmative Covenants	51
	 	 	 	 	 
	 	 	10.1.1.	Inspections	51
	 	 	10.1.2.	Financial and Other Information	51
	 	 	10.1.3.	Notices	53
	 	 	10.1.4.	Landlord and Storage Agreements	54
	 	 	10.1.5.	Compliance with Laws	54
	 	 	10.1.6.	Taxes	54
	 	 	10.1.7.	Insurance	54
	 	 	10.1.8.	Licenses	54
	 	 	10.1.9.	Future Subsidiaries	54
	 	 	10.1.10.	Ongoing Obligation	55
	 	 	10.1.11.	People with Significant Control regime	55
	 	 	10.1.12.	Centre of Main Interests	55
	 	 	10.1.13.	[Reserved]	55
	 	 	10.1.14.	[Reserved]	55
	 	 	10.1.15.	CARES Debt	55
	 	 	 	 	 
	10.2.	Negative Covenants	56
	 	 	 	 	 
	 	 	10.2.1.	Permitted Debt	56
	 	 	10.2.2.	Permitted Liens	57
	 	 	10.2.3.	Anti-Layering	59
	 	 	10.2.4.	Distributions; Upstream Payments	60
	 	 	10.2.5.	Restricted Investments	60
	 	 	10.2.6.	Disposition of Assets	60
	 	 	10.2.7.	Loans	60
	 	 	10.2.8.	Restrictions on Payment of Certain Debt	60
	 	 	10.2.9.	Fundamental Changes	60
	 	 	10.2.10.	Subsidiaries	60
	 	 	10.2.11.	Organic Documents	60
	 	 	10.2.12.	Tax Consolidation	61
	 	 	10.2.13.	Accounting Changes	61
	 	 	10.2.14.	Restrictive Agreements	61
	 	 	10.2.15.	Hedging Agreements	61
	 	 	10.2.16.	Conduct of Business	61
	 	 	10.2.17.	Affiliate Transactions	61

 

     

     

    

 

	 	 	10.2.18.	Plans	61
	 	 	10.2.19.	Amendments to First Lien Debt and Subordinated Debt	61
	 	 	10.2.20.	Amendments to CARES Debt	62
	 	 	 	 	 
	10.3.	Financial Covenants.	62
	 	 	 	 	 
	 	 	10.3.1.	Fixed Charge Coverage Ratio	62
	 	 	10.3.2.	Minimum Availability	62
	 	 	10.3.3.	Minimum EBIDTA	62
	 	 	 	 	 
	10.4.	Restrictions on Activities of Company	63
	10.5.	Restrictions on Activities of Foreign Subsidiaries	63
	 	 	 	 	 
	Section 11.	 	EVENTS OF DEFAULT; REMEDIES ON DEFAULT	63
	 	 	 	 	 
	11.1.	Events of Default	63
	11.2.	Remedies upon Default	66
	11.3.	License	66
	11.4.	Setoff	66
	11.5.	Remedies Cumulative; No Waiver	67
	 	 	 	 	 
	 	 	11.5.1.	Cumulative Rights	67
	 	 	11.5.2.	Waivers	67
	 	 	 	 	 
	Section 12.	 	AGENT	67
	 	 	 	 	 
	12.1.	Appointment, Authority and Duties of Agent	67
	 	 	 	 	 
	 	 	12.1.1.	Appointment and Authority	67
	 	 	12.1.2.	Duties	67
	 	 	12.1.3.	Agent Professionals	67
	 	 	12.1.4.	Instructions of Required Lenders	68
	 	 	 	 	 
	12.2.	Agreements Regarding Collateral and Borrower Materials	68
	 	 	 	 	 
	 	 	12.2.1.	Lien Releases; Care of Collateral	68
	 	 	12.2.2.	Possession of Collateral	68
	 	 	12.2.3.	Reports	68
	 	 	 	 	 
	12.3.	Reliance By Agent	69
	12.4.	Action Upon Default	69
	12.5.	Ratable Sharing	69
	12.6.	Indemnification	69
	12.7.	Limitation on Responsibilities of Agent	70
	12.8.	Successor Agent and Co-Agents	70
	 	 	 	 	 
	 	 	12.8.1.	Resignation; Successor Agent	70
	 	 	12.8.2.	Co-Collateral Agent	70
	 	 	 	 	 
	12.9.	Due Diligence and Non-Reliance	71
	12.10.	Remittance of Payments and Collections	71
	 	 	 	 	 
	 	 	12.10.1.	Remittances Generally	71
	 	 	12.10.2.	Failure to Pay	71
	 	 	12.10.3.	Recovery of Payments	71
	 	 	 	 	 
	12.11.	Individual Capacities	71
	12.12.	Titles	71

 

     

     

    

 

	 	 	12.13.1.	Lender Representations	72
	 	 	12.13.2.	Further Lender Representation	72
	 	 	 	 	 
	12.14.	 	 [Reserved]	72
	12.15.	 	 No Third Party Beneficiaries	72
	 	 	 	 	 
	Section 13.	 	BENEFIT OF AGREEMENT; ASSIGNMENTS	72
	 	 	 	 	 
	13.1.	Successors and Assigns	72
	13.2.	Participations	73
	 	 	 	 	 
	 	 	13.2.1.	Permitted Participants; Effect	73
	 	 	13.2.2.	Voting Rights	73
	 	 	13.2.3.	Participant Register	73
	 	 	13.2.4.	Benefit of Set-Off	73
	 	 	 	 	 
	13.3.	Assignments	73
	 	 	 	 	 
	 	 	13.3.1.	Permitted Assignments	73
	 	 	13.3.2.	Effect; Effective Date	74
	 	 	13.3.3.	Certain Assignees	74
	 	 	13.3.4.	Register	74
	 	 	 	 	 
	13.4.	Replacement of Certain Lenders	74
	 	 	 	 	 
	Section 14.	 	THE GUARANTEE	74
	 	 	 	 	 
	14.1.	Guarantee	74
	14.2.	Obligations Unconditional	75
	14.3.	Reinstatement	75
	14.4.	Subrogation	76
	14.5.	Remedies	76
	14.6.	Instrument for the Payment of Money	76
	14.7.	Continuing Guarantee	76
	14.8.	General Limitation on Amount of Obligations Guaranteed	76
	14.9.	Joint Enterprise	76
	14.10.	Subordination	76
	 	 	 	 	 
	Section 15.	 	MISCELLANEOUS	77
	 	 	 	 	 
	15.1.	Consents, Amendments and Waivers	77
	 	 	 	 	 
	 	 	15.1.1.	Amendment	77
	 	 	15.1.2.	Limitations	77
	 	 	15.1.3.	Payment for Consents	77
	 	 	 	 	 
	15.2.	Indemnity	77
	15.3.	Notices and Communications	78
	15.4.	Performance of Obligors’ Obligations	78
	15.5.	Credit Inquiries	79
	15.6.	Severability	79
	15.7.	Cumulative Effect; Conflict of Terms	79
	15.8.	Counterparts	79
	15.9.	Entire Agreement	79
	15.10.	Relationship with Lenders	79
	15.11.	No Advisory or Fiduciary Responsibility	79
	15.12.	Confidentiality	80
	15.13.	GOVERNING LAW	80

 

     

     

    

 

	15.14.	Consent to Forum	80
	15.15.	Waivers by Obligors	81
	15.16.	Patriot Act Notice	81
	15.17.	Canadian Anti-Money Laundering Legislation	82
	15.18.	[Reserved]	82
	15.19.	Acknowledgement Regarding Any Supported QFCs	82
	15.20	Intercreditor Agreement	83

 

     

     

    

 

LIST
OF EXHIBITS AND SCHEDULES

 

	Exhibit A	Assignment and Acceptance
	Exhibit B	Assignment Notice
	 	 
	Schedule 1.1(a)	Commitments of Lenders
	Schedule 1.1(b)	Accruals
	Schedule 8.5	Deposit Accounts
	Schedule 8.6.1	Business Locations
	Schedule 9.1.4	Names and Capital Structure
	Schedule 9.1.5	Title to Properties; Liens
	Schedule 9.1.8	Surety Obligations
	Schedule 9.1.10	Brokers
	Schedule 9.1.11	Patents, Trademarks, Copyrights and Licenses
	Schedule 9.1.13	Compliance with Laws
	Schedule 9.1.14	Environmental Matters
	Schedule 9.1.15	Restrictive Agreements
	Schedule 9.1.16	Litigation
	Schedule 9.1.18	Pension Plans
	Schedule 9.1.20	Labor Contracts
	Schedule 10.2.1	Existing Debt
	Schedule 10.2.2	Permitted Liens
	Schedule 10.2.17	Existing Affiliate Transactions

 

     

     

    

 

LOAN
AND SECURITY AGREEMENT

 

THIS LOAN AND SECURITY
AGREEMENT dated as of January 28, 2022 (this “Agreement”), among SUMMER INFANT, INC., a
Delaware corporation (the “Company”), SUMMER INFANT (USA), INC. a Rhode Island corporation (“SI USA”,
and together with Company, collectively, “Borrower”), THE GUARANTORS FROM TIME TO TIME PARTY HERETO, the financial
institutions from time to time party to this Agreement from time to time as lenders (collectively, “Lenders”) and WYNNEFIELD
CAPITAL, INC., a Delaware corporation, as agent and security trustee for the Lenders (“Agent”).

 

R E C I T A L S:

 

The Borrowers and Bank of
America, N.A. (as administrative agent, in such capacity, the “First Lien Agent” as hereinafter further defined) for
itself and the other lenders from time to time party thereto (collectively, the “First Lien Lenders” as hereinafter
further defined) are parties to a certain Third Amended and Restated Loan and Security Agreement, dated as of October 15, 2020 (as
amended to date, and as may be further amended, amended and restated, supplemented, or otherwise modified from time to time, the “First
Lien Loan Agreement”), pursuant to which the First Lien Lenders, have made loans and advances and provided other financial accommodations
to the Borrowers; and

 

Borrowers have requested that
Lenders provide a term loan facility to Borrowers to finance their mutual and collective business enterprise of the Borrowers and the
other Obligors. Lenders are willing to provide the credit facility on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, for
valuable consideration hereby acknowledged, the parties agree as follows:

 

Section 1.     DEFINITIONS;
RULES OF CONSTRUCTION

 

1.1.            Definitions.
As used herein, the following terms have the meanings set forth below:

 

Account: as defined
in the UCC, including all rights to payment for goods sold or leased, or for services rendered.

 

Account Debtor: a Person
obligated under an Account Chattel Paper, General Intangible or Intangible.

 

Acquisition: a transaction
or series of transactions resulting in (a) acquisition of a business, division, or substantially all assets of a Person; (b) record
or beneficial ownership of 50% or more of the Equity Interests of a Person; or (c) merger, amalgamation, consolidation or combination
of the Company or SI USA or a Subsidiary with another Person.

 

Affiliate: with respect
to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under
common Control with the Person specified.

 

Agent Indemnitees:
Agent and its officers, directors, employees, Affiliates, agents and attorneys.

 

Agent Professionals:
attorneys, accountants, appraisers, auditors, business valuation experts, environmental engineers or consultants, field examiners, turnaround
consultants, and other professionals and experts retained by Agent.

 

Agreement Currency:
as defined in Section 1.5.

 

    1 

     

    

 

Allocable Amount: as
defined in Section 5.11.3.

 

Anti-Corruption Laws:
means laws relating to anti-bribery or anti-corruption (governmental or commercial) which apply to any Obligor, including laws that prohibit
the corrupt payment, offer, promise, or authorization of the payment or transfer of anything of value (including gifts or entertainment),
directly or indirectly, to any foreign government official, foreign government employee or commercial entity to obtain a business advantage;
including the FCPA, and all national and international laws enacted to implement the OECD Convention on Combating Bribery of Foreign Officials
in International Business Transactions.

 

Anti-Terrorism Law:
any law relating to terrorism or money laundering, including the Patriot Act, the Canadian Anti-Money Laundering & Anti-Terrorism
Legislation and the UK Anti-Terrorism Laws.

 

Applicable Law: all
laws, rules, regulations and governmental guidelines applicable to the Person, conduct, transaction, agreement or matter in question,
including all applicable statutory law, common law and equitable principles, and all provisions of constitutions, treaties, statutes,
rules, regulations, orders and decrees of Governmental Authorities, and including, without limitation, the CPSC Regulations.

 

Applicable Percentage:
with respect to any Lender, a percentage equal to a fraction the numerator of which is such Lender’s Standby Term Loan Commitment
and the denominator of which is the aggregate Standby Term Loan Commitments (provided, that if the Standby Term Loan Commitments have
terminated or expired, each Lender’s Applicable Percentage shall be determined based upon such Lender’s share of the aggregate
outstanding principal amount of Standby Term Loans at such time).

 

Approved Fund: any
Person (other than a natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar
extensions of credit in its ordinary course of activities, and is administered or managed by a Lender, an entity that administers or manages
a Lender, or an Affiliate of either.

 

Asset Disposition:
a sale, lease, license, consignment, transfer or other disposition of Property of an Obligor, including a disposition of Property in connection
with a sale-leaseback transaction, synthetic lease or statutory division of a limited liability company.

 

Assignment and Acceptance:
an assignment agreement between a Lender and Eligible Assignee, in the form of Exhibit A.

 

Availability Period:
means the period from and including the Effective Date to the earliest of (a) August 31, 2023, (b) the date on which Borrower
terminates the Standby Term Loan Commitments pursuant to Section 2.1.4; or (c) the date on which the Standby Term Loan
Commitments are terminated pursuant to Section 11.2.

 

Bankruptcy Code: Title
11 of the United States Code.

 

Beneficial Ownership Certification:
a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.

 

Beneficial Ownership Regulation:
31 C.F.R. §1010.230.

 

Benefit Plan: any (a) employee
benefit plan (as defined in ERISA) subject to Title I of ERISA, (b) plan (as defined in and subject to Section 4975 of the Code),
or (c) Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975
of the Code) the assets of any such employee benefit plan or plan.

 

    2 

     

    

 

Blocked Person: means
any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224; (b) a
Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the
provisions of, Executive Order No. 13224; (c) a Person with which any Lender is prohibited from dealing or otherwise engaging
in any transaction by any Anti-Terrorism Law; (d) a Person that commits, threatens or conspires to commit or supports “terrorism”
as defined in Executive Order No. 13224; or (e) a Person that is named on the most current OFAC Lists.

 

Board of Governors:
the Board of Governors of the Federal Reserve System.

 

Borrowed Money: with
respect to any Obligor, without duplication, its (a) Debt that (i) arises from the lending of money by any Person to such Obligor,
(ii) is evidenced by notes, drafts, bonds, debentures, credit documents or similar instruments, (iii) accrues interest or is
a type upon which interest charges are customarily paid (excluding trade payables owing in the Ordinary Course of Business), or (iv) was
issued or assumed as full or partial payment for Property; (b) Capital Leases; (c) unreimbursed reimbursement obligations with
respect to letters of credit; and (d) guaranties of any Debt of the foregoing types owing by another Person.

 

Borrower Agent: as
defined in Section 4.4.

 

Borrower Materials:
means information, reports, financial statements and other materials delivered by Borrowers hereunder, as well as other Reports and information
provided by Agent to Lenders.

 

Borrowing: a group
of Loans that are made on the same day.

 

Business Day: any day
other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the laws of, or are in fact closed
in New York.

 

Canadian Anti-Money Laundering &
Anti-Terrorism Legislation: Part II.1 of the Criminal Code, R.S.C. 1985, c. C-46, the Proceeds of Crime Act and the United
Nations Act, R.S.C. 1985, c. U-2 or any similar Canadian legislation, together with all rules, regulations and interpretations thereunder
or related thereto including, without limitation, the Regulations Implementing the United Nations Resolutions on the Suppression of
Terrorism and the Regulations Implementing the United Nations Resolutions on Taliban, ISIL (Da’esh) and Al-Qaida promulgated
under the United Nations Act.

 

Canadian Subsidiary:
any Subsidiary of Company that is organized under the federal laws of Canada or any province or territory thereof.

 

Capital Expenditures:
all liabilities incurred or expenditures made by a Borrower or Subsidiary for the acquisition of fixed assets, or any improvements, replacements,
substitutions or additions thereto with a useful life of more than one year.

 

Capital Lease: any
lease of property by an Obligor or any of its Subsidiaries which, in accordance with GAAP, should be reflected as a capital lease on the
consolidated balance sheet of the Obligors and their Subsidiaries.

 

CARES Account: has
the meaning set forth in Section 10.1.15(e).

 

CARES Act - Title I:
means Title I of the Coronavirus Aid, Relief and Economic Security Act, (H.R. 6074, H.R. 6201, H.R. 748 and H.R. 266 (116), as amended
(including any successor thereto), and all requests, rules, guidelines, requirements and directives thereunder or issued in connection
therewith or in implementation thereof, regardless of the date enacted, adopted, issued or implemented.

 

    3 

     

    

 

CARES Act Permitted Purposes:
means, with respect to the use of proceeds of any CARES Debt, the purposes set forth in Section 1106(b) of the CARES Act –
Title I and otherwise in compliance with all other provisions or requirements of the CARES Act – Title I applicable in order for
the entire amount of the CARES Debt to be eligible for forgiveness.

 

CARES Debt: has the
meaning set forth in Section 10.2.1(m).

 

CARES Forgiveness Date:
means five (5) Business Days after the date that the Borrowers obtain a final determination by the lender of the CARES Debt (and,
to the extent required, the Small Business Administration) (or such longer period as may be approved in writing by Agent) regarding the
amount of CARES Debt, if any, that will be forgiven pursuant to the provisions of the CARES Act - Title I.

 

CARES Unforgiven Debt:
means that amount of the CARES Debt that (x) has been determined by the lender of the CARES Debt (or the Small Business Administration)
to be ineligible for forgiveness pursuant to the provisions of the CARES Act - Title I; provided, that if such determination has
not been made on or before the date that is twelve (12) months after the date of incurrence of the CARES Debt (or such longer period as
may be approved in writing by Agent), all such CARES Debt shall be deemed “CARES Unforgiven Debt” until such time as a final
determination is made by the lender of the CARES Debt (and, to the extent required, the Small Business Administration), (y) either
(i) the CARES Debt (or the applicable portion thereof) is deemed CARES Unforgiven Debt if (1) Obligors do not timely file an
application for forgiveness or do not include any portion of the CARES Debt in an application for forgiveness, (2) Borrowers give
notice to the Agent that the CARES Debt will be CARES Unforgiven Debt, or (3) the Agent obtains actual knowledge that the CARES Debt
will be CARES Unforgiven Debt.

 

Cash Collateral: cash,
and any interest, dividends, proceeds or other income earned thereon, that is delivered to Agent to Cash Collateralize any Obligations.

 

Cash Collateral Account:
a demand deposit, money market or other account established by Agent at such financial institution as Agent may select in its discretion,
which account shall be subject to a Lien in favor of Agent.

 

Cash Collateralize:
the delivery of cash to Agent, as security for the payment of Obligations, in an amount equal to Agent’s good faith estimate of
the amount that is due or could become due, including all fees, expenses, indemnification payments and other amounts relating to such
Obligations. “Cash Collateralization” has a correlative meaning.

 

Cash Equivalents: (a) marketable
obligations issued or unconditionally guaranteed by, and backed by the full faith and credit of, the United States, Canadian, the United
Kingdom or English government, maturing within 12 months of the date of acquisition; (b) certificates of deposit, time deposits and
bankers’ acceptances maturing within 12 months of the date of acquisition, and overnight bank deposits, in each case which are issued
by a commercial bank organized under the laws of the United States, Canada, the United Kingdom or England or any state, province or district
thereof, rated A-1 (or better) by S&P or P-1 (or better) by Moody’s at the time of acquisition, and (unless issued by a Lender)
not subject to offset rights; (c) repurchase obligations with a term of not more than 30 days for underlying investments of the types
described in clauses (a) and (b) entered into with any bank described in clause (b); (d) commercial paper rated A-1 (or
better) by S&P or P-1 (or better) by Moody’s, and maturing within nine months of the date of acquisition; and (e) shares
of any money market fund that has substantially all of its assets invested continuously in the types of investments referred to above,
has net assets of at least $500,000,000 and has the highest rating obtainable from either Moody’s or S&P.

 

Casualty Event: means
casualty or other insured damage to, or any taking under power of eminent domain or by condemnation, expropriation or similar proceeding
of (and payments in lieu thereof), any property or asset of an Obligor.

 

    4 

     

    

 

CERCLA: the Comprehensive
Environmental Response Compensation and Liability Act (42 U.S.C. § 9601 et seq.).

 

Change in Law: the
occurrence, after the date hereof, of (a) the adoption, taking effect or phasing in of any law, rule, regulation or treaty; (b) any
change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof; or (c) the making,
issuance or application of any request, guideline, requirement or directive (whether or not having the force of law) by any Governmental
Authority; provided, however, that “Change in Law” shall include, regardless of the date enacted, adopted or
issued, all requests, guidelines, requirements or directives (i) under or relating to the Dodd-Frank Wall Street Reform and Consumer
Protection Act or any European equivalent regulation (such as the European Market and Infrastructure Regulation), or (ii) promulgated
pursuant to Basel III by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any similar authority)
or any other Governmental Authority including CRD IV.

 

Change of Control:
an event or series of events by which:

 

(a)            any
 "person" or "group" (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee,
agent or other fiduciary or administrator of any such plan) becomes the "beneficial owner" (as defined in Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have "beneficial ownership"
of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the
passage of time (such right, an "option right")), directly or indirectly, of 45% or more of the Equity Interests of a
Borrower entitled to vote for members of the board of directors or equivalent governing body of such Borrower on a fully-diluted basis
(and taking into account all such Equity Interests that such person or group has the right to acquire pursuant to any option right);

 

(b)            during
any period of 12 consecutive months, a majority of the members of the board of directors or other equivalent governing body of a Borrower
cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period,
(ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above
constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose
election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and
(ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body
(excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office
as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents
for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more
directors by or on behalf of the board of directors);

 

(c)            Company
ceases to own, directly or indirectly, 100% of the Equity Interests of any Subsidiary (other than Subsidiaries that are joint ventures
permitted under this Agreement);

 

(d)            a
Borrower ceases to own, directly or indirectly 100% of the Equity Interests of any Guarantor or other Subsidiary (other than Subsidiaries
that are joint ventures permitted under this Agreement);

 

(e)            any
 “Change of Control” or similar event, as defined in the First Lien Loan Agreement or any other First Lien Loan Documents shall
have occurred; or

 

    5 

     

    

 

(f)            the
sale or transfer of all or substantially all of an Obligor’s assets except to another Obligor.

 

Claims: all claims,
liabilities, obligations, losses, damages, penalties, judgments, proceedings, interest, costs and expenses of any kind (including remedial
response costs, reasonable attorneys’ fees and Extraordinary Expenses) at any time (including after Full Payment of the Obligations
or replacement of Agent or any Lender) incurred by any Indemnitee or asserted against any Indemnitee by any Obligor or other Person, in
any way relating to (a) any Loans, Loan Documents, Borrower Materials, or the use thereof or transactions relating thereto, (b) any
action taken or omitted in connection with any Loan Documents, (c) the existence or perfection of any Liens, or realization upon
any Collateral, (d) exercise of any rights or remedies under any Loan Documents or Applicable Law, or (e) failure by any Obligor
to perform or observe any terms of any Loan Document, in each case including all costs and expenses relating to any investigation, litigation,
arbitration or other proceeding (including an Insolvency Proceeding or appellate proceedings), whether or not the applicable Indemnitee
is a party thereto.

 

Code: the Internal
Revenue Code of 1986, as amended.

 

Collateral: all Property
described in Section 7.1, all Property described in any Security Documents as security for any Obligations, and all other
Property that now or hereafter secures (or is intended to secure) any Obligations.

 

Commodity Exchange Act:
the Commodity Exchange Act (7 U.S.C. § 1 et seq.).

 

Company: as defined
in the Preamble hereto.

 

Competitor: on any
date, (a) any competitor (as reasonably determined by Borrowers) of SI Holdings and its Subsidiaries (other than bona fide fixed
income investors or debt funds) that are identified to Agent by Borrower Agent in writing on or prior to the Effective Date; (b) any
other Person (other than any bona fide fixed income investor or debt funds) that is a competitor (as reasonably determined by Borrowers)
of SI Holdings and its Subsidiaries, which Person has been designated as a “Competitor” by written notice from Borrower Agent
to Agent not less than two (2) Business Days prior to such date; and (c) any Affiliate of a “Competitor described in clause
(a) or (b) of this definition, which Affiliate has been designated as a “ Competitor” by written notice from Borrower
Agent to Agent not less than two (2) Business Days prior to such date; provided, that “Competitors shall exclude any
Person that Borrower Agent has designated as no longer being a “Competitor” by written notice to Agent from time to time.
For the avoidance of doubt, to the extent that Persons are identified as Competitors in writing by Borrower Agent after the Effective,
the inclusion of such Persons as Competitors shall not retroactively apply to prior assignments or participations in respect of any Standby
Term Loan or Standby Term Commitment under this Agreement.

 

Compliance Certificate:
a certificate, in form and substance satisfactory to Agent, containing a detailed calculation of the Fixed Charge Coverage Ratio as of
the Fiscal Month most recently ended.

 

Communications: as
defined in Section 15.3(b).

 

Connection Income Taxes:
Other Connection Taxes that are imposed on or measured by net income (however denominated), or are franchise, capital, or branch profits
Taxes.

 

Consolidated EBITDA:
shall have the same meaning as “EBITDA”, as such term is defined herein.

 

Consolidated Total Assets:
shall mean, as of any date, the total assets of the Borrowers and their Subsidiaries determined in accordance with GAAP, as of the last
day of the Fiscal Quarter ended immediately prior to the date of such determination for which financial statements are required to have
been delivered pursuant to Sections 10.1.2(a) or (b).

 

    6 

     

    

 

Contingent Obligation:
any obligation of a Person arising from a guaranty, indemnity or other assurance of payment or performance of any Debt, lease, dividend
or other obligation (“primary obligations”) of another obligor (“primary obligor”) in any manner,
whether directly or indirectly, including any obligation of such Person under any (a) guaranty, endorsement, co-making or sale with
recourse of an obligation of a primary obligor; (b) obligation to make take-or-pay or similar payments regardless of nonperformance
by any other party to an agreement; and (c) arrangement (i) to purchase any primary obligation or security therefor, (ii) to
supply funds for the purchase or payment of any primary obligation, (iii) to maintain or assure working capital, equity capital,
net worth or solvency of the primary obligor, (iv) to purchase Property or services for the purpose of assuring the ability of the
primary obligor to perform a primary obligation, or (v) otherwise to assure or hold harmless the holder of any primary obligation
against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to be the stated or determinable amount of the
primary obligation (or, if less, the maximum amount for which such Person may be liable under the instrument evidencing the Contingent
Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability with respect thereto.

 

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

 

Covered Party: as defined
in Section 15.19.

 

CPSC: means the U.S.
Consumer Products Safety Commission.

 

CPSC Regulations: means
all laws and regulations enforced by the CPSC.

 

CRD IV: (a) Regulation
(EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions
and investment firms; and (b) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to
the activity of credit institutions and the prudential supervision of credit institutions and investment firms.

 

CWA: the Clean Water
Act (33 U.S.C. §§ 1251 et seq.).

 

Debt: as applied to
any Person, without duplication, (a) all items that would be included as liabilities on a balance sheet in accordance with GAAP,
including Capital Leases, but excluding trade payables incurred and being paid in the Ordinary Course of Business; (b) all Contingent
Obligations; (c) all reimbursement obligations in connection with letters of credit issued for the account of such Person; and (d) in
the case of any Obligor, the Obligations. The Debt of a Person shall include any recourse Debt of any partnership in which such Person
is a general partner or joint venturer.

 

Default: an event or
condition that, with the lapse of time or giving of notice, would constitute an Event of Default.

 

Default Rate: for any
Obligation (including, to the extent permitted by law, interest not paid when due), 12%.

 

    7 

     

    

 

Defaulting Lender:
any Lender that, as determined by Agent, (a) has failed to perform any funding obligations hereunder, and such failure is not cured
within three Business Days; (b) has notified Agent or any Borrower that such Lender does not intend to comply with its funding obligations
hereunder or has made a public statement to the effect that it does not intend to comply with its funding obligations hereunder or under
any other credit facility; (c) has failed, within three Business Days following request by Agent, to confirm in a manner satisfactory
to Agent that such Lender will comply with its funding obligations hereunder; or (d) has, or has a direct or indirect parent company
that has, become the subject of an Insolvency Proceeding or taken any action in furtherance thereof (including reorganization, liquidation,
or appointment of a receiver, custodian, administrator or similar Person by the Federal Deposit Insurance Corporation or any other regulatory
authority); provided, however, that a Lender shall not be a Defaulting Lender solely by virtue of a Governmental Authority’s
ownership of an equity interest in such Lender or parent company unless the ownership provides immunity for such Lender from jurisdiction
of courts within the United States or from enforcement of judgments or writs of attachment on its assets, or permits such Lender or Governmental
Authority to repudiate or otherwise to reject such Lender's agreements.

 

Deposit Account: all
 “deposit accounts” as such term is defined in the UCC.

 

Deposit Account Control
Agreements: the Deposit Account control or blocked account agreements to be executed by each institution maintaining a Deposit Account
or a Dominion Account, as applicable, for an Obligor, in favor of Agent and First Lien Agent, as security for the Obligations.

 

Designated Jurisdiction:
a country or territory that is the subject of a Sanction.

 

Distribution: any declaration
or payment of a distribution, interest or dividend on any Equity Interest (other than a rights distribution and/or payment-in-kind by
the Company); any distribution, advance or repayment of Debt to a holder of Equity Interests; or any purchase, redemption, or other acquisition
or retirement for value of any Equity Interest.

 

Documents: means all
 “documents” as such term is defined in the UCC.

 

Dollars: lawful money
of the United States.

 

Dominion Account: a
collection or similar account established by an Obligor at Bank of America, N.A. over which First Lien Agent has control for withdrawal
purposes.

 

EBITDA: determined
on a consolidated basis for Company and Subsidiaries, for each period of twelve consecutive months, equal to the aggregate of (a) net
income for such period, calculated before (i) interest expense, (ii) provision for income taxes and (iii) depreciation
and amortization expense; plus (b) the sum (without duplication) of the following: (i) expenses, fees and charges
incurred in connection with the closing of the transactions contemplated by this Agreement and the First Lien Loan Agreement (including
amendments thereto); (ii) non-cash charges resulting from the write-down of goodwill, furniture, fixtures, equipment and software;
(iii) non-cash charges associated with the issuance and periodic re-measurement of Equity Interests in the Company; (iv) non-cash
losses attributable to deferred financing costs; (v) non-cash losses attributable to fluctuations in currency values; (vi) non-cash
charges attributable to the issuance and/or exercise of employee non-cash stock compensation to the extent permitted by this Agreement;
(vii) non-cash losses or charges resulting from the impact of purchase accounting adjustments in connection with any Permitted Acquisition;
(viii) other non-cash losses or charges deducted in determining net income (including, without limitation, non-cash losses or charges
resulting from the application of Statement of Financial Accounting Standards No. 142, Goodwill and other Intangible Assets (FAS-142)
and FAS-144, Accounting for Impairment of Long-Lived Assets); (ix) losses attributable to the early retirement of Indebtedness (other
than the Obligations); (x) transaction related fees and expenses incurred in connection with any (1) Permitted Asset Disposition,
(2) Permitted Acquisition or (3) Acquisition that has not been consummated in an amount not to exceed $250,000 for any individual
Acquisition or $500,000 in the aggregate for such period for all Acquisitions, all as approved by Agent in its Permitted Discretion; (xi) indemnification
payments made by the Obligors and for which the Obligors have received reimbursement from third parties; (xii) fees and expenses
of advisors and independent consultants retained by Obligors and approved by Agent in its Permitted Discretion, provided, that
the aggregate amount of such fees and expenses added back to EBITDA pursuant to this clause (b)(xii) shall not exceed $250,000 during
any Fiscal Quarter; (xiii) fees and expenses paid to members of the Board of Directors of the Company in an aggregate amount not
to exceed $500,000 during any twelve-month period; (xiv) restructuring charges; (xv) earn-out and severance payments; provided
that the sum of the aggregate amounts added back pursuant to clauses (b)(xii), (b)(xiii), (b)(xiv) and (b)(x) shall not
exceed the greater of $1,000,000 and 10% of EBITDA (calculated prior to giving effect to any adjustment pursuant to (b)(xii), (b)(xiii),
(b)(xiv) and (b)(x)) in the aggregate for any period of twelve consecutive months ending on or after May 31, 2020; provided,
further that the limitations on fees and expenses in this clause (xv) and in clause (xii) shall not apply to any fees
and expenses of Financial Consultant and any investment bank retained by the Borrowers; (xvi) losses arising from the sale of fixed
or capital assets; (xvii) cost, fees and expenses incurred in connection with the incurrence of Indebtedness or the issuance of Equity
Interests expressly permitted under this Agreement and costs, fees and expenses, incurred in connection with any amendments, modifications
or waivers thereof; and (xviii) costs, fees and expenses (including, without limitation, non-recurring fees paid to the Agent) incurred
in connection with all amendments and other waivers and modifications to the Loan Documents; minus the sum (without duplication)
of the following: (i) non-cash income or gains resulting from the write-up of goodwill, furniture, fixtures, equipment and software;
(ii) non-cash income or gains attributable to fluctuations in currency values; (iii) any other non-cash income or gains; (iv) income
or gains arising from the sale of fixed or capital assets; (v) income or gains attributable to the early retirement of Indebtedness
(other than the Obligations); and (vi) any other non-recurring or extraordinary gains (in each case, to the extent included in determining
net income).

 

    8 

     

    

 

Anything to contrary contained in the foregoing
notwithstanding, and without duplication of the any other provisions hereof, the incurrence of CARES Debt shall not result in any increase
in EBITDA. Following the CARES Forgiveness Date, the amount of CARES Debt, if any, that is actually forgiven pursuant to the provisions
of the CARES Act – Title 1 may be included in EBITDA for the period in which such CARES Debt is actually forgiven.

 

Effective Date: as
defined in Section 6.1.

 

Eligible Assignee:
a Person that is (a) a Lender, Affiliate of a Lender or Approved Fund; (b) any other financial institution approved by Borrower
Agent (which approval shall not be unreasonably withheld or delayed, and shall be deemed given if no objection is made within two Business
Days after notice of the proposed assignment) and Agent, which extends revolving credit facilities of this type in its ordinary course
of business; and (c) during any Event of Default, any Person acceptable to Agent in its discretion; provided, that, in no
event shall the term “Eligible Assignee” include any Competitor.

 

Enforcement Action:
any action to enforce any Obligations or Loan Documents or to exercise any rights or remedies relating to any Collateral (whether by judicial
action, self-help, notification of Account Debtors, exercise of setoff or recoupment, credit bid, deed in lieu of foreclosure, exercise
of any right to act in an Obligor’s Insolvency Proceeding or to credit bid Obligations, or otherwise).

 

Environmental Laws:
all Applicable Laws and agreements with Governmental Authorities (including all programs, permits and guidance promulgated by regulatory
agencies), relating to public health and safety matters or conditions (but excluding occupational safety and health, to the extent regulated
by OSHA) or the protection or pollution of the environment, including but not limited to CERCLA, RCRA and CWA.

 

Environmental Notice:
a notice (whether written or oral) from any Governmental Authority or other Person of any possible noncompliance with, investigation of
a possible violation of, litigation relating to, or potential fine or liability under any Environmental Law, or with respect to any Environmental
Release, environmental pollution or hazardous materials, including any complaint, summons, citation, order, claim, demand or request for
correction, remediation or otherwise.

 

Environmental Release:
a release as defined in CERCLA or under any other Environmental Law.

 

    9 

     

    

 

Equity Interest: the
interest of any (a) shareholder in a corporation; (b) partner in a partnership (whether general, limited, limited liability
or joint venture); (c) member in a limited liability company; or (d) other Person having any other form of equity security or
ownership interest.

 

ERISA: the Employee
Retirement Income Security Act of 1974.

 

ERISA Affiliate: any
trade or business (whether or not incorporated) under common control with an Obligor 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) a
Reportable Event with respect to a Pension Plan; (b) a withdrawal by any Obligor or ERISA Affiliate from a Pension Plan subject to
Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA)
or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial
withdrawal by any Obligor or ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization;
(d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or
4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan; (e) the determination that any Pension
Plan is considered an at risk plan or a plan in critical or endangered status under the Code, ERISA or the Pension Protection Act of 2006;
(f) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of
a trustee to administer, any Pension Plan; (g) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums
due but not delinquent under Section 4007 of ERISA, upon any Obligor or ERISA Affiliate; or (h) failure by an Obligor or ERISA
Affiliate to meet all applicable requirements under the Pension Funding Rules in respect of a Pension Plan, whether or not waived,
or to make a required contribution to a Multiemployer Plan.

 

Event of Default: as
defined in Section 11.

 

Excluded Deposit Account:
a Deposit Account maintained by any Obligor (a) which has been established and is used exclusively for the sole purpose of making
payroll and withholding tax payments related thereto and other employee wage and benefit payments to or for the benefit of such Obligor's
employees and accrued and unpaid employee compensation (including salaries, wages, benefits and expense reimbursements), (b) which
is a zero balance operational disbursement or similar account, (c) has been established and is used exclusively for the sole purpose
of making and remitting sales and use taxes, VAT and/or such Canadian sales and use tax equivalents or (d) which is used for petty
cash or similar purposes so long as the amount on deposit (i) in each such individual Deposit Account described in this clause (d) does
not exceed $12,000 during any period of seventy-two consecutive hours and (ii) in all Deposit Accounts referred to in this clause
(d) does not exceed $60,000 in the aggregate during any period of seventy-two consecutive hours. Anything to the contrary contained
in this Agreement notwithstanding, the CARES Account shall be deemed to be an Excluded Deposit Account.

 

Excluded Property:
as defined in Section 7.1.

 

Excluded Swap Obligation:
with respect to an Obligor, each Swap Obligation as to which, and only to the extent that, such Obligor's guaranty of or grant of a Lien
as security for such Swap Obligation is or becomes illegal under the Commodity Exchange Act because the Obligor does not constitute an
 "eligible contract participant" as defined in the act (determined after giving effect to any keepwell, support or other agreement
for the benefit of such Obligor and all guarantees of Swap Obligations by other Obligors) when such guaranty or grant of Lien becomes
effective with respect to the Swap Obligation. If a Hedging Agreement governs more than one Swap Obligation, only the Swap Obligation(s) or
portions thereof described in the foregoing sentence shall be Excluded Swap Obligation(s) for the applicable Obligor

 

    10 

     

    

 

Excluded Taxes: (a) Taxes
imposed on or measured by a Recipient's net income (however denominated), franchise Taxes and branch profits Taxes (i) as a result
of such Recipient being organized under the laws of, or having its principal office or applicable Lending Office located in, the jurisdiction
imposing such Tax, or (ii) constituting Other Connection Taxes; (b) U.S. federal and Canadian federal withholding Taxes imposed
on amounts payable to or for the account of a Lender with respect to its interest in a Standby Term Loan or Standby Term Commitment pursuant
to a law in effect when the Lender acquires such interest (except pursuant to an assignment request by Borrower Agent under Section 13.4)
or changes its Lending Office, unless the Taxes were payable to its assignor immediately prior to such assignment or to the Lender immediately
prior to its change in Lending Office; (c) Taxes attributable to a Recipient's failure to comply with Section 5.10; and
(d) U.S. federal withholding Taxes imposed pursuant to FATCA. In no event shall "Excluded Taxes" include any U.S. withholding
Tax imposed on amounts paid by or on behalf of a foreign Obligor to a Recipient that has complied with Section 5.10.2.

 

Extraordinary Expenses:
all costs, expenses or advances that Agent or Lenders may incur during a Default or Event of Default, or during the pendency of an Insolvency
Proceeding of an Obligor, including those relating to: (a) any audit, inspection, repossession, storage, repair, appraisal, insurance,
manufacture, preparation or advertising for sale, sale, collection, or other preservation of or realization upon any Collateral; (b) any
action, arbitration or other proceeding (whether instituted by or against Agent, any Lender, any Obligor, any representative of creditors
of an Obligor or any other Person) in any way relating to any Collateral (including the validity, perfection, priority or avoidability
of Agent’s Liens with respect to any Collateral), Loan Documents or Obligations, including any lender liability or other Claims;
(c) the exercise, protection or enforcement of any rights or remedies of Agent in, or the monitoring of, any Insolvency Proceeding;
(d) settlement or satisfaction of any taxes, charges or Liens with respect to any Collateral; (e) any Enforcement Action; and
(f) negotiation and documentation of any modification, waiver, workout, restructuring or forbearance with respect to any Loan Documents
or Obligations. “Extraordinary Expenses” shall include transfer fees, Other Taxes, storage fees, insurance costs, permit fees,
utility reservation and standby fees, legal fees, appraisal fees, brokers’ fees and commissions, auctioneers’ fees and commissions,
accountants’ fees, environmental study fees, wages and salaries paid to employees of any Obligor or independent contractors in liquidating
any Collateral, and travel expenses.

 

Fair Salable Value:
the amount that could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling
conditions by a capable and diligent seller to an interested buyer who is willing (but under no compulsion) to purchase.

 

FATCA: Sections 1471
through 1474 of the Code (including any amended or successor version if substantively comparable and not materially more onerous to comply
with), and any agreements entered into pursuant to Section 1471(b)(1) of the Code.

 

Financial Consultant:
Riveron Consulting LLC.

 

First Lien Agent; as
defined in the Recitals hereto.

 

First Lien Debt: means
all Debt of the Obligors incurred pursuant to the First Lien Loan Agreement and the other First Lien Loan Documents and any refinancing
or replacement of such Debt from time to time in accordance with the Intercreditor Agreement.

 

First Lien Lender(s):
as defined in the Recitals hereto.

 

First Lien Loan Agreement:
as defined in the Recitals hereto.

 

First Lien Loan Documents:
the First Lien Loan Agreement and all other documents, instruments and agreements from time to time executed or delivered in connection
therewith and as amended, restated, amended and restated, supplemented, modified or refinanced or replaced from time to time in accordance
with the Intercreditor Agreement.

 

    11 

     

    

 

 

Fiscal Month: any
fiscal month of any Fiscal Year, which fiscal month shall consist of either four or five weeks and generally end on the Saturday closest
to the last day of each calendar month in accordance with the fiscal accounting calendar of the Company and its Subsidiaries.

 

Fiscal Quarter: any
fiscal quarter of any Fiscal Year, which fiscal quarter shall consist of thirteen weeks divided into three Fiscal Months of four, four
and five weeks, which fiscal quarters shall generally end on the Saturday closest to the last day of March, June, September and
December of each Fiscal Year in accordance with the fiscal accounting calendar of the Company and its Subsidiaries.

 

Fiscal Year: the fiscal
year of Company and its Subsidiaries for accounting and tax purposes, generally ending on the Saturday closest to the last day of December of
each year.

 

Fixed Charge Coverage
Ratio: the ratio, determined on a consolidated basis for Company and its Subsidiaries for the most recent period of twelve consecutive
months, of (a) EBITDA minus Capital Expenditures (except those financed with (i) Borrowed Money (other than the First Lien
Debt) or (ii) proceeds of Casualty Events or the issuance of Equity Interests to the extent such Capital Expenditures are made substantially
contemporaneously with the receipt of such proceeds) and cash taxes paid for such period, to (b) Fixed Charges paid in cash during
such period.

 

Fixed Charges: the
sum of cash interest expense (other than payment-in-kind), principal payments made on Borrowed Money (including, without limitation,
the Standby Term Loans and the First Lien Debt which would result in a permanent reduction in the commitments thereof), and Distributions
made. Anything to the contrary contained in the foregoing notwithstanding, “Fixed Charges” shall not include (i) interest
expense or principal payments on CARES Debt other than CARES Unforgiven Debt and (ii) any principal payments made in connection
with the scheduled reductions to the Aggregate FILO Commitment Amount referenced in the definition of Aggregate FILO Commitment Amount
in Section 1.1 of the First Lien Loan Agreement.

 

FLSA: the Fair Labor
Standards Act of 1938.

 

Foreign Lender: any
Lender that is not a U.S. Person.

 

Foreign Plan: any
employee benefit plan or arrangement (a) maintained or contributed to by any Obligor or Subsidiary that is not subject to the laws
of the United States; or (b) mandated by a government other than the United States for employees of any Obligor or Subsidiary.

 

Foreign Subsidiary:
a Subsidiary that is a “controlled foreign corporation” under Section 957 of the Code, such that a guaranty by such
Subsidiary of the Obligations or a Lien on the assets of such Subsidiary to secure the Obligations would result in material tax liability
to Borrowers, provided, however, that in the event that SI Canada and SI UK are joined to this Agreement as Guarantors, such entities
shall at such time be deemed to not be Foreign Subsidiaries.

 

Full Payment: with
respect to any Obligations, (a) the full cash payment thereof, including any interest, fees and other charges accruing during an
Insolvency Proceeding (whether or not allowed in the proceeding); and (b) if such Obligations are inchoate or contingent in nature,
Cash Collateralization thereof (or delivery of a standby letter of credit acceptable to Agent in its reasonable discretion, in the amount
of required Cash Collateral). No Loans shall be deemed to have been paid in full until all Standby Term Loan Commitments related to such
Loans have expired or been terminated.

 

GAAP: generally accepted
accounting principles in effect in the United States from time to time.

 

    12 

     

    

 

GBP: means the lawful
currency of the United Kingdom of Great Britain and Northern Ireland.

 

Governmental Approvals:
all authorizations, consents, approvals, licenses and exemptions of, registrations and filings with, and required reports to, all Governmental
Authorities.

 

Governmental Authority:
any federal, state, provincial, territorial, municipal, local, foreign or other agency, authority, body, commission, court, instrumentality,
political subdivision, or other entity or officer exercising executive, legislative, judicial, regulatory or administrative functions
for any governmental, judicial, investigative, regulatory or self-regulatory authority, in each case whether associated with the United
States, a state, district or territory thereof, Canada, a province or territory thereof, the United Kingdom or a country thereof or any
other foreign entity or government (including the Financial Conduct Authority, the Prudential Regulation Authority and any supra-national
bodies such as the European Union or the European Central Bank).

 

Guarantor Payment:
as defined in Section 5.11.3.

 

Guarantors: each Person
who guarantees payment or performance of any Obligations.

 

Guaranty: Section 14
of this Agreement and each guaranty agreement executed by a Guarantor in favor of Agent.

 

Hedging Agreement:
any “swap agreement” as defined in Section 101(53B)(A) of the Bankruptcy Code.

 

Immaterial Foreign Subsidiary:
shall mean, at any date of determination after the Effective Date, any Foreign Subsidiary of a Borrower (a) the total assets of
which, in the aggregate with all other Immaterial Foreign Subsidiaries, determined as of the Fiscal Quarter most recently ended, were
less than 15% of the Consolidated Total Assets of the Company and its Subsidiaries as of such date of determination, and (b) the
Consolidated EBITDA attributable to such Foreign Subsidiary for the period of four (4) consecutive Fiscal Quarters ending on such
date does not exceed, in the aggregate with all other Immaterial Foreign Subsidiaries, 15% of the Consolidated EBITDA of the Borrowers
and their Subsidiaries for such period, in each case determined in accordance with GAAP; provided, that (i) Borrowers shall not
designate any additional Foreign Subsidiary as an Immaterial Foreign Subsidiary if such designation would result in a failure to comply
with the provisions set forth in clause (a) or (b) immediately above and (ii) no Foreign Subsidiary that owns any other
Foreign Subsidiary that fails to comply with clause (a) or (b) above shall be deemed to be an Immaterial Foreign Subsidiary;
and provided, further, if the total assets and/or gross revenue of all Foreign Subsidiaries so designated by the Borrowers as “Immaterial
Foreign Subsidiaries” shall at any time exceed the limits set forth in either clause (a) or (b) immediately above, then
the Borrowers shall promptly re-designate one or more of such Foreign Subsidiaries as not constituting Immaterial Foreign Subsidiaries,
in each case in a written notice to Agent, so that, as result of such re-designation, the total assets and gross revenues of all Foreign
Subsidiaries still designated as “Immaterial Foreign Subsidiaries” do not exceed such limits. Each Immaterial Foreign Subsidiary
that has granted security in its assets to the First Lien Agent or the First Lien Lenders shall automatically cease to be an Immaterial
Foreign Subsidiary immediately upon the occurrence of an Event of Default.

 

Indebtedness: shall
have the same meaning as “Debt”, as such term is defined herein.

 

Indemnified Taxes:
(a) Taxes other than Excluded Taxes, imposed on or relating to any payment of an Obligation; and (b) to the extent not otherwise
described in clause (a), Other Taxes.

 

Indemnitees: Agent
Indemnitees, Lender Indemnitees and Wynnefield Indemnitees.

 

Insolvency Law: collectively,
the Bankruptcy Code, or any other insolvency, debtor relief, debt adjustment, arrangement, receivership, or similar law (whether state,
provincial, territorial, federal or foreign), including, without limitation, the Bankruptcy and Insolvency Act (Canada), the Companies’
Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act, any applicable governing corporate statutes providing for arrangements,
and the Insolvency Act 1986 (UK).

 

    13 

     

    

 

Insolvency Proceeding:
(a) any case or proceeding commenced by or against a Person under any state, provincial, territorial, federal or foreign law for,
or any agreement of such Person to, (i) the seeking or any entry of an order for relief under any Insolvency Law; (ii) the
appointment of a receiver, interim receiver, monitor, reviewer and manager, trustee, liquidator, administrator, conservator or other
custodian for such Person or any part of its Property; or (iii) an assignment or trust mortgage for the benefit of creditors; or
(b) any proceeding commenced by or against a Person under any provision of the Insolvency Act 1986 (UK), the Corporate Insolvency &
Governance Act 2020 (UK) or under any other insolvency law of any jurisdiction of the United Kingdom.

 

Intellectual Property:
all present and future: trade secrets, know-how and other proprietary information; trademarks, trademark applications, 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 all registrations or applications for registrations
which have heretofore been or may hereafter be issued thereon throughout the world and including the goodwill associated therewith; copyrights,
copyrightable works (registered or unregistered) and copyright applications (including copyrights for computer programs) and all tangible
and intangible property embodying the copyrights, unpatented inventions (whether or not patentable); patents and patent applications
and patent disclosures; 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, all rights in computer
software including source codes, object codes, and executable code, data, databases and other physical manifestations, embodiments or
incorporations of any of the foregoing; all other intellectual property and any proceeds and products thereof; and all common law and
other rights throughout the world in and to all of the foregoing.

 

Intellectual Property
Claim: any claim or assertion (whether in writing or by suit) that Borrower’s or Subsidiary’s ownership, use, marketing,
sale or distribution of any Inventory, Equipment, Intellectual Property or other Property violates another Person’s Intellectual
Property.

 

Intercreditor Agreement:
the Intercreditor and Subordination Agreement dated as of the Effective Date between Agent, First Lien Agent, the Obligors, SI Canada
and SI UK, as the same may be amended, restated, supplemented or otherwise modified from time to time.

 

Interest Payment Date:
means (i) the first day of each calendar quarter, commencing with the first such date to occur after the Effective Date and continuing
to the Termination Date, and (ii) the Termination Date.

 

Interest Period: means
each period commencing on an Interest Payment Date (or in the case of the initial Interest Period, commencing on the Effective Date)
and ending on the subsequent Interest Payment Date.

 

Inventory: as defined
in the UCC, including all goods intended for sale, lease, display or demonstration; all work in process; and all raw materials, and other
materials and supplies of any kind that are or could be used in connection with the manufacture, printing, packing, shipping, advertising,
sale, lease or furnishing of such goods, or otherwise used or consumed in Borrower’s or Guarantor’s business (but excluding
Equipment).

 

Investment: an Acquisition;
an acquisition of record or beneficial ownership of any Equity Interests of a Person; or an advance or capital contribution to or other
investment in a Person.

 

    14 

     

    

 

IP Assignment: a collateral
assignment or security agreement pursuant to which an Obligor grants a Lien on its Intellectual Property to Agent, as security for its
Obligations.

 

IRS: the United States
Internal Revenue Service.

 

ISDA Definitions:
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.

 

Judgment Currency:
as defined in Section 1.5.

 

Lender Indemnitees:
Lenders and their officers, directors, employees, Affiliates, agents and attorneys.

 

Lenders: as defined
in the preamble to this Agreement, and any other Person who hereafter becomes a “Lender” pursuant to an Assignment and Acceptance,
including any Lending Office of the foregoing.

 

Lending Office: the
office designated as such by the applicable Lender at the time it becomes party to this Agreement or thereafter by notice to Agent and
Borrower Agent.

 

License: any license
or agreement under which an Obligor is authorized to use Intellectual Property in connection with any manufacture, marketing, distribution
or disposition of Collateral, any use of Property or any other conduct of its business.

 

Licensor: any Person
from whom an Obligor obtains the right to use any Intellectual Property.

 

Lien: any Person’s
interest in Property securing an obligation owed to, or a claim by, such Person, including any lien, security interest, pledge, hypothecation,
trust, reservation, encroachment, easement, right-of-way, covenant, condition, restriction, leases, or other title exception, adverse
right/ claim or interest or deemed trust, or encumbrance.

 

Loan Documents: this
Agreement, Other Agreements and Security Documents.

 

Loan Year: each 12
month period commencing on the Effective Date and on each anniversary of the Effective Date.

 

Margin Stock: as defined
in Regulation U of the Board of Governors.

 

Material Adverse Effect:
the effect of any event, fact, circumstance or change that, taken alone or in conjunction with other events or circumstances, (a) has
a material adverse effect on the business, assets, Properties, liabilities, operations, or financial condition of the Obligors, taken
as a whole, on the value of any material Collateral, on the enforceability of any Loan Document, or on the validity or priority of Agent’s
Liens on any material portion of the Collateral; (b) that could materially impair the ability of the Obligors, taken as a whole,
to perform their obligations under the Loan Documents, including repayment of any Obligations; (c) that could reasonably be expected
to materially and adversely affect the Standby Term Loans or the transactions contemplated by this Agreement and the Loan Documents;
or (d) otherwise materially impairs the ability of Agent or any Lender to enforce or collect any Obligations or realize upon any
material portion of the Collateral. In determining whether any individual event would result in a Material Adverse Effect, notwithstanding
that such event in and of itself does not have such effect, a Material Adverse Effect shall be deemed to have occurred if the cumulative
effect of such event and all other then-existing events would result in a Material Adverse Effect.

 

    15 

     

    

 

Material Contract:
any agreement or arrangement to which an Obligor is party (other than the Loan Documents) (a) that is deemed to be a material contract
under any securities law applicable to such Person, including the Securities Act of 1933; or (b) that relates to Subordinated Debt,
or to Debt in an aggregate amount of $3,600,000 or more.

 

Maximum Rate: as defined
in Section 3.10.

 

Moody’s: Moody’s
Investors Service, Inc., and its successors.

 

Multiemployer Plan:
any Benefit Plan of the type described in Section 4001(a)(3) of ERISA, to which any Obligor or ERISA Affiliate makes or is
obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions.

 

Multiple Employer Plan:
a Plan with two or more contributing sponsors, including an ‎Obligor or ERISA Affiliate, at least two of whom are not under common
control, as described in ‎Section 4064 of ERISA.‎

 

Net Proceeds: with
respect to an Asset Disposition, proceeds (including, when received, any deferred or escrowed payments) received by a Borrower or Subsidiary
in cash from such disposition, net of (a) reasonable and customary costs and expenses actually incurred in connection therewith,
including legal fees and sales commissions; (b) amounts applied to repayment of Debt secured by a Permitted Lien senior to Agent’s
Liens on Collateral sold; (c) transfer or similar taxes(including any reasonable estimate of taxes to be paid within one (1) year
of the date of the relevant transaction as a result of any gain recognized in connection therewith; provided that any such estimated
taxes not actually due or payable by the end of such one year period shall constitute Net Proceeds upon the earlier of the date that
such taxes are determined by the Borrower or any Subsidiary, as applicable not to be actually payable and the end of such one year period,
and (d) reasonable reserves in accordance with GAAP for any liabilities or indemnification payments (fixed or contingent) attributable
to seller’s indemnities and representations and warranties to purchasers and other retained liabilities in respect of such Asset
Disposition undertaken by Borrower or any Subsidiary in connection with such Asset Disposition; provided that to the extent that any
such amount ceases to be so reserved (other than any reduction in such reserve to make a payment in respect of such liability or indemnification
obligations), the amount thereof shall be deemed to be Net Proceeds of such Asset Disposition at such time.

 

Notice of Borrowing:
a Notice of Borrowing to be provided by Borrower Agent to request a Borrowing of Loans in form satisfactory to Agent.

 

Obligations: all (a) principal
of and premium, if any, on the Standby Term Loans, (b) interest, expenses, fees, indemnification obligations, Extraordinary Expenses
and other amounts payable by Obligors under the Loan Documents, and (c) other Debts, obligations and liabilities of any kind owing
by Obligors pursuant to the Loan Documents, whether now existing or hereafter arising, whether evidenced by a note or other writing,
whether allowed in any Insolvency Proceeding, whether arising from an extension of credit, issuance of a letter of credit, acceptance,
loan, guaranty, indemnification or otherwise, and whether direct or indirect, absolute or contingent, due or to become due, primary or
secondary, or joint or several; provided, that Obligations of an Obligor shall not include its Excluded Swap Obligations.

 

Obligor: each Borrower,
Guarantor, or other Person that is liable for payment of any Obligations or that has granted a Lien in favor of Agent on its assets to
secure any Obligations.

 

OFAC: Office of Foreign
Assets Control of the U.S. Treasury Department.

 

    16 

     

    

 

OFAC Lists: means,
collectively, the SDN List and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the rules and
regulations of OFAC or pursuant to any other applicable executive orders.

 

Ordinary Course of Business:
the ordinary course of business of any Borrower or Subsidiary, consistent with past practices and undertaken in good faith.

 

Organic Documents:
with respect to any Person, its charter, certificate or articles of incorporation, bylaws, memorandum (if any) and articles of organization
or association, articles of amalgamation, limited partnership agreement, limited liability agreement, operating agreement, members agreement,
shareholders agreement, partnership agreement, certificate of partnership, certificate of formation, voting trust agreement, or similar
agreement or instrument governing the formation or operation of such Person.

 

OSHA: the Occupational
Safety and Hazard Act of 1970.

 

Other Agreement: each
fee letter, Compliance Certificate, Borrower Materials, Intercreditor Agreement, or other note, document, instrument or agreement
(other than this Agreement or a Security Document) now or hereafter delivered by an Obligor or other Person to Agent or a Lender in connection
with any transactions relating hereto.

 

Other Connection Taxes:
Taxes imposed on a Recipient due to a present or former connection between it and the taxing jurisdiction (other than connections arising
from the Recipient having executed, delivered, become party to, performed obligations or received payments under, received or perfected
a Lien or engaged in any other transaction pursuant to, enforced, or sold or assigned an interest in, any Loan or Loan Document).

 

Other Taxes: all present
or future stamp, court, documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the
execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a Lien under, or otherwise with respect
to, any Loan Document, except Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to
Section 13.4(c)).

 

Participant: as defined
in Section 13.2.

 

Patriot Act: the Uniting
and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56,
115 Stat. 272 (2001).

 

Payment Item: each
check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.

 

PBGC: the Pension
Benefit Guaranty Corporation.

 

Pension Funding Rules:
Code and ERISA rules regarding minimum required contributions (including installment payments) to Pension Plans set forth in, for
plan years ending prior to the Pension Protection Act of 2006 effective date, Section 412 of the Code and Section 302 of ERISA,
both as in effect prior to such act, and thereafter, Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305
of ERISA.

 

Pension Plan: any
employee pension benefit plan (as defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title
IV of ERISA and is sponsored or maintained by any Obligor or ERISA Affiliate or to which the Obligor or ERISA Affiliate contributes or
has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA,
has made contributions at any time during the preceding five plan years.

 

    17 

     

    

 

Permitted Acquisition:
any Acquisition (i) consented to by the Required Lenders, (ii) for which total consideration is paid entirely in an amount
not greater than $1,200,000; or (iii) as long as (a) no Event of Default exists or is caused thereby; (b) the Acquisition
is consensual; (c) the assets, business or Person being acquired is useful or engaged in same or similar the business of Borrowers
and Subsidiaries, is located and organized within the United States or Canada as applicable (or such other jurisdiction as Agent shall
approve in its Permitted Discretion) and had positive EBITDA for the 12 month period most recently ended; (d) no Debt or Liens are
incurred, assumed or result from the Acquisition, except Debt permitted under Section 10.2.1(f) or (i); (e) the
Person to be acquired (or its board of directors or equivalent governing body) has not (i) announced it will oppose such Acquisition
or (ii) commenced any action which alleges that such Acquisition violates, or will violate, any Applicable Law; (f) upon giving
pro forma effect thereto, either (i) Availability (as defined in the First Lien Loan Agreement) (calculated without giving effect
to the assets acquired in the Acquisition unless First Lien Agent has completed its diligence (including a field exam) with respect to
such assets) is at least equal to 20% of the aggregate Revolver Commitment (as defined in the First Lien Loan Agreement) for the 30 days
preceding and as of the Acquisition and the Fixed Charge Coverage Ratio, determined on a pro forma basis giving effect to the Acquisition,
is not less than 0.80 to 1:00 at any time or (ii) Availability (as defined in the First Lien Loan Agreement) (calculated without
giving effect to the assets acquired in the Acquisition unless First Lien Agent has completed its diligence (including a field examination)
with respect to such assets) is at least equal to 25% of the aggregate Revolver Commitments (as defined in the First Lien Loan Agreement)
for the 30 days preceding and as of the date of the Acquisition; (g) in the case of any Acquisition where the consideration to be
paid for such Acquisition equals or exceeds $2,400,000, the Borrower Agent shall have furnished the Agent with thirty (30) days’
prior written notice of such intended Acquisition and shall have furnished the Agent with a current draft of the Acquisition documents
(and final copies thereof as and when executed), a summary of any due diligence undertaken by the Obligors in connection with such Acquisition,
appropriate financial statements of the Person which is the subject of such Acquisition, pro forma projected financial statements for
the twelve (12) month period following such Acquisition after giving effect to such Acquisition (including balance sheets, cash flows
and income statements by month for the acquired Person, individually, and on a consolidated basis with all Obligors), and such other
information as the Agent may reasonably require, all of which shall be reasonably satisfactory to the Agent; (h) after giving effect
to the Acquisition, if the Acquisition is an Acquisition of the Equity Interests, a Borrower shall acquire and own, directly or indirectly,
a majority of the Equity Interests in the Person being acquired and shall control a majority of any voting interests or shall otherwise
control the governance of the Person being acquired or formed; (i) either (1) the legal structure of the Acquisition shall
be acceptable to the Agent in its Permitted Discretion, or (2) the Borrowers shall have provided the Agent with a favorable solvency
opinion from an unaffiliated third party valuation firm reasonably satisfactory to the Agent; (j) if the Person which is the subject
of such Acquisition will be maintained as a Subsidiary of a Borrower, or if the assets acquired in an acquisition will be transferred
to a Subsidiary which is to be an Obligor, such Subsidiary shall have been joined as a “Borrower” hereunder or as a Guarantor,
as the Agent shall determine in its Permitted Discretion, and the Agent shall have received a first priority security and/or mortgage
interest (except for those Permitted Liens that have priority in such Collateral by operation of law and except as to the Liens of the
First Lien Agent to the extent provided in the Intercreditor Agreement) in such Subsidiary’s property of the same nature as constitutes
Collateral under the Security Documents; (k) the purchase price payable in respect of (i) any single Acquisition or series
of related Acquisitions shall not exceed $3,000,000 in the aggregate and (ii) all Acquisitions (including the proposed Acquisition)
shall not exceed $6,000,000 in the aggregate during the term of this Agreement.

 

    18 

     

    

 

Permitted Asset Disposition:
as long as no Event of Default exists and at any time a Cash Dominion Period (as defined under the First Lien Loan Agreement) exists,
all Net Proceeds are remitted to Agent or First Lien Agent pursuant to the terms of the Intercreditor Agreement, an Asset Disposition
that is (i) a sale of Inventory in the Ordinary Course of Business; (ii) a disposition of Equipment that, in the aggregate
during any 12 month period, has a fair market or net book value (whichever is more) of $900,000 or less; (iii) a disposition of
Inventory that is obsolete, surplus, unmerchantable or otherwise unsalable in the Ordinary Course of Business; (iv) [reserved];
(v) termination of a lease of real or personal Property that is not necessary for the Ordinary Course of Business, could not reasonably
be expected to have a Material Adverse Effect and does not result from an Obligor’s default; (vi) the disposition of accounts
receivable in connection with the collection or compromise thereof; (vii) non-exclusive licenses, sublicenses, leases or subleases
of Intellectual Property granted to others in the Ordinary Course of Business or not interfering in any material respect with the business
of the Borrower or any Subsidiary; (viii) the sale or disposition of Cash Equivalents for fair market value in the ordinary course
of business; (ix) the abandonment or other disposition of Intellectual Property, whether now or hereafter owned or leased or acquired,
that is, in the reasonable business judgment of the Borrower, no longer economically practicable or commercially desirable to maintain
or used or useful in the business of the Borrower and the Subsidiaries; (x) solely to the extent not otherwise permitted hereunder,
sales, transfers and other dispositions permitted by Section 10.2.9; (xi) sales, transfers or other dispositions of Investments
to the extent not a Restricted Investment in joint ventures to the extent required by, or made pursuant to customary buy/sell arrangements
between, the parties set forth in joint venture arrangements and similar binding agreements; or (xii) approved in writing by Agent
and Required Lenders.

 

Permitted Contingent Obligations:
Contingent Obligations (a) arising from endorsements of Payment Items for collection or deposit in the Ordinary Course of Business;
(b) arising from Hedging Agreements permitted hereunder; (c) existing on the Effective Date, and any extension or renewal thereof
that does not increase the amount of such Contingent Obligation when extended or renewed; (d) incurred in the Ordinary Course of
Business with respect to surety, appeal or performance bonds, or other similar obligations; (e) arising from customary indemnification
obligations in favor of purchasers in connection with dispositions of Equipment permitted hereunder or Acquisitions permitted hereunder;
(f) arising under the Loan Documents; or (g) in an aggregate amount of $3,600,000 or less at any time.

 

Permitted Discretion:
a determination made by Agent, in good faith, in the exercise of reasonable business judgment (from the perspective of a secured, asset-based
lender), based upon Agent’s consideration of factors that in the exercise of such reasonable business judgment Agent believes:
(a) could be expected to materially and adversely affect the quantity, quality, mix or value of Collateral (including any Applicable
Law that may inhibit collection of an Account), the enforceability or priority of Agent’s Liens, or the amount that Agent and Lenders
could receive in liquidation of any Collateral; (b) that any collateral report or financial information delivered by any Obligor
is incomplete, inaccurate or misleading in any material respect; (c) could materially increase the likelihood of any Insolvency
Proceeding involving an Obligor; (d) could increase the credit risk of lending to Borrowers on the security of the Collateral; or
(e) could reasonably be expected to result in a Default or Event of Default.

 

Permitted Lien: as
defined in Section 10.2.2.

 

Permitted Purchase Money
Debt: Purchase Money Debt of Borrowers and Subsidiaries that is unsecured or secured only by a Purchase Money Lien, as long as the
aggregate amount does not exceed $3,000,000 at any time when combined with Capital Lease obligations permitted under Section 10.2.1(c).

 

Permitted Restricted Payments:
(a) Upstream Payments and (b) other Distributions made by any Obligor or Subsidiary; provided, that (i) at the
time such Distribution is made and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing,
(ii) on a pro forma basis immediately after giving effect to such Distribution, the financing thereof and the payment of
reasonable costs and expenses related thereto (including, without limitation, the incurrence of other Debt to finance such Distribution
or the payment of such costs and expenses), either (A) both (1) Availability (as defined in the First Lien Loan Agreement),
calculated as of the day such Distribution is made and for the period of 30 consecutive days ending on the day such Distribution is made,
shall equal or exceed 25% of the aggregate Revolver Commitments (as defined in the First Lien Loan Agreement) as of such date and (2) the
Fixed Charge Coverage Ratio, determined as if such Distribution has been made, and all Debt related to such Distribution (including,
without limitation, any other Debt incurred to finance such Distribution) had been incurred, on the first day of the twelve consecutive
month period most recently ended prior to the date such Distribution is made for which financial statements have been (or are required
to have been) delivered to Agent pursuant to Section 10.1.2(a) or (b), shall equal or exceed 0.80 to 1.00, or
(B) Availability (as defined in the First Lien Loan Agreement), calculated as of the day such Distribution is made and for the period
of 30 consecutive days ending on the day such Distribution is made, shall equal or exceed 30% of the aggregate Revolver Commitments (as
defined in the First Lien Loan Agreement) as of such date, and (iii) Agent shall have received a certificate of a Senior Officer
of Borrower Agent in form and substance reasonably satisfactory to Agent, dated as of the date of such Distribution, certifying that
the conditions set forth in the foregoing clauses (b)(i) and (b)(ii) have been satisfied.

 

    19 

     

    

 

Person: any individual,
corporation, limited liability company, unlimited liability company, partnership, joint venture, association, trust, unincorporated organization,
Governmental Authority or other entity.

 

Plan: any employee
benefit plan (as defined in Section 3(3) of ERISA) established by an Obligor or, with respect to any such plan that is subject
to Section 412 of the Code or Title IV of ERISA, an ERISA Affiliate.

 

Proceeds of Crime Act:
means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada).

 

Properly Contested:
with respect to any obligation of an Obligor, (a) the obligation is subject to a bona fide dispute regarding amount or the Obligor’s
liability to pay; (b) the obligation is being properly contested in good faith by appropriate proceedings promptly instituted and
diligently pursued; (c) appropriate reserves have been established in accordance with GAAP; (d) non-payment could not have
a Material Adverse Effect, nor result in forfeiture or sale of any material assets of the Obligor; (e) no Lien is imposed on assets
of the Obligor, unless (i) bonded and stayed to the satisfaction of Agent or (ii) if such assets constitute Collateral, the
fair market value of such Collateral does not exceed $2,400,000; and (f) if the obligation results from entry of a judgment or other
order, such judgment or order is stayed pending appeal or other judicial review.

 

Property: any interest
in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 

PTE: a prohibited
transaction class exemption issued by the U.S. Department of Labor, as amended from time to time.

 

Purchase Money Debt:
(a) Debt (other than the Obligations) for payment of any of the purchase price of fixed assets; (b) Debt (other than the Obligations)
incurred within 10 days before or after acquisition of any fixed assets, for the purpose of financing any of the purchase price thereof;
and (c) any renewals, extensions or refinancings (but not increases) thereof.

 

Purchase Money Lien:
a Lien that secures Purchase Money Debt, encumbering only the fixed assets acquired with such Debt and constituting a Capital Lease or
a purchase money security interest under the UCC.

 

RCRA: the Resource
Conservation and Recovery Act (42 U.S.C. §§ 6991-6991i).

 

Real Estate: all right,
title and interest (whether as owner, lessor or lessee) in any real Property or any buildings, structures, parking areas or other improvements
thereon.

 

Recipient: Agent,
any Lender or any other recipient of a payment to be made by an Obligor under a Loan Document or on account of an Obligation.

 

    20 

     

    

 

Refinancing Conditions:
the following conditions for Refinancing Debt: (i) it is in an aggregate principal amount that does not exceed the principal amount
of the Debt being extended, renewed or refinanced; (ii) it has a final maturity no sooner than, a weighted average life no less
than, and an interest rate no greater than, the Debt being extended, renewed or refinanced; (iii) it is subordinated to the Obligations
at least to the same extent as the Debt being extended, renewed or refinanced; (iv) the representations, covenants and defaults
applicable to it are no less favorable to Borrowers than those applicable to the Debt being extended, renewed or refinanced; (v) no
additional Lien is granted to secure it; (vi) no additional Person is obligated on such Debt; and (v) upon giving effect to
it, no Default or Event of Default exists.

 

Refinancing Debt:
Borrowed Money that is the result of an extension, renewal or refinancing of Debt permitted under Section 10.2.1(b), (d) or
(f).

 

Report: as defined
in Section 12.2.3.

 

Reportable Event:
any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived.

 

Required Lenders:
Lenders (subject to Section 4.2) having Standby Term Loan Commitments, in excess of 662⁄3% of the aggregate Standby
Term Loan Commitments; and (b) if the Standby Term Loan Commitments have terminated, Standby Term Loans in excess of 662⁄3%
of all outstanding Standby Term Loans; provided, however, that (i) if at any time there shall be two or more Lenders,
 “Required Lenders” shall mean at least two Lenders (subject to Section 4.2) having Standby Term Loan Commitments
in excess of 662⁄3% of the aggregate Standby Term Loan Commitments (or, if Standby Term Loan Commitments have terminated, having
Standby Term Loans in excess of 662⁄3% of all outstanding Standby Term Loans), and (ii) the Standby Term Loan Commitment and
Standby Term Loans of any Defaulting Lender shall be excluded from such calculation.

 

Restricted Investment:
any Investment by a Borrower or Subsidiary, other than (a) Investments in Subsidiaries to the extent existing on the Effective Date;
(b) Cash Equivalents that are subject to Agent’s Lien and control, pursuant to documentation in form and substance satisfactory
to Agent; (c) loans and advances permitted under Section 10.2.7; (d) Permitted Acquisitions, (e) subject to
the restrictions on intercompany loans set forth in Section 10.2.7(d), Investments in Obligors, (f) Investments
in joint ventures not to exceed $1,200,000, and (g) investments in Foreign Subsidiaries occurring in the Ordinary Course of Business
and permitted pursuant to the First Lien Credit Documents.

 

Restrictive Agreement:
an agreement (other than a Loan Document) that conditions or restricts the right of any Borrower, Subsidiary or other Obligor to incur
or repay Borrowed Money, to grant Liens on any assets, to declare or make Distributions, to modify, extend or renew any agreement evidencing
Borrowed Money, or to repay any intercompany Debt.

 

Royalties: all royalties,
fees, expense reimbursement and other amounts payable by an Obligor under a License.

 

S&P: Standard &
Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, and its successors.

 

Sanction: any sanction
administered or enforced by the U.S. Government (including OFAC), the Canadian Government, United Nations Security Council, European
Union, Her Majesty’s Treasury or other sanctions authority

 

SDN List: means the
list of the Specially Designated Nationals and Blocked Persons.

 

Secured Parties: Agent
and Lenders.

 

    21 

     

    

 

Security Documents:
the Guaranties, IP Assignments, Deposit Account Control Agreements and all other documents, instruments and agreements now or hereafter
securing (or given with the intent to secure) any Obligations.

 

Senior Officer: the
chairman of the board, president, chief executive officer or chief financial officer of a Borrower or, if the context requires, an Obligor.

 

SI Asia: means Summer
Infant Asia, Ltd., a Hong Kong Private Limited Company.

 

SI Canada: means Summer
Infant Canada, Limited, a corporation formed under the laws of the Province of New Brunswick.

 

SI UK: means Summer
Infant Europe Limited, a private company with limited liability incorporated in and registered under the laws of England and Wales with
company number 4322137.

 

Small Business Administration:
means the U.S. Small Business Administration.

 

Solvent: as to any
Person, such Person (a) owns Property whose Fair Salable Value is greater than the amount required to pay all of its debts (including
contingent, subordinated, unmatured and unliquidated liabilities); (b) owns Property whose present Fair Salable Value is greater
than the probable total liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of such Person as they
become absolute and matured; (c) is able to pay all of its debts as they mature; (d) has capital that is not unreasonably small
for its business and is sufficient to carry on its business and transactions and all business and transactions in which it is about to
engage; (e) is not “insolvent” within the meaning of Section 101(32) of the Bankruptcy Code (for SI UK this subsection
(e) shall not be applicable); (f) is not an “insolvent person” within the meaning of the Bankruptcy and Insolvency
Act (Canada); (g) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise)
under any Loan Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present
or future creditors of such Person or any of its Affiliates; and (h) with respect to any Person incorporated in England and Wales,
(i) it is not unable and does not admit its inability to pay its debts as they fall due, (ii) it is not deemed to, or is not
declared to, be unable to pay its debts under applicable law, (iii) it has not suspended or threatened to suspend making payments
on any of its debts or (iv) by reason of actual or anticipated financial difficulties, it has not commenced negotiations with one
or more of its creditors with a view to rescheduling any of its indebtedness.

 

Specified Obligor:
an Obligor that is not then an "eligible contract participant" under the Commodity Exchange Act (determined prior to giving
effect to Section 5.11).

 

Spot Rate: the exchange
rate, as determined by Agent, that is applicable to conversion of one currency into another currency, which is (a) the exchange
rate reported by Bloomberg (or other commercially available source designated by Agent) as of the end of the preceding business day in
the financial market for the first currency; or (b) if such report is unavailable for any reason, the spot rate for the purchase
of the first currency with the second currency as in effect during the preceding business day in Agent’s principal foreign exchange
trading office for the first currency.

 

Standby Term Loan:
a loan made pursuant to Section 2.1.

 

Standby Term Loan Commitment:
for any Lender, the obligation of such Lender to make a Standby Term Loan hereunder, up to the principal amount (as shown on Schedule
1.1(a), as hereafter modified pursuant to an Assignment and Acceptance to which it is a party, or pursuant to Section 2.1.4).

 

Standby Term Loan Commitments:
the aggregate Term Loan Commitments of all Lenders. The aggregate Standby Term Loan Commitments equal $5,000,000.

 

    22 

     

    

 

Standby Term Loan Maturity
Date: April 19, 2026.

 

Subordinated Debt:
Debt incurred by a Borrower that is expressly subordinate and junior in right of payment to Full Payment of all Obligations, and is on
terms (including maturity, interest, fees, repayment, covenants and subordination) satisfactory to Agent in its exclusive discretion.

 

Subsidiary: any entity
at least 50% of whose voting securities or Equity Interests is owned by a Borrower or any combination of Borrowers (including indirect
ownership by a .Borrower through other entities in which the Borrower directly or indirectly owns 50% of the voting securities or Equity
Interests).

 

Swap Obligations:
with respect to an Obligor, its obligations under a Hedging Agreement that constitutes a "swap" within the meaning of Section 1a(47)
of the Commodity Exchange Act

 

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.

 

Termination Date:
the earliest to occur of (a) Standby Term Loan Maturity Date or (b) the date on which the Standby Term Loan Commitments are
terminated pursuant to Section 11.2.

 

Transferee: any actual
or potential Eligible Assignee, Participant or other Person acquiring an interest in any Obligations.

 

UCC: the Uniform Commercial
Code as in effect in the State of New York or, when the laws of any other jurisdiction govern the perfection or enforcement of any Lien,
the Uniform Commercial Code of such jurisdiction.

 

UK Anti-Terrorism Laws:
the Criminal Justice (Terrorism and Conspiracy) Act 1998, the Terrorism Act 2000, the Anti-Terrorism, Crime and Security Act 2001, the
Prevention of Terrorism Act 2005, the Terrorism Act 2006, the Money Laundering Regulations 2007 and the Counter-Terrorism Act 2008.

 

UK Subsidiaries: any
Subsidiary of Company that is organized under the laws of England and Wales.

 

Unfunded Pension Liability:
the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension
Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to the Code, ERISA or the
Pension Protection Act of 2006 for the applicable plan year; (specifically excluding SI UK from this definition).

 

U.S. Person: "United
States Person" as defined in Section 7701(a)(30) of the Code.

 

U.S. Tax Compliance Certificate:
as defined in Section 5.10.2(b)(iii).

 

Upstream Payment:
a Distribution by a Subsidiary of a Borrower to such Borrower.

 

Value: (a) for Inventory,
its value determined on the basis of the lower of cost or market, calculated on a first-in, first-out basis, and excluding any portion
of cost attributable to intercompany profit among Obligors and their Affiliates; and (b) for an Account, its face amount, net of
any returns, rebates, discounts (calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other taxes)
that have been or could be claimed by the Account Debtor or any other Person.

 

Wynnefield: Wynnefield
Capital, Inc. a Delaware corporation, and its successors and assigns.

 

    23 

     

    

 

Wynnefield Indemnitees:
Wynnefield and its officers, directors, employees, Affiliates, agents and attorneys.

 

1.2.        Accounting
Terms. Under the Loan Documents (except as otherwise specified herein), all accounting terms shall be interpreted, all accounting
determinations shall be made, and all financial statements shall be prepared, in accordance with GAAP applied on a basis consistent with
the most recent audited financial statements of Borrowers delivered to Agent before the Effective Date, except for any change required
or permitted by GAAP if Borrowers’ certified public accountants concur in such change, the change is disclosed to Agent, and Section 10.3
is amended in a manner satisfactory to Required Lenders to take into account the effects of the change.

 

1.3.        Uniform
Commercial Code. As used herein, the following terms are defined in accordance with the UCC in effect in the State of New York
from time to time: “Chattel Paper,” “Commercial Tort Claim,” “Commodities Accounts,” “Commodities
Contracts,” “Electronic Chattel Paper,” “Equipment,” “Financial Assets,” “Fixtures,”
 “General Intangibles,” “Goods,” “Instruments,” “Intangibles,” “Investment Property,”
 “Letter-of-Credit Right,” “Payment Intangibles,” “Proceeds,” “Promissory Notes,” “Records,”
 “Securities Accounts,” “Security,” “Security Entitlements,” “Supporting Obligations,”
and “Tangible Chattel Paper.”

 

1.4.        Certain
Matters of Construction. The terms “herein,” “hereof,” “hereunder” and other words of similar
import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed
to cover all genders. In the computation of periods of time from a specified date to a later specified date, “from” means
 “from and including,” and “to” and “until” each mean “to but excluding.” The terms “including”
and “include” shall mean “including, without limitation” and, for purposes of each Loan Document, the parties
agree that the rule of ejusdem generis shall not be applicable to limit any provision. Section titles appear as a matter
of convenience only and shall not affect the interpretation of any Loan Document. All references to (a) laws or statutes include
all related rules, regulations, interpretations, amendments and successor provisions; (b) any document, instrument or agreement
include any amendments, waivers and other modifications, extensions or renewals (to the extent permitted by the Loan Documents); (c) any
section mean, unless the context otherwise requires, a section of this Agreement; (d) any exhibits or schedules mean, unless the
context otherwise requires, exhibits and schedules attached hereto, which are hereby incorporated by reference; (e) any Person include
successors and assigns; (f) time of day mean time of day at Agent’s notice address under Section 14.3.1; or (g) discretion
of Agent or any Lender mean the sole and absolute discretion of such Person. All determinations (including calculations of the financial
covenants) made from time to time under the Loan Documents shall be made in light of the circumstances existing at such time. Borrowers
shall have the burden of establishing any alleged negligence, misconduct or lack of good faith by Agent or any Lender under any Loan
Documents. No provision of any Loan Documents shall be construed against any party by reason of such party having, or being deemed to
have, drafted the provision. A reference to Borrowers’ “knowledge” or similar concept means actual knowledge of a Senior
Officer, or knowledge that a Senior Officer would have obtained if he or she had engaged in good faith and diligent performance of his
or her duties, including reasonably specific inquiries of employees or agents and a good faith attempt to ascertain the matter. To the
extent the definition of any category or type of collateral is expanded by any amendment, modification or revision to the Uniform Commercial
Code, such expanded definition will apply automatically as of the date of such amendment, modification or revision.

 

Any reference herein to a merger, transfer, consolidation,
amalgamation, assignment, sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability
company, or an allocation of assets to a series of a limited liability company (or the unwinding of such a division or allocation), as
if it were a merger, transfer, consolidation, amalgamation, assignment, sale, disposition or transfer, or similar term, as applicable,
to, of or with a separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and each
division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute such a Person
or entity).

 

    24 

     

    

 

1.5.        Currency
Equivalents.

 

1.5.1.        Calculations.
All references in the Loan Documents to Loans, Obligations and other amounts shall be denominated in Dollars, unless expressly provided
otherwise. The “Dollar Equivalent” of any amounts denominated or reported under a Loan Document in a currency other
than Dollars shall be determined by Agent on a daily basis, based on the current Spot Rate. Borrowers shall, unless expressly provided
otherwise, shall deliver financial statements and calculate financial covenants in Dollars. Notwithstanding anything herein to the contrary,
if any Obligation is funded and expressly denominated in a currency other than Dollars, Borrowers shall repay such Obligation in such
other currency.

 

1.5.2.        Judgments.
If, for purposes of obtaining judgment in any court, it is necessary to convert a sum from the currency provided under a Loan Document
(“Agreement Currency”) into another currency, the Spot Rate shall be used as the rate of exchange. Notwithstanding any judgment
in a currency (“Judgment Currency”) other than the Agreement Currency, a Borrower shall discharge its obligation in respect
of any sum due under a Loan Document only if, on the Business Day following receipt by Agent of payment in the Judgment Currency, Agent
can use the amount paid to purchase the sum originally due in the Agreement Currency. If the purchased amount is less than the sum originally
due, such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify Agent and Lenders against such
loss. If the purchased amount is greater than the sum originally due, Agent shall return the excess amount to such Borrower (or to the
Person legally entitled thereto).

 

Section 2.         CREDIT
FACILITIES

 

2.1.        Standby
Term Loan Commitments.

 

2.1.1.        Standby
Term Loans. Each Lender agrees severally, up to its Standby Term Loan Commitment and on the terms set forth herein, to make Standby
Term Loans to Borrowers from time to time from during the Availability Period. In no event shall Lenders have any obligation to honor
a request for a Standby Term Loan unless (i) on the date of the Notice of Borrowing and on the date of such Borrowing, the daily
average Availability (as defined in the First Lien Loan Agreement) for the immediately prior 30 days is equal to or less than $6,000,000
or (ii) on the date of the Notice of Borrowing and on the date of such Borrowing, the Borrowing Base Certificate that was delivered
pursuant to the First Lien Credit Agreement on the immediately prior Wednesday (in respect of the calendar week immediately prior to
such delivery) reflects Availability equal to or less than $3,000,000.

 

2.1.2.        Notes.
The Standby Term Loans made by each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender.
At the request of any Lender, Borrowers shall deliver to such Lender a promissory note evidencing such Lender’s Standby Term Loans.

 

2.1.3.        Use
of Proceeds. The proceeds of the Standby Term Loans shall be used by Borrowers solely (a) to satisfy existing Debt; (b) to
pay fees and transaction expenses associated with the closing of this term loan facility and the First Lien Loan Agreement; (c) to
pay Obligations in accordance with this Agreement; and (d) for lawful corporate purposes of Borrowers, including working capital.
Borrowers shall not, directly or indirectly, use any Loan proceeds, nor use, lend, contribute or otherwise make available any Loan proceeds
to any Subsidiary, joint venture partner or other Person, (i) to fund any activities of or business with any Person, or in any Designated
Jurisdiction, that, at the time of funding of the Loan, is the subject of any Sanction; or (ii) in any manner that would result
in a violation of a Sanction by any Person (including any Secured Party or other individual or entity participating in a transaction).

 

    25 

     

    

 

2.1.4.        Termination
and Reduction of Standby Term Loan Commitments.

 

(a)        The
Standby Term Loan Commitments shall terminate on the Termination Date, unless sooner terminated in accordance with this Agreement. Upon
at least 30 days prior written notice to Agent, Borrowers may, at their option, terminate the Standby Term Loan Commitments. Any notice
of termination of the Standby Term Loan Commitments given by Borrowers shall be irrevocable. On the Termination Date, Borrowers shall
make Full Payment of all Obligations.

 

(b)        Borrowers
may permanently reduce the Standby Term Loan Commitments (on a pro rata basis in accordance with each Lender’s Applicable Percentage),
upon at least 5 Business Days’ prior written notice to Agent, which notice shall specify the aggregate amount of the reduction
and shall be irrevocable once given. The aggregate amount of each reduction shall be in a minimum amount of $1,250,000.

 

Section 3.         INTEREST,
FEES AND CHARGES

 

3.1.        Interest.

 

(a)        Subject
to Section 3.1(b), the Standby Term Loans shall bear interest on the outstanding principal amount thereof for each Interest
Period (i) prior to the second anniversary of the Effective Date, at the rate per annum equal to 5.00%, and (ii) at
the rate per annum equal to 9.00% at all times thereafter.

 

(b)        During
an Insolvency Proceeding with respect to any Obligor, or during any other Event of Default if Agent or Required Lenders in their discretion
so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Each Obligor acknowledges that
the cost and expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and
reasonable compensation for this.

 

(c)        Interest
shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in full by Borrowers. If a Loan is repaid
on the same day made, one day’s interest shall accrue. Interest accrued on the Standby Term Loans shall be due and payable quarterly
in arrears, (i) on each Interest Payment Date; (ii) on any date of prepayment, with respect to the principal amount of Standby
Term Loans being prepaid; and (iii) if not previously paid in full, on the Termination Date. Interest accrued on any other Obligations
shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand.
Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

 

3.2.        Fees.

 

3.2.1.        Unused
Line Fee. Borrowers shall pay to Agent, for the pro rata benefit of Lenders (based upon each Lender’s Applicable Percentage
of the aggregate Standby Term Loan Commitments), a fee equal to 0.25% per month times the amount by which the aggregate
Standby Term Loan Commitments exceed the average daily balance of Standby Term Loans during any month. Such fee shall be due and payable
quarterly in arrears, on the first day of each Fiscal Quarter following the date hereof and on the Termination Date.

 

3.2.2.        Fee
Letters Borrower shall pay all fees set forth in any fee letter executed in connection with this Agreement.

 

3.2.3.        Termination
Fee. If at any time a Borrower pays, prepays or repays the Standby Term Loans in whole upon the occurrence of an Event of Default
described in Section 11.1(m) or (n), then on the effective date of such payment, prepayment or repayment, as applicable,
the Borrowers shall pay to the Administrative Agent, for the benefit of the Lenders, a fee equal to $50,000.

 

    26 

     

    

 

3.3.        Computation
of Interest, Fees, Yield Protection. All interest, as well as fees and other charges calculated on a per annum basis, shall be
computed for the actual days elapsed, based on a year of 360 days. Each determination by Agent of any interest, fees or interest rate
hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and
shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and
are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as
to amounts payable by Borrowers under Section 3.4 or 5.9, submitted to Borrower Agent by Agent or the affected Lender,
as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such amounts to
the appropriate party within 10 days following receipt of the certificate.

 

3.4.        Reimbursement
Obligations. Borrowers shall reimburse Agent and Lenders for all Extraordinary Expenses. Borrowers shall also reimburse Agent
for all reasonable and documented legal, accounting, appraisal, consulting, and other fees, costs and expenses incurred by it in connection
with (a) negotiation and preparation of any Loan Documents, including any amendment or other modification thereof; (b) administration
of and actions relating to any Collateral, Loan Documents and transactions contemplated thereby, including any actions taken to perfect
or maintain priority of Agent’s Liens on any Collateral, to maintain any insurance required hereunder or to verify Collateral;
and (c) subject to the limits of Section 10.1.1(b), each inspection, audit or appraisal with respect to any Obligor
or Collateral, whether prepared by Agent’s personnel or a third party. All amounts payable by Borrowers under this Section shall
be due on demand.

 

3.5.        [Reserved].

 

3.6.        [Reserved].

 

3.7.        [Reserved].

 

3.8.        [Reserved].

 

3.9.        [Reserved].

 

3.10.        Maximum
Interest. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under
the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by Applicable Law (“maximum rate”).
If Agent or any Lender shall receive interest in an amount that exceeds the maximum rate, the excess interest shall be applied to the
principal of the Obligations or, if it exceeds such unpaid principal, refunded to Borrowers. In determining whether the interest contracted
for, charged or received by Agent or a Lender exceeds the maximum rate, such Person may, to the extent permitted by Applicable Law, (a) characterize
any payment that is not principal as an expense, fee or premium rather than interest; (b) exclude voluntary prepayments and the
effects thereof; and (c) amortize, prorate, allocate and spread in equal or unequal parts the total amount of interest throughout
the contemplated term of the Obligations hereunder.

 

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Section 4.         LOAN
ADMINISTRATION

 

4.1.        Manner
of Borrowing and Funding of Standby Term Loans.

 

4.1.1.        Notice
of Borrowing.

 

(a)        Whenever
Borrowers desire funding of a Borrowing, Borrower Agent shall give Agent a Notice of Borrowing. Such notice must be received by Agent
no later than 11:00 a.m. (Eastern Time) on the date which is not less than five (5) Business Days prior to the requested funding
date (and such funding date shall occur no later than ten (10) Business Days of Agent’s receipt of such Notice of Borrowing);
provided that no Notice of Borrowing shall be delivered within thirty (30) days of the immediately preceding Borrowing. Notices received
after 11:00 a.m. (Eastern Time) shall be deemed received on the next Business Day. Notwithstanding anything herein to the contrary,
first funding date shall occur on the Effective Date. Each Notice of Borrowing shall be irrevocable and shall specify (A) the amount
of the Borrowing and (B) the requested funding date (which must be a Business Day); provided that, on the Effective Date, such Standby
Term Loan shall be in a principal amount of $2,000,000, and on any other funding date, such Standby Term Loan shall be in a principal
amount of $1,000,000.

 

(b)        Unless
payment is otherwise timely made by Borrowers, the becoming due of any Obligations (whether principal, interest, fees or other charges,
including Extraordinary Expenses and Cash Collateral) shall be deemed to be a request for the Standby Term Loans, on the due date, in
the amount of such Obligations. The proceeds of Standby Term Loans shall be disbursed as direct payment of the relevant Obligation.

 

4.1.2.        Fundings
by Lenders. Each Lender shall timely honor its Standby Term Loan Commitments by funding its Applicable Percentage of each Borrowing
that is properly requested hereunder. Each Lender shall fund to Agent or directly to Borrower such Lender’s Applicable Percentage
of the Borrowing to the account specified by Agent in immediately available funds not later than 2:00 p.m. (Eastern time) on the
requested funding date, unless Agent’s notice is received after the times provided above, in which case Lender shall fund its Applicable
Percentage by 11:00 a.m. (Eastern time) on the next Business Day. Subject to its receipt of such amounts from Lenders, Agent shall
disburse the proceeds of each Borrowing as directed by Borrower Agent. Unless Agent shall have received (in sufficient time to act) written
notice from a Lender that it does not intend to fund its Applicable Percentage of a Borrowing, Agent may assume that such Lender has
deposited or promptly will deposit its share with Agent, and Agent may disburse a corresponding amount to Borrowers.

 

4.1.3.        Notices.
Borrowers may request Loans and transfer funds based on telephonic or e-mailed instructions to Agent. Borrowers shall confirm each such
request by prompt delivery to Agent of a Notice of Borrowing, but if it differs materially from the action taken by Agent or Lenders,
the records of Agent and Lenders shall govern. Neither Agent nor any Lender shall have any liability for any loss suffered by a Borrower
as a result of Agent or any Lender acting upon its understanding of telephonic or e-mailed instructions from a person believed in good
faith by Agent or any Lender to be a person authorized to give such instructions on a Borrower’s behalf.

 

4.2.        Defaulting
Lender.

 

4.2.1.        Reallocation
of Applicable Percentage; Amendments. For purposes of determining Lenders’ obligations to fund or participate in the Standby
Term Loans, Agent may exclude the Standby Term Loans or Standby Term Loan Commitments of any Defaulting Lender(s) from the calculation
of Applicable Percentages. A Defaulting Lender shall have no right to vote on any amendment, waiver or other modification of a Loan Document,
except as provided in Section 14.1.1(c).

 

4.2.2.        Payments;
Fees. Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a
Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders
and other Secured Parties have been paid in full. Agent may apply such amounts to the Defaulting Lender’s defaulted obligations,
use the funds to readvance the amounts to Borrowers hereunder. A Lender shall not be entitled to receive any fees accruing hereunder
during the period in which it is a Defaulting Lender, and the unfunded portion of its Standby Term Loan Commitment shall be disregarded
for purposes of calculating the unused line fee under Section 3.2.1.

 

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4.2.3.        Cure.
Borrowers and Agent may agree in writing that a Lender is no longer a Defaulting Lender. At such time, Applicable Percentages shall be
reallocated without exclusion of such Lender’s Standby Term Loan Commitments and Loans, and all outstanding Standby Term Loans
and other exposures under the Standby Term Loan Commitments shall be reallocated among Lenders and settled by Agent (with appropriate
payments by the reinstated Lender) in accordance with the readjusted Applicable Percentages. Unless expressly agreed by Borrowers and
Agent, no reinstatement of a Defaulting Lender shall constitute a waiver or release of claims against such Lender. The failure of any
Lender to fund a Loan or otherwise to perform its obligations hereunder shall not relieve any other Lender of its obligations, and no
Lender shall be responsible for default by another Lender.

 

4.3.          [Reserved].

 

4.4.          Borrower
Agent. Each Borrower and Obligor hereby designates SI USA (“Borrower Agent”) as its representative and agent for
all purposes under the Loan Documents, including requests for Standby Term Loans, delivery or receipt of communications, preparation
and delivery of financial reports, receipt and payment of Obligations, requests for waivers, amendments or other accommodations, actions
under the Loan Documents (including in respect of compliance with covenants), and all other dealings with Agent or any Lender. Borrower
Agent hereby accepts such appointment. Agent and Lenders shall be entitled to rely upon, and shall be fully protected in relying upon,
any notice or communication (including any notice of borrowing) delivered by Borrower Agent on behalf of any Borrower or another Obligor.
Agent and Lenders may give any notice or communication with a Borrower or another Obligor hereunder to Borrower Agent on behalf of such
Borrower or another Obligor. Each of Agent and Lenders shall have the right, in its discretion, to deal exclusively with Borrower Agent
for any or all purposes under the Loan Documents. Each Borrower and Obligor agrees that any notice, election, communication, representation,
agreement or undertaking made on its behalf by Borrower Agent shall be binding upon and enforceable against it.

 

4.5.        One
Obligation. The Standby Term Loans and other Obligations constitute one general obligation of Borrowers and are secured by Agent’s
Lien on all Collateral; provided, however, that Agent and each Lender shall be deemed to be a creditor of, and the holder
of a separate claim against, each Borrower to the extent of any Obligations jointly and severally, owed by such Borrower.

 

4.6.        Effect
of Termination. On the effective date of the termination of all Standby Term Loan Commitments, the Obligations shall be immediately
due and payable. Until Full Payment of the Obligations, all undertakings of Borrowers contained in the Loan Documents shall continue,
and Agent shall retain its Liens in the Collateral and all of its rights and remedies under the Loan Documents. Agent shall not be required
to terminate its Liens unless it receives Cash Collateral or a written agreement, in each case satisfactory to it, protecting Agent and
Lenders from the dishonor or return of any Payment Items previously applied to the Obligations. Sections 3.4, 5.5, 5.9, 5.10,
12, 14.2, this Section, and each indemnity or waiver given by an Obligor or Lender in any Loan Document, shall survive Full Payment
of the Obligations.

 

Section 5.         PAYMENTS

 

5.1.        General
Payment Provisions. All payments of Obligations shall be made in Dollars, without offset, counterclaim or defense of any kind,
free of (and without deduction for) any Taxes, except as required by Applicable Law, and in immediately available funds, not later than
12:00 noon on the due date. Any payment after such time shall be deemed made on the next Business Day. Borrowers agree that Agent shall
have the continuing, exclusive right to apply and reapply payments and proceeds of Collateral against the Obligations, in such manner
as Agent deems advisable.

 

5.2.        [Reserved].

 

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5.3.          Repayment
of Standby Term Loans; Prepayments.

 

5.3.1.        Payment
of Principal. The principal amount of the Standby Term Loans shall be repaid on the first day of each calendar quarter in consecutive
quarterly installments of two and one half percent (2.5%) of the highest amount of Standby Term Loans outstanding under this Agreement
during such relevant calendar quarter, commencing on July 1, 2022 and continuing until the Standby Term Loan Maturity Date, on which
date all principal, interest and other amounts owing with respect to the Standby Term Loans shall be due and payable in full. Each installment
shall be paid to Agent for the pro rata benefit of Lenders, in accordance with each Lender’s Applicable Percentage of the Term
Loans. Once repaid, whether such repayment is voluntary or required, Standby Term Loans may not be reborrowed.

 

5.3.2.        Prepayments.

 

(a)        Optional.
Subject to the terms of the Intercreditor Agreement, Borrower may, at its option, prepay the Standby Term Loans, without penalty or premium
(other than any payment due pursuant to Section 3.2.3 hereof), which prepayment must be at least $50,000. Borrower shall
give written notice to Agent of an intended prepayment of Standby Term Loans not later than 3 Business Days prior to the date of such
prepayment, which notice shall specify the amount of the prepayment and be irrevocable once given; provided, that if a notice of prepayment
is given in connection with a conditional notice of termination of the Standby Term Loan Commitments as contemplated by Section 2.1.4(a),
then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.1.4(a).

 

(b)        Mandatory.
Subject to the terms of the Intercreditor Agreement, Borrower shall prepay the Standby Term Loans on a quarterly basis on each Interest
Payment Date in an amount equal to the product of (i) Borrower’s daily average Availability (as defined in the First Lien
Loan Agreement) for the immediately prior thirty days less $10,000,000 multiplied by (ii) 0.50; provided, that to the extent the
Payment Conditions (as defined in the Intercreditor Agreement) are not fulfilled, Borrower shall only pay such amount of the foregoing
payment which it is able to pay without violating the Payment Conditions.

 

5.3.3.        Application
of Prepayments. Each prepayment of Standby Term Loans shall be accompanied by all interest accrued thereon and shall be applied to
principal in inverse order of maturity.

 

5.4.        Payment
of Other Obligations. Obligations other than Loans, including Extraordinary Expenses, shall be paid by Borrowers as provided
in the Loan Documents or, if no payment date is specified, on demand.

 

5.5.        Marshaling;
Payments Set Aside. None of Agent or Lenders shall be under any obligation to marshal any assets in favor of any Obligor or against
any Obligations. If any payment by or on behalf of Borrowers is made to Agent or any Lender, or Agent or any Lender exercises a right
of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent
or preferential, set aside or required (including pursuant to any settlement entered into by Agent or such Lender in its discretion)
to be repaid to a trustee, receiver or any other Person, then to the extent of such recovery, the Obligation originally intended to be
satisfied, and all Liens, rights and remedies relating thereto, shall be revived and continued in full force and effect as if such payment
had not been made or such setoff had not occurred..

 

5.6.        Application
and Allocation of Payments.

 

5.6.1.        Application.
Payments made by Borrowers hereunder shall be applied (a) first, as specifically required hereby; (b) second,
to Obligations then due and owing; (b) third, to other Obligations specified by Borrowers; and (c) fourth, as
determined by Agent in its discretion.

 

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5.6.2.        Post-Default
Allocation.

 

(a)  Notwithstanding anything
in any Loan Document to the contrary, during an Event of Default, monies to be applied to the Obligations, whether arising from payments
by Obligors, realization on the Collateral, setoff or otherwise, shall be allocated as follows:

 

(i)        first,
to all Extraordinary Expenses owing to Agent and Lenders, and to all other costs and expenses owing to Agent;

 

(ii)        second,
to all Obligations constituting fees owing or related to the Standby Term Loans;

 

(iii)        third,
to all Obligations constituting interest in respect of the Standby Term Loans;

 

(vi)        fourth,
to the Standby Term Loans; and

 

(v)        last,
to all remaining Obligations.

 

(b)        Subject
to the priorities set forth in clause (a) above, amounts shall be applied to payment of each category of Obligations only after
Full Payment of amounts payable from time to time under all preceding categories. If amounts are insufficient to satisfy a category,
they shall be paid ratably among outstanding Obligations in the category. Monies and proceeds obtained from an Obligor shall not be applied
to its Excluded Swap Obligations, but appropriate adjustments shall be made with respect to amounts obtained from other Obligors to preserve
the allocations in any applicable category. If the provider fails to deliver the calculation within five days following request, Agent
may assume the amount is zero. The allocations set forth in this Section 5.6.2 are solely to determine the rights and priorities
among Secured Parties, and may be changed by agreement of the affected Secured Parties, without the consent of any Obligor. This Section is
not for the benefit of or enforceable by any Obligor, and each Borrower irrevocably waives the right to direct the application of any
payments or Collateral proceeds subject to this Section 5.6.2.

 

5.6.3.        Erroneous
Application. Agent shall not be liable for any application of amounts made by it in good faith and, if any such application is subsequently
determined to have been made in error, the sole recourse of any Lender or other Person to which such amount should have been made shall
be to recover the amount from the Person that actually received it (and, if such amount was received by any Lender, such Lender hereby
agrees to return it).

 

5.7.        Dominion
Accounts. Until the payment in full of the First Lien Debt (as defined in the Intercreditor Agreement), and subject to the Intercreditor
Agreement, during any Cash Dominion Period (as defined in the First Lien Loan Agreement), the ledger balances in the Dominion Accounts
as of the end of each Business Day shall be applied to the Obligations arising under the First Lien Loan Agreement at the beginning of
the next Business Day; provided that, notwithstanding anything to contrary set forth herein, at all times (regardless of whether
a Cash Dominion Period is in effect), the ledger balances in all Dominion Accounts maintained by the UK Subsidiary shall be applied to
the Obligations arising under the First Lien Loan Agreement at the beginning of the next Business Day. If, as a result of such application,
a credit balance exists, the balance shall not accrue interest in favor of Borrowers and shall be made available to Borrowers as long
as no Default or Event of Default exists. If, at any time a Cash Dominion Period (as defined in the First Lien Loan Agreement) shall
not be in effect, the aggregate balance of all cash held in all Deposit Accounts of Obligors (including all Dominion Accounts and all
Excluded Deposit Accounts (other than (x) Deposit Accounts described in clause (a) of the definition of “Excluded Deposit
Accounts” and (y) the CARES Account), shall exceed $2,000,000 for more than five Business Days, until the payment in full
of the First Lien Debt, and subject to the Intercreditor Agreement, the Obligors shall remit to First Lien Agent to be applied to the
Obligations arising under the First Lien Loan Agreement in an amount sufficient to cause such aggregate balance in all Deposit Accounts
to be less than $2,000,000.

 

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5.8.           Account
Stated. The Agent shall maintain in accordance with its usual and customary practices account(s) evidencing the Debt of
Borrowers hereunder. Any failure of Agent to record anything in a loan account, or any error in doing so, shall not limit or otherwise
affect the obligation of Borrowers to pay any amount owing hereunder. Entries made in a loan account shall constitute presumptive evidence
of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information
shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Agent
in writing within 30 days after receipt or inspection that specific information is subject to dispute.

 

5.9.           Taxes.

 

5.9.1.      Payments
Free of Taxes; Obligation to Withhold; Tax Payment.

 

(a)           All
payments of Obligations by Obligors shall be made without deduction or withholding for any Taxes, except as required by Applicable Law.
If Applicable Law (as determined by Agent in its discretion) requires the deduction or withholding of any Tax from any such payment by
Agent or an Obligor, then Agent or such Obligor shall be entitled to make such deduction or withholding. The Agent or such Obligor, as
applicable, may take into account any applicable information and documentation provided pursuant to Section 5.10.

 

(b)          If
Agent or any Obligor is required by the Code to withhold or deduct Taxes, including backup withholding and withholding taxes, from any
payment, then (i) Agent shall pay the full amount that it determines is to be withheld or deducted to the relevant Governmental
Authority pursuant to the Code, and (ii) to the extent the withholding or deduction is made on account of Indemnified Taxes, the
sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount equal to the sum it would
have received had no such withholding or deduction been made.

 

(c)           If
Agent or any Obligor is required by any Applicable Law other than the Code or the Income Tax Act (Canada) to withhold or deduct Taxes
from any payment, then (i) Agent or such Obligor, to the extent required by Applicable Law, shall timely pay the full amount to
be withheld or deducted to the relevant Governmental Authority, and (ii) to the extent the withholding or deduction is made on account
of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount
equal to the sum it would have received had no such withholding or deduction been made.

 

5.9.2.      Payment
of Other Taxes. Without limiting the foregoing, Borrowers shall timely pay to the relevant Governmental Authority in accordance with
Applicable Law, or at Agent's option, timely reimburse Agent for payment of, any Other Taxes.

 

5.9.3.      Tax
Indemnification.

 

(a)           Each
Borrower shall indemnify and hold harmless, on a joint and several basis, each Recipient against any Indemnified Taxes (including those
imposed or asserted on or attributable to amounts payable under this Section) payable or paid by a Recipient or required to be withheld
or deducted from a payment to a Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto,
whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. Each Borrower
shall indemnify and hold harmless Agent against any amount that a Lender fails for any reason to pay indefeasibly to Agent as required
pursuant to this Section. Each Borrower shall make payment within 10 days after demand for any amount or liability payable under this
Section. A certificate as to the amount of such payment or liability delivered to Borrowers by a Lender (with a copy to Agent), or by
Agent on its own behalf or on behalf of any Recipient, shall be conclusive absent manifest error.

 

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(b)          Each
Lender shall indemnify and hold harmless, on a several basis, (i) Agent against any Indemnified Taxes attributable to such Lender
(but only to the extent Borrowers have not already paid or reimbursed Agent therefor and without limiting Borrowers’ obligation
to do so), (ii) Agent and Obligors, as applicable, against any Taxes attributable to such Lender’s failure to maintain a Participant
register as required hereunder, and (iii) Agent and Obligors, as applicable, against any Excluded Taxes attributable to such Lender
that are payable or paid by Agent or an Obligor in connection with any Obligations, and any reasonable expenses arising therefrom or
with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. Each Lender shall make payment within 10 days after demand for any amount or liability payable under this Section. A certificate
as to the amount of such payment or liability delivered to any Lender by Agent shall be conclusive absent manifest error.

 

5.9.4.      Evidence
of Payments. If Agent or an Obligor pays any Taxes pursuant to this Section, then upon request, Agent shall deliver to Borrower Agent
or Borrower Agent shall deliver to Agent, respectively, a copy of a receipt issued by the appropriate Governmental Authority evidencing
the payment, a copy of any return required by Applicable Law to report the payment, or other evidence of payment reasonably satisfactory
to Agent or Borrower Agent, as applicable.

 

5.9.5.      Treatment
of Certain Refunds. Unless required by Applicable Law, at no time shall Agent have any obligation to file for or otherwise pursue
on behalf of a Lender, nor have any obligation to pay to any Lender, any refund of Taxes withheld or deducted from funds paid for the
account of a Lender. If a Recipient determines in its discretion that it has received a refund of any Taxes as to which it has been indemnified
by Borrowers or with respect to which a Borrower has paid additional amounts pursuant to this Section, it shall pay Borrowers an amount
equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by Borrowers with respect to the
Taxes giving rise to such refund), net of all reasonable out-of-pocket expenses (including Taxes) incurred by such Recipient, and without
interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that Borrowers agree,
upon request by the Recipient, to repay the amount paid over to Borrowers (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) to the Recipient if the Recipient is required to repay such refund to the Governmental Authority. Notwithstanding
anything herein to the contrary, no Recipient shall be required to pay any amount to Borrowers if such payment would place the Recipient
in a less favorable net after-Tax position than it would have been in if the Tax subject to indemnification and giving rise to such refund
had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax
had never been paid. In no event shall Agent or any Recipient be required to make its tax returns (or any other information relating
to its taxes that it deems confidential) available to any Obligor or other Person.

 

5.9.6.      Survival.
Each party's obligations under Sections 5.9 and 5.10 shall survive the resignation or replacement of Agent or any assignment
of rights by or replacement of a Lender, the termination of the Standby Term Loan Commitments, and the repayment, satisfaction, discharge
or Full Payment of any Obligations.

 

5.10.         Lender
Tax Information.

 

5.10.1.    Status
of Lenders. Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments of Obligations
shall deliver to Borrowers and Agent properly completed and executed documentation reasonably requested by Borrowers or Agent as will
permit such payments to be made without or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by Borrowers
or Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by Borrower or Agent to enable
them to determine whether such Lender is subject to backup withholding or information reporting requirements. Notwithstanding the foregoing,
such documentation (other than documentation described in Sections 5.10.2(a), (b) and (d)) shall not be required if
a Lender reasonably believes delivery of the documentation would subject it to any material unreimbursed cost or expense or would materially
prejudice its legal or commercial position.

 

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5.10.2.    Documentation.
Without limiting the foregoing,

 

(a)          Any
Lender that is a U.S. Person shall deliver to Borrowers and Agent on or prior to the date on which such Lender becomes a Lender hereunder
(and from time to time thereafter upon reasonable request of Borrowers or Agent), executed originals of IRS Form W-0, certifying
that such Lender is exempt from U.S. federal backup withholding Tax;

 

(b)          Any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrowers and Agent (in such number of copies as shall
be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender hereunder (and from time to time
thereafter upon reasonable request of Borrowers or Agent), whichever of the following is applicable:

 

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

 

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

 

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

 

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

 

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

 

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(d)          if
payment of an Obligation to a Lender would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to
comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of
the Code), such Lender shall deliver to Borrowers and Agent at the time(s) prescribed by law and otherwise as reasonably requested
by Borrowers or Agent such documentation prescribed by Applicable Law (including Section 1471(b)(3)(C)(i) of the Code) and
such additional documentation reasonably requested by Borrowers or Agent as may be necessary for them to comply with their obligations
under FATCA and to determine that such Lender has complied with its 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 hereof.

 

5.10.3.    Redelivery
of Documentation. If any form or certification previously delivered by a Lender pursuant to this Section expires or becomes
obsolete or inaccurate in any respect, such Lender shall promptly update the form or certification or notify Borrowers and Agent in writing
of its inability to do so.

 

5.11.        Nature
and Extent of Each Borrower’s Liability.

 

5.11.1.    Joint
and Several Liability. Each Borrower agrees that it is jointly and severally liable for, and absolutely and unconditionally guarantees
to Agent and Lenders the prompt payment and performance of all Obligations. Each Borrower agrees that its guaranty obligations hereunder
constitute a continuing guaranty of payment and not of collection, that such obligations shall not be discharged until Full Payment of
the Obligations, and that such obligations are absolute and unconditional, irrespective of (a) the genuineness, validity, regularity,
enforceability, subordination or any future modification of, or change in, any Obligations or Loan Document, or any other document, instrument
or agreement to which any Obligor is or may become a party or be bound; (b) the absence of any action to enforce this Agreement
(including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by Agent or any Lender with respect
thereto; (c) the existence, value or condition of, or failure to perfect a Lien or to preserve rights against, any security or guaranty
for the Obligations or any action, or the absence of any action, by Agent or any Lender in respect thereof (including the release of
any security or guaranty); (d) the insolvency of any Obligor; (e) any election by Agent or any Lender in an Insolvency Proceeding
for the application of Section 1111(b)(2) of the Bankruptcy Code; (f) any borrowing or grant of a Lien by any other Obligor,
as debtor-in-possession under Section 364 of the Bankruptcy Code or any other Insolvency Law or otherwise; (g) the disallowance
of any claims of Agent or any Lender against any Obligor for the repayment of any Obligations under Section 502 of the Bankruptcy
Code or any other Insolvency Law or otherwise; or (h) any other action or circumstances that might otherwise constitute a legal
or equitable discharge or defense of a surety or guarantor, except Full Payment of all Obligations.

 

5.11.2.    Waivers.

 

(a)           Each
Obligor expressly waives all rights that it may have now or in the future under any statute, at common law, in equity or otherwise, to
compel Agent or Lenders to marshal assets or to proceed against any Obligor, other Person or security for the payment or performance
of any Obligations before, or as a condition to, proceeding against such Obligor. Each Obligor waives all defenses available to a surety,
guarantor or accommodation co-obligor other than Full Payment of all Obligations and waives, to the maximum extent permitted by law,
any right to revoke any guaranty of any Obligations as long as it is an Obligor. It is agreed among each Obligor, Agent and Lenders that
the provisions of this Section 5.11 are of the essence of the transaction contemplated by the Loan Documents and that, but
for such provisions, Agent and Lenders would decline to make Loans. Each Obligor acknowledges that its guaranty pursuant to this Section is
necessary to the conduct and promotion of its business, and can be expected to benefit such business.

 

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(b)          Agent
and Lenders may, in their discretion, pursue such rights and remedies as they deem appropriate, including realization upon Collateral
or any Real Estate by judicial foreclosure or nonjudicial sale or enforcement, without affecting any rights and remedies under this Section 5.11.
If, in taking any action in connection with the exercise of any rights or remedies, Agent or any Lender shall forfeit any other rights
or remedies, including the right to enter a deficiency judgment against any Borrower or other Person, whether because of any Applicable
Laws pertaining to “election of remedies” or otherwise, each Borrower consents to such action and waives any claim based
upon it, even if the action may result in loss of any rights of subrogation that any Borrower might otherwise have had. Any election
of remedies that results in denial or impairment of the right of Agent or any Lender to seek a deficiency judgement against any Borrower
shall not impair any other Borrower’s obligation to pay the full amount of the Obligations. Each Borrower waives all rights and
defenses arising out of an election of remedies, such as nonjudicial foreclosure with respect to any security for the Obligations, even
though that election of remedies destroys such Borrower’s rights of subrogation against any other Person. Agent may bid all or
a portion of the Obligations at any foreclosure, trustee or other sale, including any private sale, and the amount of such bid need not
be paid by Agent but shall be credited against the Obligations. The amount of the successful bid at any such sale, whether Agent or any
other Person is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral, and the difference
between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations
guaranteed under this Section 5.11, notwithstanding that any present or future law or court decision may have the effect
of reducing the amount of any deficiency claim to which Agent or any Lender might otherwise be entitled but for such bidding at any such
sale.

 

5.11.3.    Extent
of Liability; Contribution.

 

(a)           Notwithstanding
anything herein to the contrary, each Borrower’s liability under this Section 5.11 shall be limited to the greater
of (i) all amounts for which such Borrower is primarily liable, as described below, and (ii) such Borrower’s Allocable
Amount.

 

(b)          If
any Borrower makes a payment under this Section 5.11 of any Obligations (other than amounts for which such Borrower is primarily
liable) (a “Guarantor Payment”) that, taking into account all other Guarantor Payments previously or concurrently made by
any other Borrower, exceeds the amount that such Borrower would otherwise have paid if each Borrower had paid the aggregate Obligations
satisfied by such Guarantor Payments in the same proportion that such Borrower’s Allocable Amount bore to the total Allocable Amounts
of all Borrowers, then such Borrower shall be entitled to receive contribution and indemnification payments from, and to be reimbursed
by, each other Borrower for the amount of such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior
to such Guarantor Payment. The “Allocable Amount” for any Borrower shall be the maximum amount that could then be recovered
from such Borrower under this Section 5.11 without rendering such payment voidable under Section 548 of the Bankruptcy
Code or under any applicable state fraudulent transfer or conveyance act, or similar statute or common law.

 

(c)           Nothing
contained in this Section 5.11 shall limit the liability of any Borrower to pay Standby Term Loans made directly or indirectly to
that Borrower (including Standby Term Loans advanced to any other Borrower and then re-loaned or otherwise transferred to, or for the
benefit of, such Borrower) and all accrued interest, fees, expenses and other related Obligations with respect thereto, for which such
Borrower shall be primarily liable for all purposes hereunder. Agent and Lenders shall have the right, at any time in their discretion,
to condition Loans upon a separate calculation of borrowing availability for each Borrower and to restrict the disbursement and use of
such Standby Term Loans to such Borrower.

 

5.11.4.    Joint
Enterprise. Each Borrower has requested that Agent and Lenders make this credit facility available to Borrowers on a combined basis,
in order to finance Borrowers’ business most efficiently and economically. Borrowers’ business is a mutual and collective
enterprise, and the successful operation of each Obligor is dependent upon the successful performance of the integrated group. Borrowers
believe that consolidation of their credit facility will enhance the borrowing power of each Borrower and ease administration of the
facility, all to their mutual advantage. Borrowers acknowledge that Agent’s and Lenders’ willingness to extend credit and
to administer the Collateral on a combined basis hereunder is done solely as an accommodation to Borrowers and at Borrowers’ request.

 

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5.11.5.    Subordination.
Each Obligor hereby subordinates any claims, including any rights at law or in equity to payment, subrogation, reimbursement, exoneration,
contribution, indemnification or set off, that it may have at any time against any other Obligor, howsoever arising, to the Full Payment
of all Obligations.

 

Section 6.          CONDITIONS
PRECEDENT

 

6.1.           Conditions
Precedent to Initial Loans. In addition to the conditions set forth in Section 6.2, Lenders shall not be required
to fund any requested Standby Term Loan or otherwise extend credit to Borrowers hereunder, until the date (“Effective Date”)
that each of the following conditions has been satisfied:

 

(a)           Each
Loan Document shall have been duly executed and delivered to Agent by each of the signatories thereto, and each Obligor shall be in compliance
with all terms thereof.

 

(b)           Agent
shall have received acknowledgments of all filings, registrations or recordations necessary to perfect its Liens in the Collateral, as
well as UCC and Lien searches and other evidence satisfactory to Agent that such Liens are the only Liens upon the Collateral, except
Permitted Liens.

 

(c)           Agent
shall have received certificates, in form and substance satisfactory to it, from a knowledgeable Senior Officer of each Borrower certifying
that, after giving effect to the initial Loans and transactions hereunder, (i) the Company and its Subsidiaries, taken as a whole,
are Solvent; (ii) no Default or Event of Default exists; (iii) the representations and warranties set forth in Section 9
are true and correct; and (iv) such Borrower has complied with all agreements and conditions to be satisfied by it under the
Loan Documents.

 

(d)           Agent
shall have received a certificate of a duly authorized officer of each Obligor, certifying (i) that attached copies of such Obligor’s
Organic Documents are true and complete, and in full force and effect, without amendment except as shown; (ii) that an attached
copy of resolutions authorizing execution and delivery of the Loan Documents is true and complete, and that such resolutions are in full
force and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions adopted with respect
to this credit facility; and (iii) to the title, name and signature of each Person authorized to sign the Loan Documents. Agent
may conclusively rely on this certificate until it is otherwise notified by the applicable Obligor in writing.

 

(e)           Agent
shall have received a written opinion of Greenberg Traurig LLP, counsel to the Obligors, in form and substance satisfactory to Agent.

 

(f)           Agent
shall have received good standing certificates (or their equivalents) for each Obligor, issued by the Secretary of State or other appropriate
official of such Obligor’s jurisdiction of organization and each jurisdiction where such Obligor’s conduct of business or
ownership of Property necessitates qualification.

 

(g)           (If
available in the relevant jurisdiction) Agent shall have received copies of policies or certificates of insurance for the insurance policies
carried by Obligors, together with loss payable endorsements naming Agent as lenders loss payee and as additional insured, all in compliance
with the Loan Documents.

 

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(h)           Agent
shall have completed its business, financial and legal due diligence of Obligors. No material adverse change, in the good faith opinion
of Agent, in the business, assets, Properties, liabilities, operations, condition (financial or otherwise) of the Borrowers and the Guarantors,
taken as a whole, financial condition of any Obligor or in the quality, quantity or value of any Collateral has occurred since December,
2020.

 

(i)           Borrowers
shall have paid all fees and expenses to be paid to Agent and Lenders on the Effective Date.

 

(j)           Agent
and the Revolver Agent shall have entered into the Intercreditor Agreement.

 

(k)           [Reserved].

 

(l)           [Reserved].

 

(m)         Agent
shall have received (i) audited financial statements of the Company and its Subsidiaries for the fiscal year ended December 2020,
(ii) the internally prepared monthly divisional financial statements of the Company and its Subsidiaries for the months ended January 2021
through December, 2021, (iii) a pro forma balance sheet of the Company and its Subsidiaries dated as of the Effective Date after
giving pro forma effect to the transactions contemplated by this Agreement, the repayment in full of existing Debt and the funding of
the initial Standby Term Loans on the Effective Date and (iv) projections of the consolidated balance sheets, results of operations
and cash flow for the 2022 Fiscal Year on a Fiscal Month basis and for each other Fiscal Year ending prior to the Termination Date on
a Fiscal Year basis.

 

(n)           No
action, suit, investigation, litigation or proceeding shall be threatened or pending in any court or before any arbitrator or governmental
instrumentality that in Agent’s judgment could reasonably be expected to have a Material Adverse Effect.

 

(o)          Agent
shall have received satisfactory evidence that the Obligors have received all governmental and third party consents and approvals as
may be appropriate in connection with the Loans and the transactions contemplated by this Agreement.

 

(p)          The
First Amendment to the Third Amended and Restated Loan and Security Agreement shall be in form and substance satisfactory to Agent, shall
have been duly executed and delivered to Agent by each of the signatories thereto and each of the Obligors shall be in compliance with
all terms thereof.

 

(q)           KYC
Information.

 

(i)           Upon
the reasonable request of any Lender made at least ten (10) days prior to the Effective Date, Borrowers shall have provided to such
Lender, and such Lender shall be reasonably satisfied with, the documentation and other information so requested in connection with applicable
 “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act
and the Canadian Anti-Money Laundering & Anti-Terrorism Legislation, in each case at least five (5) days prior to the Effective
Date.

 

(ii)           At
least five (5) days prior to the Effective Date, any Borrower that qualifies as a “legal entity customer” under the
Beneficial Ownership Regulation shall deliver, to each Lender that so requests, a Beneficial Ownership Certification in relation to such
Borrower.

 

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6.2.           Conditions
Precedent to All Credit Extensions. Agent and Lenders shall not be required to fund any Standby Term Loans or grant any other
accommodation to or for the benefit of Borrowers, unless the following conditions are satisfied:

 

(a)           No
Default or Event of Default shall exist at the time of, or result from, such funding, issuance or grant;

 

(b)           No
Default or Event of Default under the First Lien Loan Documents shall exist at the time of, or result from, such funding, issuance or
grant;

 

(c)           The
representations and warranties of each Obligor in the Loan Documents shall be true and correct in all material respects (without duplication
or any materiality provisions therein) on the date of, and upon giving effect to, such funding, issuance or grant (except for representations
and warranties that expressly relate to an earlier date);

 

(d)           All
conditions precedent in any other Loan Document shall be satisfied; and

 

(e)           No
event shall have occurred or circumstance exist that has or could reasonably be expected to have a Material Adverse Effect.

 

Each request (or deemed request) by Borrowers
for funding of a Standby Term Loan or grant of an accommodation shall constitute a representation by Borrowers that the foregoing conditions
are satisfied on the date of such request and on the date of such funding, issuance or grant.

 

6.3.           Conditions
Subsequent. Agent and the Lenders have agreed to execute this Agreement and to make the Standby Term Loans on the Effective Date
notwithstanding the failure by the Obligors to satisfy the conditions set forth below on or before the Effective Date. In consideration
of such accommodation, the Borrowers agree that, in addition to all other terms, conditions and provisions set forth in this Agreement
and the other Loan Documents, the Obligors shall satisfy each of the conditions subsequent set forth below on or before the date applicable
thereto (to the extent that the existence of any such condition subsequent would otherwise cause any representation, warranty or covenant
in this Agreement or any other Loan Document to be breached, the Required Lenders hereby waive such breach for the period from the Effective
Date until the date on which such condition subsequent is required to be fulfilled pursuant to this Section 6.3):

 

(a)           Deposit
Account Control Agreements. On or prior to the date that is 30 days following the Effective Date (or such later date as determined
by Agent its sole discretion), the Loan Parties shall have used commercially reasonable efforts to obtain a Deposit Account Control Agreement
pursuant to Section 8.2.1 in form and substance reasonably satisfactory to Agent.

 

(b)           Insurance
Endorsements. On or prior to the date that is 60 days following the Effective Date (or such later date as determined by Agent its
sole discretion), the Loan Parties shall have provided Agent with the loss payable endorsements naming Agent as lenders loss payee.

 

Section 7.          COLLATERAL

 

7.1.           Grant
of Security Interest. To secure the prompt payment and performance of all Obligations, each Obligor hereby grants to Agent, for
the benefit of Secured Parties, a continuing security interest in and Lien upon all Property of such Obligor, including all of the following
Property, whether now owned or hereafter acquired, and wherever located:

 

(a)           all
Accounts;

 

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(b)          all
Chattel Paper, including all Tangible Chattel Paper and all Electronic Chattel Paper;

 

(c)          all
Commercial Tort Claims, including those shown on Schedule 9.1.16;

 

(d)          all
Deposit Accounts, Securities Accounts and Commodities Accounts (and all money, cash and Cash Equivalents, checks, other negotiable instruments,
funds, evidences of payment, Commodities Contracts, Security Entitlements, Securities and other assets (including Financial Assets) contained
in, or credited to, such Deposit Accounts, Securities Accounts and Commodities Accounts);

 

(e)           all
Documents (including, if applicable, electronic documents);

 

(f)           all
General Intangibles and Intangibles, including Intellectual Property, Payment Intangibles, intercompany Debt and customer lists;

 

(g)          all
Goods, including Inventory, Equipment and Fixtures;

 

(h)          all
Instruments, including Promissory Notes;

 

(i)           all
Investment Property (including all Securities and Equity Interests);

 

(j)           all
Letters of Credit (which, for purposes of this clause (j) only, shall have the meaning given to such term in the UCC) and Letter-of-Credit
Rights;

 

(k)           all
Supporting Obligations;

 

(l)           all
monies, cash and Cash Equivalents, whether or not in the possession or under the control of Agent, a Lender, or a bailee or Affiliate
of Agent or a Lender, including any Cash Collateral;

 

(m)         all
books and records (including databases, customer lists, files, correspondence, tapes, and other records, whether tangible or electronic,
computer programs, print-outs and computer records) pertaining to the foregoing clauses (a) through (l) above;
and

 

(n)          to
the extent not covered by clauses (a) through (m) above, (i) all other Property of such Obligor, whether
tangible or intangible and (ii) all Proceeds, Supporting Obligations and products of each of the foregoing and all accessions to,
substitutions and replacements for, and rents, profits and products of, each of the foregoing, any and all insurance claims, proceeds
of any insurance, indemnity, warranty or guaranty payable to such Obligor from time to time with respect to any of the foregoing and
any other contract rights or rights to the payment of money or tort claims.

 

In no event shall the grant of the security interest
in this Agreement or in any other Loan Document attach to, or the term “Collateral” be deemed to include, (a) any of
the outstanding Equity Interests in (x) an Immaterial Foreign Subsidiary or (y) a Foreign Subsidiary (i) in excess of
65% of the voting power of all classes of equity interests of such Foreign Subsidiary entitled to vote in the election of directors or
other similar body of such Foreign Subsidiary, unless and to the extent such security has been granted to the First Lien Agent on behalf
of the First Lien Lenders, or (ii) to the extent that the pledge thereof is prohibited by the laws of the jurisdiction of such foreign
subsidiary’s organization; (b) any equity interest in any Foreign Subsidiary that is not a first-tier subsidiary of a Borrower;
(c) any lease, license, contract, property rights or agreement to which Debtor is a party or any of such Debtor’s rights or
interests thereunder, if, and for so long as and to the extent that, the grant of the security interest would constitute or result in
(i) the abandonment, invalidation or unenforceability of any material right, title or interest of such Debtor therein or (ii) a
breach or termination pursuant to the terms of, or a default under, any such lease, license, contract, property rights or agreement (other
than to the extent that any such breach, termination or default would be rendered ineffective pursuant to Section 9-406, 9-407,
9-408 or 9-409 of the Uniform Commercial Code of the applicable jurisdiction (or any successor provision or provisions), any other applicable
law or principles of equity), provided, however, that the security interest (x) shall attach immediately when the
condition causing such abandonment, invalidation or unenforceability is remedied, (y) shall attach immediately to any severable
term of such lease, license, contract, property rights or agreement to the extent that such attachment does not result in any of the
consequences specified in (i) or (ii) above and (z) shall attach immediately to any such lease, license, contract, property
rights or agreement to which the account debtor or such Obligor’s counterparty has consented to such attachment; (d) any equity
interest acquired after the date hereof that is an equity interest in an entity other than a subsidiary of an Obligor, if the terms of
the organizational documents of the issuer of such equity interests do not permit the grant of the security interest in such equity interests
by the owner thereof or Obligor; (e) any application to register any trademark or service mark prior to the filing under applicable
law of a verified statement of use (or the equivalent) for such trademark or service mark to the extent the creation of a security interest
therein or the grant of a mortgage thereon would void or invalidate such trademark or service mark; and (f) except as may be mutually
agreed by the Borrowers and Agent, any fee-owned Real Estate or leasehold interests in Real Estate (other than, for the avoidance of
doubt, Fixtures) (collectively, the “Excluded Property”); provided, however, that any Collateral (or
any portion thereof) that ceases to satisfy the criteria for Excluded Property (whether as a result of an Obligor obtaining any necessary
consent, any change in any rule of law, statute or regulation or otherwise) shall no longer be Excluded Property and the security
interest shall attach immediately to such Collateral (or portion thereof) at such time. Anything to the contrary contained in this Agreement
notwithstanding, the CARES Account (and cash proceeds of the CARES Debt held in the CARES Account) shall constitute Excluded Property.

 

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7.2.           Lien
on Deposit Accounts; Cash Collateral.

 

7.2.1.      Deposit
Accounts. To further secure the prompt payment and performance of all Obligations, each Obligor hereby grants to Agent a continuing
security interest in and Lien upon all amounts credited to any Deposit Account of such Obligor, including any sums in any lockbox or
Dominion Account. Anything to the contrary contained in this Agreement notwithstanding, the Agent shall not have a Lien on the CARES
Account (or any cash proceeds of the CARES Debt held in the CARES Account).

 

7.2.2.      Cash
Collateral. Cash Collateral may be invested, at Agent’s discretion (and with the consent of Borrower Agent, as long as no Event
of Default exists), but Agent shall have no duty to do so, regardless of any agreement or course of dealing with any Obligor, and shall
have no responsibility for any investment or loss. Each Obligor hereby grants to Agent, as security for the Obligations, a security interest
in all Cash Collateral held from time to time and all proceeds thereof, whether held in a Cash Collateral Account or otherwise. Agent
may apply Cash Collateral to the payment of Obligations as they become due, in such order as Agent may elect. Each Cash Collateral Account
and all Cash Collateral shall be under the sole dominion and control of Agent, and no Obligor or other Person shall have any right to
any Cash Collateral, until Full Payment of all Obligations.

 

7.3.          [Reserved].

 

7.4.           Other
Collateral.

 

7.4.1.      Commercial
Tort Claims. Obligors shall promptly notify Agent in writing if any Obligor has a Commercial Tort Claim (other than, as long as no
Default or Event of Default exists, a Commercial Tort Claim for less than $120,000), shall promptly amend Schedule 9.1.16 to include
such claim, and shall take such actions as Agent deems appropriate to subject such claim to a duly perfected, first priority Lien in
favor of Agent (subject to the Liens of the First Lien Agent to the extent provided in the Intercreditor Agreement).

 

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7.4.2.      Certain
After-Acquired Collateral. Obligors shall promptly notify Agent in writing if, after the Effective Date, any Obligor obtains any
interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment
Property or Letter-of-Credit Rights and, upon Agent’s request, shall (subject to the terms of this Agreement and the Intercreditor
Agreement) promptly take such actions as Agent deems appropriate to effect Agent’s duly perfected, first priority Lien (subject
to Permitted Liens) upon such Collateral, including obtaining any appropriate possession, control agreement or lien waiver. If any Collateral
is in the possession of a third party, at Agent’s request and after the occurrence and during the continuation of an Event of Default,
Obligors shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Agent.

 

7.5.           No
Assumption of Liability. The Lien on Collateral granted hereunder is given as security only and shall not subject Agent or any
Lender to, or in any way modify, any obligation or liability of Obligors relating to any Collateral. In no event shall the grant of any
Lien under any Loan Document secure an Excluded Swap Obligation of the granting Obligor.

 

7.6.           Further
Assurances. All Liens granted to Agent under the Loan Documents are for the benefit of Secured Parties. Promptly upon reasonable
request, Obligors shall deliver such instruments and agreements, and shall take such actions, as Agent reasonably deems necessary and
appropriate under Applicable Law to evidence or perfect its Lien on any Collateral, or otherwise to give effect to the intent of this
Agreement, but in all cases, subject to the terms of the Intercreditor Agreement. Each Obligor authorizes Agent to file any financing
statement that describes the Collateral as “all assets” or “all personal property” of such Obligor, or words
to similar effect, and ratifies any action taken by Agent before the Effective Date to effect or perfect its Lien on any Collateral.

 

Section 8.          COLLATERAL
ADMINISTRATION

 

8.1.           [Reserved].

 

8.2.           Administration
of Accounts.

 

8.2.1.      Maintenance
of Dominion Accounts. Obligors shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to Agent. On
or prior to the Effective Date, Obligors shall have entered into agreements (in form and substance reasonably satisfactory to Agent)
with Bank of America, N.A., in its capacity as lockbox servicer and Dominion Account bank, establishing Agent’s Lien on and dominion
and control over all lockboxes and Dominion Accounts and which provide, that subject to the Intercreditor Agreement, Agent may exercise
dominion and control at any time during a Cash Dominion Period and that during a Cash Dominion Period all remittances received in a lockbox
be immediately deposited to a Dominion Account. Agent and Lenders assume no responsibility to Obligors for any lockbox arrangement or
Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank.

 

8.2.2.      Proceeds
of Collateral. Borrowers shall request in writing and otherwise take all necessary steps to ensure that at all times from and after
the Effective Date, all payments on Accounts or otherwise relating to Collateral are made directly to a Dominion Account (or a lockbox
relating to a Dominion Account). If any Obligor or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall
hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account (or a lockbox which
is swept into a Dominion Account).

 

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8.3.           Administration
of Inventory.

 

8.3.1       Records and Reports of Inventory.
Each Obligor shall keep accurate and complete records of its Inventory, including costs and daily withdrawals and additions, and, prior
to the 15th day after the end of each month, shall submit to Agent inventory and reconciliation reports for the most recently ended Fiscal
Month in form satisfactory to Agent. Each Obligor shall conduct a physical inventory at least once per calendar year (and on a more frequent
basis if requested by Agent when an Event of Default exists) and periodic cycle counts consistent with historical practices, and shall
provide to Agent a report based on each such inventory and count promptly upon completion thereof, together with such supporting information
as Agent may request. Agent may participate in and observe each physical count.

 

 8.3.2      Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default, Revolver Overadvance (as defined in the First Lien Loan Agreement) or FILO Overadvance (as defined in the First Lien Loan Agreement) exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $450,000; and (d) any payment received by an Obligor for a return is promptly remitted to Agent for application to the Obligations.

 

 8.3.3       Acquisition, Sale and Maintenance. No Obligor shall acquire or accept any Inventory on consignment or approval, and shall take all steps to assure that all Inventory is produced in accordance with Applicable Law, including the FLSA. No Obligor shall sell any Inventory on consignment or approval or any other basis under which the customer may return or require an Obligor to repurchase such Inventory. Obligors shall use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable standards of any insurance and in conformity with all Applicable Law, and shall make current rent payments (within applicable grace periods provided for in leases) at all locations where any Collateral is located.

 

8.4.           Administration
of Equipment.

 

8.4.1.      Records
and Schedules of Equipment. Each Obligor shall keep accurate and complete records of its Equipment, including kind, quality, quantity,
cost, acquisitions and dispositions thereof, and shall submit to Agent, on such periodic basis as Agent may request, a current schedule
thereof, in form satisfactory to Agent. Promptly upon request, Obligors shall deliver to Agent evidence of their ownership or interests
in any Equipment.

 

8.4.2.      Dispositions
of Equipment. No Obligor shall sell, lease or otherwise dispose of any Equipment, without the prior written consent of Agent, other
than (a) a Permitted Asset Disposition; and (b) replacement of Equipment that is worn, damaged or obsolete with Equipment of
like function and value, if the replacement Equipment is acquired substantially contemporaneously with such disposition and is free of
Liens (other than Permitted Liens).

 

8.4.3 Condition of Equipment.
The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value
and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Obligor shall ensure that
the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance
with manufacturer specifications. No Obligor shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee
delivers a lien waiver.

 

8.5.           Administration
of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Obligors, including all Dominion Accounts.
Each Obligor shall take all actions necessary to establish Agent’s control over each such Dominion Account (other than Excluded
Deposit Accounts) by entering into a Deposit Account Control Agreement, provided that, upon the request of the Agent after the occurrence
of (x) an Event of Default or (y) the total amount of the Obligor’s cash held in Deposit Accounts that are not Dominion
Accounts shall exceed 10% of the total amount of Obligors’ cash on hand, the Obligors shall, within sixty (60) days from the date
of such request, enter into any required Deposit Account Control Agreements with respect to any Deposit Account (other than Excluded
Deposit Accounts) that is not a Dominion Account. Each Obligor shall be the sole account holder of each Deposit Account and shall not
allow any Person (other than Agent or First Lien Agent) to have control over a Deposit Account or any Property deposited therein. Each
Obligor shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule
8.5 to reflect same.

 

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8.6 General Provisions.

 

8.5.1.      Location
of Collateral. All tangible items of Collateral, other than Inventory in transit, shall at all times be kept by Obligors at the business
locations set forth in Schedule 8.6.1, except that Obligors may (a) make sales or other dispositions of Collateral in accordance
with Section 10.2.6; and (b) move Collateral to another location in the United States or Canada, as applicable, upon
30 Business Days prior written notice to Agent.

 

8.5.2.      Insurance
of Collateral; Condemnation Proceeds.

 

(a)          Each
Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other
risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating of at least A_, unless
otherwise approved by Agent) satisfactory to Agent. All proceeds under each policy shall be payable to Agent. From time to time upon
request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches.
Unless Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Agent as lenders loss payee;
(ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying
that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor
by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay
for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors therefor. Each Obligor
agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists,
Obligors may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default
exists, only Agent shall be authorized to settle, adjust and compromise such claims.

 

(b)          Any
proceeds of insurance (other than proceeds from workers’ compensation or D&O insurance) and any awards arising from condemnation
or expropriation of any Collateral shall be paid to First Lien Agent or Agent in accordance with the Intercreditor Agreement.

 

8.5.3.      Protection
of Collateral. All expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral and
Taxes payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by Agent to any
Person to realize upon any Collateral, shall be borne and paid by Obligors. Agent shall not be liable or responsible in any way for the
safekeeping of any Collateral, for any loss or damage thereto (except for reasonable care in its custody while Collateral is in Agent’s
actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency
or other Person whatsoever, but the same shall be at Obligors’ sole risk.

 

8.5.4.      Defense
of Title. Each Obligor shall defend its title to Collateral and Agent’s Liens therein against all Persons, claims and demands,
except Permitted Liens.

 

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8.6.           Power
of Attorney. Each Obligor hereby irrevocably constitutes and appoints Agent (and all Persons designated by Agent) as such Obligor’s
true and lawful attorney (and agent-in-fact) for the purposes provided in this Section. Agent, or Agent’s designee, may, without
notice and in either its or an Obligor’s name, but at the cost and expense of Obligors:

 

(a)          Endorse
an Obligor’s name on any Payment Item remitted to or deposited in any lockbox or Dominion Account; and

 

(b)          During
an Event of Default, (i) notify any Account Debtors of the assignment of their Accounts, demand and enforce payment of Accounts
by legal proceedings or otherwise, and generally exercise any rights and remedies with respect to Accounts; (ii) settle, adjust,
modify, compromise, discharge or release any Collateral, or any legal proceedings brought to collect Accounts or Collateral; (iii) sell
or assign any Accounts or other Collateral upon such terms, for such amounts and at such times as Agent deems advisable; (iv) collect,
liquidate and receive balances in Deposit Accounts or investment accounts, and take control, in any manner, of proceeds of Collateral;
(v) prepare, file and sign an Obligor’s name to a proof of claim or other document in a bankruptcy of an Account Debtor, or
to any notice, assignment or satisfaction of Lien or similar document; (vi) receive, open and dispose of mail addressed to an Obligor,
and notify postal authorities to deliver any such mail to an address designated by Agent; (vii) endorse any Chattel Paper, Document, Instrument,
bill of lading, or other document or agreement relating to any Accounts, Inventory or other Collateral; (viii) use an Obligor’s
stationery and sign its name to verifications of Accounts and notices to Account Debtors; (ix) use information contained in any
data processing, electronic or information systems relating to Collateral; (x) make and adjust claims under insurance policies;
(xi) take any action as may be necessary or appropriate to obtain payment under any letter of credit, banker’s acceptance
or other instrument for which an Obligor is a beneficiary; and (xii) take all other actions as Agent deems appropriate to fulfill
any Borrower’s obligations under the Loan Documents.

 

Section 9.          REPRESENTATIONS
AND WARRANTIES

 

9.1.           General
Representations and Warranties. To induce Agent and Lenders to enter into this Agreement and to make available the Standby Term
Loan Commitments and Standby Term Loans, each Obligor represents and warrants that:

 

9.1.1.      Organization
and Qualification. Each Obligor and Subsidiary (other than any Immaterial Foreign Subsidiary) is duly organized or incorporated,
validly existing and in good standing under the laws of the jurisdiction of its organization or formation. Each Obligor and Subsidiary
is duly qualified, authorized to do business and in good standing as a foreign corporation in each jurisdiction where failure to be so
qualified could reasonably be expected to have a Material Adverse Effect. No Obligor is a Covered Entity.

 

9.1.2.      Power
and Authority. Each Obligor is duly authorized to execute, deliver and perform its obligations under the Loan Documents. The execution,
delivery and performance of the Loan Documents have been duly authorized by all necessary action, and do not (a) require any consent
or approval of any holders of Equity Interests of any Obligor, except those already obtained; (b) contravene the Organic Documents
of any Obligor; (c) violate or cause a default under any Applicable Law or Material Contract; or (d) result in or require the
imposition of any Lien (other than Permitted Liens) on any Obligor’s Property.

 

9.1.3.      Enforceability.
Each Loan Document is a legal, valid and binding obligation of each Obligor party thereto, enforceable in accordance with its terms,
except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights
generally.

 

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9.1.4.      Capital
Structure. Schedule 9.1.4 shows (a) for each Obligor and Subsidiary, its name, jurisdiction of organization or formation
and any agreement binding on the holders of its Equity Interests with respect to such Equity Interests, and (b) for each Subsidiary
of the Company, its authorized and issued Equity Interests and the names of the holders of its Equity Interests. Except as disclosed
on Schedule 9.1.4, in the five years preceding the Effective Date, no Obligor or Subsidiary has acquired any substantial assets
from any other Person nor been the surviving entity in a merger, amalgamation or combination. Each Obligor has good title to its Equity
Interests in its Subsidiaries, subject only to Permitted Liens and all such Equity Interests are duly issued, fully paid and non-assessable.
Except for the Equity Interests issued under the Company’s 2006 Performance Equity Plan, the Company’s 2012 Incentive Compensation
Plan, and inducement grants to new employees approved by the Compensation Committee of the Company’s Board of Directors, there
are no outstanding purchase options, warrants, subscription rights, agreements to issue or sell, convertible interests, phantom rights
or powers of attorney relating to Equity Interests of any Obligor or Subsidiary.

 

9.1.5.      Title
to Properties; Priority of Liens. Each Obligor and Subsidiary has good and marketable title to (or valid leasehold interests in)
all of its Real Estate, and good title to all of its personal Property, including all Property reflected in any financial statements
delivered to Agent or Lenders, in each case free of Liens except Permitted Liens. Except as otherwise indicated on Schedule 9.1.5,
each Obligor and Subsidiary has paid and discharged all lawful claims that, if unpaid, could become a Lien on its Properties, other than
Permitted Liens. The provisions of the Security Documents, together with such filings and other actions required to be taken hereby or
by the applicable Security Documents are effective to create in favor of the Agent, for the benefit of the Secured Parties referred to
therein, a legal, valid and enforceable security interest in and first priority Lien (except for those Permitted Liens that have priority
in such Collateral by operation of law and except as to the Liens of the First Lien Agent to the extent provided in the Intercreditor
Agreement) on all right title and interest of the respective Obligors in the Collateral described therein, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law, except (a) as otherwise contemplated hereby or under
any other Loan Documents, and (b) except as to specific items of Collateral as to which Agent may determine, in consultation with
the Borrower Agent, not to perfect its security interest therein based on the value thereof relative to the costs of such perfection.

 

9.1.6.      [Reserved].

 

9.1.7.      Financial
Statements. The consolidated and consolidating balance sheets, and related statements of income, cash flow and shareholder’s
equity, of Company and Subsidiaries that have been and are hereafter delivered to Agent and Lenders, are prepared in accordance with
GAAP, or in the case of the Canadian Subsidiary, GAAP as in effect in Canada, as and to the extent applicable (in either case, except
as otherwise noted therein and, in the case of unaudited financial statements, subject to the absence of footnotes and normal year-end
adjustments), and fairly present the financial positions and results of operations of Company and Subsidiaries at the dates and for the
periods indicated. All projections delivered from time to time to Agent and Lenders have been prepared in good faith, based on reasonable
assumptions in light of the circumstances at such time provided, that, with respect to projected financial information, it being understood
and agreed that (a) any financial or business projections furnished by the Borrowers are subject to significant uncertainties and
contingencies, which may be beyond the control of the Borrowers, (b) no assurance is given by the Borrowers that the results of
such projections will be realized and (c) the actual results may differ from the results of such projections and such differences
may be material. Except as otherwise disclosed by the Company in its filings with the Securities and Exchange Commission, or any similar
applicable Governmental Authority in any other applicable jurisdiction, since December, 2020, there has been no change in the business,
assets, Properties, liabilities, operations or financial condition of the Obligors, taken as a whole, that could reasonably be expected
to have a Material Adverse Effect. No financial statement delivered to Agent or Lenders at any time contains any untrue statement of
a material fact, nor fails to disclose any material fact necessary to make such statement not materially misleading. The Obligors, taken
as a whole, are Solvent.

 

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9.1.8.      Surety
Obligations. Except as disclosed on Schedule 9.1.8, no Obligor or Subsidiary is obligated as surety or indemnitor under any
bond or other Material Contract that assures payment or performance of any obligation of any Person, except as permitted hereunder.

 

9.1.9.      Taxes.
Each Obligor and Subsidiary (other than any Immaterial Foreign Subsidiary) has filed all federal, state, provincial, territorial, and
other material tax returns and other reports that it is required by law to file, and has paid, or made provision for the payment of,
all material Taxes upon it, its income and its Properties that are due and payable, except to the extent being Properly Contested. The
provision for Taxes on the books of each Obligor and Subsidiary is adequate for all years not closed by applicable statutes, and for
its current Fiscal Year.

 

9.1.10.    Brokers.
Except as disclosed on Schedule 9.1.10, there are no brokerage commissions, finder’s fees or investment banking fees payable
in connection with any transactions contemplated by the Loan Documents.

 

9.1.11.    Intellectual
Property. Each Obligor and Subsidiary owns or has the lawful right to use all Intellectual Property, licenses, permits and other
authorizations reasonably necessary for the conduct of its business as currently conducted, and does not infringe upon misuse, misappropriate
or violate any rights held by any other Person except for such infringements, misuses, misappropriations or violations that would not,
individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. Except as disclosed on Schedule 9.1.11,
there is no pending or, to any Obligor’s or Subsidiary’s knowledge, threatened Intellectual Property Claim with respect to
any Obligor, any Subsidiary or any of their Property (including any Intellectual Property) that, if adversely determined, could reasonably
be expected to have a Material Adverse Effect. Except as disclosed on Schedule 9.1.11, no Obligor or Subsidiary pays or owes any
Royalty or other compensation to any Person with respect to any Intellectual Property. All Intellectual Property owned, licensed by,
or otherwise subject to any interests of, any Obligor or Subsidiary is shown on Schedule 9.1.11.

 

9.1.12.    Governmental
Approvals. Each Obligor and Subsidiary has, is in compliance with, and is in good standing with respect to, all Governmental Approvals
necessary to conduct its business and to own, lease and operate its Properties, except where noncompliance could not reasonably be expected
to have a Material Adverse Effect. All necessary import, export or other licenses, permits or certificates for the import or handling
of any goods or other Collateral have been procured and are in effect, and Obligors and Subsidiaries have complied with all foreign and
domestic laws with respect to the shipment and importation of any goods or Collateral, except where noncompliance could not reasonably
be expected to have a Material Adverse Effect.

 

9.1.13.    Compliance
with Laws.(a) Each Obligor and Subsidiary has duly complied, and its Properties and business operations
are in compliance, in all material respects with all Applicable Law, except where noncompliance could not reasonably be expected to have
a Material Adverse Effect. There have been (i) no citations, notices of noncompliance or requests for information issued to any
Obligor by the CPSC within the immediately preceding three years other than those described on Schedule 9.1.13, and (ii) no notices
or orders of material noncompliance issued to any Obligor by any other Governmental Authority under any Applicable Law. To
the best knowledge of the Obligors, no Inventory has been produced by Obligors in violation of the FLSA or in violation of any CPSC Regulations. 
The Obligors have current and effective certificates of compliance for each children's product and each children's toy that the Obligors
sell, manufacture or distribute.  The Obligors conduct current testing of all children's products and children's toys that
the Obligors sell, manufacture or distribute in accordance with Applicable Law.  Except as described on Schedule 9.1.13,
there are no pending or, to the knowledge of the Obligors, threatened (in writing), recalls, or regulatory actions or investigations
by the CPSC with respect to the Obligors or any of the products or toys that the Obligors sell, manufacture or distribute.  To the
best knowledge of the Obligors, none of the products or toys that the Obligors sell, manufacture or distribute contains a defect that
could create a substantial product hazard or could create an unreasonable risk of serious injury or death.  The Obligors have complied
in a timely manner with all reporting requirements under the CPSC Regulations.  To the best knowledge of the Obligors, the Obligors
have not materially misrepresented in any report filed by the Obligors with the CPSC, the scope of the hazards posed by any toys
or products that the Obligors sell, manufacture or distribute or the numbers of incidents or injuries that have been caused by or
that have been alleged to have been caused by such toys and products.

 

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(b)          Without
limiting the foregoing, no Obligor or, to the knowledge of the Borrowers, any of their respective Affiliates (i) is in violation
of any Anti-Terrorism Law, (ii) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of
evading or avoiding, any of the prohibitions set forth in any Anti-Terrorism Law, or (iii) is a Blocked Person. No Obligor or, to
the knowledge of the Borrowers, any of their respective Affiliates (x) conducts any business or engages in making or receiving any
contribution of funds, goods or services to or for the benefit of any Blocked Person, or (y) deals in, or otherwise engages in any
transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive
order or other Anti- Terrorism Law.

 

(c)           No
Obligor or, to the knowledge of the Borrowers, any of their respective Affiliates or any officer, director, or employee, or agent, representative,
sales intermediary of such Person, in each case, acting on behalf of any Obligor or any of its Restricted Subsidiaries in violation of
any applicable Anti-Corruption Law. None of the Obligors or any of their Affiliates has been convicted of violating any Anti-Corruption
Laws or subjected to any investigation by a Governmental Authority for violation of any applicable Anti-Corruption Laws. There is no
material suit, litigation, arbitration, claim, audit, action, proceeding or investigation pending or, to the knowledge of any executive
officer of the Borrowers, threatened (in writing) against or affecting the Obligors or any of their Affiliates related to any applicable
Anti-Corruption Law, before or by any Governmental Authority. None of the Obligors has conducted or initiated any internal investigation
or made a voluntary, directed, or involuntary disclosure to any Governmental Authority with respect to any alleged act or omission arising
under or relating to any noncompliance with any Anti-Corruption Law. In the three (3) years prior to the Effective Date, none of
the Obligors has received any written notice, request or citation for any actual or potential noncompliance with any of the foregoing.

 

9.1.14.    Compliance
with Environmental Laws. Except with respect to any matters that, either individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect and disclosed on Schedule 9.1.14, no Obligor’s or Subsidiary’s past
or present operations, Real Estate or other Properties are subject to any federal, state, provincial, municipal or local investigation
to determine whether any remedial action is needed to address any environmental pollution, hazardous material or environmental clean-up.
No Obligor or Subsidiary has received any Environmental Notice. No Obligor or Subsidiary has any contingent liability with respect to
any Environmental Release, environmental pollution or hazardous material on any Real Estate now or previously owned, leased or operated
by it, except where such liability could not reasonably be expected to result in a Material Adverse Effect.

 

9.1.15.    Burdensome
Contracts. No Obligor or Subsidiary is party or subject to any Restrictive Agreement, except (i) the First Lien Loan Documents
(as the same may be amended from time to time in compliance with the Intercreditor Agreement) and (ii) as shown on Schedule 9.1.15.
No such Restrictive Agreement prohibits the execution, delivery or performance of any Loan Document by an Obligor.

 

9.1.16.    Litigation.
Except as shown on Schedule 9.1.16, there are no proceedings or investigations pending or, to any Obligor’s knowledge, threatened
in writing against any Obligor or Subsidiary, or any of their businesses, operations, Properties, prospects or conditions, that (a) relate
to any Loan Documents or transactions contemplated thereby; or (b) could reasonably be expected to have a Material Adverse Effect
if determined adversely to any Obligor or Subsidiary. Except as shown on such Schedule, no Obligor has a Commercial Tort Claim (other
than, as long as no Default or Event of Default exists, a Commercial Tort Claim for less than $120,000). No Obligor or Subsidiary is
in default with respect to any order, injunction or judgment of any Governmental Authority.

 

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9.1.17.     No
Defaults. No event or circumstance has occurred or exists that constitutes a Default or Event of Default. No Obligor or Subsidiary
is in default, and, to the knowledge of the Obligors and each of their Subsidiaries, no event or circumstance has occurred or exists
that with the passage of time or giving of notice would constitute a material default, under any Material Contract or in the payment
of any Borrowed Money in excess of $600,000. To the best knowledge of the Obligors, there is no basis upon which any party (other than
an Obligor or Subsidiary) could terminate a Material Contract prior to its scheduled termination date.

 

9.1.18.    ERISA.
Except as disclosed on Schedule 9.1.18:

 

(a)           Each
Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code, and other federal and state laws. Each
Plan that is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS
or an application for such a letter is currently being processed by the IRS with respect thereto and, to the knowledge of Borrowers,
nothing has occurred which would prevent, or cause the loss of, such qualification. Each Obligor and ERISA Affiliate has met all applicable
requirements under the Code, ERISA and the Pension Protection Act of 2006, and no application for a waiver of the minimum funding standards
or an extension of any amortization period has been made with respect to any Plan.

 

(b)          There
are no pending or, to the knowledge of Borrowers, threatened claims, actions or lawsuits, or action by any Governmental Authority, with
respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or
violation of the fiduciary responsibility rules with respect to any Plan that has resulted in or could reasonably be expected to
have a Material Adverse Effect. No Borrower is or will be using "plan assets" (within the meaning of ERISA Section 3(42)
or otherwise) of one or more Benefit Plans with respect to its entrance into, participation in, administration of and performance of
the Standby Term Loans, Standby Term Loan Commitments or Loan Documents.

 

(c)          (i) No
ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii) no
Obligor or ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension
Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) no Obligor or ERISA Affiliate has incurred,
or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of
ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with respect to a Multiemployer Plan; (v) no Obligor
or ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or 4212(c) of ERISA; and (vi) as
of the most recent valuation date for any Pension Plan or Multiemployer Plan, the funding target attainment percentage (as defined in
Section 430(d)(2) of the Code) is at least 60%, and no Obligor or ERISA Affiliate knows of any fact or circumstance that could
reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of such date. No Obligor
or ERISA Affiliate has incurred any liability to the PBGC except for the payment of premiums, and no premium payments are due and unpaid.
No Obligor or ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or 4212(c) of ERISA. No Pension
Plan has been terminated by its plan administrator or the PBGC, and no fact or circumstance exists that could reasonably be expected
to cause the PBGC to institute proceedings to terminate a Pension Plan.

 

(d)          With
respect to any Foreign Plan, (i) all employer and employee contributions required by law or by the terms of the Foreign Plan have
been made, or, if applicable, accrued, in accordance with normal accounting practices; (ii) the fair market value of the assets
of each funded Foreign Plan, the liability of each insurer for any Foreign Plan funded through insurance, or the book reserve established
for any Foreign Plan, together with any accrued contributions, is sufficient to procure or provide for the accrued benefit obligations
with respect to all current and former participants in such Foreign Plan according to the actuarial assumptions and valuations most recently
used to account for such obligations in accordance with applicable generally accepted accounting principles; and (iii) it has been
registered as required and has been maintained in good standing with applicable regulatory authorities.

 

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9.1.19.    Trade
Relations. Except as set forth on the Company’s filings with the Securities and Exchange Commission, there exists no actual
or threatened (in writing) termination, limitation or modification of any business relationship between any Obligor or Subsidiary and
any customer or supplier, or any group of customers or suppliers, who individually or in the aggregate are material to the business of
such Obligor or Subsidiary. There exists no condition or circumstance that could reasonably be expected to materially impair the ability
of any Obligor or Subsidiary to conduct its business at any time hereafter in substantially the same manner as conducted on the Effective
Date.

 

9.1.20.    Labor
Relations. Except as described on Schedule 9.1.20, no Obligor or Subsidiary is party to or bound by any collective bargaining
agreement, management agreement or consulting agreement (other than design services consulting agreements and other consulting agreements
that have been disclosed to Agent). Except as would not, either individually or in the aggregate, reasonably be expected to result in
a Material Adverse Effect, there are no material grievances, disputes or controversies with any union or other organization of any Obligor’s
or Subsidiary’s employees, or, to any Obligor’s knowledge, any asserted or threatened strikes, work stoppages or demands
for collective bargaining.

 

9.1.21.    Payable
Practices. No Obligor or Subsidiary has made any material change in its historical accounts payable practices from those in effect
on the Effective Date.

 

9.1.22.    Not
a Regulated Entity. No Obligor is (a) an “investment company” or a “person directly or indirectly controlled
by or acting on behalf of an investment company” within the meaning of the Investment Company Act of 1940; or (b) subject
to regulation under the Federal Power Act, the Interstate Commerce Act, any public utilities code or any other Applicable Law regarding
its authority to incur Debt.

 

9.1.23.    Margin
Stock. No Obligor or Subsidiary is engaged, principally or as one of its important activities, in the business of extending credit
for the purpose of purchasing or carrying any Margin Stock. No Loan proceeds will be used by Obligors to purchase or carry, or to reduce
or refinance any Debt incurred to purchase or carry, any Margin Stock or for any related purpose governed by Regulations T, U or X of
the Board of Governors.

 

9.1.24.    OFAC.
None of (i) Borrower, Subsidiary or any director, officer, or employee, or (ii) to the knowledge of the Borrower, any agent,
affiliate or representative thereof, is or is owned or controlled by any individual or entity that is currently the subject or target
of any Sanction or is located, organized or resident in a Designated Jurisdiction.

 

9.1.25.    Beneficial
Ownership Certification. As of the Effective Date, the information included in the Beneficial Ownership Certification, if applicable,
is true and correct in all respects.

 

9.1.26.    Centre
of Main Interests and Establishments. For the purposes of regulation (EU) 2015/848 of 20 May 2015 on insolvency proceedings
(recast) (the “Regulation”), each of the UK Subsidiaries’ centre of main interest (as that term is used in Article 3(l) of
the Regulation) is situated in its jurisdiction of incorporation and none of them have an “establishment” (as that term is
used in Article 2(10) of the Regulation) in any other jurisdiction.

 

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9.1.27.    [Reserved].

 

9.1.28.    CARES
Debt. All applications, documents and other information submitted to any Governmental Authority with respect to the CARES Debt shall
be true and correct. No Lender or any of its Affiliates is deemed an “affiliate” of any Obligor or any of its Subsidiaries
for any purpose related to the CARES Debt, including the eligibility criteria with respect thereto. Each Obligor acknowledges and agrees
that (a) it has consulted its own legal and financial advisors with respect to all matters related to CARES Debt (including eligibility
criteria) and the CARES Act – Title I, (b) it is responsible for making its own independent judgment with respect to CARES
Debt and the process leading thereto, and (c) it has not relied on Agent, any Lender or any of their respective Affiliates with
respect to any of such matters.

 

9.2.          Complete
Disclosure. No Loan Document contains any untrue statement of a material fact, nor fails to disclose any material fact necessary
to make the statements contained therein, in light of the circumstances in which they are made, not materially misleading. There is no
fact or circumstance that any Obligor has failed to disclose to Agent in writing that could reasonably be expected to have a Material
Adverse Effect.

 

Section 10.       COVENANTS
AND CONTINUING AGREEMENTS

 

10.1.         Affirmative
Covenants. As long as any Standby Term Loan Commitments or Obligations are outstanding, each Obligor shall, and shall cause each
Subsidiary to:

 

10.1.1.    Inspections.

 

(a)           Permit
Agent from time to time, subject (except when an Event of Default exists) to reasonable notice and normal business hours, to visit and
inspect the Properties of any Obligor or Subsidiary, inspect, audit and make extracts from any Obligor’s or Subsidiary’s
books and records, and discuss with its officers, employees, agents, advisors and independent accountants such Obligor’s or Subsidiary’s
business, financial condition, assets, prospects and results of operations. Lenders may participate in any such visit or inspection,
at their own expense. Neither Agent nor any Lender shall have any duty to any Obligor to make any inspection, nor to share any results
of any inspection, appraisal or report with any Obligor. Obligors acknowledge that all inspections, appraisals and reports are prepared
by Agent and Lenders for their purposes, and Obligors shall not be entitled to rely upon them. This Section 10.1.1(a) shall
not apply to Immaterial Foreign Subsidiaries unless an Event of Default has occurred and is continuing.

 

(b)          Reimburse
Agent for all reasonable charges, costs and expenses of Agent in connection with examinations of any Obligor’s books and records
or any other financial or Collateral matters as Agent deems appropriate, once per Loan Year; and if an examination is initiated during
an Event of Default, all charges, costs and expenses therefor shall be reimbursed by Borrowers without regard to any such limits. Obligors
agree to pay Agent’s then standard charges for examination activities, including the standard charges of Agent’s internal
examination, as well as the reasonable and documented charges of any third party used for such purposes.

 

10.1.2.    Financial
and Other Information. Keep adequate records and books of account with respect to its business activities, in which proper entries
are made in accordance with GAAP reflecting all financial transactions; and furnish to Agent and Lenders:

 

(a)          as
soon as available, and in any event within 90 days after the close of each Fiscal Year, balance sheets as of the end of such Fiscal Year
and the related statements of income, cash flow and shareholders’ equity for such Fiscal Year, on consolidated and consolidating
bases for Obligors and Subsidiaries, which consolidated statements shall be audited and certified (without qualification except to the
extent any qualification results solely from a current maturity of any Indebtedness) by a firm of independent certified public accountants
of recognized standing selected by Borrowers and reasonably acceptable to Agent, it being agreed that RSM US, LLP is acceptable to Agent,
and shall set forth in comparative form corresponding figures for the preceding Fiscal Year and other information reasonably acceptable
to Agent;

 

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(b)            as
soon as available, and in any event within 45 days after the end of each Fiscal Quarter ending thereafter, unaudited balance sheets as
of the end of such quarter and the related statements of income and cash flow for such Fiscal Quarter and for the portion of the Fiscal
Year then elapsed, on consolidated and, to the extent applicable, consolidating bases for Obligors and Subsidiaries, setting forth in
comparative form corresponding figures for the preceding Fiscal Year and certified by a Senior Officer of Obligors as prepared in accordance
with GAAP and fairly presenting in all material respects the financial position and results of operations for such Fiscal Quarter and
period, subject to normal year-end adjustments and the absence of footnotes;

 

(c)            as
soon as available, and in any event within 30 days after the end of each month, unaudited balance sheets as of the end of the most recent
Fiscal Month and the related statements of income and cash flow for such Fiscal Month and for the portion of the Fiscal Year then elapsed,
on consolidated and, to the extent applicable, consolidating bases for Obligors and Subsidiaries, setting forth in comparative form corresponding
figures for the preceding Fiscal Year and certified by the chief financial officer of Borrower Agent as prepared in accordance with GAAP
and fairly presenting the financial position and results of operations for such month and period, subject only to normal year-end audit
adjustments and the absence of footnotes;

 

(d)            concurrently
with delivery of financial statements under clauses (a), (b) and (c) above, or more frequently if requested by Agent while
a Default or Event of Default exists, a Compliance Certificate executed by the chief financial officer of Borrower Agent (for the avoidance
of doubt, Obligors shall be required to deliver a Compliance Certificate concurrently with the delivery of all financial statements under
clauses (a), (b) and (c) above, which Compliance Certificate shall contain a detailed calculation of the Fixed Charge Coverage
Ratio as of the Fiscal Month most recently ended, which calculation shall be deemed to have been provided solely for informational purposes);

 

(e)            concurrently
with delivery of financial statements under clause (a) above, copies of all management letters and other material reports submitted
to any Obligor(s) by their accountants in connection with such financial statements;

 

(f)             as
soon as available, but in any event not later than thirty (30) days after the last day of each Fiscal Year, projections of Borrowers’
consolidated balance sheets, results of operations and cash flow for such Fiscal Year, on a Fiscal Month by Fiscal Month basis;

 

(g)            at
Agent’s request, a listing of each Obligor’s trade payables, specifying the trade creditor and balance due, and a detailed
trade payable aging, all in form reasonably satisfactory to Agent;

 

(h)            promptly
after the sending or filing thereof, copies of any proxy statements, financial statements or reports that any Borrower has made generally
available to its shareholders; copies of any regular, periodic and special reports or registration statements or prospectuses that any
Borrower files with the Securities and Exchange Commission or any other Governmental Authority, or any securities exchange; and copies
of any press releases or other statements made available by a Borrower to the public concerning material changes to or developments in
the business of such Borrower;

 

(i)             promptly
after the sending or filing thereof, copies of any annual report to be filed in connection with each Plan and;

 

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(j)             as
soon as available an in any event with 30 days after the end of each month, a written report containing an analysis by management of
the financial results of most recent Fiscal Month;

 

(k)            as
soon as available, but in any event within thirty (30) days after the end of each Fiscal Year, a report summarizing the insurance coverage
(specifying type, amount and carrier) in effect for each Obligor and containing such additional information as the Agent, or any Lender
through the Agent, may reasonably specify;

 

(l)             promptly
upon receipt, copies of any report, notices and documents received in connection with the First Lien Loan Documents and, upon execution
thereof, any waiver, amendment or other modification to the First Lien Loan Documents; and

 

(m)           such
other reports and information (financial or otherwise) as Agent may reasonably request from time to time in connection with any Collateral
or any Borrower’s, Subsidiary’s or other Obligor’s financial condition or business.

 

10.1.3.      Notices.
Notify Agent and Lenders in writing, promptly, and in any event within two Business Days, after an Obligor’s obtaining knowledge
thereof, of any of the following that affects an Obligor: (a) the threat in writing or commencement of any proceeding or investigation,
whether or not covered by insurance, if an adverse determination could have a Material Adverse Effect; (b) any pending or threatened
labor dispute, strike or walkout, or the expiration of any material labor contract; (c) any material default under or termination
of a Material Contract; (d) the existence of any Default or Event of Default; (e) any judgment in an amount exceeding $1,200,000;
(f) the assertion of any Intellectual Property Claim, if an adverse resolution could have a Material Adverse Effect; (g) any
violation or asserted violation (in writing) of any Applicable Law (including ERISA, OSHA, FLSA or any Environmental Laws), if an adverse
resolution could have a Material Adverse Effect; (h) any Environmental Release which could reasonably be expected to have a Material
Adverse Effect, by an Obligor or on any Property owned, leased or occupied by an Obligor; or receipt of any Environmental Notice; (i) the
occurrence of any ERISA Event; (j) the discharge of or any withdrawal or resignation by Borrowers’ independent accountants;
(k) any opening of a new office or place of business, at least 30 days prior to such opening; (l) the threat (in writing) or
commencement of any regulatory action or investigation by the CPSC with respect to any Obligor or with respect to any product or toy
sold, manufactured or distributed by any Obligor; (m) the receipt by any Obligor of any Epidemiological Report, the posting of any
notice on SaferProducts.gov, or request for information issued to any Obligor by the CPSC, all with respect to any product or toy sold,
manufactured or distributed by any Obligor; (n) the commencement of any voluntary or involuntary recall of any product or toy that
the Obligors sell, manufacture or distribute; (o) [reserved]; (p) of any material change in accounting policies or financial
reporting practices by any Obligor(s); (q) the filing and/or the enforcement against the Obligors of any Lien for unpaid Taxes that
in the aggregate for all such occurrences exceed $1,200,000; (r) any sale, disposition, or abandonment of any Intellectual Property
and/or Equipment, including any such sale, disposition, or abandonment that constitutes a Permitted Asset Disposition hereunder; (s) any
sale or transfer of Equity Interest that would constitute a Change of Control under clause (a), (c), (d) or (e) of the definition
of Change of Control not less than thirty (30) days prior to the consummation of such sale or transfer, (t) any sale or transfer
of a material portion of the assets of any Subsidiary that would constitute a Change of Control under clause (f) of the definition
of Change of Control not less than thirty (30) days prior to the consummation of such sale or transfer, or (u) any loss, theft,
damage or destruction of any Collateral in an amount greater than or equal to: (i) $60,000 with respect to any single occurrence
or (ii) $240,000 in the aggregate from and after the Effective Date.

 

Each notice pursuant to this Section 10.1.3
shall be accompanied by a statement of a Senior Officer of the Borrower Agent setting forth details of the occurrence referred to
therein and stating what action the Borrower Agent has taken and proposes to take with respect thereto. Each notice pursuant to this
Section 10.1.3 shall describe with particularity any and all provisions of this Agreement and any other Loan Document that
have been breached.

 

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10.1.4.      Landlord
and Storage Agreements. Upon request, provide Agent with copies of all existing agreements, and promptly after execution thereof
provide Agent with copies of all future agreements, between an Obligor and any landlord, warehouseman, processor, shipper, bailee or
other Person that owns any premises at which any Collateral may be kept or that otherwise may possess or handle any Collateral.

 

10.1.5.      Compliance
with Laws. Comply with all Applicable Laws, including ERISA, Environmental Laws, FLSA, OSHA, Anti-Terrorism Laws, CPSC Regulations
and laws regarding collection and payment of Taxes, and maintain all Governmental Approvals necessary to the ownership of its Properties
or conduct of its business, unless failure to comply (other than failure to comply with Anti-Terrorism Laws) or maintain could not reasonably
be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, if any Environmental Release, which
could reasonably be expected to have a Material Adverse Effect, occurs at or on any Properties of any Obligor or Subsidiary, it shall
act promptly and diligently to investigate and report to Agent and all appropriate Governmental Authorities the extent of, and to make
appropriate remedial action to eliminate, such Environmental Release, whether or not directed to do so by any Governmental Authority.
Maintain adequate testing and other procedures to ensure the safety of all products and toys that the Obligors sell, manufacture or distribute.

 

10.1.6.      Taxes.
Pay and discharge all Taxes prior to the date on which they become delinquent or penalties attach, unless such Taxes are being Properly
Contested.

 

10.1.7.      Insurance.
In addition to the insurance required hereunder with respect to Collateral, maintain insurance with insurers (with a Best Rating of at
least A-, unless otherwise approved by Agent) reasonably satisfactory to Agent, (a) with respect to the Properties and business
of Obligors and Subsidiaries (other than the Immaterial Foreign Subsidiaries) of such type (including product liability, workers’
compensation, larceny, embezzlement, or other criminal misappropriation insurance), in such amounts, and with such coverages and deductibles
as are customary for companies similarly situated; and (b) business interruption insurance in an amount not less than $9,000,000,
with deductibles and subject to an insurance assignment reasonably satisfactory to Agent, which shall provide for the proceeds of business
interruption insurance to be payable to Agent for application to the Obligations.

 

10.1.8.      Licenses.
Keep each License which constitutes a Material Contract affecting any Collateral (including the manufacture, distribution or disposition
of Inventory) or any other material Property of Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed
modification to any such License, or entry into any new License which constitutes a Material Contract, in each case at least 30 days
prior to its effective date; pay all Royalties when due; and notify Agent of any material default or breach asserted in writing by any
Person to have occurred under any License which constitutes a Material Contract.

 

10.1.9.      Future
Subsidiaries. Promptly (not later than 5 Business Days) notify Agent upon any Person becoming a Subsidiary or becoming a Subsidiary
that is no longer an Immaterial Foreign Subsidiary in accordance with the terms hereof, and, if such Person is not a Foreign Subsidiary
(other than a Foreign Subsidiary that is not, or is no longer designated as, an Immaterial Foreign Subsidiary), cause it to guaranty
the Obligations in a manner satisfactory to Agent, and to execute and deliver such documents, instruments and agreements and to take
such other actions as Agent shall require to evidence and perfect a Lien in favor of Agent on all assets of such Person, including delivery
of (i) duly executed perfection certificate of such Person, (ii) a Guaranty and (iii) if reasonably requested by Agent,
such legal opinions, each in form and substance reasonably satisfactory to Agent, as it shall deem appropriate.

 

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10.1.10.   Ongoing
Obligation Promptly following any request therefor, provide information and documentation reasonably requested by the Administrative
Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering rules and
regulations, including, without limitation, the PATRIOT Act and the Beneficial Ownership Regulation.

 

10.1.11.    People
with Significant Control regime. The Company and its Subsidiaries shall (a) within the relevant timeframe, comply with any notice
it receives pursuant to Part 21A of the Companies Act 2005 from any company incorporated in the United Kingdom whose shares are
subject of a Lien in favor of the Agent, and (b) promptly (not later than 5 Business Days) provide the Agent with a copy of that
notice.

 

10.1.12.    Centre
of Main Interests. Each UK Subsidiary shall maintain its centre of main interests in England and Wales for the purposes of the Regulation.

 

10.1.13.    [Reserved].

 

10.1.14.    [Reserved].

 

10.1.15.    CARES
Debt.

 

(a)            Obligors
shall provide to Agent (i) a copy of their application for CARES Debt promptly upon submission thereof and (ii) copies of the
definitive loan documentation for CARES Debt promptly following execution and delivery thereof by the parties, together with a reasonably
detailed written estimate of the amount of CARES Debt that Obligors reasonably anticipate will be subject to forgiveness pursuant to
the provisions of the CARES Act - Title I.

 

(b)            Obligors
shall timely (and, in any event, not later than December 31, 2020 (or such longer period as may be agreed by Agent) submit all applications
and required documentation necessary or desirable for the lender of the CARES Debt and/or the Small Business Administration to make a
determination regarding the amount of the CARES Debt that is eligible to be forgiven.

 

(c)            Obligors
shall provide to Agent copies of any amendments, modifications, waivers, supplements or consents executed and delivered with respect
to CARES Debt promptly (and in any event within three (3) Business Days) upon execution and delivery thereof, and copies of any
notices of default received by any Obligor with respect to the CARES Debt.

 

(d)            Obligors
shall, to the extent not included in the foregoing clause (b) or (c), promptly (and in any event within three (3) Business
Days) upon receipt or filing thereof, as applicable, provide to Agent copies of all material documents, applications and correspondence
with the applicable lender or any Governmental Authority relating to CARES Debt, including with respect to loan forgiveness.

 

(e)            Obligors
shall use the proceeds of the CARES Debt solely for CARES Act Permitted Purposes. Obligors agree to, and will cause each of their Subsidiaries
to (i) deposit all proceeds from CARES Debt into a segregated Deposit Account (the “CARES Account”) that is specially
and exclusively used to hold proceeds of CARES Debt, (ii) not commingle their funds that are not proceeds of CARES Debt with the
proceeds of CARES Debt and (iii) use funds from the CARES Account solely for CARES Act Permitted Purposes and before using any other
cash on hand to pay expenses that are CARES Act Permitted Purposes. Without limiting anything in the foregoing, Obligors shall cause
the proceeds of the CARES Debt to be deposited in a Deposit Account that is not subject to the cash dominion of Agent or any other secured
party, and shall ensure that the proceeds of the CARES Debt are not used to repay other Indebtedness.

 

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(f)             On
the CARES Forgiveness Date, Obligors shall deliver to Agent a certificate of an Authorized Officer of Obligors certifying as to the amount
of the CARES Debt that will be forgiven pursuant to the provisions of the CARES Act - Title I, together with reasonably detailed description
thereof, all in form satisfactory to Agent.

 

(g)            Each
Obligor agrees that it will not make any claim that Agent, any Lender or any of their respective Affiliates have rendered advisory services
of any nature or respect in connection with any CARES Debt, the CARES Act – Title I or the process leading thereto.

 

10.2.            Negative
Covenants. As long as any Standby Term Loan Commitments or Obligations are outstanding, each Obligor shall not and shall not
permit any Subsidiary (other than Foreign Subsidiaries) to:

 

10.2.1.      Permitted
Debt. Create, incur, guarantee or suffer to exist any Debt, except:

 

(a)            the
Obligations;

 

(b)            the
First Lien Debt to the extent such Debt is subject to and permitted under the Intercreditor Agreement;

 

(c)            Permitted
Purchase Money Debt and obligations with respect to Capital Leases so long as the aggregate amount outstanding under this clause (c) does
not exceed $3,000,000 at any time;

 

(d)            Borrowed
Money listed on Schedule 10.2.1 (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to
the extent outstanding on the Effective Date and not satisfied with proceeds of Loans funded on the Effective Date;

 

(e)            [reserved];

 

(f)             Debt
that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as
long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $1,200,000
in the aggregate at any time;

 

(g)            Permitted
Contingent Obligations;

 

(h)            Refinancing
Debt as long as each Refinancing Condition is satisfied;

 

(i)             Subordinated
Debt;

 

(j)             Debt
of the Obligors owing to any Subsidiary and of any Subsidiary owing to an Obligor or any other Subsidiary; provided, that any
such Debt that is owed by a Subsidiary that is not an Obligor shall be subject to Sections 10.2.5 and 10.2.7;

 

(k)            Debt
owed to any Person (including obligations in respect of letters of credit for the benefit of such Person) providing workers’ compensation,
health, disability or other employee benefits or property, casualty, liability insurance, self-insurance, pursuant to reimbursement or
indemnification obligations to such Person or to finance insurance premiums, in each case incurred in the Ordinary Course of Business;

 

(l)             Debt
consisting of cash earnout obligations owed to the seller of any business or assets acquired in a Permitted Acquisition; provided
that the aggregate amount of Debt outstanding at any one time permitted under this Section 10.2.1(l) shall not exceed
$1,800,000;

 

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(m)           unsecured
Indebtedness in an aggregate principal amount not to exceed $1,955,792, provided that such Debt is not “moratorium debt”
as such term is defined in the Corporate Insolvency and Governance Act 2020 (UK) unless such moratorium debt is incurred with the prior
written consent of Agent, advanced by (i) any Governmental Authority (including the Small Business Administration) or any other
Person acting as a financial agent of a Governmental Authority or (ii) any other Person to the extent such Indebtedness under this
clause (ii) is guaranteed by a Governmental Authority (including the Small Business Administration), in each case under this Section 10.2.1(m),
pursuant to the CARES Act - Title I (such unsecured Indebtedness, “CARES Debt”); provided, that unless otherwise
approved by Agent, (A) no Event of Default shall have occurred and be continuing at the time of incurrence thereof and (B) CARES
Debt shall (1) be used by Obligors and their Subsidiaries solely for purposes permitted under the CARES Act - Title I, (2) have
a maturity date not less than two (2) years after the date of incurrence of the CARES Debt, (3) bear interest at a rate not
greater than one percent (1%) per annum, (4) not require any payments of principal prior to maturity and (5) otherwise have
terms customary for loans made pursuant to the CARES Act - Title I (taken as a whole); provided, further, that CARES Unforgiven
Debt, if any, shall not be permitted under this Section 10.2.1(m); and

 

(n)            Debt
that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $1,200,000 in the
aggregate at any time.

 

For purposes of determining compliance with this
Section 10.2.1, in the event that an item of Debt (or any portion thereof, but excluding any Indebtedness incurred pursuant
to Section 10.2.1(a) at any time meets the criteria of more than one of the categories described above in Section 10.2.1,
the Borrower, in its sole discretion, may classify or reclassify (or later divide, classify or reclassify) such item of Debt (or any
portion thereof) and shall only be required to include the amount and type of such Debt in one of the above clauses. Accrual of interest
or dividends, the accretion of accreted value, the accretion or amortization of original issue discount and the payment of interest,
premium, fees or expenses, in the form of additional Debt (in each case so long as such additional Debt is in the same form and on the
same terms as the Debt to which such payment relates) shall not be deemed to be an incurrence of Debt for purposes of this Section 10.2.1.

 

10.2.2.      Permitted
Liens. Create or suffer to exist any Lien upon any of its Property, except the following (collectively, “Permitted Liens”):

 

(a)            Liens
in favor of Agent;

 

(b)            Liens
in favor of First Lien Agent securing the First Lien Debt to the extent such Liens are subject to the Intercreditor Agreement;

 

(c)            Purchase
Money Liens securing Permitted Purchase Money Debt;

 

(d)            Liens
for Taxes not yet overdue or being Properly Contested;

 

(e)            inchoate
statutory Liens (Liens for Taxes or Liens imposed under ERISA) arising in the Ordinary Course of Business, but only if (i) payment
of the obligations secured thereby is not yet due or is being Properly Contested, and (ii) such Liens do not materially impair the
value or use of the Property or materially impair operation of the business of any Borrower or Subsidiary;

 

(f)             Liens
incurred or deposits made in the Ordinary Course of Business to secure the performance of tenders, bids, leases, contracts (except those
relating to Borrowed Money), statutory obligations and other similar obligations, or arising as a result of progress payments under government
contracts, as long as such Liens are at all times junior to Agent’s Liens;

 

(g)            Liens
arising in the Ordinary Course of Business that are subject to Lien Waivers (as such term is defined in the First Lien Loan Agreement);

 

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(h)            Liens
arising by virtue of a judgment or judicial order against any Borrower or Subsidiary, or any Property of a Borrower or Subsidiary, as
long as such Liens do not give rise to a Default or an Event of Default hereunder and are being Properly Contested;

 

(i)             easements,
rights-of-way, restrictions, covenants or other agreements of record, and other similar charges or encumbrances on Real Estate, that
do not secure any monetary obligation and do not interfere with the Ordinary Course of Business;

 

(j)             normal
and customary rights of setoff upon deposits in favor of depository institutions, and Liens of a collecting bank on Payment Items in
the course of collection;

 

(k)            Liens
securing Debt permitted by Section 10.2.1(c) so long as such Lien does not cover more than the property subject to such
Capital Lease;

 

(l)             [reserved];

 

(m)           statutory
Liens of landlords, carriers, warehousemen, mechanics, materialmen and other Liens imposed by Applicable Law in the Ordinary Course of
Business for amounts not yet due or which are being Properly Contested;

 

(n)            pledges
and deposits made in the Ordinary Course of Business in compliance with workers’ compensation, unemployment insurance and other
social security laws or regulations;

 

(o)            any
Lien existing on any property or asset (other than Accounts or Inventory in favor of the First Lien Agent) prior to the acquisition thereof
by the Borrower or any Subsidiary or existing on any property or asset of any Person that became or becomes a Subsidiary after the Effective
Date prior to the time such Person became or becomes a Subsidiary; provided that (i) such Lien is not created in contemplation
of such acquisition or such Person becoming a Subsidiary as the case may be, (ii) such Lien shall not apply to any other property
or asset of the Borrower or any Obligor (other than any replacements of such property or assets and additions and accessions thereto,
after-acquired property subject to a Lien securing Debt and other obligations incurred prior to such time and which Debt and other obligations
are permitted hereunder that require, pursuant to their terms at such time, a pledge of after-acquired property, and the proceeds and
the products thereof and customary security deposits in respect thereof and in the case of multiple financings of equipment provided
by any lender, other equipment financed by such lender), (iii) such Lien shall secure only those obligations and unused commitments
(and to the extent such obligations and commitments constitute Debt, such Debt is permitted hereunder) that it secures on the date of
such acquisition or the date such Person becomes a Subsidiary, as the case may be, and extensions, renewals and replacements thereof
so long as the principal amount of such extensions, renewals and replacements does not exceed the principal amount of the obligations
being extended, renewed or replaced (plus any accrued but unpaid interest (including any portion thereof which is payable in kind in
accordance with the terms of such extended, renewed or replaced Debt) and premium payable by the terms of such obligations thereon and
fees and expenses associated therewith) and (iv) the Debt secured by such Lien is incurred pursuant to and in accordance with the
terms of Section 10.2.1(f);

 

(p)            Liens
representing (i) any interest or title of a licensor, lessor or sublicensor or sublessor under any lease or license permitted by
this Agreement, (ii) any Lien or restriction that the interest or title of such lessor, licensor, sublessor or sublicensor may be
subject to, or (iii) the interest of a licensee, lessee, sublicensee or sublessee arising by virtue of being granted a license or
lease permitted by this Agreement, in each case not interfering in any material respect with the ordinary conduct of the business of
the Borrowers and the Subsidiaries, taken as a whole;

 

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(q)            any
Lien in connection with debt permitted under Section 10.2.1(h);

 

(r)             Liens
arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into in the Ordinary
Course of Business;

 

(s)            the
filing of UCC financing statements solely as a precautionary measure or required notice in connection with operating leases or consignment
of goods;

 

(t)             Liens
not otherwise permitted by this Section10.2.2 to the extent that the aggregate outstanding amount of the obligations secured
thereby at any time outstanding does not exceed $600,000;

 

(u)            Liens
in favor of customs and revenue authorities to secure payment of customs duties in connection with the importation of goods;

 

(v)            Liens
of bailees in the Ordinary Course of Business;

 

(w)           utility
and similar deposits in the Ordinary Course of Business;

 

(x)            non-exclusive
licenses and sublicenses granted by a Borrower or any of its Subsidiaries and leases and subleases by a Borrower or any Subsidiary to
third parties in the Ordinary Course of Business not interfering with the business of a Borrower or any of its Subsidiaries; and

 

(y)           existing
Liens shown on Schedule 10.2.2.

 

For purposes of determining compliance with this
Section 10.2.2, (x) a Lien need not be incurred solely by reference to one category of Liens described above
but may be incurred under any combination of such categories (including in part under one such category and in part under any other such
category) and (y) in the event that a Lien (or any portion thereof) meets the criteria of one or more of such categories of Liens
described above, the Borrowers, in their sole discretion, may classify or may subsequently reclassify at any time such Lien (or any portion
thereof) in any manner that complies with this covenant.

 

Notwithstanding anything to the contrary contained
in this Agreement or any other Loan Document (including any provision for, reference to, or acknowledgement of, any Lien or Permitted
Lien), nothing herein and no approval by the Agent or any Lender of any Lien or Permitted Lien (whether such approval is oral or in writing)
shall be construed as or deemed to constitute a subordination by the Agent or such Lender of any security interest or other right, interest
or Lien in or to the Collateral or any part thereof in favor of any Lien or Permitted Lien or any holder of any Lien or Permitted Lien.

 

10.2.3.     Anti-Layering.
Notwithstanding anything to the contrary in this Agreement or in the other Loan Documents (except the Intercreditor Agreement), no Obligor
shall, and no Obligor shall permit any of its Subsidiaries to, incur, create, issue, assume, guarantee or in any other manner become
directly or indirectly liable with respect to or responsible for, or permit to remain outstanding, any Debt that is subordinate or junior
in right of payment to any First Lien Debt or any contingent obligation or guarantee in respect thereof (other than the Obligations)
unless such Debt is also subordinate or junior in right of payment to the Notes and the other Obligations and all contingent obligations
or guarantees in respect thereof to at least the same extent; provided, that nothing in this Section 10.2.3 shall be construed
to restrict the ability of the Obligors or their Subsidiaries to at any time and from time to time without the consent of or notice to
Agent or any Lender and without violating any Loan Document or creating any Event of Default, amend the payment waterfall provisions
contained in the First Lien Loan Documents, to the extent permitted under the Intercreditor Agreement, create or add new tranches of
Senior Debt (as such term is defined in the Intercreditor Agreement), and/or reallocate all or a portion of the Senior Debt to the principal
amount of one or more newly created loan tranches or facilities, each of which (and/or the Liens securing same) may be contractually
senior, junior or pari passu to the then existing or thereafter arising Senior Debt (and/or the Liens securing same) and contain
such terms and provisions to be determined and agreed among the Obligors (or any one or more of them), First Lien Agent, and relevant
First Lien Lenders.

 

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10.2.4.      Distributions;
Upstream Payments. Declare or make, directly or indirectly, any Distribution (or enter into any agreement which obligates any Borrower
or Subsidiary to make any Distribution unless such agreement is conditioned upon either obtaining the consent of Agent and Required Lenders
to such transaction or the Full Payment of the Obligations upon the making of such Distribution), except Permitted Restricted Payments;
or create or suffer to exist any encumbrance or restriction on the ability of a Subsidiary to make any Upstream Payment, except for restrictions
under the Loan Documents, under Applicable Law or in effect on the Effective Date as shown on Schedule 9.1.15.

 

10.2.5.      Restricted
Investments. Make any Restricted Investment.

 

10.2.6.      Disposition
of Assets. Make any Asset Disposition, except a Permitted Asset Disposition, a disposition of Equipment under Section 8.4.2,
or a transfer of Property by a Subsidiary or Obligor to a Borrower.

 

10.2.7.      Loans.
Make any loans or advances, except (a) to officers, directors, partners and employees of the Obligors in the Ordinary Course of
Business in an amount greater than $240,000 to any individual at any time or in an aggregate amount greater than $600,000 at any time
outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; (b) prepaid expenses and extensions
of trade credit made in the Ordinary Course of Business; (c) deposits with financial institutions permitted hereunder; and (d) as
long as no Default or Event of Default exists, intercompany loans by an Obligor to another Obligor or a Foreign Subsidiary, provided
that intercompany loans from the Borrower (i) to the Canadian Subsidiary shall not exceed $600,000 in the aggregate at any time
and (ii) to the UK Subsidiaries shall not exceed $1,200,000 in the aggregate at any time.

 

10.2.8.      Restrictions
on Payment of Certain Debt. Except in connection with any Refinancing permitted under Section 10.2.1, make any payments
(whether voluntary or mandatory, or a prepayment, redemption, retirement, defeasance or acquisition) with respect to any (a) Subordinated
Debt, except regularly scheduled payments of principal, interest and fees, but only to the extent permitted under any subordination agreement
relating to such Debt (and a Senior Officer of Borrower Agent shall certify to Agent, not less than five Business Days prior to the date
of payment, that all conditions under such agreement have been satisfied); or (b) Borrowed Money (other than the Obligations or
the First Lien Debt subject in all respects to the terms of the Intercreditor Agreement) prior to its due date under the agreements evidencing
such Debt as in effect on the Effective Date (or as amended thereafter with the consent of Agent).

 

10.2.9.      Fundamental
Changes. (a) Change its name or conduct business under any fictitious name; change its tax, charter or other organizational
identification number; change its form or state of organization, without, in the case of any such change described in this clause (a),
providing not less than ten (10) days prior written notice to Agent, (b) liquidate, wind up its affairs or dissolve itself;
or (c) merge, amalgamate, combine or consolidate with any Person, whether in a single transaction or in a series of related transactions,
except for (i) mergers, amalgamations or consolidations of a wholly-owned Subsidiary with another wholly-owned Subsidiary or into
a Borrower; or (ii) Permitted Acquisitions.

 

10.2.10.    Subsidiaries.
Form or acquire any Subsidiary after the Effective Date, except in accordance with Sections 10.1.9, 10.2.5 and 10.2.9;
or permit any existing Subsidiary to issue any additional Equity Interests except director’s qualifying shares.

 

10.2.11.    Organic
Documents. Amend, modify or otherwise change any of its Organic Documents in any manner adverse to the Lenders, except in connection
with either a rights distribution by the Company or a transaction permitted under Section 10.2.9.

 

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10.2.12.    Tax
Consolidation. File or consent to the filing of any consolidated income tax return with any Person other than Obligors and Subsidiaries.

 

10.2.13.    Accounting
Changes. Make any material change in accounting treatment or reporting practices, except as required by GAAP and in accordance with
Section 1.2; or change its Fiscal Year.

 

10.2.14.    Restrictive
Agreements. Become a party to any Restrictive Agreement, except a Restrictive Agreement (a) in effect on the Effective Date;
and (b) following the Effective Date, subject to Agent’s prior consent.

 

10.2.15.    Hedging
Agreements. Enter into any Hedging Agreement, except to hedge risks arising in the Ordinary Course of Business and not for speculative
purposes.

 

10.2.16.    Conduct
of Business. Engage in any business, other than (i) the businesses conducted by the Obligors on the Effective Date and activities
incidental or supplemental thereto, and (ii) businesses similar to the business conducted by the Obligors on the Effective Date
or other businesses approved by Agent in its Permitted Discretion. This Section 10.2.16 shall not apply to Immaterial Foreign
Subsidiaries.

 

10.2.17    Affiliate
Transactions. Enter into or be party to any transaction with an Affiliate, except (a) transactions expressly permitted by the
Loan Documents; (b) payment of reasonable compensation to officers and employees for services actually rendered, and payment of
customary directors’ fees and indemnities; (c) transactions solely among Obligors; (d) transactions with Affiliates that
were consummated prior to the Effective Date, as shown on Schedule 10.2.17; (e) intercompany loans permitted under Section 10.2.7;
(f) subject to Agent’s prior consent (such consent not to be unreasonably withheld, denied, delayed or conditioned), transactions
with Affiliates in the Ordinary Course of Business, upon fair and reasonable terms which are fully disclosed to Agent and no less favorable
than would be obtained in a comparable arm’s-length transaction with a non-Affiliate; and (g) other transactions consented
to by the Agent in its sole discretion.

 

10.2.18.    Plans.
Become party to (including by way of acquisition of any Person), without the consent of the Agent (acting reasonably), any Multiemployer
Plan or Foreign Plan, other than any in existence on the Effective Date.

 

10.2.19.    Amendments
to First Lien Debt and Subordinated Debt. (a) Amend, restate supplement or otherwise modify the First Lien Loan Agreement (or
the other First Lien Loan Documents), if such amendment, restatement, supplement or other modification would not be permitted under the
Intercreditor Agreement or (b) Amend, restate, supplement or otherwise modify any document, instrument or agreement relating to
the Subordinated Debt, if such modification (i) increases the principal balance of such Debt, or increases any required payment
of principal or interest; (ii) accelerates the date on which any installment of principal or any interest is due, or adds any additional
redemption, put or prepayment provisions; (iii) shortens the final maturity date or otherwise accelerates amortization; (iv) increases
the interest rate; (v) materially increases or adds any fees or charges; (vi) modifies any covenant in a manner or adds any
representation, covenant or default that is more onerous or restrictive in any material respect for any Obligor or Subsidiary, or that
is otherwise materially adverse to any Obligor, any Subsidiary or Lenders; or (vii) results in the Obligations not being fully benefited
by the subordination provisions thereof. If any amendment or modification to the First Lien Loan Documents amends or modifies any covenant
(including any financial covenant) or event of default contained in the First Lien Loan Documents (or any related definitions), in each
case, in a manner that is more restrictive than the applicable provisions permit as of the date thereof, or if any amendment or modification
to the First Lien Loan Documents adds an additional covenant or event of default therein, the Obligors acknowledge and agree that this
Agreement or the Loan Documents, as the case may be, shall be automatically amended or modified to affect similar amendments or modifications
with respect to this Agreement or such Loan Documents (but maintaining the same proportionate ratios as between the First Lien Loan Documents,
on the one hand, and this Agreement and the Loan Documents, on the other hand, in respect of any differences in dollar baskets, dollar
thresholds or the Fixed Charge Coverage Ratio) without the need for any further action or consent by any Borrower or any other party.
In furtherance of the foregoing, the Obligors shall permit the Agent and Lenders to document each such similar amendment or modification
to this Agreement or such Loan Document or insert a corresponding new covenant or event of default in this Agreement or such Loan Document
without any need for any further action or consent by the Obligors.

 

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(b)              Amend,
supplement or otherwise modify any document, instrument or agreement relating to the First Lien Debt; provided, however, that Obligors
may amend, restate, supplement or otherwise modify any First Lien Loan Document to the extent expressly permitted under the terms of
the Intercreditor Agreement.

 

10.2.20.    Amendments
to CARES Debt. Anything to the contrary contained in this Agreement notwithstanding, agree to any amendment, restatement, supplement,
waiver or other modification of the CARES Debt if the effect of such amendment, restatement, supplement, waiver or other modification
would be materially adverse to Obligors or the Lenders.

 

10.3.            Financial
Covenants.

 

10.3.1.      Fixed
Charge Coverage Ratio. Obligors and their Subsidiaries shall maintain a Fixed Charge Coverage Ratio as of the last day of each Fiscal
Month, commencing December 21, 2022, for each period of twelve consecutive Fiscal Months then most recently ended, of at least 0.80
to 1.00.

 

10.3.2.      Minimum
Availability. Obligors and their Subsidiaries shall maintain Availability (as defined in the First Lien Loan Agreement) at all times
of at least $2,400,000.

 

10.3.3.      Minimum
EBIDTA. Obligors and their Subsidiaries shall achieve EBITDA for each Applicable Period set forth below of not less than the Minimum
EBITDA amount set forth below opposite such Applicable Period:

 

	Applicable Period	Minimum
    EBITDA
	Three
    Fiscal Months ending April 2, 2022	[***]
	Four
    Fiscal Months ending April 30, 2022	[***]
	Five
    Fiscal Months ending May 28, 2022	[***]
	Six
    Fiscal Months ending July 2, 2022	[***]
	Seven
    Fiscal Months ending July 30, 2022	[***]
	Eight
    Fiscal Months ending August 27, 2022	[***]
	Nine
    Fiscal Months ending October 1, 2022	[***]
	Ten
    Fiscal Months ending October 29, 2022	[***]
	Eleven
    Fiscal Months ending November 26, 2022	[***]

 

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10.4.            Restrictions
on Activities of Company. Obligors covenant and agree that Company shall not (i) hold any assets other than the Equity Interests
of SI USA, SI UK or SI Asia and cash and Cash Equivalents, (ii) have any material liabilities other than liabilities under the Loan
Documents, tax liabilities in the Ordinary Course of Business, liabilities under employment agreements and written employment arrangements,
and corporate, administrative and operating expenses in the Ordinary Course of Business, or (iii) engage in any business other than
owning the Equity Interests of SI USA and activities incidental to such ownership, acting as a co-borrower in respect of the Obligations
hereunder, and granting to Agent for the benefit of Lenders, security interests in and Liens upon its assets pursuant to the Security
Documents to which it is a party.

 

10.5.            Restrictions
on Activities of Foreign Subsidiaries. Obligors covenant and agree that (a) no Obligor shall guaranty any liabilities or
obligations of any Foreign Subsidiary; (b) no Obligor shall make any Investment in, or transfer any properties or assets to, any
Foreign Subsidiary, other than as permitted under Sections 10.2.5 and 10.2.17; (c) no Foreign Subsidiary shall create
or suffer to exist any encumbrance or restriction on the ability of a Subsidiary to make any Upstream Payment, except for restrictions
under the Loan Documents, under Applicable Law or in effect on the Effective Date as shown on Schedule 9.1.15 and (d) the
aggregate outstanding Debt owed by Foreign Subsidiaries (excluding Debt owed to Obligors that is permitted under Section 10.2.7)
shall not at any time exceed the foreign currency equivalent of $300,000.

 

Section 11.    EVENTS
OF DEFAULT; REMEDIES ON DEFAULT

 

11.1.            Events
of Default. Each of the following shall be an “Event of Default” if it occurs for any reason whatsoever, whether
voluntary or involuntary, by operation of law or otherwise:

 

(a)            Any
Obligor fails to pay (i) its Obligations under the Loan Documents constituting principal, interest, or any fees payable under Section 3.2.1,
3.2.2 or 3.2.3 when due (whether at stated maturity, on demand, upon acceleration or otherwise) or (ii) solely with respect
to any Obligations not constituting principal, interest, or any fees payable under Section 3.2.1, 3.2.2 or 3.2.3;

 

(b)            Any
representation, warranty or other written statement of an Obligor made in connection with any Loan Documents or transactions contemplated
thereby is incorrect or misleading in any material respect when given;

 

(c)            An
Obligor breaches or fail to perform any covenant contained in Section 7.4, 8.1, 8.2.4, 8.2.5, 8.5, 8.6.2, 10.1.1(a), 10.1.2,
10.1.3, 10.1.6, 10.2 or 10.3;

 

(d)            An
Obligor breaches or fails to perform any other covenant contained in any Loan Documents, and such breach or failure is not cured within
20 days after a Senior Officer of such Obligor has knowledge thereof or receives notice thereof from Agent, whichever is sooner; provided,
however, that such notice and opportunity to cure shall not apply if the breach or failure to perform is not capable of being cured within
such period or is a willful breach by an Obligor;

 

(e)            A
Guarantor repudiates, revokes or attempts to revoke in writing its Guaranty; an Obligor or third party denies or contests the validity
or enforceability of any Loan Documents or Obligations, or the perfection or priority of any Lien granted to Agent; or any Loan Document
ceases to be in full force or effect for any reason (other than a waiver or release by Agent and Lenders);

 

(f)            (i) Any
or all of the First Lien Debt shall become due or shall be declared to be due and payable prior to the expressed maturity as a consequence
of the occurrence or continuation of any “Event of Default” (as defined in the First Lien Loan Agreement) or (ii) any
breach or default of an Obligor occurs under any instrument or agreement to which it is a party or by which it or any of its Properties
is bound, relating to any Debt (other than the Obligations or the First Lien Debt) in excess of $2,400,000 (if, with respect to this
clause (iii), the maturity of or any payment with respect to such Debt may be accelerated or demanded due to such breach); provided
that so long as the Agent has not exercised any remedies under this Section 11, any Default or Event of Default under
this Section 11.1(f) shall be immediately cured and no longer continuing (without any action on the part of the Agent,
any Lender or otherwise) as and when any such failure (x) is remedied by the Borrowers or applicable Subsidiary or (y) is waived
(including in the form of amendment) by the requisite holders of the applicable foregoing;

 

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(g)            Any
final non-appealable judgment or order for the payment of money is entered against an Obligor in an amount that exceeds, individually
or cumulatively with all unsatisfied judgments or orders against all Obligors, $1,200,000 (net of insurance coverage therefor that has
not been denied by the insurer) and has not been paid, satisfied, discharged, or vacated and there is a period of 30 calendar days during
which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect;

 

(h)            A
loss, theft, damage or destruction occurs with respect to any Collateral if the amount not covered by insurance exceeds $2,400,000;

 

(i)             An
Obligor is enjoined, restrained or in any way prevented by any Governmental Authority from conducting any material part of its business;
an Obligor suffers the loss, revocation or termination of any material license, permit, lease or agreement necessary to its business;
there is a cessation of any material part of an Obligor’s business for a material period of time; any material Collateral or Property
of an Obligor is taken or impaired through condemnation; an Obligor agrees to or commences any liquidation, dissolution or winding up
of its affairs; or an Obligor is not Solvent;

 

(j)             An
Insolvency Proceeding is commenced by an Obligor; an Obligor makes an offer of settlement, extension or composition to its unsecured
creditors generally; any Obligor becomes unable or admits in writing its inability or fails generally to pay its debts as they become
due in the Ordinary Course of Business; a trustee, a receiver, an interim receiver, monitor, liquidator or similar official is appointed
to take possession of any substantial Property of or to operate any of the business of an Obligor; or an Insolvency Proceeding or proceeding
applicable to bankruptcy or insolvency is commenced against an Obligor and: the Obligor consents to institution of the proceeding, the
petition or notice commencing the proceeding is not timely contested by the Obligor, the petition or notice is not, in respect of an
Obligor (other than a UK Subsidiary, dismissed within 45 days after filing, an order for relief is entered in the proceeding, or in respect
of a UK Subsidiary, the petition is a winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed within
14 days of commencement);

 

(k)            (i) An
ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan that has resulted or could reasonably be expected to result in
liability of an Obligor to a Pension Plan, Multiemployer Plan or PBGC or that constitutes grounds for appointment of a trustee for or
termination by the PBGC of any Pension Plan or Multiemployer Plan; an Obligor or ERISA Affiliate fails to pay when due any installment
payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan; or (ii) any event
similar to the foregoing occurs or exists with respect to a Foreign Plan;

 

(l)             An
Obligor or any of its Senior Officers is criminally indicted or convicted for (i) a felony committed in the conduct of the Obligor’s
business, or (ii) violating any state, provincial or federal law (including the Controlled Substances Act, Money Laundering Control
Act of 1986, Proceeds of Crime Act and Illegal Exportation of War Materials Act) that could lead to forfeiture of any material Property
or any Collateral;

 

(m)           A
Change of Control occurs;

 

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(n)            A
Change of Control occurs, or similar event occurs under the First Lien Loan Agreement;

 

(o)            Any
fine is issued against any Obligors by the CPSC in an amount that exceeds, individually or cumulatively with all other fines issued by
the CPSC against the Obligors within the prior 12 months, $1,800,000;

 

(p)            Obligors
institute a recall of products or toys constituting Inventory which: (i) is unsaleable or unable to be repaired and has an aggregate
Value in excess of $2,400,000, (ii) results in, or could reasonably be expected to result in, the Obligors expending in excess of
$2,400,000 in connection with the recall, repair, remediation or replacement of such Inventory, or (iii) results in, or could reasonably
be expected to result in, the Obligors incurring claims, losses, liabilities or damages in excess of $6,000,000 in the aggregate (net
of insurance coverage therefor that has not been denied by the insurer);

 

(q)            (i) the
Intercreditor Agreement shall for any reason be revoked or invalidated or otherwise cease to be in full force and effect, or any party
to such Intercreditor Agreement shall contest in writing, the validity or enforceability thereof or deny that it has any further liability
or obligation thereunder, or the Liens securing the Obligations, for any reason shall not have the priority contemplated by the Intercreditor
Agreement, or (ii) The subordination provisions of any agreement or instrument relating to any Subordinated Debt shall for any reason
be revoked or invalidated, or otherwise cease to be in full force and effect, or any Person party thereto (other than Agent or the Lenders)
shall contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation thereunder,
or the Obligations, for any reason shall not have the priority contemplated by this Agreement or such subordination provisions;

 

(r)            (i) Any
provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder
or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Obligor or any other Person
contests in any manner the validity or enforceability of any provision of any Loan Document; or any Obligor denies that it has any or
further liability or obligation under any provision of any Loan Document, or purports to revoke, terminate or rescind any provision of
any Loan Document or seeks to avoid, limit or otherwise adversely affect any Lien purported to be created under any Security Document;
or (ii) any Lien purported to be created under any Security Document shall cease to be, or shall be asserted by any Loan Party or
any other Person not to be, a valid and perfected Lien on any Collateral, with the priority required by the applicable Security Document
and/or the Intercreditor Agreement;

 

(s)            Except
as otherwise expressly permitted hereunder, an Obligor shall take any action to either: (i) suspend the operation of all or a material
portion of its business in the ordinary course, (ii) suspend the payment of any material obligations in the ordinary course or suspend
the performance under Material Contracts in the ordinary course, (iii) solicit proposals for the liquidation of, or undertake to
liquidate, all or a material portion of its assets, or (iv) solicit proposals for the employment of, or employ, an agent or other
third party to conduct a program of liquidation sales of any material portion of its business, taken as a whole; or

 

(t)             any
event of default occurs with respect to the CARES Debt or any event or condition occurs that results in the CARES Debt becoming due prior
to its scheduled maturity or that enables or permits the holder or holders thereof to declare the CARES Debt to be due, or to require
the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity.

 

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11.2.            Remedies
upon Default. If an Event of Default described in Section 11.1(j) occurs with respect to any Borrower, then to the
extent permitted by Applicable Law, all Obligations shall become automatically due and payable and all Standby Term Loan Commitments
shall terminate, without any action by Agent or notice of any kind. In addition, or if any other Event of Default exists, Agent may in
its discretion (and shall upon written direction of Required Lenders) do any one or more of the following from time to time, in each
case, subject to the terms of the Intercreditor Agreement:

 

(a)            declare
any Obligations immediately due and payable, whereupon they shall be due and payable without diligence, presentment, demand, protest
or notice of any kind, all of which are hereby waived by Borrowers to the fullest extent permitted by law;

 

(b)            terminate,
reduce or condition any Standby Term Loan Commitment;

 

(c)            require
Obligors to Cash Collateralize Obligations that are contingent or not yet due and payable, and, if Obligors fail promptly to deposit
such Cash Collateral, Agent may (and shall upon the direction of Required Lenders) advance the required Cash Collateral as Standby Term
Loans (whether or not the conditions in Section 6 are satisfied); and

 

(d)            exercise
any other rights or remedies afforded under any agreement, by law, at equity or otherwise, including the rights and remedies of a secured
party under the UCC. Such rights and remedies include the rights to (i) take possession of any Collateral; (ii) require Obligors
to assemble Collateral, at Obligors’ expense, and make it available to Agent at a place designated by Agent; (iii) enter any
premises where Collateral is located and store Collateral on such premises until sold (and if the premises are owned or leased by an
Obligor, Obligors agree not to charge for such storage); and (iv) sell or otherwise dispose of any Collateral in its then condition,
or after any further manufacturing or processing thereof, at public or private sale, with such notice as may be required by Applicable
Law, in lots or in bulk, at such locations, all as Agent, in its discretion, deems advisable. Each Obligor agrees that 10 days’
notice of any proposed sale or other disposition of Collateral by Agent shall be reasonable, and that any sale conducted on the internet
or to a licensor of Intellectual Property shall be commercially reasonable. Agent may conduct sales on any Obligor’s premises,
without charge, and any sale may be adjourned from time to time in accordance with Applicable Law. Agent shall have the right to sell,
lease or otherwise dispose of any Collateral for cash, credit or any combination thereof, and Agent may purchase any Collateral at public
or, if permitted by law, private sale and, in lieu of actual payment of the purchase price, may credit bid and set off the amount of
such price against the Obligations.

 

11.3.            License.
Agent is hereby granted an irrevocable, non-exclusive license or other right to use, license or sub-license (without payment of royalty
or other compensation to any Person) any or all Intellectual Property of Obligors, computer hardware and software, trade secrets, brochures,
customer lists, promotional and advertising materials, labels, packaging materials and other Property, in advertising for sale, marketing,
selling, collecting, completing manufacture of, or otherwise exercising any rights or remedies with respect to, any Collateral. Each
Obligor’s rights and interests under Intellectual Property shall inure to Agent’s benefit.

 

11.4.            Setoff.
At any time during an Event of Default, Agent, Lenders, and any of their Affiliates are authorized, to the fullest extent permitted by
Applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency)
at any time held and other obligations (in whatever currency) at any time owing by Agent, such Lender or such Affiliate to or for the
credit or the account of an Obligor against any Obligations, irrespective of whether or not Agent, such Lender or such Affiliate shall
have made any demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or
are owed to a branch or office of Agent, such Lender or such Affiliate different from the branch or office holding such deposit or obligated
on such indebtedness. The rights of Agent, each Lender and each such Affiliate under this Section are in addition to other rights
and remedies (including other rights of setoff) that such Person may have. The rights of the Agent and Lenders under this Section 11.4
are expressly subject to the terms of the Intercreditor Agreement.

 

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11.5.            Remedies
Cumulative; No Waiver.

 

11.5.1.      Cumulative
Rights. All agreements, warranties, guaranties, indemnities and other undertakings of Obligors under the Loan Documents are cumulative
and not in derogation of each other. The rights and remedies of Agent and Lenders are cumulative, may be exercised at any time and from
time to time, concurrently or in any order, and are not exclusive of any other rights or remedies available by agreement, by law, at
equity or otherwise. All such rights and remedies shall continue in full force and effect until Full Payment of all Obligations.

 

11.5.2.      Waivers.
No waiver or course of dealing shall be established by (a) the failure or delay of Agent or any Lender to require strict performance
by Obligors with any terms of the Loan Documents, or to exercise any rights or remedies with respect to Collateral or otherwise; (b) the
making of any Loan during a Default, Event of Default or other failure to satisfy any conditions precedent; or (c) acceptance by
Agent or any Lender of any payment or performance by an Obligor under any Loan Documents in a manner other than that specified therein.
It is expressly acknowledged by Obligors that any failure to satisfy a financial covenant on a measurement date shall not be cured or
remedied by satisfaction of such covenant on a subsequent date.

 

Section 12.    AGENT

 

12.1.            Appointment,
Authority and Duties of Agent.

 

12.1.1.      Appointment
and Authority. Each Secured Party appoints and designates Wynnefield as Agent under all Loan Documents and to hold the security interests
constituted hereby the Security Documents on trust for the Secured Parties in accordance with their terms and the Agent accepts that
appointment. Agent may, and each Secured Party authorizes Agent to, enter into all Loan Documents to which Agent is intended to be a
party and accept all Security Documents, for the benefit of Secured Parties. Any action taken by Agent in accordance with the provisions
of the Loan Documents, and the exercise by Agent of any rights or remedies set forth therein, together with all other powers reasonably
incidental thereto, shall be authorized by and binding upon all Secured Parties. Without limiting the generality of the foregoing, Agent
shall have the sole and exclusive authority to (a) act as the disbursing and collecting agent for Lenders with respect to all payments
and collections arising in connection with the Loan Documents; (b) execute and deliver as Agent each Loan Document, including any
intercreditor or subordination agreement, and accept delivery of each Loan Document; (c) act as collateral agent for Secured Parties
for purposes of perfecting and administering Liens under the Loan Documents, and for all other purposes stated therein; (d) manage,
supervise or otherwise deal with Collateral; and (e) take any Enforcement Action or otherwise exercise any rights or remedies with
respect to any Collateral or under any Loan Documents, Applicable Law or otherwise. The duties of Agent are ministerial and administrative
in nature only, and Agent shall not have a fiduciary relationship with any Secured Party, Participant or other Person, by reason of any
Loan Document or any transaction relating thereto.

 

12.1.2.      Duties.
The title of "Agent" is used solely as a matter of market custom and the duties of Agent are administrative in nature only.
Agent has no duties except those expressly set forth in the Loan Documents, and in no event does Agent have any agency, fiduciary or
implied duty to or relationship with any Secured Party or other Person by reason of any Loan Document or related transaction. The conferral
upon Agent of any right shall not imply a duty to exercise such right, unless instructed to do so by Lenders in accordance with this
Agreement.

 

12.1.3.      Agent
Professionals. Agent may perform its duties through agents and employees. Agent may consult with and employ Agent Professionals,
and shall be entitled to act upon, and shall be fully protected in any action taken in good faith reliance upon, any advice given by
an Agent Professional. Agent shall not be responsible for the negligence or misconduct of any agents, employees or Agent Professionals
selected by it with reasonable care.

 

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12.1.4.      Instructions
of Required Lenders. The rights and remedies conferred upon Agent under the Loan Documents may be exercised without the necessity
of joinder of any other party, unless required by Applicable Law. In determining compliance with a condition for any action hereunder,
including satisfaction of any condition in Section 6, Agent may presume that the condition is satisfactory to a Secured Party
unless Agent has received notice to the contrary from such Secured Party before Agent takes the action. Agent may request instructions
from Required Lenders or other Secured Parties with respect to any act (including the failure to act) in connection with any Loan Documents
or Collateral, and may seek assurances to its satisfaction from Secured Parties of their indemnification obligations against Claims that
could be incurred by Agent. Agent may refrain from any act until it has received such instructions or assurances, and shall not incur
liability to any Person by reason of so refraining. Instructions of Required Lenders shall be binding upon all Secured Parties, and no
Secured Party shall have any right of action whatsoever against Agent as a result of Agent acting or refraining from acting pursuant
to instructions of Required Lenders. Notwithstanding the foregoing, instructions by and consent of specific parties shall be required
to the extent provided in Section 14.1.1. In no event shall Agent be required to take any action that, in its opinion, is
contrary to Applicable Law or any Loan Documents or could subject any Agent Indemnitee to personal liability.

 

12.2.            Agreements
Regarding Collateral and Borrower Materials.

 

12.2.1.      Lien
Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien with respect to any Collateral (a) upon Full
Payment of the Obligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset
Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate
without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) subject to Section 14.1,
with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien
entitled to priority hereunder. Agent shall have no obligation to assure that any Collateral exists or is owned by an Obligor, or is
cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled
to any particular priority, nor to exercise any duty of care with respect to any Collateral.

 

12.2.2.      Possession
of Collateral. Agent and Secured Parties appoint each Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting
Liens in any Collateral held or controlled by such Lender, to the extent such Liens are perfected by possession or control. If any Lender
obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such
Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions.

 

12.2.3.      Reports.
Agent shall promptly provide to Lenders, when complete, any field audit, examination or report prepared for Agent with respect to any
Obligor or Collateral (“Report”) and other Borrower Materials. Each Lender agrees (a) that Reports are not intended
to be comprehensive audits or examinations, and that Agent or any other Person performing an audit or examination will inspect only specific
information regarding the Obligations or Collateral and will rely significantly upon Obligors’ books, records and representations;
(b) that Agent makes no representation or warranty as to the accuracy or completeness of any Borrower Materials and shall not be
liable for any information contained in or omitted from any Borrower Materials, including any Report; and (c) to keep all Borrower
Materials confidential and strictly for such Lender’s internal use, not to distribute any Report or other Borrower Materials (or
the contents thereof) to any Person (except to such Lender’s Participants, attorneys and accountants), and to use all Borrower
Materials solely for administration of the Obligations. Each Lender shall indemnify and hold harmless Agent and any other Person preparing
a Report from any action such Lender may take as a result of or any conclusion it may draw from any Borrower Materials, as well as from
any Claims arising as a direct or indirect result of Agent furnishing same to such Lender.

 

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12.3.            Reliance
By Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any certification, notice or other communication
(including those by telephone, telex, telegram, telecopy or e-mail) believed by it to be genuine and correct and to have been signed,
sent or made by the proper Person. Agent shall have a reasonable and practicable amount of time to act upon any instruction, notice or
other communication under any Loan Document, and shall not be liable for any delay in acting.

 

12.4.            Action
Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any
conditions in Section 6, unless it has received written notice from a Borrower or Required Lenders specifying the occurrence and
nature thereof. If any Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify
Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Loan Documents or
with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations, or exercise
any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other dispositions of Collateral,
or to assert any rights relating to any Collateral.

 

12.5.            Ratable
Sharing. If any Lender obtains any payment or reduction of any Obligation, whether through set-off or otherwise, in excess of
its share of such Obligation, determined in accordance with each Lender’s Applicable Percentage of such Obligation (or in accordance
with Section 5.6.2, as applicable), such Lender shall forthwith purchase from Agent and the other Lenders such participations in
the affected Obligation as are necessary to share the excess payment or reduction in accordance with each Lender’s Applicable Percentage
thereof (or in accordance with Section 5.6.2, as applicable). If any of such payment or reduction is thereafter recovered from the
purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest.
Notwithstanding the foregoing, if a Defaulting Lender obtains a payment or reduction of any Obligation, it shall immediately turn over
the amount thereof to Agent for application under Section 4.2.2 and it shall provide a written statement to Agent describing the
Obligation affected by such payment or reduction. No Lender shall set off against any Dominion Account without Agent’s prior consent.

 

12.6.            Indemnification.
EACH SECURED PARTY SHALL INDEMNIFY AND HOLD HARMLESS AGENT INDEMNITEES TO THE EXTENT NOT REIMBURSED BY OBLIGORS, ON A PRO RATA BASIS,
AGAINST ALL CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY SUCH INDEMNITEE, PROVIDED THAT ANY CLAIM AGAINST AN AGENT INDEMNITEE
RELATES TO OR ARISES FROM ITS ACTING AS OR FOR AGENT (IN THE CAPACITY OF AGENT). In Agent’s discretion, it may reserve for
any Claims made against an Agent Indemnitee, and may satisfy any judgment, order or settlement relating thereto, from proceeds of Collateral
prior to making any distribution of Collateral proceeds to Secured Parties. If Agent is sued by any receiver, trustee or other Person
for any alleged preference or fraudulent transfer, then any monies paid by Agent in settlement or satisfaction of such proceeding, together
with all interest, costs and expenses (including attorneys’ fees) incurred in the defense of same, shall be promptly reimbursed
to Agent by each Lender to the extent of its Applicable Percentage. Notwithstanding anything to the contrary set forth herein, no Indemnitee
shall be entitled to indemnification from any Lender for a claim that is directly and solely attributable to the gross negligence or
willful misconduct of such Indemnitee.

 

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12.7.            Limitation
on Responsibilities of Agent. Agent shall not be liable to any Secured Party for any action taken or omitted to be taken under
the Loan Documents, except for losses directly and solely caused by Agent’s gross negligence or willful misconduct. Agent does
not assume any responsibility for any failure or delay in performance or any breach by any Obligor, Lender or other Secured Party of
any obligations under the Loan Documents. Agent does not make any express or implied representation, warranty or guarantee to Secured
Parties with respect to any Obligations, Collateral, Loan Documents or Obligor. No Agent Indemnitee shall be responsible to Secured Parties
for any recitals, statements, information, representations or warranties contained in any Loan Documents or Borrower Materials; the execution,
validity, genuineness, effectiveness or enforceability of any Loan Documents; the genuineness, enforceability, collectibility, value,
sufficiency, location or existence of any Collateral, or the validity, extent, perfection or priority of any Lien therein; the validity,
enforceability or collectibility of any Obligations; or the assets, liabilities, financial condition, results of operations, business,
creditworthiness or legal status of any Obligor or Account Debtor. No Agent Indemnitee shall have any obligation to any Secured Party
to ascertain or inquire into the existence of any Default or Event of Default, the observance by any Obligor of any terms of the Loan
Documents, or the satisfaction of any conditions precedent contained in any Loan Documents. Agent shall not be responsible or have any
liability for, or have any duty to ascertain, inquire into, monitor the list or identities of, or enforce, compliance with the provisions
hereof relating to Competitors. Without limiting the generality of the foregoing, Agent shall not (x) be obligated to ascertain,
monitor or inquire as to whether any Lender (other than a Lender which is an Affiliate of Agent) or Participant (other than a Participant
which is an Affiliate of Agent) or prospective Lender or Participant (other than a prospective Lender or a Participant which is an Affiliate
of Agent) is a Competitor or (y) have any liability with respect to or arising out of any assignment or participation of Loans,
or disclosure of confidential information, to any Competitor.

 

12.8.            Successor
Agent and Co-Agents.

 

12.8.1.      Resignation;
Successor Agent. Subject to the appointment and acceptance of a successor Agent as provided below, Agent may resign at any time by
giving at least 30 days written notice thereof to Lenders and Borrower Agent. Upon receipt of such notice, Required Lenders shall have
the right to appoint a successor Agent which shall be (a) a Lender or an Affiliate of a Lender; or (b) a financial institution
reasonably acceptable to Required Lenders and (provided no Default or Event of Default exists) Borrower Agent. If no successor agent
is appointed prior to the effective date of Agent’s resignation, then Agent may appoint a successor agent that is a financial institution
acceptable to it, which shall be a Lender unless no Lender accepts the role. Upon acceptance by a successor Agent of its appointment
hereunder, such successor Agent shall thereupon succeed to and become vested with all the powers and duties of the retiring Agent without
further act, and the retiring Agent shall be discharged from its duties and obligations hereunder but shall continue to have the benefits
of the indemnification set forth in Sections 12.6 and 14.2. Notwithstanding any Agent’s resignation, the provisions
of this Section 12 shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it
while Agent. Any successor to Wynnefield by merger or acquisition of stock or this loan shall continue to be Agent hereunder without
further act on the part of any Secured Party or Obligor.

 

12.8.2.      Co-Collateral
Agent. If necessary or appropriate under Applicable Law, Agent may appoint a Person to serve as a co-collateral agent or separate
collateral agent under any Loan Document. Each right and remedy intended to be available to Agent under the Loan Document shall also
be vested in such agent. Secured Parties shall execute and deliver any instrument or agreement that Agent may request to effect such
appointment. If the agent shall die, dissolve, become incapable of acting, resign or be removed, then all the rights and remedies of
such agent, to the extent permitted by Applicable Law, shall vest in and be exercised by Agent until appointment of a new agent.

 

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12.9.            Due
Diligence and Non-Reliance. Each Lender acknowledges and agrees that it has, independently and without reliance upon Agent or
any other Lenders, and based upon such documents, information and analyses as it has deemed appropriate, made its own credit analysis
of each Obligor and its own decision to enter into this Agreement and to fund Loans hereunder. Each Secured Party has made such inquiries
as it feels necessary concerning the Loan Documents, Collateral and Obligors. Each Secured Party acknowledges and agrees that the other
Secured Parties have made no representations or warranties concerning any Obligor, any Collateral or the legality, validity, sufficiency
or enforceability of any Loan Documents or Obligations. Each Secured Party will, independently and without reliance upon any other Secured
Party, and based upon such financial statements, documents and information as it deems appropriate at the time, continue to make and
rely upon its own credit decisions in making Loans and in taking or refraining from any action under any Loan Documents. Except for notices,
reports and other information expressly requested by a Lender, Agent shall have no duty or responsibility to provide any Secured Party
with any notices, reports or certificates furnished to Agent by any Obligor or any credit or other information concerning the affairs,
financial condition, business or Properties of any Obligor (or any of its Affiliates) which may come into possession of Agent or its
Affiliates.

 

12.10.          Remittance
of Payments and Collections.

 

12.10.1.    Remittances
Generally. All payments by any Lender to Agent shall be made by the time and on the day set forth in this Agreement, in immediately
available funds. If no time for payment is specified or if payment is due on demand by Agent and request for payment is made by Agent
by 11:00 a.m. on a Business Day, payment shall be made by Lender not later than 2:00 p.m. on such day, and if request is made
after 11:00 a.m., then payment shall be made by 11:00 a.m. on the next Business Day. Payment by Agent to any Secured Party shall
be made by wire transfer, in the type of funds received by Agent. Any such payment shall be subject to Agent’s right of offset
for any amounts due from such payee under the Loan Documents.

 

12.10.2.    Failure
to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear
interest, from the due date until paid in full, at the rate determined by Agent as customary for interbank compensation for two Business
Days and thereafter at the Default Rate. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured
Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.

 

12.10.3.    Recovery
of Payments. If Agent pays an amount to a Secured Party in the expectation that a related payment will be received by Agent from
an Obligor and such related payment is not received, then Agent may recover such amount from the Secured Party. If Agent determines that
an amount received by it must be returned or paid to an Obligor or other Person pursuant to Applicable Law or otherwise, then, notwithstanding
any other term of any Loan Document, Agent shall not be required to distribute such amount to any Secured Party. If any amounts received
and applied by Agent to any Obligations are later required to be returned by Agent pursuant to Applicable Law, each Lender shall pay
to Agent, on demand, such Lender’s Applicable Percentage of the amounts required to be returned.

 

12.11.          Individual
Capacities. To the extent Wynnefield is a Lender, Wynnefield shall have the same rights and remedies under the Loan Documents
as any other Lender, and the terms “Lenders,” “Required Lenders,” or any similar term shall include Wynnefield
in its capacity as a Lender. Agent, Lenders and their Affiliates may lend money to, act as financial or other advisor to, and generally
engage in any kind of business with, Obligors and their Affiliates, as if they were not Agent or Lenders hereunder, without any duty
to account therefor to any Secured Party. In their individual capacities, Agent, Lenders and their Affiliates may receive information
regarding Obligors, their Affiliates and their Account Debtors (including information subject to confidentiality obligations), and shall
have no obligation to provide such information to any Secured Party.

 

12.12.          Titles.
Each Lender, other than Wynnefield, that is designated (on the cover page of this Agreement or otherwise) by Wynnefield as an “Arranger,”
 “Bookrunner” or “Agent” of any type shall have no right, power or duty under any Loan Documents other than those
applicable to all Lenders, and shall in no event have any fiduciary duty to any Secured Party.

 

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12.13.          Certain
ERISA Matters

 

12.13.1.     Lender
Representations. Each Lender represents and warrants, as of the date it became a Lender party hereto, and covenants, from the date
it became a Lender party hereto to the date it ceases being a Lender party hereto, for the benefit of, Agent and not, for the avoidance
of doubt, to or for the benefit of the Loan Parties, that at least one of the following is and will be true: (a) Lender is not using
 "plan assets" (within the meaning of ERISA Section 3(42) or otherwise) of one or more Benefit Plans with respect to Lender's
entrance into, participation in, administration of and performance of the Standby Term Loans, Standby Term Loan Commitments or Loan Documents;
(b) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined
by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company
general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38
(a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions
determined by in-house asset managers), is applicable with respect to Lender's entrance into, participation in, administration of and
performance of the Standby Term Loans, Standby Term Loan Commitments and Loan Documents; (c) (i) Lender is an investment fund
managed by a "Qualified Professional Asset Manager" (within the meaning of Part VI of PTE 84-14), (ii) such Qualified
Professional Asset Manager made the investment decision on behalf of Lender to enter into, participate in, administer and perform the
Standby Term Loans, Standby Term Loan Commitments and Loan Documents, (iii) the entrance into, participation in, administration
of and performance of the Standby Term Loans, Standby Term Loan Commitments and Loan Documents satisfies the requirements of sub-sections
(b) through (g) of Part I of PTE 84-14, and (iv) to the best knowledge of Lender, the requirements of subsection
(a) of Part I of PTE 84-14 are satisfied with respect to Lender's entrance into, participation in, administration of and performance
of the Standby Term Loans, Standby Term Loan Commitments and Loan Documents; or (d) such other representation, warranty and covenant
as may be agreed in writing between Agent, in its discretion, and Lender.

 

12.13.2.     Further
Lender Representation. Unless Section 12.13.1(a) or (d) is true with respect to a Lender, such Lender
further represents and warrants, as of the date it became a Lender hereunder, and covenants, from the date it became a Lender to the
date it ceases to be a Lender hereunder, for the benefit of, Agent and not, for the avoidance of doubt, to or for the benefit of any
Loan Party, that Agent is not a fiduciary with respect to the assets of such Lender involved in its entrance into, participation in,
administration of and performance of the Standby Term Loans, Standby Term Loan Commitments and Loan Documents (including in connection
with the reservation or exercise of any rights by Agent under any Loan Document).

 

12.14.          [Reserved].

 

12.15.          No
Third Party Beneficiaries. THIS SECTION 12 IS AN AGREEMENT SOLELY AMONG SECURED PARTIES AND AGENT, AND SHALL SURVIVE FULL
PAYMENT OF THE OBLIGATIONS. THIS SECTION 12 DOES NOT CONFER ANY RIGHTS OR BENEFITS UPON BORROWERS OR ANY OTHER PERSON, AS BETWEEN
OBLIGORS AND AGENT, ANY ACTION THAT AGENT MAY TAKE UNDER ANY LOAN DOCUMENTS OR WITH RESPECT TO ANY OBLIGATIONS SHALL BE CONCLUSIVELY
PRESUMED TO HAVE BEEN AUTHORIZED AND DIRECT BY SECURED PARTIES.

 

Section 13.     BENEFIT
OF AGREEMENT; ASSIGNMENTS

 

13.1.            Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of Obligors, Agent, Lenders, Secured Parties, and
their respective successors and assigns, except that (a) no Obligor shall have the right to assign its rights or delegate its obligations
under any Loan Documents; and (b) any assignment by a Lender must be made in compliance with Section 13.3. Agent may
treat the Person which made any Loan as the owner thereof for all purposes until such Person makes an assignment in accordance with Section 13.3.
Any authorization or consent of a Lender shall be conclusive and binding on any subsequent transferee or assignee of such Lender.

 

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13.2.            Participations.

 

13.2.1.       Permitted
Participants; Effect. Subject to Section 13.3.3, any Lender may sell to a financial institution (“Participant”)
a participating interest in the rights and obligations of such Lender under any Loan Documents; provided, that no Lender shall sell any
participating interest to any Competitor without the prior written consent of Borrower Agent. Despite any sale by a Lender of participating
interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, it shall remain solely responsible
to the other parties hereto for performance of such obligations, it shall remain the holder of its Standby Term Loans and Standby Term
Loan Commitments for all purposes, all amounts payable by Obligors shall be determined as if it had not sold such participating interests,
and Obligors and Agent shall continue to deal solely and directly with such Lender in connection with the Loan Documents. Each Lender
shall be solely responsible for notifying its Participants of any matters under the Loan Documents, and Agent and the other Lenders shall
not have any obligation or liability to any such Participant. A Participant shall not be entitled to the benefits of Section 5.9
unless Borrower Agent agrees otherwise in writing and such Participant shall not be entitled to receive any greater payment under
Section 5.9 than its participating Lender would have been entitled to receive.

 

13.2.2.       Voting
Rights. Each Lender shall retain the sole right to approve, without the consent of any Participant, any amendment, waiver or other
modification of a Loan Document other than that which forgives principal, interest or fees, reduces the stated interest rate or fees
payable with respect to any Standby Term Loan or Standby Term Loan Commitment in which such Participant has an interest, postpones the
Standby Term Loan Maturity Date or any date fixed for any regularly scheduled payment of principal, interest or fees on such Standby
Term Loan or Standby Term Loan Commitment, or releases any Borrower, Guarantor or substantially all Collateral.

 

13.2.3.       Participant
Register. Each Lender that sells a participation shall, acting as a non-fiduciary agent of Borrowers (solely for tax purposes), maintain
a register in which it enters the Participant's name, address and interest in Standby Term Loan Commitments and Loans (and stated interest).
Entries in the register shall be conclusive, absent manifest error, and such Lender shall treat each Person recorded in the register
as the owner of the participation for all purposes, notwithstanding any notice to the contrary. No Lender shall have an obligation to
disclose any information in such register except to the extent necessary to establish that a Participant's interest is in registered
form under the Code.

 

13.2.4.       Benefit
of Set-Off. Obligors agree that each Participant shall have a right of set-off in respect of its participating interest to the same
extent as if such interest were owing directly to a Lender, and each Lender shall also retain the right of set-off with respect to any
participating interests sold by it. By exercising any right of set-off, a Participant agrees to share with Lenders all amounts received
through its set-off, in accordance with Section 12.5 as if such Participant were a Lender.

 

13.3.            Assignments.

 

13.3.1.       Permitted
Assignments. A Lender may assign to an Eligible Assignee any of its rights and obligations under the Loan Documents, as long as (a) each
assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents
and, in the case of a partial assignment, is in a minimum principal amount of $10,000,000 (unless otherwise agreed by Agent in its discretion)
and integral multiples of $500,000 in excess of that amount; (b) except in the case of an assignment in whole of a Lender’s
rights and obligations, the aggregate amount of the Standby Term Loan Commitments retained by the transferor Lender is at least $10,000,000
(unless otherwise agreed by Agent in its discretion); and (c) the parties to each such assignment shall execute and deliver to Agent,
for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign
any rights under the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank;
provided, however, that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge
or assignee for such Lender as a party hereto.

 

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13.3.2.       Effect;
Effective Date. Upon delivery to Agent of an assignment notice in the form of Exhibit B and a processing fee of $3,500
(unless otherwise agreed by Agent in its discretion), the assignment shall become effective as specified in the notice, if it complies
with this Section 13.3. From such effective date, the Eligible Assignee shall for all purposes be a Lender under the Loan
Documents, and shall have all rights and obligations of a Lender thereunder. Upon consummation of an assignment, the transferor Lender,
Agent and Borrowers shall make appropriate arrangements for issuance of replacement and/or new notes, if applicable. The transferee Lender
shall comply with Section 5.10 and deliver, upon request, an administrative questionnaire satisfactory to Agent.

 

13.3.3.       Certain
Assignees. No assignment or participation may be made to an Obligor, Affiliate of an Obligor, Defaulting Lender or natural person.
Agent shall have no obligation to determine whether any assignee is permitted under the Loan Documents. Any assignment by a Defaulting
Lender shall be effective only upon payment by the Eligible Assignee or Defaulting Lender to Agent of an aggregate amount sufficient,
upon distribution (through direct payment, purchases of participations or other compensating actions as Agent deems appropriate), to
satisfy all funding and payment liabilities then owing by the Defaulting Lender hereunder. If an assignment by a Defaulting Lender shall
become effective under Applicable Law for any reason without compliance with the foregoing sentence, then the assignee shall be deemed
a Defaulting Lender for all purposes until such compliance occurs.

 

13.3.4.       Register.
Agent, acting as a non-fiduciary agent of Obligors (solely for tax purposes), shall maintain (a) a copy of each Assignment and Acceptance
delivered to it, and (b) a register for recordation of the names, addresses and Standby Term Loan Commitments of, and the Standby
Term Loans and interest owing to, each Lender. Entries in the register shall be conclusive, absent manifest error, and Obligors, Agent
and Lenders shall treat each lender recorded in such register as a Lender for all purposes under the Loan Documents, notwithstanding
any notice to the contrary. Agent may choose to show only one Borrower as the borrower in the register, without any effect on the liability
of any Obligor with respect to the Obligations. The register shall be available for inspection by Obligors or any Lender, from time to
time upon reasonable notice.

 

13.4.            Replacement
of Certain Lenders. If a Lender (a) fails to give its consent to any amendment, waiver or action for which consent of all
Lenders was required and Required Lenders consented, or (b) is a Defaulting Lender, then, in addition to any other rights and remedies
that any Person may have, Agent or Borrower Agent may, by notice to such Lender within 120 days after such event, require such Lender
to assign all of its rights and obligations under the Loan Documents to Eligible Assignee(s), pursuant to appropriate Assignment and
Acceptance(s), within 20 days after the notice. Agent is irrevocably appointed as attorney-in-fact to execute any such Assignment and
Acceptance if the Lender fails to execute it. Such Lender shall be entitled to receive, in cash, concurrently with such assignment, all
amounts owed to it under the Loan Documents through the date of assignment.

 

Section 14.     THE
GUARANTEE

 

14.1.            Guarantee.
The Guarantors hereby, jointly and severally, guarantee to each Lender and Agent and their respective successors and permitted assigns
the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Obligations. The Guarantors hereby
further agree that if the Borrowers shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any
of the obligations, the Guarantors will promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension
of time of payment or renewal of any of the obligations, the same will be promptly paid in full when due (whether at extended maturity,
by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 

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14.2.            Obligations
Unconditional. The obligations of the Guarantors under Section 14.1 are absolute and unconditional irrespective of
the value, genuineness, validity, regularity or enforceability of this Agreement, the other Loan Documents or any other agreement or
instrument referred to herein or therein, or any substitution, release or exchange of any other guarantee of or security for any of the
obligations, and, to the fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever that might otherwise
constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Section 14.2 that
the obligations of the Guarantors hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the
generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability
of the Guarantors hereunder, which shall remain absolute and unconditional as described above:

 

(i)            at
any time or from time to time, without notice to such Guarantors, the time for any performance of or compliance with any of the Obligations
shall be extended, or such performance or compliance shall be waived;

 

(ii)          any
of the acts mentioned in any of the provisions hereof or of the other Loan Documents or any other agreement or instrument referred to
herein or therein shall be done or omitted;

 

(iii)         the
maturity of any of the Obligations shall be accelerated, or any of the Obligations shall be modified, supplemented or amended in any
respect, or any right hereunder or under the other Loan Documents or any other agreement or instrument referred to herein or therein
shall be waived or any other guarantee of any of the Obligations or any security therefor shall be released or exchanged in whole or
in part or otherwise dealt with; or

 

(iv)         any
lien or security interest granted to, or in favor of, AgenT or any Lender or Lenders as security for any of the Obligations shall fail
to be perfected.

 

Each
Guarantor hereby expressly waives diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement
that Agent or any Lender exhaust any right, power or remedy or proceed against Borrowers or any other Guarantor hereunder or under the
other Loan Documents or any other agreement or instrument referred to herein or therein, or against any other person under any other
guarantee of, or security for, any of the Obligations, and hereby waive the benefits of division and discussion.

 

14.3.            Reinstatement.
The obligations of the Guarantors under this Section 14 shall be automatically reinstated if and to the extent that for any reason
any payment by or on behalf of any Borrower in respect of the Obligations is rescinded or must be otherwise restored by any holder of
any of the Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, and each Guarantor agrees
that it will indemnify Agent and each Lender on demand for all reasonable costs and expenses (including fees and expenses of counsel)
incurred by Agent or any Lender in connection with such rescission or restoration, including any such costs and expenses incurred in
defending against any claim alleging that such payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy,
insolvency or similar law.

 

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14.4.            Subrogation.
Until Full Payment of the Obligations, each of the Guarantors hereby waives all rights of subrogation or contribution, whether arising
by contract or operation of law (including, without limitation, any such right arising under the bankruptcy code, as amended) or otherwise
by reason of any payment by it pursuant to the provisions of this Section 14 and further agrees with each Borrower for the benefit
of each creditor of such Borrower (including Agent and each Lender) that any such payment by it shall constitute a contribution of capital
by such Guarantor to such Borrower.

 

14.5.            Remedies.
The Guarantors agree that, as between the Guarantors and the Lenders, the Obligations of Borrowers hereunder may be declared to be forthwith
due and payable as provided in Section 11.2 (and shall be deemed to have become automatically due and payable in the circumstances
provided in Section 11.2) for purposes of Section 14.1 notwithstanding any stay, injunction or other prohibition
preventing such declaration (or such obligations from becoming automatically due and payable) as against Borrowers and that, in the event
of such declaration (or such obligations being deemed to have become automatically due and payable), such Obligations (whether or not
due and payable by Borrowers) shall forthwith become due and payable by the Guarantor for purposes of Section 14.1.

 

14.6.            Instrument
for the Payment of Money. Each of the Guarantors hereby acknowledges that the guarantee in this Section 14 constitutes an
instrument for the payment of money only, and consents and agrees that Agent or any Lender, at its sole option, in the event of a dispute
by such Guarantor in the payment of any moneys due hereunder, shall have the right to summary judgment or such other expedited procedure
as may be available for a suit on a note or other instrument for the payment of money only.

 

14.7.            Continuing
Guarantee. The guarantee in this Section 14 is a continuing guarantee and shall apply to all Obligations whenever
arising.

 

14.8.            General
Limitation on Amount of Obligations Guaranteed. In any action or proceeding involving any state or non-U.S. corporate law, or
any state or federal or non-U.S. bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if
the obligations of the Guarantors under Section 14.1 would otherwise be held or determined to be void, invalid or unenforceable,
or subordinated to the claims of any other creditors, on account of the amount of its liability under Section 14.1, then, notwithstanding
any other provision hereof to the contrary, the amount of such liability shall, without any further action by the Guarantors, any Lender,
Agent or other Person, be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated
to the claims of other creditors as determined in such action or proceeding.

 

14.9.            Joint
Enterprise. Each Guarantor acknowledges that (a) the Obligors’ business is a mutual and collective enterprise, and
the successful operation of each Obligor is dependent upon the successful performance of the integrated group and (b) such Guarantor
shall derive direct and indirect economic and other benefits from the establishment by the Secured Parties of the credit facility under
this Agreement in favor of Borrowers.

 

14.10.            Subordination.
Each Borrower and each Guarantor hereby subordinates any claims, including any right of payment, subrogation, contribution and indemnity
that it may have at any time against any other Obligor, howsoever arising, to the Full Payment of the Obligations.

 

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Section 15.     MISCELLANEOUS

 

15.1.            Consents,
Amendments and Waivers.

 

15.1.1.       Amendment.
No modification of any Loan Document, including any extension or amendment of a Loan Document or any waiver of a Default or Event of
Default, shall be effective without the prior written agreement of Agent (with the consent of Required Lenders) and each Obligor party
to such Loan Document; provided, however, that

 

(a)            without
the prior written consent of Agent, no modification shall be effective with respect to any provision in a Loan Document that relates
to any rights, duties or discretion of Agent;

 

(b)            [reserved];

 

(c)            without
the prior written consent of each affected Lender, including a Defaulting Lender, no modification shall be effective that would (i) increase
the Standby Term Loan Commitment of such Lender; (ii) reduce the amount of, or waive or delay payment of, any principal, interest
or fees payable to such Lender (except as provided in Section 4.2); (iii) Standby Term Loan Maturity Date applicable
to such Lender’s Obligations; or (iv) amend this clause (c);

 

(d)            [reserved];

 

(e)            [reserved];
and

 

(f)             without
the prior written consent of all Lenders (except any Defaulting Lender), no modification shall be effective that would (i) alter
Section 5.6.2, 7.1 (except to add Collateral) or 15.1.1; (ii) amend the definitions of the terms “Applicable
Percentage” or “Required Lenders”; (iii) release all or substantially all of the Collateral; (iv) subordinate
the Liens in favor of Agent securing the Obligations to Liens in favor of any other Person (other than (x) Purchase Money Liens
securing Permitted Purchase Money Debt, and (y) Liens securing obligations with respect to Capital Leases permitted by Section 10.2.1(b),
which Liens do not cover more than the property subject to the applicable Capital Leases); or (v) except in connection with a merger,
amalgamation, disposition or similar transaction expressly permitted hereby, release any Obligor from liability for any Obligations.

 

15.1.2.       Limitations.
The agreement of Obligors shall not be necessary to the effectiveness of any modification of a Loan Document that deals solely with the
rights and duties of Lenders and/or Agent as among themselves. Any waiver or consent granted by Agent or Lenders hereunder shall be effective
only if in writing and only for the matter specified.

 

15.1.3.       Payment
for Consents. No Obligor will, directly or indirectly, pay any remuneration or other thing of value, whether by way of additional
interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with
any modification of any Loan Documents, unless such remuneration or value is concurrently paid, on the same terms, to all Lenders providing
their consent, in accordance with each such Lender’s Applicable Percentage.

 

15.2.            Indemnity.
EACH OBLIGOR SHALL INDEMNIFY AND HOLD HARMLESS THE INDEMNITEES AGAINST ANY CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY
INDEMNITEE, INCLUDING CLAIMS ASSERTED BY ANY OTHER OBLIGOR OR OTHER PERSON OR ARISING FROM THE NEGLIGENCE OF AN INDEMNITEE. In no
event shall any party to a Loan Document have any obligation thereunder to indemnify or hold harmless an Indemnitee with respect to a
Claim that is determined in a final, non-appealable judgment by a court of competent jurisdiction to result from the gross negligence
or willful misconduct of such Indemnitee.

 

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15.3.            Notices
and Communications.

 

(a)            Notice
Address. Subject to Section 4.1.3, all notices and other communications by or to a party hereto shall be in writing and
shall be given to any Obligor, at Borrower’s address shown on the signature pages hereof, and to any other Person at its address
shown on the signature pages hereof (or, in the case of a Person who becomes a Lender after the Effective Date, at the address shown
on its Assignment and Acceptance), or at such other address as a party may hereafter specify by notice in accordance with this Section 14.3.
Each communication shall be effective only (a) if given by facsimile transmission, when transmitted to the applicable facsimile
number, if confirmation of receipt is received; (b) if given by mail, three Business Days after deposit in the U.S. mail, with first-class
postage pre-paid, addressed to the applicable address; or (c) if given by personal delivery, when duly delivered to the notice address
with receipt acknowledged. Notwithstanding the foregoing, no notice to Agent pursuant to Section 2.1.4, 4.1.1 or 5.3.3
shall be effective until actually received by the individual to whose attention at Agent such notice is required to be sent. Any
written communication that is not sent in conformity with the foregoing provisions shall nevertheless be effective on the date actually
received by the noticed party. Any notice received by Borrower Agent shall be deemed received by all Obligors.

 

(b)            Electronic
Communications; Voice Mail. Any Loan Document, Borrower Materials and other information, notice, certificate, request, statement,
disclosure or authorization related to this Agreement (collectively, “Communications”), including Communications required
to be in writing, may, if agreed by the Bank, be in the form of an Electronic Record and may be executed using Electronic Signatures.
An Electronic Signature on or associated with a Communication shall be valid and binding on each Obligor and other party thereto to the
same extent as a manual, original signature, and any Communication entered into by Electronic Signature shall constitute their legal,
valid and binding obligations, enforceable to the same extent as if a manually executed original signature were delivered to the Bank.  
Any Communication may be executed in as many counterparts as necessary or convenient, including both paper and electronic counterparts,
but all such counterparts are one and the same Communication.  The parties may use or accept manually signed paper Communications
converted to electronic form (such as scanned into PDF), or electronically signed Communications converted into other formats, for transmission,
delivery and/or retention. Agent and Lenders may, at their option, create one or more copies of any Communication in the form of an imaged
Electronic Record (“Electronic Copy”), which shall be deemed created in the ordinary course of the Person’s
business, and destroy the original paper document.  All Communications in the form of an Electronic Record, including an Electronic
Copy, shall be considered an original for all purposes, and shall have the same legal effect, validity and enforceability as a paper
record.  Notwithstanding anything herein, Agent is under no obligation to accept an Electronic Signature in any form or in any format
unless expressly agreed by it pursuant to procedures approved by it; provided (a) if Agent has agreed to accept such Electronic
Signature, Agent and each Secured Party shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf
of an Obligor without further verification; and (b) upon the request by Agent or any Secured Party, an Electronic Signature shall
be promptly followed by a manually executed counterpart.  “Electronic Record” and “Electronic Signature”
are used herein as defined in by 15 USC §7006. Voice mail may not be used as effective notice under the Loan Documents.

 

(c)            [Reserved].

 

(d)            Non-Conforming
Communications. Agent and Lenders may rely upon any communications purportedly given by or on behalf of any Obligor even if they
were not made in a manner specified herein, were incomplete or were not confirmed, or if the terms thereof, as understood by the recipient,
varied from a later confirmation. Each Obligor shall indemnify and hold harmless each Indemnitee from any liabilities, losses, costs
and expenses arising from any electronic or telephonic communication purportedly given by or on behalf of an Obligor.

 

15.4.            Performance
of Obligors’ Obligations. Agent may, in its discretion at any time and from time to time, at Obligors’ expense, pay
any amount or do any act required of an Obligor under any Loan Documents or otherwise lawfully requested by Agent to (a) enforce
any Loan Documents or collect any Obligations; (b) protect, insure, maintain or realize upon any Collateral; or (c) defend
or maintain the validity or priority of Agent’s Liens in any Collateral, including any payment of a judgment, insurance premium,
warehouse charge, finishing or processing charge, or landlord claim, or any discharge of a Lien. All payments, costs and expenses (including
Extraordinary Expenses) of Agent under this Section shall be reimbursed to Agent by Borrowers, on demand, with interest from the
date incurred until paid in full, at the Default Rate. Any payment made or action taken by Agent under this Section shall be without
prejudice to any right to assert an Event of Default or to exercise any other rights or remedies under the Loan Documents.

 

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15.5.            Credit
Inquiries. Agent and Lenders may (but shall have no obligation) to respond to usual and customary credit inquiries from third
parties concerning any Obligor or Subsidiary.

 

15.6.            Severability.
Wherever possible, each provision of the Loan Documents shall be interpreted in such manner as to be valid under Applicable Law. If any
provision is found to be invalid under Applicable Law, it shall be ineffective only to the extent of such invalidity and the remaining
provisions of the Loan Documents shall remain in full force and effect.

 

15.7.            Cumulative
Effect; Conflict of Terms. The provisions of the Loan Documents are cumulative. The parties acknowledge that the Loan Documents
may use several limitations or measurements to regulate similar matters, and they agree that these are cumulative and that each must
be performed as provided. Except as otherwise provided in another Loan Document (by specific reference to the applicable provision of
this Agreement), if any provision contained herein is in direct conflict with any provision in another Loan Document, the provision herein
shall govern and control.

 

15.8.            Counterparts.
Any Loan Document may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall
constitute a single contract. This Agreement shall become effective when Agent has received counterparts bearing the signatures of all
parties hereto. Subject to the provisions of Section 15.3, Agent may (but shall have no obligation to) accept any signature, contract
formation or record-keeping through electronic means, which shall have the same legal validity and enforceability as manual or paper-based
methods, to the fullest extent permitted by Applicable Law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act, or any similar state law based on the Uniform Electronic Transactions
Act.

 

15.9.            Entire
Agreement. Time is of the essence with respect to all Loan Documents and Obligations. The Loan Documents constitute the entire
agreement, and supersede all prior understandings and agreements, among the parties relating to the subject matter thereof.

 

15.10.          Relationship
with Lenders. The obligations of each Lender hereunder are several, and no Lender shall be responsible for the obligations or
Standby Term Loan Commitments of any other Lender. Amounts payable hereunder to each Lender shall be a separate and independent debt.
It shall not be necessary for Agent or any other Lender to be joined as an additional party in any proceeding for such purposes. Nothing
in this Agreement and no action of Agent, Lenders or any other Secured Party pursuant to the Loan Documents or otherwise shall be deemed
to constitute Agent and any Secured Party to be a partnership, joint venture or similar arrangement, nor to constitute control of any
Obligor.

 

15.11.          No
Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated by any Loan Document, Obligors
acknowledge and agree that (a)(i) this credit facility and any related arranging or other services by Agent, any Lender, any of
their Affiliates or any arranger are arm’s-length commercial transactions between Obligors and such Person; (ii) Obligors
have consulted their own legal, accounting, regulatory and tax advisors to the extent they have deemed appropriate; and (iii) Obligors
are capable of evaluating, and understand and accept, the terms, risks and conditions of the transactions contemplated by the Loan Documents;
(b) each of Agent, Lenders, their Affiliates and any arranger is and has been acting solely as a principal and, except as expressly
agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for Obligors,
any of their Affiliates or any other Person, and has no obligation with respect to the transactions contemplated by the Loan Documents
except as expressly set forth therein; and (c) Agent, Lenders, their Affiliates and any arranger may be engaged in a broad range
of transactions that involve interests that differ from those of Obligors and their Affiliates, and have no obligation to disclose any
of such interests to Obligors or their Affiliates. To the fullest extent permitted by Applicable Law, each Obligor hereby waives and
releases any claims that it may have against Agent, Lenders, their Affiliates and any arranger with respect to any breach of agency or
fiduciary duty in connection with any transaction contemplated by a Loan Document.

 

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15.12.          Confidentiality.
Each of Agent and Lenders shall maintain the confidentiality of all Information (as defined below), except that Information may be disclosed
(a) to its Affiliates, and to its and their partners, directors, officers, employees, agents, advisors and representatives (provided
such Persons are informed of the confidential nature of the Information and instructed to keep it confidential); (b) to the extent
requested by any governmental, regulatory or self-regulatory authority purporting to have jurisdiction over it or its Affiliates; (c) to
the extent required by Applicable Law or by any subpoena or other legal process; (d) to any other party hereto; (e) in connection
with any action or proceeding relating to any Loan Documents or Obligations; (f) subject to an agreement containing provisions substantially
the same as this Section, to any Transferee or any actual or prospective party (or its advisors) to any swap, derivative or other transaction
under which payments are to be made by reference to an Obligor or Obligor's obligations; (g) to the extent such Information (i) becomes
publicly available other than as a result of a breach of this Section or (ii) is available to Agent, any Lender or any of their
Affiliates on a nonconfidential basis from a source other than Borrowers; or (h) with the consent of Borrower Agent. Notwithstanding
the foregoing, Agent and Lenders may publish or disseminate general information concerning this credit facility for league table, tombstone
and advertising purposes, and may use Obligors’ logos, trademarks or product photographs in advertising materials. As used herein,
 “Information” means all information received from an Obligor or Subsidiary relating to it or its business that is identified
as confidential when delivered. Any Person required to maintain the confidentiality of Information pursuant to this Section shall
be deemed to have complied with this Section if such Person exercises a degree of care similar to that which such Person accords
its own confidential information. Each of Agent and Lenders acknowledges that (i) Information may include material non-public information;
(ii) it has developed compliance procedures regarding the use of material non-public information; and (iii) it will handle
such material non-public information in accordance with Applicable Law.

 

15.13.          GOVERNING
LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, UNLESS OTHERWISE SPECIFIED, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS).

 

15.14.          Consent
to Forum. EACH OBLIGOR HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL OR STATE COURT SITTING IN OR WITH JURISDICTION
OVER NEW YORK, IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND AGREES THAT ANY SUCH PROCEEDING SHALL
BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH OBLIGOR IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE
REGARDING SUCH COURT’S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. EACH PARTY HERETO IRREVOCABLY CONSENTS
TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 14.3.1. Nothing herein shall limit the right of Agent or any
Lender to bring proceedings against any Obligor in any other court, nor limit the right of any party to serve process in any other manner
permitted by Applicable Law. Nothing in this Agreement shall be deemed to preclude enforcement by Agent of any judgment or order obtained
in any forum or jurisdiction.

 

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15.15.          Waivers
by Obligors. To the fullest extent permitted by Applicable Law, each Obligor waives (a) the right to trial by jury (which
Agent and each Lender hereby also waives) in any proceeding or dispute of any kind relating in any way to any Loan Documents, Obligations
or Collateral; (b) presentment, demand, protest, notice of presentment, default, non-payment, maturity, release, compromise, settlement,
extension or renewal of any commercial paper, accounts, documents, instruments, chattel paper and guaranties at any time held by Agent
on which an Obligor may in any way be liable, and hereby ratifies anything Agent may do in this regard; (c) notice prior to taking
possession or control of any Collateral; (d) any bond or security that might be required by a court prior to allowing Agent to exercise
any rights or remedies; (e) the benefit of all valuation, appraisement and exemption laws; (f) any claim against Agent or any
Lender, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual
damages) in any way relating to any Enforcement Action, Obligations, Loan Documents or transactions relating thereto; and (g) notice
of acceptance hereof. Each Obligor acknowledges that the foregoing waivers are a material inducement to Agent and Lenders entering into
this Agreement and that they are relying upon the foregoing in their dealings with Obligors. Each Obligor has reviewed the foregoing
waivers with its legal counsel and has knowingly and voluntarily waived its jury trial and other 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.

 

15.16.      Patriot
Act Notice.

 

15.16.1.          Agent
and Lenders hereby notify Obligors that pursuant to the Patriot Act, Agent and Lenders are required to obtain, verify and record information
that identifies each Obligor, including its legal name, address, tax ID number and other information that will allow Agent and Lenders
to identify it in accordance with the Patriot Act. Agent and Lenders will also require information regarding each personal guarantor,
if any, and may require information regarding Obligors’ management and owners, such as legal name, address, social security number
and date of birth. Borrowers shall, promptly upon request, provide all documentation and other information as Agent or any Lender may
request from time to time in order to comply with any obligations under any "know your customer," anti-money laundering or
other requirements of Applicable Law.

 

15.16.2.          If
(a) the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation made
after the date of this Agreement; (b) any change in the status of a UK Subsidiary after the date of this Agreement; (c) a proposed
assignment or transfer by a Lender of any of its rights and obligations under this Agreement to a party that is not a Lender prior to
such assignment or transfer; or (d) any law, regulation, applicable market guidance or internal policy in relation to the period
review and/or updating of customer information obliges the Agent or any Lender (or, in the case of paragraph (c) above, any prospective
new Lender) to comply with “know your customer” or similar identification procedures in circumstances where the necessary
information is not already available to it, each UK Subsidiary shall promptly upon the request of the Agent or any Lender supply, or
procure the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any
Lender) or any Lender (for itself or, in the case of the event described in paragraph (c) above, on behalf of any prospective new
Lender) in order for the Agent, such Lender or, in the case of the event described in paragraph (c) above, any prospective new Lender
to carry out and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable
laws and regulations pursuant to the transactions contemplated in the Loan Documents.

 

15.16.3.          Each
Lender shall promptly upon the request of the supply, or procure the supply of, such documentation and other evidence as is reasonably
requested by the Agent (for itself) in order for the Agent to carry out and be satisfied it has complied with all necessary “know
your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the
Loan Documents.

 

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15.17.          Canadian
Anti-Money Laundering Legislation.

 

(a)            Each
Obligor acknowledges that, pursuant to the Proceeds of Crime Act and other applicable anti-money laundering, anti-terrorist financing,
government sanction and “know your client” laws (collectively, including any guidelines or orders thereunder, “AML
Legislation”), the Lenders may be required to obtain, verify and record information regarding the Obligors and their respective
directors, authorized signing officers, direct or indirect shareholders or other Persons in control of the Obligors, and the transactions
contemplated hereby. Each Obligor shall promptly provide all such information, including supporting documentation and other evidence,
as may be reasonably requested by any Lender or any prospective assignee or participant of a Lender or any Agent, in order to comply
with any applicable AML Legislation, whether now or hereafter in existence.

 

(b)            If
the Agent has ascertained the identity of any Obligor or any authorized signatories of the Obligors for the purposes of applicable AML
Legislation, then the Agent:

 

(i)            shall
be deemed to have done so as an agent for each Lender, and this Agreement shall constitute a “written agreement” in such
regard between each Lender and the Agent within the meaning of the applicable AML Legislation; and

 

(ii)           shall
provide to each Lender copies of all information obtained in such regard without any representation or warranty as to its accuracy or
completeness.

 

Notwithstanding the preceding sentence and except
as may otherwise be agreed in writing, each of the Lenders agrees that neither the Agent nor any other Agent has any obligation to ascertain
the identity of the Obligors or any authorized signatories of the Obligors on behalf of any Lender, or to confirm the completeness or
accuracy of any information it obtains from any Obligor or any such authorized signatory in doing so.

 

15.18.          [Reserved].

 

15.19.          Acknowledgement
Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any
Hedging Agreement 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):

 

(a)            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.

 

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(b)            As
used in this Section 15.19, the following terms have the following meanings:

 

“BHC Act
Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with,
12 U.S.C. 1841(k)) of such party.

 

“Covered
Entity” means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in
accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted
in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted
in accordance with, 12 C.F.R. § 382.2(b).

 

“Default
Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81,
47.2 or 382.1, as applicable.

 

“QFC”
has 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).

 

15.20           Intercreditor
Agreement.

 

(a)            Each
Lender party hereto (i) understands, acknowledges and agrees that it (and each of its successors and assigns) and each other Lender
(and each of their successors and assigns) shall be bound by the Intercreditor Agreement, (ii) authorizes and directs Agent to enter
into the Intercreditor Agreement on its behalf, and (iii) agrees that any action taken by Agent pursuant to the Intercreditor Agreement
shall be binding upon such Lender.

 

(b)            The
provisions of this Section 15.20 are not intended to summarize or fully describe the provisions of the Intercreditor Agreement.
Reference must be made to the Intercreditor Agreement itself to understand all terms and conditions thereof. Each Lender is responsible
for making its own analysis and review of the Intercreditor Agreement and the terms and provisions thereof, and neither Agent nor any
of its Affiliates makes any representation to any Lender as to the sufficiency or advisability of the provisions contained in the Intercreditor
Agreement. A copy of the Intercreditor Agreement may be obtained from Agent.

 

(c)            The
Intercreditor Agreement is an agreement solely amongst the parties thereto (including their successors and assigns) and is acknowledged
and agreed to by the Obligors as party thereto. As more fully provided therein, the Intercreditor Agreement can only be amended by the
parties thereto in accordance with the provisions thereof.

 

(d)            In
the event of any conflict between this Agreement and the Intercreditor Agreement, the Intercreditor Agreement shall govern.

 

[Remainder of page intentionally
left blank; signatures begin on following page]

 

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IN WITNESS WHEREOF,
this Agreement has been executed and delivered as of the date set forth above.

 

	 	BORROWERS:
	 	 
	 	SUMMER INFANT, INC.
	 	 
	 	 
	 	By:	/s/
    Bruce Meier                       
	 	Name: Bruce
    Meier
	 	Title: Interim
    Chief Financial Officer

	 	Address: 1275
    Park East Drive
	 	 	Woonsocket,
    Rhode Island 02895
	 	 	Attn: Bruce Meier
	 	 	Telephone: 401-671-6572
	 	 	Email: Bruce.Meier@riveron.com

 

	 	SUMMER INFANT
    (USA), INC.
	 	 
	 	 
	 	By:	/s/
    Bruce Meier                       
	 	Name: Bruce
    Meier
	 	Title: Chief
    Financial Officer

	 	Address: 1275
    Park East Drive
	 	 	Woonsocket,
    Rhode Island 02895
	 	 	Attn: Bruce Meier
	 	 	Telephone: 401-671-6572
	 	 	Email: Bruce.Meier@riveron.com

 

     

     

    

 

	 	AGENT:
	 	 
	 	WYNNEFIELD
    CAPITAL, INC., as Agent
	 	 
	 	 
	 	By:	/s/
    Nelson Obus                
	 	Name: Nelson
    Obus
	 	Title: President

	 	Address: 450
    7th Avenue, Suite 509
	 	 	New York, NY
    10123
	 	 	Attn: Nelson Obus
	 	 	Telephone: 212-760-0814
	 	 	Email: nobus@wynnecap.com

 

	 	LENDER:
	 	 
	 	WYNNEFIELD
    PARTNERS SMALL CAP VALUE, LP I, as Lender
	 	 
	 	By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, its General Partner
	 	 
	 	 
	 	By:	/s/
    Nelson Obus                
	 	Name: Nelson
    Obus
	 	Title: Co-Managing
    Member

	 	Address: 450
    7th Avenue, Suite 509
	 	 	New York, NY
    10123
	 	 	Attn: Nelson Obus
	 	 	Telephone: 212-760-0814
	 	 	Email: nobus@wynnecap.com

 

	 	WYNNEFIELD
    PARTNERS SMALL CAP VALUE, L.P, as Lender
	 	 
	 	By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, its General Partner
	 	 
	 	 
	 	By:	/s/
    Nelson Obus                
	 	Name: Nelson
    Obus
	 	Title: Co-Managing
    Member

	 	Address: 450
    7th Avenue, Suite 509
	 	 	New York, NY
    10123
	 	 	Attn: Nelson Obus
	 	 	Telephone: 212-760-0814
	 	 	Email: nobus@wynnecap.com

 

     

     

    

 

Exhibit A

to

Loan and Security Agreement

 

ASSIGNMENT AND ACCEPTANCE

 

Reference is made to the
Loan and Security Agreement dated as of January 28, 2022, as amended (“Loan Agreement”), among SUMMER INFANT, INC.
and SUMMER INFANT (USA), INC. (collectively, “Borrowers”), the Guarantors party thereto from time
to time, WYNNEFIELD CAPITAL, INC., as agent (“Agent”) for the financial institutions from time to time
party to the Loan Agreement (“Lenders”), and such Lenders. Terms are used herein as defined in the Loan Agreement.

 

______________________________________
(“Assignor”) and _________________________ _____________ (“Assignee”) agree as follows:

 

1.            Assignor
hereby assigns to Assignee and Assignee hereby purchases and assumes from Assignor (a) a principal amount of $________ of Assignor’s
outstanding Standby Term Loans, and (b) the amount of $__________ of Assignor’s Standby Term Loan Commitment (which represents
____% of the total Standby Term Loan Commitments) (the foregoing items being, collectively, the “Assigned Interest”),
together with an interest in the Loan Documents corresponding to the Assigned Interest. This Agreement shall be effective as of the date
(“Effective Date”) indicated in the corresponding Assignment Notice delivered to Agent, provided such Assignment Notice
is executed by Assignor, Assignee, Agent and Borrower Agent, if applicable. From and after the Effective Date, Assignee hereby expressly
assumes, and undertakes to perform, all of Assignor’s obligations in respect of the Assigned Interest, and all principal, interest,
fees and other amounts which would otherwise be payable to or for Assignor’s account in respect of the Assigned Interest shall
be payable to or for Assignee’s account, to the extent such amounts accrue on or after the Effective Date.

 

2.            Assignor
(a) represents that as of the date hereof, prior to giving effect to this assignment, its Standby Term Loan Commitment is $__________,
the outstanding balance of its Standby Term Loans is $__________; (b) makes no representation or warranty and assumes no responsibility
with respect to any statements, warranties or representations made in or in connection with the Loan Agreement or the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan Agreement or any other instrument or document furnished pursuant
thereto, other than that Assignor is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest
is free and clear of any adverse claim; and (c) makes no representation or warranty and assumes no responsibility with respect to
the financial condition of Borrowers or the performance by Borrowers of their obligations under the Loan Documents. [Assignor is attaching
the Note[s] held by it and requests that Agent exchange such Note[s] for new Notes payable to Assignee [and Assignor].]

 

3.            Assignee
(a) represents and warrants that it is legally authorized to enter into this Assignment and Acceptance; (b) confirms that it
has received copies of the Loan Agreement and such other Loan Documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment and Acceptance; (c) agrees that it shall, independently and without reliance
upon Assignor and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions
in taking or not taking action under the Loan Documents; (d) confirms that it is an Eligible Assignee; (e) appoints and authorizes
Agent to take such action as agent on its behalf and to exercise such powers under the Loan Agreement as are delegated to Agent by the
terms thereof, together with such powers as are incidental thereto; (f) agrees that it will observe and perform all obligations
that are required to be performed by it as a “Lender” under the Loan Documents; and (g) represents and warrants that
the assignment evidenced hereby will not result in a non-exempt “prohibited transaction” under Section 406 of ERISA.

 

    A1 

     

    

 

4.            This
Agreement shall be governed by the laws of the State of New York. If any provision is found to be invalid under Applicable Law, it shall
be ineffective only to the extent of such invalidity and the remaining provisions of this Agreement shall remain in full force and effect.

 

5.            Each
notice or other communication hereunder shall be in writing, shall be sent by messenger, by telecopy or facsimile transmission, or by
first-class mail, shall be deemed given when sent and shall be sent as follows:

 

		(a)	If to Assignee, to the following address
                                            (or to such other address as Assignee may designate from time to time):

 

__________________________

__________________________

__________________________

 

		(b)	If to Assignor, to the following address
                                            (or to such other address as Assignor may designate from time to time):

 

__________________________

__________________________

__________________________

__________________________

 

Payments hereunder shall
be made by wire transfer of immediately available Dollars as follows:

 

If to Assignee, to the following
account (or to such other account as Assignee may designate from time to time):

 

______________________________

______________________________

ABA No._______________________

______________________________

Account No.____________________

Reference: _____________________

 

If to Assignor, to the following
account (or to such other account as Assignor may designate from time to time):

 

______________________________

______________________________

ABA No._______________________

______________________________

Account No.____________________

Reference: _____________________

 

    A2 

     

    

 

IN WITNESS WHEREOF,
this Assignment and Acceptance is executed as of _____________.

 

	 	 
	 	(“Assignee”)
	 	 
	 	By	 
	 	 	Title:
	 	 
	 	 
	 	(“Assignor”)
	 	 
	 	By	                          
	 	 	Title:

 

    A3 

     

    

 

ExhibIT
B

to

Loan and Security Agreement

 

ASSIGNMENT NOTICE

 

Reference is made to (1) the
Loan and Security Agreement dated as of January 28, 2022, as amended (“Loan Agreement”), among SUMMER INFANT, INC.
and SUMMER INFANT (USA), INC. (collectively, “Borrowers”), the Guarantors party thereto from time
to time, WYNNEFIELD CAPITAL, INC., as agent (“Agent”) for the financial institutions from time to time
party to the Loan Agreement (“Lenders”), and such Lenders; and (2) the Assignment and Acceptance dated as of
____________, 20__ (“Assignment Agreement”), between __________________ (“Assignor”) and ____________________
(“Assignee”). Terms are used herein as defined in the Loan Agreement.

 

Assignor hereby notifies
Borrowers and Agent of Assignor’s intent to assign to Assignee pursuant to the Assignment Agreement (a) a principal amount
of $________ of Assignor’s outstanding Standby Term Loans and (b) the amount of $__________ of Assignor’s Standby Term
Loan Commitment (which represents ____% of the total Standby Term Loan Commitments) (the foregoing items being, collectively, the “Assigned
Interest”), together with an interest in the Loan Documents corresponding to the Assigned Interest. This Agreement shall be
effective as of the date (“Effective Date”) indicated below, provided this Assignment Notice is executed by Assignor,
Assignee, Agent and Borrower Agent, if applicable. Pursuant to the Assignment Agreement, Assignee has expressly assumed all of Assignor’s
obligations under the Loan Agreement to the extent of the Assigned Interest, as of the Effective Date.

 

For purposes of the Loan
Agreement, Agent shall deem Assignor’s Standby Term Loan Commitment to be reduced by $_________, Assignee’s Standby Term
Loan Commitment to be increased by $_________.

 

The address of Assignee to
which notices and information are to be sent under the terms of the Loan Agreement is:

 

________________________

________________________

________________________

________________________

 

The address of Assignee to which payments are
to be sent under the terms of the Loan Agreement is shown in the Assignment and Acceptance.

 

This Notice is being delivered
to Borrowers and Agent pursuant to Section 13.3 of the Loan Agreement. Please acknowledge your acceptance of this Notice
by executing and returning to Assignee and Assignor a copy of this Notice.

 

    B1 

     

    

 

IN WITNESS WHEREOF,
this Assignment Notice is executed as of _____________.

 

	 	 
	 	(“Assignee”)
	 	 
	 	By	 
	 	 	Title:
	 	 
	 	 
	 	(“Assignor”)
	 	 
	 	By	                          
	 	 	Title:

 

ACKNOWLEDGED AND AGREED,

AS OF THE DATE SET FORTH ABOVE:

 

BORROWER AGENT:*

 

SUMMER INFANT (USA), INC.

 

	 	 
	By	                          	 
	 	Title:	 

 

* No signature required if Assignee is a Lender, U.S.-based Affiliate
of a Lender or Approved Fund, or if an Event of Default exists.

 

WYNNEFIELD CAPITAL, INC.,

as Agent

 

	 	 
	By	                          	 
	 	Title:	 

 

    B2 

     

    

 

SCHEDULE 1.1(a)

 

COMMITMENTS OF LENDERS

 

	Lender	 	Standby Term Loan Commitment	 	 	Applicable Percentage	 
	Wynnefield Partners Small
    Cap Value, LP I	 	$	3,000,000	 	 	 	60	%
	Wynnefield Partners Small Cap Value,
    LP	 	$	2,000,000	 	 	 	40	%
	TOTALS:	 	$	5,000,000	 	 	 	100	%Exhibit 10.2

 

CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS EXHIBIT,

MARKED BY [***], HAS BEEN OMITTED PURSUANT TO REGULATION S-K, ITEM 601(b)(10)

BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE
COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.

 

Execution
Version

AMENDMENT NO. 1 TO

THIRD AMENDED AND RESTATED LOAN AND SECURITY
AGREEMENT

 

This AMENDMENT NO. 1 TO THIRD
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is dated as of January 28, 2022 by and among
SUMMER INFANT, INC. (the “Company”) and SUMMER INFANT (USA), INC. (together with the Company,
 “Borrowers”), the guarantors from time to time party to the Loan Agreement referenced below (“Guarantors”,
and together with Borrowers, “Obligors”), BANK OF AMERICA, N.A., in its capacity as the sole existing “Lender”
under the Loan Agreement referenced below (“Sole Lender”), and BANK OF AMERICA, N.A., in its capacity as “Agent”
for the Lenders under the Loan Agreement referenced below (“Agent”).

 

R E C I T A L S:

 

WHEREAS, Obligors, Agent and
Sole Lender have previously entered into that certain Third Amended and Restated Loan and Security Agreement dated as of October 15,
2020 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), pursuant
to which Agent and Sole Lender have made certain loans and financial accommodations available to Borrowers;

 

WHEREAS, Borrowers have requested
that Agent and Sole Lender amend certain provisions of the Loan Agreement and provide certain other accommodations to Borrowers;

 

WHEREAS, notwithstanding that
Agent and Sole Lender are under no obligation to amend the Loan Agreement, Agent and Sole Lender are willing to make certain additional
financial accommodations as requested by Borrowers, such that Borrowers, Agent and Sole Lender have agreed to amend the Loan Agreement
and the other Loan Documents on the terms and subject to satisfaction of the conditions set forth in this Amendment; and

 

WHEREAS, each Obligor is entering
into this Amendment with the understanding and agreement that, except as specifically provided herein, none of Agent’s or any Lender’s
rights or remedies as set forth in the Loan Agreement and the other Loan Documents are being waived or modified by the terms of this Amendment.

 

NOW, THEREFORE, for and in
consideration of the premises and mutual agreements and covenants herein contained and for the purposes of setting forth the terms and
conditions of this Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties, intending to be bound, hereby agree as follows:

 

AGREEMENT

 

1.            Capitalized
Terms. Capitalized terms used herein which are defined in the Loan Agreement have the same meanings herein as therein, except
to the extent such terms are amended hereby.

 

2.            Acknowledgements
and Stipulations. To induce Agent and Sole Lender to enter into this Amendment, each Obligor acknowledges, stipulates and agrees
that:

 

(a)            Recitals
True and Correct. Each of the Recitals contained at the beginning of this Amendment is true and correct;

 

     

     

    

 

(b)            Obligations
Outstanding. Obligors hereby acknowledge and agree that, in accordance with the terms and conditions of the Loan Documents, each Obligor
is liable to Agent and Lenders for all of the Obligations, including, without limitation, (a) for all principal and accrued interest
owed under the Loan Documents, whether now due or hereafter accruing; and (b) for all fees, and all Extraordinary Expenses (including
reasonable attorneys’ fees and expenses) heretofore or hereafter incurred by Agent and/or any Lender in connection with the protection,
preservation, and enforcement by Agent and Lenders of its/their rights and remedies under the Loan Documents and/or this Amendment, including,
without limitation, the negotiation and preparation of this Amendment, and any of the other documents, instruments or agreements executed
in connection therewith;

 

(c)            No
Defense or Counterclaim. All of the Loans and other Obligations are not subject to any defense, deduction, offset or counterclaim
by Obligors to Lenders (and, to the extent any Obligor had any such defense, deduction, offset or counterclaim on the date hereof, the
same is hereby waived by each such Obligor in accordance with Section 6 below);

 

(d)            Loan
Documents Binding and Enforceable. The Loan Documents executed by Obligors are legal, valid and binding obligations enforceable against
each Obligor in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’ rights generally;

 

(e)            Liens
Valid. The Liens granted by Obligors to Agent, for the benefit of itself and the Lenders, in the Collateral are valid and duly perfected,
first-priority liens, subject only to any Permitted Liens;

 

(f)            Security
Interest Ratification. Each Obligor hereby ratifies, confirms and reaffirms that all security interests and Liens granted pursuant
to the Loan Documents secure and shall continue to secure the payment and performance of all of the Obligations and liabilities pursuant
to the Loan Documents, whether now existing or hereafter arising; and

 

(g)            Legal
Counsel. Prior to executing this Amendment, Obligors consulted with and had the benefit of advice of legal counsel of their own selection
and have relied upon the advice of such counsel, and in no part upon the representations of Agent or Sole Lender, or any counsel to Agent
or Sole Lender, concerning the legal effects of this Amendment or any provision hereof.

 

3.            Amendments
to the Loan Agreement. Subject to the satisfaction of the terms and conditions set forth in this Amendment, the Obligors, Sole
Lender and Agent agree that the Loan Agreement be, and it is hereby is, amended, effective as of the date of this Amendment, as set forth
on Annex A to this Amendment. Language being ‎inserted into any applicable section of the Credit Agreement is designated by
blue double underlined text. ‎Language being deleted from
any applicable section of the Credit Agreement is designated by red ‎strike-through text.
In addition, the Schedules to the Credit Agreement attached thereto are hereby ‎amended and restated in their entirety by replacing
them with the Schedules attached as Annex B ‎hereto.‎‎

 

4.            Amendment
Fee. For the accommodations reflected in this Amendment, Borrowers shall pay to Agent for the account of Sole Lender, a one-time
amendment fee in an amount equal to $30,000 (the “Amendment Fee”), which Amendment Fee shall be fully earned on the
date hereof and shall be due and payable by Borrowers in immediately available funds on the date hereof. The Amendment Fee is in addition
to any other fee set forth in the Loan Documents and shall not be refundable for any reason whatsoever.

 

    	 	2	 

     

    

 

5.            No
Default; Representations and Warranties, Etc. Obligors hereby represent, warrant and confirm that: (a) after giving effect
to this Amendment, all representations and warranties of Obligors in the Loan Agreement and the other Loan Documents are true and correct
in all material respects (without duplication of any materiality qualifier contained therein) on and as of the date hereof as if made
on such date (except to the extent that such representations and warranties expressly relate to or are stated to have been made as of
an earlier date, in which case, such representations and warranties shall be true and correct in all material respects (without duplication
of any materiality qualifier contained therein) as of such earlier date); (b) after giving effect to this Amendment, no Default or
Event of Default has occurred and is continuing; and (c) the execution, delivery and performance by Obligors of this Amendment and
all other documents, instruments and agreements executed and delivered in connection herewith or therewith (i) have been duly authorized
by all necessary action on the part of Obligors (including any necessary shareholder consents or approvals), (ii) do not violate,
conflict with or result in a default under and will not violate or conflict with or result in a default under any applicable law or regulation,
any term or provision of the organizational documents of any Obligor or any term or provision of any material indenture, agreement or
other instrument binding on any Obligor or any of its assets, and (iii) do not require the consent of any Person which has not been
obtained.

 

6.            Ratification
and Confirmation. Obligors hereby ratify and confirm all of the terms and provisions of the Loan Agreement and the other Loan
Documents and agree that all of such terms and provisions, as amended hereby, remain in full force and effect. Without limiting the generality
of the foregoing, Obligors hereby acknowledge and confirm that all of the “Obligations” under and as defined in the Loan Agreement
are valid and enforceable and are secured by and entitled to the benefits of the Loan Agreement and the other Loan Documents, and Obligors
hereby ratify and confirm the grant of the liens and security interests in the Collateral in favor of Agent, for the benefit of itself
and Lenders, pursuant to the Loan Agreement and the other Loan Documents, as security for the Obligations.

 

7.            Waiver;
Release. To induce Agent and Sole Lender to enter into this Amendment, including providing the waivers provided for herein, and
for other good and valuable consideration, each Obligor hereby forever waives, relieves, releases, and forever discharges Agent and Sole
Lender, together with its respective present or former employees, officers, directors, agents, representatives, attorneys, and each of
them, from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, costs and expenses, actions and causes
of action, of every type, kind, nature, description or character whatsoever, whether known or unknown, suspected or unsuspected, absolute
or contingent, arising out of or in any manner whatsoever connected with or related to facts, circumstances, issues, controversies or
claims, or by reason of any matter, cause or anything whatsoever existing or arising from the beginning of time through and including
the date of execution of this Amendment relating to or arising out of the Loan Agreement and any of the Loan Documents or otherwise, including,
without limitation, any actual or alleged act or omission of or on behalf of Agent and/or Sole Lender with respect to the Loan Documents
and any security interest, Liens or Collateral in connection therewith, or the enforcement of any of Agent and/or Sole Lender’s
rights or remedies thereunder (collectively “Released Claims”). Without limiting the foregoing, the Released Claims
shall include any and all liabilities or claims arising out of or in any manner whatsoever connected with or related to the Loan Agreement
and the other Loan Documents, this Amendment, the Recitals hereto, any instruments, agreements or documents executed in connection with
any of the foregoing, and/or the origination, negotiation, administration, servicing and/or enforcement of any of the foregoing.

 

(a)            By
entering into this release, each Obligor recognizes that no facts or representations are ever absolutely certain and it may hereafter
discover facts in addition to or different from those which it presently knows or believes to be true, but that it is the intention of
each Obligor hereby to fully, finally and forever settle and release all matters, disputes and differences, known or unknown, suspected
or unsuspected; accordingly, if any Obligor should subsequently discover that any fact that it relied upon in entering into this release
was untrue, or that any understanding of the facts was incorrect, no Obligor shall be entitled to set aside this release by reason thereof,
regardless of any claim of mistake of fact or law or any other circumstances whatsoever. Each Obligor acknowledges that it is not relying
upon and has not relied upon any representation or statement made by Agent or Sole Lender with respect to the facts underlying this release
or with regard to any of such party’s rights or asserted rights.

 

    	 	3	 

     

    

 

(b)            This
release may be pleaded as a full and complete defense and/or as a cross-complaint or counterclaim against any action, suit, or other proceeding
that may be instituted, prosecuted or attempted in breach of this release. Each Obligor acknowledges that the release(s) contained
herein constitute(s) a material inducement to Agent and Sole Lender to enter into this Amendment, and that Agent and Sole Lender
would not have done so but for Agent’s and Sole Lender’s expectation that such release(s) is valid and enforceable in
all events.

 

(c)            Each
Obligor hereby represents and warrants to Agent and Sole Lender, and Agent and Sole Lender are relying thereon, as follows:

 

i.            Except
as expressly stated in this Amendment, neither Agent nor Sole Lender nor any other agent, employee or representative of Agent and/or Sole
Lender, has made any statement or representation to any Obligor regarding any fact relied upon by such Obligor in entering into this Amendment;

 

ii.            Each
Obligor has made such investigation of the facts pertaining to this Amendment and all of the matters appertaining thereto, as it deems
necessary;

 

iii.            The
terms of this Amendment are contractual and not a mere recital; and

 

iv.            This
Amendment has been carefully read by each Obligor, the contents hereof are known and understood by each such Obligor, and this Amendment
is signed freely, and without duress, by each such Obligor.

 

(d)            Each
Obligor further represents and warrants that it is the sole and lawful owner of all right, title and interest in and to every claim and
every other matter which it releases herein, and that it has not heretofore assigned or transferred, or purported to assign or transfer,
to any person, firm or entity any claims or other matters herein released. Each Obligor shall indemnify Agent and Sole Lender, and defend
and hold it/them harmless from and against all claims based upon, or arising in connection with, prior assignments or purported assignments
or transfers of any claims or matters released herein.

 

8.            Expenses
of Agent and Sole Lender. Borrowers agree to pay, on demand, all reasonable costs and expenses incurred by Agent and Sole Lender
in connection with the preparation, negotiation and execution of this Amendment and any other Loan Documents executed pursuant hereto
and any and all agreements, amendments, modifications, and supplements to the Loan Agreement, including, without limitation, the reasonable
fees of Agent’s and Sole Lenders’ legal counsel and any taxes or expenses associated with or incurred in connection with any
instrument or agreement referred to herein or contemplated hereby. Each Borrower acknowledges that Agent and Sole Lender may charge any
and all such reasonable fees, costs and expenses to Borrowers’ loan account in accordance with the Loan Agreement, and Agent and
Sole Lender agree to promptly provide all invoices to Borrowers related to such fees, costs and expenses after charging the loan account
therefor.

 

    	 	4	 

     

    

 

9.            Conditions
to Effectiveness of Amendment. This Amendment shall become effective as of the date when, and only when, each of the following
conditions precedent shall have been satisfied or waived in writing by Agent (such date being defined as the “Effective Date”):

 

(a)            Agent
shall have received counterparts to this Amendment, duly executed by Agent, Sole Lender and Obligors;

 

(b)            Agent
shall have received updated Disclosure Schedules to the Loan Agreement, dated as of the Effective Date;

 

(c)            Agent
shall have received true and complete copies of the fully executed Second Lien Loan Documents;

 

(d)            Agent
shall have received executed resolutions of the board of directors of each Borrower authorizing the execution and delivery of this Amendment
and the performance by such Borrower of its obligations under the Loan Agreement (as amended by this Amendment);

 

(e)            Agent
shall have received lien, tax and judgment searches from the applicable filing offices with respect to each of the Obligors evidencing
Agent’s first priority Liens on the Collateral (subject only to Permitted Liens);

 

(f)            Agent
shall have received from Summer Infant (USA), Inc. (i) an executed Grant of Security Interest in United States Patents and (ii) an
executed Grant of Security Interest in United States Trademarks;

 

(g)            Agent
shall have received a fully executed copy of the Deposit Account Control Agreement, dated as of the Effective Date, among Agent, Second
Lien Agent, Bank of America, N.A. and Summer Infant (USA), Inc.; and

 

(h)            Agent
shall have received the Amendment Fee.

 

10.            Reservation
of Rights. This Amendment shall be limited precisely as written and, except as expressly set forth herein, neither the fact of
Agent and Sole Lender’s agreement to enter into this Amendment nor any other term or provisions herein shall, or shall be deemed
or construed to, (i) be a consent to any forbearance, waiver, amendment or modification of any term, provision or condition of the
Loan Documents, (ii) affect, impair, operate as a waiver of, or prejudice any right, power or remedy which Agent and Sole Lender
may now or hereafter have pursuant to the Loan Documents or any other document, agreement, security agreement or instrument executed in
connection with or related to the Loan Documents, or at law or in equity or by statute including, without limitation, with regard to any
existing or hereafter arising Event of Default, (iii) impose upon Agent or Sole Lender any obligation, express or implied, to consent
to any amendment or further modification of the Loan Documents, or (iv) be a consent to any waiver of any existing Event of Default.
Agent and Sole Lender hereby expressly reserve all rights, powers and remedies specifically given to either of them under the Loan Documents
or now or hereafter existing at law, in equity or by statute.

 

11.            Miscellaneous.

 

(a)            Further
Assurances. Obligors shall take such further actions, and execute and deliver to Agent and Lenders such additional assignments,
agreements, supplements, powers and instruments, as Agent and/or Lenders may deem necessary or appropriate, wherever required by law,
in order to perfect, preserve and protect the security interest in the Collateral and the rights and interests granted to Agent and Lenders
under the Loan Agreement and the other Loan Documents, or to permit Agent and Lenders to exercise and enforce their rights, powers and
remedies with respect to any Collateral. Without limiting the generality of the foregoing, but subject to applicable law, Obligors shall
make, execute, endorse, acknowledge, file or refile and/or deliver to Agent from time to time upon request such lists, descriptions and
designations of the Collateral, copies of warehouse receipts, receipts in the nature of warehouse receipts, bills of lading, documents
of title, vouchers, invoices, schedules, confirmatory assignments, supplements, additional security agreements, conveyances, financing
statements, transfer endorsements, powers of attorney, certificates, reports, and other assurances or instruments.

 

    	 	5	 

     

    

 

(b)            Full
Force and Effect; Entire Agreement. Except to the extent expressly provided in this Amendment, the terms and conditions of the
Loan Agreement and each other Loan Document shall remain in full force and effect. This Amendment, the Loan Agreement and the other Loan
Documents constitute and contain the entire agreement of the parties hereto and supersede any and all prior agreements, negotiations,
correspondence, understandings and communications between the parties, whether written or oral, respecting the subject matter hereof.

 

(c)            Non-Waiver.
Except as specifically provided herein, none of this Amendment or Agent’s and/or any Lender’s continued making of Loans or
other extensions of credit at any time extended to Borrowers in accordance with this Amendment, the Loan Agreement, and the other Loan
Documents shall be deemed a waiver of or consent to any Default or Event of Default. Obligors agree that any such Default and/or Event
of Default, if any, shall not be deemed to have been waived, released or cured by virtue of Loans or other extensions of credit at any
time extended to Borrowers, or by Agent’s and/or Sole Lender’s agreements provided for herein. Nothing in this Amendment shall
restrict Agent’s or Sole Lender’s ability to take or refrain from taking or exercise any right that may exist under the Loan
Documents.

 

(d)            Counterparts.
This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original,
but all such counterparts taken together shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature
page to this Amendment by telecopier, pdf or by other electronic means acceptable to Agent (including, without limitation, by electronic
signature to the extent acceptable to Agent) shall be equally as effective as delivery of an original, manually executed, counterpart.
Any party delivering an executed counterpart of a signature page to this Amendment by telecopier, pdf or other electronic means (including
by electronic signature) shall also deliver an original executed counterpart of this Amendment but the failure to deliver an original
executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.

 

(e)            No
Third Parties Benefited. This Amendment is made and entered into for the sole benefit
of Obligors, Agent and the Lenders, and their permitted successors and assigns, and except as otherwise expressly provided in this Amendment,
no other Person shall be a direct or indirect legal beneficiary of, or have any direct or indirect cause of action or claim in connection
with, this Amendment.

 

(f)            Governing
Law. THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER
IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF
(BUT INCLUDING SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

 

    	 	6	 

     

    

 

(g)            Severability.
In case any provision in or obligation under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction,
shall not in any way be affected or impaired thereby.

 

(h)            Jury
Trial Waiver. BORROWERS, GUARANTORS, AGENT AND SOLE LENDER EACH HEREBY WAIVE ANY
RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS
OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES TO THIS AMENDMENT IN RESPECT OF THIS AMENDMENT OR
THE OTHER LOAN DOCUMENTS OR THE RELATED TRANSACTIONS, INCLUDING, WITHOUT LIMITATION, THE OBLIGATIONS OF BORROWERS, THE COLLATERAL,
OR ANY INSTRUMENT OR DOCUMENT DELIVERED PURSUANT TO THIS AMENDMENT, OR THE VALIDITY, PROTECTION, INTERPRETATION, ADMINISTRATION,
COLLECTION OR ENFORCEMENT OF THIS AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS, WHETHER NOW EXISTING OR HEREAFTER ARISING, WHETHER IN
CONTRACT, TORT, EQUITY OR OTHERWISE. BORROWERS, GUARANTORS, AGENT AND SOLE LENDER EACH HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION
OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT SUCH OBLIGOR PARTY OR LENDER MAY FILE AN ORIGINAL COUNTERPART OF
THIS AMENDMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES TO THE WAIVER OF THEIR RIGHT TO A TRIAL BY JURY.

 

(i)            Loan
Document. This Amendment shall be deemed to be a Loan Document for all purposes.

 

[Remainder of page intentionally left blank]

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amendment, which shall be deemed to be a sealed instrument as of the date first above written.

 

	 	BORROWERS:
	 	 
	 	SUMMER INFANT, INC.
	 	 
	 	By:	 /s/ Bruce Meier
	 	 	Name: 	Bruce Meier
	 	 	Title:	 Interim Chief Financial Officer
	 	 
	 	SUMMER INFANT (USA), INC.
	 	 
	 	By: 	/s/ Bruce Meier
	 	 	Name: 	Bruce Meier
	 	 	Title: 	Chief Financial Officer
	 	 
	 	GUARANTORS:
	 	 
	 	SUMMER INFANT CANADA, LIMITED
	 	 
	 	By:	 /s/ Bruce Meier
	 	 	Name:	 Bruce Meier
	 	 	Title: 	Chief Financial Officer
	 	 
	 	SUMMER INFANT EUROPE LIMITED
	 	 
	 	By: 	/s/ Bruce Meier
	 	 	Name:	 Bruce Meier
	 	 	Title: 	Director

 

[Signature
Page to Amendment No. 1 to Third Amended and Restated Loan and Security Agreement]

 

     

     

    

 

	 	AGENT:
	 	 
	 	BANK OF AMERICA, N.A.,
	 	as Agent
	 	 
	 	By	 /s/ Cynthia G. Stannard
	 	 	Name: 	Cynthia Stannard
	 	 	Title: 	Senior Vice President
	 	 
	 	LENDER:
	 	 
	 	BANK OF AMERICA, N.A.,
	 	as Sole Lender
	 	 
	 	By	 /s/ Cynthia G. Stannard
	 	 	Name: 	Cynthia Stannard
	 	 	Title: 	Senior Vice President

 

[Signature
Page to Amendment No. 1 to Third Amended and Restated Loan and Security Agreement]

 

     

     

    

 

ANNEX A

 

[Attached]

 

     

     

    

 

Execution CopyAnnex
A to

Amendment
No. 1 to Third Amended and Restated Loan and Security Agreement

 

 

SUMMER INFANT, INC., and

 

SUMMER INFANT (USA), INC.,

 

as Borrowers, and

 

THE GUARANTORS FROM TIME TO TIME PARTY HERETO

 

 

THIRD AMENDED AND RESTATED LOAN AND SECURITY
AGREEMENT

 

Dated as of October 15, 2020

 

 

CERTAIN FINANCIAL INSTITUTIONS,

 

as Lenders

 

and

 

BANK OF AMERICA, N.A.,

 

as Agent

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	 	 	 
	SECTION 1. DEFINITIONS; RULES OF CONSTRUCTION	1
	1.1. 	Definitions	1
	1.2. 	Accounting Terms	3840
	1.3. 	Uniform Commercial Code and PPSA	40
	1.4. 	Certain Matters of Construction	3941
	1.5. 	Currency Equivalents	4042
	SECTION 2. CREDIT FACILITIES	4042
	2.1. 	FILO and Revolver Commitments	4042
	2.2. 	Term Loan Commitment	4345
	2.3. 	Letter of Credit Facility	4345
	SECTION 3. INTEREST, FEES AND CHARGES	4647
	3.1.	Interest	4647
	3.2.	Fees	4749
	3.3.	Computation of Interest, Fees, Yield Protection	4749
	3.4. 	Reimbursement Obligations	4850
	3.5. 	Illegality	4850
	3.6. 	Inability to Determine Rates.	4851
	3.7. 	Increased Costs; Capital Adequacy	5154
	3.8. 	Mitigation	5255
	3.9. 	Funding Losses	5255
	3.10.	Maximum Interest	5255
	SECTION 4. LOAN ADMINISTRATION	5355
	4.1.	Manner of Borrowing and Funding of FILO Loans and Revolver Loans	5355
	4.2. 	Defaulting Lender	5457
	4.3. 	Number and Amount of LIBORBSBY Loans; Determination of Rate	5557
	4.4. 	Borrower Agent	5558
	4.5. 	One Obligation	5558
	4.6. 	Effect of Termination	5558
	SECTION 5. PAYMENTS	5658
	5.1. 	General Payment Provisions	5658
	5.2.	Repayment of FILO Loans and Revolver Loans	5659
	5.3.	Repayment of Term Loans	5659
	5.4.	Payment of Other Obligations	5760
	5.5. 	Marshaling; Payments Set Aside	5760
	5.6. 	Application and Allocation of Payments	5760
	5.7. 	Dominion Accounts	6063
	5.8.	Account Stated	6063
	5.9. 	Taxes	6063
	5.10. 	Lender Tax Information	6265
	5.11.	Nature and Extent of Each Borrower’s Liability	6466

 

    -i-

     

    

 

	SECTION 6.	CONDITIONS PRECEDENT	6669
	6.1.	Conditions Precedent to Initial Loans	6669
	6.2. 	Conditions Precedent to All Credit Extensions	6871
	SECTION 7.	COLLATERAL	6971
	7.1. 	Grant of Security Interest	6971
	7.2. 	Lien on Deposit Accounts; Cash Collateral	7073
	7.3.	[Reserved]	7173
	7.4. 	Other Collateral	7173
	7.5. 	No Assumption of Liability	7173
	7.6. 	Further Assurances	7174
	SECTION 8.	COLLATERAL ADMINISTRATION	7174
	8.1. 	Borrowing Base Certificates	7174
	8.2.	Administration of Accounts	7274
	8.3. 	Administration of Inventory	7275
	8.4. 	Administration of Equipment	7376
	8.5. 	Administration of Deposit Accounts	7376
	8.6. 	General Provisions	7476
	8.7. 	Power of Attorney	7577
	SECTION 9.	REPRESENTATIONS AND WARRANTIES	7578
	9.1. 	General Representations and Warranties	7578
	9.2. 	Complete Disclosure	8285
	SECTION 10.	COVENANTS AND CONTINUING AGREEMENTS	8285
	10.1. 	Affirmative Covenants	8285
	10.2. 	Negative Covenants	8890
	10.3. 	Financial Covenants	9395
	10.4. 	Restrictions on Activities of Company	9396
	10.5. 	Restrictions on Activities of Foreign Subsidiaries	9496
	SECTION 11.	EVENTS OF DEFAULT; REMEDIES ON DEFAULT	9496
	11.1.	Events of Default	9496
	11.2. 	Remedies upon Default	9699
	11.3. 	License	97100
	11.4. 	Setoff	97100
	11.5. 	Remedies Cumulative; No Waiver	98100

 

    -ii-

     

    

 

	SECTION 12.	AGENT	98101
	12.1. 	Appointment, Authority and Duties of Agent	98101
	12.2. 	Agreements Regarding Collateral and Borrower Materials	99102
	12.3. 	Reliance By Agent	100102
	12.4. 	Action Upon Default	100102
	12.5.	Ratable Sharing	100103
	12.6. 	Indemnification	100103
	12.7. 	Limitation on Responsibilities of Agent	101103
	12.8. 	Successor Agent and Co-Agents	101104
	12.9.	Due Diligence and Non-Reliance	102104
	12.10. 	Remittance of Payments and Collections	102104
	12.11. 	Individual Capacities	102105
	12.12. 	Titles	103105
	12.13. 	Certain ERISA Matters	103105
	12.14. 	Bank Product Providers	103106
	12.15. 	No Third Party Beneficiaries	103106
	SECTION 13.	BENEFIT OF AGREEMENT; ASSIGNMENTS	104106
	13.1.	Successors and Assigns	104106
	13.2. 	Participations	104106
	13.3.	Assignments	105107
	13.4. 	Replacement of Certain Lenders	105108
	SECTION 14.	THE GUARANTEE	106108
	14.1. 	Guarantee	106108
	14.2. 	Obligations Unconditional	106108
	14.3.	Reinstatement	107109
	14.4. 	Subrogation	107109
	14.5. 	Remedies	107110
	14.6.	Instrument for the Payment of Money	107110
	14.7. 	Continuing Guarantee	107110
	14.8. 	General Limitation on Amount of Obligations Guaranteed	107110
	14.9. 	Joint Enterprise	108110
	14.10. 	Subordination	108110
	14.11. 	Conflicts with Canadian Guaranty or UK Guaranty	108110

 

    -iii-

     

    

 

	SECTION 15.	MISCELLANEOUS	108111
	15.1. 	Consents, Amendments and Waivers	108111
	15.2. 	Indemnity	109112
	15.3. 	Notices and Communications	109112
	15.4. 	Performance of Obligors’ Obligations	111113
	15.5. 	Credit Inquiries	111113
	15.6.	Severability	111113
	15.7. 	Cumulative Effect; Conflict of Terms	111114
	15.8. 	Counterparts	111114
	15.9. 	Entire Agreement	111114
	15.10. 	Relationship with Lenders	112114
	15.11. 	No Advisory or Fiduciary Responsibility	112114
	15.12. 	Confidentiality	112115
	15.13. 	GOVERNING LAW	113115
	15.14. 	Consent to Forum	113115
	15.15. 	Waivers by Obligors	113115
	15.16. 	Patriot Act Notice	113116
	15.17. 	Canadian Anti-Money Laundering Legislation	114116
	15.18. 	Continued Effectiveness; No Novation	114117
	15.19. 	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	115117
	15.20. 	[Reserved]	115118
	15.21. 	Acknowledgement Regarding Any Supported QFCs	122118

 

    -iv-

     

    

 

LIST
OF EXHIBITS AND SCHEDULES

 

	Exhibit A	Assignment and Acceptance
	Exhibit B	Assignment Notice
	 	 
	Schedule 1.1(a)	Commitments of Lenders
	Schedule 1.1(b)	Accruals
	Schedule 1.1(c)	Existing Letters of Credit
	Schedule 8.5	Deposit Accounts
	Schedule 8.6.1	Business Locations
	Schedule 9.1.4	Names and Capital Structure
	Schedule 9.1.5	Title to Properties; Liens
	Schedule 9.1.8	Surety Obligations
	Schedule 9.1.10	Brokers
	Schedule 9.1.11	Patents, Trademarks, Copyrights and Licenses
	Schedule 9.1.13	Compliance with Laws
	Schedule 9.1.14	Environmental Matters
	Schedule 9.1.15	Restrictive Agreements
	Schedule 9.1.16	Litigation
	Schedule 9.1.18	Pension Plans
	Schedule 9.1.20	Labor Contracts
	Schedule 10.2.1	Existing Debt
	Schedule 10.2.2	Permitted Liens
	Schedule 10.2.17	Existing Affiliate Transactions

 

    -v-

     

    

 

THIRD
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 

THIS THIRD AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT dated as of October 15, 2020 (this “Agreement”), among SUMMER INFANT, INC.,
a Delaware corporation (the “Company”), SUMMER INFANT (USA), INC., a Rhode Island corporation (“SI
USA”, and together with Company, collectively, “Borrowers”), THE GUARANTORS FROM TIME TO TIME PARTY HERETO,
the financial institutions from time to time party to this Agreement from time to time as lenders (collectively, “Lenders”)
and BANK OF AMERICA, N.A., a national banking association, as agent and security trustee for the Lenders (“Agent”)
amends and restates in its entirety that certain Second Amended and Restated Loan and Security Agreement dated as of June 28, 2018
(as amended prior to the date hereof, the “Existing Credit Agreement”) among the Borrowers, the guarantors party thereto,
the lenders party thereto, Bank of America, N.A. as agent.

 

R E C I T A L S:

 

Borrowers have requested that
Lenders provide a credit facility to Borrowers to finance their mutual and collective business enterprise of the Borrowers and the other
Obligors. Lenders are willing to provide the credit facility on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, for
valuable consideration hereby acknowledged, the parties agree as follows:

 

Section 1.     DEFINITIONS;
RULES OF CONSTRUCTION

 

1.1.            Definitions.
As used herein, the following terms have the meanings set forth below:

 

Account: as defined
in the UCC (or, with respect to any account receivable of any Canadian Guarantor to which the PPSA is applicable, as defined in the PPSA
or, with respect to any UK Guarantor, Book Debts), including all rights to payment for goods sold or leased, or for services rendered.

 

Account Debtor: a Person
obligated under an Account, Chattel Paper, General Intangible or Intangible.

 

Accounts Formula Amount:
85% of the Value of Eligible Accounts.

 

Acquisition: a transaction
or series of transactions resulting in (a) acquisition of a business, division, or substantially all assets of a Person; (b) record
or beneficial ownership of 50% or more of the Equity Interests of a Person; or (c) merger, amalgamation, consolidation or combination
of a Borrower or Subsidiary with another Person.

 

Affected Financial Institution:
(a) any EEA Financial Institution or (b) any UK Financial Institution.

 

Affiliate: with respect
to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under
common Control with the Person specified.

 

Agent Indemnitees:
Agent and its officers, directors, employees, Affiliates, agents and attorneys.

 

Agent Professionals:
attorneys, accountants, appraisers, auditors, business valuation experts, environmental engineers or consultants, field examiners, turnaround
consultants, and other professionals and experts retained by Agent.

 

Agreement Currency:
as defined in Section 1.5.

 

     

     

    

 

Aggregate FILO Commitment
Amount, Aggregate FILO Account Advance Percentage, and Aggregate FILO Inventory Advance Percentage: for each applicable
period set forth below the applicable commitment amount or percentage, as applicable, set forth below:

 

	Applicable Period	 	 	Aggregate FILO

Commitment Amount	 	 	Aggregate FILO

Account Advance

Percentage	 	 	Aggregate FILO

Inventory Advance

Percentage	 
	Restatement Date – December 31, 2020	 	 	$	2,500,000	 	 	 	5.0000	%	 	 	10.000	%
	January 1, 2021 – March 31, 2021	 	 	$	2,343,750	 	 	 	4.6875	%	 	 	9.375	%
	April 1, 2021 – June 30, 2021	 	 	$	2,187,500	 	 	 	4.3750	%	 	 	8.750	%
	July 1, 2021 – September 30, 2021	 	 	$	2,031,250	 	 	 	4.0625	%	 	 	8.125	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	October 1 2021 – December 31, 2021	 	 	$	1,875,000	 	 	 	3.7500	%	 	 	7.500	%
	January 1, 2022 – March 31, 2022	 	 	$	1,718,750	 	 	 	3.4375	%	 	 	6.875	%
	April 1, 2022 – June 30, 2022	 	 	$	1,562,500	 	 	 	3.1250	%	 	 	6.125	%
	July 1, 2022 – September 30, 2022	 	 	$	1,406250	 	 	 	2.8125	%	 	 	5.625	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	October 1, 2022 – December 31, 2022	 	 	$	1,250,000	 	 	 	2.5000	%	 	 	5.000	%
	January 1, 2023 – March 31, 2023	 	 	$	1,093,750	 	 	 	2.1875	%	 	 	4.375	%
	April 1, 2023 – June 30, 2023	 	 	$	937,500	 	 	 	1.8750	%	 	 	3.750	%
	July 1, 2023 – September 30, 2023	 	 	$	781,250	 	 	 	1.5625	%	 	 	3.125	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	October 1, 2023 – December 31, 2023	 	 	$	625,000	 	 	 	1.2500	%	 	 	2.500	%
	January 1, 2024 – March 31, 2024	 	 	$	468,750	 	 	 	0.9375	%	 	 	1.875	%
	April 1, 2024 – June 30, 2024	 	 	$	312,500	 	 	 	0.6250	%	 	 	1.250	%
	July 1, 2024 – October 14, 2024	 	 	$	156,250	 	 	 	0.3125	%	 	 	0.625	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	October 15, 2024 and thereafter	 	 	$	0	 	 	 	0.0000	%	 	 	0.00	%

 

Allocable Amount: as
defined in Section 5.11.3.

 

Amazon Companies: collectively,
Amazon.com, Inc. and its Affiliates.

 

Amazon
Companies Account Concentration Limit: (a) solely from August 27, 2021 through and including April 2, 2022, 55% of the
aggregate Eligible Accounts, and (b) at all other times (including, for the avoidance of doubt, at all times on and after April 3,
2022), 45% of the aggregate Eligible Accounts.

 

Anti-Corruption Laws:
means laws relating to anti-bribery or anti-corruption (governmental or commercial) which apply to any Obligor, including laws that prohibit
the corrupt payment, offer, promise, or authorization of the payment or transfer of anything of value (including gifts or entertainment),
directly or indirectly, to any foreign government official, foreign government employee or commercial entity to obtain a business advantage;
including the FCPA, and all national and international laws enacted to implement the OECD Convention on Combating Bribery of Foreign Officials
in International Business Transactions.

 

Anti-Terrorism Law:
any law relating to terrorism or money laundering, including the Patriot Act, the Canadian Anti-Money Laundering & Anti-Terrorism
Legislation and the UK Anti-Terrorism Laws.

 

Applicable Law: all
laws, rules, regulations and governmental guidelines applicable to the Person, conduct, transaction, agreement or matter in question,
including all applicable statutory law, common law and equitable principles, and all provisions of constitutions, treaties, statutes,
rules, regulations, orders and decrees of Governmental Authorities, and including, without limitation, the CPSC Regulations.

 

    	 	-2-	 

     

    

 

Applicable Margin or Applicable
Unused Line Fee Rate: with respect to any Type of Loan, the margin set forth below, or with respect to the unused line fees payable
under Section 3.2.1, the rate per annum set forth below, in each case, as determined for the most recently ended Fiscal Quarter:

 

	Level	 	 	Average Quarterly 
Availability	 	 	Base Rate

Revolver

Loans	 	 	 
LIBOR

‌BSBY

Revolver

Loans
	 	 	Base Rate

FILO

Loans	 	 	 
LIBOR‌

BSBY

FILO Loans
	 	 	Base Rate

Term

Loans	 	 	 
LIBOR‌

BSBY

Term Loans
	 	 	Applicable
 Unused
 Line Fee

                                                                                Rate
	 
	I	 	 	 	>$20,000,000	 	 	 	1.00	%	 	 	2.00	%	 	 	2.25	%	 	 	3.25	%	 	 	2.50	%	 	 	3.50	%	 	 	0.25	%
	II	 	 	 	<$20,000,000	 	 	 	1.25	%	 	 	2.25	%	 	 	2.25	%	 	 	3.25	%	 	 	2.50	%	 	 	3.50	%	 	 	0.375	%

 

Until Agent shall have received the Borrowing
Base Certificate for the month ended March 31, 2021, the respective Applicable Margins and Applicable Unused Line Fee Rate shall
be determined as if Level II were applicable. Thereafter, the respective Applicable Margins and Applicable Unused Line Fee Rate shall
be determined based upon Average Quarterly Availability for each Fiscal Quarter as determined by Agent based upon the Borrowing Base Certificates
delivered pursuant to Section 8.1 for each month during such Fiscal Quarter, which determination shall be effective on the
first day of the calendar month after receipt by Agent of the Borrowing Base Certificate for the last month in such Fiscal Quarter. If
any financial statement, Borrowing Base Certificate or Compliance Certificate due in the preceding month has not been received, then,
at the option of Agent or Required Lenders, the respective Applicable Margins and Applicable Unused Line Fee Rate shall be determined
as if Level II were applicable, from such day until the first day of the calendar month following actual receipt.
Notwithstanding the foregoing or anything else to the contrary in this Agreement, until such time as Borrowers are in compliance with
the Fixed Charge Coverage Ratio financial covenant set forth in Section 10.3.1, the Applicable Margin at any such time shall
be 0.50% greater than the Applicable Margin that would otherwise be applicable above.

 

Applicable Percentage:
with respect to any Lender, (a) with respect to Revolver Loans, LC Obligations, Revolver Overadvance Loans, Protective Advances or
Swingline Loans, a percentage equal to a fraction the numerator of which is such Lender’s Revolver Commitment and the denominator
of which is the aggregate Revolver Commitments (provided, that if the Revolver Commitments have terminated or expired, each Lender’s
Applicable Percentage shall be determined based upon such Lender’s share of the aggregate Revolver Exposure at such time), (b) with
respect to FILO Loans, a percentage equal to a fraction the numerator of which is such Lender’s FILO Commitment and the denominator
of which is the aggregate FILO Commitments (provided, that if the FILO Commitments have terminated or expired, each Lender’s Applicable
Percentage shall be determined based upon such Lender’s share of the aggregate FILO Exposure at such time) and (c) with respect
to the Term Loans, a percentage equal to a fraction the numerator of which is the aggregate outstanding principal amount of the Term Loans
of such Lender and the denominator of which is the aggregate outstanding principal amount of the Term Loans of all Term Lenders.

 

Approved Fund: any
Person (other than a natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar
extensions of credit in its ordinary course of activities, and is administered or managed by a Lender, an entity that administers or manages
a Lender, or an Affiliate of either.

 

Approved Processors:
collectively, ANA Global, Norco Plastics, Inc., and such other processors as Agent shall approve from time to time in its Permitted
Discretion.

 

    	 	-3-	 

     

    

 

Asset Disposition:
a sale, lease, license, consignment, transfer or other disposition of Property of an Obligor, including a disposition of Property in connection
with a sale-leaseback transaction, synthetic lease or statutory division of a limited liability company.

 

Assignment and Acceptance:
an assignment agreement between a Lender and Eligible Assignee, in the form of Exhibit A.

 

Availability: at any
time, (a) the lesser of (i) the aggregate Revolver Commitments at such time and (ii) the Revolver Borrowing Base, at such
time minus (b) the Revolver Exposure at such time.

 

Availability Reserve:
the sum (without duplication) of (a) the Inventory Reserve; (b) the Rent and Charges Reserve; (c) reserves for accrued
and unpaid Royalties, whether or not then due and payable; (d) the Bank Product Reserve; (e) the Canadian Priority Payables
Reserve; (f) the UK Priority Payables Reserve; (g) the Dilution Reserve; (h) reserves for amounts owed by any Obligor to
any processor (including, without limitation, the Approved Processors); (i) the aggregate amount of liabilities secured by Liens
upon Collateral that are senior to Agent’s Liens (but imposition of any such reserve shall not waive an Event of Default arising
therefrom); and (j) such additional reserves, in such amounts and with respect to such matters, as Agent in its Permitted Discretion
may elect to impose from time to time.

 

Average Availability:
the average daily Availability for an applicable period.

 

Average Quarterly Availability:
the average daily Availability for the applicable Fiscal Quarter.

 

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

 

Bail-In Legislation:
(a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of
the Council of the European Union, the implementing law or regulation 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 (to the extent that the United Kingdom is not
an EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European
Union), 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).

 

Bank of America: Bank
of America, N.A., a national banking association, and its successors and assigns.

 

Bank of America Indemnitees:
Bank of America and its officers, directors, employees, Affiliates, agents and attorneys.

 

Bank Product: any of
the following products, services or facilities extended to any Borrower or Subsidiary by a Lender or any of its Affiliates: (a) Cash
Management Services; (b) foreign exchange products or services; (c) products under Hedging Agreements; (d) commercial credit
card and merchant card services; and (e) other banking products or services as may be requested by any Borrower or Subsidiary, other
than Letters of Credit.

 

Bank Product Reserve:
the aggregate amount of reserves established by Agent from time to time in its Permitted Discretion in respect of Secured Bank Product
Obligations.

 

    	 	-4-	 

     

    

 

 

Bankruptcy Code: Title
11 of the United States Code.

 

Base Rate: for any
day, a per annum rate equal to the greater of (a) the Prime Rate for such day; (b) the Federal Funds Rate for such day, plus
0.50%; or (c) LIBORthe
BSBY Rate for a 1one
month interest period as determined onof
such day, plus 1.5%;
provided, that in no event shall the Base Rate be less than zero‎.

 

Base Rate FILO Loan:
a FILO Loan that bears interest based on the Base Rate.

 

Base Rate Loan: any
Loan that bears interest based on the Base Rate.

 

Base Rate Revolver Loan:
a Revolver Loan that bears interest based on the Base Rate.

 

Base Rate Term Loan:
a Term Loan that bears interest based on the Base Rate.

 

Beneficial Ownership Certification:
a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.

 

Beneficial Ownership Regulation:
31 C.F.R. §1010.230.

 

Benefit Plan: any
(a) employee benefit plan (as defined in ERISA) subject to Title I of ERISA, (b) plan (as defined in and subject to Section 4975
of the Code), or (c) Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I
of ERISA or Section 4975 of the Code) the assets of any such employee benefit plan or plan.

 

Blocked Person: means
any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224; (b) a
Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the
provisions of, Executive Order No. 13224; (c) a Person with which any Lender is prohibited from dealing or otherwise engaging
in any transaction by any Anti-Terrorism Law; (d) a Person that commits, threatens or conspires to commit or supports “terrorism”
as defined in Executive Order No. 13224; or (e) a Person that is named on the most current OFAC Lists.

 

Bloomberg:
Bloomberg Index Services Limited.

 

Board of Governors:
the Board of Governors of the Federal Reserve System.

 

Book Debts: as defined
in the UK Security Agreements.

 

Borrowed Money: with
respect to any Obligor, without duplication, its (a) Debt that (i) arises from the lending of money by any Person to such Obligor,
(ii) is evidenced by notes, drafts, bonds, debentures, credit documents or similar instruments, (iii) accrues interest or is
a type upon which interest charges are customarily paid (excluding trade payables owing in the Ordinary Course of Business), or (iv) was
issued or assumed as full or partial payment for Property; (b) Capital Leases; (c) unreimbursed reimbursement obligations with
respect to letters of credit; and (d) guaranties of any Debt of the foregoing types owing by another Person.

 

Borrower Agent: as
defined in Section 4.4.

 

Borrower Materials:
Revolver Borrowing Base and FILO Borrowing Base information, reports, financial statements and other materials delivered by Borrowers
hereunder, as well as other Reports and information provided by Agent to Lenders.

 

    -5-

     

    

 

Borrowing: a
group of Loans of one Type that are made on
the same day or are converted into
Loans of one Typetogether
on the same day,
with the same interest option and, if applicable, Interest Period.

 

Borrowing Base Certificate:
a certificate, in form and substance satisfactory to Agent, by which Borrowers certify calculation of the FILO Borrowing Base and the
Revolver Borrowing Base.

 

Brand: the trade brand
 “Summer Infant” and the trade names, trademarks and other marketing assets owned by the Company and related to such trade
brand.

 

Brand Appraisal: (a) the
Valuation and Review dated as of the Restatement Date prepared by Gordon Brothers Asset Advisors LLC (“Gordon Brothers”)
setting forth the Brand NOLV as of the Restatement Date (the “Initial Brand Appraisal”) and (b) such additional
appraisals (or updates thereof) of the Brand prepared after the Restatement Date by Gordon Brothers Asset Advisors LLC (or such other
appraisal firm(s) as shall be acceptable to the Administrative Agent in its Permitted
Discretion) utilizing substantially the same methodology as utilized by Gordon Brothers Asset Advisors LLC in determining the Brand NOLV
in the Initial Brand Appraisal.

 

Brand NOLV: the net
orderly liquidation value of the Brand, expressed in terms of money, anticipated to be realized from a liquidation sale of the Brand
to a financial buyer independent from the remainder of the business of the Company, given a reasonable period of time to find a buyer
(or buyers), with the Company being compelled to sell the Brand on an as-is, where-is basis, with a sense of immediacy.

 

BSBY
FILO Loan: a FILO Loan that bears interest based on the BSBY Rate.

 

BSBY
Loan: a Loan that bears interest based on clause (a) of the definition of BSBY Rate.

 

BSBY
Rate: (a) for any Interest Period for a BSBY Loan, a per annum rate equal to the BSBY Screen Rate
two Business Days prior to such
Interest Period, with a
term equivalent to such period
(or if such rate is not published on the determination date, the applicable BSBY Screen Rate on the Business Day immediately
preceding such date); and (b) for any interest calculation relating to a Base Rate Loan on any day, a per annum rate equal to
the BSBY Screen Rate with a term of one month commencing that day; provided, that in no event shall the BSBY Rate be less than
zero.

 

BSBY
Screen Rate: the Bloomberg Short-Term Bank Yield Index rate administered by Bloomberg and published
on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be
designated by Agent from time to time).

 

Business Day: any
day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the laws of, or are in fact closed
in, North Carolina and New York, and (i) if such day relates to a LIBOR Loan, any such day on which
dealings in Dollar deposits are conducted between banks in the London interbank Eurodollar market or (ii) if
the term “Business Day” has a different meaning in the Canadian Security Agreements or the UK Security Agreements, the definition
in such other document shall control as to issues covered in both this Agreement and such other document.

 

Canadian Anti-Money Laundering &
Anti-Terrorism Legislation: Part II.1 of the Criminal Code, R.S.C. 1985, c. C-46, the Proceeds of Crime Act and the United
Nations Act, R.S.C. 1985, c. U-2 or any similar Canadian legislation, together with all rules, regulations and interpretations thereunder
or related thereto including, without limitation, the Regulations Implementing the United Nations Resolutions on the Suppression of
Terrorism and the Regulations Implementing the United Nations Resolutions on Taliban, ISIL (Da’esh) and Al-Qaida promulgated
under the United Nations Act.

 

    -6-

     

    

 

Canadian Defined Benefit
Pension Plan: a Canadian Pension Plan with a “defined benefit provision” as such term is defined in the Income Tax Act
(Canada).

 

Canadian Dollars:
lawful money of Canada.

 

Canadian Guarantor:
each Canadian Subsidiary that guarantees payment or performance of the Obligations, including, without limitation, SI Canada. The definition
of “Canadian Guarantors” means all of such entities collectively.

 

Canadian Guaranty:
that certain Guarantee and Indemnity Agreement dated as of the Original Closing Date made by the Canadian Guarantor, as may be amended,
restated, replaced, confirmed, supplemented or otherwise modified from time to time.

 

Canadian MEPP: any
 “multi-employer pension plan” as such term is defined in the PBA to which any Obligor or its Subsidiaries has any liability,
contingent or otherwise.

 

Canadian Pension Plan:
a pension plan that is required to be registered as a pension plan under the PBA or the Income Tax Act (Canada) under which any Obligor
or its Subsidiaries has any liability, contingent or otherwise, but excludes a Canadian MEPP.

 

Canadian Priority Payables
Reserve: on any date of determination, reserves established by Agent in its Permitted Discretion for amounts payable by Canadian
Guarantors and secured by any Liens, choate or inchoate, which rank or which would reasonably be expected to rank in priority to or pari
passu with Agent’s Liens on Collateral in the Revolver Borrowing Base, amounts deemed to be held in trust, or held in trust, pursuant
to Applicable Law and/or for amounts which represent costs in connection with the preservation, protection, collection or realization
of the Collateral, including, without limitation, any such amounts due and not paid for wages, vacation pay, amounts (including severance
pay) payable under the Wage Earner Protection Program Act (Canada) or under the Bankruptcy and Insolvency Act (Canada), amounts due and
not paid under any legislation relating to workers’ compensation or to employment insurance, all amounts deducted or withheld and
not paid and remitted when due under the Income Tax Act (Canada), sales tax, goods and services tax, value added tax, harmonized tax,
excise tax, tax payable pursuant to Part IX of the Excise Tax Act (Canada) or similar applicable provincial legislation, government
royalties, amounts currently or past due and not paid for realty, municipal or similar taxes and all solvency deficiencies or wind-up
deficiencies under the PBA and all amounts currently or past due and not contributed, remitted or paid to any Canadian Pension Plan or
under the Canada Pension Plan or any similar statutory or other claims that would have or would reasonably be expected to have priority
over or pari passu with any Liens granted to Agent in the future (“Priority Payables”).

 

Canadian Security Agreements:
(a) the General Security Agreement dated as of the Original Closing Date, in form and substance reasonably acceptable to Agent,
executed by the Canadian Guarantors in favor of Agent, as the same may be amended, restated, confirmed, supplemented or otherwise modified
from time to time, and (b) any other Canadian security agreement required to be executed by any Obligor in favor of Agent after
the Original Closing Date, in each case, as the same may be amended, restated, confirmed, supplemented, replaced or otherwise modified
from time to time.

 

Canadian Subsidiary:
any Subsidiary of Company that is organized under the federal laws of Canada or any province or territory thereof.

 

Capital Expenditures:
all liabilities incurred or expenditures made by a Borrower or Subsidiary for the acquisition of fixed assets, or any improvements, replacements,
substitutions or additions thereto with a useful life of more than one year.

 

    -7-

     

    

 

Capital Lease: any
lease of property by an Obligor or any of its Subsidiaries which, in accordance with GAAP, should be reflected as a capital lease on
the consolidated balance sheet of the Obligors and their Subsidiaries.

 

CARES Account: has
the meaning set forth in Section 10.1.17(e).

 

CARES Act - Title I:
means Title I of the Coronavirus Aid, Relief and Economic Security Act, (H.R. 6074, H.R. 6201, H.R. 748 and H.R. 266 (116), as amended
(including any successor thereto), and all requests, rules, guidelines, requirements and directives thereunder or issued in connection
therewith or in implementation thereof, regardless of the date enacted, adopted, issued or implemented.

 

CARES Act Permitted Purposes:
means, with respect to the use of proceeds of any CARES Debt, the purposes set forth in Section 1106(b) of the CARES Act –
Title I and otherwise in compliance with all other provisions or requirements of the CARES Act – Title I applicable in order for
the entire amount of the CARES Debt to be eligible for forgiveness.

 

CARES Debt: has the
meaning set forth in Section 10.1.17.

 

CARES Forgiveness Date:
means five (5) Business Days after the date that the Borrowers obtains a final determination by the lender of the CARES Debt (and,
to the extent required, the Small Business Administration) (or such longer period as may be approved in writing by Agent) regarding the
amount of CARES Debt, if any, that will be forgiven pursuant to the provisions of the CARES Act - Title I.

 

CARES Unforgiven Debt:
means that amount of the CARES Debt that (x) has been determined by the lender of the CARES Debt (or the Small Business Administration)
to be ineligible for forgiveness pursuant to the provisions of the CARES Act - Title I; provided, that if such determination has
not been made on or before the date that is twelve (12) months after the date of incurrence of the CARES Debt (or such longer period
as may be approved in writing by Agent), all such CARES Debt shall be deemed “CARES Unforgiven Debt” until such time as a
final determination is made by the lender of the CARES Debt (and, to the extent required, the Small Business Administration), (y) either
(i) the CARES Debt (or the applicable portion thereof) is deemed CARES Unforgiven Debt if (1) Obligors do not timely file an
application for forgiveness or do not include any portion of the CARES Debt in an application for forgiveness, (2) Borrowers give
notice to the Agent that the CARES Debt will be CARES Unforgiven Debt, or (3) the Agent obtains actual knowledge that the CARES
Debt will be CARES Unforgiven Debt.

 

Cash Collateral: cash,
and any interest, dividends, proceeds or other income earned thereon, that is delivered to Agent to Cash Collateralize any Obligations.

 

Cash Collateral Account:
a demand deposit, money market or other account established by Agent at such financial institution as Agent may select in its discretion,
which account shall be subject to a Lien in favor of Agent.

 

Cash Collateralize:
the delivery of cash to Agent, as security for the payment of Obligations, in an amount equal to (a) with respect to LC Obligations,
103% of the aggregate LC Obligations, and (b) with respect to any inchoate, contingent or other Obligations (including Secured Bank
Product Obligations), Agent’s good faith estimate of the amount that is due or could become due, including all fees, expenses,
indemnification payments and other amounts relating to such Obligations. “Cash Collateralization” has a correlative
meaning.

 

Cash Dominion Period:
the period (a) commencing on the day that an Event of Default occurs, or Availability is less than the Cash Dominion Trigger Amount;
and (b) continuing until (x) no Event of Default shall have occurred and be continuing and (y) during the preceding 30
consecutive days, Availability shall have been greater than the Cash Dominion Trigger Amount at all times.

 

    -8-

     

    

 

Cash Dominion Trigger
Amount: $5,000,000.

 

Cash Equivalents:
(a) marketable obligations issued or unconditionally guaranteed by, and backed by the full faith and credit of, the United States,
Canadian, the United Kingdom or English government, maturing within 12 months of the date of acquisition; (b) certificates of deposit,
time deposits and bankers’ acceptances maturing within 12 months of the date of acquisition, and overnight bank deposits, in each
case which are issued by Bank of America or a commercial bank organized under the laws of the United States, Canada, the United Kingdom
or England or any state, province or district thereof, rated A-1 (or better) by S&P or P-1 (or better) by Moody’s at the time
of acquisition, and (unless issued by a Lender) not subject to offset rights; (c) repurchase obligations with a term of not more
than 30 days for underlying investments of the types described in clauses (a) and (b) entered into with any bank described
in clause (b); (d) commercial paper issued by Bank of America or rated A-1 (or better) by S&P or P-1 (or better) by Moody’s,
and maturing within nine months of the date of acquisition; and (e) shares of any money market fund that has substantially all of
its assets invested continuously in the types of investments referred to above, has net assets of at least $500,000,000 and has the highest
rating obtainable from either Moody’s or S&P.

 

Cash Management Services:
any services provided from time to time by a Lender or any of its affiliates to any Borrower or Subsidiary in connection with operating,
collections, payroll, trust, or other depository or disbursement accounts, including automated clearinghouse, e-payable, electronic funds
transfer, wire transfer, controlled disbursement, overdraft, depository, information reporting, lockbox and stop payment services.

 

Casualty Event: means
casualty or other insured damage to, or any taking under power of eminent domain or by condemnation, expropriation or similar proceeding
of (and payments in lieu thereof), any property or asset of an Obligor.

 

CERCLA: the Comprehensive
Environmental Response Compensation and Liability Act (42 U.S.C. § 9601 et seq.).

 

Change in Law: the
occurrence, after the date hereof, of (a) the adoption, taking effect or phasing in of any law, rule, regulation or treaty; (b) any
change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof; or (c) the making,
issuance or application of any request, guideline, requirement or directive (whether or not having the force of law) by any Governmental
Authority; provided, however, that “Change in Law” shall include, regardless of the date enacted, adopted or
issued, all requests, guidelines, requirements or directives (i) under or relating to the Dodd-Frank Wall Street Reform and Consumer
Protection Act or any European equivalent regulation (such as the European Market and Infrastructure Regulation), or (ii) promulgated
pursuant to Basel III by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any similar authority)
or any other Governmental Authority including CRD IV.

 

Change of Control:
an event or series of events by which:

 

(a)            any
 "person" or "group" (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act
of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity
as trustee, agent or other fiduciary or administrator of any such plan) becomes the "beneficial owner" (as defined in Rules 13d-3
and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have "beneficial ownership"
of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the
passage of time (such right, an "option right")), directly or indirectly, of 45% or more of the Equity Interests of
a Borrower entitled to vote for members of the board of directors or equivalent governing body of such Borrower on a fully-diluted basis
(and taking into account all such Equity Interests that such person or group has the right to acquire pursuant to any option right);

 

    -9-

     

    

 

(b)            during
any period of 12 consecutive months, a majority of the members of the board of directors or other equivalent governing body of a Borrower
cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period,
(ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above
constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose
election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and
(ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body
(excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office
as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents
for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more
directors by or on behalf of the board of directors);

 

(c)            Company
ceases to own, directly or indirectly, 100% of the Equity Interests of any Subsidiary (other than Subsidiaries that are joint ventures
permitted under this Agreement);

 

(d)            a
Borrower ceases to own, directly or indirectly 100% of the Equity Interests of any Guarantor or other Subsidiary (other than Subsidiaries
that are joint ventures permitted under this Agreement);

 

(e)            any
 “Change of Control” or similar event, as defined in the Second Lien Loan ‎Agreement or any other Second Lien Loan Documents
shall have occurred; or

 

(f)            (e) the
sale or transfer of all or substantially all of an Obligor’s assets except to another ‎Obligor.‎

 

Claims: all claims,
liabilities, obligations, losses, damages, penalties, judgments, proceedings, interest, costs and expenses of any kind (including remedial
response costs, reasonable attorneys’ fees and Extraordinary Expenses) at any time (including after Full Payment of the Obligations
or replacement of Agent or any Lender) incurred by any Indemnitee or asserted against any Indemnitee by any Obligor or other Person,
in any way relating to (a) any Loans, Letters of Credit, Loan Documents, Borrower Materials, or the use thereof or transactions
relating thereto, (b) any action taken or omitted in connection with any Loan Documents, (c) the existence or perfection of
any Liens, or realization upon any Collateral, (d) exercise of any rights or remedies under any Loan Documents or Applicable Law,
or (e) failure by any Obligor to perform or observe any terms of any Loan Document, in each case including all costs and expenses
relating to any investigation, litigation, arbitration or other proceeding (including an Insolvency Proceeding or appellate proceedings),
whether or not the applicable Indemnitee is a party thereto.

 

Code: the Internal
Revenue Code of 1986, as amended.

 

Collateral: all Property
described in Section 7.1, all Property described in any Security Documents as security for any Obligations, and all other
Property that now or hereafter secures (or is intended to secure) any Obligations.

 

Commitment: for any
Lender, the aggregate amount of such Lender's Revolver Commitment, FILO Commitment and Term Commitment.

 

    -10-

     

    

 

Commitments: the aggregate
Revolver Commitments, FILO Commitments and Term Commitments of all Lenders.

 

Commodity Exchange Act:
the Commodity Exchange Act (7 U.S.C. § 1 et seq.).

 

Company: as defined
in the Preamble hereto.

 

Competitor: on any
date, (a) any competitor (as reasonably determined by Borrowers) of SI Holdings and its Subsidiaries (other than bona fide fixed
income investors or debt funds) that are identified to Agent by Borrower Agent in writing on or prior to the Restatement Date; (b) any
other Person (other than any bona fide fixed income investor or debt funds) that is a competitor (as reasonably determined by Borrowers)
of SI Holdings and its Subsidiaries, which Person has been designated as a “Competitor” by written notice from Borrower Agent
to Agent not less than two (2) Business Days prior to such date; and (c) any Affiliate of a “Competitor described in
clause (a) or (b) of this definition, which Affiliate has been designated as a “ Competitor” by written notice
from Borrower Agent to Agent not less than two (2) Business Days prior to such date; provided, that “Competitors shall
exclude any Person that Borrower Agent has designated as no longer being a “Competitor” by written notice to Agent from time
to time. For the avoidance of doubt, to the extent that Persons are identified as Competitors in writing by Borrower Agent after the
Restatement Date, the inclusion of such Persons as Competitors shall not retroactively apply to prior assignments or participations in
respect of any Loan or Revolver Commitment under this Agreement.

 

Compliance Certificate:
a certificate, in form and substance satisfactory to Agent, containing a detailed calculation of the Fixed Charge Coverage Ratio as of
the Fiscal Month most recently ended, and, if a Financial Covenant Testing Period shall be in effect, certifying compliance with Section 10.3.1.

 

Conforming
Changes: with respect to use, administration of or conventions associated with BSBY Rate or any proposed Successor Rate, as applicable,
any conforming changes to the definitions of Base Rate, BSBY Rate and Interest
Period, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational
matters (including, for the avoidance of doubt, the definition of Business Day, timing of borrowing requests or prepayment, conversion
or continuation notices, and length of lookback periods) as may be
appropriate, in Agent's discretion, to reflect the adoption and implementation of such applicable rate(s) and
to permit the administration thereof by Agent in a manner substantially consistent with market practice (or, if Agent determines that
adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of
such rate exists, in such other manner of administration as Agent determines is reasonably necessary
in connection with the administration of any Loan Document).

 

Connection Income Taxes:
Other Connection Taxes that are imposed on or measured by net income (however
denominated), or are franchise, capital, or branch profits Taxes.

 

Consolidated EBITDA:
shall have the same meaning as “EBITDA”, as such term is defined herein.

 

Consolidated Total Assets:
shall mean, as of any date, the total assets of the Borrowers and their Subsidiaries determined in accordance with GAAP, as of the last
day of the Fiscal Quarter ended immediately prior to the date of such determination for which financial statements are required to have
been delivered pursuant to Sections 10.1.2(a) or (b).

 

    -11-

     

    

 

Contingent Obligation:
any obligation of a Person arising from a guaranty, indemnity or other assurance of payment or performance of any Debt, lease, dividend
or other obligation (“primary obligations”) of another obligor (“primary obligor”) in any manner,
whether directly or indirectly, including any obligation of such Person under any (a) guaranty, endorsement, co-making or sale with
recourse of an obligation of a primary obligor; (b) obligation to make take-or-pay or similar payments regardless of nonperformance
by any other party to an agreement; and (c) arrangement (i) to purchase any primary obligation or security therefor, (ii) to
supply funds for the purchase or payment of any primary obligation, (iii) to maintain or assure working capital, equity capital,
net worth or solvency of the primary obligor, (iv) to purchase Property or services for the purpose of assuring the ability of the
primary obligor to perform a primary obligation, or (v) otherwise to assure or hold harmless the holder of any primary obligation
against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to be the stated or determinable amount of the
primary obligation (or, if less, the maximum amount for which such Person may be liable under the instrument evidencing the Contingent
Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability with respect thereto.

 

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

 

Covered Entity: as
defined in Section 15.21.

 

CPSC: means the U.S.
Consumer Products Safety Commission.

 

CPSC Regulations:
means all laws and regulations enforced by the CPSC.

 

CRD IV: (a) Regulation
(EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions
and investment firms; and (b) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access
to the activity of credit institutions and the prudential supervision of credit institutions and investment firms.

 

Current Asset Collateral:
that portion of the Collateral comprised of Accounts, Chattel Paper, Commercial Tort Claims, Documents, Instruments, Inventory, Investment
Property, Letters of Credit (which for the purpose of this definition only, shall have the meaning given to such term in the UCC), Letter-of-Credit
Rights, Supporting Obligations and General Intangibles (to the extent such General Intangibles arise or relate to any of the foregoing,
but excluding Intellectual Property), and all products and proceed thereof (including, without limitation, cash proceeds, Cash Collateral,
cash held in Deposit Accounts (other than cash held in Deposit Accounts which is clearly identifiable as proceeds of Equipment, Real
Estate, fixtures or Intellectual Property), and proceeds of insurance with respect to any of the foregoing).

 

CWA: the Clean Water
Act (33 U.S.C. §§ 1251 et seq.).

 

Daily
Simple SOFR: with respect to any applicable determination date, the secured overnight financing rate published on such date by FRBNY,
as administrator of the benchmark (or a successor administrator), on FRBNY's website (or any successor source satisfactory to Agent).

 

Debt: as applied to
any Person, without duplication, (a) all items that would be included as liabilities on a balance sheet in accordance with GAAP,
including Capital Leases, but excluding trade payables incurred and being paid in the Ordinary Course of Business; (b) all Contingent
Obligations; (c) all reimbursement obligations in connection with letters of credit issued for the account of such Person; and (d) in
the case of any Obligor, the Obligations. The Debt of a Person shall include any recourse Debt of any partnership in which such Person
is a general partner or joint venturer.

 

Default: an event
or condition that, with the lapse of time or giving of notice, would constitute an Event of Default.

 

    -12-

     

    

 

Default Rate: for
any Obligation (including, to the extent permitted by law, interest not paid when due), 2% plus the interest rate otherwise applicable
thereto.

 

Defaulting Lender:
any Lender that, as determined by Agent, (a) has failed to perform any funding obligations hereunder, and such failure is not cured
within three Business Days; (b) has notified Agent or any Borrower that such Lender does not intend to comply with its funding obligations
hereunder or has made a public statement to the effect that it does not intend to comply with its funding obligations hereunder or under
any other credit facility; (c) has failed, within three Business Days following request by Agent, to confirm in a manner satisfactory
to Agent that such Lender will comply with its funding obligations hereunder; or (d) has, or has a direct or indirect parent company
that has, become the subject of an Insolvency Proceeding or taken any action in furtherance thereof (including reorganization, liquidation,
or appointment of a receiver, custodian, administrator or similar Person by the Federal Deposit Insurance Corporation or any other regulatory
authority); provided, however, that a Lender shall not be a Defaulting Lender solely by virtue of a Governmental Authority’s
ownership of an equity interest in such Lender or parent company unless the ownership provides immunity for such Lender from jurisdiction
of courts within the United States or from enforcement of judgments or writs of attachment on its assets, or permits such Lender or Governmental
Authority to repudiate or otherwise to reject such Lender's agreements.

 

Deposit Account: all
 “deposit accounts” as such term is defined in the UCC and/or with respect to any Deposit Account located in Canada, any account
with a deposit function.

 

Deposit Account Control
Agreements: the Deposit Account control or blocked account agreements to be executed by each institution maintaining a Deposit Account
for an Obligor, in favor of Agent, as security for the Obligations.

 

Designated Jurisdiction:
a country or territory that is the subject of a Sanction.

 

Dilution Reserve:
a reserve in an initial amount as of the Restatement Date equal to $1,000,000 established by the Company and reflected on the balance
sheet of the Company and its Subsidiaries, as the same may be adjusted from time to time by Agent in its Permitted Discretion based upon
the most recent field examination conducted by Agent. A list of accruals that are ineligible for inclusion in the Revolver Borrowing
Base and FILO Borrowing Base is set forth on Schedule 1.1(b) attached hereto.

 

Distribution: any
declaration or payment of a distribution, interest or dividend on any Equity Interest (other than a rights distribution and/or payment-in-kind
by the Company); any distribution, advance or repayment of Debt to a holder of Equity Interests; or any purchase, redemption, or other
acquisition or retirement for value of any Equity Interest.

 

Documents: means all
 “documents” as such term is defined in the UCC and/or with respect to any Documents of an Obligor domiciled in Canada, a
 ‘document of title’ as defined in the PPSA.

 

Dollars: lawful money
of the United States.

 

Dominion Account:
a collection or similar account established by an Obligor at Bank of America over which Agent has exclusive control for withdrawal purposes.

 

    -13-

     

    

 

EBITDA: determined
on a consolidated basis for Company and Subsidiaries, for each period of twelve consecutive months, equal to the aggregate of (a) net
income for such period, calculated before (i) interest expense, (ii) provision for income taxes and (iii) depreciation
and amortization expense; plus (b) the sum (without duplication) of the following: (i) expenses, fees and charges
incurred in connection with the closing of the ‎transactions
contemplated by this Agreement and the Existing CreditSecond
Lien Loan Agreement ‎‎(including
amendments thereto);‎
(ii) non-cash charges resulting from the write-down of goodwill, furniture, fixtures, equipment and software; (iii) non-cash
charges associated with the issuance and periodic re-measurement of Equity Interests in the Company; (iv) non-cash losses attributable
to deferred financing costs; (v) non-cash losses attributable to fluctuations in currency values; (vi) non-cash charges attributable
to the issuance and/or exercise of employee non-cash stock compensation to the extent permitted by this Agreement; (vii) non-cash
losses or charges resulting from the impact of purchase accounting adjustments in connection with any Permitted Acquisition; (viii) other
non-cash losses or charges deducted in determining net income (including, without limitation, non-cash losses or charges resulting from
the application of Statement of Financial Accounting Standards No. 142, Goodwill and other Intangible Assets (FAS-142) and FAS-144,
Accounting for Impairment of Long-Lived Assets); (ix) losses attributable to the early retirement of Indebtedness (other than the
Obligations); (x) transaction related fees and expenses incurred in connection with any (1) Permitted Asset Disposition, (2) Permitted
Acquisition or (3) Acquisition that has not been consummated in an amount not to exceed $250,000 for any individual Acquisition
or $500,000 in the aggregate for such period for all Acquisitions, all as approved by Agent in its Permitted Discretion; (xi) indemnification
payments made by the Obligors and for which the Obligors have received reimbursement from third parties; (xii) fees and expenses
of advisors and independent consultants retained by Obligors and approved by Agent in its Permitted Discretion, provided, that
the aggregate amount of such fees and expenses added back to EBITDA pursuant to this clause (b)(xii) shall not exceed $250,000 during
any Fiscal Quarter; (xiii) fees and expenses paid to members of the Board of Directors of the Company in an aggregate amount not
to exceed $500,000 during any twelve-month period; (xiv) restructuring charges; (xv) earn-out and severance payments; provided
that the sum of the aggregate amounts added back pursuant to clauses (b)(xii), (b)(xiii), (b)(xiv) and (b)(x) shall not
exceed the greater of $1,000,000 and 10% of EBITDA (calculated prior to giving effect to any adjustment pursuant to (b)(xii), (b)(xiii),
(b)(xiv) and (b)(x))in the aggregate for any period of twelve consecutive months ending on or after May 31, 2020; provided,
further that the limitations on fees and expenses in this clause (xv) and in clause (xii) shall not apply to any fees
and expenses of Winter Harbor and any investment bank retained by the Borrowers; (xvi) losses arising from the sale of fixed or
capital assets; (xvii) cost, fees and expenses incurred in connection with the incurrence of Indebtedness or the issuance of Equity
Interests expressly permitted under this Agreement and costs, fees and expenses, incurred in connection with any amendments, modifications
or waivers thereof; and (xviii) costs, fees and expenses (including, without limitation, non-recurring fees paid to the Agent) incurred
in connection with all amendments and other waivers and modifications to the Loan Documents; minus the sum (without duplication)
of the following: (i) non-cash income or gains resulting from the write-up of goodwill, furniture, fixtures, equipment and software;
(ii) non-cash income or gains attributable to fluctuations in currency values; (iii) any other non-cash income or gains; (iv) income
or gains arising from the sale of fixed or capital assets; (v) income or gains attributable to the early retirement of Indebtedness
(other than the Obligations); and (vi) any other non-recurring or extraordinary gains (in each case, to the extent included in determining
net income).

 

Anything to contrary contained in the foregoing
notwithstanding, and without duplication of the any other provisions hereof, the incurrence of CARES Debt shall not result in any increase
in EBITDA. Following the CARES Forgiveness Date, the amount of CARES Debt, if any, that is actually forgiven pursuant to the provisions
of the CARES Act – Title 1 may be included in EBITDA for the period in which such CARES Debt is actually forgiven.

 

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.

 

    -14-

     

    

 

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 owing to an Obligor that arises in the Ordinary Course of Business from the sale of goods, is payable in Dollars,
Canadian Dollars or GBP and is deemed by Agent, in its Permitted Discretion, to be an Eligible Account. Without limiting the foregoing,
no Account shall be an Eligible Account if (a) it is unpaid for more than 60 days after the original due date, or more than 120
days after the original invoice date; (b) 50% or more of the Accounts owing by the Account Debtor are not Eligible Accounts as a
result of the application of the foregoing clause (a); (c) when aggregated with other Accounts owing by the Account Debtor and its
Affiliates, it exceeds 15% of the aggregate Eligible Accounts (or such higher percentage as Agent may establish for the Account Debtor
from time to time) (provided that, only the amount of Accounts in excess of the percentage set forth in this clause (c) (or
such higher percentage as Agent may establish with respect to any Account Debtor in accordance with this clause (c)) shall be deemed
ineligible under this clause (c)), provided, further, that this clause (c) shall not apply to the following Account
Debtors: (i) the Amazon Companies, (ii) the Wal-Mart Companies, or (iii) the Target Companies; (d) with respect to
any Account owing from the Amazon Companies, when aggregated with other Accounts owing from the Amazon Companies, it exceeds 45%
of the aggregate Eligible AccountsAmazon
Companies Account Concentration Limit, provided, however, that if, at any time, the corporate credit rating
of Amazon.com, Inc. falls below “BBB-” (by S&P or Fitch) or “Baa3” (by Moody’s), the Agent shall
have the right, in its sole discretion to decrease such maximum percentage (provided further, that only the amount of Accounts
in excess of the percentage set forth in this clause (d) (or such lower percentage as shall be specified by Agent in accordance
with the foregoing proviso) shall be deemed ineligible under this clause (d)); (e) with respect to any Account owing from the Wal-Mart
Companies, when aggregated with other Accounts owing from the Wal-Mart Companies, it exceeds 35% of the aggregate Eligible Accounts,
(provided, that only the amount of Accounts in excess of the percentage set forth in this clause (e) shall be deemed ineligible
under this clause (e)); (f) with respect to any Account owing by the Target Companies, when aggregated with other Accounts owing
by the Target Companies, it exceeds 35%, provided, however, that, if at any time, the corporate credit rating of Target Corporation falls
below “A” (by S&P), “A-” (by Fitch) or “A2” (by Moody’s), Agent shall have the right, in
its sole discretion, to decrease such maximum percentage (provided further, that only the amount of Accounts in excess of the percentage
set forth in this clause (f) (or such lower percentage as shall be specified by Agent in accordance with the foregoing proviso)
shall be deemed ineligible under this clause (f)); (g) it does not conform with a covenant or representation herein in all material
respects, except (A) to the extent that such representations and warranties specifically refer to an earlier date, in which case
they shall be true and correct as of such earlier date, and (B) in the case of any representation and warranty qualified by “materiality”,
 “Material Adverse Effect”, or similar language, they shall be true and correct in all respects; (h) it is owing by a
creditor or supplier, or is otherwise subject to a potential offset, counterclaim, dispute, deduction, discount, recoupment, reserve,
defense, chargeback, credit or allowance (but ineligibility shall be limited to the amount thereof); (i) an Insolvency Proceeding
has been commenced by or against the Account Debtor or the Account Debtor has failed, has suspended or ceased doing business, is liquidating,
dissolving or winding up its affairs, is not Solvent, or is subject to any Sanction or on any specially designated nationals list maintained
by OFAC; or the Borrower is not able to bring suit or enforce remedies against the Account Debtor through judicial process; (j) the
Account Debtor is organized or has its principal offices or assets outside the United States, Canada or the United Kingdom, unless the
Account is (i) supported by a letter of credit (delivered to and directly drawable by Agent) satisfactory in all respects to Agent;
or (ii) is a Mexican subsidiary of Target Corporation or Wal-Mart Stores, Inc. and the aggregate amount of all Accounts deemed
eligible by this clause (j)(ii) does not exceed $1,000,000 at any time; (k) it is owing by a Governmental Authority, unless
the Account Debtor is the United States, Canada or any province or territory thereof or the United Kingdom or any department, agency
or instrumentality thereof and the Account has been assigned to Agent in compliance with the federal Assignment of Claims Act or other
Applicable Law (including the Financial Administration Act (Canada)); (l) it is not subject to a duly perfected, first priority
Lien in favor of Agent, or is subject to any other Lien, other than Liens permitted under clauses (b), (d), and (h) of Section 10.2
and any other Lien with respect thereto permitted under this Agreement that are subject to an intercreditor agreement in form and substance
reasonably satisfactory to Agent between the holder of such Lien and the Agent; (m) the goods giving rise to it have not been delivered
to the Account Debtor, or it otherwise does not represent a final sale; (n) it is evidenced by Chattel Paper or an Instrument of
any kind unless such Chattel Paper or Instrument is in the possession of the Agent, and to the extent necessary or appropriate, endorsed
to Agent, or has been reduced to judgment; (o) its payment has been extended or the Account Debtor has made a partial payment, provided,
that, with respect to any Account for which partial payment has been made, only the Account for which a partial payment has been made
(and not any other Account owing from the same Account Debtor) shall be deemed ineligible under this clause (o); (p) it arises from
a sale to an Affiliate, from a sale on a cash-on-delivery, bill-and-hold, sale-or-return, sale-on-approval, consignment, or other repurchase
or return basis, or from a sale for personal, family or household purposes; (q) it represents a progress billing or retainage, or
relates to services for which a performance, surety or completion bond or similar assurance has been issued; or (r) it includes
a billing for interest, fees or late charges, but ineligibility shall be limited to the extent thereof. In calculating delinquent portions
of Accounts under clauses (a) and (b), credit balances more than 120 days old will be excluded.

 

    -15-

     

    

 

Eligible Assignee:
a Person that is (a) a Lender, Affiliate of a Lender or Approved Fund; (b) any other financial institution approved by Borrower
Agent (which approval shall not be unreasonably withheld or delayed, and shall be deemed given if no objection is made within two Business
Days after notice of the proposed assignment) and Agent, which extends revolving credit facilities of this type in its ordinary course
of business; and (c) during any Event of Default, any Person acceptable to Agent in its discretion; provided, that, in no
event shall the term “Eligible Assignee” include any Competitor.

 

Eligible In-Transit Inventory:
Inventory owned by a Borrower or Guarantor that would be Eligible Inventory if it were not subject to a Document and in transit from
a foreign location to a location of the applicable Borrower or Guarantor within the United States, Canada or the United Kingdom, and
that Agent, in its Permitted Discretion, deems to be Eligible In-Transit Inventory. Without limiting the foregoing, no Inventory shall
be Eligible In-Transit Inventory unless it (a) is subject to a negotiable Document showing Agent (or, with the consent of Agent,
the applicable Borrower or Guarantor) as consignee, which Document is in the possession of Agent or such other Person as Agent shall
approve; (b) is fully insured by marine cargo or other similar insurance, in such amounts, with such insurance companies and subject
to such deductibles as are reasonably satisfactory to Agent and in respect of which Agent has been named as lenders loss payee; (c) is
not sold by a vendor that has a right to reclaim, divert shipment of, repossess, stop delivery, claim any reservation of title or otherwise
assert Lien rights against the Inventory, or with respect to whom any Borrower or Guarantor is in default of any obligations; (d) is
evidenced by a full set of clean, original negotiable bills of lading consigned to the order of Agent and such original bills of lading
are in the possession of Agent or a customs broker from whom Agent has received an executed Customs Broker Agreement with respect to
such inventory and title has passed to the applicable Borrower or Guarantor at the time such inventory is delivered to the common carrier;
(e) is shipped by a common carrier that is not affiliated with the vendor and is not subject to any Sanction or on any specially
designated nationals list maintained by OFAC; and (f) is being handled by a customs broker, freight-forwarder or other handler that
has delivered a Lien Waiver.

 

    -16-

     

    

 

Eligible
In-Transit Inventory Revolver Borrowing Base Cap: (a) solely from September 22, 2021 through and including April 2, 2022,
$11,000,000, and (b) at all other times (including, for the avoidance of doubt, at all times on and after April 3, 2022), $7,000,000.

 

Eligible Inventory:
Inventory owned by a Borrower or Guarantor that Agent, in its Permitted Discretion, deems to be Eligible Inventory. Without limiting
the foregoing, no Inventory shall be Eligible Inventory unless it (a) is finished goods or raw materials, and not work-in-process,
packaging or shipping materials, labels, samples, display items, bags, replacement parts or manufacturing supplies, provided that component
parts and replacement parts shall not be deemed ineligible under this clause (a) to the extent the most recent inventory appraisal
delivered to Agent ascribes a value to such component parts and/or replacement parts; (b) is not held on consignment, nor subject
to any deposit or down payment; (c) is in saleable condition and is not damaged, defective, shopworn or otherwise unfit for sale;
(d) is not slow-moving, perishable, obsolete or unmerchantable, and does not constitute returned or repossessed goods, provided
that slow-moving or obsolete inventory shall not be deemed ineligible under this clause (d) to the extent the most recent inventory
appraisal delivered to Agent ascribes a value to such slow-moving or obsolete inventory; (e) meets all standards imposed by any
Governmental Authority, has not been acquired from a Person subject to any Sanction or on any specially designated nationals list maintained
by OFAC, and does not constitute hazardous materials under any Environmental Law; (f) conforms with the covenants and representations
herein; (g) is subject to Agent’s duly perfected, first priority Lien, and no other Lien; (h) is within the continental
United States, New Brunswick or Ontario, Canada, or the United Kingdom, is not in transit except between locations of Borrowers or Guarantors,
unless such inventory constitutes Eligible In-Transit Inventory and is not consigned to any Person; (i) is not subject to any warehouse
receipt or negotiable Document (other than Eligible In-Transit Inventory subject to a Lien Waiver); (j) is not subject to any License
or other property or property right or other arrangement that restricts such Borrower’s or Agent’s right to dispose of such
Inventory, unless Agent has received an appropriate Lien Waiver or is otherwise satisfied that it could sell such inventory without infringing
on the rights of such licensor following an Event of Default; (k) is not located on leased premises or in the possession of a warehouseman,
processor, repairman, mechanic, shipper, freight forwarder or other Person, unless the lessor or such Person is an Approved Processor
and (i) has delivered a Lien Waiver or (ii) an appropriate Rent and Charges Reserve has been established for such location;
and (l) is reflected in the details of a current perpetual inventory report.

 

Enforcement Action:
any action to enforce any Obligations (other than Secured Bank Product Obligations) or Loan Documents or to exercise any rights or remedies
relating to any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment,
credit bid, deed in lieu of foreclosure, exercise of any right to act in an Obligor’s Insolvency Proceeding or to credit bid Obligations,
or otherwise).

 

Environmental Laws:
all Applicable Laws and agreements with Governmental Authorities (including all programs, permits and guidance promulgated by regulatory
agencies), relating to public health and safety matters or conditions (but excluding occupational safety and health, to the extent regulated
by OSHA) or the protection or pollution of the environment, including but not limited to CERCLA, RCRA and CWA.

 

Environmental Notice:
a notice (whether written or oral) from any Governmental Authority or other Person of any possible noncompliance with, investigation
of a possible violation of, litigation relating to, or potential fine or liability under any Environmental Law, or with respect to any
Environmental Release, environmental pollution or hazardous materials, including any complaint, summons, citation, order, claim, demand
or request for correction, remediation or otherwise.

 

Environmental Release:
a release as defined in CERCLA or under any other Environmental Law.

 

    -17-

     

    

 

Equity Interest: the
interest of any (a) shareholder in a corporation; (b) partner in a partnership (whether general, limited, limited liability
or joint venture); (c) member in a limited liability company; or (d) other Person having any other form of equity security
or ownership interest.

 

ERISA: the Employee
Retirement Income Security Act of 1974.

 

ERISA Affiliate: any
trade or business (whether or not incorporated) under common control with an Obligor 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) a
Reportable Event with respect to a Pension Plan; (b) a withdrawal by any Obligor or ERISA Affiliate from a Pension Plan subject
to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of
ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete
or partial withdrawal by any Obligor or ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization;
(d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or
4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan; (e) the determination that any Pension
Plan is considered an at risk plan or a plan in critical or endangered status under the Code, ERISA or the Pension Protection Act of
2006; (f) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment
of a trustee to administer, any Pension Plan; (g) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums
due but not delinquent under Section 4007 of ERISA, upon any Obligor or ERISA Affiliate; or (h) failure by an Obligor or ERISA
Affiliate to meet all applicable requirements under the Pension Funding Rules in respect of a Pension Plan, whether or not waived,
or to make a required contribution to a Multiemployer Plan.

 

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

 

Event of Default:
as defined in Section 11.

 

Excluded Deposit Account:
a Deposit Account maintained by any Obligor (a) which has been established and is used exclusively for the sole purpose of making
payroll and withholding tax payments related thereto and other employee wage and benefit payments to or for the benefit of such Obligor's
employees and accrued and unpaid employee compensation (including salaries, wages, benefits and expense reimbursements), (b) which
is a zero balance operational disbursement or similar account, (c) has been established and is used exclusively for the sole purpose
of making and remitting sales and use taxes, VAT and/or such Canadian sales and use tax equivalents or (d) which is used for petty
cash or similar purposes so long as the amount on deposit (i) in each such individual Deposit Account described in this clause (d) does
not exceed $10,000 during any period of seventy-two consecutive hours and (ii) in all Deposit Accounts referred to in this clause
(d) does not exceed $50,000 in the aggregate during any period of seventy-two consecutive hours. Anything to the contrary contained
in this Agreement notwithstanding, the CARES Account shall be deemed to be an Excluded Deposit Account.

 

Excluded Swap Obligation:
with respect to an Obligor, each Swap Obligation as to which, and only to the extent that, such Obligor's guaranty of or grant of a Lien
as security for such Swap Obligation is or becomes illegal under the Commodity Exchange Act because the Obligor does not constitute an
 "eligible contract participant" as defined in the act (determined after giving effect to any keepwell, support or other agreement
for the benefit of such Obligor and all guarantees of Swap Obligations by other Obligors) when such guaranty or grant of Lien becomes
effective with respect to the Swap Obligation. If a Hedging Agreement governs more than one Swap Obligation, only the Swap Obligation(s) or
portions thereof described in the foregoing sentence shall be Excluded Swap Obligation(s) for the applicable Obligor.

 

    -18-

     

    

 

Excluded Taxes: (a) Taxes
imposed on or measured by a Recipient's net income (however denominated), franchise Taxes and branch profits Taxes (i) as a result
of such Recipient being organized under the laws of, or having its principal office or applicable Lending Office located in, the jurisdiction
imposing such Tax, or (ii) constituting Other Connection Taxes; (b) U.S. federal and Canadian federal withholding Taxes imposed
on amounts payable to or for the account of a Lender with respect to its interest in a Loan or Commitment pursuant to a law in effect
when the Lender acquires such interest (except pursuant to an assignment request by Borrower Agent under Section 13.4) or
changes its Lending Office, unless the Taxes were payable to its assignor immediately prior to such assignment or to the Lender immediately
prior to its change in Lending Office; (c) Taxes attributable to a Recipient's failure to comply with Section 5.10;
and (d) U.S. federal withholding Taxes imposed pursuant to FATCA. In no event shall "Excluded Taxes" include any U.S.
withholding Tax imposed on amounts paid by or on behalf of a foreign Obligor to a Recipient that has complied with Section 5.10.2.

 

Existing Credit Agreement:
as defined in the preamble to this Agreement.

 

Existing Letter of Credit:
any letter of credit that (a) was issued by the Issuing Bank under the Existing Credit Agreement, (b) is outstanding on the
Restatement Date, and (c) is listed on Schedule 1.1(c).

 

Extraordinary Expenses:
all costs, expenses or advances that Agent, Issuing Bank or Lenders may incur during a Default or Event of Default, or during the
pendency of an Insolvency Proceeding of an Obligor, including those relating to: (a) any audit, inspection, repossession, storage,
repair, appraisal, insurance, manufacture, preparation or advertising for sale, sale, collection, or other preservation of or realization
upon any Collateral; (b) any action, arbitration or other proceeding (whether instituted by or against Agent, any Lender, any Obligor,
any representative of creditors of an Obligor or any other Person) in any way relating to any Collateral (including the validity, perfection,
priority or avoidability of Agent’s Liens with respect to any Collateral), Loan Documents, Letters of Credit or Obligations, including
any lender liability or other Claims; (c) the exercise, protection or enforcement of any rights or remedies of Agent in, or the
monitoring of, any Insolvency Proceeding; (d) settlement or satisfaction of any taxes, charges or Liens with respect to any Collateral;
(e) any Enforcement Action; (f) negotiation and documentation of any modification, waiver, workout, restructuring or forbearance
with respect to any Loan Documents or Obligations; and (g) Protective Advances. “Extraordinary Expenses” shall include
transfer fees, Other Taxes, storage fees, insurance costs, permit fees, utility reservation and standby fees, legal fees, appraisal fees,
brokers’ fees and commissions, auctioneers’ fees and commissions, accountants’ fees, environmental study fees, wages
and salaries paid to employees of any Obligor or independent contractors in liquidating any Collateral, and travel expenses.

 

Fair Salable Value:
the amount that could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling
conditions by a capable and diligent seller to an interested buyer who is willing (but under no compulsion) to purchase.

 

FATCA: Sections 1471
through 1474 of the Code (including any amended or successor version if substantively comparable and not materially more onerous to comply
with), and any agreements entered into pursuant to Section 1471(b)(1) of the Code.

 

Federal Funds Rate:
(a) the weighted average of interest rates on overnight federal funds transactions with members of the Federal Reserve System arranged
by federal funds brokers on the applicable Business Day (or on the preceding Business Day, if the applicable day is not a Business Day),
as published by the Federal Reserve Bank of New York on the next Business Day; or (b) if no such rate is published on the next Business
Day, the average rate (rounded up, if necessary, to the nearest 1/8 of 1%) charged to Bank of America on the applicable day on such transactions,
as determined by Agent.

 

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Fee Letter: that certain
amended and restated fee letter dated as of the Restatement Date among Agent and Company as amended from time to time.

 

FILO Borrowing Base:
on any date of determination, an amount equal to the sum of (a) the Applicable FILO Account Advance Percentage of the Value of Eligible
Accounts, plus (b) the Applicable FILO Inventory Advance Percentage of the Value of Eligible Inventory (excluding Specified
Inventory), provided, that the Agent shall have the right, in its Permitted Discretion, to reduce such percentages at any time upon three
(3) Business Days prior notice to the Borrower Agent, and provided further that (i) Eligible In-Transit Inventory shall in
no event contribute more than $1,000,000 (after giving effect to the percentage set forth in clause (b) above) to the FILO Borrowing
Base at any time and (ii) Eligible Accounts owing to and Eligible Inventory held by the UK Guarantors shall not contribute more
than an aggregate of $500,000 (after giving effect to the percentages set forth in clauses (a) and (b) above, respectively)
to the FILO Borrowing Base at any time. If any amount in this definition is stated in a currency other than Dollars on any date, then
such amount on such date shall be equal to the Dollar Equivalent of such amount in such other currency.

 

FILO Commitment: for
any Lender, its obligation to make FILO Loans up to a maximum principal amount equal to its Applicable FILO Percentage (as shown on Schedule
1.1(a), as hereafter modified pursuant to an Assignment and Acceptance to which it is a party, or pursuant to Section 2.1.4)
of the Aggregate FILO Commitment Amount at such time.

 

FILO Commitments:
the aggregate FILO Commitments of all Lenders which, during any applicable period, shall equal the Aggregate FILO Commitment Amount for
such period.

 

FILO Exposure: at
any time, the outstanding principal amount of FILO Loans at such time.

 

FILO Loan: a loan
made pursuant to Section 2.1.1(b)(i).

 

FILO Overadvance:
as defined in Section 2.1.5.

 

FILO Termination Date:
the earliest to occur of (a) October 15, 2024; (b) the date on which Borrowers terminate the FILO Commitments pursuant
to Section 2.1.4; (c) the date on which the FILO Commitments are terminated pursuant to Section 11.2; and
(d) the Revolver Termination Date.

 

Financial Consultant:
Winter Harbor LLC.

 

Financial Covenant Testing
Period: (a) the period commencing on the Restatement Date and continuing through the date that the FILO Loan and Term Loan shall
have been repaid in full; and (b) from and after the repayment in full of the FILO Loan and Term Loan, each time that a Financial
Covenant Trigger Date shall occur, the period (i) commencing on the last day of the Fiscal Month for which financial statements
have been (or are required to have been) delivered to Agent immediately prior to such Financial Covenant Trigger Date, and (ii) continuing
thereafter until Availability for sixty (60) consecutive days shall have exceeded the Financial Covenant Trigger Amount.

 

Financial Covenant Trigger
Amount: $5,000,000.

 

Financial Covenant Trigger
Date: any date on which Availability falls below the Financial Covenant Trigger Amount.

 

First
Amendment: Amendment No.‎ 1 to Third Amended and Restated Loan and Security Agreement dated as of the First Amendment Effective Date,
by and among Obligors, Bank of America, N.A., as the sole existing Lender under this Agreement as of the First Amendment Effective Date,
and Agent.

 

    -20-

     

    

 

First
Amendment Effective Date: the effective date of the First Amendment, which effective date is January 28, 2022.

 

Fiscal Month: any
fiscal month of any Fiscal Year, which fiscal month shall consist of either four or five weeks and generally end on the Saturday closest
to the last day of each calendar month in accordance with the fiscal accounting calendar of the Company and its Subsidiaries.

 

Fiscal Quarter: any
fiscal quarter of any Fiscal Year, which fiscal quarter shall consist of thirteen weeks divided into three Fiscal Months of four, four
and five weeks, which fiscal quarters shall generally end on the Saturday closest to the last day of March, June, September and
December of each Fiscal Year in accordance with the fiscal accounting calendar of the Company and its Subsidiaries.

 

Fiscal Year: the fiscal
year of Company and its Subsidiaries for accounting and tax purposes, generally ending on the Saturday closest to the last day of December of
each year.

 

Fixed Charge Coverage
Ratio: the ratio, determined on a consolidated basis for Company and its Subsidiaries for the most recent period of twelve consecutive
months, of (a) EBITDA minus Capital Expenditures (except those financed with (i) Borrowed Money other than FILO Loans or Revolver
Loans or (ii) proceeds of Casualty Events or the issuance of Equity Interests to the extent such Capital Expenditures are made substantially
contemporaneously with the receipt of such proceeds) and cash taxes paid for such period, to (b) Fixed Charges paid in cash during
such period.

 

Fixed Charges: the
sum of cash interest expense (other than payment-in-kind), principal payments made on Borrowed Money (including, without limitation,
the Term Loans, but excluding the Revolver Loans unless such principal payment of the Revolver Loans is accompanied by a permanent reduction
in the Revolver Commitments and excluding the FILO Loans unless such principal payment of the FILO Loans is accompanied by a permanent
reduction in the FILO Commitments), and Distributions made. Notwithstanding the foregoing, any principal payments made in connection
with the scheduled reductions to the Aggregate FILO Commitment Amount as provided for in the definition of “Aggregate FILO Commitment
Amount” in Section 1.1 shall not constitute “Fixed Charges” for purposes hereof. Notwithstanding the foregoing,
amounts paid on the Restatement Date to repay in full the “Term Debt” (as such term is defined in the Existing Credit Agreement)
shall not constitute “Fixed Charges” for purposes hereof. Anything to the contrary contained in the foregoing notwithstanding,
 “Fixed Charges” shall not include interest expense or principal payments on CARES Debt other than CARES Unforgiven Debt.

 

FLSA: the Fair Labor
Standards Act of 1938.

 

Foreign Lender: any
Lender that is not a U.S. Person.

 

Foreign Plan: any
employee benefit plan or arrangement (a) maintained or contributed to by any Obligor or Subsidiary that is not subject to the laws
of the United States or Canada; or (b) mandated by a government other than the United States, Canada or the United Kingdom for employees
of any Obligor or Subsidiary.

 

Foreign Subsidiary:
a Subsidiary that is a “controlled foreign corporation” under Section 957 of the Code, such that a guaranty by such
Subsidiary of the Obligations or a Lien on the assets of such Subsidiary to secure the Obligations would result in material tax liability
to Borrowers, provided, however, that SI Canada and SI UK shall be deemed to not be Foreign Subsidiaries.

 

    -21-

     

    

 

FRBNY:
the Federal Reserve Bank of New York.

 

Fronting Exposure:
a Defaulting Lender’s Applicable Percentage of LC Obligations or Swingline Loans, as applicable, except to the extent allocated
to other Lenders under Section 4.2.

 

Full Payment: with
respect to any Obligations, (a) the full cash payment thereof, including any interest, fees and other charges accruing during an
Insolvency Proceeding (whether or not allowed in the proceeding); and (b) if such Obligations are LC Obligations or inchoate or
contingent in nature, Cash Collateralization thereof (or delivery of a standby letter of credit acceptable to Agent in its reasonable
discretion, in the amount of required Cash Collateral). No Loans shall be deemed to have been paid in full until all Commitments related
to such Loans have expired or been terminated.

 

GAAP: generally accepted
accounting principles in effect in the United States from time to time.

 

GBP: means the lawful
currency of the United Kingdom of Great Britain and Northern Ireland.

 

Governmental Approvals:
all authorizations, consents, approvals, licenses and exemptions of, registrations and filings with, and required reports to, all Governmental
Authorities.

 

Governmental Authority:
any federal, state, provincial, territorial, municipal, local, foreign or other agency, authority, body, commission, court, instrumentality,
political subdivision, or other entity or officer exercising executive, legislative, judicial, regulatory or administrative functions
for any governmental, judicial, investigative, regulatory or self-regulatory authority, in each case whether associated with the United
States, a state, district or territory thereof, Canada, a province or territory thereof, the United Kingdom or a country thereof or any
other foreign entity or government (including the Financial Conduct Authority, the Prudential Regulation Authority and any supra-national
bodies such as the European Union or the European Central Bank).

 

Guarantor Payment:
as defined in Section 5.11.3.

 

Guarantors: SI Canada,
SI UK and each other Person who guarantees payment or performance of any Obligations.

 

Guaranty: Section 14
of this Agreement and each guaranty agreement executed by a Guarantor in favor of Agent, including, without limitation, the Canadian
Guaranty and the UK Guaranty.

 

Hedging Agreement:
any “swap agreement” as defined in Section 101(53B)(A) of the Bankruptcy Code.

 

Immaterial Foreign Subsidiary:
shall mean, at any date of determination after the Restatement Date, any Foreign Subsidiary of a Borrower (a) the total assets of
which, in the aggregate with all other Immaterial Foreign Subsidiaries, determined as of the Fiscal Quarter most recently ended, were
less than 2.0% of the Consolidated Total Assets of the Borrowers and their Subsidiaries as of such date of determination, and (b) the
Consolidated EBITDA attributable to such Foreign Subsidiary for the period of four (4) consecutive Fiscal Quarters ending on such
date does not exceed, in the aggregate with all other Immaterial Foreign Subsidiaries, 2.0% of the Consolidated EBITDA of the Borrowers
and their Subsidiaries for such period, in each case determined in accordance with GAAP; provided, that (i) Borrowers shall not
designate any additional Foreign Subsidiary as an Immaterial Foreign Subsidiary if such designation would result in a failure to comply
with the provisions set forth in clause (a) or (b) immediately above and (ii) no Foreign Subsidiary that owns any other
Foreign Subsidiary that fails to comply with clause (a) or (b) above shall be deemed to be an Immaterial Foreign Subsidiary;
and provided, further, if the total assets and/or gross revenues of all Foreign Subsidiaries so designated by the Borrowers as “Immaterial
Foreign Subsidiaries” shall at any time exceed the limits set forth in either clause (a) or (b) immediately above, then
the Borrowers shall promptly re-designate one or more of such Foreign Subsidiaries as not constituting Immaterial Foreign Subsidiaries,
in each case in a written notice to Agent, so that, as result of such re-designation, the total assets and gross revenues of all Foreign
Subsidiaries still designated as “Immaterial Foreign Subsidiaries” do not exceed such limits.

 

    -22-

     

    

 

Increased Field Exam/Appraisal
Period: with respect to the occurrence of any Increased Field Exam/Appraisal Trigger Date, the period (a) commencing on the
Increased Field Exam/Appraisal Trigger Date and (b) continuing until Availability for thirty (30) consecutive days shall have exceeded
20% of the aggregate Revolver Commitment then in effect.

 

Increased Field Exam/Appraisal
Trigger Date: any date on which Availability for thirty (30) consecutive days shall have been less than 20% of the aggregate Revolver
Commitment as of such date.

 

Indebtedness: shall
have the same meaning as “Debt”, as such term is defined herein.

 

Indemnified Taxes:
(a) Taxes other than Excluded Taxes, imposed on or relating to any payment of an Obligation; and (b) to the extent not otherwise
described in clause (a), Other Taxes.

 

Indemnitees: Agent
Indemnitees, Lender Indemnitees, Issuing Bank Indemnitees and Bank of America Indemnitees.

 

Initial Brand Appraisal:
as defined in the definition of “Brand Appraisal”.

 

Insolvency Law: collectively,
the Bankruptcy Code, or any other insolvency, debtor relief, debt adjustment, arrangement, receivership, or similar law (whether state,
provincial, territorial, federal or foreign), including, without limitation, the Bankruptcy and Insolvency Act (Canada), the Companies’
Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act, any applicable governing corporate statutes providing for arrangements,
and the Insolvency Act 1986 (UK).

 

Insolvency Proceeding:
(a) any case or proceeding commenced by or against a Person under any state, provincial, territorial, federal or foreign law for,
or any agreement of such Person to, (i) the seeking or any entry of an order for relief under any Insolvency Law; (ii) the
appointment of a receiver, interim receiver, monitor, reviewer and manager, trustee, liquidator, administrator, conservator or other
custodian for such Person or any part of its Property; or (iii) an assignment or trust mortgage for the benefit of creditors; or
(b) any proceeding commenced by or against a Person under any provision of the Insolvency Act 1986 (UK), the Corporate Insolvency &
Governance Act 2020 (UK) or under any other insolvency law of any jurisdiction of the United Kingdom.

 

Intellectual Property:
all present and future: trade secrets, know-how and other proprietary information; trademarks, trademark applications, 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 all registrations or applications for registrations
which have heretofore been or may hereafter be issued thereon throughout the world and including the goodwill associated therewith; copyrights,
copyrightable works (registered or unregistered) and copyright applications (including copyrights for computer programs) and all tangible
and intangible property embodying the copyrights, unpatented inventions (whether or not patentable); patents and patent applications
and patent disclosures; 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, all rights in computer
software including source codes, object codes, and executable code, data, databases and other physical manifestations, embodiments or
incorporations of any of the foregoing; all other intellectual property and any proceeds and products thereof; and all common law and
other rights throughout the world in and to all of the foregoing.

 

    -23-

     

    

 

Intellectual Property
Claim: any claim or assertion (whether in writing or by suit) that a Borrower’s or Subsidiary’s ownership, use, marketing,
sale or distribution of any Inventory, Equipment, Intellectual Property or other Property violates another Person’s Intellectual
Property.

 

Intercreditor
Agreement: the Intercreditor and Subordination Agreement dated as of January 28, 2022 among the Second Lien Lenders, the Second
Lien Agent, Borrowers and Agent, as the same may be amended, restated, supplemented or otherwise modified from time to time.

 

Interest
Payment Date: (a) for each BSBY Loan, the last day of the applicable Interest Period and, if the Interest Period is more than three
months, each three month anniversary of the beginning of the Interest Period; and (b) for all other Loans, the first day of each
calendar month.

 

Interest Period: as
defined in Section 3.1.3.

 

Inventory: as defined
in the UCC (or, with respect to any inventory of any Canadian Guarantor to which the PPSA is applicable, as defined in the PPSA), including
all goods intended for sale, lease, display or demonstration; all work in process; and all raw materials, and other materials and supplies
of any kind that are or could be used in connection with the manufacture, printing, packing, shipping, advertising, sale, lease or furnishing
of such goods, or otherwise used or consumed in a Borrower’s or Guarantor’s business (but excluding Equipment).

 

Inventory Formula Amount:
the lesser of (i) 70% of the Value of Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory.

 

Inventory Reserve:
reserves established by Agent to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence,
seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks.

 

Investment: an Acquisition;
an acquisition of record or beneficial ownership of any Equity Interests of a Person; or an advance or capital contribution to or other
investment in a Person.

 

IP Assignment: a collateral
assignment or security agreement pursuant to which an Obligor grants a Lien on its Intellectual Property to Agent, as security for its
Obligations.

 

IRS: the United States
Internal Revenue Service.

 

ISDA Definitions:
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 Bank: Bank
of America or any Affiliate of Bank of America, or any replacement issuer appointed pursuant to Section 2.3.4.

 

Issuing Bank Indemnitees:
Issuing Bank and its officers, directors, employees, Affiliates, agents and attorneys.

 

Judgment Currency:
as defined in Section 1.5.

 

    -24-

     

    

 

 

LC Application: an
application by Borrower Agent to Issuing Bank for issuance of a Letter of Credit, in form and substance satisfactory to Issuing Bank.

 

LC Conditions: the
following conditions necessary for issuance of a Letter of Credit: (a) each of the conditions set forth in Section 6;
(b) after giving effect to such issuance, total LC Obligations do not exceed the Letter of Credit Subline, no Revolver Overadvance
or FILO Overadvance exists and, if no Revolver Loans are outstanding, the LC Obligations do not exceed the Revolver Borrowing Base (without
giving effect to the LC Reserve for purposes of this calculation); (c) the expiration date of such Letter of Credit is (i) no
more than 365 days from issuance, in the case of standby Letters of Credit, and (ii) no more than 120 days from issuance, in the
case of documentary Letters of Credit; (d) the Letter of Credit and payments thereunder are denominated in Dollars; and (e) the
purpose and form of the proposed Letter of Credit is satisfactory to Agent and Issuing Bank in their discretion.

 

LC Documents: all documents,
instruments and agreements (including LC Requests and LC Applications) delivered by Borrowers or any other Person to Issuing Bank or Agent
in connection with any Letter of Credit.

 

LC Obligations: the
sum (without duplication) of (a) all amounts owing by Borrowers for any drawings under Letters of Credit; and (b) the Stated
Amount of all outstanding Letters of Credit.

 

LC Request: a request
for issuance of a Letter of Credit, to be provided by Borrower Agent to Issuing Bank, in form satisfactory to Agent and Issuing Bank.

 

LC Reserve: the aggregate
of all LC Obligations, other than those that have been Cash Collateralized by Borrowers.

 

Lender Indemnitees:
Lenders and Secured Bank Product Providers and their officers, directors, employees, Affiliates, agents and attorneys.

 

Lenders: as defined
in the preamble to this Agreement, including Agent in its capacity as a provider of Swingline Loans and any other Person who hereafter
becomes a “Lender” pursuant to an Assignment and Acceptance, including any Lending Office of the foregoing.

 

Lending Office: the
office designated as such by the applicable Lender at the time it becomes party to this Agreement or thereafter by notice to Agent and
Borrower Agent.

 

Letter of Credit: any
standby or documentary letter of credit (including any Existing Letter of Credit) issued by Issuing Bank for the account of an Obligor,
or any indemnity, guarantee, exposure transmittal memorandum or similar form of credit support issued by Agent or Issuing Bank for the
benefit of an Obligor.

 

Letter of Credit Subline:
$5,000,000.

 

LIBOR:
the per annum rate of interest (rounded up to the nearest 1/8th of 1% and in no event less than zero) determined by Agent at or about
11:00 a.m. (London time) two Business Days prior to an
interest period, for a term equivalent to such period, equal to the
London Interbank Offered Rate, or comparable or successor rate approved by Agent, as published on
the applicable Reuters screen page (or other commercially available source designated by Agent from
time to time); provided, that any comparable or successor rate
shall be applied by Agent, if administratively feasible, in a manner consistent with market practice; and provided
further, that in no event shall LIBOR be less than 0.375%.

 

LIBOR
FILO Loan: a FILO Loan that bears interest based on LIBOR.

 

    	 	-25-	 

     

    

 

LIBOR
Loan: each set of LIBOR Revolver Loans having a common length and commencement of Interest Period.

 

LIBOR
Replacement Date: as defined in Section 3.6.2.

 

LIBOR
Revolver Loan: a Revolver Loan that bears interest based on LIBOR.

 

LIBOR
Term Loan: a Term Loan that bears interest based on LIBOR.

 

LIBOR
Screen Rate: the LIBOR quote on the applicable screen page Agent designates to determine LIBOR (or such
other commercially available source providing such quotations as may be designated by Agent from time to time).

 

LIBOR
Successor Rate: as defined in Section 3.6.2.

 

LIBOR
Successor Rate Conforming Changes: with respect to any proposed LIBOR Successor Rate,
any conforming changes to the definition of Base Rate, Interest
Period, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational
matters (including, for the avoidance of doubt, the definition of Business Day, timing of borrowing requests or prepayment, conversion
or continuation notices, and length of look-back periods) as may be
appropriate, in Agent's discretion, to reflect the adoption and implementation of such LIBOR Successor
Rate and to permit the administration thereof by Agent in a manner substantially consistent with market
practice (or, if Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market
practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration
as Agent determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document).

 

License: any license
or agreement under which an Obligor is authorized to use Intellectual Property in connection with any manufacture, marketing, distribution
or disposition of Collateral, any use of Property or any other conduct of its business.

 

Licensor: any Person
from whom an Obligor obtains the right to use any Intellectual Property.

 

Lien: any Person’s
interest in Property securing an obligation owed to, or a claim by, such Person, including any lien, security interest, pledge, hypothecation,
trust, reservation, encroachment, easement, right-of-way, covenant, condition, restriction, leases, or other title exception, adverse
right/ claim or interest or deemed trust, or encumbrance.

 

Lien Waiver: an agreement,
in form and substance reasonably satisfactory to Agent, by which (a) for any material Collateral located on leased premises, the
lessor waives or subordinates any Lien it may have on the Collateral, and agrees to permit Agent to enter upon the premises and remove
the Collateral or to use the premises to store or dispose of the Collateral; (b) for any Collateral held by a warehouseman, processor,
shipper, customs broker or freight forwarder, such Person waives or subordinates any Lien it may have on the Collateral, agrees to hold
any Documents in its possession relating to the Collateral as agent for Agent, and agrees to deliver the Collateral to Agent upon request;
(c) for any Collateral held by a repairman, mechanic or bailee, such Person acknowledges Agent’s Lien, waives or subordinates
any Lien it may have on the Collateral, and agrees to deliver the Collateral to Agent upon request; and (d) for any Collateral subject
to a Licensor’s Intellectual Property rights, the Licensor grants to Agent the right, vis-à-vis such Licensor, to enforce
Agent’s Liens with respect to the Collateral, including the right to dispose of it with the benefit of the Intellectual Property,
whether or not a default exists under any applicable License.

 

Loan: a Revolver Loan,
a FILO Loan or a Term Loan.

 

    	 	-26-	 

     

    

 

Loan Documents: this
Agreement, Other Agreements and Security Documents.

 

Loan Year: each 12
month period commencing on the Restatement Date and on each anniversary of the Restatement Date.

 

Margin Stock: as defined
in Regulation U of the Board of Governors.

 

Material Adverse Effect:
the effect of any event, fact, circumstance or change that, taken alone or in conjunction with other events or circumstances, (a) has
a material adverse effect on the business, assets, Properties, liabilities, operations, or financial condition of the Obligors, taken
as a whole, on the value of any material Collateral, on the enforceability of any Loan Document, or on the validity or priority of Agent’s
Liens on any material portion of the Collateral; (b) that could materially impair the ability of the Obligors, taken as a whole,
to perform their obligations under the Loan Documents, including repayment of any Obligations; (c) that could reasonably be expected
to materially and adversely affect the Loans or the transactions contemplated by this Agreement and the Loan Documents; or (d) otherwise
materially impairs the ability of Agent or any Lender to enforce or collect any Obligations or realize upon any material portion of the
Collateral. In determining whether any individual event would result in a Material Adverse Effect, notwithstanding that such event in
and of itself does not have such effect, a Material Adverse Effect shall be deemed to have occurred if the cumulative effect of such event
and all other then-existing events would result in a Material Adverse Effect.

 

Material Contract:
any agreement or arrangement to which an Obligor is party (other than the Loan Documents) (a) that is deemed to be a material contract
under any securities law applicable to such Person, including the Securities Act of 1933; or (b) that relates to Subordinated Debt,
or to Debt in an aggregate amount of $3,000,000 or more.

 

Moody’s: Moody’s
Investors Service, Inc., and its successors.

 

Multiemployer Plan:
any Benefit Plan of the type described in Section 4001(a)(3) of ERISA, to which any Obligor or ERISA Affiliate makes or is obligated
to make contributions, or during the preceding five plan years, has made or been obligated to make contributions.

 

Multiple Employer Plan:
a Plan with two or more contributing sponsors, including an ‎Obligor or ERISA Affiliate, at least two of whom are not under common
control, as described in ‎Section 4064 of ERISA.‎

 

Net Proceeds: with
respect to an Asset Disposition, proceeds (including, when received, any deferred or escrowed payments) received by a Borrower or Subsidiary
in cash from such disposition, net of (a) reasonable and customary costs and expenses actually incurred in connection therewith,
including legal fees and sales commissions; (b) amounts applied to repayment of Debt secured by a Permitted Lien senior to Agent’s
Liens on Collateral sold; (c) transfer or similar taxes(including any reasonable estimate of taxes to be paid within one (1) year
of the date of the relevant transaction as a result of any gain recognized in connection therewith; provided that any such estimated taxes
not actually due or payable by the end of such one year period shall constitute Net Proceeds upon the earlier of the date that such taxes
are determined by the Borrower or any Subsidiary, as applicable not to be actually payable and the end of such one year period, and (d) reasonable
reserves in accordance with GAAP for any liabilities or indemnification payments (fixed or contingent) attributable to seller’s
indemnities and representations and warranties to purchasers and other retained liabilities in respect of such Asset Disposition undertaken
by Borrower or any Subsidiary in connection with such Asset Disposition; provided that to the extent that any such amount ceases to be
so reserved (other than any reduction in such reserve to make a payment in respect of such liability or indemnification obligations),
the amount thereof shall be deemed to be Net Proceeds of such Asset Disposition at such time.

 

    	 	-27-	 

     

    

 

NOLV Percentage: the
net orderly liquidation value of Inventory of any Borrower or Guarantor, expressed as a percentage, expected to be realized at an orderly,
negotiated sale held within a reasonable period of time, net of all liquidation expenses, as determined from the most recent appraisal
of such Borrower’s and/or Guarantor’s Inventory performed by an appraiser and on terms satisfactory to Agent.

 

Notice of Borrowing:
a Notice of Borrowing to be provided by Borrower Agent to request a Borrowing of Revolver Loans (or, if applicable, FILO Loans), in form
satisfactory to Agent.

 

Notice of Conversion/Continuation:
a Notice of Conversion/Continuation to be provided by Borrower Agent to request a conversion or continuation of any Loans as LIBORBSBY Loans, in form satisfactory to Agent.

 

Obligations: all (a) principal
of and premium, if any, on the Loans, (b) LC Obligations and other obligations of Obligors with respect to Letters of Credit, (c) interest,
expenses, fees, indemnification obligations, Extraordinary Expenses and other amounts payable by Obligors under the Loan Documents, (d) Secured
Bank Product Obligations, and (e) other Debts, obligations and liabilities of any kind owing by Obligors pursuant to the Loan Documents,
whether now existing or hereafter arising, whether evidenced by a note or other writing, whether allowed in any Insolvency Proceeding,
whether arising from an extension of credit, issuance of a letter of credit, acceptance, loan, guaranty, indemnification or otherwise,
and whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, or joint or several; provided,
that Obligations of an Obligor shall not include its Excluded Swap Obligations.

 

Obligor: each Borrower,
Guarantor, or other Person that is liable for payment of any Obligations or that has granted a Lien in favor of Agent on its assets to
secure any Obligations.

 

OFAC: Office of Foreign
Assets Control of the U.S. Treasury Department.

 

OFAC Lists: means,
collectively, the SDN List and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the rules and
regulations of OFAC or pursuant to any other applicable executive orders.

 

Ordinary Course of Business:
the ordinary course of business of any Borrower or Subsidiary, consistent with past practices and undertaken in good faith.

 

Organic Documents:
with respect to any Person, its charter, certificate or articles of incorporation, bylaws, memorandum (if any) and articles of organization
or association, articles of amalgamation, limited partnership agreement, limited liability agreement, operating agreement, members agreement,
shareholders agreement, partnership agreement, certificate of partnership, certificate of formation, voting trust agreement, or similar
agreement or instrument governing the formation or operation of such Person.

 

Original Closing Date:
February 28, 2013, the effective date of that certain Loan and Security Agreement, dated as of the February 28, 2013 by and
among Obligors, Agent and the lenders party thereto.

 

OSHA: the Occupational
Safety and Hazard Act of 1970.

 

Other Agreement: each
LC Document, fee letter, Lien Waiver, Intercreditor
Agreement, Borrowing Base Certificate, Compliance Certificate, Borrower Materials, or other note, document, instrument or
agreement (other than this Agreement or a Security Document) now or hereafter delivered by an Obligor or other Person to Agent or a Lender
in connection with any transactions relating hereto.

 

    	 	-28-	 

     

    

 

Other Collateral: that
portion of the Collateral not comprised of Current Asset Collateral. The Other Collateral shall include, among other things, Equipment,
Real Estate, fixtures and Intellectual Property.

 

Other Connection Taxes:
Taxes imposed on a Recipient due to a present or former connection between it and the taxing jurisdiction (other than connections arising
from the Recipient having executed, delivered, become party to, performed obligations or received payments under, received or perfected
a Lien or engaged in any other transaction pursuant to, enforced, or sold or assigned an interest in, any Loan or Loan Document).

 

Other Taxes: all present
or future stamp, court, documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution,
delivery, performance, enforcement or registration of, from the receipt or perfection of a Lien under, or otherwise with respect to, any
Loan Document, except Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 13.4(c)).

 

Participant: as defined
in Section 13.2.

 

Patriot Act: the Uniting
and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56,
115 Stat. 272 (2001).

 

Payment Item: each
check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.

 

PBA: the Pension Benefits
Act (Ontario) or any other Canadian federal or provincial pension benefits standards legislation under which any Canadian Pension Plan
or Canadian MEPP is registered, as amended.

 

PBGC: the Pension Benefit
Guaranty Corporation.

 

Pension Funding Rules:
Code and ERISA rules regarding minimum required contributions (including installment payments) to Pension Plans set forth in, for
plan years ending prior to the Pension Protection Act of 2006 effective date, Section 412 of the Code and Section 302 of ERISA,
both as in effect prior to such act, and thereafter, Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305
of ERISA.

 

Pension Plan: any employee
pension benefit plan (as defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of
ERISA and is sponsored or maintained by any Obligor or ERISA Affiliate or to which the Obligor or ERISA Affiliate contributes or has an
obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made
contributions at any time during the preceding five plan years, but for greater certainty, excludes a Canadian Pension Plan and a Canadian
MEPP.

 

    	 	-29-	 

     

    

 

Permitted Acquisition:
any Acquisition (i) consented to by the Required Lenders, (ii) for which total consideration is paid entirely in an amount not
greater than $1,000,000; or (iii) as long as (a) no Event of Default exists or is caused thereby; (b) the Acquisition is
consensual; (c) the assets, business or Person being acquired is useful or engaged in same or similar the business of Borrowers and
Subsidiaries, is located and organized within the United States or Canada as applicable (or such other jurisdiction as Agent shall approve
in its Permitted Discretion) and had positive EBITDA for the 12 month period most recently ended; (d) no Debt or Liens are incurred,
assumed or result from the Acquisition, except Debt permitted under Section 10.2.1(f) or (i); (e) the Person to be acquired
(or its board of directors or equivalent governing body) has not (i) announced it will oppose such Acquisition or (ii) commenced
any action which alleges that such Acquisition violates, or will violate, any Applicable Law; (f) upon giving pro forma effect thereto,
either (i) Availability (calculated without giving effect to the assets acquired in the Acquisition unless Agent has completed its
diligence (including a field exam) with respect to such assets) is at least equal to 20% of the aggregate Revolver Commitments for the
30 days preceding and as of the Acquisition and the Fixed Charge Coverage Ratio, determined on a pro forma basis giving effect to the
Acquisition, is not less than 1.00 to 1:00 at any time or (ii) Availability (calculated without giving effect to the assets acquired
in the Acquisition unless agent has completed its diligence (including a field examination) with respect to such assets) is at least equal
to 25% of the aggregate Revolver Commitments for the 30 days preceding and as of the date of the Acquisition; (g) in the case of
any Acquisition where the consideration to be paid for such Acquisition equals or exceeds $2,000,000, the Borrower Agent shall have furnished
the Agent with thirty (30) days’ prior written notice of such intended Acquisition and shall have furnished the Agent with a current
draft of the Acquisition documents (and final copies thereof as and when executed), a summary of any due diligence undertaken by the Obligors
in connection with such Acquisition, appropriate financial statements of the Person which is the subject of such Acquisition, pro forma
projected financial statements for the twelve (12) month period following such Acquisition after giving effect to such Acquisition (including
balance sheets, cash flows and income statements by month for the acquired Person, individually, and on a consolidated basis with all
Obligors), and such other information as the Agent may reasonably require, all of which shall be reasonably satisfactory to the Agent;
(h) after giving effect to the Acquisition, if the Acquisition is an Acquisition of the Equity Interests, a Borrower shall acquire
and own, directly or indirectly, a majority of the Equity Interests in the Person being acquired and shall control a majority of any voting
interests or shall otherwise control the governance of the Person being acquired or formed; (i) either (1) the legal structure
of the Acquisition shall be acceptable to the Agent in its Permitted Discretion, or (2) the Borrowers shall have provided the Agent
with a favorable solvency opinion from an unaffiliated third party valuation firm reasonably satisfactory to the Agent; (j) if the
Person which is the subject of such Acquisition will be maintained as a Subsidiary of a Borrower, or if the assets acquired in an acquisition
will be transferred to a Subsidiary which is to be an Obligor, such Subsidiary shall have been joined as a “Borrower” hereunder
or as a Guarantor, as the Agent shall determine in its Permitted Discretion, and the Agent shall have received a first priority security
and/or mortgage interest (except for those Permitted Liens that have priority in such Collateral by operation of law) in such Subsidiary’s
property of the same nature as constitutes Collateral under the Security Documents; provided, that in the event such Subsidiary
is joined as a “Borrower” the assets of such Person will only be eligible for inclusion in the Revolver Borrowing Base and
FILO Borrowing Base, as the case may be, after a satisfactory field examination, appraisals and legal diligence is conducted by Agent
in its Permitted Discretion; (k) the purchase price payable in respect of (i) any single Acquisition or series of related Acquisitions
shall not exceed $2,500,000 in the aggregate and (ii) all Acquisitions (including the proposed Acquisition) shall not exceed $5,000,000
in the aggregate during the term of this Agreement.

 

Permitted Asset Disposition:
as long as no Event of Default exists and at any time a Cash Dominion Period exists, all Net Proceeds are remitted to Agent, an Asset
Disposition that is (i) a sale of Inventory in the Ordinary Course of Business; (ii) a disposition of Equipment that, in the
aggregate during any 12 month period, has a fair market or net book value (whichever is more) of $750,000 or less; (iii) a disposition
of Inventory that is obsolete, surplus, unmerchantable or otherwise unsalable in the Ordinary Course of Business; (iv) [reserved];
(v) termination of a lease of real or personal Property that is not necessary for the Ordinary Course of Business, could not reasonably
be expected to have a Material Adverse Effect and does not result from an Obligor’s default; (vi) the disposition of accounts
receivable in connection with the collection or compromise thereof; (vii) non-exclusive licenses, sublicenses, leases or subleases
of Intellectual Property granted to others in the Ordinary Course of Business or not interfering in any material respect with the business
of the Borrower or any Subsidiary; (viii) the sale or disposition of Cash Equivalents for fair market value in the ordinary course
of business; (ix) the abandonment or other disposition of Intellectual Property, whether now or hereafter owned or leased or acquired,
that is, in the reasonable business judgment of the Borrower, no longer economically practicable or commercially desirable to maintain
or used or useful in the business of the Borrower and the Subsidiaries; (x) solely to the extent not otherwise permitted hereunder,
sales, transfers and other dispositions permitted by Section 10.2.9; (xi) sales, transfers or other dispositions of Investments
to the extent not a Restricted Investment in joint ventures to the extent required by, or made pursuant to customary buy/sell arrangements
between, the parties set forth in joint venture arrangements and similar binding agreements; or (xii) approved in writing by Agent
and Required Lenders.

 

    	 	-30-	 

     

    

 

Permitted Contingent Obligations:
Contingent Obligations (a) arising from endorsements of Payment Items for collection or deposit in the Ordinary Course of Business;
(b) arising from Hedging Agreements permitted hereunder; (c) existing on the Restatement Date, and any extension or renewal
thereof that does not increase the amount of such Contingent Obligation when extended or renewed; (d) incurred in the Ordinary Course
of Business with respect to surety, appeal or performance bonds, or other similar obligations; (e) arising from customary indemnification
obligations in favor of purchasers in connection with dispositions of Equipment permitted hereunder or Acquisitions permitted hereunder;
(f) arising under the Loan Documents; or (g) in an aggregate amount of $3,000,000 or less at any time.

 

Permitted Discretion:
a determination made by Agent, in good faith, in the exercise of reasonable business judgment (from the perspective of a secured, asset-based
lender), based upon Agent’s consideration of factors that in the exercise of such reasonable business judgment Agent believes: (a) could
be expected to materially and adversely affect the quantity, quality, mix or value of Collateral (including any Applicable Law that may
inhibit collection of an Account), the enforceability or priority of Agent’s Liens, or the amount that Agent and Lenders could receive
in liquidation of any Collateral; (b) that any collateral report or financial information delivered by any Obligor is incomplete,
inaccurate or misleading in any material respect; (c) could materially increase the likelihood of any Insolvency Proceeding involving
an Obligor; (d) could increase the credit risk of lending to Borrowers on the security of the Collateral; or (e) could reasonably
be expected to result in a Default or Event of Default.

 

Permitted Lien: as
defined in Section 10.2.2.

 

Permitted Purchase Money
Debt: Purchase Money Debt of Borrowers and Subsidiaries that is unsecured or secured only by a Purchase Money Lien, as long as the
aggregate amount does not exceed $2,500,000 at any time when combined with Capital Lease obligations permitted under Section 10.2.1(c).

 

Permitted Restricted Payments:
(a) Upstream Payments and (b) other Distributions made by any Obligor or Subsidiary following the repayment in full of the FILO
Loan and the Term Loan; provided, that (i) at the time such Distribution is made and after giving effect thereto, no Default
or Event of Default shall have occurred and be continuing, (ii) on a pro forma basis immediately after giving effect to such Distribution,
the financing thereof and the payment of reasonable costs and expenses related thereto (including, without limitation, the funding of
any Revolver Loans or incurrence of other Debt to finance such Distribution or the payment of such costs and expenses), either (A) both
(1) Availability, calculated as of the day such Distribution is made and for the period of 30 consecutive days ending on the day
such Distribution is made, shall equal or exceed 25% of the aggregate Revolver Commitments as of such date and (2) the Fixed Charge
Coverage Ratio, determined as if such Distribution has been made, and all Debt related to such Distribution (including, without limitation,
any Revolver Loans made or other Debt incurred to finance such Distribution) had been incurred, on the first day of the twelve consecutive
month period most recently ended prior to the date such Distribution is made for which financial statements have been (or are required
to have been) delivered to Agent pursuant to Section 10.1.2(a) or (b), shall equal or exceed 1.00 to 1.00, or
(B) Availability, calculated as of the day such Distribution is made and for the period of 30 consecutive days ending on the day
such Distribution is made, shall equal or exceed 30% of the aggregate Revolver Commitments as of such date, and (iii) Agent shall
have received a certificate of a Senior Officer of Borrower Representative in form and substance reasonably satisfactory to Agent, dated
as of the date of such Distribution, certifying that the conditions set forth in the foregoing clauses (b)(i) and (b)(ii) have
been satisfied.

 

    	 	-31-	 

     

    

 

Person: any individual,
corporation, limited liability company, unlimited liability company, partnership, joint venture, association, trust, unincorporated organization,
Governmental Authority or other entity.

 

Plan: any employee
benefit plan (as defined in Section 3(3) of ERISA) established by an Obligor or, with respect to any such plan that is subject
to Section 412 of the Code or Title IV of ERISA, an ERISA Affiliate.

 

Platform: as defined
in Section 14.3.3.

 

PPSA: the Personal
Property Security Act (Ontario) and/or the Personal Property Security Act (New Brunswick), as applicable, and the regulations thereunder;
provided, that, if validity, perfection and effect of perfection and non-perfection of Agent’s security interest in any Collateral
of any Canadian Guarantor or any other Obligor are governed by the personal property security laws of any jurisdiction other than Ontario
or New Brunswick, PPSA shall mean those personal property security laws and regulations thereunder (including the Civil Code of Quebec
in the case of the Province of Quebec) in such other jurisdiction for the purposes of the provisions hereof relating to such validity,
perfection, and effect of perfection and non-perfection and for the definitions related to such provisions, as from time to time in effect.

 

Pre-Adjustment Successor
Rate: as defined in Section 3.6.2.

 

Prime Rate: the rate
of interest announced by Bank of America from time to time as its prime rate. Such rate is ‎set
by Bank of America on the basis of various factors, including its costs and desired return, ‎general
economic conditions and other factors, and is used as a reference point for pricing some ‎loans,
which may be priced at, above or below such rate. Any change in such rate publicly ‎announced
by Bank of America shall take effect at the opening of business on the day specified in ‎the
announcement..

 

Proceeds of Crime Act:
means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada).

 

Properly Contested:
with respect to any obligation of an Obligor, (a) the obligation is subject to a bona fide dispute regarding amount or the Obligor’s
liability to pay; (b) the obligation is being properly contested in good faith by appropriate proceedings promptly instituted and
diligently pursued; (c) appropriate reserves have been established in accordance with GAAP and included in the calculation of the
Revolver Borrowing Base and properly reflected in any Borrowing Base Certificate (including, without limitation, Priority Payables owing
by any Canadian Guarantor); (d) non-payment could not have a Material Adverse Effect, nor result in forfeiture or sale of any material
assets of the Obligor; (e) no Lien is imposed on assets of the Obligor, unless (i) bonded and stayed to the satisfaction of
Agent or (ii) if such assets constitute Collateral, the fair market value of such Collateral does not exceed $2,000,000; and (f) if
the obligation results from entry of a judgment or other order, such judgment or order is stayed pending appeal or other judicial review.

 

Property: any interest
in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 

Protective Advances:
as defined in Section 2.1.5(c).

 

PTE: a prohibited transaction
class exemption issued by the U.S. Department of Labor, as amended from time to time.

 

    	 	-32-	 

     

    

 

Purchase Money Debt:
(a) Debt (other than the Obligations) for payment of any of the purchase price of fixed assets; (b) Debt (other than the Obligations)
incurred within 10 days before or after acquisition of any fixed assets, for the purpose of financing any of the purchase price thereof;
and (c) any renewals, extensions or refinancings (but not increases) thereof.

 

Purchase Money Lien:
a Lien that secures Purchase Money Debt, encumbering only the fixed assets acquired with such Debt and constituting a Capital Lease or
a purchase money security interest under the UCC or the PPSA.

 

Qualified ECP: an Obligor
with total assets exceeding $10,000,000, or that constitutes an "eligible contract participant" under the Commodity Exchange
Act and can cause another Person to qualify as an "eligible contract participant" under Section 1a(18)(A)(v)(II) of
such act.

 

RCRA: the Resource
Conservation and Recovery Act (42 U.S.C. §§ 6991-6991i).

 

Real Estate: all right,
title and interest (whether as owner, lessor or lessee) in any real Property or any buildings, structures, parking areas or other improvements
thereon.

 

Recipient: Agent, Issuing
Bank, any Lender or any other recipient of a payment to be made by an Obligor under a Loan Document or on account of an Obligation.

 

Refinancing Conditions:
the following conditions for Refinancing Debt: (i) it is in an aggregate principal amount that does not exceed the principal amount
of the Debt being extended, renewed or refinanced; (ii) it has a final maturity no sooner than, a weighted average life no less than,
and an interest rate no greater than, the Debt being extended, renewed or refinanced; (iii) it is subordinated to the Obligations
at least to the same extent as the Debt being extended, renewed or refinanced; (iv) the representations, covenants and defaults applicable
to it are no less favorable to Borrowers than those applicable to the Debt being extended, renewed or refinanced; (v) no additional
Lien is granted to secure it; (vi) no additional Person is obligated on such Debt; and (v) upon giving effect to it, no Default
or Event of Default exists.

 

Refinancing Debt: Borrowed
Money that is the result of an extension, renewal or refinancing of Debt permitted under Section 10.2.1(b), (d) or
(f).

 

Reimbursement Date:
as defined in Section 2.3.2.

 

Related
Adjustment: in determining any LIBOR Successor Rate, the first relevant available alternative set forth in
the order below that can be determined by Agent applicable to such LIBOR Successor Rate: (a) the spread adjustment, or method for
calculating or determining such spread adjustment, that has been selected or recommended by the Relevant Governmental Body for the relevant
Pre-Adjustment Successor Rate (taking into account the interest period, interest payment date or payment period for interest calculated
and/or tenor thereto) and which adjustment or method (i) is published on an information service as selected by Agent from time to
time in its discretion or (ii) solely with respect to Term SOFR, if not currently published, which was previously so recommended
for Term SOFR and published on an information service acceptable to Agent; or (b) the spread adjustment that would apply (or has
previously been applied) to the fallback rate for a derivative transaction referencing the ISDA Definitions (taking into account the
interest period, interest payment date or payment period for interest calculated and/or tenor thereto).

 

Relevant Governmental
Body: the Federal Reserve Board and/or the Federal Reserve Bank of New YorkFRBNY,
or a committee officially endorsed or convened by the ‎Federal
Reserve Board and/or the Federal Reserve Bank of New YorkFRBNY.

 

    	 	-33-	 

     

    

 

Rent and Charges Reserve:
the aggregate of (a) all past due rent and other amounts owing by an Obligor to any landlord, warehouseman, processor, repairman,
mechanic, shipper, freight forwarder, broker or other Person who possesses any Collateral or could assert a Lien on any Collateral; and
(b) a reserve at least equal to three months’ rent and other charges that could be payable to any such Person, unless it has
executed a Lien Waiver.

 

Report: as defined
in Section 12.2.3.

 

Reportable Event: any
of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived.

 

Reporting Frequency Increase
Trigger Amount: as of any date, an amount equal to 12.5% of the aggregate Revolver Commitments as of such date.

 

Required Lenders: Lenders
(subject to Section 4.2) having (a) Revolver Commitments, FILO Commitments and Term Loans in excess of 662⁄3% of
the aggregate Revolver Commitments, FILO Commitments and Term Loans; and (b) if the Revolver Commitments and FILO Commitments have
terminated, Loans in excess of 662⁄3% of all outstanding Loans; provided, however, that (i) if at any time there
shall be two or more Lenders, “Required Lenders” shall mean at least two Lenders (subject to Section 4.2) having
Revolver Commitments, FILO Commitments and Term Loans in excess of 662⁄3% of the aggregate Revolver Commitments, FILO Commitments
and Term Loans (or, if Revolver Commitments and FILO Commitments have terminated, having Loans in excess of 662⁄3% of all outstanding
Loans), and (ii) the Revolver Commitments, FILO Commitments and Loans of any Defaulting Lender shall be excluded from such calculation.

 

Reserve Percentage:
the reserve percentage (expressed as a decimal, rounded up to the nearest 1/8th of 1%) applicable to member banks under regulations issued
by the Board of Governors for determining the maximum reserve requirement for Eurocurrency liabilities.

 

Resolution Authority:
an EEA Resolution Authority or a UK Resolution Authority, as applicable.

 

Restatement Date: as
defined in Section 6.1.

 

Restricted Investment:
any Investment by a Borrower or Subsidiary, other than (a) Investments in Subsidiaries to the extent existing on the Restatement
Date; (b) Cash Equivalents that are subject to Agent’s Lien and control, pursuant to documentation in form and substance satisfactory
to Agent; (c) loans and advances permitted under Section 10.2.7; (d) Permitted Acquisitions, (e) subject to
the restrictions on intercompany loans set forth in Section 10.2.7(d), Investments in Obligors, (f) Investments
in joint ventures not to exceed $1,000,000, and (g) investments in (x) Foreign Subsidiaries (other than SI Asia) in an aggregate
amount not to exceed $500,000 per Fiscal Year and (y) SI Asia in an aggregate amount not to exceed $2,000,000 per Fiscal Year.

 

Restrictive Agreement:
an agreement (other than a Loan Document) that conditions or restricts the right of any Borrower, Subsidiary or other Obligor to incur
or repay Borrowed Money, to grant Liens on any assets, to declare or make Distributions, to modify, extend or renew any agreement evidencing
Borrowed Money, or to repay any intercompany Debt.

 

    	 	-34-	 

     

    

 

Revolver Borrowing Base:
on any date of determination, an amount equal to the sum of (a) the Accounts Formula Amount, plus (b) the Inventory
Formula Amount, minus (c) the Availability Reserve established by Agent in its Permitted Discretion; provided, however,
that (i) Eligible In-Transit Inventory shall in no event contribute more than $7,000,000the
Eligible In-Transit Inventory Revolver Borrowing Base Cap (after giving effect to the Inventory Formula Amount) to the Revolver
Borrowing Base at any time and (ii) Eligible Accounts owing to and Eligible Inventory held by the UK Guarantors shall not contribute
more than an aggregate of $6,000,000 (after giving effect to the Account Formula Amount and Inventory Formula Amount, respectively) to
the Revolver Borrowing Base at any time. If any amount in this definition is stated in a currency other than Dollars on any date, then
such amount on such date shall be equal to the Dollar Equivalent of such amount in such other currency.

 

Revolver Commitment:
for any Lender, its obligation to make Revolver Loans and to participate in LC Obligations up to the maximum principal amount shown on
Schedule 1.1(a), as hereafter modified pursuant to an Assignment and Acceptance to which it is a party.

 

Revolver Commitments:
the aggregate Revolver Commitments of all Lenders. As of the Restatement Date, the aggregate Revolver Commitments equal $40,000,000.

 

Revolver Exposure:
at any time, the sum of (i) the outstanding principal amount of Revolver Loans at such time plus (ii) the aggregate Stated
Amount of LC Obligations at such time.

 

Revolver Loan: a loan
made pursuant to Section 2.1.1(b)(ii), and any Swingline Loan, Revolver Overadvance Loan or Protective Advance.

 

Revolver Overadvance:
as defined in Section 2.1.5(a).

 

Revolver Overadvance Loan:
a Base Rate Revolver Loan made when a Revolver Overadvance exists or is caused by the funding thereof.

 

Revolver Termination Date:
the earliest to occur of (a) October 15, 2025; (b) the date on which Borrowers terminate the Revolver Commitments pursuant
to Section 2.1.4; or (c) the date on which the Revolver Commitments are terminated pursuant to Section 11.2.

 

Royalties: all royalties,
fees, expense reimbursement and other amounts payable by an Obligor under a License.

 

S&P: Standard &
Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, and its successors.

 

Sanction: any sanction
administered or enforced by the U.S. Government (including OFAC), the Canadian Government, United Nations Security Council, European Union,
Her Majesty’s Treasury or other sanctions authority

 

Scheduled Unavailability
Date: as defined in Section 3.6(b).

 

SDN List: means the
list of the Specially Designated Nationals and Blocked Persons.

 

Second
Lien Agent: as defined in the definition of “Second Lien Loan Agreement”.

 

Second
Lien Debt: all Debt of the Obligors incurred pursuant to the Second Lien Loan Agreement and the other Second Lien Loan Documents and
any refinancing or replacement of such Debt from time to time in accordance with the Intercreditor Agreement.

 

    	 	-35-	 

     

    

 

Second
Lien Lenders: as defined in the definition of “Second Lien Loan Agreement”.

 

Second
Lien Loan Agreement: the Loan and Security Agreement, dated as of January 28, 2022 (as amended, amended and restated, supplemented,
or otherwise modified from time to time) among the Borrowers, the lenders from time to time party thereto (the “Second Lien Lenders”)
and Wynnefield Capital, Inc., as agent and security trustee for the Second Lien Lenders (the “Second Lien Agent”).

 

Second
Lien Loan Documents: the Second Lien Loan Agreement and all other documents, instruments and agreements from time to time executed or
delivered in connection therewith and as amended, restated, amended and restated, supplemented, modified or refinanced or replaced from
time to time in accordance with the Intercreditor Agreement.

 

Secured Bank Product Obligations:
Debt, obligations and other liabilities with respect to Bank Products owing by a Borrower or an Affiliate of a Borrower to a Secured Bank
Product Provider; provided, that Secured Bank Product Obligations of an Obligor shall not include its Excluded Swap Obligations.

 

Secured Bank Product Provider:
(a) Bank of America or any of its Affiliates; and (b) any other Lender or Affiliate of a Lender that is providing a Bank Product,
provided such provider delivers written notice to Agent, in form and substance satisfactory to Agent, within 10 days following the later
of the Restatement Date or creation of the Bank Product, (i) describing the Bank Product and setting forth the maximum amount to
be secured by the Collateral and the methodology to be used in calculating such amount, and (ii) agreeing to be bound by Section 12.13.

 

Secured Parties: Agent, Issuing
Bank, Lenders and Secured Bank Product Providers.

 

Security Documents:
the Guaranties, IP Assignments, Deposit Account Control Agreements, the Canadian Security Agreements, the UK Security Agreements
and all other documents, instruments and agreements now or hereafter securing (or given with the intent to secure) any Obligations.

 

Senior Officer: the
chairman of the board, president, chief executive officer or chief financial officer of a Borrower or, if the context requires, an Obligor.

 

Settlement Report:
a report summarizing Revolver Loans and participations in LC Obligations outstanding as of a given settlement date, allocated to Lenders
in accordance with their Applicable Percentages of the Revolver Commitments.

 

SI Asia: means Summer
Infant Asia, Ltd., a Hong Kong Private Limited Company.

 

SI Canada: means Summer
Infant Canada, Limited, a corporation formed under the laws of the Province of New Brunswick.

 

SI UK: means Summer
Infant Europe Limited, a private company with limited liability incorporated in and registered under the laws of England and Wales with
company number 4322137.

 

Small Business Administration:
means the U.S. Small Business Administration.

 

SOFR: with
respect to any Business Day, the secured overnight financing rate published for such
day by the Federal Reserve Bank of New YorkFRBNY (or
a successor administrator), as the administrator of the benchmark (or
a successor administrator) on the Federal Reserve Bank of New York's,
on its website (or any successor source satisfactory
to Agent) at approximately 8:00 a.m. (New York City time) on the immediately succeeding
Business Day and, in each case, that has been selected or recommended by the Relevant Governmental Body.

 

    	 	-36-	 

     

    

 

SOFR
Adjustment: (a) with respect to Daily Simple SOFR, 0.11448%, and (b) with respect to Term SOFR, 0.11448% for a one month interest
period, 0.26161% for a three month interest period and 0.42826% for a six month interest period.

 

Solvent: as to any
Person, such Person (a) owns Property whose Fair Salable Value is greater than the amount required to pay all of its debts (including
contingent, subordinated, unmatured and unliquidated liabilities); (b) owns Property whose present Fair Salable Value is greater
than the probable total liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of such Person as they
become absolute and matured; (c) is able to pay all of its debts as they mature; (d) has capital that is not unreasonably small
for its business and is sufficient to carry on its business and transactions and all business and transactions in which it is about to
engage; (e) is not “insolvent” within the meaning of Section 101(32) of the Bankruptcy Code (for SI UK this subsection
(e) shall not be applicable); (f) is not an “insolvent person” within the meaning of the Bankruptcy and Insolvency
Act (Canada); (g) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise)
under any Loan Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present
or future creditors of such Person or any of its Affiliates; and (h) with respect to any Person incorporated in England and Wales,
(i) it is not unable and does not admit its inability to pay its debts as they fall due, (ii) it is not deemed to, or is not
declared to, be unable to pay its debts under applicable law, (iii) it has not suspended or threatened to suspend making payments
on any of its debts or (iv) by reason of actual or anticipated financial difficulties, it has not commenced negotiations with one
or more of its creditors with a view to rescheduling any of its indebtedness.

 

Specified Obligor:
an Obligor that is not then an "eligible contract participant" under the Commodity Exchange Act (determined prior to giving
effect to Section 5.11).

 

Spot Rate: the exchange
rate, as determined by Agent, that is applicable to conversion of one currency into another currency, which is (a) the exchange rate
reported by Bloomberg (or other commercially available source designated by Agent) as of the end of the preceding business day in the
financial market for the first currency; or (b) if such report is unavailable for any reason, the spot rate for the purchase of the
first currency with the second currency as in effect during the preceding business day in Agent’s principal foreign exchange trading
office for the first currency.

 

Stated Amount: the
outstanding amount of a Letter of Credit, including any automatic increase or tolerance (whether or not then in effect) provided by the
Letter of Credit or related LC Documents

 

Subordinated Debt:
Debt incurred by a Borrower that is expressly subordinate and junior in right of payment to Full Payment of all Obligations, and is on
terms (including maturity, interest, fees, repayment, covenants and subordination) satisfactory to Agent in its exclusive discretion.

 

Subsidiary: any entity
at least 50% of whose voting securities or Equity Interests is owned by a Borrower or any combination of Borrowers (including indirect
ownership by a Borrower through other entities in which the Borrower directly or indirectly owns 50% of the voting securities or Equity
Interests).

 

Supplemental UK Security
Agreements: means (a) the Debenture dated as of the date of this Agreement executed by the UK Guarantors in favor of Agent, as
the same may be amended, restated or supplemented from time to time, (b) the deed of charge over bank account dated as of the date
of this Agreement, executed by the UK Guarantor in favor of the Agent, as the same may be amended, restated or supplemented from time
to time, (c) the security over shares agreement dated as of the date of this Agreement, executed by the Company in favor of the Agent,
as the same may be amended, restated or supplemented from time to time, (d) any other UK security agreement required to be executed
by any Obligor in favor of Agent on, around or after the date of this Agreement, in each case, as the same may be amended, restated or
supplemented from time to time.

 

    	 	-37-	 

     

    

 

Swap Obligations: with
respect to an Obligor, its obligations under a Hedging Agreement that constitutes a "swap" within the meaning of Section 1a(47)
of the Commodity Exchange Act

 

Swingline Loan: any
Borrowing of Base Rate Revolver Loans funded with Agent’s funds, until such Borrowing is settled among Lenders or repaid by Borrowers.

 

Target Companies: collectively,
Target Corporation and its Affiliates.

 

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.

 

Termination Event:
(a) the whole or partial termination of a Canadian Defined Benefit Pension Plan; or (b) the filing of a notice of intent to
terminate in whole or in part a Canadian Defined Benefit Pension Plan; or (c) the institution of proceedings by any Governmental
Authority to terminate in whole or in part or have a trustee appointed to administer a Canadian Defined Benefit Pension Plan; or (d) any
other event or condition provided for in, or prescribed pursuant to, the PBA that would entitle any Governmental Authority to require
the termination or winding up or partial termination or winding up of any Canadian Defined Benefit Pension Plan.

 

Term Loan Advance Percentage:
as of any date, the percentage equal to the product of (a) 50% multiplied by (b) a fraction, the numerator of which is
(i) 20 minus (ii) the number of full calendar quarters that have elapsed since the Restatement Date, and the denominator
of which is 20.

 

Term Loan Commitment:
for any Lender, the obligation of such Lender to make a Term Loan hereunder, up to the principal amount shown on Schedule 1.1(a).

 

Term Loan Commitments:
the aggregate Term Loan Commitments of all Lenders. The aggregate Term Loan Commitments equal $7,500,000.

 

Term Loan: a loan made
pursuant to Section 2.2.

 

Term Loan Maximum Amount:
as of any date of determination, an aggregate amount equal to the lesser of (a) the Term Loan Advance Percentage of the Brand NOLV
as of such date, and (b) the result of (i) $7,500,000 minus (ii) the aggregate amount of all (A) regularly
scheduled payments of principal pursuant to Section 5.3.1 and (B)  mandatory prepayments of principal pursuant to Section 5.3.2,
in each case, made or required to be made in respect of the Term Loans on or prior to such date (other than mandatory prepayments required
to be made in respect of the Term Loans on such date pursuant to Section 5.3.2(a)), minus (iii) the aggregate
amount of all voluntary prepayments of the Term Loans made on or prior to such date.

 

Term Loan Maturity Date:
the earlier of (a) October 15, 2025 and (b) the Revolver Termination Date.

 

Term SOFR: the
forward-looking term rate for any period that is approximately (as determined by Agent)
as long as any offor
the applicable
corresponding Interest Period options set forth in the definition of "of
BSBY (or if any Interest Period" and that is does
not ‎correspond to an interest period applicable to SOFR, the closest corresponding interest period of ‎SOFR, but if such interest
period of SOFR corresponds equally to two Interest Periods of BSBY, ‎the corresponding interest period of shorter duration shall
be applied), the forward-looking term rate based on SOFR and that
has been selected or recommended by the Relevant Governmental Body, in each case as published on an
information service as selected by Agent from time to time in its discretion.

 

    	 	-38-	 

     

    

 

Transferee: any actual
or potential Eligible Assignee, Participant or other Person acquiring an interest in any Obligations.

 

Type: any type of
a Loan (i.e., Base Rate Loan or LIBORBSBY Loan)
that has the same interest ‎option
and, in the case of LIBORBSBY Loans,
the same Interest Period.‎

 

UCC: the Uniform Commercial
Code as in effect in the State of New York or, when the laws of any other jurisdiction govern the perfection or enforcement of any Lien,
the Uniform Commercial Code of such jurisdiction.

 

UK Anti-Terrorism Laws:
the Criminal Justice (Terrorism and Conspiracy) Act 1998, the Terrorism Act 2000, the Anti-Terrorism, Crime and Security Act 2001, the
Prevention of Terrorism Act 2005, the Terrorism Act 2006, the Money Laundering Regulations 2007 and the Counter-Terrorism Act 2008.

 

UK Guarantor: collectively,
SI UK and each other UK Subsidiary that guarantees payment or performance of the Obligations. The definition of “UK Guarantors”
means all of such entities collectively.

 

UK Guaranty: that certain
Guarantee dated as of April 21, 2015 made by the UK Guarantor, as may be amended, restated or otherwise modified from time to time.

 

UK Pension Scheme:
any pension, retirement benefits or employee benefit scheme established by any UK Guarantor.

 

UK Priority Payables Reserve:
means (a) the prescribed part of the UK Guarantors’ net property that would be made available for the satisfaction of its unsecured
debts pursuant to section 176A of the Insolvency Act 1986 together with the UK Guarantors’ liabilities which constitute preferential
debts pursuant to section 386 of the Insolvency Act 1986 and any sums payable as administration or liquidation expenses pursuant to rules 2.67(1) and
4.218(1) of the Insolvency Rules 1986 plus (b) third party claims against the assets of the UK Guarantors ranking
or which may rank equal or prior to the claims of Agent (including by way of retention of title); provided that such amounts shall
be adjusted from time to time hereafter upon delivery to the Agent of an acceptable waiver.

 

UK Resolution Authority: the
Bank of England and any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

 

UK Security Agreements:
(a) the Debenture dated as of April 21, 2015 executed by the UK Guarantors in favor of Agent, as the same may be amended, restated
or supplemented from time to time, (b) the deed of charge over bank account dated as of April 21, 2015, executed by the UK Guarantor
in favor of the Agent, as the same may be amended, restated or supplemented from time to time, (c) the security over shares agreement
dated as of 21 April 2015, executed by the Company in favor of the Agent, as the same may be amended, restated or supplemented from
time to time a (d) the Supplemental UK Security Agreements and (e) any other UK security agreement governed by English law executed
by any Obligor in favor of Agent, in each case, as the same may be amended, restated or supplemented from time to time.

 

UK Subsidiaries: any
Subsidiary of Company that is organized under the laws of England and Wales.

 

UK ST Law: the Law
of Property Act 1925.

 

    	 	-39-	 

     

    

 

Unfunded Pension Liability:
the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension
Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to the Code, ERISA or the
Pension Protection Act of 2006 for the applicable plan year; (specifically excluding SI UK from this definition).

 

U.S. Person: "United
States Person" as defined in Section 7701(a)(30) of the Code.

 

U.S. Tax Compliance Certificate:
as defined in Section 5.10.2(b)(iii).

 

Upstream Payment: a
Distribution by a Subsidiary of a Borrower to such Borrower.

 

Value: (a) for
Inventory, its value determined on the basis of the lower of cost or market, calculated on a first-in, first-out basis, and excluding
any portion of cost attributable to intercompany profit among Obligors and their Affiliates; and (b) for an Account, its face amount,
net of any returns, rebates, discounts (calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other
taxes) that have been or could be claimed by the Account Debtor or any other Person.

 

Wal-Mart Companies:
collectively, Wal-Mart Stores, Inc. and its Affiliates.

 

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 any UK Resolution Authority, (i) any powers under any Bail-In
Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm or other financial institution or
affiliate of a bank, investment firm or other financial institution, to cancel, reduce, modify or change the form of a liability of such
a person 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 and (ii) any similar or analogous powers under that Bail-In Legislation.

 

1.2.         Accounting
Terms. Under the Loan Documents (except as otherwise specified herein), all accounting terms shall be interpreted, all accounting
determinations shall be made, and all financial statements shall be prepared, in accordance with GAAP applied on a basis consistent with
the most recent audited financial statements of Borrowers delivered to Agent before the Restatement Date and using the same inventory
valuation method as used in such financial statements, except for any change required or permitted by GAAP if Borrowers’ certified
public accountants concur in such change, the change is disclosed to Agent, and Section 10.3 is amended in a manner satisfactory
to Required Lenders to take into account the effects of the change.

 

1.3.          Uniform
Commercial Code and PPSA . As used herein, the following terms are defined in accordance with the UCC in effect in the State
of New York from time to time (or, with respect to any such property of Canadian Guarantor to which the PPSA is applicable, in accordance
with the PPSA in effect in the Province of Ontario from time to time if defined therein or, if applicable, with respect to any such property
of the UK Guarantor to which the UK Security Agreements are applicable, in accordance with the UK Security Agreements): “Chattel
Paper,” “Commercial Tort Claim,” “Commodities Accounts,” “Commodities Contracts,” “Electronic
Chattel Paper,” “Equipment,” “Financial Assets,” “Fixtures,” “General Intangibles,”
 “Goods,” “Instruments,” “Intangibles,” “Investment Property,” “Letter-of-Credit
Right,” “Payment Intangibles,” “Proceeds,” “Promissory Notes,” “Records,” “Securities
Accounts,” “Security,” “Security Entitlements,” “Supporting Obligations,” and “Tangible
Chattel Paper.”

 

    	 	-40-	 

     

    

 

1.4.         Certain
Matters of Construction. The terms “herein,” “hereof,” “hereunder” and other words of similar
import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed
to cover all genders. In the computation of periods of time from a specified date to a later specified date, “from” means
 “from and including,” and “to” and “until” each mean “to but excluding.” The terms “including”
and “include” shall mean “including, without limitation” and, for purposes of each Loan Document, the parties
agree that the rule of ejusdem generis shall not be applicable to limit any provision. Section titles appear as a matter
of convenience only and shall not affect the interpretation of any Loan Document. All references to (a) laws or statutes include
all related rules, regulations, interpretations, amendments and successor provisions; (b) any document, instrument or agreement
include any amendments, waivers and other modifications, extensions or renewals (to the extent permitted by the Loan Documents); (c) any
section mean, unless the context otherwise requires, a section of this Agreement; (d) any exhibits or schedules mean, unless the
context otherwise requires, exhibits and schedules attached hereto, which are hereby incorporated by reference; (e) any Person include
successors and assigns; (f) time of day mean time of day at Agent’s notice address under Section 14.3.1; or (g) discretion
of Agent, Issuing Bank or any Lender mean the sole and absolute discretion of such Person. All determinations (including calculations
of the FILO Borrowing Base, Revolver Borrowing Base and financial covenants) made from time to time under the Loan Documents shall be
made in light of the circumstances existing at such time. FILO Borrowing Base and Revolver Borrowing Base calculations shall be consistent
with historical methods of valuation and calculation, and otherwise satisfactory to Agent (and not necessarily calculated in accordance
with GAAP). Borrowers shall have the burden of establishing any alleged negligence, misconduct or lack of good faith by Agent, Issuing
Bank or any Lender under any Loan Documents. No provision of any Loan Documents shall be construed against any party by reason of such
party having, or being deemed to have, drafted the provision. A reference to Borrowers’ “knowledge” or similar concept
means actual knowledge of a Senior Officer, or knowledge that a Senior Officer would have obtained if he or she had engaged in good faith
and diligent performance of his or her duties, including reasonably specific inquiries of employees or agents and a good faith attempt
to ascertain the matter. To the extent the definition of any category or type of collateral is expanded by any amendment, modification
or revision to the Uniform Commercial Code or the PPSA, such expanded definition will apply automatically as of the date of such amendment,
modification or revision.

 

Notwithstanding the foregoing, and where the
context so requires, (i) any term defined in this Agreement by reference to the “Uniform Commercial Code” shall also
have any extended, alternative or analogous meaning given to such term in applicable Canadian personal property security and other laws
(including, without limitation, the Personal Property Security Act of Ontario and New Brunswick, the Bills of Exchange Act (Canada) and
the Depository Bills and Notes Act (Canada)), in all cases for the extension, preservation or betterment of the security and rights of
the Collateral, (ii) all references in this Agreement to “Article 7”, “Article 8” or “Article 9”
shall be deemed to refer also to applicable Canadian securities transfer laws, (iii) all references in this Agreement to a financing
statement, continuation statement, amendment or termination statement shall be deemed to refer also to the analogous documents used under
applicable Canadian personal property security laws, including, without limitation, where applicable, financing change statements, (iv) all
references to the United States, or to any subdivision, department, agency or instrumentality thereof shall be deemed to refer also to
Canada, or to any subdivision, department, agency or instrumentality thereof, and (v) all references to federal or state securities
law of the United States shall be deemed to refer also to analogous federal and provincial securities laws in Canada.

 

Any reference herein to a merger, transfer, consolidation,
amalgamation, assignment, sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability
company, or an allocation of assets to a series of a limited liability company (or the unwinding of such a division or allocation), as
if it were a merger, transfer, consolidation, amalgamation, assignment, sale, disposition or transfer, or similar term, as applicable,
to, of or with a separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and each
division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute such a Person
or entity).

 

    	 	-41-	 

     

    

 

The Agent does not warrant,
nor accept responsibility, nor shall the Agent have any liability with respect to the administration, submission or any other matter
related to the rates in the definition of “LIBOR” or with respect to any rate that is an alternative or replacement for or
successor to any of such rates (including, without limitation, any LIBOR Successor Rate) or the effect of any of the foregoing, or of
any LIBOR Successor Rate Conforming Changes.

 

1.5.         Currency
Equivalents.

 

1.5.1.       Calculations.
All references in the Loan Documents to Loans, Letters of Credit, Obligations, FILO Borrowing Base components, Revolver Borrowing Base
components and other amounts shall be denominated in Dollars, unless expressly provided otherwise. The “Dollar Equivalent”
of any amounts denominated or reported under a Loan Document in a currency other than Dollars shall be determined by Agent on a daily
basis, based on the current Spot Rate. Borrowers shall report Value and other FILO Borrowing Base and Revolver Borrowing Base components
to Agent in the currency invoiced by Borrowers or shown in Borrowers’ financial records, and unless expressly provided otherwise,
shall deliver financial statements and calculate financial covenants in Dollars. Notwithstanding anything herein to the contrary, if
any Obligation is funded and expressly denominated in a currency other than Dollars, Borrowers shall repay such Obligation in such other
currency.

 

1.5.2.       Judgments.       If,
for purposes of obtaining judgment in any court, it is necessary to convert a sum from the currency provided under a Loan Document (“Agreement
Currency”) into another currency, the Spot Rate shall be used as the rate of exchange. Notwithstanding any judgment in a currency
(“Judgment Currency”) other than the Agreement Currency, a Borrower shall discharge its obligation in respect of any sum
due under a Loan Document only if, on the Business Day following receipt by Agent of payment in the Judgment Currency, Agent can use
the amount paid to purchase the sum originally due in the Agreement Currency. If the purchased amount is less than the sum originally
due, such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify Agent and Lenders against such
loss. If the purchased amount is greater than the sum originally due, Agent shall return the excess amount to such Borrower (or to the
Person legally entitled thereto).

 

Section 2.         CREDIT
FACILITIES

 

2.1.          FILO
and Revolver Commitments.

 

2.1.1.       Loans
Outstanding Under Existing Credit Agreement; FILO and Revolver Loans.

 

(a)           (i)             A
portion of the Loans made and outstanding under (and as defined in) the Existing Credit Agreement as of the Restatement Date equal to
the lesser of (x) the aggregate FILO Commitments and (y) the FILO Borrowing Base, shall remain outstanding on the Restatement
Date and shall be automatically, and without any action on the part of any Person, deemed to be converted into and constitute “FILO
Loans” hereunder and the Lenders shall automatically, and without the requirement for additional documentation on the Restatement
Date, acquire such “FILO Loans” in accordance with their Applicable Percentages of the aggregate FILO Commitments.

 

(ii)           The
portion of the Loans made and outstanding under (and as defined in) the Existing Credit Agreement as of the Restatement Date that are
not automatically converted into FILO Loans on the Restatement Date pursuant to clause (i) above, shall remain outstanding on the
Restatement Date and shall be automatically, and without any action on the part of any Person, deemed to constitute “Revolver Loans”
hereunder and the Lenders shall automatically, and without the requirement for additional documentation on the Restatement Date, acquire
such “Revolver Loans” in accordance with their Applicable Percentages of the aggregate Revolver Commitments.

 

    	 	-42-	 

     

    

 

(b)           (i)             Each
Lender agrees severally, up to its FILO Commitment and on the terms set forth herein, to make FILO Loans to Borrowers from time to time
from the Restatement Date to but not including the FILO Termination Date. FILO Loans may be repaid and reborrowed as provided herein.
In no event shall Lenders have any obligation to honor a request for a FILO Loan if (x) the sum of (A) the FILO Exposure plus
(B) the requested FILO Loan would exceed (y) the lesser of (A) the FILO Borrowing Base and (B) the Aggregate FILO
Commitment Amount at such time.

 

(ii)            Each
Lender agrees severally, up to its Revolver Commitment and on the terms set forth herein, to make Revolver Loans to Borrowers from time
to time from the Restatement Date to but not including the Revolver Termination Date. Revolver Loans may be repaid and reborrowed as
provided herein. In no event shall Lenders have any obligation to honor a request for a Revolver Loan if (x) the sum of (A) the
Revolver Exposure plus (B) the requested Revolver Loan would exceed (y) the lesser of (A) the Revolver Borrowing Base
and (B) the aggregate Revolver Commitments at such time.

 

(iii)           Notwithstanding
anything to the contrary set forth herein, it is the intention and agreement of the parties that so long as the FILO Commitments shall
not have been terminated: (x) at any time that any Loans (other than Term Loans) shall be outstanding, such outstanding Loans (A) first,
shall be deemed to be FILO Loans up to the amount that causes the FILO Exposure to equal but not exceed the lesser of (1) the FILO
Borrowing Base and (2) the Aggregate FILO Commitment Amount at such time, and (B) second, to Revolver Loans; and (y) at
any time the Borrowers shall make any request for any Loans (other than Term Loans), such request shall be deemed to constitute (A) first,
a request for the funding of FILO Loans up to the amount that causes the FILO Exposure (after giving effect to the funding of such requested
Loans) to equal but not exceed the lesser of (1) the FILO Borrowing Base and (2) the Aggregate FILO Commitment Amount at such
time, and (B) second, a request for the funding of Revolver Loans.

 

2.1.2.       FILO
and Revolver Notes.

 

(a)           The
FILO Loans made by each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender. At the request
of any Lender, Borrowers shall deliver to such Lender a promissory note evidencing such Lender’s FILO Loans.

 

(b)           The
Revolver Loans made by each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender. At the request
of any Lender, Borrowers shall deliver to such Lender a promissory note evidencing such Lender’s Revolver Loans.

 

2.1.3.       Use
of Proceeds. The proceeds of the FILO Loans and Revolver Loans shall be used by Borrowers solely (a) to satisfy existing Debt;
(b) to pay fees and transaction expenses associated with the closing of this credit facility; (c) to pay Obligations in accordance
with this Agreement; and (d) for lawful corporate purposes of Borrowers, including working capital. Borrowers shall not, directly
or indirectly, use any Letter of Credit or Loan proceeds, nor use, lend, contribute or otherwise make available any Letter of Credit
or Loan proceeds to any Subsidiary, joint venture partner or other Person, (i) to fund any activities of or business with any Person,
or in any Designated Jurisdiction, that, at the time of issuance of the Letter of Credit or funding of the Loan, is the subject of any
Sanction; or (ii) in any manner that would result in a violation of a Sanction by any Person (including any Secured Party or other
individual or entity participating in a transaction).

 

    	 	-43-	 

     

    

 

2.1.4.       Termination
and Reduction of FILO and Revolver Commitments.

 

(a)           The
FILO Commitments shall terminate on the FILO Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least
30 days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the FILO Commitments.
Any notice of termination of the FILO Commitments given by Borrowers shall be irrevocable; provided, that a notice of termination of
the credit facilities (including a termination of the FILO Commitments) delivered by Borrowers may state that such notice is conditioned
upon the effectiveness of other credit facilities, in which case such notice may be revoked by Borrowers (by notice to Agent on or prior
to the specified effective date of such termination) if such condition is not satisfied. On the FILO Termination Date, Borrowers shall
make Full Payment of all Obligations in respect of the FILO Loans.

 

(b)          The
Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon
at least 30 days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the Revolver
Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable; provided, that a notice of termination
of the credit facilities (including a termination of the Revolver Commitments) delivered by Borrowers may state that such notice is conditioned
upon the effectiveness of other credit facilities, in which case such notice may be revoked by Borrowers (by notice to Agent on or prior
to the specified effective date of such termination) if such condition is not satisfied. On the termination date, Borrowers shall make
Full Payment of all Obligations.

 

(c)           The
aggregate FILO Commitments shall be automatically reduced on each date that the Aggregate FILO Commitment Amount is reduced as provided
in the definition of “Aggregate FILO Commitment Amount” in Section 1.1 such that the total amount of the FILO Commitments
does not, at any time, exceed the Aggregate FILO Commitment Amount at such time.

 

(d)           Borrowers
may permanently reduce the Aggregate FILO Commitment Amount (and the corresponding total amount of the FILO Commitments, on a pro rata
basis in accordance with each Lender’s Applicable Percentage of the Aggregate FILO Commitment Amount), upon at least 5 Business
Days’ prior written notice to Agent, which notice shall specify the aggregate amount of the reduction and shall be irrevocable
once given. The aggregate amount of each reduction shall be in a minimum amount of $500,000, or an increment of $100,000 in excess thereof.

 

(e)           Borrowers
may permanently reduce the aggregate Revolver Commitments, in accordance with each Lender’s Applicable Percentage of the Revolver
Commitments, upon at least 5 Business Days’ prior written notice to Agent, which notice shall specify the amount of the reduction
and shall be irrevocable once given. Each reduction shall be in a minimum amount of $5,000,000, or an increment of $1,000,000 in excess
thereof.

 

2.1.5.       Overadvances;
Protective Advances.

 

(a)            If
the FILO Exposure exceeds the lesser of (i) the Aggregate FILO Commitment Amount and (ii) the FILO Borrowing Base (a “FILO
Overadvance”) at any time, the excess amount shall be immediately due and payable by Borrowers, without any action by Agent
or notice of any kind, but all FILO Loans and FILO Overadvances shall nevertheless constitute Obligations secured by the Collateral and
entitled to all benefits of the Loan Documents. Any sufferance of a FILO Overadvance for any period of time shall not constitute a waiver
by Agent or Lenders of the Event of Default caused thereby.

 

(b)           If
the aggregate Revolver Loans exceed the Revolver Borrowing Base (a “Revolver Overadvance”) at any time, the excess
amount shall be payable by Borrowers on demand by Agent, but all such Revolver Loans shall nevertheless constitute Obligations
secured by the Collateral and entitled to all benefits of the Loan Documents.

 

    	 	-44-	 

     

    

 

 

(c)            Agent
shall be authorized, in its discretion, notwithstanding that (i) a Revolver Overadvance exists or thereby would be created, (ii) a
Default or Event of Default has occurred and is continuing, and/or (iii) any conditions in Section 6 are not satisfied, to
knowingly and intentionally, continue to make Base Rate Revolver Loans if Agent, in its Permitted Discretion, deems such Base Rate Revolver
Loans necessary or desirable (x) to preserve or protect Collateral, (y) to enhance the collectability or repayment of the Obligations,
or (z) to pay costs, fees and expenses then owing to Agent or any other amount (other than principal) chargeable to Borrowers in
respect of the Obligations (such Loans, “Protective Advances”), so long as (A) after giving effect to such Protective
Advances, the Revolver Exposure does not exceed the Revolver Borrowing Base by more than ten percent (10%), and (B) after giving
effect to such Protective Advances, the Revolver Exposure does not exceed the aggregate Revolver Commitments. Each Lender shall participate
in each Protective Advance in accordance with such Lender’s Applicable Percentage of the Revolver Commitments. Required Lenders
may at any time revoke Agent’s authority to make further Protective Advances under this clause (b) by written notice to Agent.
Absent such revocation, Agent’s determination that funding of a Protective Advance is appropriate shall be conclusive.

 

2.2.         Term
Loan Commitment.

 

2.2.1.        Term
Loans. Each Lender agrees severally, up to its Term Loan Commitment and on the terms set forth herein, to make a Term Loan to Borrowers.
The Term Loans shall be funded by Lenders on the Restatement Date. The Term Loan Commitment of each Lender shall expire upon the funding
by Lenders of the Term Loans.

 

2.2.2.        Term
Notes. The Term Loan made by each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender.
At the request of any Lender, Borrowers shall deliver to such Lender a promissory note evidencing its Term Loan.

 

2.3.         Letter
of Credit Facility.

 

2.3.1.        Issuance
of Letters of Credit. Issuing Bank shall issue Letters of Credit from time to time until 30 days prior to the Revolver Termination
Date (or until the Revolver Termination Date, if earlier), on the terms set forth herein, including the following:

 

(a)            Each
Borrower acknowledges that Issuing Bank’s issuance of any Letter of Credit is conditioned upon Issuing Bank’s receipt of
a LC Application with respect to the requested Letter of Credit, as well as such other instruments and agreements as Issuing Bank may
customarily require for issuance of a letter of credit of similar type and amount. Issuing Bank shall have no obligation to issue any
Letter of Credit unless (i) Issuing Bank receives a LC Request and LC Application at least three Business Days prior to the requested
date of issuance; (ii) each LC Condition is satisfied; and (iii) if a Defaulting Lender exists, such Lender or Borrowers have
entered into arrangements satisfactory to Agent and Issuing Bank to eliminate any Fronting Exposure associated with such Lender. If,
in sufficient time to act, Issuing Bank receives written notice from Required Lenders that a LC Condition has not been satisfied, Issuing
Bank shall not issue the requested Letter of Credit. Prior to receipt of any such notice, Issuing Bank shall not be deemed to have
knowledge of any failure of LC Conditions.

 

(b)            Letters
of Credit may be requested by Borrower Agent, on behalf of an Obligor, to support obligations incurred in the Ordinary Course of Business,
or as otherwise approved by Agent. The renewal or extension of any Letter of Credit shall be treated as the issuance of a new Letter
of Credit, except that delivery of a new LC Application shall be required at the discretion of Issuing Bank.

 

    -45-

     

    

 

(c)            Obligors
assume all risks of the acts, omissions or misuses of any Letter of Credit by the beneficiary. In connection with issuance of any Letter
of Credit, none of Agent, Issuing Bank or any Lender shall be responsible for the existence, character, quality, quantity, condition,
packing, value or delivery of any goods purported to be represented by any Documents; any differences or variation in the character,
quality, quantity, condition, packing, value or delivery of any goods from that expressed in any Documents; the form, validity, sufficiency,
accuracy, genuineness or legal effect of any Documents or of any endorsements thereon; the time, place, manner or order in which shipment
of goods is made; partial or incomplete shipment of, or failure to ship, any goods referred to in a Letter of Credit or Documents; any
deviation from instructions, delay, default or fraud by any shipper or other Person in connection with any goods, shipment or delivery;
any breach of contract between a shipper or vendor and a Borrower; errors, omissions, interruptions or delays in transmission or delivery
of any messages, by mail, cable, telegraph, telex, telecopy, e-mail, telephone or otherwise; errors in interpretation of technical terms;
the misapplication by a beneficiary of any Letter of Credit or the proceeds thereof; or any consequences arising from causes beyond the
control of Issuing Bank, Agent or any Lender, including any act or omission of a Governmental Authority. The rights and remedies of Issuing
Bank under the Loan Documents shall be cumulative. Issuing Bank shall be fully subrogated to the rights and remedies of each beneficiary
whose claims against Borrowers are discharged with proceeds of any Letter of Credit.

 

(d)            In
connection with its administration of and enforcement of rights or remedies under any Letters of Credit or LC Documents, Issuing
Bank shall be entitled to act, and shall be fully protected in acting, upon any certification, documentation or communication in whatever
form believed by Issuing Bank, in good faith, to be genuine and correct and to have been signed, sent or made by a proper Person. Issuing
Bank may consult with and employ legal counsel, accountants and other experts to advise it concerning its obligations, rights and remedies,
and shall be entitled to act upon, and shall be fully protected in any action taken in good faith reliance upon, any advice given by
such experts. Issuing Bank may employ agents and attorneys-in-fact in connection with any matter relating to Letters of Credit or LC
Documents, and shall not be liable for the negligence or misconduct of agents and attorneys-in-fact selected with reasonable care.

 

2.3.2.        Reimbursement;
Participations.

 

(a)            If
Issuing Bank honors any request for payment under a Letter of Credit, Borrowers shall pay to Issuing Bank, on the same day (“Reimbursement
Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Base Rate
Revolver Loans from the Reimbursement Date until payment by Borrowers. The obligation of Borrowers to reimburse Issuing Bank for any
payment made under a Letter of Credit shall be absolute, unconditional, irrevocable, and joint and several, and shall be paid without
regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right
that Borrowers may have at any time against the beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, Borrowers shall
be deemed to have requested a Borrowing of Base Rate Revolver Loans in an amount necessary to pay all amounts due Issuing Bank on any
Reimbursement Date and each Lender agrees to fund its Applicable Percentage of such Borrowing whether or not the Revolver Commitments
have terminated, a Revolver Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied.

 

(b)            Upon
issuance of a Letter of Credit, each Lender shall be deemed to have irrevocably and unconditionally purchased from Issuing Bank, without
recourse or warranty, an undivided interest and participation in all LC Obligations relating to the Letter of Credit, in accordance with
such Lender’s Applicable Percentage. If Issuing Bank makes any payment under a Letter of Credit and Borrowers do not reimburse
such payment on the Reimbursement Date, Agent shall promptly notify Lenders and each Lender shall promptly (within one Business Day)
and unconditionally pay to Agent, for the benefit of Issuing Bank, the Lender’s pro rata share of such payment. Upon request by
a Lender, Issuing Bank shall furnish copies of any Letters of Credit and LC Documents in its possession at such time.

 

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(c)            The
obligation of each Lender to make payments to Agent for the account of Issuing Bank in connection with Issuing Bank’s payment under
a Letter of Credit shall be absolute, unconditional and irrevocable, not subject to any counterclaim, setoff, qualification or exception
whatsoever, and shall be made in accordance with this Agreement under all circumstances, irrespective of any lack of validity or unenforceability
of any Loan Documents; any draft, certificate or other document presented under a Letter of Credit having been determined to be forged,
fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or the existence
of any setoff or defense that any Obligor may have with respect to any Obligations. Issuing Bank does not assume any responsibility for
any failure or delay in performance or any breach by any Borrower or other Person of any obligations under any LC Documents. Issuing
Bank does not make to Lenders any express or implied warranty, representation or guaranty with respect to the Collateral, LC Documents
or any Obligor. Issuing Bank shall not be responsible to any Lender for any recitals, statements, information, representations or warranties
contained in, or for the execution, validity, genuineness, effectiveness or enforceability of any LC Documents; the validity, genuineness,
enforceability, collectibility, value or sufficiency of any Collateral or the perfection of any Lien therein; or the assets, liabilities,
financial condition, results of operations, business, creditworthiness or legal status of any Obligor.

 

(d)            No
Issuing Bank Indemnitee shall be liable to any Lender or other Person for any action taken or omitted to be taken in connection with
any Letter of Credit or LC Document except as a result of its gross negligence or willful misconduct. Issuing Bank may refrain from taking
any action with respect to a Letter of Credit until it receives written instructions from Required Lenders.

 

2.3.3.        Cash
Collateral. If any LC Obligations, whether or not then due or payable, shall for any reason be outstanding at any time (a) that
an Event of Default exists, (b) that Availability is less than zero, or (c) within 10 Business Days prior to the Revolver Termination
Date, then Borrowers shall, at Issuing Bank’s or Agent’s request, Cash Collateralize the stated amount of all outstanding
Letters of Credit and pay to Issuing Bank the amount of all other LC Obligations. Borrowers shall, on demand by Issuing Bank or
Agent from time to time, Cash Collateralize the Fronting Exposure of any Defaulting Lender. If Borrowers fail to provide any Cash Collateral
as required hereunder, Lenders may (and shall upon direction of Agent) advance, as Revolver Loans, the amount of the Cash Collateral
required (whether or not the Revolver Commitments have terminated, a Revolver Overadvance exists or the conditions in Section 6
are satisfied).

 

2.3.4.        Resignation
of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such
resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but
shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior
to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall
be reasonably acceptable to Borrowers.

 

Section 3.        INTEREST,
FEES AND CHARGES

 

3.1.         Interest.

 

3.1.1.        Rates
and Payment of Interest.

 

(a)            The
Obligations shall bear interest (i) if a Base Rate Loan, at the Base Rate in effect from time to time, plus the Applicable Margin;
(ii) if a LIBORBSBY
Loan, at LIBORthe
BSBY Rate for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including,
to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin
for Base Rate Revolver Loans.

 

(b)            During
an Insolvency Proceeding with respect to any Obligor, or during any other Event of Default if Agent or Required Lenders in their discretion
so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Each Obligor acknowledges that
the cost and expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and
reasonable compensation for this.

 

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(c)            Interest
shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in full by Borrowers. If a Loan is repaid
on the same day made, one day’s interest shall accrue. Interest accrued on the Loans shall be due and payable in arrears, (i) on
the first day of each monthInterest
Payment Date; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on
the Revolver Termination Date, FILO Termination Date or Term Loan Maturity Date, as applicable. Interest accrued on any other Obligations
shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand.
Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

 

3.1.2.        Application
of LIBORBSBY
to Outstanding Loans.

 

(a)            Borrowers
may on any Business Day, subject to delivery of a Notice of Conversion/Continuation, elect to convert any portion of the Base Rate Loans
to, or to continue any LIBORBSBY
Loan at the end of its Interest Period as, a LIBORBSBY
Loan. During any Default or Event of Default, Agent may (and shall at the direction of Required Lenders) declare that no Loan
may be made, converted or continued as a LIBORBSBY
Loan.

 

(b)            Whenever
Borrowers desire to convert or continue Loans as LIBOR Loans, Borrower Agent shall give Agent a Notice of Conversion/Continuation,
no later than by
11:00 a.m. at least three Business Days before the requested conversion or continuation date. Promptly after receiving
any such notice, Agent shall notify each Lender thereof. Each Notice of Conversion/Continuation
shall beis
irrevocable, and shall specify the amount of Loans to be converted or continued, the conversion or continuation date (which
shall be a Business Day), and the duration of the Interest Period (which shall be deemed to be 1one
month if not specified). If, upon theat
expiration of anyan
Interest Period in respect of any LIBOR Loansfor
a BSBY Loan, Borrowers shall have failed to deliver a Notice of Conversion/Continuation,
theythe
Loan shall be deemed to have elected to convert such
Loans intoto
a Base Rate LoansLoan.
Agent does not warrant or accept responsibility for, nor shall it have any liability with respect to, administration, submission or any
other matter related to any rate described in the definition of LIBORreference
rate referred to herein or with respect to any rate (including, for the avoidance of doubt, the selection of such rate and any related
spread or other adjustment) that is an alternate, replacement or successor to such rate (including any Successor Rate), or any component
thereof, or the effect of any of the foregoing, or of any Conforming Changes. Agent may select information source(s) in its discretion
to ascertain any reference rate referred to herein or any alternative, successor or replacement rate (including any Successor Rate),
or any component thereof, in each case pursuant to the terms hereof, and shall have no liability to any Lender, Obligor or other Person
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 other act or omission related to or affecting
the selection, determination or calculation of any rate (or component thereof) provided by such information source(s).

 

3.1.3.        Interest
Periods. In connection with the making, conversion or continuation of any LIBOR Loans, Borrowers
shall select an interest period (“"Interest
Period”) to apply, which interest period shall be 1, 2 or 3 months")
of one, three or six months (in each case, subject to availability) to apply to each BSBY Loan; provided, however,
that:(a)  (a) the
Interest Period shall begin on the date the Loan is made or continued as, or converted into, a LIBORBSBY
Loan, and shall expire on the numerically
corresponding day in the calendar month at its end;

 

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(b)            if
any Interest Period begins on a day for which there is no corresponding day in the calendar month at its
endone,
three or six months thereafter, as applicable; (b) if any Interest Period begins on the
last day of a calendar month or on a day for which there is no numerically corresponding day in the
calendar month at its end, or if such corresponding day falls after the last Business Day
of suchthe
end month, then the Interest Period shall expire on the end
month's last Business Day of such month; and if any Interest Period would
otherwise expire on a day that is not a Business Day, the period shall expire on the next Business Day; and (c) (c) no
Interest Period shall extend beyond the Revolver Termination Date, FILO Termination Date or Term Loan Maturity Date, as applicable; and
no Interest Period for a LIBORBSBY
Term Loan may be established that would require repayment before the end of an Interest Period in order to make any scheduled
principal payment on the Term Loans or any mandatory payment in connection with a scheduled reduction of the Aggregate FILO Commitment
Amount.

 

3.1.4.        Interest
Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance
affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein,
then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer
exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as
LIBOR Loans.

 

3.2.         Fees.

 

3.2.1.        Unused
Line Fee. Borrowers shall pay to Agent, for the pro rata benefit of Lenders (based upon each Lender’s Applicable Percentage
of the aggregate Revolver Commitments), a fee equal to the Applicable Unused Line Fee Rate times the amount by which the aggregate Revolver
Commitments exceed the average daily balance of Revolver Loans and stated amount of Letters of Credit during any month. Such fee shall
be payable in arrears, on the first day of each month and on the Revolver Termination Date.

 

3.2.2.        LC
Facility Fees. Obligors shall pay (a) to Agent, for the pro rata benefit of Lenders (based upon each Lender’s Applicable
Percentage of the aggregate Revolver Commitments), a fee equal to the Applicable Margin in effect for LIBORBSBY
Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears,
on the first day of each month; (b) to Agent, for its own account, a fronting fee as set forth in the Fee Letter on the Stated Amount
of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (c) to Issuing Bank,
for its own account, all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration
of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (a) shall
be increased by 2% per annum.

 

3.2.3.        Fee
Letters Borrowers shall pay all fees set forth in any fee letter executed in connection with this Agreement, including the Fee Letter.

 

3.3.         Computation
of Interest, Fees, Yield Protection. All interest, as well as fees and other charges calculated on a per annum basis, shall be
computed for the actual days elapsed, based on a year of 365 days with respect to amounts denominated in GBP and 360 days with respect
to all other amounts. For purposes of the Interest Act (Canada), if applicable, (i) whenever any interest or fee under this
Agreement is calculated using a rate based on a year of 360 days, the rate determined pursuant to such calculation, when expressed as
an annual rate, is equivalent to (x) the applicable rate based on a year of 360 days, multiplied by (y) the actual number of
days in the calendar year in which the period for which such interest or fee is payable (or compounded) ends, and divided by (z) 360,
(ii) the principle of deemed reinvestment of interest does not apply to any interest calculation under this Agreement, and (iii) the
rates of interest stipulated in this Agreement are intended to be nominal rates and not effective rates or yields. Each Obligor confirms
that it understands and is able to calculate the rate of interest applicable to advances based on the methodology for calculating per
annum rates provided for herein. Each Obligor irrevocably agrees not to plead or assert, whether by way of defence or otherwise, in any
proceeding relating to this Agreement or any Loan Documents, that the interest payable hereunder and the calculation thereof has not
been adequately disclosed to the Obligors as required pursuant to Section 4 of the Interest Act (Canada). Each determination by
Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error.
All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2
are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or
detention of money. A certificate as to amounts payable by Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.9, submitted
to Borrower Agent by Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest
error, and Borrowers shall pay such amounts to the appropriate party within 10 days following receipt of the certificate.

 

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3.4.         Reimbursement
Obligations. Borrowers shall reimburse Agent, Issuing Bank and Lenders for all Extraordinary Expenses. Borrowers shall also
reimburse Agent for all reasonable and documented legal, accounting, appraisal, consulting, and other fees, costs and expenses incurred
by it in connection with (a) negotiation and preparation of any Loan Documents, including any amendment or other modification thereof;
(b) administration of and actions relating to any Collateral, Loan Documents and transactions contemplated thereby, including any
actions taken to perfect or maintain priority of Agent’s Liens on any Collateral, to maintain any insurance required hereunder
or to verify Collateral; and (c) subject to the limits of Section 10.1.1(b), each inspection, audit or appraisal with
respect to any Obligor or Collateral, whether prepared by Agent’s personnel or a third party. If, for any reason (including inaccurate
reporting on financial statements or a Compliance Certificate), it is determined that a higher Applicable Margin should have applied
to a period than was actually applied, then the proper margin shall be applied retroactively and Borrowers shall promptly pay to Agent,
for the pro rata benefit of Lenders, an amount equal to the difference between the amount of interest and fees that would have accrued
using the proper margin and the amount actually paid. All amounts payable by Borrowers under this Section shall be due on demand.

 

3.5.         Illegality.
If any Lender determines that any Applicable Law has made it unlawful, or that any Governmental Authority has asserted that it is
unlawful, for any Lender or its applicable Lending Office to
perform any of its obligations hereunder, to make, maintain or,
issue, fund LIBOR Loansor
commit to, participate in, or charge applicable interest or fees with respect to any Loan or Letter of Credit, or to determine
or charge interest ratesor
fees based upon LIBOR, or any Governmental Authority has imposed material restrictions on
the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank marketon
BSBY Rate, then, on notice thereof by such Lender to Agent, (a) any
obligation of such Lender to make orperform
such obligations, to make, maintain, issue, fund, commit to or participate in the Loan or Letter of Credit (or to charge interest or
fees otherwise applicable thereto), or to continue LIBOR Loans or to
convert Base RateLoans
as BSBY Loans to LIBOR Loans,
shall be suspended and
Borrowers shall make such appropriate accommodations regarding affected Letters of Credit as such Lender may reasonably request, (b) if
such notice asserts the illegality of such Lender to make or maintain Base Rate Loans whose interest rate is determined by reference
to BSBY Rate, the interest rate applicable to such Lender's Base Rate Loans shall, as necessary to avoid such illegality, be determined
by Agent without reference to the BSBY Rate component of Base Rate, in each case until such Lender notifies Agent that the
circumstances giving rise to suchLender's
determination no longer exist. Upon delivery of such notice, Borrowers shall prepay or, if
applicable, convert all LIBORBSBY
Loans of such Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully
continue to maintain such LIBOR Loansthe
Loan and charge applicable interest to such day, or immediately, if such Lender may not lawfully
continue tocannot
so maintain such LIBOR Loansthe
Loan. Upon any such prepayment or conversion of
a Loan pursuant to this Section, Borrowers shall also pay accrued interest on the amount so prepaid or converted.

 

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3.6.         Inability
to Determine Rates.

 

3.6.1.        Inability
to Determine Rate3.6.1. . If in
connection with any request for a BSBY Loan or a
conversion to or continuation thereof, as applicable, (a) Agent determines (which
determination shall be conclusive absent manifest error), or Borrower Agent or Required Lenders
notify Agent (with, in the case of the Required
Lenders, a copy to Borrower Agent) that Borrower Agent or Required Lenders (as
applicable) have determined, that for any reason in connection with a request for a Borrowing of, or conversion
to or continuation of, a LIBOR Loan that (a) Dollar deposits are not being offered to banks in
the London interbank Eurodollar market for the applicable amount and Interest Period of such Loan, (b that
(i) no Successor Rate has been determined in accordance with Section 3.6.2, and the circumstances under Section 3.6.2(a) or
the Scheduled Unavailability Date has occurred (as applicable), or (ii) adequate
and reasonable means do not otherwise exist
for determining LIBORBSBY
Rate for theany requested
Interest Period with
respect to a proposed BSBY Loan or in connection with an existing or proposed Base Rate Loan, or (cb) LIBOR
for theAgent or Required Lenders determine
that for any reason BSBY Rate for any requested Interest Period with
respect to a proposed BSBY Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, then Agent
will promptly so notify Borrower AgentBorrowers and each
LenderLenders.
Thereafter, (x) the
obligation of Lenders to make or, maintain LIBOR,
or convert Base Rate Loans to, BSBY Loans shall be suspended until Agent
((to
the extent of the affected BSBY Loans or Interest Periods), and (y) in the event of a determination described in the preceding
sentence with respect to the BSBY Rate component of Base Rate, the utilization of such component in determining Base Rate shall be
suspended, in each case until Agent (or, in the case of a determination by Required Lenders described above, until Agent upon
instruction byof Required
Lenders) revokes such notice. Upon receipt of such notice, Borrower Agent(I) Borrowers may
revoke any pending request for a Borrowing of, conversion to or
continuation of a LIBOR LoanBSBY
Loans (to the extent of the affected BSBY Loans or Interest Periods) or, failing that, will be deemed to have submittedconverted
such request into a request for a Base Rate LoanLoans,
and (II) any outstanding BSBY Loans shall convert to Base Rate Loans at the end of their respective Interest
Periods.

 

3.6.2.        Successor
Rates3.6.2. Notwithstanding anything to the contrary in this
Agreement or any other Loan Document, if Agent ‎determines
(which determination shall be conclusive absent manifest error), or Borrower Agent or ‎Required
Lenders notify Agent (with, in the case of the Required Lenders, a copy to Borrower Agent)
‎that Borrowers or Required Lenders (as applicable) have determined, that:‎‎(a)‎     adequate
and reasonable means do not exist for ascertaining LIBOR for any Interest ‎Period hereunder or any
other tenorsone,
three and six month interest periods of LIBORBSBY
Rate, including because the LIBORBSBY
Screen Rate is not ‎available or published on a current basis,
and such circumstances are unlikely to be temporary; ‎or

 

(b)            theBloomberg
or any successor administrator of the LIBORBSBY
Screen Rate or a Governmental Authority having ‎jurisdiction over Agent,
Bloomberg or such administrator with
respect to its publication of BSBY, in each case acting in such capacity, has made a public statement identifying a specific
‎date after which LIBORone,
three and six month interest periods of BSBY Rate or the LIBORBSBY
Screen Rate shall or
will no longer be made available, or permitted
to be used for ‎determining the interest rate of loansU.S.
dollar denominated syndicated loans, or shall or will otherwise cease, provided, that,
at the time of such statement, there is no ‎successor administrator
that is satisfactory to Agent that will continue to provide LIBORsuch
interest periods of BSBY Rate after such ‎specific date (such
specificthe
latest date, “ on
which one, three and six month interest periods of BSBY Rate or the BSBY Screen Rate are no longer available permanently or indefinitely,
 "Scheduled Unavailability Date”");‎

 

‎(c)‎            the
administrator of the LIBOR Screen Rate or a Governmental Authority having ‎jurisdiction over such administrator has made a public
statement announcing that all Interest Periods ‎and other tenors of LIBOR are no longer representative;‎

 

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‎(d)‎            syndicated
loans currently being executed, or that include language similar to that ‎contained in this Section, are being executed or amended
(as applicable) to incorporate or adopt a ‎new benchmark interest rate to replace LIBOR;‎

 

then, in the
case of clauses (a) through (c) above, on a date and time determined by Agent (any ‎such
date, “LIBOR"BSBY
Replacement Date”"),
which date shall be at the end of an Interest Period or on ‎the relevant interest
payment date, as applicable, for interest calculated and shall occur reasonably ‎promptly upon the
occurrence of any of the events or circumstances under clauses (a), (b) or (c) ‎above and, solely with
respect to clause (b) above, no later than the Scheduled Unavailability Date, ‎LIBORBSBY
Rate will be replaced hereunder and under theany
other applicable
Loan DocumentsDocument
with, subject to the ‎proviso below, the first available alternative
set forth in the order below for any payment period for ‎interest calculated that
can be determined by Agent, in each case, without any amendment to, or ‎further
action or consent of any other party to, this Agreement or any other
Loan Document ‎‎(“LIBOR
"Successor
Rate”; and any such rate before giving effect to the Related Adjustment, “Pre-‎Adjustment
Successor Rate”"):‎

 

(xi)‎            Term
SOFR plus the RelatedSOFR
Adjustment; and‎

 

(yii)          Daily
Simple SOFR plus the RelatedSOFR
Adjustment; ‎

 

and in the case
of clause (d) above, Agent and Borrower Agent may amend this Agreement solely ‎for the purpose of replacing LIBOR under this
Agreement and the other Loan Documents in ‎accordance with the definition of “LIBOR Successor Rate” and such amendment
will become ‎effective at 5:00 p.m. on the fifth Business Day after Agent shall have notified Lenders and ‎Borrower Agent
of the occurrence of the circumstances described in clause (d) above unless, prior ‎to such time, Required Lenders have delivered
to Agent written notice that such Required Lenders ‎object to the implementation of a LIBOR Successor Rate pursuant to such clause;
provided, that if ‎provided,
that if initially BSBY is replaced with Daily Simple SOFR plus the SOFR Adjustment and, subsequent to such replacement, Agent
determines that Term SOFR has become available, and
is administratively feasible for Agent and ‎would have been identified as the Pre-Adjustment
Successor Rate in accordance with the foregoing ‎if it had been so available at the time that the LIBOR Successor Rate then in effect
was so ‎identifiedin
its discretion, and Agent
notifies Borrower Agent and Lenders of such availability, then from and after the ‎beginning
of the Interest Period, relevant interest payment date or payment period for interest ‎calculated,
in each case, commencing no less than 30 days after the date of such notice, the Pre-‎Adjustment
Successor Rate shall be Term SOFR and the LIBOR Successor Rate shall be Term ‎SOFR
plus the relevant RelatedSOFR
Adjustment. ‎If
the Successor Rate is Daily Simple SOFR plus the SOFR Adjustment, all interest will be payable on a monthly basis.

 

Agent
will promptly (in one or more notices) notify Borrower Agent and Lenders of (x) any
 ‎occurrence of any of the events, periods or circumstances under clauses (a) through (c) above, (y) a ‎LIBOR Replacement
Date, and (z) the LIBOR Successor Rate. Any LIBOR Successor Rate shall be ‎applied in a manner consistent with market practice;
provided, that to the extent such market ‎practice is not administratively feasible for Agent, such LIBOR Successor Rate shall be
applied in a ‎manner as otherwise reasonably determined by Agent. Notwithstanding anything else
herein, if at ‎any time any LIBOR Successor Rate as so determined would otherwise be less than 0.375%,
the ‎LIBOR Successor Rate will be deemed to be 0.375%‎ ‎ for the purposes of this Agreement and the ‎other Loan Documents.‎

 

In connection
with the implementation of a LIBOR Successor Rate, Agent will have the ‎right to make LIBOR Successor Rate Conforming Changes from
time to time and, notwithstanding ‎anything to the contrary herein or in any other Loan Document, any amendments implementing ‎such
LIBOR Successor Rate Conforming Changes will become effective without any further action ‎or consent of any other party to this Agreement;
provided, that with respect to any such amendment ‎effected, Agent shall post each such amendment implementing such LIBOR Successor
Rate ‎Conforming Changes to Borrower Agent and Lenders reasonably promptly after such amendment ‎becomes effective.‎

 

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If events
or circumstances of the type described in clauses (a) through (c) above have ‎occurred with respect to the LIBOR Successor
Rate then in effect, then the successor rate thereto ‎shall be determined in accordance with the definition of “LIBOR Successor
Rate”.

 

3.6.3.       Notwithstanding
anything to the contrary herein, (ax)
after any such determination by Agent or receipt by Agent of any such notice described under Section 3.6.2(a) through
(c), as applicable, if Agent determines that noneneither
of the LIBOR Successor Ratesalternatives
in clauses (i) and (ii) above is available on or prior to the LIBORBSBY
Replacement Date, (ii) if the events or circumstances described in Section 3.6.2(d) have
occurred but none of the LIBOR Successor Rates is available, or (iii or
(y) if the events or circumstances of the type described in Section 3.6.2clauses
(a) throughor
(c)b)
above have occurred with respect to the LIBOR Successor Rate then in effect
and Agent determines that none of the LIBOR Successor Rates is available, then in each
case, Agent and Borrower Agent may amend this Agreement solely for the purpose of replacing LIBORBSBY
Rate or any then current LIBOR Successor Rate in accordance with this Section at
the end of any Interest Period, relevant interest payment date or payment period for interest calculated, as applicable, with another
alternatean
alternative benchmark rate giving due consideration to any evolving or then existing convention for such
alternative benchmarks in similar U.S. dollar denominated syndicated
credit facilities for such alternative
benchmarkssyndicated
and agented in the United States and, in each case, including any Related Adjustments and
any other mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing
convention for such benchmarks
in similar U.S. dollar denominated syndicated credit facilities for
such benchmarkssyndicated
and agented in the United States, which adjustment or method for calculating such adjustment shall be published on an information
service as selected by Agent from time to time in its discretion and may be periodically
updated. For the avoidance of doubt, any such proposed rate and adjustments shall constitute a LIBOR
Successor Rate. Any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after Agent shall
have postedposts
such proposed amendment to all
Lenders and Borrower AgentBorrowers
unless, prior to such time, Required Lenders have delivereddeliver
to Agent written notice that such Required Lenders object to suchthe
amendment.

 

3.6.4.        If,
at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no LIBOR Successor Rate
has been determined in accordance with Section 3.6.2 or 3.6.3 and the circumstances under Section 3.6.2(a) or (c) above
exist or the Scheduled Unavailability Date has occurred (as applicable), Agent
will promptly so notify Borrower Agent and Lenders. Thereafter, (a) the obligation of Lenders to make or maintain LIBOR Loans shall
be suspended (to the extent of the affected LIBOR Loans, Interest Periods, interest payment dates or payment periods), and (b) the
LIBOR component shall no longer be utilized in determining Base Rate, until the LIBOR Successor Rate has been determined in accordance
with Section 3.6.2 or 3.6.3. Upon receipt of such notice, Borrowers may revoke any pending request for a Borrowing of, conversion
to or continuation of LIBOR Loans (to the extent of the affected Loans, Interest Periods, interest payment dates or payment periods)
or, failing that, will be deemed to have converted such request into a request for Base Rate Loans (subject to the foregoing clause (b)).

 

Agent
will promptly (in one or more notices) notify Borrowers and Lenders of implementation of any
Successor Rate. A Successor Rate shall be applied in a manner consistent with market practice; provided, that to the extent market practice
is not administratively feasible for Agent, the Successor Rate shall be applied in a manner as otherwise reasonably determined by Agent.
If a Successor Rate includes a SOFR-based rate, then as of the BSBY Replacement Date, the Unused Line Fee Rate shall increase by percentage
points equal to the SOFR Adjustment for a one month interest period. Notwithstanding anything else
herein, if at any time any Successor Rate as so determined would otherwise be less than zero, the Successor
Rate will be deemed to be zero for all purposes of the Loan Documents.

 

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3.7.         Increased
Costs; Capital Adequacy.

 

3.7.1.        Change
in Law. If any Change in Law shall:

 

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

 

(b)            subject
any Recipient to Taxes (other than (i) Indemnified Taxes, (ii) Taxes described in clauses (b) through (d) of the
definition of Excluded Taxes, and (iii) Connection Income Taxes) with respect to any Loan, Letter of Credit, Commitment or other
obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

 

(c)            impose
on any Lender, Issuing Bank or interbank market any other condition, cost or expense affecting any Loan, Loan Document, Letter of
Credit, participation in LC Obligations, or Commitment;

 

and the result thereof shall be to increase the
cost to such Lender of making or maintaining any Loan or Commitment, or to increase the cost to such Lender or Issuing Bank of participating
in, issuing or maintaining any Letter of Credit, or to reduce the amount of any sum received or receivable by such Lender or Issuing
Bank hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or Issuing Bank, Borrowers will
pay to such Lender or Issuing Bank, as applicable, such additional amount or amounts as will compensate such Lender or Issuing Bank,
as applicable, for such additional costs incurred or reduction suffered.

 

3.7.2.        Capital
Adequacy. If any Lender or Issuing Bank determines that any Change in Law affecting such Lender or Issuing Bank or any Lending Office
of such Lender or such Lender’s or Issuing Bank’s holding company, if any, regarding capital or liquidity requirements has
or would have the effect of reducing the rate of return on such Lender’s, Issuing Bank’s or holding company’s
capital as a consequence of this Agreement, or such Lender’s or Issuing Bank’s Commitments, Loans, Letters of Credit or participations
in LC Obligations, to a level below that which such Lender, Issuing Bank or holding company could have achieved but for such Change
in Law (taking into consideration such Lender’s, Issuing Bank’s and holding company’s policies with respect to
capital adequacy), then from time to time Borrowers will pay to such Lender or Issuing Bank, as the case may be, such additional amount
or amounts as will compensate it or its holding company for any such reduction suffered.

 

3.7.3.        LIBOR
Loan Reserves. If any Lender is required to maintain reserves with respect to liabilities or assets consisting of
or including Eurocurrency funds or deposits, Borrowers shall pay additional interest to such Lender on each LIBOR Loan equal to the costs
of such reserves allocated to the Loan by the Lender (as determined by it in good faith, which determination shall be conclusive). The
additional interest shall be due and payable on each interest payment date for the Loan; provided, however, that if the Lender notifies
Borrowers (with a copy to Agent) of the additional interest less than 10 days prior to the interest payment date, then such interest
shall be payable 10 days after Borrowers' receipt of the notice.

 

3.7.3.        3.7.4.
Compensation. Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant to this
Section shall not constitute a waiver of its right to demand such compensation, but Borrowers shall not be required to compensate
a Lender or Issuing Bank for any increased costs incurred or reductions suffered more than nine months prior to the date that the Lender
or Issuing Bank notifies Borrower Agent of the Change in Law giving rise to such increased costs or reductions and of such Lender’s
or Issuing Bank’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs
or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect
thereof).

 

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3.8.         Mitigation.
If any Lender gives a notice under Section 3.5 or requests compensation under Section 3.7, or if Borrowers are
required to pay any Indemnified Taxes or additional amounts with respect to a Lender under Section 5.9, then such Lender
shall use reasonable efforts to designate a different Lending Office or to assign its rights and obligations hereunder to another of
its offices, branches or Affiliates, if, in the judgment of such Lender, such designation or assignment (a) would eliminate the
need for such notice or reduce amounts payable or to be withheld in the future, as applicable; and (b) would not subject the Lender
to any unreimbursed cost or expense and would not otherwise be disadvantageous to it or unlawful. Borrowers shall pay all reasonable
costs and expenses incurred by any Lender in connection with any such designation or assignment.

 

3.9.         Funding
Losses. If for any reason (other than default by a Lender) (a) any Borrowing
of, or conversion to
or continuation of, a LIBOR
Loan does not occur on the ‎date
specified therefor in a Notice of Borrowing or Notice of Conversion/Continuation (whether or ‎not
withdrawn), (b) any repayment or conversion of a LIBOR Loan occurs on a day other
than the end of ‎its
Interest Period or tenor,
(c) Borrowers fail to repay a LIBOR Loan when required hereunder,
or (d) a Lender (other ‎than
a Defaulting Lender) is required to assign a LIBOR Loan prior to the end of its Interest
Period or tenor ‎pursuant
to Section 13.4, then Borrowers shall pay to Agent its customary administrative charge ‎and
to each Lender all resulting losses and,
expenses, including loss of anticipated profits and any
loss or expensefees
arising from liquidation or redeployment of funds or from
fees payable to terminate deposits of matching funds. Lenders shall not be required to purchase Dollar deposits in any interbank or offshore
Dollar market to fund any LIBOR Loan, but this Section shall apply as if each Lender had purchased such depositstermination
 ‎of match funding.‎

 

3.10.       Maximum
Interest. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under
the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by Applicable Law (“maximum rate”).
If Agent or any Lender shall receive interest in an amount that exceeds the maximum rate, the excess interest shall be applied to the
principal of the Obligations or, if it exceeds such unpaid principal, refunded to Borrowers. In determining whether the interest contracted
for, charged or received by Agent or a Lender exceeds the maximum rate, such Person may, to the extent permitted by Applicable Law, (a) characterize
any payment that is not principal as an expense, fee or premium rather than interest; (b) exclude voluntary prepayments and the
effects thereof; and (c) amortize, prorate, allocate and spread in equal or unequal parts the total amount of interest throughout
the contemplated term of the Obligations hereunder.

 

Section 4.        LOAN
ADMINISTRATION

 

4.1.         Manner
of Borrowing and Funding of FILO Loans and Revolver Loans.

 

4.1.1.        Notice
of Borrowing.

 

(a)            Whenever
Borrowers desire funding of a Borrowing of Revolver Loans (or, if applicable, FILO Loans) Borrower Agent shall give Agent a Notice of
Borrowing. Such notice must be received by Agent no later than 11:00 a.m. (i) on the Business Day of the requested funding
date, in the case of Base Rate Loans, and (ii) at least three Business Days prior to the requested funding date, in the case of
LIBORBSBY
Loans. Notices received after 11:00 a.m. shall be deemed received on the next Business Day. Each Notice of Borrowing
shall be irrevocable and shall specify (A) the amount of the Borrowing, (B) the requested funding date (which must be a Business
Day), (C) whether the Borrowing is to be made as Base Rate Loans or LIBORBSBY
Loans, and (D) in the case of LIBORBSBY
Loans, the duration of the applicable Interest Period (which shall be deemed to be 1 month if not specified).

 

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(b)            Unless
payment is otherwise timely made by Borrowers, the becoming due of any Obligations (whether principal, interest, fees or other charges,
including Extraordinary Expenses, LC Obligations, Cash Collateral and Secured Bank Product Obligations) shall be deemed to be a request
for Base Rate Revolver Loans (or, if applicable, Base Rate FILO Loans); on the due date, in the amount of such Obligations. The proceeds
of such Revolver Loans (or FILO Loans) shall be disbursed as direct payment of the relevant Obligation. In addition, Agent may, at its
option, charge such Obligations against any operating, investment or other account of a Borrower maintained with Agent or any of its
Affiliates.

 

(c)            If
Borrowers maintain any disbursement account with Agent or any Affiliate of Agent, then presentation for payment of any Payment Item when
there are insufficient funds to cover it shall be deemed to be a request for a Base Rate Revolver Loan (or, if applicable, a Base Rate
FILO Loan) in the date of such presentation, in the amount of the Payment Item. The proceeds of such Revolver Loan (or FILO Loan) may
be disbursed directly to the disbursement account.

 

4.1.2.        Fundings
by Lenders. Each Lender shall timely honor its Commitments by funding its Applicable Percentage of each Borrowing that is properly
requested hereunder. Except for Borrowings to be made as Swingline Loans, Agent shall endeavor to notify Lenders of each Notice of Borrowing
(or deemed request for a Borrowing) by 12:00 noon on the proposed funding date for Base Rate Loans or by 3:00 p.m. at least two
Business Days before any proposed funding of LIBORBSBY
Loans. Each Lender shall fund to Agent such Lender’s Applicable Percentage of the Borrowing to the account specified
by Agent in immediately available funds not later than 2:00 p.m. on the requested funding date, unless Agent’s notice is received
after the times provided above, in which case Lender shall fund its Applicable Percentage by 11:00 a.m. on the next Business Day.
Subject to its receipt of such amounts from Lenders, Agent shall disburse the proceeds of each Borrowing as directed by Borrower Agent.
Unless Agent shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Applicable
Percentage of a Borrowing, Agent may assume that such Lender has deposited or promptly will deposit its share with Agent, and Agent may
disburse a corresponding amount to Borrowers. If a Lender’s share of any Borrowing or of any settlement pursuant to Section 4.1.3(b) is
not received by Agent, then Borrowers agree to repay to Agent on demand the amount of such share, together with interest thereon
from the date disbursed until repaid, at the rate applicable to the Borrowing. A Lender or Issuing Bank may fulfill its obligations under
Loan Documents through one or more Lending Offices, and this shall not affect any obligation of Obligors under the Loan Documents or
with respect to any Obligations.

 

4.1.3.        Swingline
Loans; Settlement.

 

(a)            Agent
may, but shall not be obligated to, advance Swingline Loans to Borrowers, up to an aggregate outstanding amount of $6,000,000, unless
the funding is specifically required to be made by all Lenders hereunder. Each Swingline Loan shall constitute a Revolver Loan for all
purposes, except that payments thereon shall be made to Agent for its own account. The obligation of Borrowers to repay Swingline Loans
shall be evidenced by the records of Agent and need not be evidenced by any promissory note.

 

(b)            Settlement
of Swingline Loans and other Revolver Loans among Lenders and Agent shall take place on a date determined from time to time by Agent
(but at least weekly), in accordance with the Settlement Report delivered by Agent to Lenders. Between settlement dates, Agent may in
its discretion apply payments on Revolver Loans to Swingline Loans, regardless of any designation by Borrower or any provision herein
to the contrary. Each Lender’s obligation to make settlements with Agent is absolute and unconditional, without offset, counterclaim
or other defense, and whether or not the Revolver Commitments have terminated, a Revolver Overadvance exists or the conditions in Section 6
are satisfied. If, due to an Insolvency Proceeding with respect to a Borrower or otherwise, any Swingline Loan may not be settled
among Lenders hereunder, then each Lender shall be deemed to have purchased from Agent a participation in such Loan (based upon such
Lender’s Applicable Percentage thereof) and shall transfer the amount of such participation to Agent, in immediately available
funds, within one Business Day after Agent’s request therefor.

 

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4.1.4.        Notices.
Borrowers may request, convert or continue Loans, select interest rates and transfer funds based on telephonic or e-mailed instructions
to Agent. Borrowers shall confirm each such request by prompt delivery to Agent of a Notice of Borrowing or Notice of Conversion/Continuation,
if applicable, but if it differs materially from the action taken by Agent or Lenders, the records of Agent and Lenders shall govern.
Neither Agent nor any Lender shall have any liability for any loss suffered by a Borrower as a result of Agent or any Lender acting upon
its understanding of telephonic or e-mailed instructions from a person believed in good faith by Agent or any Lender to be a person authorized
to give such instructions on a Borrower’s behalf.

 

4.1.5.        ‎Conforming
Changes. Agent may make Conforming Changes from time to time with respect to BSBY or any Successor ‎Rate. Notwithstanding anything
to the contrary in any Loan Document, any amendment ‎implementing such changes shall be effective without further action or consent
of any party to any ‎Loan Document. Agent shall post or provide each such amendment to Lenders and Borrower ‎Agent reasonably
promptly after it becomes effective.‎

 

4.2.         Defaulting
Lender.

 

4.2.1.        Reallocation
of Applicable Percentage; Amendments. For purposes of determining Lenders’ obligations to fund or participate in Loans or Letters
of Credit, Agent may exclude the Revolver Commitments and FILO Commitments and Loans of any Defaulting Lender(s) from the calculation
of Applicable Percentages. A Defaulting Lender shall have no right to vote on any amendment, waiver or other modification of a Loan Document,
except as provided in Section 14.1.1(c).

 

4.2.2.        Payments;
Fees. Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a
Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders
and other Secured Parties have been paid in full. Agent may apply such amounts to the Defaulting Lender’s defaulted obligations,
use the funds to Cash Collateralize such Lender’s Fronting Exposure, or readvance the amounts to Borrowers hereunder. A Lender
shall not be entitled to receive any fees accruing hereunder during the period in which it is a Defaulting Lender, and the unfunded portion
of its Revolver Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1. If any
LC Obligations owing to a Defaulted Lender are reallocated to other Lenders, fees attributable to such LC Obligations under Section 3.2.2
shall be paid to such Lenders. Agent shall be paid all fees attributable to LC Obligations that are not reallocated.

 

4.2.3.        Cure.
Borrowers, Agent and Issuing Bank may agree in writing that a Lender is no longer a Defaulting Lender. At such time, Applicable Percentages
shall be reallocated without exclusion of such Lender’s Commitments and Loans, and all outstanding Revolver Loans, FILO Loans,
LC Obligations and other exposures under the Revolver Commitments and FILO Commitments shall be reallocated among Lenders and settled
by Agent (with appropriate payments by the reinstated Lender) in accordance with the readjusted Applicable Percentages. Unless expressly
agreed by Borrowers, Agent and Issuing Bank, no reinstatement of a Defaulting Lender shall constitute a waiver or release of claims against
such Lender. The failure of any Lender to fund a Loan, to make a payment in respect of LC Obligations or otherwise to perform its obligations
hereunder shall not relieve any other Lender of its obligations, and no Lender shall be responsible for default by another Lender.

 

4.3.         Number
and Amount of LIBORBSBY
Loans; Determination of Rate. Each Borrowing of LIBORBSBY
Loans when made shall be in a minimum amount of $1,000,000, plus any increment of $500,000 in excess thereof. No more than
six (6) Borrowings of LIBORBSBY
Loans may be outstanding at any time, and all LIBORBSBY
Loans having the same length and beginning date of their Interest Periods shall be aggregated together and considered one
Borrowing for this purpose. Upon determining LIBORBSBY
Rate for any Interest Period requested by Borrowers, Agent shall ‎promptly
notify Borrowers thereof by telephone or electronically and, if requested by Borrowers, ‎shall
confirm any telephonic notice in writing.‎

 

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4.4.        Borrower
Agent. Each Borrower and Obligor hereby designates SI USA (“Borrower Agent”) as its representative and agent
for all purposes under the Loan Documents, including requests for Loans and Letters of Credit, designation of interest rates, delivery
or receipt of communications, preparation and delivery of Borrowing Base Certificates and financial reports, receipt and payment of Obligations,
requests for waivers, amendments or other accommodations, actions under the Loan Documents (including in respect of compliance with covenants),
and all other dealings with Agent, Issuing Bank or any Lender. Borrower Agent hereby accepts such appointment. Agent and Lenders
shall be entitled to rely upon, and shall be fully protected in relying upon, any notice or communication (including any notice of borrowing)
delivered by Borrower Agent on behalf of any Borrower or another Obligor. Agent and Lenders may give any notice or communication with
a Borrower or another Obligor hereunder to Borrower Agent on behalf of such Borrower or another Obligor. Each of Agent, Issuing
Bank and Lenders shall have the right, in its discretion, to deal exclusively with Borrower Agent for any or all purposes under the Loan
Documents. Each Borrower and Obligor agrees that any notice, election, communication, representation, agreement or undertaking made on
its behalf by Borrower Agent shall be binding upon and enforceable against it.

 

4.5.         One
Obligation. The Loans, LC Obligations and other Obligations constitute one general obligation of Borrowers and are secured by
Agent’s Lien on all Collateral; provided, however, that Agent and each Lender shall be deemed to be a creditor of,
and the holder of a separate claim against, each Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

 

4.6.         Effect
of Termination. On the effective date of the termination of all Commitments, the Obligations shall be immediately due and payable,
and each Secured Bank Product Provider may terminate its and its Affiliates’ Bank Products (including, only with the consent of
Agent, any Cash Management Services). Until Full Payment of the Obligations, all undertakings of Borrowers contained in the Loan Documents
shall continue, and Agent shall retain its Liens in the Collateral and all of its rights and remedies under the Loan Documents. Agent
shall not be required to terminate its Liens unless it receives Cash Collateral or a written agreement, in each case satisfactory to
it, protecting Agent and Lenders from the dishonor or return of any Payment Items previously applied to the Obligations. Sections
2.3, 3.4, 3.6, 3.7, 3.9, 5.5, 5.9, 5.10, 12, 14.2, this Section, and each indemnity or waiver given by an Obligor or Lender
in any Loan Document, shall survive Full Payment of the Obligations.

 

Section 5.        PAYMENTS

 

5.1.         General
Payment Provisions. All payments of Obligations shall be made in Dollars, without offset, counterclaim or defense of any kind,
free of (and without deduction for) any Taxes, except as required by Applicable Law, and in immediately available funds, not later than
12:00 noon on the due date. Any payment after such time shall be deemed made on the next Business Day. Any payment of a LIBORBSBY
Loan prior to the end of its Interest Period shall be accompanied by all amounts due under Section 3.9. Borrowers
agree that Agent shall have the continuing, exclusive right to apply and reapply payments and proceeds of Collateral against the Obligations,
in such manner as Agent deems advisable, but whenever possible, any prepayment of Loans shall be applied first to Base Rate Loans and
then to LIBORBSBY
Loans.

 

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5.2.         Repayment
of FILO Loans and Revolver Loans.

 

(a)            FILO
Loans shall be due and payable in full on the FILO Termination Date, unless payment is sooner required hereunder. FILO Loans may be prepaid
from time to time, without penalty or premium; provided that Borrowers shall not prepay FILO Loans at any time that Revolver Loans are
outstanding unless (i) a FILO Overadvance shall exist, in which case Borrowers shall, on the sooner of Agent’s demand or the
first Business Day after any Borrower has knowledge of the existence of such FILO Overadvance, repay FILO Loans in an amount sufficient
to cause the FILO Exposure to equal but not exceed the lesser of (A) the Aggregate FILO Commitment Amount and (B) the FILO
Borrowing Base, or (ii) such prepayment of the FILO Loan is accompanied by a permanent dollar for dollar reduction in the Aggregate
FILO Commitment Amount such that, after giving effect to such prepayment and reduction, the FILO Exposure is equal to but does not exceed
the lesser of (A) the Aggregate FILO Commitment Amount and (B) the FILO Borrowing Base.

 

(b)            Revolver
Loans shall be due and payable in full on the Revolver Termination Date, unless payment is sooner required hereunder. Revolver Loans
may be prepaid from time to time, without penalty or premium. If any Asset Disposition includes the disposition of Accounts or Inventory,
then the Net Proceeds of such Asset Disposition (minus any Net Proceeds required to prepay FILO Loans pursuant to clause (a) above)
in an amount equal to the greater of (a) the net book value of such Accounts and Inventory, or (b) the reduction in the Revolver
Borrowing Base upon giving effect to such disposition, shall be applied to the Revolver Loans. Notwithstanding anything herein to the
contrary, if a Revolver Overadvance exists, Borrowers shall, on the sooner of Agent’s demand or the first Business Day after any
Borrower has knowledge thereof, repay the outstanding Revolver Loans in an amount sufficient to cause Availability to no longer be less
than zero.

 

5.3.         Repayment
of Term Loans.

 

5.3.1.        Payment
of Principal. The principal amount of the Term Loans shall be repaid on the first day of each calendar quarter in consecutive quarterly
installments of $375,000, commencing on January 1, 2021 and continuing until the Term Loan Maturity Date, on which date all principal,
interest and other amounts owing with respect to the Term Loans shall be due and payable in full. Each installment shall be paid to Agent
for the pro rata benefit of Lenders, in accordance with each Lender’s Applicable Percentage of the Term Loans. Once repaid, whether
such repayment is voluntary or required, Term Loans may not be reborrowed.

 

5.3.2.        Mandatory
Prepayments.

 

(a)            If
at any time, the aggregate outstanding principal amount of the Term Loans exceeds the Term Loan Maximum Amount at such time, Borrowers
shall, on the sooner of Agent’s demand or the first Business Day after any Borrower has knowledge thereof, repay the outstanding
Term Loans in an amount sufficient to cause the aggregate outstanding principal amount of the Term Loans to be less than or equal to
the Term Loan Maximum Amount then in effect.

 

(b)            Concurrently
with any Permitted Asset Disposition of Other Collateral, Borrowers shall prepay Term Loans in an amount equal to the Net Proceeds of
such disposition; provided, that, so long as no Default or Event of Default has occurred and is continuing, Net Proceeds from any single
such Asset Disposition in an amount not in excess of $2,000,000 shall not be required to be so applied to the extent Borrowers deliver
to Agent a certificate stating that Obligors intend to use such Net Proceeds to acquire assets that are used or useful in the business
of Obligors within 180 days of the receipt of such Net Proceeds, it being expressly agreed that all such Net Proceeds not so reinvested
shall be immediately applied to prepay the Loans upon the expiration of such 180 day period.

 

(c)            Concurrently
with the receipt of any proceeds of insurance or condemnation or expropriation awards paid in respect of any Other Collateral, Borrowers
shall prepay Term Loans in an amount equal to such proceeds, subject to Section 8.6.2.

 

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(d)            Concurrently
with any incurrence of Debt by an Obligor (other than Debt permitted under Section 10.2.1), Borrower shall prepay Term Loans
in an amount equal to the net proceeds of such incurrence of Debt.

 

(e)            On
the Revolver Termination Date, Borrowers shall prepay all Term Loans (unless sooner repaid hereunder).

 

(f)     
        Optional Prepayments. Borrowers may, at their option from time to time, prepay the
Term Loans, without penalty or premium, which prepayment must be at least $500,000, plus any increment of $100,000 in excess
thereof. Borrower shall give written notice to Agent of an intended prepayment of Term Loans not later than 3 Business Days prior to
the date of such prepayment, which notice shall specify the amount of the prepayment and be irrevocable once given; provided, that
if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.1.4(a),
then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.1.4(a).

 

5.3.3.        Application
of Prepayments. Each prepayment of Term Loans shall be accompanied by all interest accrued thereon and shall be applied to principal
in inverse order of maturity.

 

5.4.         Payment
of Other Obligations. Obligations other than Loans, including LC Obligations and Extraordinary Expenses, shall be paid by Borrowers
as provided in the Loan Documents or, if no payment date is specified, on demand.

 

5.5.         Marshaling;
Payments Set Aside. None of Agent or Lenders shall be under any obligation to marshal any assets in favor of any Obligor or against
any Obligations. If any payment by or on behalf of Borrowers is made to Agent, Issuing Bank or any Lender, or Agent, Issuing
Bank or any Lender exercises a right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by Agent, Issuing
Bank or such Lender in its discretion) to be repaid to a trustee, receiver or any other Person, then to the extent of such recovery,
the Obligation originally intended to be satisfied, and all Liens, rights and remedies relating thereto, shall be revived and continued
in full force and effect as if such payment had not been made or such setoff had not occurred.

 

5.6.         Application
and Allocation of Payments.

 

5.6.1.        Application.
Payments made by Borrowers hereunder shall be applied (a) first, as specifically required hereby; (b) second,
to Obligations then due and owing; (b) third, to other Obligations specified by Borrowers (provided that, if at the time
of any such payments any Revolver Loans are outstanding, such payment shall be applied first to the Revolver Loans and second
to the FILO Loans, unless, after giving effect to such payment, the FILO Exposure shall exceed the lesser of (i) the Aggregate
FILO Commitment Amount and (ii) the FILO Borrowing Base); and (c) fourth, as determined by Agent in its discretion.

 

5.6.2.        Post-Default
Allocation. Notwithstanding anything in any Loan Document to the contrary, during an Event of Default, monies to be applied to the
Obligations, whether arising from payments by Obligors, realization on the Collateral, setoff or otherwise, shall be allocated as follows:

 

(a)            To
the extent such monies constitute Current Asset Collateral or proceeds of Current Asset Collateral, such monies shall be applied as follows:

 

(i)            first,
to all Extraordinary Expenses owing to Agent, Issuing Bank and Lenders, and to all other costs and expenses owing to Agent;

 

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(ii)           second,
to all amounts owing to Agent on Swingline Loans;

 

(iii)          third,
to Issuing Bank in respect of amounts owing by Borrowers for (x) any unreimbursed drawings made under Letters of Credit and (y) fees,
costs, expenses and indemnities owing to Issuing Bank in respect of Letters of Credit;

 

(iv)          fourth,
to all Obligations constituting fees owing or related to the Revolver Loans;

 

(v)           fifth,
to all Obligations constituting interest in respect of the Revolver Loans;

 

(vi)          sixth,
to Cash Collateralization of LC Obligations;

 

(vii)         seventh,
to all Revolver Loans, and to Secured Bank Product Obligations arising under Hedge Agreements (including Cash Collateralization thereof)
up to the amount of Reserves existing therefor;

 

(viii)        eighth,
to all Obligations constituting fees owing or related to the FILO Loans;

 

(ix)           ninth,
to all Obligations constituting interest in respect of the FILO Loans;

 

(x)            tenth,
to all FILO Loans,

 

(xi)           eleventh,
to all Obligations constituting fees owing or related to the Term Loans;

 

(xii)          twelfth,
to all Obligations constituting interest in respect of the Term Loans;

 

(xiii)         thirteenth,
to the Term Loans;

 

(xiv)        fourteenth,
to Secured Bank Product Obligations exceeding the amount of Reserves existing therefor; and

 

(xv)         last,
to all remaining Obligations.

 

(b)            To
the extent such monies constitute Other Collateral or proceeds of Other Collateral, such monies shall be applied as follows:

 

(i)            first,
to all Extraordinary Expenses owing to Agent, Issuing Bank and Lenders, and to all other costs and expenses owing to Agent;

 

(ii)           second,
to all Obligations constituting fees owing or related to the Term Loans;

 

(iii)          third,
to all Obligations constituting interest in respect of the Term Loans;

 

(iv)          fourth,
to the Term Loans;

 

(v)           fifth,
to all amounts owing to Agent on Swingline Loans;

 

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(vi)          sixth,
to Issuing Bank in respect of amounts owing by Borrowers for (x) any unreimbursed drawings made under Letters of Credit and (y) fees,
costs, expenses and indemnities owing to Issuing Bank in respect of Letters of Credit;

 

(vii)         seventh,
to all Obligations constituting fees owing or related to the Revolver Loans;

 

(viii)        eighth,
to all Obligations constituting interest in respect of the Revolver Loans;

 

(ix)           ninth,
to Cash Collateralization of LC Obligations;

 

(x)            tenth,
to all Revolver Loans, and to Secured Bank Product Obligations arising under Hedge Agreements (including Cash Collateralization thereof)
up to the amount of Reserves existing therefor;

 

(xi)           eleventh,
to all Obligations constituting fees owing or related to the FILO Loans;

 

(xii)          twelfth,
to all Obligations constituting interest in respect of the FILO Loans;

 

(xiii)         thirteenth,
to all FILO Loans,

 

(xiv)        fourteenth,
to Secured Bank Product Obligations exceeding the amount of Reserves therefor; and

 

(xv)          last,
to all remaining Obligations.

 

(c)            Subject
to the priorities set forth in clauses (a) and (b) above, amounts shall be applied to payment of each category of Obligations
only after Full Payment of amounts payable from time to time under all preceding categories. If amounts are insufficient to satisfy a
category, they shall be paid ratably among outstanding Obligations in the category. Monies and proceeds obtained from an Obligor shall
not be applied to its Excluded Swap Obligations, but appropriate adjustments shall be made with respect to amounts obtained from other
Obligors to preserve the allocations in any applicable category. Agent shall have no obligation to calculate the amount of any Secured
Bank Product Obligation and may request a reasonably detailed calculation thereof from a Secured Bank Product Provider. If the provider
fails to deliver the calculation within five days following request, Agent may assume the amount is zero. The allocations set forth in
this Section 5.6.2 are solely to determine the rights and priorities among Secured Parties, and may be changed by agreement
of the affected Secured Parties, without the consent of any Obligor. This Section is not for the benefit of or enforceable by any
Obligor, and each Borrower irrevocably waives the right to direct the application of any payments or Collateral proceeds subject to this
Section 5.6.2.

 

(d)            Notwithstanding
the order of application of proceeds of Collateral set forth in this Section 5.6.2, the Collateral shall secure all Obligations,
regardless of whether such Obligations are in respect of Revolver Loans, FILO Loans, Term Loans or otherwise.

 

5.6.3.        Erroneous
Application. Agent shall not be liable for any application of amounts made by it in good faith and, if any such application is subsequently
determined to have been made in error, the sole recourse of any Lender or other Person to which such amount should have been made shall
be to recover the amount from the Person that actually received it (and, if such amount was received by any Lender, such Lender hereby
agrees to return it).

 

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5.7.         Dominion
Accounts. During any Cash Dominion Period, the ledger balances in the Dominion Accounts as of the end of each Business Day shall
be applied to the Obligations at the beginning of the next Business Day; provided that, notwithstanding anything to contrary set
forth herein, at all times (regardless of whether a Cash Dominion Period is in effect), the ledger balances in all Dominion Accounts
maintained by the UK Guarantor shall be applied to the Obligations at the beginning of the next Business Day. If, as a result of such
application, a credit balance exists, the balance shall not accrue interest in favor of Borrowers and shall be made available to Borrowers
as long as no Default or Event of Default exists. If, at any time a Cash Dominion Period shall not be in effect, the aggregate balance
of all cash held in all Deposit Accounts of Obligors (including all Dominion Accounts and all Excluded Deposit Accounts (other than (x) Deposit
Accounts described in clause (a) of the definition of “Excluded Deposit Accounts” and (y) the CARES Account), shall
exceed $2,000,000 for more than five Business Days, the Obligors shall remit to Agent to be applied to the Obligations an amount sufficient
to cause such aggregate balance in all Deposit Accounts to be less than $2,000,000. For the avoidance of doubt, the Agent hereby agrees
that a notice regarding the commencement of a Cash Dominion Period shall not be delivered to the applicable depository bank under a Deposit
Account Control Agreement until such time as a Cash Dominion Period has occurred; provided that Deposit Accounts of the UK Guarantor
shall be subject to the dominion and control of Agent at all times as set forth in Section 8.2.4.

 

5.8.         Account
Stated. The Agent shall maintain in accordance with its usual and customary practices account(s) evidencing the Debt of
Borrowers hereunder. Any failure of Agent to record anything in a loan account, or any error in doing so, shall not limit or otherwise
affect the obligation of Borrowers to pay any amount owing hereunder. Entries made in a loan account shall constitute presumptive evidence
of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information
shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Agent
in writing within 30 days after receipt or inspection that specific information is subject to dispute.

 

5.9.         Taxes.

 

5.9.1.        Payments
Free of Taxes; Obligation to Withhold; Tax Payment.

 

(a)            All
payments of Obligations by Obligors shall be made without deduction or withholding for any Taxes, except as required by Applicable Law.
If Applicable Law (as determined by Agent in its discretion) requires the deduction or withholding of any Tax from any such payment by
Agent or an Obligor, then Agent or such Obligor shall be entitled to make such deduction or withholding. The Agent or such Obligor, as
applicable, may take into account any applicable information and documentation provided pursuant to Section 5.10.

 

(b)            If
Agent or any Obligor is required by the Code or the Income Tax Act (Canada) to withhold or deduct Taxes, including backup withholding
and withholding taxes, from any payment, then (i) Agent shall pay the full amount that it determines is to be withheld or deducted
to the relevant Governmental Authority pursuant to the Code or the Income Tax Act (Canada), and (ii) to the extent the withholding
or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that
the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made.

 

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(c)            If
Agent or any Obligor is required by any Applicable Law other than the Code or the Income Tax Act (Canada) to withhold or deduct Taxes
from any payment, then (i) Agent or such Obligor, to the extent required by Applicable Law, shall timely pay the full amount to
be withheld or deducted to the relevant Governmental Authority, and (ii) to the extent the withholding or deduction is made on account
of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount
equal to the sum it would have received had no such withholding or deduction been made.

 

5.9.2.        Payment
of Other Taxes. Without limiting the foregoing, Borrowers shall timely pay to the relevant Governmental Authority in accordance with
Applicable Law, or at Agent's option, timely reimburse Agent for payment of, any Other Taxes.

 

5.9.3.        Tax
Indemnification.

 

(a)            Each
Borrower shall indemnify and hold harmless, on a joint and several basis, each Recipient against any Indemnified Taxes (including those
imposed or asserted on or attributable to amounts payable under this Section) payable or paid by a Recipient or required to be withheld
or deducted from a payment to a Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto,
whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. Each Borrower
shall indemnify and hold harmless Agent against any amount that a Lender or Issuing Bank fails for any reason to pay indefeasibly to
Agent as required pursuant to this Section. Each Borrower shall make payment within 10 days after demand for any amount or liability
payable under this Section. A certificate as to the amount of such payment or liability delivered to Borrowers by a Lender or Issuing
Bank (with a copy to Agent), or by Agent on its own behalf or on behalf of any Recipient, shall be conclusive absent manifest error.

 

(b)            Each
Lender and Issuing Bank shall indemnify and hold harmless, on a several basis, (i) Agent against any Indemnified Taxes attributable
to such Lender or Issuing Bank (but only to the extent Borrowers have not already paid or reimbursed Agent therefor and without limiting
Borrowers' obligation to do so), (ii) Agent and Obligors, as applicable, against any Taxes attributable to such Lender's failure
to maintain a Participant register as required hereunder, and (iii) Agent and Obligors, as applicable, against any Excluded Taxes
attributable to such Lender or Issuing Bank, in each case, that are payable or paid by Agent or an Obligor in connection with any Obligations,
and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. Each Lender and Issuing Bank shall make payment within 10 days after demand
for any amount or liability payable under this Section. A certificate as to the amount of such payment or liability delivered to any
Lender or Issuing Bank by Agent shall be conclusive absent manifest error.

 

5.9.4.        Evidence
of Payments. If Agent or an Obligor pays any Taxes pursuant to this Section, then upon request, Agent shall deliver to Borrower Agent
or Borrower Agent shall deliver to Agent, respectively, a copy of a receipt issued by the appropriate Governmental Authority evidencing
the payment, a copy of any return required by Applicable Law to report the payment, or other evidence of payment reasonably satisfactory
to Agent or Borrower Agent, as applicable.

 

5.9.5.        Treatment
of Certain Refunds. Unless required by Applicable Law, at no time shall Agent have any obligation to file for or otherwise pursue
on behalf of a Lender or Issuing Bank, nor have any obligation to pay to any Lender or Issuing Bank, any refund of Taxes withheld or
deducted from funds paid for the account of a Lender or Issuing Bank. If a Recipient determines in its discretion that it has received
a refund of any Taxes as to which it has been indemnified by Borrowers or with respect to which a Borrower has paid additional amounts
pursuant to this Section, it shall pay Borrowers an amount equal to such refund (but only to the extent of indemnity payments made, or
additional amounts paid, by Borrowers with respect to the Taxes giving rise to such refund), net of all reasonable out-of-pocket expenses
(including Taxes) incurred by such Recipient, and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund), provided that Borrowers agree, upon request by the Recipient, to repay the amount paid over to Borrowers
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Recipient if the Recipient is required
to repay such refund to the Governmental Authority. Notwithstanding anything herein to the contrary, no Recipient shall be required to
pay any amount to Borrowers if such payment would place the Recipient in a less favorable net after-Tax position than it would have been
in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the
indemnification payments or additional amounts with respect to such Tax had never been paid. In no event shall Agent or any Recipient
be required to make its tax returns (or any other information relating to its taxes that it deems confidential) available to any Obligor
or other Person.

 

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    5.9.6.   Survival.
Each party's obligations under Sections 5.9 and 5.10 shall survive the resignation or replacement of Agent or any assignment
of rights by or replacement of a Lender or Issuing Bank, the termination of the Commitments, and the repayment, satisfaction, discharge
or Full Payment of any Obligations.

 

5.10.            Lender
Tax Information.

 

    5.10.1.  Status
of Lenders. Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments of Obligations
shall deliver to Borrowers and Agent properly completed and executed documentation reasonably requested by Borrowers or Agent as will
permit such payments to be made without or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by Borrowers
or Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by Borrowers or Agent to enable
them to determine whether such Lender is subject to backup withholding or information reporting requirements. Notwithstanding the foregoing,
such documentation (other than documentation described in Sections 5.10.2(a), (b) and (d)) shall not be required if
a Lender reasonably believes delivery of the documentation would subject it to any material unreimbursed cost or expense or would materially
prejudice its legal or commercial position.

 

    5.10.2.  Documentation.
Without limiting the foregoing, if any Borrower is a U.S. Person,

 

    (a)        Any
Lender that is a U.S. Person shall deliver to Borrowers and Agent on or prior to the date on which such Lender becomes a Lender hereunder
(and from time to time thereafter upon reasonable request of Borrowers or Agent), executed originals of IRS Form W-0, certifying
that such Lender is exempt from U.S. federal backup withholding Tax;

 

    (b)       Any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrowers and Agent (in such number of copies as shall
be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender hereunder (and from time to time
thereafter upon reasonable request of Borrowers or Agent), whichever of the following is applicable:

 

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

 

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

 

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

 

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

 

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

 

    (d)       if
payment of an Obligation to a Lender would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to
comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of
the Code), such Lender shall deliver to Borrowers and Agent at the time(s) prescribed by law and otherwise as reasonably requested
by Borrowers or Agent such documentation prescribed by Applicable Law (including Section 1471(b)(3)(C)(i) of the Code) and
such additional documentation reasonably requested by Borrowers or Agent as may be necessary for them to comply with their obligations
under FATCA and to determine that such Lender has complied with its 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 hereof.

 

    5.10.3.  Redelivery
of Documentation. If any form or certification previously delivered by a Lender pursuant to this Section expires or becomes
obsolete or inaccurate in any respect, such Lender shall promptly update the form or certification or notify Borrowers and Agent in writing
of its inability to do so.

 

5.11.            Nature
and Extent of Each Borrower’s Liability.

 

    5.11.1.  Joint
and Several Liability. Each Borrower agrees that it is jointly and severally liable for, and absolutely and unconditionally guarantees
to Agent and Lenders the prompt payment and performance of, all Obligations, except its Excluded Swap Obligations. Each Borrower agrees
that its guaranty obligations hereunder constitute a continuing guaranty of payment and not of collection, that such obligations shall
not be discharged until Full Payment of the Obligations, and that such obligations are absolute and unconditional, irrespective of (a) the
genuineness, validity, regularity, enforceability, subordination or any future modification of, or change in, any Obligations or Loan
Document, or any other document, instrument or agreement to which any Obligor is or may become a party or be bound; (b) the absence
of any action to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of
any kind by Agent or any Lender with respect thereto; (c) the existence, value or condition of, or failure to perfect a Lien or
to preserve rights against, any security or guaranty for the Obligations or any action, or the absence of any action, by Agent or any
Lender in respect thereof (including the release of any security or guaranty); (d) the insolvency of any Obligor; (e) any election
by Agent or any Lender in an Insolvency Proceeding for the application of Section 1111(b)(2) of the Bankruptcy Code; (f) any
borrowing or grant of a Lien by any other Obligor, as debtor-in-possession under Section 364 of the Bankruptcy Code or any other
Insolvency Law or otherwise; (g) the disallowance of any claims of Agent or any Lender against any Obligor for the repayment of
any Obligations under Section 502 of the Bankruptcy Code or any other Insolvency Law or otherwise; or (h) any other action
or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except Full Payment
of all Obligations.

 

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    5.11.2.  Waivers.

 

    (a)        Each
Obligor expressly waives all rights that it may have now or in the future under any statute, at common law, in equity or otherwise, to
compel Agent or Lenders to marshal assets or to proceed against any Obligor, other Person or security for the payment or performance
of any Obligations before, or as a condition to, proceeding against such Obligor. Each Obligor waives all defenses available to a surety,
guarantor or accommodation co-obligor other than Full Payment of all Obligations and waives, to the maximum extent permitted by law,
any right to revoke any guaranty of any Obligations as long as it is an Obligor. It is agreed among each Obligor, Agent and Lenders that
the provisions of this Section 5.11 are of the essence of the transaction contemplated by the Loan Documents and that, but
for such provisions, Agent and Lenders would decline to make Loans and issue Letters of Credit. Each Obligor acknowledges that its guaranty
pursuant to this Section is necessary to the conduct and promotion of its business, and can be expected to benefit such business.

 

    (b)        Agent
and Lenders may, in their discretion, pursue such rights and remedies as they deem appropriate, including realization upon Collateral
or any Real Estate by judicial foreclosure or nonjudicial sale or enforcement, without affecting any rights and remedies under this Section 5.11.
If, in taking any action in connection with the exercise of any rights or remedies, Agent or any Lender shall forfeit any other rights
or remedies, including the right to enter a deficiency judgment against any Borrower or other Person, whether because of any Applicable
Laws pertaining to “election of remedies” or otherwise, each Borrower consents to such action and waives any claim based
upon it, even if the action may result in loss of any rights of subrogation that any Borrower might otherwise have had. Any election
of remedies that results in denial or impairment of the right of Agent or any Lender to seek a deficiency judgment against any Borrower
shall not impair any other Borrower’s obligation to pay the full amount of the Obligations. Each Borrower waives all rights and
defenses arising out of an election of remedies, such as nonjudicial foreclosure with respect to any security for the Obligations, even
though that election of remedies destroys such Borrower’s rights of subrogation against any other Person. Agent may bid all or
a portion of the Obligations at any foreclosure, trustee or other sale, including any private sale, and the amount of such bid need not
be paid by Agent but shall be credited against the Obligations. The amount of the successful bid at any such sale, whether Agent or any
other Person is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral, and the difference
between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations
guaranteed under this Section 5.11, notwithstanding that any present or future law or court decision may have the effect of reducing
the amount of any deficiency claim to which Agent or any Lender might otherwise be entitled but for such bidding at any such sale.

 

    5.11.3.  Extent
of Liability; Contribution.

 

    (a)        Notwithstanding
anything herein to the contrary, each Borrower’s liability under this Section 5.11 shall be limited to the greater of (i) all
amounts for which such Borrower is primarily liable, as described below, and (ii) such Borrower’s Allocable Amount.

 

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    (b)        If
any Borrower makes a payment under this Section 5.11 of any Obligations (other than amounts for which such Borrower is primarily
liable) (a “Guarantor Payment”) that, taking into account all other Guarantor Payments previously or concurrently made by
any other Borrower, exceeds the amount that such Borrower would otherwise have paid if each Borrower had paid the aggregate Obligations
satisfied by such Guarantor Payments in the same proportion that such Borrower’s Allocable Amount bore to the total Allocable Amounts
of all Borrowers, then such Borrower shall be entitled to receive contribution and indemnification payments from, and to be reimbursed
by, each other Borrower for the amount of such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior
to such Guarantor Payment. The “Allocable Amount” for any Borrower shall be the maximum amount that could then be recovered
from such Borrower under this Section 5.11 without rendering such payment voidable under Section 548 of the Bankruptcy Code
or under any applicable state fraudulent transfer or conveyance act, or similar statute or common law.

 

    (c)        Nothing
contained in this Section 5.11 shall limit the liability of any Borrower to pay Loans made directly or indirectly to that Borrower
(including Loans advanced to any other Borrower and then re-loaned or otherwise transferred to, or for the benefit of, such Borrower),
LC Obligations relating to Letters of Credit issued to support its business, Secured Bank Product Obligations incurred to supports its
business, and all accrued interest, fees, expenses and other related Obligations with respect thereto, for which such Borrower shall
be primarily liable for all purposes hereunder. Agent and Lenders shall have the right, at any time in their discretion, to condition
Loans and Letters of Credit upon a separate calculation of borrowing availability for each Borrower and to restrict the disbursement
and use of such Loans and Letters of Credit to such Borrower.

 

    (d)        Each
Obligor that is a Qualified ECP when its guaranty of or grant of Lien as security for a Swap Obligation becomes effective hereby jointly
and severally, absolutely, unconditionally and irrevocably undertakes to provide funds or other support to each Specified Obligor with
respect to such Swap Obligation as may be needed by such Specified Obligor from time to time to honor all of its obligations under the
Loan Documents in respect of such Swap Obligation (but, in each case, only up to the maximum amount of such liability that can be hereby
incurred without rendering such Qualified ECP's obligations and undertakings under this Section 5.11 voidable under any applicable
fraudulent transfer or conveyance act). The obligations and undertakings of each Qualified ECP under this Section shall remain in
full force and effect until Full Payment of all Obligations. Each Obligor intends this Section to constitute, and this Section shall
be deemed to constitute, a guarantee of the obligations of, and a "keepwell, support or other agreement" for the benefit of,
each Obligor for all purposes of the Commodity Exchange Act.

 

    5.11.4.  Joint
Enterprise. Each Borrower has requested that Agent and Lenders make this credit facility available to Borrowers on a combined basis,
in order to finance Borrowers’ business most efficiently and economically. Borrowers’ business is a mutual and collective
enterprise, and the successful operation of each Borrower is dependent upon the successful performance of the integrated group. Borrowers
believe that consolidation of their credit facility will enhance the borrowing power of each Borrower and ease administration of the
facility, all to their mutual advantage. Borrowers acknowledge that Agent’s and Lenders’ willingness to extend credit and
to administer the Collateral on a combined basis hereunder is done solely as an accommodation to Borrowers and at Borrowers’ request.

 

    5.11.5.  Subordination.
Each Obligor hereby subordinates any claims, including any rights at law or in equity to payment, subrogation, reimbursement, exoneration,
contribution, indemnification or set off, that it may have at any time against any other Obligor, howsoever arising, to the Full Payment
of all Obligations.

 

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Section 6.             CONDITIONS
PRECEDENT

 

6.1.              Conditions
Precedent to Initial Loans. In addition to the conditions set forth in Section 6.2, Lenders shall not be required
to fund any requested Loan, issue any Letter of Credit, or otherwise extend credit to Borrowers hereunder, until the date (“Restatement
Date”) that each of the following conditions has been satisfied:

 

    (a)       Each
Loan Document shall have been duly executed and delivered to Agent by each of the signatories thereto, and each Obligor shall be in compliance
with all terms thereof.

 

    (b)        Agent
shall have received acknowledgments of all filings, registrations or recordations necessary to perfect its Liens in the Collateral, as
well as UCC, PPSA and Lien searches and other evidence satisfactory to Agent that such Liens are the only Liens upon the Collateral,
except Permitted Liens.

 

    (c)        Agent
shall have received certificates, in form and substance satisfactory to it, from a knowledgeable Senior Officer of each Borrower certifying
that, after giving effect to the initial Loans and transactions hereunder, (i) the Company and its Subsidiaries, taken as a whole,
are Solvent; (ii) no Default or Event of Default exists; (iii) the representations and warranties set forth in Section 9
are true and correct; and (iv) such Borrower has complied with all agreements and conditions to be satisfied by it under the
Loan Documents.

 

    (d)        Agent
shall have received a certificate of a duly authorized officer of each Obligor, certifying (i) that attached copies of such Obligor’s
Organic Documents are true and complete, and in full force and effect, without amendment except as shown; (ii) that an attached
copy of resolutions (in the case of any UK Guarantor, of both its board of directors and its members) authorizing execution and delivery
of the Loan Documents is true and complete, and that such resolutions are in full force and effect, were duly adopted, have not been
amended, modified or revoked, and constitute all resolutions adopted with respect to this credit facility; (iii) to the title, name
and signature of each Person authorized to sign the Loan Documents. Agent may conclusively rely on this certificate until it is otherwise
notified by the applicable Obligor in writing; (iv) with respect to any UK Guarantor, (A) that the Company and each of its
Subsidiaries has complied within the relevant timeframe with any notice it has received pursuant to Part 21A of the Companies Act
2006 from that UK Guarantor; and no “warning notice” or “restrictions notice” (in each case as defined in Schedule
1B of the Companies Act 2006) has been issued in respect of shares in that UK Guarantor and (B) that the attached copy of its “PSC
register” (within the meaning of section 790C(10) of the Companies Act 2006) is true and complete, and in full force and effect,
without amendment except as shown, and (v) with respect to any UK Guarantor, the solvency of such UK Guarantor and the ability of
such UK Guarantor to pay its debts as they fall due.

 

    (e)         Agent
shall have received a written opinion of (i) Greenberg Traurig LLP, US counsel to the Obligors, (ii) Stewart McKelvey, special
New Brunswick counsel to the Canadian Guarantor, (iii) Stikeman Elliott LLP, special Ontario counsel to the Canadian Guarantor,
and (iv) Norton Rose Fulbright LLP, special UK counsel to Agent, as well as any local counsel to Borrowers or Agent, in form and
substance satisfactory to Agent.

 

    (f)         Agent
shall have received good standing certificates (or their equivalents) for each Obligor (other than the UK Guarantor), issued by the Secretary
of State or other appropriate official of such Obligor’s jurisdiction of organization and each jurisdiction where such Obligor’s
conduct of business or ownership of Property necessitates qualification.

 

    (g)        (If
available in the relevant jurisdiction) Agent shall have received copies of policies or certificates of insurance for the insurance policies
carried by Obligors, together with loss payable endorsements naming Agent as lenders loss payee and as additional insured (in the case
of Canadian insurance policies, first mortgagee (with respect to the ABL Priority Collateral), and in the case of UK Insurance policies,
first loss payee), all in compliance with the Loan Documents.

 

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    (h)        Agent
shall have completed its business, financial and legal due diligence of Obligors. No material adverse change, in the good faith opinion
of Agent, in the business, assets, Properties, liabilities, operations, condition (financial or otherwise) of the Borrowers and the Guarantors,
taken as a whole, financial condition of any Obligor or in the quality, quantity or value of any Collateral has occurred since December 28,
2019.

 

    (i)         Borrowers
shall have paid all fees and expenses to be paid to Agent and Lenders on the Restatement Date.

 

    (j)         Agent
shall have received a Borrowing Base Certificate prepared as of October 3, 2020. Upon giving effect to the initial funding of Loans
and issuance of Letters of Credit, and the payment by Borrowers of all fees and expenses incurred in connection herewith as well as any
payables stretched beyond their customary payment practices, Availability shall be at least $7,000,000.

 

    (k)        Agent
shall have received reasonably satisfactory evidence that all principal, interest, and other amounts owing in respect of the “Term
Debt” (as defined in the Existing Credit Agreement) and all other indebtedness for borrowed money of Obligors (other than indebtedness
listed on Schedule 10.2.1 hereto) will be repaid in full on the Restatement Date with the proceeds of the initial Loans hereunder
on the Restatement Date and any and all Liens securing such indebtedness will be terminated and released on the Restatement Date.

 

    (l)        With
respect to each leased property or warehouse of each Obligor, Agent shall have either (i) received a Lien Waiver with respect to
such leased property or warehouse or (ii) established a Rent and Charges Reserve with respect to such leased property or warehouse.

 

    (m)       Agent
shall have received (i) audited financial statements of the Company and its Subsidiaries for the fiscal year ended December 28,
2019, (ii) the internally prepared monthly divisional financial statements of the Company and its Subsidiaries for the months ended
January 25, 2020 through August 22, 2020, (iii) a pro forma balance sheet of the Company and its Subsidiaries dated as
of the Restatement Date after giving pro forma effect to the transactions contemplated by this Agreement, the repayment in full of existing
Debt and the funding of the initial Loans on the Restatement Date and (iv) projections of the consolidated balance sheets, results
of operations, cash flow and Availability for the 2020 Fiscal Year on a Fiscal Month basis and for each other Fiscal Year ending prior
to the Revolver Termination Date on a Fiscal Year basis.

 

    (n)        No
action, suit, investigation, litigation or proceeding shall be threatened or pending in any court or before any arbitrator or governmental
instrumentality that in Agent’s judgment could reasonably be expected to have a Material Adverse Effect.

 

    (o)        Agent
shall have received satisfactory evidence that the Obligors have received all governmental and third party consents and approvals as
may be appropriate in connection with the Loans and the transactions contemplated by this Agreement.

 

    (p)        Agent
shall have received the Initial Brand Appraisal which shall indicate that the Brand NOLV, as of the Restatement Date, is equal to or
greater than $15,000,000.

 

    (q)       KYC
Information.

 

(i)            Upon
the reasonable request of any Lender made at least ten (10) days prior to the Restatement Date, Borrowers shall have provided to
such Lender, and such Lender shall be reasonably satisfied with, the documentation and other information so requested in connection with
applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the
PATRIOT Act and the Canadian Anti-Money Laundering & Anti-Terrorism Legislation, in each case at least five (5) days prior
to the Restatement Date.

 

    -70-

     

    

 

(ii)            At
least five (5) days prior to the Restatement Date, any Borrower that qualifies as a “legal entity customer” under the
Beneficial Ownership Regulation shall deliver, to each Lender that so requests, a Beneficial Ownership Certification in relation to such
Borrower.

 

6.2.              Conditions
Precedent to All Credit Extensions. Agent, Issuing Bank and Lenders shall not be required to fund any Loans, arrange for
issuance of any Letters of Credit or grant any other accommodation to or for the benefit of Borrowers, unless the following conditions
are satisfied:

 

    (a)        No
Default or Event of Default shall exist at the time of, or result from, such funding, issuance or grant;

 

    (b)        The
representations and warranties of each Obligor in the Loan Documents shall be true and correct in all material respects (without duplication
or any materiality provisions therein) on the date of, and upon giving effect to, such funding, issuance or grant (except for representations
and warranties that expressly relate to an earlier date);

 

    (c)        All
conditions precedent in any other Loan Document shall be satisfied;

 

    (d)        No
event shall have occurred or circumstance exist that has or could reasonably be expected to have a Material Adverse Effect; and

 

    (e)        With
respect to issuance of a Letter of Credit, the LC Conditions shall be satisfied.

 

Each request (or deemed request) by Borrowers
for funding of a Loan, issuance of a Letter of Credit or grant of an accommodation shall constitute a representation by Borrowers that
the foregoing conditions are satisfied on the date of such request and on the date of such funding, issuance or grant.

 

Section 7.             COLLATERAL

 

7.1.              Grant
of Security Interest. To secure the prompt payment and performance of all Obligations, each Obligor (other than any UK Guarantor)
hereby grants to Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all Property of such Obligor,
including all of the following Property, whether now owned or hereafter acquired, and wherever located:

 

    (a)        all
Accounts;

 

    (b)        all
Chattel Paper, including all Tangible Chattel Paper and all Electronic Chattel Paper;

 

    (c)        all
Commercial Tort Claims, including those shown on Schedule 9.1.16;

 

    (d)        all
Deposit Accounts, Securities Accounts and Commodities Accounts (and all money, cash and Cash Equivalents, checks, other negotiable instruments,
funds, evidences of payment, Commodities Contracts, Security Entitlements, Securities and other assets (including Financial Assets) contained
in, or credited to, such Deposit Accounts, Securities Accounts and Commodities Accounts);

 

    (e)        all
Documents (including, if applicable, electronic documents);

 

    -71-

     

    

 

    (f)         all
General Intangibles and Intangibles, including Intellectual Property, Payment Intangibles, intercompany Debt and customer lists;

 

    (g)        all
Goods, including Inventory, Equipment and Fixtures;

 

    (h)        all
Instruments, including Promissory Notes;

 

    (i)         all
Investment Property (including all Securities and Equity Interests);

 

    (j)         all
Letters of Credit (which, for purposes of this clause (j) only, shall have the meaning given to such term in the UCC) and Letter-of-Credit
Rights;

 

    (k)        all
Supporting Obligations;

 

    (l)         all
monies, cash and Cash Equivalents, whether or not in the possession or under the control of Agent, a Lender, or a bailee or Affiliate
of Agent or a Lender, including any Cash Collateral;

 

    (m)       all
books and records (including databases, customer lists, files, correspondence, tapes, and other records, whether tangible or electronic,
computer programs, print-outs and computer records) pertaining to the foregoing clauses (a) through (l) above;
and

 

    (n)        to
the extent not covered by clauses (a) through (m) above, (i) all other Property of such Obligor, whether
tangible or intangible and (ii) all Proceeds, Supporting Obligations and products of each of the foregoing and all accessions to,
substitutions and replacements for, and rents, profits and products of, each of the foregoing, any and all insurance claims, proceeds
of any insurance, indemnity, warranty or guaranty payable to such Obligor from time to time with respect to any of the foregoing and
any other contract rights or rights to the payment of money or tort claims.

 

In no event shall the grant of the security interest
in this Agreement or in any other Loan Document attach to, or the term “Collateral” be deemed to include, (a) any of
the outstanding Equity Interests in (x) an Immaterial Foreign Subsidiary or (y) a Foreign Subsidiary (i) in excess of
65% of the voting power of all classes of equity interests of such Foreign Subsidiary entitled to vote in the election of directors or
other similar body of such Foreign Subsidiary or (ii) to the extent that the pledge thereof is prohibited by the laws of the jurisdiction
of such foreign subsidiary’s organization; (b) any equity interest in any Foreign Subsidiary that is not a first-tier subsidiary
of an Borrower; (c) any lease, license, contract, property rights or agreement to which Debtor is a party or any of such Debtor’s
rights or interests thereunder, if, and for so long as and to the extent that, the grant of the security interest would constitute or
result in (i) the abandonment, invalidation or unenforceability of any material right, title or interest of such Debtor therein
or (ii) a breach or termination pursuant to the terms of, or a default under, any such lease, license, contract, property rights
or agreement (other than to the extent that any such breach, termination or default would be rendered ineffective pursuant to Section 9-406,
9-407, 9-408 or 9-409 of the Uniform Commercial Code of the applicable jurisdiction (or any successor provision or provisions), any other
applicable law or principles of equity), provided, however, that the security interest (x) shall attach immediately
when the condition causing such abandonment, invalidation or unenforceability is remedied, (y) shall attach immediately to any severable
term of such lease, license, contract, property rights or agreement to the extent that such attachment does not result in any of the
consequences specified in (i) or (ii) above and (z) shall attach immediately to any such lease, license, contract, property
rights or agreement to which the account debtor or such Obligor’s counterparty has consented to such attachment; (d) any equity
interest acquired after the date hereof that is an equity interest in an entity other than a subsidiary of an Obligor, if the terms of
the organizational documents of the issuer of such equity interests do not permit the grant of the security interest in such equity interests
by the owner thereof or Obligor; (e) any application to register any trademark or service mark prior to the filing under applicable
law of a verified statement of use (or the equivalent) for such trademark or service mark to the extent the creation of a security interest
therein or the grant of a mortgage thereon would void or invalidate such trademark or service mark; (f) except as may be mutually
agreed by the Borrowers and Agent, any fee-owned Real Estate or leasehold interests in Real Estate (other than, for the avoidance of
doubt, Fixtures); and (g) “consumer goods” as defined in the PPSA (collectively, the “Excluded Property”);
provided, however, that any Collateral (or any portion thereof) that ceases to satisfy the criteria for Excluded Property
(whether as a result of an Obligor obtaining any necessary consent, any change in any rule of law, statute or regulation or otherwise)
shall no longer be Excluded Property and the security interest shall attach immediately to such Collateral (or portion thereof) at such
time. Anything to the contrary contained in this Agreement notwithstanding, the CARES Account (and cash proceeds of the CARES Debt held
in the CARES Account) shall constitute Excluded Property.

 

    -72-

     

    

 

7.2.              Lien
on Deposit Accounts; Cash Collateral.

 

    7.2.1.    Deposit
Accounts. To further secure the prompt payment and performance of all Obligations, each Obligor (other than a UK Guarantor) hereby
grants to Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such Obligor, including
any sums in any lockbox or Dominion Account. Anything to the contrary contained in this Agreement notwithstanding, the Agent shall not
have a Lien on the CARES Account (or any cash proceeds of the CARES Debt held in the CARES Account).

 

    7.2.2.    Cash
Collateral. Cash Collateral may be invested, at Agent’s discretion (and with the consent of Borrower Agent, as long as no Event
of Default exists), but Agent shall have no duty to do so, regardless of any agreement or course of dealing with any Obligor, and shall
have no responsibility for any investment or loss. Each Obligor (other than a UK Guarantor) hereby grants to Agent, as security for the
Obligations, a security interest in all Cash Collateral held from time to time and all proceeds thereof, whether held in a Cash Collateral
Account or otherwise. Agent may apply Cash Collateral to the payment of Obligations as they become due, in such order as Agent may elect.
Each Cash Collateral Account and all Cash Collateral shall be under the sole dominion and control of Agent, and no Obligor or other Person
shall have any right to any Cash Collateral, until Full Payment of all Obligations.

 

7.3.              [Reserved].

 

7.4.              Other
Collateral.

 

    7.4.1.    Commercial
Tort Claims. Obligors shall promptly notify Agent in writing if any Obligor has a Commercial Tort Claim (other than, as long as no
Default or Event of Default exists, a Commercial Tort Claim for less than $100,000), shall promptly amend Schedule 9.1.16 to include
such claim, and shall take such actions as Agent deems appropriate to subject such claim to a duly perfected, first priority Lien in
favor of Agent.

 

    7.4.2.    Certain
After-Acquired Collateral. Obligors shall promptly notify Agent in writing if, after the Restatement Date, any Obligor obtains any
interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment
Property or Letter-of-Credit Rights and, upon Agent’s request, shall promptly take such actions as Agent deems appropriate to effect
Agent’s duly perfected, first priority Lien (subject to Permitted Liens) upon such Collateral, including obtaining any appropriate
possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Agent’s request, Obligors
shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Agent.

 

7.5.              No
Assumption of Liability. The Lien on Collateral granted hereunder is given as security only and shall not subject Agent or any
Lender to, or in any way modify, any obligation or liability of Obligors relating to any Collateral. In no event shall the grant of any
Lien under any Loan Document secure an Excluded Swap Obligation of the granting Obligor.

 

    -73-

     

    

 

7.6.              Further
Assurances. All Liens granted to Agent under the Loan Documents are for the benefit of Secured Parties. Promptly upon reasonable
request, Obligors shall deliver such instruments and agreements, and shall take such actions, as Agent reasonably deems necessary and
appropriate under Applicable Law to evidence or perfect its Lien on any Collateral, or otherwise to give effect to the intent of this
Agreement. Each Obligor authorizes Agent to file any financing statement that describes the Collateral as “all assets” or
 “all personal property” of such Obligor, or words to similar effect, and ratifies any action taken by Agent before the Restatement
Date to effect or perfect its Lien on any Collateral.

 

Section 8.             COLLATERAL
ADMINISTRATION

 

8.1.              Borrowing
Base Certificates. Obligors shall deliver to Agent (and Agent shall promptly deliver same to Lenders) (i) by the fifteenth
(15th) day of each calendar month, and at such other times as Agent may request, a Borrowing Base Certificate setting forth
the amounts of Accounts, Inventory, Eligible Accounts, Eligible Inventory, the Accounts Formula Amount, the Inventory Formula Amount,
the status of Priority Payables, the Availability Reserve, the Revolver Borrowing Base, the FILO Borrowing Base, the Revolver Exposure,
the FILO Exposure and Availability as of the most recently ended Fiscal Month, and (ii) at any time Availability falls below the
Reporting Frequency Increase Trigger Amount, by Wednesday of each week, an updated Borrowing Base Certificate (which updated Borrowing
Base Certificate shall include updated calculations of the Revolver Borrowing Base, FILO Borrowing Base, Availability and the status
of Priority Payables as of the end of the most recently ended week based solely upon sales, collections and Loan activity since the last
day of the Fiscal Month for which a monthly Borrowing Base Certificate shall have been prepared). All calculations of Availability in
any Borrowing Base Certificate shall originally be made by Obligors and certified by a Senior Officer, provided that Agent may from time
to time review and, in its Permitted Discretion, adjust any such calculation (a) to reflect its estimate of declines in value of
any Collateral, due to collections received or otherwise; or (b) to the extent Agent believes that the calculation was not made
in accordance with this Agreement or does not accurately reflect the Availability Reserve.

 

8.2.              Administration
of Accounts.

 

    8.2.1.    Records
and Schedules of Accounts. Each Obligor shall keep accurate and complete records of its Accounts, including all payments and collections
thereon, and shall submit to Agent sales, collection, reconciliation and other reports in form satisfactory to Agent, on such periodic
basis as Agent may request. Each Obligor shall also provide to Agent, on or before the 15th day of each month, a detailed aged trial
balance of all Accounts as of the end of the most recent Fiscal Month, specifying each Account’s Account Debtor name and address,
amount, invoice date and due date, showing any discount, allowance, credit, authorized return or dispute, and including such proof of
delivery, copies of invoices and invoice registers, copies of related documents, repayment histories, status reports and other information
as Agent may reasonably request. If Accounts in an aggregate face amount of $250,000 or more cease to be Eligible Accounts, Obligors
shall notify Agent of such occurrence promptly (and in any event within one Business Day) after any Obligor has knowledge thereof.

 

    8.2.2.    Taxes.
If an Account of any Obligor includes a charge for any Taxes, Agent is authorized, in its discretion, to pay the amount thereof to the
proper taxing authority for the account of such Obligor and to charge Obligors therefor; provided, however, that neither
Agent nor Lenders shall be liable for any Taxes that may be due from Obligors or with respect to any Collateral.

 

    -74-

     

    

 

    8.2.3.    Account
Verification. Whether or not a Default or Event of Default exists, Agent shall have the right at any time, in the name of Agent,
any designee of Agent or any Obligor, to verify the validity, amount or any other matter relating to any Accounts of Obligors by mail,
telephone or otherwise. Obligors shall cooperate fully with Agent in an effort to facilitate and promptly conclude any such verification
process.

 

    8.2.4.    Maintenance
of Dominion Accounts. Obligors shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to Agent. On
or prior to the Restatement Date, Obligors shall have entered into agreements (in form and substance reasonably satisfactory to Agent)
with Bank of America, in its capacity as lockbox servicer and Dominion Account bank, establishing Agent’s Lien on and dominion
and control over all lockboxes and Dominion Accounts and which provide (i) in case of lockboxes and Dominion Accounts of the UK
Guarantor, that Agent have exclusive dominion and control at all times (regardless of whether a Cash Dominion Period is in effect), and
(ii) in the case of lockboxes and Dominion Accounts of any Obligor other than the UK Guarantor, that Agent may exercise dominion
and control at any time during a Cash Dominion Period and that during a Cash Dominion Period all remittances received in a lockbox be
immediately deposited to a Dominion Account. Agent and Lenders assume no responsibility to Obligors for any lockbox arrangement or Dominion
Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank.

 

    8.2.5.    Proceeds
of Collateral. Borrowers shall request in writing and otherwise take all necessary steps to ensure that at all times from and after
the Restatement Date, all payments on Accounts or otherwise relating to Collateral are made directly to a Dominion Account (or a lockbox
relating to a Dominion Account). If any Obligor or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall
hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account (or a lockbox which
is swept into a Dominion Account).

 

8.3.              Administration
of Inventory.

 

    8.3.1.    Records
and Reports of Inventory. Each Obligor shall keep accurate and complete records of its Inventory, including costs and daily withdrawals
and additions, and, prior to the 15th day after the end of each month, shall submit to Agent inventory and reconciliation reports for
the most recently ended Fiscal Month in form satisfactory to Agent. Each Obligor shall conduct a physical inventory at least once per
calendar year (and on a more frequent basis if requested by Agent when an Event of Default exists) and periodic cycle counts consistent
with historical practices, and shall provide to Agent a report based on each such inventory and count promptly upon completion thereof,
together with such supporting information as Agent may request. Agent may participate in and observe each physical count.

 

    8.3.2.    Returns
of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise,
unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default, Revolver Overadvance or FILO
Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in
any month exceeds $375,000; and (d) any payment received by an Obligor for a return is promptly remitted to Agent for application
to the Obligations.

 

    8.3.3.    Acquisition,
Sale and Maintenance. No Obligor shall acquire or accept any Inventory on consignment or approval, and shall take all steps to assure
that all Inventory is produced in accordance with Applicable Law, including the FLSA. No Obligor shall sell any Inventory on consignment
or approval or any other basis under which the customer may return or require an Obligor to repurchase such Inventory. Obligors shall
use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable standards of any insurance and
in conformity with all Applicable Law, and shall make current rent payments (within applicable grace periods provided for in leases)
at all locations where any Collateral is located.

 

    -75-

     

    

 

8.4.              Administration
of Equipment.

 

    8.4.1.    Records
and Schedules of Equipment. Each Obligor shall keep accurate and complete records of its Equipment, including kind, quality, quantity,
cost, acquisitions and dispositions thereof, and shall submit to Agent, on such periodic basis as Agent may request, a current schedule
thereof, in form satisfactory to Agent. Promptly upon request, Obligors shall deliver to Agent evidence of their ownership or interests
in any Equipment.

 

    8.4.2.    Dispositions
of Equipment. No Obligor shall sell, lease or otherwise dispose of any Equipment, without the prior written consent of Agent, other
than (a) a Permitted Asset Disposition; and (b) replacement of Equipment that is worn, damaged or obsolete with Equipment of
like function and value, if the replacement Equipment is acquired substantially contemporaneously with such disposition and is free of
Liens (other than Permitted Liens).

 

    8.4.3.    Condition
of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made
so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Obligor
shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed,
in accordance with manufacturer specifications. No Obligor shall permit any Equipment to become affixed to real Property unless any landlord
or mortgagee delivers a Lien Waiver.

 

8.5.              Administration
of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Obligors, including all Dominion Accounts.
Each Obligor shall take all actions necessary to establish Agent’s control over each such Deposit Account (other than Excluded
Deposit Accounts). Each Obligor shall be the sole account holder of each Deposit Account and shall not allow any Person (other than Agent)
to have control over a Deposit Account or any Property deposited therein. Each Obligor shall promptly notify Agent of any opening or
closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

 

8.6.              General
Provisions.

 

    8.6.1.    Location
of Collateral. All tangible items of Collateral, other than Inventory in transit, shall at all times be kept by Obligors at the business
locations set forth in Schedule 8.6.1, except that Obligors may (a) make sales or other dispositions of Collateral in accordance
with Section 10.2.6; and (b) move Collateral to another location in the United States or Canada, as applicable, upon
30 Business Days prior written notice to Agent.

 

    8.6.2.    Insurance
of Collateral; Condemnation Proceeds.

 

    (a)         Each
Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other
risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating of at least A_-,
unless otherwise approved by Agent) satisfactory to Agent. All proceeds under each policy shall be payable to Agent. From time to time
upon request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches.
Unless Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Agent as lenders loss payee;
(ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying
that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor
by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay
for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors therefor. Each Obligor
agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists,
Obligors may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default
exists, only Agent shall be authorized to settle, adjust and compromise such claims.

 

    -76-

     

    

 

    (b)        Any
proceeds of insurance (other than proceeds from workers’ compensation or D&O insurance) and any awards arising from condemnation
or expropriation of any Collateral shall be paid to Agent. Any such insurance proceeds or condemnation awards that relate to Inventory
shall be applied first, to payment of any Revolver Overadvance and any FILO Overadvance, second, to payment of the Revolver
Loans, third, to payment of the FILO Loans, fourth to payment of the Term Loans, and then, to the payment of any
other Obligations outstanding. Subject to clause (c) below, any insurance proceeds or condemnation or expropriation awards that
relate to Other Collateral shall be applied first, to payment of the Term Loans, second, to payment of any Revolver Overadvance
and any FILO Overadvance, third, to payment of the Revolver Loans, fourth, to payment of the FILO Loans, and then,
to the payment of any other Obligations outstanding.

 

    (c)         If
requested by Obligors in writing within 15 days after Agent’s receipt of any insurance proceeds or condemnation or expropriation
awards relating to any loss or destruction of Equipment or Real Estate, Obligors may use such proceeds or awards to repair or replace
such Equipment or Real Estate (and until so used, the proceeds shall be held by Agent as Cash Collateral) as long as (i) no Event
of Default exists; (ii) such repair or replacement is undertaken and concluded within 180 days, in accordance with plans reasonably
satisfactory to Agent; (iii) replacement buildings are constructed on the sites of the original casualties and are of comparable
size, quality and utility to the destroyed buildings; (iv) the repaired or replaced Property is free of Liens, other than Permitted
Liens that are not Purchase Money Liens; (v) Borrowers comply with disbursement procedures for such repair or replacement as Agent
may reasonably require; and (vi) the aggregate amount of such proceeds or awards from any single Casualty Event or condemnation
or expropriation does not exceed $250,000.

 

    8.6.3.    Protection
of Collateral. All expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral, all
Priority Payables and Taxes payable with respect to any Collateral (including any sale thereof), and all other payments required to be
made by Agent to any Person to realize upon any Collateral, shall be borne and paid by Obligors. Agent shall not be liable or responsible
in any way for the safekeeping of any Collateral, for any loss or damage thereto (except for reasonable care in its custody while Collateral
is in Agent’s actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman, carrier,
forwarding agency or other Person whatsoever, but the same shall be at Obligors’ sole risk.

 

    8.6.4.    Defense
of Title. Each Obligor shall defend its title to Collateral and Agent’s Liens therein against all Persons, claims and demands,
except Permitted Liens.

 

8.7.              Power
of Attorney. Each Obligor hereby irrevocably constitutes and appoints Agent (and all Persons designated by Agent) as such Obligor’s
true and lawful attorney (and agent-in-fact) for the purposes provided in this Section. Agent, or Agent’s designee, may, without
notice and in either its or an Obligor’s name, but at the cost and expense of Obligors:

 

     (a)       Endorse
an Obligor’s name on any Payment Item remitted to or deposited in any lockbox or Dominion Account; and

 

     (b)       During
an Event of Default, (i) notify any Account Debtors of the assignment of their Accounts, demand and enforce payment of Accounts
by legal proceedings or otherwise, and generally exercise any rights and remedies with respect to Accounts; (ii) settle, adjust,
modify, compromise, discharge or release any Accounts or other Collateral, or any legal proceedings brought to collect Accounts or Collateral;
(iii) sell or assign any Accounts and other Collateral upon such terms, for such amounts and at such times as Agent deems advisable;
(iv) collect, liquidate and receive balances in Deposit Accounts or investment accounts, and take control, in any manner, of proceeds
of Collateral; (v) prepare, file and sign an Obligor’s name to a proof of claim or other document in a bankruptcy of an Account
Debtor, or to any notice, assignment or satisfaction of Lien or similar document; (vi) receive, open and dispose of mail addressed
to an Obligor, and notify postal authorities to deliver any such mail to an address designated by Agent; (vii) endorse any Chattel
Paper, Document, Instrument, bill of lading, or other document or agreement relating to any Accounts, Inventory or other Collateral;
(viii) use an Obligor’s stationery and sign its name to verifications of Accounts and notices to Account Debtors; (ix) use
information contained in any data processing, electronic or information systems relating to Collateral; (x) make and adjust claims
under insurance policies; (xi) take any action as may be necessary or appropriate to obtain payment under any letter of credit,
banker’s acceptance or other instrument for which an Obligor is a beneficiary; and (xii) take all other actions as Agent deems
appropriate to fulfill any Borrower’s obligations under the Loan Documents.

 

    -77-

     

    

 

Section 9.             REPRESENTATIONS
AND WARRANTIES

 

9.1.              General
Representations and Warranties. To induce Agent and Lenders to enter into this Agreement and to make available the Commitments,
Loans and Letters of Credit, each Obligor represents and warrants that:

 

    9.1.1.   Organization
and Qualification. Each Obligor and Subsidiary (other than any Immaterial Foreign Subsidiary) is duly organized or incorporated,
validly existing and in good standing under the laws of the jurisdiction of its organization or formation. Each Obligor and Subsidiary
is duly qualified, authorized to do business and in good standing as a foreign corporation in each jurisdiction where failure to be so
qualified could reasonably be expected to have a Material Adverse Effect. No Obligor is a Covered Entity.

 

    9.1.2.   Power
and Authority. Each Obligor is duly authorized to execute, deliver and perform its obligations under the Loan Documents. The execution,
delivery and performance of the Loan Documents have been duly authorized by all necessary action, and do not (a) require any consent
or approval of any holders of Equity Interests of any Obligor, except those already obtained; (b) contravene the Organic Documents
of any Obligor; (c) violate or cause a default under any Applicable Law or Material Contract; or (d) result in or require the
imposition of any Lien (other than Permitted Liens) on any Obligor’s Property.

 

    9.1.3.       Enforceability.
Each Loan Document is a legal, valid and binding obligation of each Obligor party thereto, enforceable in accordance with its terms,
except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights
generally.

 

    9.1.4.       Capital
Structure. Schedule 9.1.4 shows (a) for each Obligor and Subsidiary, its name, jurisdiction of organization or formation
and any agreement binding on the holders of its Equity Interests with respect to such Equity Interests, and (b) for each Subsidiary
of the Company, its authorized and issued Equity Interests and the names of the holders of its Equity Interests. Except as disclosed
on Schedule 9.1.4, in the five years preceding the Restatement Date, no Obligor or Subsidiary has acquired any substantial assets
from any other Person nor been the surviving entity in a merger, amalgamation or combination. Each Obligor has good title to its Equity
Interests in its Subsidiaries, subject only to Permitted Liens, and all such Equity Interests are duly issued, fully paid and non-assessable.
Except for the Equity Interests issued under the Company’s 2006 Performance Equity Plan, the Company’s 2012 Incentive Compensation
Plan, and inducement grants to new employees approved by the Compensation Committee of the Company’s Board of Directors, there
are no outstanding purchase options, warrants, subscription rights, agreements to issue or sell, convertible interests, phantom rights
or powers of attorney relating to Equity Interests of any Obligor or Subsidiary.

 

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    9.1.5.   Title
to Properties; Priority of Liens. Each Obligor and Subsidiary has good and marketable title to (or valid leasehold interests in)
all of its Real Estate, and good title to all of its personal Property, including all Property reflected in any financial statements
delivered to Agent or Lenders, in each case free of Liens except Permitted Liens. Except as otherwise indicated on Schedule 9.1.5,
each Obligor and Subsidiary has paid and discharged all lawful claims that, if unpaid, could become a Lien on its Properties, other than
Permitted Liens. The provisions of the Security Documents, together with such filings and other actions required to be taken hereby or
by the applicable Security Documents are effective to create in favor of the Agent, for the benefit of the Secured Parties referred to
therein, a legal, valid and enforceable security interest in and first priority Lien (except for those Permitted Liens that have priority
in such Collateral by operation of law) on all right title and interest of the respective Obligors in the Collateral described therein,
subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law, except (a) as otherwise
contemplated hereby or under any other Loan Documents, and (b) except as to specific items of Collateral as to which Agent may determine,
in consultation with the Borrower Agent, not to perfect its security interest therein based on the value thereof relative to the costs
of such perfection.

 

    9.1.6.   Accounts.
Agent may rely, in determining which Accounts are Eligible Accounts, on all statements and representations made by Obligors with respect
thereto. Obligors warrant, with respect to each Account at the time it is shown as an Eligible Account in a Borrowing Base Certificate,
that:

 

    (a)       it
is genuine and in all respects what it purports to be, and is not evidenced by a judgment;

 

    (b)       it
arises out of a completed, bona fide sale and delivery of goods in the Ordinary Course of Business, and substantially in accordance
with any purchase order, contract or other document relating thereto;

 

    (c)       it
is for a sum certain, maturing as stated in the invoice covering such sale, a copy of which has been furnished or is available to Agent
on request;

 

    (d)       it
is not subject to any offset, Lien (other than Agent’s Lien), defense, dispute, counterclaim or other adverse condition except
as arising in the Ordinary Course of Business and disclosed to Agent and is not subject to any discount or deduction except discounts
and deductions arising in the Ordinary Course of Business consistent with past practices or otherwise disclosed in writing to Agent;
and it is absolutely owing by the Account Debtor, without contingency in any respect;

 

    (e)       no
purchase order, agreement, document or Applicable Law restricts assignment of the Account to Agent (regardless of whether, under the
UCC and/or PPSA, as applicable, the restriction is ineffective), and the applicable Obligor is the sole payee or remittance party shown
on the invoice;

 

    (f)        no
extension, compromise, settlement, modification, credit, deduction or return has been authorized with respect to the Account, except
discounts or allowances granted in the Ordinary Course of Business for prompt payment that are reflected on the face of the invoice related
thereto and in the reports submitted to Agent hereunder; and

 

    (g)       to
the best of Obligors’ knowledge, (i) there are no facts or circumstances that are reasonably likely to impair the enforceability
or collectibility of such Account; (ii) the Account Debtor had the capacity to contract when the Account arose, continues to meet
the applicable Obligor’s customary credit standards, is Solvent, is not contemplating or subject to an Insolvency Proceeding, and
has not failed, or suspended or ceased doing business; and (iii) there are no proceedings or actions threatened or pending against
any Account Debtor that could reasonably be expected to have a material adverse effect on the Account Debtor’s financial condition.

 

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    9.1.7.   Financial
Statements. The consolidated and consolidating balance sheets, and related statements of income, cash flow and shareholder’s
equity, of Company and Subsidiaries that have been and are hereafter delivered to Agent and Lenders, are prepared in accordance with
GAAP, or in the case of the Canadian Guarantor, GAAP as in effect in Canada, as and to the extent applicable (in either case, except
as otherwise noted therein and, in the case of unaudited financial statements, subject to the absence of footnotes and normal year-end
adjustments), and fairly present the financial positions and results of operations of Company and Subsidiaries at the dates and for the
periods indicated. All projections delivered from time to time to Agent and Lenders have been prepared in good faith, based on reasonable
assumptions in light of the circumstances at such time provided, that, with respect to projected financial information, it being understood
and agreed that (a) any financial or business projections furnished by the Borrowers are subject to significant uncertainties and
contingencies, which may be beyond the control of the Borrowers, (b) no assurance is given by the Borrowers that the results of
such projections will be realized and (c) the actual results may differ from the results of such projections and such differences
may be material. Except as otherwise disclosed by the Company in its filings with the Securities and Exchange Commission, or any similar
applicable Governmental Authority in any other applicable jurisdiction, since December 28, 2019, there has been no change in the
business, assets, Properties, liabilities, operations or financial condition of the Obligors, taken as a whole, that could reasonably
be expected to have a Material Adverse Effect. No financial statement delivered to Agent or Lenders at any time contains any untrue statement
of a material fact, nor fails to disclose any material fact necessary to make such statement not materially misleading. The Obligors,
taken as a whole, are Solvent.

 

    9.1.8.   Surety
Obligations. Except as disclosed on Schedule 9.1.8, no Obligor or Subsidiary is obligated as surety or indemnitor under any
bond or other Material Contract that assures payment or performance of any obligation of any Person, except as permitted hereunder.

 

    9.1.9.   Taxes.
Each Obligor and Subsidiary (other than any Immaterial Foreign Subsidiary) has filed all federal, state, provincial, territorial, and
other material tax returns and other reports that it is required by law to file, and has paid, or made provision for the payment of,
all material Taxes and Priority Payables upon it, its income and its Properties that are due and payable, except to the extent being
Properly Contested. The provision for Taxes on the books of each Obligor and Subsidiary is adequate for all years not closed by applicable
statutes, and for its current Fiscal Year.

 

    9.1.10.  Brokers.
Except as disclosed on Schedule 9.1.10, there are no brokerage commissions, finder’s fees or investment banking fees payable
in connection with any transactions contemplated by the Loan Documents.

 

    9.1.11.  Intellectual
Property. Each Obligor and Subsidiary owns or has the lawful right to use all Intellectual Property, licenses, permits and other
authorizations reasonably necessary for the conduct of its business as currently conducted, and does not infringe upon misuse, misappropriate
or violate any rights held by any other Person except for such infringements, misuses, misappropriations or violations that would not,
individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. Except as disclosed on Schedule 9.1.11,
there is no pending or, to any Obligor’s or Subsidiary’s knowledge, threatened Intellectual Property Claim with respect to
any Obligor, any Subsidiary or any of their Property (including any Intellectual Property) that, if adversely determined, could reasonably
be expected to have a Material Adverse Effect. Except as disclosed on Schedule 9.1.11, no Obligor or Subsidiary pays or owes any
Royalty or other compensation to any Person with respect to any Intellectual Property. All Intellectual Property owned, licensed by,
or otherwise subject to any interests of, any Obligor or Subsidiary is shown on Schedule 9.1.11.

 

    -80-

     

    

 

    9.1.12.   Governmental
Approvals. Each Obligor and Subsidiary has, is in compliance with, and is in good standing with respect to, all Governmental Approvals
necessary to conduct its business and to own, lease and operate its Properties, except where noncompliance could not reasonably be expected
to have a Material Adverse Effect. All necessary import, export or other licenses, permits or certificates for the import or handling
of any goods or other Collateral have been procured and are in effect, and Obligors and Subsidiaries have complied with all foreign and
domestic laws with respect to the shipment and importation of any goods or Collateral, except where noncompliance could not reasonably
be expected to have a Material Adverse Effect.

 

    9.1.13.  Compliance
with Laws.(a)  Each Obligor and Subsidiary has duly complied, and its Properties and business operations
are in compliance, in all material respects with all Applicable Law, except where noncompliance could not reasonably be expected to have
a Material Adverse Effect. There have been (i) no citations, notices of noncompliance or requests for information issued to any
Obligor by the CPSC within the immediately preceding three years other than those described on Schedule 9.1.13, and (ii) no
notices or orders of material noncompliance issued to any Obligor by any other Governmental Authority under any Applicable Law. To the
best knowledge of the Obligors, no Inventory has been produced by Obligors in violation of the FLSA or in violation of any CPSC Regulations.
The Obligors have current and effective certificates of compliance for each children's product and each children's toy that the Obligors
sell, manufacture or distribute. The Obligors conduct current testing of all children's products and children's toys that the Obligors
sell, manufacture or distribute in accordance with Applicable Law. Except as described on Schedule 9.1.13, there are no pending
or, to the knowledge of the Obligors, threatened (in writing), recalls, or regulatory actions or investigations by the CPSC with respect
to the Obligors or any of the products or toys that the Obligors sell, manufacture or distribute. To the best knowledge of the Obligors,
none of the products or toys that the Obligors sell, manufacture or distribute contains a defect that could create a substantial product
hazard or could create an unreasonable risk of serious injury or death. The Obligors have complied in a timely manner with all reporting
requirements under the CPSC Regulations. To the best knowledge of the Obligors, the Obligors have not materially misrepresented in any
report filed by the Obligors with the CPSC, the scope of the hazards posed by any toys or products that the Obligors sell, manufacture
or distribute or the numbers of incidents or injuries that have been caused by or that have been alleged to have been caused by such
toys and products.

 

    (b)       Without
limiting the foregoing, no Obligor or, to the knowledge of the Borrowers, any of their respective Affiliates (i) is in violation
of any Anti-Terrorism Law, (ii) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of
evading or avoiding, any of the prohibitions set forth in any Anti-Terrorism Law, or (iii) is a Blocked Person. No Obligor or, to
the knowledge of the Borrowers, any of their respective Affiliates (x) conducts any business or engages in making or receiving any
contribution of funds, goods or services to or for the benefit of any Blocked Person, or (y) deals in, or otherwise engages in any
transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive
order or other Anti- Terrorism Law.

 

    (c)       No
Obligor or, to the knowledge of the Borrowers, any of their respective Affiliates or any officer, director, or employee, or agent, representative,
sales intermediary of such Person, in each case, acting on behalf of any Obligor or any of its Restricted Subsidiaries in violation of
any applicable Anti-Corruption Law. None of the Obligors or any of their Affiliates has been convicted of violating any Anti-Corruption
Laws or subjected to any investigation by a Governmental Authority for violation of any applicable Anti-Corruption Laws. There is no
material suit, litigation, arbitration, claim, audit, action, proceeding or investigation pending or, to the knowledge of any executive
officer of the Borrowers, threatened (in writing) against or affecting the Obligors or any of their Affiliates related to any applicable
Anti-Corruption Law, before or by any Governmental Authority. None of the Obligors has conducted or initiated any internal investigation
or made a voluntary, directed, or involuntary disclosure to any Governmental Authority with respect to any alleged act or omission arising
under or relating to any noncompliance with any Anti-Corruption Law. In the three (3) years prior to the Closing Date, none of the
Obligors has received any written notice, request or citation for any actual or potential noncompliance with any of the foregoing.

 

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    9.1.14.  Compliance
with Environmental Laws. Except with respect to any matters that, either individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect and disclosed on Schedule 9.1.14, no Obligor’s or Subsidiary’s past
or present operations, Real Estate or other Properties are subject to any federal, state, provincial, municipal or local investigation
to determine whether any remedial action is needed to address any environmental pollution, hazardous material or environmental clean-up.
No Obligor or Subsidiary has received any Environmental Notice. No Obligor or Subsidiary has any contingent liability with respect to
any Environmental Release, environmental pollution or hazardous material on any Real Estate now or previously owned, leased or operated
by it, except where such liability could not reasonably be expected to result in a Material Adverse Effect.

 

    9.1.15.  Burdensome
Contracts. No Obligor or Subsidiary is party or subject to any Restrictive Agreement, except as shown on Schedule 9.1.15.
No such Restrictive Agreement prohibits the execution, delivery or performance of any Loan Document by an Obligor.

 

    9.1.16.  Litigation.
Except as shown on Schedule 9.1.16, there are no proceedings or investigations pending or, to any Obligor’s knowledge, threatened
in writing against any Obligor or Subsidiary, or any of their businesses, operations, Properties, prospects or conditions, that (a) relate
to any Loan Documents or transactions contemplated thereby; or (b) could reasonably be expected to have a Material Adverse Effect
if determined adversely to any Obligor or Subsidiary. Except as shown on such Schedule, no Obligor has a Commercial Tort Claim (other
than, as long as no Default or Event of Default exists, a Commercial Tort Claim for less than $100,000). No Obligor or Subsidiary is
in default with respect to any order, injunction or judgment of any Governmental Authority.

 

    9.1.17.  No
Defaults. No event or circumstance has occurred or exists that constitutes a Default or Event of Default. No Obligor or Subsidiary
is in default, and, to the knowledge of the Obligors and each of their Subsidiaries, no event or circumstance has occurred or exists
that with the passage of time or giving of notice would constitute a material default, under any Material Contract or in the payment
of any Borrowed Money in excess of $500,000. To the best knowledge of the Obligors, there is no basis upon which any party (other than
an Obligor or Subsidiary) could terminate a Material Contract prior to its scheduled termination date.

 

    9.1.18.  ERISA.
Except as disclosed on Schedule 9.1.18:

 

    (a)        Each
Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code, and other federal and state laws. Each
Plan that is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS
or an application for such a letter is currently being processed by the IRS with respect thereto and, to the knowledge of Borrowers,
nothing has occurred which would prevent, or cause the loss of, such qualification. Each Obligor and ERISA Affiliate has met all applicable
requirements under the Code, ERISA and the Pension Protection Act of 2006, and no application for a waiver of the minimum funding standards
or an extension of any amortization period has been made with respect to any Plan.

 

    (b)        There
are no pending or, to the knowledge of Borrowers, threatened claims, actions or lawsuits, or action by any Governmental Authority, with
respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or
violation of the fiduciary responsibility rules with respect to any Plan that has resulted in or could reasonably be expected to
have a Material Adverse Effect. No Borrower is or will be using "plan assets" (within the meaning of ERISA Section 3(42)
or otherwise) of one or more Benefit Plans with respect to its entrance into, participation in, administration of and performance of
the Loans, Letter of Credits, Commitments or Loan Documents.

 

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    (c)        (i) No
ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii) no
Obligor or ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension
Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) no Obligor or ERISA Affiliate has incurred,
or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of
ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with respect to a Multiemployer Plan; (v) no Obligor
or ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or 4212(c) of ERISA; and (vi) as
of the most recent valuation date for any Pension Plan or Multiemployer Plan, the funding target attainment percentage (as defined in
Section 430(d)(2) of the Code) is at least 60%, and no Obligor or ERISA Affiliate knows of any fact or circumstance that could
reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of such date. No Obligor
or ERISA Affiliate has incurred any liability to the PBGC except for the payment of premiums, and no premium payments are due and unpaid.
No Obligor or ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or 4212(c) of ERISA. No Pension
Plan has been terminated by its plan administrator or the PBGC, and no fact or circumstance exists that could reasonably be expected
to cause the PBGC to institute proceedings to terminate a Pension Plan.

 

    (d)       With
respect to any Foreign Plan, (i) all employer and employee contributions required by law or by the terms of the Foreign Plan have
been made, or, if applicable, accrued, in accordance with normal accounting practices; (ii) the fair market value of the assets
of each funded Foreign Plan, the liability of each insurer for any Foreign Plan funded through insurance, or the book reserve established
for any Foreign Plan, together with any accrued contributions, is sufficient to procure or provide for the accrued benefit obligations
with respect to all current and former participants in such Foreign Plan according to the actuarial assumptions and valuations most recently
used to account for such obligations in accordance with applicable generally accepted accounting principles; and (iii) it has been
registered as required and has been maintained in good standing with applicable regulatory authorities.

 

    (e)        (i) each
Obligor is in compliance with the requirements of the PBA and other Applicable Laws with respect to each Canadian Pension Plan, except
where the failure to so comply would not have a Material Adverse Effect, (ii) to the knowledge of the Obligors, no fact or situation
exists that may reasonably be expected to adversely affect the registered status of any Canadian Pension Plan which could reasonably
be expected to have a Material Adverse Effect, (iii) no Obligor maintains, sponsors or contributes to any Canadian Defined Benefit
Pension Plan other than those consented to pursuant to Section 10.2.18 hereof, (iv) no Termination Event has occurred in respect
of which a Canadian Priority Payables Reserve has not been taken,(v) no Lien has arisen in respect of Obligors or their property
in connection with any Canadian Pension Plan (save for contribution amounts not yet due) which could reasonably be expected to have a
Material Adverse Effect; and (vi) all required contributions of any Obligor to each Canadian Pension Plan have been made when due
under Applicable Laws (except for contributions, the outstanding status of which cannot be reasonably expected to have a Material Adverse
Effect).

 

    (f)         Neither
SI UK nor any of its Subsidiaries is or has at any time been (i) an employer (for the purposes of sections 38 to 51 of the Pensions
Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pensions Schemes Act 1993);
or (ii) “connected” with or an “associate” of (as those terms are used in sections 38 and 43 of the Pensions
Act 2004) such an employer.

 

    9.1.19.  Trade
Relations. Except as set forth on the Company’s filings with the Securities and Exchange Commission, there exists no actual
or threatened (in writing) termination, limitation or modification of any business relationship between any Obligor or Subsidiary and
any customer or supplier, or any group of customers or suppliers, who individually or in the aggregate are material to the business of
such Obligor or Subsidiary. There exists no condition or circumstance that could reasonably be expected to materially impair the ability
of any Obligor or Subsidiary to conduct its business at any time hereafter in substantially the same manner as conducted on the Restatement
Date.

 

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    9.1.20.  Labor
Relations. Except as described on Schedule 9.1.20, no Obligor or Subsidiary is party to or bound by any collective bargaining
agreement, management agreement or consulting agreement (other than design services consulting agreements and other consulting agreements
that have been disclosed to Agent). Except as would not, either individually or in the aggregate, reasonably be expected to result in
a Material Adverse Effect, there are no material grievances, disputes or controversies with any union or other organization of any Obligor’s
or Subsidiary’s employees, or, to any Obligor’s knowledge, any asserted or threatened strikes, work stoppages or demands
for collective bargaining.

 

    9.1.21.  Payable
Practices. No Obligor or Subsidiary has made any material change in its historical accounts payable practices from those in effect
on the Restatement Date.

 

    9.1.22.   Not
a Regulated Entity. No Obligor is (a) an “investment company” or a “person directly or indirectly controlled
by or acting on behalf of an investment company” within the meaning of the Investment Company Act of 1940; or (b) subject
to regulation under the Federal Power Act, the Interstate Commerce Act, any public utilities code or any other Applicable Law regarding
its authority to incur Debt.

 

    9.1.23.  Margin
Stock. No Obligor or Subsidiary is engaged, principally or as one of its important activities, in the business of extending credit
for the purpose of purchasing or carrying any Margin Stock. No Loan proceeds or Letters of Credit will be used by Obligors to purchase
or carry, or to reduce or refinance any Debt incurred to purchase or carry, any Margin Stock or for any related purpose governed by Regulations
T, U or X of the Board of Governors.

 

    9.1.24.  OFAC.
None of (i) Borrower, Subsidiary or any director, officer, or employee, or (ii) to the knowledge of the Borrower, any agent,
affiliate or representative thereof, is or is owned or controlled by any individual or entity that is currently the subject or target
of any Sanction or is located, organized or resident in a Designated Jurisdiction.

 

    9.1.25.  Beneficial
Ownership Certification. As of the Restatement Date, the information included in the Beneficial Ownership Certification, if applicable,
is true and correct in all respects.

 

    9.1.26.  Centre
of Main Interests and Establishments. For the purposes of regulation (EU) 2015/848 of 20 May 2015 on insolvency proceedings
(recast) (the “Regulation”), each of the UK Guarantors’ centre of main interest (as that term is used in Article 3(l) of
the Regulation) is situated in its jurisdiction of incorporation and none of them have an “establishment” (as that term is
used in Article 2(10) of the Regulation) in any other jurisdiction.

 

    9.1.27.  EEA
Financial Institutions. No Obligor is an EEA Financial Institution.

 

    9.1.28.  CARES
Debt. All applications, documents and other information submitted to any Governmental Authority with respect to the CARES Debt shall
be true and correct. No Lender or any of its Affiliates is deemed an “affiliate” of any Obligor or any of its Subsidiaries
for any purpose related to the CARES Debt, including the eligibility criteria with respect thereto. Each Obligor acknowledges and agrees
that (a) it has consulted its own legal and financial advisors with respect to all matters related to CARES Debt (including eligibility
criteria) and the CARES Act – Title I, (b) it is responsible for making its own independent judgment with respect to CARES
Debt and the process leading thereto, and (c) it has not relied on Agent, any Lender or any of their respective Affiliates with
respect to any of such matters.

 

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9.2.          Complete
Disclosure. No Loan Document contains any untrue statement of a material fact, nor fails to disclose any material fact necessary
to make the statements contained therein, in light of the circumstances in which they are made, not materially misleading. There is no
fact or circumstance that any Obligor has failed to disclose to Agent in writing that could reasonably be expected to have a Material
Adverse Effect.

 

Section 10.
      COVENANTS AND CONTINUING AGREEMENTS

 

10.1.        Affirmative
Covenants. As long as any Commitments or Obligations are outstanding, each Obligor shall, and shall cause each Subsidiary to:

 

10.1.1.      Inspections;
Appraisals.

 

(a)            Permit
Agent from time to time, subject (except when an Event of Default exists) to reasonable notice and normal business hours, to visit and
inspect the Properties of any Obligor or Subsidiary, inspect, audit and make extracts from any Obligor’s or Subsidiary’s
books and records, and discuss with its officers, employees, agents, advisors and independent accountants such Obligor’s or Subsidiary’s
business, financial condition, assets, prospects and results of operations. Lenders may participate in any such visit or inspection,
at their own expense. Neither Agent nor any Lender shall have any duty to any Obligor to make any inspection, nor to share any results
of any inspection, appraisal or report with any Obligor. Obligors acknowledge that all inspections, appraisals and reports are prepared
by Agent and Lenders for their purposes, and Obligors shall not be entitled to rely upon them. This Section 10.1.1(a) shall
not apply to Immaterial Foreign Subsidiaries unless an Event of Default has occurred and is continuing.

 

(b)            Reimburse
Agent for all reasonable charges, costs and expenses of Agent in connection with (i) examinations of any Obligor’s books and
records or any other financial or Collateral matters as Agent deems appropriate, once per Loan Year; and (ii) an appraisal of Inventory
and a Brand Appraisal, once per Loan Year; provided, however, that (i) during any Increased Field Exam/Appraisal Period, the Obligors
shall reimburse Agent for up to two appraisals of Inventory, two Brand Appraisals, and two field examinations per Loan Year, and (ii) if
an examination, Inventory appraisal or Brand Appraisal is initiated during an Event of Default, all charges, costs and expenses
therefor shall be reimbursed by Borrowers without regard to any such limits. Obligors agree to pay Agent’s then standard charges
for examination activities, including the standard charges of Agent’s internal examination and appraisal groups, as well as the
reasonable and documented charges of any third party used for such purposes. No calculation of the Revolver Borrowing Base or FILO Borrowing
Base shall include Collateral acquired in a Permitted Acquisition or otherwise outside the Ordinary Course of Business until completion
of applicable field examinations and Inventory appraisals reasonably satisfactory to Agent.

 

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10.1.2       Financial
and Other Information. Keep adequate records and books of account with respect to its business activities, in which proper entries
are made in accordance with GAAP reflecting all financial transactions; and furnish to Agent and Lenders:

 

(a)            as
soon as available, and in any event within 90 days after the close of each Fiscal Year, balance sheets as of the end of such Fiscal Year
and the related statements of income, cash flow and shareholders’ equity for such Fiscal Year, on consolidated and consolidating
bases for Obligors and Subsidiaries, which consolidated statements shall be audited and certified (without qualification except to the
extent any qualification results solely from a current maturity of any Indebtedness) by a firm of independent certified public accountants
of recognized standing selected by Borrowers and reasonably acceptable to Agent, it being agreed that RSM US, LLP is acceptable to Agent,
and shall set forth in comparative form corresponding figures for the preceding Fiscal Year and other information reasonably acceptable
to Agent;

 

(b)            as
soon as available, and in any event within 45 days after the end of each Fiscal Quarter ending thereafter, unaudited balance sheets as
of the end of such quarter and the related statements of income and cash flow for such Fiscal Quarter and for the portion of the Fiscal
Year then elapsed, on consolidated and, to the extent applicable, consolidating bases for Obligors and Subsidiaries, setting forth in
comparative form corresponding figures for the preceding Fiscal Year and certified by a Senior Officer of Obligors as prepared in accordance
with GAAP and fairly presenting in all material respects the financial position and results of operations for such Fiscal Quarter and
period, subject to normal year-end adjustments and the absence of footnotes;

 

(c)            as
soon as available, and in any event within 30 days after the end of each month, unaudited balance sheets as of the end of the most recent
Fiscal Month and the related statements of income and cash flow for such Fiscal Month and for the portion of the Fiscal Year then elapsed,
on consolidated and, to the extent applicable, consolidating bases for Obligors and Subsidiaries, setting forth in comparative form corresponding
figures for the preceding Fiscal Year and certified by the chief financial officer of Borrower Agent as prepared in accordance with GAAP
and fairly presenting the financial position and results of operations for such month and period, subject only to normal year-end audit
adjustments and the absence of footnotes;

 

(d)            concurrently
with delivery of financial statements under clauses (a), (b) and (c) above, or more frequently if requested by Agent while
a Default or Event of Default exists, a Compliance Certificate executed by the chief financial officer of Borrower Agent (for the avoidance
of doubt, regardless of whether a Financial Covenant Testing Period shall be in effect, Obligors shall be required to deliver a Compliance
Certificate concurrently with the delivery of all financial statements under clauses (a), (b) and (c) above, which Compliance
Certificate shall contain a detailed calculation of the Fixed Charge Coverage Ratio as of the Fiscal Month most recently ended, which
calculation shall be deemed to have been provided solely for informational purposes if a Financial Covenant Testing Period shall not
be in effect at such time);

 

(e)            concurrently
with delivery of financial statements under clause (a) above, copies of all management letters and other material reports submitted
to any Obligor(s) by their accountants in connection with such financial statements;

 

(f)          
   as soon as available, but in any event not later than thirty (30) days after the last day of each Fiscal Year,
projections of Borrowers’ consolidated balance sheets, results of operations, cash flow and Availability for such Fiscal Year,
on a Fiscal Month by Fiscal Month basis;

 

(g)            at
Agent’s request, a listing of each Obligor’s trade payables, specifying the trade creditor and balance due, and a detailed
trade payable aging, all in form reasonably satisfactory to Agent;

 

(h)            promptly
after the sending or filing thereof, copies of any proxy statements, financial statements or reports that any Borrower has made generally
available to its shareholders; copies of any regular, periodic and special reports or registration statements or prospectuses that any
Borrower files with the Securities and Exchange Commission or any other Governmental Authority, or any securities exchange; and copies
of any press releases or other statements made available by a Borrower to the public concerning material changes to or developments in
the business of such Borrower;

 

(i)         
   (i) promptly after the sending or filing thereof, copies of any annual report to be filed in connection with each
Plan and, on the request of the Agent, the most recently filed actuarial valuation report in respect of a Canadian Defined Benefit
Pension Plan;

 

(j)             as soon as available an in any event with 30 days after the end of each month, a written report containing an analysis by
management of the financial results of most recent Fiscal Month;

 

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(k)            as
soon as available, but in any event within thirty (30) days after the end of each Fiscal Year, a report summarizing the insurance coverage
(specifying type, amount and carrier) in effect for each Obligor and containing such additional information as the Agent, or any Lender
through the Agent, may reasonably specify; and

 

(l)        
     such other reports and information (financial or otherwise) as Agent may reasonably request from time to
time in connection with any Collateral or any Borrower’s, Subsidiary’s or other Obligor’s financial condition or
business.

 

10.1.3.      Notices. Notify Agent and Lenders in writing, promptly, and in any event within two Business Days, after an
Obligor’s obtaining knowledge thereof, of any of the following that affects an Obligor: (a) the threat in writing or
commencement of any proceeding or investigation, whether or not covered by insurance, if an adverse determination could have a
Material Adverse Effect; (b) any pending or threatened labor dispute, strike or walkout, or the expiration of any material
labor contract; (c) any material default under or termination of a Material Contract; (d) the existence of any Default or
Event of Default; (e) any judgment in an amount exceeding $1,000,000; (f) the assertion of any Intellectual Property
Claim, if an adverse resolution could have a Material Adverse Effect; (g) any violation or asserted violation (in writing) of
any Applicable Law (including ERISA, OSHA, FLSA or any Environmental Laws), if an adverse resolution could have a Material Adverse
Effect; (h) any Environmental Release which could reasonably be expected to have a Material Adverse Effect, by an Obligor or on
any Property owned, leased or occupied by an Obligor; or receipt of any Environmental Notice; (i) the occurrence of any ERISA
Event or Termination Event; (j) the discharge of or any withdrawal or resignation by Borrowers’ independent accountants;
(k) any opening of a new office or place of business, at least 30 days prior to such opening; (l) the threat (in writing)
or commencement of any regulatory action or investigation by the CPSC with respect to any Obligor or with respect to any product or
toy sold, manufactured or distributed by any Obligor; (m) the receipt by any Obligor of any Epidemiological Report, the posting
of any notice on SaferProducts.gov, or request for information issued to any Obligor by the CPSC, all with respect to any product or
toy sold, manufactured or distributed by any Obligor; (n) the commencement of any voluntary or involuntary recall of any
product or toy that the Obligors sell, manufacture or distribute; (o) [reserved]; (p) of any material change in accounting
policies or financial reporting practices by any Obligor(s); (q) the filing and/or the enforcement against the Obligors of any
Lien for unpaid Taxes or Priority Payables that in the aggregate for all such occurrences exceed $1,000,000; (r) any sale,
disposition, or abandonment of any Intellectual Property and/or Equipment, including any such sale, disposition, or abandonment that
constitutes a Permitted Asset Disposition hereunder; (s) any sale or transfer of Equity Interest that would constitute a Change
of Control under clause (a), (c), (d) or (e) of the definition of Change of Control not less than thirty (30) days prior
to the consummation of such sale or transfer, (t) any sale or transfer of a material portion of the assets of any Subsidiary
that would constitute a Change of Control under clause (f) of the definition of Change of Control not less than thirty (30)
days prior to the consummation of such sale or transfer, or (u) any loss, theft, damage or destruction of any Collateral in an
amount greater than or equal to: (i) $50,000 with respect to any single occurrence or (ii) $200,000 in the aggregate from
and after the Restatement Date.

 

Each notice pursuant to this Section 10.1.3
shall be accompanied by a statement of a Senior Officer of the Borrower Agent setting forth details of the occurrence referred to
therein and stating what action the Borrower Agent has taken and proposes to take with respect thereto. Each notice pursuant to this
Section 10.1.3 shall describe with particularity any and all provisions of this Agreement and any other Loan Document that
have been breached.

 

10.1.4.      Landlord
and Storage Agreements. Upon request, provide Agent with copies of all existing agreements, and promptly after execution thereof
provide Agent with copies of all future agreements, between an Obligor and any landlord, warehouseman, processor, shipper, bailee or
other Person that owns any premises at which any Collateral may be kept or that otherwise may possess or handle any Collateral.

 

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10.1.5.      Compliance
with Laws. Comply with all Applicable Laws, including ERISA, PBA, Environmental Laws, FLSA, OSHA, Anti-Terrorism Laws, CPSC Regulations
and laws regarding collection and payment of Taxes, and maintain all Governmental Approvals necessary to the ownership of its Properties
or conduct of its business, unless failure to comply (other than failure to comply with Anti-Terrorism Laws) or maintain could not reasonably
be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, if any Environmental Release, which
could reasonably be expected to have a Material Adverse Effect, occurs at or on any Properties of any Obligor or Subsidiary, it shall
act promptly and diligently to investigate and report to Agent and all appropriate Governmental Authorities the extent of, and to make
appropriate remedial action to eliminate, such Environmental Release, whether or not directed to do so by any Governmental Authority.
Maintain adequate testing and other procedures to ensure the safety of all products and toys that the Obligors sell, manufacture or distribute.

 

10.1.6.      Taxes.
Pay and discharge all Taxes prior to the date on which they become delinquent or penalties attach, unless such Taxes are being Properly
Contested.

 

10.1.7.      Insurance.
In addition to the insurance required hereunder with respect to Collateral, maintain insurance with insurers (with a Best Rating of at
least A-, unless otherwise approved by Agent) reasonably satisfactory to Agent, (a) with respect to the Properties and business
of Obligors and Subsidiaries (other than the Immaterial Foreign Subsidiaries) of such type (including product liability, workers’
compensation, larceny, embezzlement, or other criminal misappropriation insurance), in such amounts, and with such coverages and deductibles
as are customary for companies similarly situated; and (b) business interruption insurance in an amount not less than $20,000,0009,000,000,
with ‎deductibles
and subject to an insurance assignment reasonably satisfactory to Agent, ‎which
shall provide for the proceeds of business interruption insurance to be ‎payable
to Agent for application to the Obligations.

 

10.1.8.      Licenses.
Keep each License which constitutes a Material Contract affecting any Collateral (including the manufacture, distribution or disposition
of Inventory) or any other material Property of Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed
modification to any such License, or entry into any new License which constitutes a Material Contract, in each case at least 30 days
prior to its effective date; pay all Royalties when due; and notify Agent of any material default or breach asserted in writing by any
Person to have occurred under any License which constitutes a Material Contract.

 

10.1.9.      Future
Subsidiaries. Promptly (not later than 5 Business Days) notify Agent upon any Person becoming a Subsidiary and, if such Person is
not a Foreign Subsidiary (other than a Foreign Subsidiary that is no longer designated an Immaterial Foreign Subsidiary), cause it to
guaranty the Obligations in a manner satisfactory to Agent, and to execute and deliver such documents, instruments and agreements and
to take such other actions as Agent shall require to evidence and perfect a Lien in favor of Agent on all assets of such Person, including
delivery of such legal opinions, in form and substance reasonably satisfactory to Agent, as it shall deem appropriate.

 

10.1.10.    UK
Pension Schemes. Ensure that neither SI UK nor any of its Subsidiaries is or has been at any time an employer (for the purposes of
sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined
in the Pension Schemes Act 1993) or "connected" with or an "associate" of (as those terms are used in sections 38
or 43 of the Pensions Act 2004) such an employer.

 

10.1.11.    Ongoing
Obligation. Promptly following any request therefor, provide information and documentation reasonably requested by the Administrative
Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering
rules and regulations, including, without limitation, the PATRIOT Act and the Beneficial Ownership Regulation.

 

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10.1.12.    People
with Significant Control regime. The Company and its Subsidiaries shall (a) within the relevant timeframe, comply with any notice
it receives pursuant to Part 21A of the Companies Act 2005 from any company incorporated in the United Kingdom whose shares are
subject of a Lien in favor of the Agent, and (b) promptly (not later than 5 Business Days) provide the Agent with a copy of that
notice.

 

10.1.13.    Centre
of Main Interests. Each UK Guarantor shall maintain its centre of main interests in England and Wales for the purposes of the Regulation.

 

10.1.14.    [Reserved].

 

10.1.15.    [Reserved].

 

10.1.16.    CARES
Debt.

 

(a)            Obligors
shall provide to Agent (i) a copy of their application for CARES Debt promptly upon submission thereof and (ii) copies of the
definitive loan documentation for CARES Debt promptly following execution and delivery thereof by the parties, together with a reasonably
detailed written estimate of the amount of CARES Debt that Obligors reasonably anticipate will be subject to forgiveness pursuant to
the provisions of the CARES Act - Title I.

 

(b)            Obligors
shall timely (and, in any event, not later than December 31, 2020 (or such longer period as may be agreed by Agent) submit all applications
and required documentation necessary or desirable for the lender of the CARES Debt and/or the Small Business Administration to make a
determination regarding the amount of the CARES Debt that is eligible to be forgiven.

 

(c)            Obligors
shall provide to Agent copies of any amendments, modifications, waivers, supplements or consents executed and delivered with respect
to CARES Debt promptly (and in any event within three (3) Business Days) upon execution and delivery thereof, and copies of any
notices of default received by any Obligor with respect to the CARES Debt.

 

(d)            Obligors
shall, to the extent not included in the foregoing clause (b) or (c), promptly (and in any event within three (3) Business
Days) upon receipt or filing thereof, as applicable, provide to Agent copies of all material documents, applications and correspondence
with the applicable lender or any Governmental Authority relating to CARES Debt, including with respect to loan forgiveness.

 

(e)            Obligors
shall use the proceeds of the CARES Debt solely for CARES Act Permitted Purposes. Obligors agree to, and will cause each of their Subsidiaries
to (i) deposit all proceeds from CARES Debt into a segregated Deposit Account (the “CARES Account”) that is specially
and exclusively used to hold proceeds of CARES Debt, (ii) not commingle their funds that are not proceeds of CARES Debt with the
proceeds of CARES Debt and (iii) use funds from the CARES Account solely for CARES Act Permitted Purposes and before using any other
cash on hand to pay expenses that are CARES Act Permitted Purposes. Without limiting anything in the foregoing, Obligors shall cause
the proceeds of the CARES Debt to be deposited in a Deposit Account that is not subject to the cash dominion of Agent or any other secured
party, and shall ensure that the proceeds of the CARES Debt are not used to repay other Indebtedness.

 

(f)             On the CARES Forgiveness Date, Obligors shall deliver to Agent a certificate of an Authorized
Officer of Obligors certifying as to the amount of the CARES Debt that will be forgiven pursuant to the provisions of the CARES Act
- Title I, together with reasonably detailed description thereof, all in form satisfactory to Agent.

 

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(g)            Each
Obligor agrees that it will not make any claim that Agent, any Lender or any of their respective Affiliates have rendered advisory services
of any nature or respect in connection with any CARES Debt, the CARES Act – Title I or the process leading thereto.

 

10.2.            Negative
Covenants. As long as any Commitments or Obligations are outstanding, each Obligor shall not and shall not permit any Subsidiary
(other than Foreign Subsidiaries) to:

 

10.2.1.      Permitted
Debt. Create, incur, guarantee or suffer to exist any Debt, except:

 

(a)            the
Obligations;

 

(b)            [reserved]the
Second Lien Debt so long as such Debt is subject to the Intercreditor Agreement;

 

(c)            Permitted
Purchase Money Debt and obligations with respect to Capital Leases so long as the aggregate amount outstanding under this clause (c) does
not exceed $2,500,000 at any time;

 

(d)            Borrowed
Money listed on Schedule 10.2.1 (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to
the extent outstanding on the Restatement Date and not satisfied with proceeds of Loans funded on the Restatement Date;

 

(e)            Debt
with respect to Bank Products incurred in the ordinary course of business;

 

(f)             Debt
that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as
long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $1,000,000
in the aggregate at any time;

 

(g)            Permitted
Contingent Obligations;

 

(h)            Refinancing
Debt as long as each Refinancing Condition is satisfied;

 

(i)             Subordinated
Debt;

 

(j)             Debt
of the Obligors owing to any Subsidiary and of any Subsidiary owing to an Obligor or any other Subsidiary; provided, that any
such Debt that is owed by a Subsidiary that is not an Obligor shall be subject to Sections 10.2.5 and 10.2.7;

 

(k)            Debt
owed to any Person (including obligations in respect of letters of credit for the benefit of such Person) providing workers’ compensation,
health, disability or other employee benefits or property, casualty, liability insurance, self-insurance, pursuant to reimbursement or
indemnification obligations to such Person or to finance insurance premiums, in each case incurred in the Ordinary Course of Business;

 

(l)             Debt
consisting of cash earnout obligations owed to the seller of any business or assets acquired in a Permitted Acquisition; provided
that the aggregate amount of Debt outstanding at any one time permitted under this Section 10.2.1(l) shall
not exceed $1,500,000;

 

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(m)           unsecured
Indebtedness in an aggregate principal amount not to exceed $1,955,792, provided that such Debt is not “moratorium debt”
as such term is defined in the Corporate Insolvency and Governance Act 2020 (UK) unless such moratorium debt is incurred with the prior
written consent of Agent, advanced by (i) any Governmental Authority (including the Small Business Administration) or any other
Person acting as a financial agent of a Governmental Authority or (ii) any other Person to the extent such Indebtedness under this
clause (ii) is guaranteed by a Governmental Authority (including the Small Business Administration), in each case under this Section 10.2.1(m),
pursuant to the CARES Act - Title I (such unsecured Indebtedness, “CARES Debt”); provided, that unless otherwise
approved by Agent, (A) no Event of Default shall have occurred and be continuing at the time of incurrence thereof and (B) CARES
Debt shall (1) be used by Obligors and their Subsidiaries solely for purposes permitted under the CARES Act - Title I, (2) have
a maturity date not less than two (2) years after the date of incurrence of the CARES Debt, (3) bear interest at a rate not
greater than one percent (1%) per annum, (4) not require any payments of principal prior to maturity and (5) otherwise have
terms customary for loans made pursuant to the CARES Act - Title I (taken as a whole); provided, further, that CARES Unforgiven
Debt, if any, shall not be permitted under this Section 10.2.1(m); and

 

(n)            Debt
that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $1,000,000 in the
aggregate at any time.

 

For purposes of determining compliance with this
Section 10.2.1, in the event that an item of Debt (or any portion thereof, but excluding any Indebtedness incurred pursuant
to Section 10.2.1(a) at any time meets the criteria of more than one of the categories described above in Section 10.2.1,
the Borrower, in its sole discretion, may classify or reclassify (or later divide, classify or reclassify) such item of Debt (or any
portion thereof) and shall only be required to include the amount and type of such Debt in one of the above clauses. Accrual of interest
or dividends, the accretion of accreted value, the accretion or amortization of original issue discount and the payment of interest,
premium, fees or expenses, in the form of additional Debt (in each case so long as such additional Debt is in the same form and on the
same terms as the Debt to which such payment relates) shall not be deemed to be an incurrence of Debt for purposes of this Section 10.2.1.

 

10.2.2.      Permitted
Liens. Create or suffer to exist any Lien upon any of its Property, except the following (collectively, “Permitted Liens”):

 

(a)            Liens
in favor of Agent;

 

(b)            [reserved]Liens
in favor of Second Lien Agent securing the Second Lien Debt to the extent such Liens are subject to the Intercreditor Agreement;

 

(c)            Purchase
Money Liens securing Permitted Purchase Money Debt;

 

(d)            Liens
for Taxes not yet overdue or being Properly Contested;

 

(e)            inchoate
statutory Liens (other than Liens for Priority Payables, Liens for Taxes or Liens imposed under ERISA) arising in the Ordinary Course
of Business, but only if (i) payment of the obligations secured thereby is not yet due or is being Properly Contested, and (ii) such
Liens do not materially impair the value or use of the Property or materially impair operation of the business of any Borrower or Subsidiary;

 

(f)             Liens
incurred or deposits made in the Ordinary Course of Business to secure the performance of tenders, bids, leases, contracts (except those
relating to Borrowed Money), statutory obligations and other similar obligations, or arising as a result of progress payments under government
contracts, as long as such Liens are at all times junior to Agent’s Liens;

 

(g)            Liens
arising in the Ordinary Course of Business that are subject to Lien Waivers;

 

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(h)            Liens
arising by virtue of a judgment or judicial order against any Borrower or Subsidiary, or any Property of a Borrower or Subsidiary, as
long as such Liens do not give rise to a Default or an Event of Default hereunder and are being Properly Contested;

 

(i)             easements,
rights-of-way, restrictions, covenants or other agreements of record, and other similar charges or encumbrances on Real Estate, that
do not secure any monetary obligation and do not interfere with the Ordinary Course of Business;

 

(j)             normal
and customary rights of setoff upon deposits in favor of depository institutions, and Liens of a collecting bank on Payment Items in
the course of collection;

 

(k)            Liens
securing Debt permitted by Section 10.2.1(c) so long as such Lien does not cover more than the property subject to such
Capital Lease;

 

(l)             with
respect to any Collateral covered by the UK Security Agreements, any Security (as such term is defined in the UK Security Agreements)
arising solely by operation of law or in the ordinary course of trading securing amounts not more than 30 days overdue and not arising
as a result of any default or omission of an Obligor or its Subsidiaries;

 

(m)           statutory
Liens of landlords, carriers, warehousemen, mechanics, materialmen and other Liens imposed by Applicable Law in the Ordinary Course of
Business for amounts not yet due or which are being Properly Contested;

 

(n)            pledges
and deposits made in the Ordinary Course of Business in compliance with workers’ compensation, unemployment insurance and other
social security laws or regulations;

 

(o)            any
Lien existing on any property or asset (other than Accounts or Inventory) prior to the acquisition thereof by the Borrower or any Subsidiary
or existing on any property or asset of any Person that became or becomes a Subsidiary after the Restatement Date prior to the time such
Person became or becomes a Subsidiary; provided that (i) such Lien is not created in contemplation of such acquisition or
such Person becoming a Subsidiary as the case may be, (ii) such Lien shall not apply to any other property or asset of the Borrower
or any Obligor (other than any replacements of such property or assets and additions and accessions thereto, after-acquired property
subject to a Lien securing Debt and other obligations incurred prior to such time and which Debt and other obligations are permitted
hereunder that require, pursuant to their terms at such time, a pledge of after-acquired property, and the proceeds and the products
thereof and customary security deposits in respect thereof and in the case of multiple financings of equipment provided by any lender,
other equipment financed by such lender), (iii) such Lien shall secure only those obligations and unused commitments (and to the
extent such obligations and commitments constitute Debt, such Debt is permitted hereunder) that it secures on the date of such acquisition
or the date such Person becomes a Subsidiary, as the case may be, and extensions, renewals and replacements thereof so long as the principal
amount of such extensions, renewals and replacements does not exceed the principal amount of the obligations being extended, renewed
or replaced (plus any accrued but unpaid interest (including any portion thereof which is payable in kind in accordance with the terms
of such extended, renewed or replaced Debt) and premium payable by the terms of such obligations thereon and fees and expenses associated
therewith) and (iv) the Debt secured by such Lien is incurred pursuant to and in accordance with the terms of Section 10.2.1(f);

 

(p)            Liens
representing (i) any interest or title of a licensor, lessor or sublicensor or sublessor under any lease or license permitted by
this Agreement, (ii) any Lien or restriction that the interest or title of such lessor, licensor, sublessor or sublicensor may be
subject to, or (iii) the interest of a licensee, lessee, sublicensee or sublessee arising by virtue of being granted a license or
lease permitted by this Agreement, in each case not interfering in any material respect with the ordinary conduct of the business of
the Borrowers and the Subsidiaries, taken as a whole;

 

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(q)            any
Lien in connection with debt permitted under Section 10.2.1(h);

 

(r)             Liens
arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into in the Ordinary
Course of Business;

 

(s)            the
filing of UCC financing statements solely as a precautionary measure or required notice in connection with operating leases or consignment
of goods;

 

(t)             Liens
not otherwise permitted by this Section10.2.2 to the extent that the aggregate outstanding amount of the obligations secured
thereby at any time outstanding does not exceed $500,000;

 

(u)            Liens
in favor of customs and revenue authorities to secure payment of customs duties in connection with the importation of goods;

 

(v)            Liens
of bailees in the Ordinary Course of Business;

 

(w)           utility
and similar deposits in the Ordinary Course of Business;

 

(x)             non-exclusive
licenses and sublicenses granted by a Borrower or any of its Subsidiaries and leases and subleases by a Borrower or any Subsidiary to
third parties in the Ordinary Course of Business not interfering with the business of a Borrower or any of its Subsidiaries; and

 

(y)            existing
Liens shown on Schedule 10.2.2.

 

For purposes of determining compliance with this
Section 10.2.2, (x) a Lien need not be incurred solely by reference to one category of Liens described above
but may be incurred under any combination of such categories (including in part under one such category and in part under any other such
category) and (y) in the event that a Lien (or any portion thereof) meets the criteria of one or more of such categories of Liens
described above, the Borrowers, in their sole discretion, may classify or may subsequently reclassify at any time such Lien (or any portion
thereof) in any manner that complies with this covenant.

 

Notwithstanding anything to the contrary contained
in this Agreement or any other Loan Document (including any provision for, reference to, or acknowledgement of, any Lien or Permitted
Lien), nothing herein and no approval by the Agent or any Lender of any Lien or Permitted Lien (whether such approval is oral or in writing)
shall be construed as or deemed to constitute a subordination by the Agent or such Lender of any security interest or other right, interest
or Lien in or to the Collateral or any part thereof in favor of any Lien or Permitted Lien or any holder of any Lien or Permitted Lien.

 

10.2.3.      [Intentionally
Deleted].

 

10.2.4.      Distributions;
Upstream Payments. Declare or make, directly or indirectly, any Distribution (or enter into any agreement which obligates any Borrower
or Subsidiary to make any Distribution unless such agreement is conditioned upon either obtaining the consent of Agent and Required Lenders
to such transaction or the Full Payment of the Obligations upon the making of such Distribution), except Permitted Restricted Payments;
or create or suffer to exist any encumbrance or restriction on the ability of a Subsidiary to make any Upstream Payment, except for restrictions
under the Loan Documents, under Applicable Law or in effect on the Restatement Date as shown on Schedule 9.1.15.

 

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10.2.5.      Restricted
Investments. Make any Restricted Investment.

 

10.2.6.      Disposition
of Assets. Make any Asset Disposition, except a Permitted Asset Disposition, a disposition of Equipment under Section 8.4.2,
or a transfer of Property by a Subsidiary or Obligor to a Borrower.

 

10.2.7.      Loans.
Make any loans or advances, except (a) to officers, directors, partners and employees of the Obligors in the Ordinary Course of
Business in an amount greater than $200,000 to any individual at any time or in an aggregate amount greater than $500,000 at any time
outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; (b) prepaid expenses and extensions
of trade credit made in the Ordinary Course of Business; (c) deposits with financial institutions permitted hereunder; and (d) as
long as no Default or Event of Default exists, intercompany loans by an Obligor to another Obligor, provided that intercompany loans
from the US Borrowers (i) to the Canadian Guarantors shall not exceed $500,000 in the aggregate at any time and (ii) to the
UK Guarantors shall not exceed $1,000,000 in the aggregate at any time.

 

10.2.8.      Restrictions
on Payment of Certain Debt. Except in connection with any Refinancing permitted under Section 10.2.1, make any payments
(whether voluntary or mandatory, or a prepayment, redemption, retirement, defeasance or acquisition) with respect to any (a) Subordinated
Debt, except regularly scheduled payments of principal, interest and fees, but only to the extent permitted under any subordination agreement
relating to such Debt (and a Senior Officer of Borrower Agent shall certify to Agent, not less than five Business Days prior to the date
of payment, that all conditions under such agreement have been satisfied); or (b) Borrowed Money (other than the Obligations) prior
to its due date under the agreements evidencing such Debt as in effect on the Restatement Date (or as amended thereafter with the consent
of Agent).

 

10.2.9.      Fundamental
Changes. (a) Change its name or conduct business under any fictitious name; change its tax, charter or other organizational
identification number; change its form or state of organization, without, in the case of any such change described in this clause (a),
providing not less than ten (10) days prior written notice to Agent, (b) liquidate, wind up its affairs or dissolve itself;
or (c) merge, amalgamate, combine or consolidate with any Person, whether in a single transaction or in a series of related transactions,
except for (i) mergers, amalgamations or consolidations of a wholly-owned Subsidiary with another wholly-owned Subsidiary or into
a Borrower; or (ii) Permitted Acquisitions.

 

10.2.10.    Subsidiaries.
Form or acquire any Subsidiary after the Restatement Date, except in accordance with Sections 10.1.9, 10.2.5 and 10.2.9;
or permit any existing Subsidiary to issue any additional Equity Interests except director’s qualifying shares.

 

10.2.11.    Organic
Documents. Amend, modify or otherwise change any of its Organic Documents in any manner adverse to the Lenders, except in connection
with either a rights distribution by the Company or a transaction permitted under Section 10.2.9.

 

10.2.12.    Tax
Consolidation. File or consent to the filing of any consolidated income tax return with any Person other than Obligors and Subsidiaries.

 

10.2.13.    Accounting
Changes. Make any material change in accounting treatment or reporting practices, except as required by GAAP and in accordance with
Section 1.2; or change its Fiscal Year.

 

10.2.14.    Restrictive
Agreements. Become a party to any Restrictive Agreement, except a Restrictive Agreement (a) in effect on the Restatement Date;
and (b) following the Restatement Date, subject to Agent’s prior consent.

 

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10.2.15.    Hedging
Agreements. Enter into any Hedging Agreement, except to hedge risks arising in the Ordinary Course of Business and not for speculative
purposes.

 

10.2.16.    Conduct
of Business. Engage in any business, other than (i) the businesses conducted by the Obligors on the Restatement Date and activities
incidental or supplemental thereto, and (ii) businesses similar to the business conducted by the Obligors on the Restatement Date
or other businesses approved by Agent in its Permitted Discretion. This Section 10.2.16 shall not apply to Immaterial Foreign
Subsidiaries.

 

10.2.17.    Affiliate
Transactions. Enter into or be party to any transaction with an Affiliate, except (a) transactions expressly permitted by the
Loan Documents; (b) payment of reasonable compensation to officers and employees for services actually rendered, and payment of
customary directors’ fees and indemnities; (c) transactions solely among Obligors; (d) transactions with Affiliates that
were consummated prior to the Restatement Date, as shown on Schedule 10.2.17; (e) intercompany loans permitted under Section 10.2.7;
and (f) subject to Agent’s prior consent (such consent not to be unreasonably withheld, denied, delayed or conditioned), transactions
with Affiliates in the Ordinary Course of Business, upon fair and reasonable terms which are fully disclosed to Agent and no less favorable
than would be obtained in a comparable arm’s-length transaction with a non-Affiliate.

 

10.2.18.    Plans.
Become party to (including by way of acquisition of any Person), without the consent of the Agent (acting reasonably), any Multiemployer
Plan, Canadian Defined Benefit Pension Plan or Foreign Plan, other than any in existence on the Restatement Date.

 

10.2.19.    Amendments
Subordinated Debt. Amend, restate, supplement or otherwise modify any document, instrument or agreement relating to the Subordinated
Debt, if such modification (i) increases the principal balance of such Debt, or increases any required payment of principal or interest;
(ii) accelerates the date on which any installment of principal or any interest is due, or adds any additional redemption, put or
prepayment provisions; (iii) shortens the final maturity date or otherwise accelerates amortization; (iv) increases the interest
rate; (v) materially increases or adds any fees or charges; (vi) modifies any covenant in a manner or adds any representation,
covenant or default that is more onerous or restrictive in any material respect for any Obligor or Subsidiary, or that is otherwise materially
adverse to any Obligor, any Subsidiary or Lenders; or (vii) results in the Obligations not being fully benefited by the subordination
provisions thereof.

 

10.2.20.    Amendments
to CARES Debt. Anything to the contrary contained in this Agreement notwithstanding, agree to any amendment, restatement, supplement,
waiver or other modification of the CARES Debt if the effect of such amendment, restatement, supplement, waiver or other modification
would be materially adverse to Obligors or the Lenders.

 

10.3.        Financial
Covenants.

 

10.3.1.      Fixed
Charge Coverage Ratio. If a Financial Covenant Testing Period shall be in effect, Obligors
and their Subsidiaries shall maintain a Fixed Charge Coverage Ratio as of ‎the
last day of each Fiscal Month, commencing on the first day of such Financial Covenant Testing Period
and continuing until such Financial Covenant Testing Period shall no longer be continuingDecember 31,
2022, for each period ‎of
twelve consecutive Fiscal Months then most recently ended, of at least 1.00 to ‎‎1.00.‎

 

10.3.2.      Minimum
Availability. Obligors and their Subsidiaries shall maintain Availability at all times of at least $3,000,000 (provided that, for purposes
of determining compliance with this covenant as of the First Amendment Effective Date, Availability shall be deemed to include the net
cash proceeds received by Borrowers from the funding of the initial term loan under the Second Lien Loan Agreement on the First Amendment
Effective Date).‎

 

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10.3.3.      Minimum
EBITDA. Obligors and their Subsidiaries shall achieve EBITDA for each ‎Applicable Period set ‎forth below of not less than the
Minimum EBITDA ‎amount set forth below opposite ‎such Applicable Period:‎

 

		Applicable
                                            Period	Minimum
                                            EBITDA
	 	 	 	 
		Three
                                            Fiscal Months ending April 2, 2022	[***]	 
	 	Four
                                            Fiscal Months ending April 30, 2022	[***]	 
	 	Five
                                            Fiscal Months ending May 28, 2022	[***]	 
	 	Six
                                            Fiscal Months ending July 2, 2022	[***]	 
	 	Seven
                                            Fiscal Months ending July 30, 2022	[***]	 
	 	Eight
                                            Fiscal Months ending August 27, 2022	[***]	 
	 	Nine
                                            Fiscal Months ending October 1, 2022	[***]	 
	 	Ten
                                            Fiscal Months ending October 29, 2022	[***]	 
	 	Eleven
                                            Fiscal Months ending November 26, 2022	[***]	 

 

10.4.        Restrictions
on Activities of Company. Obligors covenant and agree that Company shall not (i) hold any assets other than the Equity Interests
of SI USA, SI UK or SI Asia and cash and Cash Equivalents, (ii) have any material liabilities other than liabilities under the Loan
Documents, tax liabilities in the Ordinary Course of Business, liabilities under employment agreements and written employment arrangements,
and corporate, administrative and operating expenses in the Ordinary Course of Business, or (iii) engage in any business other than
owning the Equity Interests of SI USA and activities incidental to such ownership, acting as a co-borrower in respect of the Obligations
hereunder, and granting to Agent for the benefit of Lenders, security interests in and Liens upon its assets pursuant to the Security
Documents to which it is a party.

 

10.5.        Restrictions
on Activities of Foreign Subsidiaries. Obligors covenant and agree that (a) no Obligor shall guaranty any liabilities or
obligations of any Foreign Subsidiary; (b) no Obligor shall make any Investment in, or transfer any properties or assets to, any
Foreign Subsidiary, other than as permitted under Sections 10.2.5 and 10.2.17; (c) no Foreign Subsidiary shall create
or suffer to exist any encumbrance or restriction on the ability of a Subsidiary to make any Upstream Payment, except for restrictions
under the Loan Documents, under Applicable Law or in effect on the Restatement Date as shown on Schedule 9.1.15 and (d) the
aggregate outstanding Debt owed by Foreign Subsidiaries (excluding Debt owed to Obligors that is permitted under Section 10.2.7)
shall not at any time exceed the foreign currency equivalent of $250,000.

 

Section 11.       EVENTS OF DEFAULT; REMEDIES ON DEFAULT

 

11.1.        Events
of Default. Each of the following shall be an “Event of Default” if it occurs for any reason whatsoever, whether
voluntary or involuntary, by operation of law or otherwise:

 

(a)            Any
Obligor fails to pay (i) its Obligations under the Loan Documents constituting principal, interest, or any fees payable under Sections
3.2.1, 3.2.2 or 3.2.3 when due (whether at stated maturity, on demand, upon acceleration or otherwise) or (ii) solely
with respect to any Obligations not constituting principal, interest, or any fees payable under Sections 3.2.1, 3.2.2 or 3.2.3;

 

(b)            Any
representation, warranty or other written statement of an Obligor made in connection with any Loan Documents or transactions contemplated
thereby is incorrect or misleading in any material respect when given;

 

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(c)            An
Obligor breaches or fail to perform any covenant contained in Section 7.4, 8.1, 8.2.4, 8.2.5, 8.5, 8.6.2, 10.1.1(a), 10.1.2,
10.1.3, 10.1.6, 10.2 or 10.3;

 

(d)            An
Obligor breaches or fails to perform any other covenant contained in any Loan Documents, and such breach or failure is not cured within
20 days after a Senior Officer of such Obligor has knowledge thereof or receives notice thereof from Agent, whichever is sooner; provided,
however, that such notice and opportunity to cure shall not apply if the breach or failure to perform is not capable of being cured within
such period or is a willful breach by an Obligor;

 

(e)            A
Guarantor repudiates, revokes or attempts to revoke in writing its Guaranty; an Obligor or third party denies or contests the validity
or enforceability of any Loan Documents or Obligations, or the perfection or priority of any Lien granted to Agent; or any Loan Document
ceases to be in full force or effect for any reason (other than a waiver or release by Agent and Lenders);

 

(f)            Any
(i) breach or default of an Obligor occurs under any Hedging Agreement, (ii) any
 “Event of Default” (as defined in the Second Lien Loan Agreement) occurs under the Second Lien Loan Documents, or
(iiiii)
any breach or default of an Obligor occurs under any instrument or agreement to which it is a party or by which it or any of its Properties
is bound, relating to any Debt (other than the Obligations or
the Second Lien Debt) in excess of $2,000,000 (if, with respect to this clause (iiiii),
the maturity of or any payment with respect to such Debt may be accelerated or demanded due to such breach); provided that so
long as the Agent has not exercised any remedies under this Section 11, any Default or Event of Default under this Section 11.1(f) shall
be immediately cured and no longer continuing (without any action on the part of the Agent, any Lender or otherwise) as and when any
such failure (x) is remedied by the Borrowers or applicable Subsidiary or (y) is waived (including in the form of amendment)
by the requisite holders of the applicable foregoing;

 

(g)            Any
final non-appealable judgment or order for the payment of money is entered against an Obligor in an amount that exceeds, individually
or cumulatively with all unsatisfied judgments or orders against all Obligors, $1,000,000 (net of insurance coverage therefor that has
not been denied by the insurer) and has not been paid, satisfied, discharged, or vacated and there is a period of 30 calendar days during
which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect;

 

(h)            A
loss, theft, damage or destruction occurs with respect to any Collateral if the amount not covered by insurance exceeds $2,000,000;

 

(i)            An
Obligor is enjoined, restrained or in any way prevented by any Governmental Authority from conducting any material part of its business;
an Obligor suffers the loss, revocation or termination of any material license, permit, lease or agreement necessary to its business;
there is a cessation of any material part of an Obligor’s business for a material period of time; any material Collateral or Property
of an Obligor is taken or impaired through condemnation; an Obligor agrees to or commences any liquidation, dissolution or winding up
of its affairs; or an Obligor is not Solvent;

 

(j)            An
Insolvency Proceeding is commenced by an Obligor; an Obligor makes an offer of settlement, extension or composition to its unsecured
creditors generally; any Obligor becomes unable or admits in writing its inability or fails generally to pay its debts as they become
due in the Ordinary Course of Business; a trustee, a receiver, an interim receiver, monitor, liquidator or similar official is appointed
to take possession of any substantial Property of or to operate any of the business of an Obligor; or an Insolvency Proceeding or proceeding
applicable to bankruptcy or insolvency is commenced against an Obligor and: the Obligor consents to institution of the proceeding, the
petition or notice commencing the proceeding is not timely contested by the Obligor, the petition or notice is not, in respect of an
Obligor (other than a UK Guarantor, dismissed within 45 days after filing, an order for relief is entered in the proceeding, or in respect
of a UK Guarantor, the petition is a winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed within
14 days of commencement;

 

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(k)            (i) An
ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan that has resulted or could reasonably be expected to result in
liability of an Obligor to a Pension Plan, Multiemployer Plan or PBGC or that constitutes grounds for appointment of a trustee for or
termination by the PBGC of any Pension Plan or Multiemployer Plan; an Obligor or ERISA Affiliate fails to pay when due any installment
payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan; (ii) a Termination
Event occurs with respect to a Canadian Defined Benefit Pension Plan in respect of which a Canadian Priority Payables Reserve has not
been taken or any Lien arises in respect of Obligors (save for contribution amounts not yet due) in connection with any Canadian Pension
Plan which Lien would reasonably be expected to result in a Material Adverse Effect; (iii) an event occurs which constitutes grounds
for the termination of any UK Pension Scheme or for the appointment of a receiver, liquidator, administrator or trustee in bankruptcy
of any UK Pension Scheme or if any Obligor is in default with respect to the terms of payment or the performance of its obligations under
any UK Pension Scheme or any Lien arises in respect of any Obligor in connection with any UK Pension Scheme or (iv) any event similar
to the foregoing occurs or exists with respect to a Foreign Plan;

 

(l)             An
Obligor or any of its Senior Officers is criminally indicted or convicted for (i) a felony committed in the conduct of the Obligor’s
business, or (ii) violating any state, provincial or federal law (including the Controlled Substances Act, Money Laundering Control
Act of 1986, Proceeds of Crime Act and Illegal Exportation of War Materials Act) that could lead to forfeiture of any material Property
or any Collateral;

 

(m)            A
Change of Control occurs;

 

(n)            [Reserved];

 

(o)            Any
fine is issued against any Obligors by the CPSC in an amount that exceeds, individually or cumulatively with all other fines issued by
the CPSC against the Obligors within the prior 12 months, $1,500,000;

 

(p)            Obligors
institute a recall of products or toys constituting Inventory which: (i) is unsaleable or unable to be repaired and has an aggregate
Value in excess of $2,000,000, (ii) results in, or could reasonably be expected to result in, the Obligors expending in excess of
$2,000,000 in connection with the recall, repair, remediation or replacement of such Inventory, or (iii) results in, or could reasonably
be expected to result in, the Obligors incurring claims, losses, liabilities or damages in excess of $5,000,000 in the aggregate (net
of insurance coverage therefor that has not been denied by the insurer);

 

(q)            The
subordination provisions of any agreement or instrument relating to any Subordinated Debt shall for any reason be revoked or invalidated,
or otherwise cease to be in full force and effect, or any Person party thereto (other than Agent, the Lenders or the Issuing Bank) shall
contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation thereunder, or the
Obligations, for any reason shall not have the priority contemplated by this Agreement or such subordination provisions;

 

(r)            (i) Any
provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder
or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Obligor or any other Person
contests in any manner the validity or enforceability of any provision of any Loan Document; or any Obligor denies that it has any or
further liability or obligation under any provision of any Loan Document, or purports to revoke, terminate or rescind any provision of
any Loan Document or seeks to avoid, limit or otherwise adversely affect any Lien purported to be created under any Security Document;
or (ii) any Lien purported to be created under any Security Document shall cease to be, or shall be asserted by any Loan Party or
any other Person not to be, a valid and perfected Lien on any Collateral, with the priority required by the applicable Security Document;

 

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(s)            Except
as otherwise expressly permitted hereunder, an Obligor shall take any action to either: (i) suspend the operation of all or a material
portion of its business in the ordinary course, (ii) suspend the payment of any material obligations in the ordinary course or suspend
the performance under Material Contracts in the ordinary course, (iii) solicit proposals for the liquidation of, or undertake to
liquidate, all or a material portion of its assets, or (iv) solicit proposals for the employment of, or employ, an agent or other
third party to conduct a program of liquidation sales of any material portion of its business, taken as a whole; or

 

(t)             any
event of default occurs with respect to the CARES Debt or any event or condition occurs that results in the CARES Debt becoming due prior
to its scheduled maturity or that enables or permits the holder or holders thereof to declare the CARES Debt to be due, or to require
the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity.

 

11.2.        Remedies
upon Default. If an Event of Default described in Section 11.1(j) occurs with respect to any Borrower, then
to the extent permitted by Applicable Law, all Obligations (other than Secured Bank Product Obligations) shall become automatically due
and payable and all Commitments shall terminate, without any action by Agent or notice of any kind. In addition, or if any other Event
of Default exists, Agent may in its discretion (and shall upon written direction of Required Lenders) do any one or more of the following
from time to time:

 

(a)            declare
any Obligations (other than Secured Bank Product Obligations) immediately due and payable, whereupon they shall be due and payable without
diligence, presentment, demand, protest or notice of any kind, all of which are hereby waived by Borrowers to the fullest extent permitted
by law;

 

(b)            terminate,
reduce or condition any Commitment, or make any adjustment to the Revolver Borrowing Base or FILO Borrowing Base;

 

(c)            require
Obligors to Cash Collateralize LC Obligations, Secured Bank Product Obligations and other Obligations that are contingent or not yet
due and payable, and, if Obligors fail promptly to deposit such Cash Collateral, Agent may (and shall upon the direction of Required
Lenders) advance the required Cash Collateral as Revolver Loans (whether or not a Revolver Overadvance exists or is created thereby,
or the conditions in Section 6 are satisfied); and

 

(d)            exercise
any other rights or remedies afforded under any agreement, by law, at equity or otherwise, including the rights and remedies of a secured
party under the UCC, PPSA or UK ST Law. Such rights and remedies include the rights to (i) take possession of any Collateral; (ii) require
Obligors to assemble Collateral, at Obligors’ expense, and make it available to Agent at a place designated by Agent; (iii) enter
any premises where Collateral is located and store Collateral on such premises until sold (and if the premises are owned or leased by
an Obligor, Obligors agree not to charge for such storage); and (iv) sell or otherwise dispose of any Collateral in its then condition,
or after any further manufacturing or processing thereof, at public or private sale, with such notice as may be required by Applicable
Law, in lots or in bulk, at such locations, all as Agent, in its discretion, deems advisable. Each Obligor agrees that 10 days’
notice of any proposed sale or other disposition of Collateral by Agent shall be reasonable, and that any sale conducted on the internet
or to a licensor of Intellectual Property shall be commercially reasonable. Agent may conduct sales on any Obligor’s premises,
without charge, and any sale may be adjourned from time to time in accordance with Applicable Law. Agent shall have the right to sell,
lease or otherwise dispose of any Collateral for cash, credit or any combination thereof, and Agent may purchase any Collateral at public
or, if permitted by law, private sale and, in lieu of actual payment of the purchase price, may credit bid and set off the amount of
such price against the Obligations.

 

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11.3.         License.
Agent is hereby granted an irrevocable, non-exclusive license or other right to use, license or sub-license (without payment of royalty
or other compensation to any Person) any or all Intellectual Property of Obligors, computer hardware and software, trade secrets, brochures,
customer lists, promotional and advertising materials, labels, packaging materials and other Property, in advertising for sale, marketing,
selling, collecting, completing manufacture of, or otherwise exercising any rights or remedies with respect to, any Collateral. Each
Obligor’s rights and interests under Intellectual Property shall inure to Agent’s benefit.

 

11.4.        Setoff.
At any time during an Event of Default, Agent, Issuing Bank, Lenders, and any of their Affiliates are authorized, to the fullest
extent permitted by Applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final,
in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by Agent, Issuing Bank, such
Lender or such Affiliate to or for the credit or the account of an Obligor against any Obligations, irrespective of whether or not Agent, Issuing
Bank, such Lender or such Affiliate shall have made any demand under this Agreement or any other Loan Document and although such Obligations
may be contingent or unmatured or are owed to a branch or office of Agent, Issuing Bank, such Lender or such Affiliate different
from the branch or office holding such deposit or obligated on such indebtedness. The rights of Agent, Issuing Bank, each Lender
and each such Affiliate under this Section are in addition to other rights and remedies (including other rights of setoff) that
such Person may have.

 

11.5.        Remedies
Cumulative; No Waiver.

 

11.5.1.      Cumulative
Rights. All agreements, warranties, guaranties, indemnities and other undertakings of Obligors under the Loan Documents are cumulative
and not in derogation of each other. The rights and remedies of Agent and Lenders are cumulative, may be exercised at any time and from
time to time, concurrently or in any order, and are not exclusive of any other rights or remedies available by agreement, by law, at
equity or otherwise. All such rights and remedies shall continue in full force and effect until Full Payment of all Obligations.

 

11.5.2.      Waivers.
No waiver or course of dealing shall be established by (a) the failure or delay of Agent or any Lender to require strict performance
by Obligors with any terms of the Loan Documents, or to exercise any rights or remedies with respect to Collateral or otherwise; (b) the
making of any Loan or issuance of any Letter of Credit during a Default, Event of Default or other failure to satisfy any conditions
precedent; or (c) acceptance by Agent or any Lender of any payment or performance by an Obligor under any Loan Documents in a manner
other than that specified therein. It is expressly acknowledged by Obligors that any failure to satisfy a financial covenant on a measurement
date shall not be cured or remedied by satisfaction of such covenant on a subsequent date.

 

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Section 12.       AGENT

 

12.1.        Appointment,
Authority and Duties of Agent.

 

12.1.1.      Appointment
and Authority. Each Secured Party appoints and designates Bank of America as Agent under all Loan Documents and to hold the security
interests constituted by the UK Security Agreements on trust for the Secured Parties in accordance with their terms and the Agent accepts
that appointment. Agent may, and each Secured Party authorizes Agent to, enter into all Loan Documents to which Agent is intended to
be a party and accept all Security Documents, for the benefit of Secured Parties. Any action taken by Agent in accordance with the provisions
of the Loan Documents, and the exercise by Agent of any rights or remedies set forth therein, together with all other powers reasonably
incidental thereto, shall be authorized by and binding upon all Secured Parties. Without limiting the generality of the foregoing, Agent
shall have the sole and exclusive authority to (a) act as the disbursing and collecting agent for Lenders with respect to all payments
and collections arising in connection with the Loan Documents; (b) execute and deliver as Agent each Loan Document, including any
intercreditor or subordination agreement, and accept delivery of each Loan Document; (c) act as collateral agent for Secured Parties
for purposes of perfecting and administering Liens under the Loan Documents, and for all other purposes stated therein; (d) manage,
supervise or otherwise deal with Collateral; and (e) take any Enforcement Action or otherwise exercise any rights or remedies with
respect to any Collateral or under any Loan Documents, Applicable Law or otherwise. The duties of Agent are ministerial and administrative
in nature only, and Agent shall not have a fiduciary relationship with any Secured Party, Participant or other Person, by reason of any
Loan Document or any transaction relating thereto. Agent alone shall be authorized to determine whether any Account or Inventory constitutes
an Eligible Account, Eligible In-Transit Inventory or Eligible Inventory, whether to impose or release any reserve, or whether any conditions
to funding or to issuance of a Letter of Credit have been satisfied, which determinations and judgments, if exercised in good faith,
shall exonerate Agent from liability to any Secured Party or other Person for any error in judgment.

 

12.1.2.      Duties.
The title of "Agent" is used solely as a matter of market custom and the duties of Agent are administrative in nature only.
Agent has no duties except those expressly set forth in the Loan Documents, and in no event does Agent have any agency, fiduciary or
implied duty to or relationship with any Secured Party or other Person by reason of any Loan Document or related transaction. The conferral
upon Agent of any right shall not imply a duty to exercise such right, unless instructed to do so by Lenders in accordance with this
Agreement.

 

12.1.3.      Agent
Professionals. Agent may perform its duties through agents and employees. Agent may consult with and employ Agent Professionals,
and shall be entitled to act upon, and shall be fully protected in any action taken in good faith reliance upon, any advice given by
an Agent Professional. Agent shall not be responsible for the negligence or misconduct of any agents, employees or Agent Professionals
selected by it with reasonable care.

 

12.1.4.      Instructions
of Required Lenders. The rights and remedies conferred upon Agent under the Loan Documents may be exercised without the necessity
of joinder of any other party, unless required by Applicable Law. In determining compliance with a condition for any action hereunder,
including satisfaction of any condition in Section 6, Agent may presume that the condition is satisfactory to a Secured Party
unless Agent has received notice to the contrary from such Secured Party before Agent takes the action. Agent may request instructions
from Required Lenders or other Secured Parties with respect to any act (including the failure to act) in connection with any Loan Documents
or Collateral, and may seek assurances to its satisfaction from Secured Parties of their indemnification obligations against Claims that
could be incurred by Agent. Agent may refrain from any act until it has received such instructions or assurances, and shall not incur
liability to any Person by reason of so refraining. Instructions of Required Lenders shall be binding upon all Secured Parties, and no
Secured Party shall have any right of action whatsoever against Agent as a result of Agent acting or refraining from acting pursuant
to instructions of Required Lenders. Notwithstanding the foregoing, instructions by and consent of specific parties shall be required
to the extent provided in Section 14.1.1. In no event shall Agent be required to take any action that, in its opinion, is
contrary to Applicable Law or any Loan Documents or could subject any Agent Indemnitee to personal liability.

 

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12.2.        Agreements
Regarding Collateral and Borrower Materials.

 

12.2.1.      Lien
Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien with respect to any Collateral (a) upon Full
Payment of the Obligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset
Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate
without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) subject to Section 14.1,
with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien
entitled to priority hereunder. Agent shall have no obligation to assure that any Collateral exists or is owned by an Obligor, or is
cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled
to any particular priority, nor to exercise any duty of care with respect to any Collateral.

 

12.2.2.      Possession
of Collateral. Agent and Secured Parties appoint each Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting
Liens in any Collateral held or controlled by such Lender, to the extent such Liens are perfected by possession or control. If any Lender
obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such
Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions.

 

12.2.3.      Reports.
Agent shall promptly provide to Lenders, when complete, any field audit, examination, Inventory appraisal report or Brand Appraisal
prepared for Agent with respect to any Obligor or Collateral (“Report”). Reports and other Borrower Materials may
be made available to Lenders by providing access to them on the Platform, but Agent shall not be responsible for system failures or access
issues that may occur from time to time. Each Lender agrees (a) that Reports are not intended to be comprehensive audits or examinations,
and that Agent or any other Person performing an audit or examination will inspect only specific information regarding the Obligations
or Collateral and will rely significantly upon Obligors’ books, records and representations; (b) that Agent makes no representation
or warranty as to the accuracy or completeness of any Borrower Materials and shall not be liable for any information contained in or
omitted from any Borrower Materials, including any Report; and (c) to keep all Borrower Materials confidential and strictly for
such Lender’s internal use, not to distribute any Report or other Borrower Materials (or the contents thereof) to any Person (except
to such Lender’s Participants, attorneys and accountants), and to use all Borrower Materials solely for administration of the Obligations.
Each Lender shall indemnify and hold harmless Agent and any other Person preparing a Report from any action such Lender may take as a
result of or any conclusion it may draw from any Borrower Materials, as well as from any Claims arising as a direct or indirect result
of Agent furnishing same to such Lender, via the Platform or otherwise.

 

12.3.        Reliance
By Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any certification, notice or other communication
(including those by telephone, telex, telegram, telecopy or e-mail) believed by it to be genuine and correct and to have been signed,
sent or made by the proper Person. Agent shall have a reasonable and practicable amount of time to act upon any instruction, notice or
other communication under any Loan Document, and shall not be liable for any delay in acting.

 

12.4.        Action
Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any
conditions in Section 6, unless it has received written notice from a Borrower or Required Lenders specifying the occurrence
and nature thereof. If any Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly
notify Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Loan Documents
or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than
Secured Bank Product Obligations), or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure
sales, UCC sales or PPSA sales other dispositions of Collateral, or to assert any rights relating to any Collateral.

 

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12.5.        Ratable
Sharing. If any Lender obtains any payment or reduction of any Obligation, whether through set-off or otherwise, in excess of
its share of such Obligation, determined in accordance with each Lender’s Applicable Percentage of such Obligation (or in accordance
with Section 5.6.2, as applicable), such Lender shall forthwith purchase from Agent, Issuing Bank and the other Lenders
such participations in the affected Obligation as are necessary to share the excess payment or reduction in accordance with each Lender’s
Applicable Percentage thereof (or in accordance with Section 5.6.2, as applicable). If any of such payment or reduction is
thereafter recovered from the purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such
recovery, but without interest. Notwithstanding the foregoing, if a Defaulting Lender obtains a payment or reduction of any Obligation,
it shall immediately turn over the amount thereof to Agent for application under Section 4.2.2 and it shall provide a written
statement to Agent describing the Obligation affected by such payment or reduction. No Lender shall set off against any Dominion Account
without Agent’s prior consent.

 

12.6.         Indemnification.
EACH SECURED PARTY SHALL INDEMNIFY AND HOLD HARMLESS AGENT INDEMNITEES AND ISSUING BANK INDEMNITEES, TO THE EXTENT NOT REIMBURSED BY
OBLIGORS, ON A PRO RATA BASIS, AGAINST ALL CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY SUCH INDEMNITEE, PROVIDED THAT
ANY CLAIM AGAINST AN AGENT INDEMNITEE RELATES TO OR ARISES FROM ITS ACTING AS OR FOR AGENT (IN THE CAPACITY OF AGENT). In Agent’s
discretion, it may reserve for any Claims made against an Agent Indemnitee or Issuing Bank Indemnitee, and may satisfy any judgment,
order or settlement relating thereto, from proceeds of Collateral prior to making any distribution of Collateral proceeds to Secured
Parties. If Agent is sued by any receiver, trustee or other Person for any alleged preference or fraudulent transfer, then any monies
paid by Agent in settlement or satisfaction of such proceeding, together with all interest, costs and expenses (including attorneys’
fees) incurred in the defense of same, shall be promptly reimbursed to Agent by each Lender to the extent of its Applicable Percentage.
Notwithstanding anything to the contrary set forth herein, no Indemnitee shall be entitled to indemnification from any Lender for a claim
that is directly and solely attributable to the gross negligence or willful misconduct of such Indemnitee.

 

12.7.        Limitation
on Responsibilities of Agent. Agent shall not be liable to any Secured Party for any action taken or omitted to be taken under
the Loan Documents, except for losses directly and solely caused by Agent’s gross negligence or willful misconduct. Agent does
not assume any responsibility for any failure or delay in performance or any breach by any Obligor, Lender or other Secured Party of
any obligations under the Loan Documents. Agent does not make any express or implied representation, warranty or guarantee to Secured
Parties with respect to any Obligations, Collateral, Loan Documents or Obligor. No Agent Indemnitee shall be responsible to Secured Parties
for any recitals, statements, information, representations or warranties contained in any Loan Documents or Borrower Materials; the execution,
validity, genuineness, effectiveness or enforceability of any Loan Documents; the genuineness, enforceability, collectibility, value,
sufficiency, location or existence of any Collateral, or the validity, extent, perfection or priority of any Lien therein; the validity,
enforceability or collectibility of any Obligations; or the assets, liabilities, financial condition, results of operations, business,
creditworthiness or legal status of any Obligor or Account Debtor. No Agent Indemnitee shall have any obligation to any Secured Party
to ascertain or inquire into the existence of any Default or Event of Default, the observance by any Obligor of any terms of the Loan
Documents, or the satisfaction of any conditions precedent contained in any Loan Documents. Agent shall not be responsible or have any
liability for, or have any duty to ascertain, inquire into, monitor the list or identities of, or enforce, compliance with the provisions
hereof relating to Competitors. Without limiting the generality of the foregoing, Agent shall not (x) be obligated to ascertain,
monitor or inquire as to whether any Lender (other than a Lender which is an Affiliate of Agent) or Participant (other than a Participant
which is an Affiliate of Agent) or prospective Lender or Participant (other than a prospective Lender or a Participant which is an Affiliate
of Agent) is a Competitor or (y) have any liability with respect to or arising out of any assignment or participation of Loans,
or disclosure of confidential information, to any Competitor.

 

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12.8.        Successor
Agent and Co-Agents.

 

12.8.1.      Resignation;
Successor Agent. Subject to the appointment and acceptance of a successor Agent as provided below, Agent may resign at any time by
giving at least 30 days written notice thereof to Lenders and Borrower Agent. Upon receipt of such notice, Required Lenders shall have
the right to appoint a successor Agent which shall be (a) a Lender or an Affiliate of a Lender; or (b) a financial institution
reasonably acceptable to Required Lenders and (provided no Default or Event of Default exists) Borrower Agent. If no successor agent
is appointed prior to the effective date of Agent’s resignation, then Agent may appoint a successor agent that is a financial institution
acceptable to it, which shall be a Lender unless no Lender accepts the role. Upon acceptance by a successor Agent of its appointment
hereunder, such successor Agent shall thereupon succeed to and become vested with all the powers and duties of the retiring Agent without
further act, and the retiring Agent shall be discharged from its duties and obligations hereunder but shall continue to have the benefits
of the indemnification set forth in Sections 12.6 and 14.2. Notwithstanding any Agent’s resignation, the provisions
of this Section 12 shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it
while Agent. Any successor to Bank of America by merger or acquisition of stock or this loan shall continue to be Agent hereunder without
further act on the part of any Secured Party or Obligor.

 

12.8.2.      Co-Collateral
Agent. If necessary or appropriate under Applicable Law, Agent may appoint a Person to serve as a co-collateral agent or separate
collateral agent under any Loan Document. Each right and remedy intended to be available to Agent under the Loan Document shall also
be vested in such agent. Secured Parties shall execute and deliver any instrument or agreement that Agent may request to effect such
appointment. If the agent shall die, dissolve, become incapable of acting, resign or be removed, then all the rights and remedies of
such agent, to the extent permitted by Applicable Law, shall vest in and be exercised by Agent until appointment of a new agent.

 

12.9.        Due
Diligence and Non-Reliance. Each Lender acknowledges and agrees that it has, independently and without reliance upon Agent or
any other Lenders, and based upon such documents, information and analyses as it has deemed appropriate, made its own credit analysis
of each Obligor and its own decision to enter into this Agreement and to fund Loans and participate in LC Obligations hereunder. Each
Secured Party has made such inquiries as it feels necessary concerning the Loan Documents, Collateral and Obligors. Each Secured Party
acknowledges and agrees that the other Secured Parties have made no representations or warranties concerning any Obligor, any Collateral
or the legality, validity, sufficiency or enforceability of any Loan Documents or Obligations. Each Secured Party will, independently
and without reliance upon any other Secured Party, and based upon such financial statements, documents and information as it deems appropriate
at the time, continue to make and rely upon its own credit decisions in making Loans and participating in LC Obligations, and in taking
or refraining from any action under any Loan Documents. Except for notices, reports and other information expressly requested by a Lender,
Agent shall have no duty or responsibility to provide any Secured Party with any notices, reports or certificates furnished to Agent
by any Obligor or any credit or other information concerning the affairs, financial condition, business or Properties of any Obligor
(or any of its Affiliates) which may come into possession of Agent or its Affiliates.

 

12.10.      Remittance
of Payments and Collections.

 

12.10.1.    Remittances
Generally. All payments by any Lender to Agent shall be made by the time and on the day set forth in this Agreement, in immediately
available funds. If no time for payment is specified or if payment is due on demand by Agent and request for payment is made by Agent
by 11:00 a.m. on a Business Day, payment shall be made by Lender not later than 2:00 p.m. on such day, and if request is made
after 11:00 a.m., then payment shall be made by 11:00 a.m. on the next Business Day. Payment by Agent to any Secured Party shall
be made by wire transfer, in the type of funds received by Agent. Any such payment shall be subject to Agent’s right of offset
for any amounts due from such payee under the Loan Documents.

 

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12.10.2.            Failure
to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear
interest, from the due date until paid in full, at the rate determined by Agent as customary for interbank compensation for two Business
Days and thereafter at the Default Rate for Base Rate FILO Loans. In no event shall Borrowers be entitled to receive credit for any interest
paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.

 

12.10.3.            Recovery
of Payments. If Agent pays an amount to a Secured Party in the expectation that a related payment will be received by Agent from
an Obligor and such related payment is not received, then Agent may recover such amount from the Secured Party. If Agent determines that
an amount received by it must be returned or paid to an Obligor or other Person pursuant to Applicable Law or otherwise, then, notwithstanding
any other term of any Loan Document, Agent shall not be required to distribute such amount to any Secured Party. If any amounts received
and applied by Agent to any Obligations are later required to be returned by Agent pursuant to Applicable Law, each Lender shall pay
to Agent, on demand, such Lender’s Applicable Percentage of the amounts required to be returned.

 

12.11.            Individual
Capacities. As a Lender, Bank of America shall have the same rights and remedies under the Loan Documents as any other Lender,
and the terms “Lenders,” “Required Lenders,” or any similar term shall include Bank of America in its capacity
as a Lender. Agent, Lenders and their Affiliates may accept deposits from, lend money to, provide Bank Products to, act as financial
or other advisor to, and generally engage in any kind of business with, Obligors and their Affiliates, as if they were not Agent or Lenders
hereunder, without any duty to account therefor to any Secured Party. In their individual capacities, Agent, Lenders and their Affiliates
may receive information regarding Obligors, their Affiliates and their Account Debtors (including information subject to confidentiality
obligations), and shall have no obligation to provide such information to any Secured Party.

 

12.12.            Titles.
Each Lender, other than Bank of America, that is designated (on the cover page of this Agreement or otherwise) by Bank of America
as an “Arranger,” “Bookrunner” or “Agent” of any type shall have no right, power or duty under any
Loan Documents other than those applicable to all Lenders, and shall in no event have any fiduciary duty to any Secured Party.

 

 12.13..           Certain ERISA Matters

 

12.13.1.            Lender
Representations. Each Lender represents and warrants, as of the date it became a Lender party hereto, and covenants, from the date
it became a Lender party hereto to the date it ceases being a Lender party hereto, for the benefit of, Agent and not, for the avoidance
of doubt, to or for the benefit of the Loan Parties, that at least one of the following is and will be true: (a) Lender is not using
 "plan assets" (within the meaning of ERISA Section 3(42) or otherwise) of one or more Benefit Plans with respect to Lender's
entrance into, participation in, administration of and performance of the Loans, Letters of Credit, Commitments or Loan Documents; (b) the
transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent
qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts),
PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption
for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined
by in-house asset managers), is applicable with respect to Lender's entrance into, participation in, administration of and performance
of the Loans, Letters of Credit, Commitments and Loan Documents; (c) (i) Lender is an investment fund managed by a "Qualified
Professional Asset Manager" (within the meaning of Part VI of PTE 84-14), (ii) such Qualified Professional Asset Manager
made the investment decision on behalf of Lender to enter into, participate in, administer and perform the Loans, Letters of Credit,
Commitments and Loan Documents, (iii) the entrance into, participation in, administration of and performance of the Loans, Letters
of Credit, Commitments and Loan Documents satisfies the requirements of sub-sections (b) through (g) of Part I of PTE
84-14, and (iv) to the best knowledge of Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied
with respect to Lender's entrance into, participation in, administration of and performance of the Loans, Letters of Credit, Commitments
and Loan Documents; or (d) such other representation, warranty and covenant as may be agreed in writing between Agent, in its discretion,
and Lender.

 

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12.13.2.            Further
Lender Representation. Unless Section 12.13.1(a) or (d) is true with respect to a Lender, such Lender
further represents and warrants, as of the date it became a Lender hereunder, and covenants, from the date it became a Lender to the
date it ceases to be a Lender hereunder, for the benefit of, Agent and not, for the avoidance of doubt, to or for the benefit of any
Loan Party, that Agent is not a fiduciary with respect to the assets of such Lender involved in its entrance into, participation in,
administration of and performance of the Loans, Letters of Credit, Commitments and Loan Documents (including in connection with the reservation
or exercise of any rights by Agent under any Loan Document).

 

12.14.            Bank
Product Providers. Each Secured Bank Product Provider, by delivery of a notice to Agent of a Bank Product, agrees to be bound
by the Loan Documents, including Sections 5.6, 14.3.3 and 12. Each Secured Bank Product Provider shall indemnify and hold
harmless Agent Indemnitees, to the extent not reimbursed by Obligors, against all Claims that may be incurred by or asserted against
any Agent Indemnitee in connection with such provider’s Secured Bank Product Obligations.

 

12.15.            No
Third Party Beneficiaries. THIS SECTION 12 IS AN AGREEMENT SOLELY AMONG SECURED PARTIES AND AGENT, AND SHALL SURVIVE FULL
PAYMENT OF THE OBLIGATIONS. THIS SECTION 12 DOES NOT CONFER ANY RIGHTS OR BENEFITS UPON BORROWERS OR ANY OTHER PERSON, AS BETWEEN
OBLIGORS AND AGENT, ANY ACTION THAT AGENT MAY TAKE UNDER ANY LOAN DOCUMENTS OR WITH RESPECT TO ANY OBLIGATIONS SHALL BE CONCLUSIVELY
PRESUMED TO HAVE BEEN AUTHORIZED AND DIRECT BY SECURED PARTIES.

 

Section 13.     BENEFIT
OF AGREEMENT; ASSIGNMENTS

 

13.1.            Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of Obligors, Agent, Lenders, Secured Parties, and
their respective successors and assigns, except that (a) no Obligor shall have the right to assign its rights or delegate its obligations
under any Loan Documents; (b) any assignment by a Lender must be made in compliance with Section 13.3. Agent may treat
the Person which made any Loan as the owner thereof for all purposes until such Person makes an assignment in accordance with Section 13.3;
and (c) no Lender may assign any Revolver Loans or any portion of its Revolver Commitments to any Competitor without the prior written
consent of Borrower Agent. Any authorization or consent of a Lender shall be conclusive and binding on any subsequent transferee or assignee
of such Lender.

 

13.2.            Participations.

 

13.2.1.            Permitted
Participants; Effect. Subject to Section 13.3.3, any Lender may sell to a financial institution (“Participant”)
a participating interest in the rights and obligations of such Lender under any Loan Documents; provided, that no Lender shall
sell any participating interest to any Competitor without the prior written consent of Borrower Agent. Despite any sale by a Lender of
participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, it shall remain
solely responsible to the other parties hereto for performance of such obligations, it shall remain the holder of its Loans and Commitments
for all purposes, all amounts payable by Obligors shall be determined as if it had not sold such participating interests, and Obligors
and Agent shall continue to deal solely and directly with such Lender in connection with the Loan Documents. Each Lender shall be solely
responsible for notifying its Participants of any matters under the Loan Documents, and Agent and the other Lenders shall not have any
obligation or liability to any such Participant. A Participant shall not be entitled to the benefits of Section 5.9 unless
Borrower Agent agrees otherwise in writing and such Participant shall not be entitled to receive any greater payment under Section 5.9
than its participating Lender would have been entitled to receive.

 

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13.2.2.            Voting
Rights. Each Lender shall retain the sole right to approve, without the consent of any Participant, any amendment, waiver or other
modification of a Loan Document other than that which forgives principal, interest or fees, reduces the stated interest rate or fees
payable with respect to any Loan or Commitment in which such Participant has an interest, postpones the Revolver Termination Date, the
FILO Termination Date, the Term Loan Maturity Date or any date fixed for any regularly scheduled payment of principal, interest or fees
on such Loan or Commitment, or releases any Borrower, Guarantor or substantially all Collateral.

 

13.2.3.            Participant
Register. Each Lender that sells a participation shall, acting as a non-fiduciary agent of Borrowers (solely for tax purposes), maintain
a register in which it enters the Participant's name, address and interest in Commitments, Loans (and stated interest) and LC Obligations.
Entries in the register shall be conclusive, absent manifest error, and such Lender shall treat each Person recorded in the register
as the owner of the participation for all purposes, notwithstanding any notice to the contrary. No Lender shall have an obligation to
disclose any information in such register except to the extent necessary to establish that a Participant's interest is in registered
form under the Code.

 

13.2.4.            Benefit
of Set-Off. Obligors agree that each Participant shall have a right of set-off in respect of its participating interest to the same
extent as if such interest were owing directly to a Lender, and each Lender shall also retain the right of set-off with respect to any
participating interests sold by it. By exercising any right of set-off, a Participant agrees to share with Lenders all amounts received
through its set-off, in accordance with Section 12.5 as if such Participant were a Lender.

 

13.3.            Assignments.

 

13.3.1.            Permitted
Assignments. A Lender may assign to an Eligible Assignee any of its rights and obligations under the Loan Documents, as long as (a) each
assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents
and, in the case of a partial assignment, is in a minimum principal amount of $10,000,000 (unless otherwise agreed by Agent in its discretion)
and integral multiples of $500,000 in excess of that amount; (b) except in the case of an assignment in whole of a Lender’s
rights and obligations, the aggregate amount of the Commitments retained by the transferor Lender is at least $10,000,000 (unless otherwise
agreed by Agent in its discretion); and (c) the parties to each such assignment shall execute and deliver to Agent, for its acceptance
and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the
Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however,
that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge or assignee for such
Lender as a party hereto.

 

13.3.2.            Effect;
Effective Date. Upon delivery to Agent of an assignment notice in the form of Exhibit B and a processing fee of $3,500
(unless otherwise agreed by Agent in its discretion), the assignment shall become effective as specified in the notice, if it complies
with this Section 13.3. From such effective date, the Eligible Assignee shall for all purposes be a Lender under the Loan
Documents, and shall have all rights and obligations of a Lender thereunder. Upon consummation of an assignment, the transferor Lender,
Agent and Borrowers shall make appropriate arrangements for issuance of replacement and/or new notes, if applicable. The transferee Lender
shall comply with Section 5.10 and deliver, upon request, an administrative questionnaire satisfactory to Agent.

 

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13.3.3.            Certain
Assignees. No assignment or participation may be made to an Obligor, Affiliate of an Obligor, Defaulting Lender or natural person.
Agent shall have no obligation to determine whether any assignee is permitted under the Loan Documents. Any assignment by a Defaulting
Lender shall be effective only upon payment by the Eligible Assignee or Defaulting Lender to Agent of an aggregate amount sufficient,
upon distribution (through direct payment, purchases of participations or other compensating actions as Agent deems appropriate), to
satisfy all funding and payment liabilities then owing by the Defaulting Lender hereunder. If an assignment by a Defaulting Lender shall
become effective under Applicable Law for any reason without compliance with the foregoing sentence, then the assignee shall be deemed
a Defaulting Lender for all purposes until such compliance occurs.

 

13.3.4.            Register.
Agent, acting as a non-fiduciary agent of Obligors (solely for tax purposes), shall maintain (a) a copy of each Assignment and Acceptance
delivered to it, and (b) a register for recordation of the names, addresses and Commitments of, and the Loans, interest and LC Obligations
owing to, each Lender. Entries in the register shall be conclusive, absent manifest error, and Obligors, Agent and Lenders shall treat
each lender recorded in such register as a Lender for all purposes under the Loan Documents, notwithstanding any notice to the contrary.
Agent may choose to show only one Borrower as the borrower in the register, without any effect on the liability of any Obligor with respect
to the Obligations. The register shall be available for inspection by Obligors or any Lender, from time to time upon reasonable notice.

 

13.4.            Replacement
of Certain Lenders. If a Lender (a) fails to give its consent to any amendment, waiver or action for which consent of all
Lenders was required and Required Lenders consented, or (b) is a Defaulting Lender, then, in addition to any other rights and remedies
that any Person may have, Agent or Borrower Agent may, by notice to such Lender within 120 days after such event, require such Lender
to assign all of its rights and obligations under the Loan Documents to Eligible Assignee(s), pursuant to appropriate Assignment and
Acceptance(s), within 20 days after the notice. Agent is irrevocably appointed as attorney-in-fact to execute any such Assignment and
Acceptance if the Lender fails to execute it. Such Lender shall be entitled to receive, in cash, concurrently with such assignment, all
amounts owed to it under the Loan Documents through the date of assignment.

 

Section 14.     THE
GUARANTEE

 

14.1.            Guarantee.
The Guarantors hereby guarantee to each Lender, the Issuing Bank and Agent and their respective successors and permitted assigns
the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Obligations. The Guarantors hereby
further agree that if the Borrowers shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any
of the obligations, the Guarantors will promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension
of time of payment or renewal of any of the obligations, the same will be promptly paid in full when due (whether at extended maturity,
by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 

14.2.            Obligations
Unconditional. The obligations of the Guarantors under Section 14.1 are absolute and unconditional irrespective of the value,
genuineness, validity, regularity or enforceability of this Agreement, the other Loan Documents or any other agreement or instrument
referred to herein or therein, or any substitution, release or exchange of any other guarantee of or security for any of the obligations,
and, to the fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever that might otherwise constitute
a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Section 14.2 that the obligations
of the Guarantors hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the
foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the Guarantors
hereunder, which shall remain absolute and unconditional as described above:

 

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(I)            AT
ANY TIME OR FROM TIME TO TIME, WITHOUT NOTICE TO SUCH GUARANTORS, THE TIME FOR ANY PERFORMANCE OF OR COMPLIANCE WITH ANY OF THE OBLIGATIONS
SHALL BE EXTENDED, OR SUCH PERFORMANCE OR COMPLIANCE SHALL BE WAIVED;

 

(II)            ANY
OF THE ACTS MENTIONED IN ANY OF THE PROVISIONS HEREOF OR OF THE OTHER LOAN DOCUMENTS OR ANY OTHER AGREEMENT OR INSTRUMENT REFERRED TO
HEREIN OR THEREIN SHALL BE DONE OR OMITTED;

 

(III)            THE
MATURITY OF ANY OF THE OBLIGATIONS SHALL BE ACCELERATED, OR ANY OF THE OBLIGATIONS SHALL BE MODIFIED, SUPPLEMENTED OR AMENDED IN ANY
RESPECT, OR ANY RIGHT HEREUNDER OR UNDER THE OTHER LOAN DOCUMENTS OR ANY OTHER AGREEMENT OR INSTRUMENT REFERRED TO HEREIN OR THEREIN
SHALL BE WAIVED OR ANY OTHER GUARANTEE OF ANY OF THE OBLIGATIONS OR ANY SECURITY THEREFOR SHALL BE RELEASED OR EXCHANGED IN WHOLE OR
IN PART OR OTHERWISE DEALT WITH; OR

 

(IV)            ANY
LIEN OR SECURITY INTEREST GRANTED TO, OR IN FAVOR OF, AGENT, THE ISSUING BANK OR ANY LENDER OR LENDERS AS SECURITY FOR ANY OF THE OBLIGATIONS
SHALL FAIL TO BE PERFECTED.

 

EACH
GUARANTOR HEREBY EXPRESSLY WAIVES DILIGENCE, PRESENTMENT, DEMAND OF PAYMENT, PROTEST AND ALL NOTICES WHATSOEVER, AND ANY REQUIREMENT
THAT AGENT, THE ISSUING BANK OR ANY LENDER EXHAUST ANY RIGHT, POWER OR REMEDY OR PROCEED AGAINST BORROWERS OR ANY OTHER GUARANTOR HEREUNDER
OR UNDER THE OTHER LOAN DOCUMENTS OR ANY OTHER AGREEMENT OR INSTRUMENT REFERRED TO HEREIN OR THEREIN, OR AGAINST ANY OTHER PERSON UNDER
ANY OTHER GUARANTEE OF, OR SECURITY FOR, ANY OF THE OBLIGATIONS, AND HEREBY WAIVE THE BENEFITS OF DIVISION AND DISCUSSION.

 

14.3.            Reinstatement.
The obligations of the Guarantors under this Section 14 shall be automatically reinstated if and to the extent that for
any reason any payment by or on behalf of any Borrower in respect of the Obligations is rescinded or must be otherwise restored by any
holder of any of the Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, and each Guarantor
agrees that it will indemnify Agent, the Issuing Bank and each Lender on demand for all reasonable costs and expenses (including fees
and expenses of counsel) incurred by Agent, any Lender or the Issuing Bank in connection with such rescission or restoration, including
any such costs and expenses incurred in defending against any claim alleging that such payment constituted a preference, fraudulent transfer
or similar payment under any bankruptcy, insolvency or similar law.

 

14.4.            Subrogation.
Until Full Payment of the Obligations, each of the Guarantors hereby waives all rights of subrogation or contribution, whether arising
by contract or operation of law (including, without limitation, any such right arising under the bankruptcy code, as amended) or otherwise
by reason of any payment by it pursuant to the provisions of this Section 14 and further agrees with each Borrower for the
benefit of each creditor of such Borrower (including Agent, the Issuing Bank and each Lender) that any such payment by it shall constitute
a contribution of capital by such Guarantor to such Borrower.

 

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14.5.            Remedies.
The Guarantors agree that, as between the Guarantors and the Lenders, the Obligations of Borrowers hereunder may be declared to be
forthwith due and payable as provided in Section 11.2 (and shall be deemed to have become automatically due and payable in
the circumstances provided in Section 11.2) for purposes of Section 14.1 notwithstanding any stay, injunction
or other prohibition preventing such declaration (or such obligations from becoming automatically due and payable) as against Borrowers
and that, in the event of such declaration (or such obligations being deemed to have become automatically due and payable), such Obligations
(whether or not due and payable by Borrowers) shall forthwith become due and payable by the Guarantor for purposes of, and, in the case
of the Canadian Guarantors, subject to the limitations set forth in, Section 14.1.

 

14.6.            Instrument
for the Payment of Money. Each of the Guarantors hereby acknowledges that the guarantee in this Section 14 constitutes
an instrument for the payment of money only, and consents and agrees that Agent, the Issuing Bank, or any Lender, at its sole option,
in the event of a dispute by such Guarantor in the payment of any moneys due hereunder, shall have the right to summary judgment or such
other expedited procedure as may be available for a suit on a note or other instrument for the payment of money only.

 

14.7.            Continuing
Guarantee. The guarantee in this Section 14 is a continuing guarantee and shall apply to all Obligations whenever
arising.

 

14.8.            General
Limitation on Amount of Obligations Guaranteed. In any action or proceeding involving any state or non-U.S. corporate law, or
any state or federal or non-U.S. bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if
the obligations of the Guarantors under Section 14.1 would otherwise be held or determined to be void, invalid or unenforceable,
or subordinated to the claims of any other creditors, on account of the amount of its liability under Section 14.1, then,
notwithstanding any other provision hereof to the contrary, the amount of such liability shall, without any further action by the Guarantors,
any Lender, Agent or other Person, be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated
to the claims of other creditors as determined in such action or proceeding.

 

14.9.            Joint
Enterprise. Each Guarantor acknowledges that (a) the Obligors’ business is a mutual and collective enterprise, and
the successful operation of each Obligor is dependent upon the successful performance of the integrated group and (b) such Guarantor
shall derive direct and indirect economic and other benefits from the establishment by the Secured Parties of the credit facility under
this Agreement in favor of Borrowers.

 

14.10.            Subordination.
Each Borrower and each Guarantor hereby subordinates any claims, including any right of payment, subrogation, contribution and indemnity
that it may have at any time against any other Obligor, howsoever arising, to the Full Payment of the Obligations.

 

14.11.            Conflicts
with Canadian Guaranty or UK Guaranty. In the event that any of the terms of this Section 14 conflict with (i) the
Canadian Guaranty as they relate to the Canadian Guarantors and/or (ii) the UK Guaranty as they relate to the UK Guarantors, the
terms of the Canadian Guaranty and/or the UK Guaranty (as applicable) shall control.

 

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Section 15.     MISCELLANEOUS

 

15.1.            Consents,
Amendments and Waivers.

 

15.1.1.            Amendment.
No modification of any Loan Document, including any extension or amendment of a Loan Document or any waiver of a Default or Event of
Default, shall be effective without the prior written agreement of Agent (with the consent of Required Lenders) and each Obligor party
to such Loan Document; provided, however, that

 

(a)            without
the prior written consent of Agent, no modification shall be effective with respect to any provision in a Loan Document that relates
to any rights, duties or discretion of Agent;

 

(b)            without
the prior written consent of Issuing Bank, no modification shall be effective with respect to any LC Obligations, Section 2.3
or any other provision in a Loan Document that relates to any rights, duties or discretion of Issuing Bank;

 

(c)            without
the prior written consent of each affected Lender, including a Defaulting Lender, no modification shall be effective that would (i) increase
the Commitment of such Lender; (ii) reduce the amount of, or waive or delay payment of, any principal, interest or fees payable
to such Lender (except as provided in Section 4.2); (iii) extend the Revolver Termination Date, the FILO Termination
Date or the Term Loan Maturity Date applicable to such Lender’s Obligations; or (iv) amend this clause (c);

 

(d)            without
the prior written consent of all Lenders having Revolver Commitments (or if the Revolver Commitments have terminated, all Lenders having
outstanding Revolver Loans), amend the definition of the term “Revolver Borrowing Base” (or any defined term used in the
definition of “Revolver Borrowing Base”, provided that the Agent may in its Permitted Discretion, without the necessity of
obtaining the consent of any Lender, increase or decrease the amount of the Availability Reserve, or increase, decrease, add or eliminate
any of the components thereof, or reduce the percentages used in the definitions of Accounts Formula Amount and Inventory Formula Amount);

 

(e)            without
the prior written consent of all Lenders having FILO Commitments (or if the FILO Commitments have terminated, all Lenders having outstanding
FILO Loans), amend the definition of the term “FILO Borrowing Base” (or any defined term used in the definition of “FILO
Borrowing Base”, provided that the Agent may in its Permitted Discretion, without the necessity of obtaining the consent of any
Lender, reduce the Applicable FILO Account Advance Percentage and/or the Applicable FILO Inventory Advance Percentage);

 

(f)            without
the prior written consent of all Lenders (except any Defaulting Lender), no modification shall be effective that would (i) alter
Sections 5.6.2, 7.1 (except to add Collateral) or 15.1.1; (ii) amend the definitions of the terms “Applicable Percentage”
or “Required Lenders”; (iii) release all or substantially all of the Collateral; (iv) subordinate the Liens in
favor of Agent securing the Obligations to Liens in favor of any other Person (other than (x) Purchase Money Liens securing Permitted
Purchase Money Debt, and (y) Liens securing obligations with respect to Capital Leases permitted by Section 10.2.1(b), which
Liens do not cover more than the property subject to the applicable Capital Leases); or (v) except in connection with a merger,
amalgamation, disposition or similar transaction expressly permitted hereby, release any Obligor from liability for any Obligations;
and

 

(g)            without
the prior written consent of a Secured Bank Product Provider, no modification shall be effective that affects its relative payment priority
under Section 5.6.2.

 

15.1.2.            Limitations.
The agreement of Obligors shall not be necessary to the effectiveness of any modification of a Loan Document that deals solely with the
rights and duties of Lenders, Agent and/or Issuing Bank as among themselves. Only the consent of the parties to any agreement relating
to fees or a Bank Product shall be required for modification of such agreement, and no Bank Product provider (in such capacity) shall
have any right to consent to modification of any Loan Document other than its Bank Product agreement. Any waiver or consent granted by
Agent or Lenders hereunder shall be effective only if in writing and only for the matter specified.

 

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15.1.3.            Payment
for Consents. No Obligor will, directly or indirectly, pay any remuneration or other thing of value, whether by way of additional
interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with
any modification of any Loan Documents, unless such remuneration or value is concurrently paid, on the same terms, to all Lenders providing
their consent, in accordance with each such Lender’s Applicable Percentage.

 

15.2.            Indemnity.
EACH OBLIGOR SHALL INDEMNIFY AND HOLD HARMLESS THE INDEMNITEES AGAINST ANY CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY
INDEMNITEE, INCLUDING CLAIMS ASSERTED BY ANY OTHER OBLIGOR OR OTHER PERSON OR ARISING FROM THE NEGLIGENCE OF AN INDEMNITEE.
In no event shall any party to a Loan Document have any obligation thereunder to indemnify or hold harmless an Indemnitee with respect
to a Claim that is determined in a final, non-appealable judgment by a court of competent jurisdiction to result from the gross negligence
or willful misconduct of such Indemnitee.

 

15.3.            Notices
and Communications.

 

(a)            Notice
Address. Subject to Section 4.1.4, all notices and other communications by or to a party hereto shall be in writing and
shall be given to any Obligor, at Borrower Agent’s address shown on the signature pages hereof, and to any other Person at
its address shown on the signature pages hereof (or, in the case of a Person who becomes a Lender after the Restatement Date, at
the address shown on its Assignment and Acceptance), or at such other address as a party may hereafter specify by notice in accordance
with this Section 14.3. Each communication shall be effective only (a) if given by facsimile transmission, when transmitted
to the applicable facsimile number, if confirmation of receipt is received; (b) if given by mail, three Business Days after deposit
in the U.S. mail, with first-class postage pre-paid, addressed to the applicable address; or (c) if given by personal delivery,
when duly delivered to the notice address with receipt acknowledged. Notwithstanding the foregoing, no notice to Agent pursuant to Section 2.1.4,
2.3, 3.1.2, 4.1.1 or 5.3.3 shall be effective until actually received by the individual to whose attention at Agent such notice
is required to be sent. Any written communication that is not sent in conformity with the foregoing provisions shall nevertheless be
effective on the date actually received by the noticed party. Any notice received by Borrower Agent shall be deemed received by all Obligors.

 

(b)            Electronic
Communications; Voice Mail. Any Loan Document, Borrower Materials and other information, notice, certificate, request, statement,
disclosure or authorization related to this Agreement (collectively, “Communications”), including Communications required
to be in writing, may, if agreed by the Bank, be in the form of an Electronic Record and may be executed using Electronic Signatures.
An Electronic Signature on or associated with a Communication shall be valid and binding on each Obligor and other party thereto to the
same extent as a manual, original signature, and any Communication entered into by Electronic Signature shall constitute their legal,
valid and binding obligations, enforceable to the same extent as if a manually executed original signature were delivered to the Bank.
Any Communication may be executed in as many counterparts as necessary or convenient, including both paper and electronic counterparts,
but all such counterparts are one and the same Communication. The parties may use or accept manually signed paper Communications converted
to electronic form (such as scanned into PDF), or electronically signed Communications converted into other formats, for transmission,
delivery and/or retention. Agent and Lenders may, at their option, create one or more copies of any Communication in the form of an imaged
Electronic Record (“Electronic Copy”), which shall be deemed created in the ordinary course of the Person’s
business, and destroy the original paper document. All Communications in the form of an Electronic Record, including an Electronic Copy,
shall be considered an original for all purposes, and shall have the same legal effect, validity and enforceability as a paper record.
Notwithstanding anything herein, Agent is under no obligation to accept an Electronic Signature in any form or in any format unless expressly
agreed by it pursuant to procedures approved by it; provided (a) if Agent has agreed to accept such Electronic Signature, Agent
and each Secured Party shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf of an Obligor without
further verification; and (b) upon the request by Agent or any Secured Party, an Electronic Signature shall be promptly followed
by a manually executed counterpart. “Electronic Record” and “Electronic Signature” are used herein
as defined in by 15 USC §7006. Voice mail may not be used as effective notice under the Loan Documents.

 

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(c)            Platform.
Borrower Materials shall be delivered pursuant to procedures approved by Agent, including electronic delivery (if possible) upon request
by Agent to an electronic system maintained by Agent (“Platform”). Borrowers shall notify Agent of each posting of
Borrower Materials on the Platform and the materials shall be deemed received by Agent only upon its receipt of such notice. Borrower
Materials and other information relating to this credit facility may be made available to Secured Parties on the Platform. The Platform
is provided “as is” and “as available.” Agent does not warrant the accuracy or completeness of any information
on the Platform nor the adequacy or functioning of the Platform, and expressly disclaims liability for any errors or omissions in the
Borrower Materials or any issues involving the Platform. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING
ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS, OR FREEDOM FROM VIRUSES OR
OTHER CODE DEFECTS, IS MADE BY AGENT WITH RESPECT TO BORROWER MATERIALS OR THE PLATFORM. Lenders acknowledge that Borrower Materials
may include material non-public information of Obligors and should not be made available to any personnel who do not wish to receive
such information or who may be engaged in investment or other market-related activities with respect to any Obligor’s securities.
No Agent Indemnitee shall have any liability to Borrowers, Secured Parties or any other Person for losses, claims, damages, liabilities
or expenses of any kind (whether in tort, contract or otherwise) relating to use by any Person of the Platform or delivery of Borrower
Materials and other information through the Platform.

 

(d)            Non-Conforming
Communications. Agent and Lenders may rely upon any communications purportedly given by or on behalf of any Obligor even if they
were not made in a manner specified herein, were incomplete or were not confirmed, or if the terms thereof, as understood by the recipient,
varied from a later confirmation. Each Obligor shall indemnify and hold harmless each Indemnitee from any liabilities, losses, costs
and expenses arising from any electronic or telephonic communication purportedly given by or on behalf of an Obligor.

 

15.4.            Performance
of Obligors’ Obligations. Agent may, in its discretion at any time and from time to time, at Obligors’ expense, pay
any amount or do any act required of an Obligor under any Loan Documents or otherwise lawfully requested by Agent to (a) enforce
any Loan Documents or collect any Obligations; (b) protect, insure, maintain or realize upon any Collateral; or (c) defend
or maintain the validity or priority of Agent’s Liens in any Collateral, including any payment of a judgment, insurance premium,
warehouse charge, finishing or processing charge, or landlord claim, or any discharge of a Lien. All payments, costs and expenses (including
Extraordinary Expenses) of Agent under this Section shall be reimbursed to Agent by Borrowers, on demand, with interest from
the date incurred until paid in full, at the Default Rate applicable to Base Rate FILO Loans. Any payment made or action taken by Agent
under this Section shall be without prejudice to any right to assert an Event of Default or to exercise any other rights or remedies
under the Loan Documents.

 

15.5.            Credit
Inquiries. Agent and Lenders may (but shall have no obligation) to respond to usual and customary credit inquiries from third
parties concerning any Obligor or Subsidiary.

 

15.6.            Severability.
Wherever possible, each provision of the Loan Documents shall be interpreted in such manner as to be valid under Applicable Law.
If any provision is found to be invalid under Applicable Law, it shall be ineffective only to the extent of such invalidity and the remaining
provisions of the Loan Documents shall remain in full force and effect.

 

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15.7.            Cumulative
Effect; Conflict of Terms. The provisions of the Loan Documents are cumulative. The parties acknowledge that the Loan Documents
may use several limitations or measurements to regulate similar matters, and they agree that these are cumulative and that each must
be performed as provided. Except as otherwise provided in another Loan Document (by specific reference to the applicable provision of
this Agreement), if any provision contained herein is in direct conflict with any provision in another Loan Document, the provision herein
shall govern and control.

 

15.8.            Counterparts.
Any Loan Document may be executed in counterparts, each of which shall constitute an original, but all of which when taken together
shall constitute a single contract. This Agreement shall become effective when Agent has received counterparts bearing the signatures
of all parties hereto. Subject to the provisions of Section 15.3, Agent may (but shall have no obligation to) accept any
signature, contract formation or record-keeping through electronic means, which shall have the same legal validity and enforceability
as manual or paper-based methods, to the fullest extent permitted by Applicable Law, including the Federal Electronic Signatures in Global
and National Commerce Act, the New York State Electronic Signatures and Records Act, or any similar state law based on the Uniform Electronic
Transactions Act.

 

15.9.            Entire
Agreement. Time is of the essence with respect to all Loan Documents and Obligations. The Loan Documents constitute the entire
agreement, and supersede all prior understandings and agreements, among the parties relating to the subject matter thereof.

 

15.10.            Relationship
with Lenders. The obligations of each Lender hereunder are several, and no Lender shall be responsible for the obligations or
Commitments of any other Lender. Amounts payable hereunder to each Lender shall be a separate and independent debt. It shall not be necessary
for Agent or any other Lender to be joined as an additional party in any proceeding for such purposes. Nothing in this Agreement and
no action of Agent, Lenders or any other Secured Party pursuant to the Loan Documents or otherwise shall be deemed to constitute Agent
and any Secured Party to be a partnership, joint venture or similar arrangement, nor to constitute control of any Obligor.

 

15.11.            No
Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated by any Loan Document, Obligors
acknowledge and agree that (a)(i) this credit facility and any related arranging or other services by Agent, any Lender, any of
their Affiliates or any arranger are arm’s-length commercial transactions between Obligors and such Person; (ii) Obligors
have consulted their own legal, accounting, regulatory and tax advisors to the extent they have deemed appropriate; and (iii) Obligors
are capable of evaluating, and understand and accept, the terms, risks and conditions of the transactions contemplated by the Loan Documents;
(b) each of Agent, Lenders, their Affiliates and any arranger is and has been acting solely as a principal and, except as expressly
agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for Obligors,
any of their Affiliates or any other Person, and has no obligation with respect to the transactions contemplated by the Loan Documents
except as expressly set forth therein; and (c) Agent, Lenders, their Affiliates and any arranger may be engaged in a broad range
of transactions that involve interests that differ from those of Obligors and their Affiliates, and have no obligation to disclose any
of such interests to Obligors or their Affiliates. To the fullest extent permitted by Applicable Law, each Obligor hereby waives and
releases any claims that it may have against Agent, Lenders, their Affiliates and any arranger with respect to any breach of agency or
fiduciary duty in connection with any transaction contemplated by a Loan Document.

 

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15.12.            Confidentiality.
Each of Agent, Lenders and Issuing Bank shall maintain the confidentiality of all Information (as defined below), except that Information
may be disclosed (a) to its Affiliates, and to its and their partners, directors, officers, employees, agents, advisors and representatives
(provided such Persons are informed of the confidential nature of the Information and instructed to keep it confidential); (b) to
the extent requested by any governmental, regulatory or self-regulatory authority purporting to have jurisdiction over it or its Affiliates;
(c) to the extent required by Applicable Law or by any subpoena or other legal process; (d) to any other party hereto; (e) in
connection with any action or proceeding relating to any Loan Documents or Obligations; (f) subject to an agreement containing provisions
substantially the same as this Section, to any Transferee or any actual or prospective party (or its advisors) to any Bank Product or
to any swap, derivative or other transaction under which payments are to be made by reference to an Obligor or Obligor's obligations;
(g) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section or
(ii) is available to Agent, any Lender, Issuing Bank or any of their Affiliates on a nonconfidential basis from a source other
than Borrowers; (h) on a confidential basis to a provider of a Platform; or (i) with the consent of Borrower Agent. Notwithstanding
the foregoing, Agent and Lenders may publish or disseminate general information concerning this credit facility for league table, tombstone
and advertising purposes, and may use Obligors’ logos, trademarks or product photographs in advertising materials. As used herein,
 “Information” means all information received from an Obligor or Subsidiary relating to it or its business that is
identified as confidential when delivered. Any Person required to maintain the confidentiality of Information pursuant to this Section shall
be deemed to have complied with this Section if such Person exercises a degree of care similar to that which such Person accords
its own confidential information. Each of Agent, Lenders and Issuing Bank acknowledges that (i) Information may include material
non-public information; (ii) it has developed compliance procedures regarding the use of material non-public information; and (iii) it
will handle such material non-public information in accordance with Applicable Law.

 

15.13.            GOVERNING
LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, UNLESS OTHERWISE SPECIFIED, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK,
WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS).

 

15.14.     Consent
to Forum.     EACH OBLIGOR HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL OR STATE
COURT SITTING IN OR WITH JURISDICTION OVER NEW YORK, IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND
AGREES THAT ANY SUCH PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH OBLIGOR IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS
AND DEFENSES THAT IT MAY HAVE REGARDING SUCH COURT’S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM.
EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 14.3.1. Nothing herein
shall limit the right of Agent or any Lender to bring proceedings against any Obligor in any other court, nor limit the right of any
party to serve process in any other manner permitted by Applicable Law. Nothing in this Agreement shall be deemed to preclude enforcement
by Agent of any judgment or order obtained in any forum or jurisdiction.

 

15.15.            Waivers
by Obligors. To the fullest extent permitted by Applicable Law, each Obligor waives (a) the right to trial by jury (which
Agent and each Lender hereby also waives) in any proceeding or dispute of any kind relating in any way to any Loan Documents, Obligations
or Collateral; (b) presentment, demand, protest, notice of presentment, default, non-payment, maturity, release, compromise, settlement,
extension or renewal of any commercial paper, accounts, documents, instruments, chattel paper and guaranties at any time held by Agent
on which an Obligor may in any way be liable, and hereby ratifies anything Agent may do in this regard; (c) notice prior to taking
possession or control of any Collateral; (d) any bond or security that might be required by a court prior to allowing Agent to exercise
any rights or remedies; (e) the benefit of all valuation, appraisement and exemption laws; (f) any claim against Agent, Issuing
Bank or any Lender, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct
or actual damages) in any way relating to any Enforcement Action, Obligations, Loan Documents or transactions relating thereto; and (g) notice
of acceptance hereof. Each Obligor acknowledges that the foregoing waivers are a material inducement to Agent, Issuing Bank
and Lenders entering into this Agreement and that they are relying upon the foregoing in their dealings with Obligors. Each Obligor has
reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial and other 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.

 

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15.16.     Patriot
Act Notice.

 

15.16.1.          Agent and Lenders hereby notify Obligors
that pursuant to the Patriot Act, Agent and Lenders are required to obtain, verify and record information that identifies each Obligor,
including its legal name, address, tax ID number and other information that will allow Agent and Lenders to identify it in accordance
with the Patriot Act. Agent and Lenders will also require information regarding each personal guarantor, if any, and may require information
regarding Obligors’ management and owners, such as legal name, address, social security number and date of birth. Borrowers shall,
promptly upon request, provide all documentation and other information as Agent, Issuing Bank or any Lender may request from time
to time in order to comply with any obligations under any "know your customer," anti-money laundering or other requirements
of Applicable Law.

 

15.16.2.          If
(a) the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation made
after the date of this Agreement; (b) any change in the status of a UK Guarantor after the date of this Agreement; (c) a proposed
assignment or transfer by a Lender of any of its rights and obligations under this Agreement to a party that is not a Lender prior to
such assignment or transfer; or (d) any law, regulation, applicable market guidance or internal policy in relation to the period
review and/or updating of customer information obliges the Agent or any Lender (or, in the case of paragraph (c) above, any prospective
new Lender) to comply with “know your customer” or similar identification procedures in circumstances where the necessary
information is not already available to it, each UK Guarantor shall promptly upon the request of the Agent or any Lender supply, or procure
the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender)
or any Lender (for itself or, in the case of the event described in paragraph (c) above, on behalf of any prospective new Lender)
in order for the Agent, such Lender or, in the case of the event described in paragraph (c) above, any prospective new Lender to
carry out and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable
laws and regulations pursuant to the transactions contemplated in the Loan Documents.

 

15.16.3.          Each
Lender shall promptly upon the request of the supply, or procure the supply of, such documentation and other evidence as is reasonably
requested by the Agent (for itself) in order for the Agent to carry out and be satisfied it has complied with all necessary “know
your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the
Loan Documents.

 

15.17.            Canadian
Anti-Money Laundering Legislation.

 

(a)            Each
Obligor acknowledges that, pursuant to the Proceeds of Crime Act and other applicable anti-money laundering, anti-terrorist financing,
government sanction and “know your client” laws (collectively, including any guidelines or orders thereunder, “AML
Legislation”), the Lenders may be required to obtain, verify and record information regarding the Obligors and their respective
directors, authorized signing officers, direct or indirect shareholders or other Persons in control of the Obligors, and the transactions
contemplated hereby. Each Obligor shall promptly provide all such information, including supporting documentation and other evidence,
as may be reasonably requested by any Lender or any prospective assignee or participant of a Lender, any Issuing Bank or any Agent, in
order to comply with any applicable AML Legislation, whether now or hereafter in existence.

 

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(b)            If
the Agent has ascertained the identity of any Obligor or any authorized signatories of the Obligors for the purposes of applicable AML
Legislation, then the Agent:

 

(i)            shall
be deemed to have done so as an agent for each Lender, and this Agreement shall constitute a “written agreement” in such
regard between each Lender and the Agent within the meaning of the applicable AML Legislation; and

 

(ii)            shall
provide to each Lender copies of all information obtained in such regard without any representation or warranty as to its accuracy or
completeness.

 

Notwithstanding the preceding sentence and except
as may otherwise be agreed in writing, each of the Lenders agrees that neither the Agent nor any other Agent has any obligation to ascertain
the identity of the Obligors or any authorized signatories of the Obligors on behalf of any Lender, or to confirm the completeness or
accuracy of any information it obtains from any Obligor or any such authorized signatory in doing so.

 

15.18.            Continued
Effectiveness; No Novation. Notwithstanding anything contained herein, the terms of this Agreement are not intended to and do
not serve to effect a novation of the obligations, liabilities or indebtedness of Obligors under the Existing Credit Agreement. Instead,
it is the express intention of the parties hereto to reaffirm, amend and restate the obligations, liabilities and indebtedness of Obligors
created under or otherwise evidenced by the Existing Credit Agreement. All revolver loans outstanding under, the Existing Credit Agreement
as of the Restatement Date shall automatically be deemed to constitute FILO Loans and Revolver Loans under this Agreement (as more fully
described in Section 2.1.1). Obligors acknowledge and confirm that the liens and security interests granted by Obligors to
Agent and Lenders under the Existing Credit Agreement remain in full force and effect and continue to secure all obligations, liabilities
and indebtedness of Obligors under this Agreement. The term “Obligations” used in this Agreement and in the other Loan Documents
(or any other term used herein or therein to describe or refer to the obligations, liabilities and indebtedness of the Obligors) describes
and refers to all obligations, liabilities and indebtedness of Obligors under this Agreement and under the Existing Credit Agreement,
as amended and restated hereby, as the same had been previously amended, modified, supplemented or restated prior to the date hereof
and as the same may be further amended, modified, supplemented or restated from time to time. The Loan Documents and all agreements,
documents and instruments executed and delivered in connection with any of the foregoing shall each be deemed to be amended to the extent
necessary to give effect to the provisions of this Agreement. Cross-references in the Loan Documents to particular section or subsection
numbers in the Existing Credit Agreement shall be deemed to be cross-references to the corresponding sections or subsections, as applicable,
of this Agreement.

 

15.19.            Acknowledgement
and Consent to Bail-In of Affected Financial Institutions. Notwithstanding any provision to the contrary set forth in this Agreement,
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 Lender that is an Affected 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 Affected Resolution Authority and agrees and consents to, and
acknowledges and agrees to be bound by:

 

(a)            the
application of any Write-Down and Conversion Powers by an Affected Resolution Authority to any such liabilities arising hereunder which
may be payable to it by any Lender that is an Affected 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 Affected 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.

 

    -117-

     

    

 

15.20.            [Reserved].

 

15.21.            Acknowledgement
Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any
Hedging Agreement 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):

 

(a)            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.

 

(b)            As
used in this Section 15.21, the following terms have the following meanings:

 

“BHC Act
Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with,
12 U.S.C. 1841(k)) of such party.

 

“Covered
Entity” means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in
accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance
with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with,
12 C.F.R. § 382.2(b).

 

    -118-

     

    

 

“Default
Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81,
47.2 or 382.1, as applicable.

 

“QFC”
has 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).

 

[Remainder of page intentionally
left blank; signatures begin on following page]

 

    -119-

     

    

 

IN WITNESS WHEREOF,
this Agreement has been executed and delivered as of the date set forth above.

 

	 	BORROWERS:
	 	 
	 	SUMMER
    INFANT, INC.
	 	 
	 	By:	 
	 	Title:	 
	 	Address:
	 	 	1275 Park East Drive
	 	 	Woonsocket, Rhode Island
    02895
	 	 	Attn: Ed Schwartz
	 	 	Telephone: 401-671-6572
	 	 	Email: eschwartz@sumrbrands.com
	 	 
	 	SUMMER
    INFANT (USA), INC. 
	 	 
	 	 
	 	By:	 
	 	Title:	 
	 	Address:
	 	 	1275 Park East Drive
	 	 	Woonsocket, Rhode Island
    02895
	 	 	Attn: Ed Schwartz
	 	 	Telephone: 401-671-6572
	 	 	Email: eschwartz@sumrbrands.com

 

[Signature Page to Third Amended and Restated
Loan and Security Agreement]

 

     

     

    

 

	 	GUARANTORS:
	 	 
	 	SUMMER
    INFANT CANADA, LIMITED
	 	 
	 	By:	 
	 	Title:	 
	 	Address:	 
	 	 	1275 Park East Drive
	 	 	Woonsocket, Rhode Island
    02895
	 	 	Attn: Ed Schwartz
	 	 	Telephone: 401-671-6572
	 	 	Email: eschwartz@sumrbrands.com
	 	 
	 	 
	 	SUMMER
    INFANT EUROPE LIMITED
	 	 
	 	By:	 
	 	Title:	 
	 	Address:	 
	 	 	1275 Park East Drive
	 	 	Woonsocket, Rhode Island
    02895
	 	 	Attn: Ed Schwartz
	 	 	Telephone: 401-671-6572
	 	 	Email: eschwartz@sumrbrands.com

  

[Signature Page to Third Amended and Restated
Loan and Security Agreement]

 

     

     

    

 

	 	AGENT:
	 	 
	 	BANK
    OF AMERICA, N.A., as Agent
	 	 
	 	By:	 
	 	Title:	 
	 	Address:	 
	 	 	Bank of America, N.A.
	 	 	Mail Code: CT2-500-35-02
	 	 	Cityplace 1, 185 Asylum
    Street
	 	 	Hartford, CT 06103
	 	 	Attn: Cynthia Stannard,
    SVP
	 	 	Telecopy: 860-952-6830
	 	 	Telephone: 860-952-6827
	 	 	Email: cynthia.stannard@baml.com
	 	 
	 	LENDER:
	 	 
	 	BANK
    OF AMERICA, N.A., as Lender
	 	 
	 	By:	 
	 	Title:	 
	 	Address:	 
	 	 	Bank of America, N.A.
	 	 	Mail Code: CT2-500-35-02
	 	 	Cityplace 1, 185 Asylum
    Street
	 	 	Hartford, CT 06103
	 	 	Attn: Cynthia Stannard,
    SVP
	 	 	Telecopy: 860-952-6830
	 	 	Telephone: 860-952-6827
	 	 	Email: Cynthia.stannard@baml.com

 

[Signature Page to Third Amended and Restated
Loan and Security Agreement]

 

     

     

    

 

Exhibit A

to

Third Amended and Restated Loan and Security Agreement

 

ASSIGNMENT AND ACCEPTANCE

 

Reference is made to the
Third Amended and Restated Loan and Security Agreement dated as of October 15, 2020, as amended (“Loan Agreement”),
among SUMMER INFANT, INC., and SUMMER INFANT (USA), INC. (collectively, “Borrowers”), the
Guarantors party thereto from time to time, BANK OF AMERICA, N.A., as agent (“Agent”) for the financial institutions
from time to time party to the Loan Agreement (“Lenders”), and such Lenders. Terms are used herein as defined in the
Loan Agreement.

 

______________________________________
(“Assignor”) and _________________________ _____________ (“Assignee”) agree as follows:

 

1.            Assignor
hereby assigns to Assignee and Assignee hereby purchases and assumes from Assignor (a) a principal amount of $________ of Assignor’s
outstanding Revolver Loans and $___________ of Assignor’s participations in LC Obligations, (b) the amount of $__________
of Assignor’s Revolver Commitment (which represents ____% of the total Revolver Commitments), (c) a principal amount of $________
of Assignor’s outstanding FILO Loans, (d) the amount of $__________ of Assignor’s FILO Commitment (which represents
____% of the total FILO Commitments), and (e) a principal amount of $__________ of Assignor’s outstanding Term Loan (the foregoing
items being, collectively, the “Assigned Interest”), together with an interest in the Loan Documents corresponding
to the Assigned Interest. This Agreement shall be effective as of the date (“Effective Date”) indicated in the corresponding
Assignment Notice delivered to Agent, provided such Assignment Notice is executed by Assignor, Assignee, Agent and Borrower Agent, if
applicable. From and after the Effective Date, Assignee hereby expressly assumes, and undertakes to perform, all of Assignor’s
obligations in respect of the Assigned Interest, and all principal, interest, fees and other amounts which would otherwise be payable
to or for Assignor’s account in respect of the Assigned Interest shall be payable to or for Assignee’s account, to the extent
such amounts accrue on or after the Effective Date.

 

2.            Assignor
(a) represents that as of the date hereof, prior to giving effect to this assignment, its Revolver Commitment is $__________, the
outstanding balance of its Revolver Loans and participations in LC Obligations is $__________, its FILO Commitment is $__________, the
outstanding balance of its FILO Loans is $_______________, and the outstanding balance of its Term Loans is $__________; (b) makes
no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or
in connection with the Loan Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the
Loan Agreement or any other instrument or document furnished pursuant thereto, other than that Assignor is the legal and beneficial owner
of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim; and (c) makes no representation
or warranty and assumes no responsibility with respect to the financial condition of Borrowers or the performance by Borrowers of their
obligations under the Loan Documents. [Assignor is attaching the Note[s] held by it and requests that Agent exchange such Note[s]
for new Notes payable to Assignee [and Assignor].]

 

3.            Assignee
(a) represents and warrants that it is legally authorized to enter into this Assignment and Acceptance; (b) confirms that it
has received copies of the Loan Agreement and such other Loan Documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment and Acceptance; (c) agrees that it shall, independently and without reliance
upon Assignor and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions
in taking or not taking action under the Loan Documents; (d) confirms that it is an Eligible Assignee; (e) appoints and authorizes
Agent to take such action as agent on its behalf and to exercise such powers under the Loan Agreement as are delegated to Agent by the
terms thereof, together with such powers as are incidental thereto; (f) agrees that it will observe and perform all obligations
that are required to be performed by it as a “Lender” under the Loan Documents; and (g) represents and warrants that
the assignment evidenced hereby will not result in a non-exempt “prohibited transaction” under Section 406 of ERISA.

 

    A1

     

    

 

4.            This
Agreement shall be governed by the laws of the State of New York. If any provision is found to be invalid under Applicable Law, it shall
be ineffective only to the extent of such invalidity and the remaining provisions of this Agreement shall remain in full force and effect.

 

5.            Each
notice or other communication hereunder shall be in writing, shall be sent by messenger, by telecopy or facsimile transmission, or by
first-class mail, shall be deemed given when sent and shall be sent as follows:

 

		(a)	If to Assignee, to the following address
                                            (or to such other address as Assignee may designate from time to time):

 

__________________________

 

__________________________

 

__________________________

 

		(b)	If to Assignor, to the following address
                                            (or to such other address as Assignor may designate from time to time):

 

__________________________

 

__________________________

 

__________________________

 

__________________________

 

Payments hereunder shall
be made by wire transfer of immediately available Dollars as follows:

 

If to Assignee, to the following
account (or to such other account as Assignee may designate from time to time):

 

______________________________

 

______________________________

 

ABA No._______________________

 

______________________________

 

Account No.____________________

 

Reference: _____________________

 

If to Assignor, to the following
account (or to such other account as Assignor may designate from time to time):

 

______________________________

 

______________________________

 

ABA No._______________________

 

______________________________

 

Account No.____________________

 

Reference: _____________________

 

    A2

     

    

 

IN WITNESS WHEREOF,
this Assignment and Acceptance is executed as of _____________.

 

	 	 
	 	 
	 	(“Assignee”)
	 	 
	 	 
	 	By	 
	 		Title:
	 	 
	 	 
	 	 
	 	(“Assignor”)
	 	 
	 	 
	 	By	 
			Title:

 

    A3

     

    

 

EXHIBIT B

to

Third Amended and Restated Loan and Security Agreement

 

ASSIGNMENT NOTICE

 

Reference is made to (1) the
Third Amended and Restated Loan and Security Agreement dated as of October 15, 2020, as amended (“Loan Agreement”),
among SUMMER INFANT, INC., and SUMMER INFANT (USA), INC. (collectively, “Borrowers”), the
Guarantors party thereto from time to time, BANK OF AMERICA, N.A., as agent (“Agent”) for the financial institutions
from time to time party to the Loan Agreement (“Lenders”), and such Lenders; and (2) the Assignment and Acceptance
dated as of ____________, 20__ (“Assignment Agreement”), between __________________ (“Assignor”)
and ____________________ (“Assignee”). Terms are used herein as defined in the Loan Agreement.

 

Assignor hereby notifies
Borrowers and Agent of Assignor’s intent to assign to Assignee pursuant to the Assignment Agreement (a) a principal amount
of $________ of Assignor’s outstanding Revolver Loans and $___________ of Assignor’s participations in LC Obligations, (b) the
amount of $__________ of Assignor’s Revolver Commitment (which represents ____% of the total Revolver Commitments), (c) a
principal amount of $________ of Assignor’s outstanding FILO Loans, (d) the amount of $__________ of Assignor’s FILO
Commitment (which represents ____% of the total FILO Commitments), and (e) a principal amount of $__________ of Assignor’s
outstanding Term Loan (the foregoing items being, collectively, the “Assigned Interest”), together with an interest
in the Loan Documents corresponding to the Assigned Interest. This Agreement shall be effective as of the date (“Effective Date”)
indicated below, provided this Assignment Notice is executed by Assignor, Assignee, Agent and Borrower Agent, if applicable. Pursuant
to the Assignment Agreement, Assignee has expressly assumed all of Assignor’s obligations under the Loan Agreement to the extent
of the Assigned Interest, as of the Effective Date.

 

For purposes of the Loan
Agreement, Agent shall deem Assignor’s Revolver Commitment to be reduced by $_________, Assignee’s Revolver Commitment to
be increased by $_________, Assignor’s FILO Commitment to be reduced by $_________, and Assignee’s FILO Commitment to be
increased by $_________.

 

The address of Assignee to
which notices and information are to be sent under the terms of the Loan Agreement is:

 

________________________

 

________________________

 

________________________

 

________________________

 

The address of Assignee to which payments are
to be sent under the terms of the Loan Agreement is shown in the Assignment and Acceptance.

 

This Notice is being delivered
to Borrowers and Agent pursuant to Section 13.3 of the Loan Agreement. Please acknowledge your acceptance of this Notice
by executing and returning to Assignee and Assignor a copy of this Notice.

 

    B1

     

    

 

IN WITNESS WHEREOF,
this Assignment Notice is executed as of _____________.

 

	 	 
	 	 
	 	(“Assignee”)
	 	 
	 	 
	 	 
	 	By	 
	 		Title:
	 	 
	 	 
	 	 
	 	(“Assignor”)
	 	 
	 	 
	 	 
	 	By	 
			Title:

 

ACKNOWLEDGED AND AGREED,

AS OF THE DATE SET FORTH ABOVE:

 

BORROWER AGENT:*

 

SUMMER INFANT (USA), INC.

 

	By	 	 
	 	Title:	 

 

* No signature required if Assignee is a Lender, U.S.-based Affiliate
of a Lender or Approved Fund, or if an Event of Default exists.

 

BANK OF AMERICA, N.A.,

as Agent

 

	By	 	 
	 	Title:	 

 

    B2

     

    

 

SCHEDULE 1.1(a)

 

to

 

Third Amended and Restated Loan and Security Agreement

 

COMMITMENTS OF LENDERS

 

	Lender	 	Revolver

 Commitment	 	 	Applicable

 Percentage	 	 	FILO 
Commitment	 	 	Applicable

 Percentage	 	 	Term Loan

 Commitment	 	 	Applicable

 Percentage	 
	Bank of America, N.A.	 	$	40,000,000	 	 	100	%	 	$	2,500,000	 	 	100	%	 	$	7,500,000	 	 	100	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTALS:	 	$	40,000,000	 	 	100	%	 	$	2,500,000	 	 	100	%	 	$	7,500,000	 	 	100	%

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