Document:

EX-10.7

 Exhibit 10.7 
  

 
  

COLLATERAL AGREEMENT 
 dated as of
April 1, 2020 
 among 
 T-MOBILE US, INC., 
 T-MOBILE USA, INC., 

and THE OTHER GRANTORS referred to herein 

in favor of 
 DEUTSCHE BANK TRUST
COMPANY AMERICAS, 
 as Collateral Trustee 
  

 
  

 TABLE OF CONTENTS 
  

							
	SECTION 1. DEFINED TERMS	  	 	1	 
	 1.1.
	 	Definitions	  	 	1	 
	 1.2.
	 	Other Definitional Provisions	  	 	7	 
		
	SECTION 2. [RESERVED]	  	 	7	 
		
	SECTION 3. GRANT OF SECURITY INTEREST	  	 	7	 
	 3.1.
	 	Security Interest	  	 	7	 
		
	SECTION 4. REPRESENTATIONS AND WARRANTIES	  	 	10	 
	 4.1.
	 	Title; No Other Liens	  	 	10	 
	 4.2.
	 	Perfected First Priority Liens	  	 	11	 
	 4.3.
	 	Name; Jurisdiction of Organization, etc.	  	 	11	 
	 4.4.
	 	Investment Property and Pledged Securities	  	 	11	 
	 4.5.
	 	Intellectual Property	  	 	12	 
	 4.6.
	 	Commercial Tort Claims	  	 	12	 
		
	SECTION 5. COVENANTS	  	 	12	 
	 5.1.
	 	Covenants in First Priority Debt Documents	  	 	13	 
	 5.2.
	 	Delivery of Pledged Capital Stock	  	 	13	 
	 5.3.
	 	Maintenance of Perfected Security Interest; Further Documentation	  	 	14	 
	 5.4.
	 	Changes in Locations, Name, Jurisdiction of Incorporation, etc.	  	 	15	 
	 5.5.
	 	Intellectual Property	  	 	15	 
	 5.6.
	 	Commercial Tort Claims	  	 	15	 
		
	SECTION 6. REMEDIAL PROVISIONS	  	 	16	 
	 6.1.
	 	[Reserved]	  	 	16	 
	 6.2.
	 	Pledged Securities	  	 	16	 
	 6.3.
	 	Proceeds to be Turned Over to Collateral Trustee	  	 	18	 
	 6.4.
	 	Application of Proceeds	  	 	18	 
	 6.5.
	 	Code and Other Remedies	  	 	18	 
	 6.6.
	 	Remedies for Intellectual Property	  	 	20	 
	 6.7.
	 	Waiver; Deficiency	  	 	21	 
	 6.8.
	 	Governmental Approvals	  	 	21	 
		
	SECTION 7. THE COLLATERAL TRUSTEE	  	 	23	 
	 7.1.
	 	Collateral Trustee’s Appointment as Attorney-in-Fact, etc.	  	 	23	 
	 7.2.
	 	Duty of Collateral Trustee	  	 	25	 
	 7.3.
	 	Financing Statements; Intellectual Property Filings	  	 	25	 
	 7.4.
	 	Authority of Collateral Trustee	  	 	26	 
	 7.5.
	 	Concerning the Collateral Trustee	  	 	26	 
		
	SECTION 8. [RESERVED]	  	 	26	 
		
	SECTION 9. MISCELLANEOUS	  	 	26	 
	 9.1.
	 	Amendments in Writing	  	 	26	 

							
	 9.2.
	 	Notices	  	 	26	 
	 9.3.
	 	No Waiver by Course of Conduct; Cumulative Remedies	  	 	27	 
	 9.4.
	 	Enforcement Expenses; Indemnification	  	 	27	 
	 9.5.
	 	Successors and Assigns	  	 	27	 
	 9.6.
	 	Right of Setoff	  	 	27	 
	 9.7.
	 	Counterparts; Integration	  	 	27	 
	 9.8.
	 	Severability	  	 	28	 
	 9.9.
	 	Section Headings	  	 	28	 
	 9.10.
	 	GOVERNING LAW	  	 	28	 
	 9.11.
	 	Jurisdiction; Consent to Service of Process	  	 	28	 
	 9.12.
	 	WAIVER OF JURY TRIAL	  	 	29	 
	 9.13.
	 	Acknowledgments	  	 	29	 
	 9.14.
	 	Additional Grantors; Releases	  	 	29	 
	 9.15.
	 	Certain Specified Collateral	  	 	30	 
	 9.16.
	 	Successor Collateral Trustee	  	 	30	 
	 9.17.
	 	Collateral Trust Agreement Governs	  	 	31	 
	 9.18.
	 	Electronic Execution	  	 	31	 

 SCHEDULES 
  

			
	Schedule 1	  	Notice Addresses of Grantors
	Schedule 2	  	Description of Pledged Investment Property
	Schedule 3	  	Filings and Other Actions Required to Perfect Security Interests
	Schedule 4	  	Exact Legal Name, Location of Jurisdiction of Organization and Chief Executive Office
	Schedule 5	  	Patents, Trademarks and Other Intellectual Property
	Schedule 6	  	Commercial Tort Claims

 EXHIBITS 
  

			
	Exhibit A	  	Intellectual Property Security Agreement

 ANNEXES 
  

			
	Annex 1	  	Assumption Agreement

  
 ii 

 COLLATERAL AGREEMENT 

COLLATERAL AGREEMENT dated as of April 1, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time
to time, this “Agreement”) made by T-MOBILE US, INC., a Delaware corporation (“Parent”), T- MOBILE USA, INC., a Delaware corporation
(the “Company”), and certain other subsidiaries of Parent party hereto (together with the Company, Parent and any other entity that is or may become a party hereto as provided herein, the “Grantors”), in favor of
DEUTSCHE BANK TRUST COMPANY AMERICAS, as collateral trustee (together with its successors in such capacity, the “Collateral Trustee”) under the Collateral Trust and Intercreditor Agreement, dated as of April 1, 2020 (the
“Collateral Trust Agreement”), among, inter alia, Parent, the Company, the subsidiaries of Parent party thereto, the Collateral Trustee and the various Holder Representatives. 

W I T N E S E T H: 

WHEREAS, pursuant to various First Priority Debt Documents, certain First Priority Secured Parties have made extensions of credit and other
accommodations to the Grantors upon the terms and subject to the conditions set forth therein; 
 WHEREAS, Parent and the Company are
members of an affiliated group of companies that includes each Grantor; 
 WHEREAS, Parent, the Company and the other Grantors will derive
substantial direct and indirect benefit from the making of the extensions of credit and other accommodations under the First Priority Debt Documents; and 

WHEREAS, it is a condition precedent to the obligation of certain First Priority Secured Parties to make their respective extensions of credit
to the Company and it is otherwise a related obligation of the Grantors under certain First Priority Debt Documents, that the Grantors shall have executed and delivered this Agreement to the Collateral Trustee for the ratable benefit of the First
Priority Secured Parties. 
 NOW, THEREFORE, in consideration of the premises and the covenants and agreements contained herein, and to
induce the First Priority Secured Parties to enter into their applicable respective First Priority Debt Documents, to induce the First Priority Secured Parties to make their respective extensions of credit or other accommodations under the
respective First Priority Debt Documents and to otherwise satisfy the related obligations of the Grantors under certain First Priority Debt Documents, each Grantor hereby agrees with the Collateral Trustee, for the ratable benefit of the First
Priority Secured Parties, as follows: 
 SECTION 1. DEFINED TERMS 

1.1. Definitions. (a) Unless otherwise defined herein, terms defined in the Collateral Trust Agreement and used herein shall have
the meanings given to them in the Collateral Trust Agreement; provided that each term defined in the New York UCC and not defined in this Agreement shall have the meaning specified in the New York UCC. 

(b) The following terms shall have the following meanings: 

 “After-Acquired Intellectual Property”: as defined in Section 5.5.

 “Agreement”: as defined in the preamble hereto. 

“Applicable Date”: means with respect to any Grantor, (i) the date of this Agreement if such Grantor is a party hereto
on the Effective Date, (ii) the date on which an Assumption Agreement is executed and delivered by such Grantor if such Grantor is not a party hereto on the Effective Date, and (iii) with respect to a schedule to this Agreement that is
amended or updated by a Grantor after the Effective Date pursuant to any First Priority Debt Document or otherwise from time to time, the date on which such Grantor provides such amendments or updates. 

“Assumption Agreement”: an Assumption Agreement in the form of Annex 1 hereto. 

“Capital Stock”: 

(a) in the case of a corporation, corporate stock; 

(b) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock; 
 (c) in the case of an exempted company, shares; 

(d) in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests,
respectively; and 
 (e) any other interest or participation that confers on a Person the right to receive a share of the profits and losses
of, or distributions of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock. 

“Cash Equivalents”: 

(a) United States dollars, pounds sterling, euros, Canadian dollars, Swiss francs, the national currency of any member state of the European
Union or any other foreign currencies held by the Company and the Grantors from time to time in the ordinary course of business; 
 (b)
securities issued or directly and fully guaranteed or insured by the government of the United States of America, Canada, the United Kingdom, Switzerland or any country that is a member of the European Union or any agency or instrumentality thereof
(provided that the full faith and credit of the United States, Canada, the United Kingdom, Switzerland or the relevant member state of the European Union, as the case may be, is pledged in support of those securities) having maturities of not
more than two years from the date of acquisition; 

  
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 (c) demand deposits, certificates of deposit and Eurodollar time deposits with maturities of
one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case, with any domestic commercial bank having capital and surplus in excess of $250.0 million,
in the case of U.S. banks, and $100.0 million (or the foreign currency equivalent thereof), in the case of non-U.S. banks; 

(d) repurchase obligations with a term of not more than 30 days for underlying securities of the types described in clauses (b) and
(c) above entered into with any financial institution meeting the qualifications specified in clause (c) above; 
 (e) commercial
paper having one of the two highest ratings obtainable from a Rating Agency at the date of acquisition and, in each case, maturing within one year after the date of acquisition; 

(f) securities issued and fully guaranteed by any state, commonwealth or territory of the United States, Canada, any country that is a member
of the European Union, the United Kingdom or Switzerland or by any political subdivision or agency or instrumentality of the foregoing, rated at least “A” (or the equivalent thereof) by a Rating Agency at the date of acquisition and having
maturities of not more than two years after the date of acquisition; 
 (g) auction rate securities rated at least “AA-” or “Aa3” (or the equivalent thereof) by a Rating Agency at the time of purchase and with reset dates of one year or less from the time of purchase; 

(h) investments, classified in accordance with GAAP as current assets of the Company or any Grantor, in money market funds, mutual funds or
investment programs registered under the Investment Company Act of 1940, at least 90% of the portfolios of which constitute investments of the character, quality and maturity described in clauses (a) through (g) of this definition; 

(i) any substantially similar investment to the kinds described in clauses (a) through (g) of this definition rated at least “P-2” by Moody’s or “A-2” by S&P or the equivalent thereof; and 

(j) deposits or payments made to the FCC in connection with the auction or licensing of Governmental Authorizations that are fully refundable.

 “Collateral”: as defined in Section 3.1(a). 

“Collateral Account”: any collateral deposit account established by the Collateral Trustee to hold cash pending application
to the First Priority Secured Obligations in accordance with the terms hereof. 
 “Collateral Trust Agreement”: as defined
in the preamble hereto. 
 “Collateral Trustee”: as defined in the preamble hereto. 

“Company”: as defined in the preamble hereto. 

  
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 “Discharge of Obligations”: the payment and performance in full (as such
phrase is defined in the Collateral Trust Agreement) of the First Priority Secured Obligations. 
 “Electronic Signature”:
any electronic symbol or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record. 

“Excluded Assets”: shall mean all Excluded Assets (as such term is defined in the Initial Syndicated Credit Agreement);
provided that, solely with respect to holders of the applicable Specified First Priority Secured Obligations, Specified Collateral that would otherwise constitute an Excluded Asset shall not be deemed an Excluded Asset. 

“FCC”: the United States Federal Communications Commission and any successor agency that is responsible for regulating the
United States telecommunications industry 
 “FCC Licenses”: all licenses or permits now or hereafter issued by the FCC.

 “Governmental Authority”: any nation or government, any state, province, territory or other political subdivision
thereof and any other agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government
(including any supra-national bodies such as the European Union or the European Central Bank). 
 “Governmental
Authorization”: any permit, license, authorization, plan, directive, consent, permission, consent order or consent decree of or from any Governmental Authority, including but not limited to FCC Licenses. 

“Grantors”: as defined in the preamble hereto. 

“Infringement”: infringement, misappropriation, dilution or other impairment or violation, and “Infringe”
shall have a correlative meaning. 
 “Initial Syndicated Credit Agreement” shall mean that certain Credit Agreement, dated
as of April 1, 2020 (as amended, restated, amended and restated, refinanced, replaced, supplemented or otherwise modified from time to time), among the Company, the banks and financial institutions from time to time party thereto as lenders and
issuing banks, and Deutsche Bank AG New York Branch, as administrative agent, and the other agents and parties named therein. 

“Intellectual Property”: the collective reference to all rights relating to the Patents, the Patent Licenses, the Trademarks,
the Trademark Licenses, the Trade Secrets and the Trade Secret Licenses. 
 “Intellectual Property Security Agreement”: an
agreement substantially in the form of Exhibit A hereto. 

  
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 “Investment Property”: the collective reference to (i) all
“investment property” as such term is defined in Section 9-102(a)(49) of the New York UCC and (ii) security entitlements, in the case of any United States Treasury book-entry
securities, as defined in 31 C.F.R. section 357.2, or, in the case of any United States federal agency book-entry securities, as defined in the corresponding United States federal regulations governing such book-entry securities; provided that the
term “Investment Property” shall not at any time include Excluded Assets. 
 “Issuers”: the collective
reference to each issuer of any Pledged Capital Stock. 
 “Material Adverse Effect”: a material adverse effect on
(a) the business, financial condition, assets or results of operations, in each case, of the Grantors, taken as a whole, (b) the ability of the Grantors, taken as a whole, to perform their payment obligations under the First Priority Debt
Documents or (c) the rights and remedies of the Collateral Trustee and the Administrative Agent and the Secured Parties, taken as a whole, under any First Priority Debt Document. 

“New York UCC”: the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Non-Parent Collateral”: as defined in Section 3. 

“Parent”: as defined in the preamble hereto. 

“Parent Collateral”: as defined in Section 3. 

“Parent Entity” means Parent and any Parent Only Subsidiary. 

“Parent Only Subsidiary”: Any Subsidiary of Parent that is (x) not a Subsidiary of the Company or any other Grantor and
(y) directly or indirectly owns Capital Stock of the Company. 
 “Patent License”: all written agreements naming any
Grantor as licensor or licensee, providing for the granting by or to any Grantor of any right in or to a Patent. 

“Patents”: (i) all patents of the United States, all reexaminations, reissues, and extensions thereof, (ii) all
applications for patents of the United States and all divisionals, continuations and continuations-in-part thereof and (iii) all rights to obtain any reissues or
extensions of the foregoing in the United States. 
 “Permitted Liens”: Liens that are not prohibited by the Initial
Syndicated Credit Agreement or any other First Priority Debt Document. 
 “Person”: any individual, corporation,
partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 

  
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 “Pledged Capital Stock”: all shares or other equity interests constituting
Capital Stock now owned or hereafter acquired by (i) any Parent Entity in the Borrower or (ii) any other Grantor in any Subsidiary of such Grantor, including in each case all shares of Capital Stock described on Schedule 2 (as such
schedule may be amended from time to time), and the certificates, if any, representing such Capital Stock and any interest of such Grantor in the entries on the books of the Issuer of such Capital Stock and all dividends, distributions, cash,
warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such Capital Stock and any other warrant, right or
option to acquire any of the foregoing; provided that the Pledged Capital Stock shall not include any Excluded Asset. 

“Pledged Debt Securities”: all debt securities now owned or hereafter acquired by any Grantor (other than any Parent Entity),
including the debt securities listed on Schedule 2 (as such schedule may be amended from time to time), provided that the Pledged Debt Securities shall not include any Excluded Asset. 

“Pledged Notes”: all promissory notes and other evidences of Indebtedness (as defined in the Initial Syndicated Credit
Agreement) that constitute Instruments now owned or hereafter acquired by any Grantor (other than any Parent Entity), including those listed on Schedule 2 (as such schedule may be amended from time to time), provided that the Pledged Notes shall not
include any Excluded Asset. 
 “Pledged Securities”: the collective reference to the Pledged Debt Securities, the Pledged
Notes and the Pledged Capital Stock. 
 “Proceeds”: all “proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC and, in any event, shall include all dividends or other income from the Pledged Securities and Investment Property, collections thereon or distributions or payments with
respect thereto. 
 “Property”: any right or interest in or to property of any kind whatsoever, whether real, personal or
mixed and whether tangible or intangible, including Capital Stock. 
 “Registered Intellectual Property”: as defined in
Section 4.5(a). 
 “Requirement of Law”: as to any Person, any law, treaty, rule or regulation, official
administrative pronouncement, or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its Property or to which such Person or any of its Property is subject. 

“Specified Collateral”: as defined in Section 9.15. 

“Trademark License”: any written agreement naming any Grantor as licensor or licensee providing for the granting by or to any
Grantor of any right in or to any Trademark. 
 “Trademarks” means (i) all trademarks, trade names, domain names,
service marks or logos, trade dress, and all goodwill associated therewith, now existing or hereafter adopted or acquired, that have been registered or are the subject of an application to register filed in the United States Patent and Trademark
Office or in any similar office or agency of the United States or any State thereof and (ii) the right to obtain all renewals of any of the foregoing. 

  
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 “Trade Secrets”: all trade secrets and all confidential and proprietary
information, including know-how, manufacturing and production processes and techniques, inventions, research and development information, technical data, financial, marketing and business data, pricing and
cost information, business and marketing plans, and customer and supplier lists and information, formulae, parts, diagrams, drawings, specifications, blue prints, lists of materials, and production manuals, in each case, that (a) derives
independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and (b) is the subject of
efforts that are reasonable under the circumstances to maintain its secrecy, or (c) otherwise protected as a “trade secret” under applicable law. 

“Trade Secret License”: any written agreement naming any Grantor as licensor or licensee, providing for the granting by or to
any Grantor of any right in or to any Trade Secret. 
 “Uniform Commercial Code” or “UCC”: the New York
UCC or, where the context requires, the Uniform Commercial Code or any equivalent statute of any other relevant jurisdiction. 

“United States” and “US”: the United States of America. 

1.2. Other Definitional Provisions. (a) Except as otherwise expressly set forth herein, the rules of construction specified in Sections
1.1(c) through (h) of the Collateral Trust Agreement also apply to this Agreement. 
 (b) Where the context requires, terms relating to
the Collateral or any part thereof, when used in relation to a Grantor, shall refer to such Grantor’s Collateral or the relevant part thereof. 

SECTION 2. [RESERVED] 
 SECTION 3.
GRANT OF SECURITY INTEREST 
 3.1. Security Interest 

(a) Subject to Sections 3.1(c) and 3.1(d), Parent and any Parent Only Subsidiary hereby grants to the Collateral Trustee, for the benefit of
the First Priority Secured Parties, a security interest in, all of Parent’s or such Parent Only Subsidiary’s right, title and interest in and to all the following property, in each case, wherever located and whether now owned or at any
time hereafter acquired by Parent or such Parent Only Subsidiary or in which Parent or such Parent Only Subsidiary now has or at any time in the future may acquire any right, title or interest (the “Parent Collateral”), as
collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the First Priority Secured Obligations of Parent or such Parent Only Subsidiary: 

(i) all Pledged Capital Stock; 

(ii) all books, records, ledger cards, files, correspondence and similar items that at any time evidence or contain information
relating to any of the Parent Collateral or are otherwise necessary or helpful in the collection thereof or realization thereupon; and 

  
 7 

 (iii) to the extent not otherwise included, all Proceeds and products of any
and all of the foregoing. 
 (b) Subject to Sections 3.1(c) and 3.1(d), each Grantor (other than any Parent Entity) hereby grants to the
Collateral Trustee as collateral, for the benefit of the First Priority Secured Parties, a security interest in, all of such Grantor’s right, title and interest in and to all of the following property, in each case, wherever located and whether
now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest (collectively, but subject to Section 3.1(c), the “Non-Parent Collateral” and, together with the Parent Collateral, the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the
stated maturity, by acceleration or otherwise) of such Grantor’s First Priority Secured Obligations: 
 (i) all
Accounts; 
 (ii) all Chattel Paper; 

(iii) all Documents; 

(iv) all Equipment; 

(v) all Fixtures and other Goods; 

(vi) all General Intangibles; 

(vii) all Instruments; 

(viii) all Intellectual Property; 

(ix) all Inventory; 

(x) all Investment Property; 

(xi) all Pledged Securities; 

(xii) all Deposit Accounts; 

(xiii) all Supporting Obligations; 

(xiv) all Letter of Credit Rights; 

(xv) all Commercial Tort Claims listed on Schedule 6 (as such schedule may be amended or supplemented from time to time,
including pursuant to Section 5.6); 

  
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 (xvi) without limiting the generality of the foregoing, all rights of such
Grantor under or relating to any FCC Licenses held by such Grantor and the proceeds of any FCC Licenses; 
 (xvii) all books,
records, ledger cards, files, correspondence, customer lists, blueprints, technical specifications, manuals, computer software, computer printouts, tapes, disks and other electronic storage media and related data processing software and similar
items that at any time evidence or contain information relating to any of the Non-Parent Collateral or are otherwise necessary or helpful in the collection thereof or realization thereupon; and 

(xviii) to the extent not otherwise included, all other personal property of the Grantor and all Proceeds, products,
accessions, rents and profits of any and all of the foregoing and all collateral security and guarantees given by any Person with respect to any of the foregoing. 

(c) Notwithstanding anything to the contrary in this Agreement or any other First Priority Debt Document, this Agreement shall not constitute a
grant of a security interest in any Excluded Assets and none of the Excluded Assets shall constitute Collateral (or Pledged Capital Stock or any other component definition of the Collateral); provided, however, that a security interest shall
immediately be granted to the Collateral Trustee (for the benefit of the First Priority Secured Parties) and attach to, and Collateral shall immediately include, any asset (or portion thereof) upon such asset (or portion thereof) ceasing to be an
Excluded Asset. Without limitation, with respect to the rights of any Grantor (other than any Parent Entity) under or relating to FCC Licenses, such security interest does not include at any time any portion of any FCC Licenses to the extent (but
only to the extent) that at such time the Collateral Trustee may not validly possess a security interest in such portion (including pursuant to the Communications Act of 1934, as amended, as in effect at such time), but such security interest does
include, to the maximum extent permitted by law, the economic value of the FCC Licenses, all rights incident or appurtenant to such FCC Licenses and the right to receive all proceeds derived from or in connection with the sale, assignment or
transfer of such FCC Licenses. 
 (d) Notwithstanding anything to the contrary in this Agreement or any other First Priority Debt Document,
none of the Grantors shall be required pursuant to this Agreement or any other First Priority Debt Document to: 
 (i)
perfect any pledges, security interests and mortgages in the Collateral by any means other than (A)(1) filings pursuant to the Uniform Commercial Code in the office of the Secretary of State (or similar central filing office) of the relevant State
in which such Grantor is organized, and (2) filings in the U.S. Patent and Trademark Office with respect to Registered Intellectual Property as expressly required in the First Priority Security Documents or (B) delivery to the
Collateral Trustee (or its agent or bailee pursuant to the terms of the Collateral Trust Agreement or any other Intercreditor Agreement) of all certificates evidencing Collateral consisting of Capital Stock to be held in its possession, in each case
as and to the extent expressly required by the First Priority Security Documents or any other First Priority Debt Documents or (C) as specified in Section 5.6; 

  
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 (ii) (A) deliver deposit or securities account control agreements or
lockbox or similar arrangements, (B) otherwise deliver perfection by “control” (within the meaning of the UCC) (including with respect to deposit accounts, securities accounts and commodities accounts), other than as described in
clause (i)(B) above or (C) send notices to account debtors or other contractual third parties unless an Event of Default has occurred and is continuing; 

(iii) take any actions outside of the United States with respect to any assets located outside of the United States; or 

(iv) take any actions in any jurisdiction other than the United States (or any political subdivision thereof) in connection
with pledging Collateral or enter into any collateral documents governed by the laws of any country (or any political subdivision thereof) other than the United States (or any political subdivision thereof). 

(e) Notwithstanding anything herein to the contrary, (i) each Grantor shall remain liable for all of its obligations in respect of the
Collateral and nothing contained herein is intended or shall be a delegation of duties to the Collateral Trustee or any other First Priority Secured Party, (ii) each Grantor jointly and severally agrees to indemnify and hold harmless the
Collateral Trustee and the other First Priority Secured Parties from and against any and all liability for performance under each contract, agreement or instrument relating to the Collateral unless resulting from the gross negligence or willful
misconduct of such Person, (iii) each Grantor shall remain liable under each of its agreements included in the Collateral, and shall perform all of its obligations undertaken by it thereunder all in accordance with and pursuant to the terms and
provisions thereof and neither the Collateral Trustee nor any other First Priority Secured Party shall have any obligation or liability under any of such agreements by reason of or arising out of this Agreement or any other document related thereto,
nor shall the Collateral Trustee nor any other First Priority Secured Party have any obligation to make any inquiry as to the nature or sufficiency of any payment received by it or have any obligation to take any action to collect or enforce any
rights under any agreement included in the Collateral and (iv) the exercise by the Collateral Trustee of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included
in the Collateral. 
 SECTION 4. REPRESENTATIONS AND WARRANTIES 

To induce the First Priority Secured Parties to enter into their applicable respective First Priority Debt Documents and to induce the First
Priority Secured Parties to make their respective extensions of credit or other accommodations thereunder, each Grantor hereby, jointly and severally, represents and warrants to the First Priority Secured Parties (other than any Parent Entity, which
represents and warrants to each First Priority Secured Party solely with respect to itself and the Parent Collateral, and solely as set forth in Sections 4.1, 4.2, 4.3, and 4.4) that: 

4.1. Title; No Other Liens. Except as disclosed on Schedule 3.8 to the Initial Syndicated Credit Agreement, as of the Effective Date,
such Grantor has good title to, or a valid leasehold interest in, all real property and other Property that is Collateral and that is material to the conduct of its business except where the failure to have such title or interests would not
reasonably be expected to have a Material Adverse Effect. None of the Collateral is subject to any Lien except Permitted Liens. 

  
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 4.2. Perfected First Priority Liens. In each case subject to Section 9.16, the
security interests granted pursuant to this Agreement constitute legal, valid, binding and enforceable and, subject to any Permitted Liens, first lien security interests in all of the Collateral in favor of the Collateral Trustee, for the benefit of
the First Priority Secured Parties, as collateral security for the First Priority Secured Obligations, enforceable against each applicable Grantor in accordance with the terms hereof, except as enforceability may be limited by applicable Bankruptcy
Laws and by general equitable principles (whether enforcement is sought in proceedings in equity or at law) and, other than with respect to Collateral a security interest in which cannot be perfected by taking the actions specified in
Section 3.1(d)(i), as of the most recent Applicable Date, when financing statements in appropriate form are filed in the appropriate filing offices, Intellectual Property Security Agreements are filed in the United States Patent and Trademark
Office and such other actions as specified on Schedule 3 (as such schedule may be amended from time to time) have been completed and upon the payment of all filing fees, will be perfected and are prior to the Liens on the Collateral of any other
Person (except for Permitted Liens). 
 4.3. Name; Jurisdiction of Organization, etc. As of the most recent Applicable Date,
such Grantor’s exact legal name (as indicated on the public record of such Grantor’s jurisdiction of formation or organization), jurisdiction of organization and the location of such Grantor’s chief executive office or sole place of
business, as the case may be, are specified on Schedule 4 (as such schedule may be amended from time to time). Except as specified on Schedule 4 (as such schedule may be amended from time to time), no Grantor has changed its name (or used any other
name on any filings with the Internal Revenue Service), jurisdiction of organization, chief executive office or principal place of business (as the case may be) within the five year period immediately prior to the Applicable Date. 

4.4. Investment Property and Pledged Securities. (a) Such Grantor is the record and beneficial owner of all Pledged Capital Stock
pledged by it hereunder, and such Grantor has good title to all such Pledged Capital Stock (except for such failure to have good title as would not conflict with Section 3.8 of the Initial Syndicated Credit Agreement and any corresponding
provisions of the other First Priority Debt Documents) pledged by it hereunder, free of any and all Liens, except Permitted Liens. 
 (a)
Schedule 2 (as such schedule may be amended from time to time) sets forth as of the most recent Applicable Date with respect to such Grantor under the heading “Pledged Capital Stock” all of the Pledged Capital Stock owned by such
Grantor, and such Pledged Capital Stock as of such Applicable Date constitutes the percentage of issued and outstanding shares of stock, percentage of membership interests, percentage of partnership interests or percentage of beneficial interest of
the respective Issuers thereof indicated on such schedule. Schedule 2 (as such schedule may be amended from time to time) sets forth as of the most recent Applicable Date with respect to each Grantor under the heading “Pledged Debt
Securities” or “Pledged Notes” all of the Pledged Debt Securities and Pledged Notes owned by any Grantor. 

  
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 (b) The shares of Pledged Capital Stock pledged by such Grantor hereunder constitute all of
the issued and outstanding shares of all classes of the Capital Stock of each Issuer of Capital Stock included in the Collateral owned by such Grantor. All the shares of the Pledged Capital Stock issued by any Issuer have been duly and validly
authorized and issued and are fully paid and non-assessable. 
 (c) Each Grantor (i) as of the
most recent Applicable Date, is and, subject to any transfers made in compliance with the First Priority Debt Documents, will continue to be the direct owner, beneficially and of record, of the Pledged Capital Stock indicated on Schedule 2 (as such
schedule may be amended from time to time) as owned by such Grantor and (ii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or other Lien on, the Pledged Capital Stock,
except in each case as permitted by the First Priority Debt Documents. 
 (d) Except for restrictions and limitations imposed by the First
Priority Debt Documents or securities laws generally or otherwise permitted to exist pursuant to the terms of the First Priority Debt Documents, the shares of Pledged Capital Stock are and will continue to be freely transferable and assignable, and
as of the most recent Applicable Date, none of the Pledged Capital Stock is or will be subject to outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments that might materially prohibit, impair, delay or
otherwise affect the sale or disposition thereof pursuant hereto or the exercise by the Collateral Trustee of rights and remedies hereunder. 

4.5. Intellectual Property. (a) Schedule 5 (as such schedule may be amended from time to time) lists as of the most recent Applicable
Date all issued Patents and pending Patent applications of any Grantor with the United States Patent and Trademark Office, and all registered Trademarks and pending Trademark applications of any Grantor with the United States Patent and Trademark
Office (collectively, “Registered Intellectual Property”). 
 (b) Except as disclosed in Schedule 3.9 to the Initial
Syndicated Credit Agreement, each Grantor owns, or is licensed to use, all trademarks, trade names, copyrights, patents and other Intellectual Property necessary to its business, and, to the extent the Grantor holds title to such Intellectual
Property, the use thereof by such Grantor does not infringe upon the rights of any other Person, except for any such failure to own, be licensed or infringements that, individually or in the aggregate, would not reasonably be expected to result in a
Material Adverse Effect. 
 4.6. Commercial Tort Claims. Schedule 6 (as such schedule may be amended from time to time) lists, as of
the most recent Applicable Date, each Commercial Tort Claim owned by any Grantor (other than any Parent Entity) that, in the reasonable determination of the Company, is estimated to be in excess of $70,000,000. 

SECTION 5. COVENANTS 
 Each
Grantor covenants and agrees (other than any Parent Entity, which covenants and agrees solely with respect to the Parent Collateral, and solely as set forth in Sections 5.2, 5.3 and 5.4) for the benefit of the First Priority Secured Parties that,
until the Discharge of Obligations, in each case subject to the requirements of the Collateral Trust Agreement and any other intercreditor arrangements entered into pursuant to this Agreement and the First Priority Debt Documents: 

  
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 5.1. Covenants in First Priority Debt Documents. Such Grantor shall comply with the
covenants in the First Priority Debt Documents pertaining to actions to be taken, or not taken, by such Grantor in respect of its portion of the Collateral (it being understood that nothing in this Section 5.1 shall require any Grantor to take,
or forbear from taking, any action with respect to any Excluded Assets or any other action described in Section 3.1(d)). 
 5.2.
Delivery of Pledged Capital Stock. 
 (a) If any of the Collateral consisting of Capital Stock of any Issuer is or shall become
evidenced or represented by any certificate, such certificate shall be delivered to the Collateral Trustee (i) except as otherwise provided in Section 5.14 of the Initial Syndicated Credit Agreement, on the Effective Date in the case of
the Capital Stock of any such Collateral owned by a Grantor on the Effective Date or (ii) in the case of any Capital Stock that is acquired or becomes evidenced or represented by a certificate after the Effective Date, no later than the next
date of delivery of financials statements pursuant to Section 5.1(a) or (b) of the Initial Syndicated Credit Agreement covering a period that includes the date of such acquisition or the date on which such Capital Stock becomes so
evidenced or represented (or if the Initial Syndicated Credit Agreement is no longer in effect, within 45 days (or, in the case of the fourth fiscal quarter of any fiscal year, 90 days) after the end of the fiscal quarter that includes the date of
such acquisition or the date on which such Capital Stock becomes so evidenced or represented) (or such later date as the Controlling Party may agree in its reasonable discretion), in each case accompanied by undated stock powers or other instruments
of transfer duly executed by the applicable Grantor in blank in a manner and form reasonably satisfactory to the Collateral Trustee, to be held as Collateral pursuant to this Agreement. 

(b) Each Grantor acknowledges and agrees that, to the extent an interest in any limited liability company or limited partnership that is an
Issuer and pledged hereunder is a “security” within the meaning of Article 8 of the New York UCC and is governed by Article 8 of the New York UCC, such interest shall be certificated, which certificate shall be delivered to the
Collateral Trustee in accordance with Section 5.2(a). Each Grantor further acknowledges and agrees that with respect to any interest in any limited liability company or limited partnership that is an Issuer and pledged hereunder that is not a
“security” within the meaning of Article 8 of the New York UCC, such Grantor shall at no time elect to treat any such interest as a “security” within the meaning of Article 8 of the New York UCC, nor shall such interest be
represented by a certificate, unless such Grantor provides prior written notification to the Collateral Trustee of such election and such interest is thereafter represented by a certificate that is delivered to the Collateral Trustee (x) on the
Effective Date (in the case of any such certificate owned by a Grantor on the Effective Date), (y) if such Collateral is acquired after the Effective Date (in the case of any other such Collateral) no later than the next date of delivery of
financials statements pursuant to Section 5.1(a) or (b) of the Initial Syndicated Credit Agreement covering a period that includes the date of such acquisition of such Collateral (or if the Initial Syndicated Credit Agreement is no longer
in effect, within 45 days (or, in the case of the fourth fiscal quarter of any fiscal year, 90 days) after the end of the fiscal quarter that includes the date of such 

  
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acquisition of such Collateral) (or such later date as the Controlling Party may agree in its reasonable discretion) or (z) if such interest becomes represented by a certificate after the
Effective Date (in the case Grantor elects to have such interest certificated after the dates specified in clause (x) or (y), as applicable) no later than the next date of delivery of financials statements pursuant to Section 5.1(a) or
(b) of the Initial Syndicated Credit Agreement covering a period that includes the date on which such Collateral becomes so represented (or if the Initial Syndicated Credit Agreement is no longer in effect, within 45 days (or, in the case of
the fourth fiscal quarter of any fiscal year, 90 days) after the end of the fiscal quarter that includes the date on which such Collateral becomes so represented) (or such later date as the Controlling Party may agree in its reasonable discretion),
in each case pursuant to the terms hereof. 
 (c) Each Grantor which is either an Issuer or an owner of any Pledged Capital Stock hereby
(A) consents to the grant by each other Grantor of the security interest hereunder in favor of the Collateral Trustee, (B) agrees to be bound by the terms of this Agreement relating to the Pledged Capital Stock issued by it and to comply
with such terms insofar as such terms are applicable to it, (C) agrees to comply with instructions of the Collateral Trustee with respect to the applicable Pledged Capital Stock without further consent by the applicable Grantor following the
occurrence and during the continuance of an Event of Default and (D) agrees to the transfer of any Pledged Capital Stock to the Collateral Trustee or its nominee following the occurrence and during the continuance of an Event of Default and, if
an Event of Default has occurred and is continuing, to the substitution of the Collateral Trustee or its nominee as a partner, member or shareholder of the Issuer of the related Pledged Capital Stock that are included in the Collateral. 

(d) Each delivery of shares of Pledged Capital Stock shall be accompanied by a schedule describing the applicable securities, which schedule
shall be deemed attached hereto as part of Schedule 2 (as such schedule may be amended from time to time); provided that failure to attach any such schedule shall not affect the validity of the pledge of such Pledged Capital Stock. Each schedule so
delivered shall supplement any prior schedules so delivered. 
 5.3. Maintenance of Perfected Security Interest; Further
Documentation. (a) Subject to the provisions of Sections 3.1(c) and 3.1(d) hereof, and provided that in no event shall any Grantor be required to deliver Pledged Securities not required to be delivered pursuant to Section 5.2 hereof, such
Grantor shall maintain the security interest created by this Agreement on the Collateral as a perfected security interest having at least the priority described in Section 4.2 hereof until the Collateral is released from such security interest
pursuant to the terms of the Collateral Trust Agreement or by operation of law and shall cause such Collateral to remain free of Liens other than Permitted Liens. 

(b) Subject to the provisions of Sections 3.1(c) and 3.1(d) hereof, at any time and from time to time, and at the sole expense of such Grantor,
such Grantor will promptly and duly authorize, execute and deliver, and have recorded, such further instruments and documents and take such further actions as any First Priority Agent may reasonably request (or, if there is no First Priority Agent
that is the agent in respect of any loan agreement, as is necessary or desirable or that a Holder Representative may reasonably request) to better assure, preserve, protect and perfect the security interests granted hereby, the full benefits of this
Agreement and the rights and powers herein granted, including (i) the payment of any fees and taxes required in connection with the execution and delivery of this Agreement and the granting and perfecting of

  
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the security interests and (ii) the filing of any financing or continuation statements under the Uniform Commercial Code in effect in any applicable jurisdiction within the United States
with respect to the security interests created hereby. Each Grantor will provide to the Collateral Trustee from time to time upon reasonable request, evidence reasonably satisfactory to the Collateral Trustee as to the perfection (to the extent
required by this Agreement) and priority of the Lien created or intended to be created pursuant to this Agreement. 
 5.4. Changes in
Locations, Name, Jurisdiction of Incorporation, etc. Such Grantor will not (i) change its jurisdiction of organization, the location of its chief executive office or the sole place of business from that referred to on Schedule 4 (as such
schedule may be amended from time to time), (ii) change its name or (iii) change its type of organization, in each case unless such Grantor shall deliver to the Collateral Trustee and any First Priority Agent, on or before the date that is
thirty (30) days (or such longer period as may be reasonably agreed to by the Controlling Party) following such event or occurrence, (i) written notice thereof and (ii) all additional financing statements and any other documents
reasonably requested to maintain the validity, perfection and priority of the security interests in the Collateral provided for herein, subject to the provisions of Sections 3.1(c) and 3.1(d) hereof. 

5.5. Intellectual Property. Each Grantor (other than any Parent Entity) agrees that, should it after the Effective Date acquire or file
an application for the registration of any Registered Intellectual Property included in the Collateral (the “After-Acquired Intellectual Property”), (i) the provisions of Section 3 shall automatically apply thereto,
(ii) any such After-Acquired Intellectual Property shall automatically become part of the Intellectual Property Collateral (except where it would be an Excluded Asset), and (iii) no later than the next date of delivery of financial
statements pursuant to Section 5.1(a) of the Initial Syndicated Credit Agreement thereafter covering a period that includes the date on which such After-Acquired Intellectual Property is acquired or such application is filed, as the case may be
(or if the Initial Syndicated Credit Agreement is no longer in effect, 90 days after the end of the fiscal year that includes the date on which such After-Acquired Intellectual Property is acquired or licensed or such application is filed, as the
case may be) (or such later date as the Controlling Party may agree in its reasonable discretion), such Grantor shall (A) report such acquisition or filing to the Collateral Trustee and any First Priority Agent and (B) subject to Sections
3.1(c) and 3.1(d) hereof, execute and deliver, and have recorded with the United States Patent and Trademark Office, an Intellectual Property Security Agreement (or an amendment to any previously executed and filed Intellectual Property Security
Agreement) with respect to such After-Acquired Intellectual Property, and any and all other agreements, instruments, documents, and papers as any First Priority Agent may reasonably request (or, if there is no First Priority Agent that is the agent
in respect of any loan agreement, as is necessary or desirable or that a Holder Representative may reasonably request) to evidence the First Priority Secured Parties’ security interest in any such After-Acquired Intellectual Property. 

5.6. Commercial Tort Claims. If such Grantor shall obtain an interest in any Commercial Tort Claim with an estimated value (in the
reasonable determination of the Company) in excess of $70,000,000, such Grantor shall (a) on the Effective Date (in the case of any such interest in any Commercial Tort Claims owned by such Grantor on the Effective Date) or (b) promptly
and in any event no later than the next date of delivery of financial statements pursuant to Section 5.1(a) or (b) of the Initial Syndicated Credit Agreement thereafter covering a 

  
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period that includes the date of acquisition or creation of such Collateral (in the case of any other such interest in any Commercial Tort Claims) (or, if the Initial Syndicated Credit Agreement
is no longer in effect, at the end of the first fiscal quarter that includes the date of acquisition or creation of such Collateral) (or such later date as the Controlling Party may agree in its reasonable discretion) sign and deliver a supplement
to Schedule 6, reasonably identifying such new Commercial Tort Claim. 
 SECTION 6. REMEDIAL PROVISIONS 

6.1. [Reserved]. 

6.2. Pledged Securities. (a) Unless an Event of Default shall have occurred and be continuing and the Collateral Trustee shall have
given written notice to the relevant Grantor of the Collateral Trustee’s intent to exercise its corresponding rights pursuant to Section 6.2(b) (which notice shall be deemed to have been given immediately upon the occurrence of an
“Event of Default” or similar term under Section 7.1(g) or (h) of the Initial Syndicated Credit Agreement or the corresponding provisions of any First Priority Debt Document, as applicable), each Grantor shall be permitted to
(i) receive all dividends, interest, principal or other payments or distributions paid or made in respect of the Pledged Securities, to the extent not prohibited by the First Priority Debt Documents; provided, however, that any noncash
dividends, interest, principal or other distributions that would constitute Pledged Capital Stock or Pledged Debt Securities, whether resulting from a subdivision, combination or reclassification of the outstanding equity interests of the issuer of
any Pledged Securities or received in exchange for Pledged Securities or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or
otherwise, shall be and become part of the Collateral, and, if received by such Grantor, shall not be commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held for the ratable
benefit of the First Priority Secured Parties and shall (subject to Section 3.1(d)) be forthwith delivered to the Collateral Trustee in the same form as so received (with any necessary endorsement or instrument of assignment), and
(ii) exercise all voting and corporate or other ownership rights with respect to the Pledged Securities; provided, however, that no Grantor shall in any event exercise such rights in any manner that would reasonably be expected to have a
Material Adverse Effect. Unless an Event of Default shall have occurred and be continuing, the Collateral Trustee shall, upon written request of the relevant Grantor and at the relevant Grantor’s sole cost and expense, execute and deliver (or
cause to be executed and delivered) to such Grantor all proxies and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and other rights that it is entitled to exercise pursuant to
this Section 6.2. 
 (b) If an Event of Default shall occur and be continuing and the Collateral Trustee shall have given written notice
to the relevant Grantor or Grantors of the Collateral Trustee’s intent to execute its rights pursuant to this Section 6.2(b) (which notice shall be deemed to have been given immediately upon the occurrence of an “Event of
Default” or similar term under Section 7.1(g) or (h) of the Initial Syndicated Credit Agreement or the corresponding provisions of any First Priority Debt Document, as applicable): (i) the Collateral Trustee shall have the right to
receive any and all dividends, interest, principal or other payments or distributions paid in respect to the Pledged Securities included in the Collateral and hold the 

  
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proceeds thereof in the Collateral Account or make application thereof to the First Priority Secured Obligations in accordance with Section 6.4, (ii) all rights of each Grantor to exercise
or refrain from exercising the voting and other consensual rights which it would otherwise be entitled to exercise pursuant hereto shall cease and all such rights shall thereupon become vested in the Collateral Trustee which shall thereupon have the
sole right, but shall be under no obligation, to exercise or refrain from exercising such voting and other consensual rights and (iii) the Collateral Trustee shall have the right, without notice to any Grantor, to transfer all or any portion of
the Investment Property included in the Collateral to its name or the name of its nominee or agent or the name of the applicable Grantor, endorsed or assigned in blank in favor of the Collateral Trustee, and each Grantor will, upon request, promptly
give to the Collateral Trustee copies of any notices or other communications received by it with respect to Pledged Securities included in the Collateral registered in the name of such Grantor. In addition, if an Event of Default has occurred and is
continuing, the Collateral Trustee shall have the right at any time, without notice to any Grantor, to exchange any certificates or instruments representing any Investment Property included in the Collateral for certificates or instruments of
smaller or larger denominations. In order to permit the Collateral Trustee to exercise the voting and other consensual rights which it may be entitled to exercise pursuant hereto and to receive all dividends and other distributions which it may be
entitled to receive hereunder if an Event of Default has occurred and is continuing and notices have been provided in accordance with this Section 6.2, each Grantor shall promptly execute and deliver (or cause to be executed and delivered) to
the Collateral Trustee all proxies, dividend payment orders and other instruments as the Collateral Trustee may from time to time reasonably request and each Grantor acknowledges that the Collateral Trustee may utilize the power of attorney set
forth herein. All dividends, interest, principal or other payments or distributions received by any Grantor contrary to the provisions of this Section 6.2(b) shall be held for the benefit of the Collateral Trustee, on behalf of the First
Priority Secured Parties, shall be segregated from other property or funds of such Grantor and shall be promptly delivered to the Collateral Trustee promptly following demand in the same form as so received (with any necessary endorsement reasonably
requested by the Collateral Trustee). 
 (c) Any notice given by the Collateral Trustee to the Company or any other Grantor under this
Section 6.2 (i) may be given by telephone if promptly confirmed in writing, (ii) may be given with respect to one or more of the Grantors at the same or different times and (iii) may suspend the rights of the Grantors under paragraph
(a) or (b) of this Section 6.2 in part without suspending all such rights (as specified by the Collateral Trustee) and without waiving or otherwise affecting the Collateral Trustee’s rights to give additional notices from time to time
suspending other rights so long as an Event of Default has occurred and is continuing. 
 (d) Each Grantor hereby authorizes and instructs
each Issuer of any Pledged Securities pledged by such Grantor hereunder to (i) comply with any instruction received by it from the Collateral Trustee in writing that (x) states that an Event of Default has occurred and is continuing and
(y) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from such Grantor, and each Grantor agrees that each Issuer shall be fully protected in so complying, and (ii) unless otherwise
expressly permitted hereby, pay any dividends or other payments with respect to the Pledged Securities directly to the Collateral Trustee. 

  
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 6.3. Proceeds to be Turned Over to Collateral Trustee. Subject to the Collateral
Trust Agreement, if an Event of Default shall occur and be continuing, at the written request of the Controlling Party or upon the commencement of any Collateral Enforcement Action permitted under the Collateral Trust Agreement, all Proceeds of
Collateral received by any Grantor consisting of cash, Cash Equivalents and checks shall be held by such Grantor for the First Priority Secured Parties segregated from other funds of such Grantor, and shall forthwith upon receipt by such Grantor, be
turned over to the Collateral Trustee in the exact form received by such Grantor (duly endorsed by such Grantor to the Collateral Trustee, if reasonably required). All such Proceeds of Collateral received by the Collateral Trustee under this
Section 6.3 shall be held by the Collateral Trustee in the Collateral Account. All such Proceeds while held by the Collateral Trustee in a Collateral Account (or by such Grantor for the First Priority Secured Parties) shall continue to be held
as collateral security for all the First Priority Secured Obligations and shall not constitute payment thereof until applied as provided in Section 6.4. 

6.4. Application of Proceeds. The Collateral Trustee shall apply all or any part of Proceeds constituting Collateral, whether or not
held in any Collateral Account, in payment of the First Priority Secured Obligations at the times and in the manner set forth in the Collateral Trust Agreement. 

6.5. Code and Other Remedies. (a) If an Event of Default shall occur and be continuing, each Grantor agrees to deliver each item of
Collateral to the Collateral Trustee promptly after demand therefor, and it is agreed that the Collateral Trustee, on behalf of the First Priority Secured Parties, may exercise, in addition to all other rights and remedies granted to them in this
Agreement and in any other instrument or agreement securing, evidencing or relating to the First Priority Secured Obligations, all rights and remedies of a secured party under the New York UCC or its rights under any other applicable law or in
equity. Without limiting the generality of the foregoing, the Collateral Trustee, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required under this Section 6.5 or
otherwise required by law referred to below) to or upon any Grantor or any other Person (all and each of which demands, defenses (other than the defense of payment or performance of the Discharge of Obligations), advertisements and notices are
hereby waived to the extent permitted by applicable law), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, or consent to the use by any Grantor of any cash collateral arising in
respect of the Collateral on such terms as the Collateral Trustee deems reasonable, and/or may forthwith sell, lease, license, assign, give option or options to purchase, or otherwise dispose of and deliver, or acquire by credit bid (either directly
or through one or more acquisition vehicles) on behalf of the First Priority Secured Parties, the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange,
broker’s board or office of any First Priority Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any
credit risk, it being understood that any sale pursuant to the provisions of this Section 6.5 shall be deemed to conform to the commercially reasonable standards under the UCC with respect to any disposition of Collateral. Each First Priority
Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption
in any Grantor, which right or equity is hereby waived and released. To the fullest extent 

  
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permitted by applicable law, each purchaser at any such sale shall hold the property sold to it absolutely free from any claim or right on the part of any Grantor, and each Grantor hereby waives
(to the extent permitted by applicable law) all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. Each Grantor agrees that, to the
extent notice of sale shall be required by law, at least ten days’ notice to such Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. The Collateral
Trustee shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Collateral Trustee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and
such sale may, without further notice, be made at the time and place to which it was so adjourned. The Collateral Trustee may sell the Collateral without giving any warranties as to the Collateral. Each such purchaser at any such sale shall hold the
property sold absolutely, free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by law) all rights of redemption, stay and appraisal which such Grantor now has or may at any time in the
future have under any rule of law or statute now existing or hereafter enacted. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Trustee may proceed by a suit or suits at law or in equity to foreclose this
Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. In the event of a foreclosure by the
Collateral Trustee on any of the Collateral pursuant to a public or private sale or other disposition, the Collateral Trustee or any First Priority Secured Party or any designee thereof (either directly or through one or more acquisition vehicles)
may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition, and the Collateral Trustee shall be entitled to, subject to the terms of the Collateral Trust Agreement, as agent for and representative of the
First Priority Secured Parties (but not any First Priority Secured Party or First Priority Secured Parties in its or their respective individual capacities unless the Majority First Priority Secured Parties shall otherwise agree in writing) shall be
entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the First Priority Secured Obligations as a credit on account
of the purchase price for any Collateral payable by the Collateral Trustee on behalf of the First Priority Secured Parties at such sale or other disposition. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof
shall be treated as a sale thereof and the Collateral Trustee shall be free to carry out such sale pursuant to such agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding
the fact that after the Collateral Trustee shall have entered into such an agreement all Event of Defaults shall have been remedied and the First Priority Secured Obligations paid in full. Each Grantor further agrees, at the Collateral
Trustee’s reasonable request, if an Event of Default has occurred and is continuing, to assemble the Collateral and make it available to the Collateral Trustee at places which the Collateral Trustee shall reasonably select, whether at such
Grantor’s premises or elsewhere. 
 (b) The Collateral Trustee shall apply the net proceeds of any action taken by it pursuant to this
Section 6.5, after deducting all reasonable costs and expenses of the Collateral Trustee of every kind incurred in connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral
or the rights of the First Priority Secured Parties hereunder, including reasonable attorneys’ fees and disbursements, to the 

  
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payment in whole or in part of the First Priority Secured Obligations in accordance with Section 6.4 and only after such application and after the payment by the Collateral Trustee of any
other amount required by any provision of law, including Section 9- 615(a) of the New York UCC, need the Collateral Trustee account for the surplus, if any, to any Grantor. If the Collateral Trustee sells
any of the Collateral upon credit, the Grantor will be credited only with payments actually made by the purchaser and received by the Collateral Trustee and applied to Indebtedness of the purchaser. In the event the purchaser fails to pay for the
Collateral, the Collateral Trustee may resell the Collateral and the Grantor shall be credited with proceeds of the sale. To the extent permitted by applicable law, each Grantor waives all claims, damages and demands it may acquire against any First
Priority Secured Party arising out of the exercise by them of any rights hereunder. 
 (c) In view of the position of the Grantors in
relation to the Collateral, or because of other current or future circumstances, a question may arise under the U.S. Securities Act of 1933, as now or hereafter in effect, or any similar statute hereafter enacted analogous in purpose or effect (such
Act and any such similar statute as from time to time in effect being called the “Securities Laws”) with respect to any disposition of the Collateral permitted hereunder. Each Grantor understands that compliance with the Securities
Laws might very strictly limit the course of conduct of the Collateral Trustee if the Collateral Trustee were to attempt to dispose of all or any part of the Collateral, and might also limit the extent to which or the manner in which any subsequent
transferee of any Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Collateral Trustee in any attempt to dispose of all or part of the Collateral under applicable “blue
sky” or other state securities laws or similar laws analogous in purpose or effect. Each Grantor recognizes that in light of such restrictions and limitations the Collateral Trustee may, with respect to any sale of the Collateral, limit the
purchasers to those who will agree, among other things, to acquire such Collateral for their own account, for investment, and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that in light of such
restrictions and limitations, the Collateral Trustee, in its discretion (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such Collateral or part thereof shall have been filed under the
Securities Laws and (b) may approach and negotiate with a limited number of potential purchasers (including a single potential purchaser) to effect such sale; provided that the Collateral Trustee is acting in accordance with the Securities
Laws. Each Grantor acknowledges and agrees that any such sale might result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Collateral Trustee
shall incur no responsibility or liability for selling all or any part of the Collateral at a price that the Collateral Trustee, in its discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a
substantially higher price might have been realized if the sale were deferred until after registration as aforesaid or if more than a limited number of purchasers (or a single purchaser) were approached. 

6.6. Remedies for Intellectual Property. (a) Upon the occurrence and during the continuance of an Event of Default, it is agreed that
the Collateral Trustee shall have the right to take any of or all of the following actions at the same or different times with respect to any Collateral consisting of Intellectual Property, on demand, to cause the security interest granted hereunder
to become an assignment, transfer and conveyance of any of or all such Collateral by the applicable Grantor (other than any Parent Entity) to the Collateral Trustee, for the benefit of 

  
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the First Priority Secured Parties, or to license or sublicense, whether general, special or otherwise, and whether on an exclusive or nonexclusive basis, any such Collateral on such terms and
conditions and in such manner as the Collateral Trustee shall determine; provided, however, that any such actions will be subject to any and all contractual terms governing the assignment, transfer, conveyance, licensing or sublicensing of
such Collateral (including but not limited to the obtaining of consents and waivers). 
 (b) For the purpose of enabling the Collateral
Trustee to exercise rights and remedies under this Agreement at such time as the Collateral Trustee shall be lawfully entitled to exercise such rights and remedies, each Grantor (other than any Parent Entity) hereby grants to the Collateral Trustee
an irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to such Grantor), to use, license or sublicense any of the Collateral consisting of Intellectual Property now owned or hereafter acquired by such
Grantor, and wherever the same may be located, and including in such license access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof,
provided that such license shall automatically terminate upon the Discharge of Obligations. The use of such license by the Collateral Trustee may be exercised only upon the occurrence and during the continuance of an Event of Default; provided,
however, that any license, sublicense or other transaction entered into by the Collateral Trustee in accordance herewith shall be binding upon each Grantor (other than any Parent Entity) notwithstanding any subsequent cure of an Event of Default.
Any license granted herein by a Grantor to or under any of its Trademarks is subject to Grantor’s right to exercise reasonably sufficient quality control to avoid invalidation or abandonment of any such Trademark, and in the event the
Collateral Trustee grants any licenses to any such Trademark pursuant to this Section, the Collateral Trustee or a Grantor must have the right under such license to exercise such quality control. 

6.7. Waiver; Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the
Collateral are insufficient to pay its First Priority Secured Obligations and the fees and disbursements of any attorneys employed by any First Priority Secured Party to collect such deficiency. 

6.8. Governmental Approvals. 

(a) Notwithstanding anything herein to the contrary, this Agreement, the other First Priority Debt Documents and the transactions contemplated
hereby and thereby, prior to the exercise of any rights and remedies provided in this Agreement or the other First Priority Debt Documents, including voting the Pledged Securities or a foreclosure of the security interest granted under this
Agreement, except to the extent not prohibited by applicable Requirement of Law, (i) do not and will not constitute, create, or have the effect of constituting or creating, directly or indirectly, actual or practical ownership of the Company or
any Subsidiary of the Company by the Collateral Trustee or the First Priority Secured Parties, or control, affirmative or negative, director indirect, by the Collateral Trustee or the First Priority Secured Parties over the management or any other
aspect of the operation of the Company or any Subsidiary of the Company, which ownership and control remains exclusively and at all times in the Company and such Subsidiary, and (ii) do not and will not constitute the transfer, assignment, or
disposition in any manner, voluntarily or involuntarily, directly or indirectly, of any Governmental Authorization at any time issued to the Company or any Subsidiary of the Company, or the transfer of control of the Company or any Subsidiary of the
Company, including within the meaning of Section 310(d) of the Communications Act of 1934, as amended. 

  
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 (b) Notwithstanding any other provision of this Agreement, any foreclosure on, sale,
transfer or other disposition of, or the exercise of any right to vote or consent with respect to, any of the Pledged Securities, as provided herein, or any other action taken or proposed to be taken by the Collateral Trustee hereunder which would
affect the operational, voting or other control of the Company or any Subsidiary of the Company, shall be in accordance with applicable Requirements of Law. 

(c) Notwithstanding anything to the contrary contained in this Agreement or in any other First Priority Debt Document, the Collateral Trustee
shall not, without first obtaining the approval of the FCC or any other applicable Governmental Authority, take any action pursuant to this Agreement which would constitute or result in, or be deemed to constitute or result in, any assignment of any
Governmental Authorization, including any FCC License, or any change of control of the Company or any Subsidiary of the Company, if such assignment or change in control would require, under then existing Requirements of Law (including the written
rules and regulations promulgated by the FCC), the prior approval of the FCC or such other Governmental Authority. 
 (d) If the First
Priority Agent or any other Holder Representative reasonably determines that the consent or approval of the FCC or any other Governmental Authority is required in connection with any of the actions which may be taken by the Collateral Trustee in the
exercise of its rights under this Agreement or any of the other First Priority Debt Documents during the continuance of an Event of Default, then the Company, at its sole cost and expense, shall file or cause to be filed such applications for
approval and shall take such other actions, in each case, as reasonably requested by the Controlling Party to obtain such consents or approvals, shall use its commercially reasonable efforts to secure such consent or approval and shall cooperate
fully with the Collateral Trustee in any action to secure such consent or approval. Upon the exercise by the Collateral Trustee of any power, right, privilege or remedy pursuant to this Agreement during the continuance of an Event of Default which
requires any consent, approval, recording, qualification or authorization of the FCC or any other Governmental Authority, the Company will promptly prepare, execute, deliver and file, or will promptly cause the preparation, execution, delivery and
filing of, all applications, certificates, instruments and other documents and papers that the Collateral Trustee or the Controlling Party may reasonably request to obtain such governmental consent, approval, recording, qualification or
authorization including the assignor’s or transferor’s portion of any application or applications for consent to the assignment of license necessary or appropriate under the rules and regulations of the FCC or any other Governmental
Authority for approval of any sale, transfer or assignment to the Collateral Trustee or any other Person of the Pledged Securities. Subject to the provisions of applicable law, if the Company fails or refuses to execute, or fails or refuses to cause
another Person to execute, such documents, the Collateral Trustee, as attorney-in-fact for the Company appointed pursuant to Section 7.1, or the clerk of any court
of competent jurisdiction, may execute and file the same on behalf of the Company. In addition to the foregoing, during the continuance of an Event of Default, the Company agrees to take, or cause to be taken, any action which the Collateral Trustee
or the Controlling Party may reasonably request in order to obtain 

  
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and enjoy the full rights and benefits granted to the First Priority Secured Parties or the Collateral Trustee by this Agreement and any other instruments or agreements executed pursuant hereto,
including, at the Company’s cost and expense, the exercise of the Company’s commercially reasonable efforts to cooperate in obtaining FCC or other governmental approval of any action or transaction contemplated by this Agreement or any
other instrument or agreement executed pursuant hereto which is then required by law. Upon the occurrence and during the continuance of an Event of Default, the Collateral Trustee or the Controlling Party may seek from the FCC an involuntary
transfer of control of any such FCC License for the purpose of seeking a bona fide purchaser to whom control will ultimately be transferred. Upon the occurrence and during the continuance of an Event of Default, at the Collateral Trustee’s
request, the Grantor shall further use their reasonable best efforts to assist in obtaining approval of the FCC, if required, for any action or transactions contemplated hereby, including, without limitation, the preparation, execution and filing
with the FCC of the assignor’s or transferor’s portion of any application for consent to the assignment of any FCC License or transfer of control necessary or appropriate under the FCC’s rules and regulations for approval of the
transfer or assignment of any portion of the Collateral, together with any FCC License or other authorization. 
 SECTION 7. THE COLLATERAL
TRUSTEE 
 7.1. Collateral Trustee’s Appointment as
Attorney-in-Fact, etc. (a) Each Grantor hereby irrevocably constitutes and appoints the Collateral Trustee and any officer or agent thereof, with full power of
substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or
in its own name, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this
Agreement, and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Trustee the power and right (but, for the avoidance of doubt, not the obligation), on behalf of such Grantor, without notice to or assent by
such Grantor, to do any or all of the following, in each case subject to the terms of the First Priority Debt Documents: 

(i) [reserved]; 

(ii) in the case of any Intellectual Property owned by such Grantor and constituting Collateral, execute and deliver, and
record or have recorded, any and all agreements, instruments, documents and papers as the First Priority Agent may reasonably request to evidence the First Priority Secured Parties’ security interest in such Intellectual Property and the
goodwill and general intangibles of such Grantor relating thereto or represented thereby; 
 (iii) pay or discharge taxes and
Liens (other than Permitted Liens) levied or placed on or threatened against the Collateral, effect any repairs or any insurance called for by the terms of this Agreement and pay all or any part of the premiums therefor and the costs thereof;
provided, however, that if such taxes are being contested in good faith and by appropriate proceedings, the Collateral Trustee will consult with such Grantor before making any such payment; 

  
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 (iv) execute, in connection with the exercise of any right or remedy
provided for in Section 6 hereof, any endorsements, assignments or other instruments of conveyance or transfer with respect to the Collateral; and 

(v) (1) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to
become due thereunder directly to the Collateral Trustee or as the Collateral Trustee shall direct; (2) ask or demand for, collect, and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any
time in respect of or arising out of any Collateral and to give discharges and releases of all or any of the Collateral; (3) sign and endorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts against
debtors, assignments, verifications, notices and other documents in connection with any of the Collateral; (4) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the
Collateral or any portion thereof and to enforce any other right in respect of any Collateral; (5) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral; (6) subject to the relevant
Grantor’s approval, settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such discharges or releases as the Collateral Trustee may deem appropriate; (7) assign any Patent or Trademark (along
with the goodwill of the business to which any such Trademark pertains and subject to the covenant set forth in Section 6.6(b) hereof) included in the Collateral, for such term or terms, on such conditions, and in such manner, as the Collateral
Trustee shall determine; and (8) generally, sell, transfer, pledge and make any agreement with respect to, or consent to any use of cash collateral arising in respect of, or otherwise deal with any of the Collateral as fully and completely as
though the Collateral Trustee were the absolute owner thereof for all purposes, and do, at the Collateral Trustee’s option and such Grantor’s expense, at any time, or from time to time, all acts and things which the Collateral Trustee
reasonably deems necessary to protect, preserve or realize upon the Collateral and the First Priority Secured Parties’ security interests therein and to effect the intent of this Agreement, all as fully and effectively as such Grantor might do,
subject in each case to Section 6.8. 
 Anything in this Section 7.1(a) to the contrary notwithstanding, the Collateral Trustee
agrees that it will not exercise any rights under the power of attorney provided for in this Section 7.1(a) unless an Event of Default shall have occurred and be continuing and the Collateral Trustee shall have given the Company prior written
notice of its intent to exercise remedies under this Agreement. 
 (b) The reasonable and documented expenses of the Collateral Trustee
incurred in connection with actions undertaken as provided in this Section 7.1, together with interest thereon at a rate per annum equal to the rate per annum at which interest would then be payable on past due “ABR Loans” or
“base rate loans” (or similar term) (regardless of whether “ABR Loans” or “base rate loans” (or similar term) are then outstanding) under the Initial Syndicated Credit Agreement or, if the Initial Syndicated Credit
Agreement is no longer in effect, any other syndicated credit agreement of the Company, from the date of payment by the Collateral Trustee to the date reimbursed by the relevant Grantor, shall be payable by such Grantor to the Collateral Trustee on
demand and shall constitute First Priority Secured Obligations hereunder and under the First Priority Debt Documents. 

  
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 (c) Each First Priority Secured Party, by its authorization of the Collateral Trustee’s
entering into this Agreement, consents to the exercise by the Collateral Trustee of any power, right or remedy provided for herein. All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable
until the termination of this Agreement. 
 7.2. Duty of Collateral Trustee. Neither the Collateral Trustee nor any other First
Priority Secured Party nor any of their respective officers, directors, partners, employees, agents, attorneys and other advisors, attorneys-in-fact or affiliates shall
be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor or any other Person or to
take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on the First Priority Secured Parties hereunder are solely to protect the First Priority Secured Parties’ interests in the Collateral and
shall not impose any duty upon any First Priority Secured Party to exercise any such powers. The First Priority Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither
they nor any of their officers, directors, partners, employees, agents, attorneys and other advisors, attorneys-in-fact or affiliates shall be responsible to any Grantor
for any act or failure to act hereunder, except to the extent that any such act or failure to act is found by a final and non-appealable decision of a court of competent jurisdiction to have resulted directly
from their own gross negligence or willful misconduct. 
 7.3. Financing Statements; Intellectual Property Filings. (a) Each Grantor
hereby authorizes the Collateral Trustee to file or record financing or continuation statements, and amendments thereto, and other filing or recording documents or instruments with respect to the Collateral in such form and in such offices as the
Collateral Trustee reasonably determines appropriate to perfect or maintain the perfection of the security interests of the Collateral Trustee under this Agreement. Each Grantor agrees that such financing statements may describe the collateral in
the same manner as described in the First Priority Security Documents or as “all assets” or “all personal property” of the undersigned, whether now owned or hereafter existing or acquired by the undersigned or such
other description as the Collateral Trustee reasonably determines is necessary or advisable. Notwithstanding the foregoing authorizations, each Grantor agrees to prepare, record and file, at its own expense, such financing statements (and amendments
or continuation statements when applicable) with respect to the Collateral now existing or hereafter created meeting the requirements of applicable state law in such manner and in such jurisdictions as are reasonably requested by the First Priority
Agent (or, if there is no First Priority Agent that is the agent in respect of any loan agreement, as the Company determines is necessary or desirable) to perfect and maintain perfected the Security Interest in the Collateral, and to deliver a file
stamped copy of each such financing statement or other evidence of filing to the Collateral Trustee. 

  
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 (b) The Collateral Trustee is authorized to file with the United States Patent and Trademark
Office (“USPTO”) (or any successor office) such documents as may be necessary or advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the security interest in each item of Registered Intellectual
Property of each Grantor included in the Collateral, and naming any Grantor or the Grantors as debtors and the Collateral Trustee as secured party and shall provide written notice to the Grantor prior to filing any such documents; provided that the
failure to provide such prior notice shall not impact the effectiveness of any such filing or security interest. Notwithstanding the foregoing authorizations, each Grantor agrees to prepare, record and file, at its own expense, such filings with the
USPTO with respect to the United States Intellectual Property constituting Collateral now existing or hereafter created meeting the requirements of applicable law as are reasonably requested by any First Priority Agent (or, if there is no First
Priority Agent that is the agent in respect of any loan agreement, as the Company determines is necessary or desirable) to perfect and maintain perfected the Security Interest in the Collateral, and to deliver evidence of filing to the Collateral
Trustee. 
 7.4. Authority of Collateral Trustee. Each Grantor acknowledges that the rights and responsibilities of the Collateral
Trustee under this Agreement with respect to any action taken by the Collateral Trustee or the exercise or non-exercise by the Collateral Trustee of any option, voting right, request, judgment or other right
or remedy provided for herein or resulting or arising out of this Agreement shall, as between the Collateral Trustee and the other First Priority Secured Parties, be governed by the Collateral Trust Agreement and by such other agreements with
respect thereto as may exist from time to time among them, but, as between the Collateral Trustee and the Grantors, the Collateral Trustee shall be presumed to be acting as agent for the First Priority Secured Parties with full and valid authority
so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make any inquiry respecting such authority. 

7.5. Concerning the Collateral Trustee. The Collateral Trustee shall be afforded all of the same rights, protections, immunities and
indemnities afforded to it under the Collateral Trust Agreement as if the same were specifically set forth herein, mutatis mutandis. 

SECTION 8. [RESERVED] 
 SECTION 9.
MISCELLANEOUS 
 9.1. Amendments in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented
or otherwise modified except (i) in accordance with Section 6.3 of the Collateral Trust Agreement, (ii) pursuant to an Assumption Agreement or (iii) with respect to the Schedules to this Agreement, such Schedules may be amended
or supplemented by any Grantor at any time by delivering such amended or supplemented schedule to the Collateral Trustee. 
 9.2.
Notices. All notices, requests and demands to or upon the Collateral Trustee or any Grantor hereunder shall be effected in the manner provided for in Section 9.1 of the Collateral Trust Agreement; provided that any such notice, request
or demand to or upon any Grantor (other than Parent or the Company) shall be addressed to such Grantor at its notice address set forth on Schedule 1 (as such schedule may be amended from time to time). 

  
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 9.3. No Waiver by Course of Conduct; Cumulative Remedies. Neither the Collateral
Trustee nor any First Priority Secured Party shall by any act (except by a written instrument pursuant to Section 6.1), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any
Event of Default. No failure to exercise, nor any delay in exercising, on the part of the Collateral Trustee or any First Priority Secured Party, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial
exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by the Collateral Trustee or any First Priority Secured Party of any right or
remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Collateral Trustee or such First Priority Secured Party would otherwise have on any future occasion. The rights and remedies herein provided are
cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law. 
 9.4.
Enforcement Expenses; Indemnification. 
 (a) The parties hereto agree that the Collateral Trustee shall be entitled to
indemnification and to reimbursement of its expenses incurred hereunder as provided in Section 4.5 of the Collateral Trust Agreement as if such section were set out in full herein and references to “the Company” therein were
references to each Grantor, jointly and severally. 
 (b) Each Grantor agrees, jointly and severally, to pay, and to save the Collateral
Trustee and the other First Priority Secured Parties harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes which may be payable or determined to be payable with
respect to any of the Collateral to the extent the Company would be required to do so pursuant to Section 9.3 of the Initial Syndicated Credit Agreement (and any corresponding provisions of the other First Priority Debt Documents). 

(c) The agreements in this Section 9.4 shall survive resignation or removal of the Collateral Trustee and repayment of the First Priority
Secured Obligations and all other amounts payable under the First Priority Debt Documents. 
 9.5. Successors and Assigns. This
Agreement shall be binding upon the successors and assigns of each Grantor and shall inure to the benefit of the Collateral Trustee and the other First Priority Secured Parties and their successors and assigns; provided that, to the extent
prohibited or restricted by the terms of any First Priority Debt Document, no Grantor may assign, transfer or delegate any of its rights or obligations under this Agreement without the prior written consent of the Collateral Trustee. 

9.6. [Reserved]. 
 9.7.
Counterparts; Integration. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single
contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission (e.g., “PDF” or “TIFF”) shall be effective as delivery of a manually executed
counterpart of this Agreement. This Agreement and the other First Priority Debt Documents constitute the entire contract among the parties hereto and thereto, as applicable, relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter hereof. 

  
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 9.8. Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the
invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 9.9.
Section Headings. The Section headings used in this Agreement are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

9.10. GOVERNING LAW. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE)
BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 

9.11. Jurisdiction; Consent to Service of Process. 

(a) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of
the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York sitting in New York County, and any appellate court from any thereof, in any action or proceeding
arising out of or relating to this Agreement or any other First Priority Debt Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any
such action or proceeding shall be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Notwithstanding the foregoing, the Collateral Trustee may bring an action or proceeding in other jurisdictions in respect of its rights under
any First Priority Security Document governed by a law other than the laws of the State of New York or, with respect to the Collateral, in a jurisdiction where such Collateral is located. 

(b) Each of the parties hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any
objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other First Priority Debt Document in any court referred to in paragraph (a) of this
Section 9.11. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

  
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 (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.2. Nothing in this Agreement or any other First Priority Debt Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

9.12. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER FIRST PRIORITY DEBT DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

9.13. Acknowledgments. Each Grantor hereby acknowledges that: 

(a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other First Priority Debt Documents to
which it is a party; 
 (b) neither the Collateral Trustee nor any other First Priority Secured Party has any fiduciary relationship with or
duty to any Grantor arising out of or in connection with this Agreement or any of the other First Priority Debt Documents, and the relationship between the Grantors, on the one hand, and the Collateral Trustee and other First Priority Secured
Parties, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and 
 (c) no joint venture is created
hereby or by the other First Priority Debt Documents or otherwise exists by virtue of the transactions contemplated hereby among the First Priority Secured Parties or among the Grantors and the First Priority Secured Parties. 

9.14. Additional Grantors; Releases. 

(a) Each Person that is required to, or that Parent or the Company shall elect to, become a party to this Agreement pursuant to the Collateral
Trust Agreement or any other First Priority Debt Document shall become a Grantor for all purposes of this Agreement upon execution and delivery by such Subsidiary (an “Additional Grantor”) of an Assumption Agreement in the form of
Annex 1 hereto. 
 (b) The Liens on any asset constituting Collateral granted hereby securing all or any series of First Priority Secured
Obligations will be released, in whole or in part, as provided in the Collateral Trust Agreement. The First Priority Secured Obligations created by this Agreement in respect of any Grantor (and all security interests granted by such Grantor
hereunder) shall terminate and be released with respect to all or any series of First Priority Secured Obligations as provided in the Collateral Trust Agreement. Any representation, warranty or covenant contained in this Agreement relating to any
such asset or Grantor shall no longer be deemed to be made with respect thereto once the Liens on such asset granted pursuant to this Agreement are released or this Agreement is terminated as to such Grantor. 

  
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 (c) Upon Discharge of Obligations, all Liens created hereunder shall automatically terminate
and be released, without the requirement for any further action by any Person and the Collateral Trustee shall, subject to the terms of the Collateral Trust Agreement (including the Collateral Trustee’s receipt of any officer’s
certificate(s) or opinion(s) of counsel it may be entitled to thereunder) promptly execute any such documents as may be reasonably requested and prepared by Parent or the Company and at the Company’s expense to further document and evidence
such termination and release of Liens created hereunder (including by way of assignment), and the First Priority Secured Obligations shall automatically terminate and be released, without the requirement for any further action by any Person and the
Collateral Trustee shall promptly take such action and execute any such documents as may be reasonably requested by Parent or the Company and at the Company’s expense to further document and evidence such termination and release of the First
Priority Secured Obligations; it being understood that the Collateral Trustee shall have no obligation to prepare any such requested documents. 

9.15. Certain Specified Collateral. Notwithstanding anything to the contrary in this Collateral Agreement, the parties hereto
acknowledge that, from and after the Closing Date, any Grantor or any of their Subsidiaries may, by written notice to the Collateral Trustee, elect to provide additional collateral for the benefit of the holders of any series of First Priority
Secured Obligations, without providing such additional collateral for the benefit of the holders of any other series of First Priority Secured Obligations so long as such provision is not in violation of any First Priority Debt Documents (such
collateral, the “Specified Collateral” and the First Priority Secured Obligations secured by such collateral, the “Specified First Priority Secured Obligations”). The security interest in any such Specified
Collateral shall be held solely for the benefit of the holders of the series of First Priority Secured Obligations specified in such notice, and the rights of the holders of all First Priority Secured Obligations set forth herein shall be modified
to the extent necessary so that the benefits of the security interest in such Specified Collateral are granted solely to the holders of such designated series of First Priority Secured Obligations. To the extent any Specified Collateral would
otherwise have been an Excluded Asset, any reference in this Agreement to “Excluded Assets” shall be deemed to refer to such Specified Collateral only with respect to the First Priority Secured Obligations other than the applicable
Specified First Priority Secured Obligations. 
 9.16. Successor Collateral Trustee. Upon the appointment of any successor to the
Collateral Trustee pursuant to Section 8.9 of the Collateral Trust Agreement, such successor shall thereupon automatically succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Trustee under
this Agreement and all references to the Collateral Trustee herein shall refer to such successor, and the retiring Collateral Trustee shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral
Trustee’s resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement. 

  
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 9.17. Collateral Trust Agreement Governs. In the event of any conflict or
inconsistency between the provisions of the Collateral Trust Agreement and this Agreement with respect to the Collateral and Liens securing the First Priority Secured Obligations, the provisions of the Collateral Trust Agreement shall prevail. 

9.18. Electronic Execution. The words “execution,” “signed,” “signature,” “delivery,” and words
of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form,
each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable law, the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that,
in respect of documents to be signed by entities established within the European Union, the Electronic Signature qualifies as a “qualified electronic signature” within the meaning of the Regulation (EU) n°910/2014 of the European
parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transaction in the internal market as amended from time to time Each party hereby consents to the use of any third party electronic
signature capture service providers as may be reasonably chosen by a signatory hereof; provided that nothing herein shall require the Collateral Trustee to accept Electronic Signatures in any form or format without its prior written consent.

 (signature pages follow) 

  
 31 

 IN WITNESS WHEREOF, each of the undersigned has caused this Collateral Agreement to be duly
executed and delivered as of the date first above written. 
  

					
	COMPANY:
	
	T-MOBILE USA, INC.
		
	By:	 	 /s/ J. Braxton Carter

		 	Name:	 	J. Braxton Carter
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

 [Signature Page to Collateral Agreement] 

					
	GUARANTORS:
	
	T-MOBILE US, INC.
		
	By:	 	 /s/ J. Braxton Carter

		 	Name:	 	J. Braxton Carter
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

 [Signature Page to Collateral Agreement] 

 IBSV LLC 

LAYER3 TV, INC. 
 L3TV CHICAGOLAND CABLE SYSTEM, LLC 

L3TV COLORADO CABLE SYSTEM, LLC 
 L3TV DALLAS CABLE SYSTEM, LLC

 L3TV DC CABLE SYSTEM, LLC 
 L3TV DETROIT CABLE SYSTEM, LLC

 L3TV LOS ANGELES CABLE SYSTEM, LLC 
 L3TV MINNEAPOLIS CABLE
SYSTEM, LLC 
 L3TV NEW YORK CABLE SYSTEM, LLC 
 L3TV
PHILADELPHIA CABLE SYSTEM, LLC 
 L3TV SAN FRANCISCO CABLE SYSTEM, LLC 

L3TV SEATTLE CABLE SYSTEM, LLC 
 METROPCS CALIFORNIA, LLC 

METROPCS FLORIDA, LLC 
 METROPCS GEORGIA, LLC 

METROPCS MASSACHUSETTS, LLC 
 METROPCS MICHIGAN, LLC 

METROPCS NETWORKS CALIFORNIA, LLC 
 METROPCS NETWORKS FLORIDA, LLC

 METROPCS NEVADA, LLC 
 METROPCS NEW YORK, LLC 

METROPCS PENNSYLVANIA, LLC 
 METROPCS TEXAS, LLC 

PUSHSPRING, INC. 

T-MOBILE CENTRAL LLC 
 T-MOBILE FINANCIAL LLC 
 T-MOBILE LEASING LLC 

T-MOBILE LICENSE LLC 
 T-MOBILE NORTHEAST LLC 
 T-MOBILE PCS HOLDINGS LLC 

T-MOBILE PUERTO RICO HOLDINGS LLC 

T-MOBILE PUERTO RICO LLC 

T-MOBILE RESOURCES CORPORATION 

T-MOBILE SOUTH LLC 
 T-MOBILE SUBSIDIARY IV LLC 
 T-MOBILE WEST LLC 

THEORY MOBILE, INC. 
  

			
	By:	 	 /s/ J. Braxton Carter

		 	Name: J. Braxton Carter
		 	Title:   Authorized Person

 [Signature Page to Collateral Agreement] 

 ALDA WIRELESS HOLDINGS, LLC 

AMERICAN TELECASTING DEVELOPMENT, LLC 
 AMERICAN TELECASTING OF
ANCHORAGE, LLC 
 AMERICAN TELECASTING OF COLUMBUS, LLC 

AMERICAN TELECASTING OF DENVER, LLC 
 AMERICAN TELECASTING OF FORT
MYERS, LLC 
 AMERICAN TELECASTING OF FT. COLLINS, LLC 

AMERICAN TELECASTING OF GREEN BAY, LLC 
 AMERICAN TELECASTING OF
LANSING, LLC 
 AMERICAN TELECASTING OF LINCOLN, LLC 
 AMERICAN
TELECASTING OF LITTLE ROCK, LLC 
 AMERICAN TELECASTING OF LOUISVILLE, LLC 

AMERICAN TELECASTING OF MEDFORD, LLC 
 AMERICAN TELECASTING OF
MICHIANA, LLC 
 AMERICAN TELECASTING OF MONTEREY, LLC 

AMERICAN TELECASTING OF REDDING, LLC 
 AMERICAN TELECASTING OF
SANTA BARBARA, LLC 
 AMERICAN TELECASTING OF SEATTLE, LLC 

AMERICAN TELECASTING OF SHERIDAN, LLC 
 AMERICAN TELECASTING OF
YUBA CITY, LLC 
 APC REALTY AND EQUIPMENT COMPANY, LLC 

ASSURANCE WIRELESS OF SOUTH CAROLINA, LLC 
 ASSURANCE WIRELESS
USA, L.P. 
 ATI SUB, LLC 
 BOOST WORLDWIDE, LLC 

BROADCAST CABLE, LLC 
 CLEAR WIRELESS LLC 

CLEARWIRE COMMUNICATIONS LLC 
 CLEARWIRE CORPORATION 

CLEARWIRE HAWAII PARTNERS SPECTRUM, LLC 
 CLEARWIRE IP HOLDINGS
LLC 
 CLEARWIRE LEGACY LLC 
 CLEARWIRE SPECTRUM HOLDINGS II LLC

 CLEARWIRE SPECTRUM HOLDINGS III LLC 
 CLEARWIRE SPECTRUM
HOLDINGS LLC 
 CLEARWIRE XOHM LLC 
 FIXED WIRELESS HOLDINGS,
LLC 
 FRESNO MMDS ASSOCIATES, LLC 
 INDEPENDENT WIRELESS ONE
LEASED REALTY CORPORATION 
 KENNEWICK LICENSING, LLC 
 MINORCO,
LLC 
  

			
	By:	 	 /s/ Jud Henry

		 	Name: Jud Henry
		 	Title:   Vice President and Treasurer

 [Signature Page to Collateral Agreement] 

 NEXTEL COMMUNICATIONS OF THE MID-ATLANTIC, INC. 

NEXTEL OF NEW YORK, INC. 
 NEXTEL RETAIL STORES, LLC 

NEXTEL SOUTH CORP. 
 NEXTEL SYSTEMS, LLC 

NEXTEL WEST CORP. 
 NSAC, LLC 

PCTV GOLD II, LLC 
 PCTV SUB, LLC 

PEOPLE’S CHOICE TV OF HOUSTON, LLC 
 PEOPLE’S CHOICE TV
OF ST. LOUIS, LLC 
 PRWIRELESS PR, LLC 
 SIHI NEW ZEALAND
HOLDCO, INC. 
 SN HOLDINGS (BR I) LLC 
 SN UHC 1, INC. 

SN UHC 3, INC. 
 SN UHC 4, INC. 

SPEEDCHOICE OF DETROIT, LLC 
 SPEEDCHOICE OF PHOENIX, LLC 

SPRINT (BAY AREA), LLC 
 SPRINT COMMUNICATIONS COMPANY L.P. 

SPRINT COMMUNICATIONS COMPANY OF NEW HAMPSHIRE, INC. 
 SPRINT
COMMUNICATIONS COMPANY OF VIRGINIA, INC. 
 SPRINT CONNECT LLC 

SPRINT CORPORATION 
 SPRINT CORPORATION 

SPRINT EBUSINESS, INC. 
 SPRINT ENTERPRISE MOBILITY, LLC 

SPRINT ENTERPRISE NETWORK SERVICES, INC. 
 SPRINT EWIRELESS, INC.

 SPRINT HOLDCO, LLC 
 SPRINT INTERNATIONAL COMMUNICATIONS
CORPORATION 
 SPRINT INTERNATIONAL HOLDING, INC. 
 SPRINT
INTERNATIONAL INCORPORATED 
 SPRINT INTERNATIONAL NETWORK COMPANY LLC 

SPRINT PCS ASSETS, L.L.C. 
 SPRINT SOLUTIONS, INC. 

SPRINT SPECTRUM HOLDING COMPANY, LLC 
 SPRINT SPECTRUM L.P. 

SPRINT SPECTRUM REALTY COMPANY, LLC 
 SPRINT/UNITED MANAGEMENT
COMPANY 
  

			
	By:	 	 /s/ Jud Henry

		 	Name: Jud Henry
		 	Title:   Vice President and Treasurer

 [Signature Page to Collateral Agreement] 

 SPRINTCOM, INC. 

SWV SIX, INC. 
 TDI ACQUISITION SUB, LLC 

TRANSWORLD TELECOM II, LLC 
 US TELECOM, INC. 

USST OF TEXAS, INC. 
 UTELCOM LLC 

VIRGIN MOBILE USA – EVOLUTION, LLC 
 VMU GP, LLC 

WBS OF AMERICA, LLC 
 WBS OF SACRAMENTO, LLC 

WBSY LICENSING, LLC 
 WCOF, LLC 

WIRELESS BROADBAND SERVICES OF AMERICA, L.L.C. 
 WIRELINE LEASING
CO., INC. 
  

			
	By:	 	 /s/ Jud Henry

		 	Name: Jud Henry
		 	Title:   Vice President and Treasurer

 [Signature Page to Collateral Agreement] 

 
			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Collateral Trustee
		
	By:	 	 /s/ Annie Jaghatspanyan

		 	Name: Annie Jaghatspanyan
		 	Title:   Vice President
		
	By:	 	 /s/ James Briggs

		 	Name: James Briggs
		 	Title:   Vice President

 [Signature Page to Collateral Agreement]EX-10.8

 Exhibit 10.8 
  

 
  

COLLATERAL TRUST AND INTERCREDITOR AGREEMENT 

Dated as of April 1, 2020 

among 
 T-MOBILE US, INC., 
 T-MOBILE USA, INC., 

and 
 CERTAIN OF THEIR SUBSIDIARIES
PARTIES HERETO, 
 as Grantors 

DEUTSCHE BANK AG NEW YORK BRANCH, 

as First Priority Agent 
 Each of
the Holder Representatives party hereto, 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Collateral Trustee 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	 PREAMBLE
	  	 	1	 
		
	 DECLARATION OF TRUST:
	  	 	1	 
		
	 SECTION 1. DEFINED TERMS
	  	 	2	 
			
	 1.1
	 	 Definitions
	  	 	2	 
		
	 SECTION 2. ENFORCEMENT OF SECURED OBLIGATIONS
	  	 	17	 
			
	 2.1
	 	 Notices of Events of Default
	  	 	17	 
	 2.2
	 	 General Authority of the Collateral Trustee over the Collateral
	  	 	18	 
	 2.3
	 	 Right to Initiate Judicial Proceedings
	  	 	18	 
	 2.4
	 	 Right to Appoint a Receiver
	  	 	18	 
	 2.5
	 	 Exercise of Powers; Instructions of the Controlling Party
	  	 	19	 
	 2.6
	 	 Remedies Not Exclusive
	  	 	19	 
	 2.7
	 	 Waiver and Estoppel
	  	 	20	 
	 2.8
	 	 Limitation on Collateral Trustee’s Duty in Respect of Collateral
	  	 	20	 
	 2.9
	 	 Limitation by Law
	  	 	20	 
	 2.10
	 	 Rights of Secured Parties under Secured Instruments
	  	 	21	 
	 2.11
	 	 Collateral Use Prior to Event of Default
	  	 	21	 
	 2.12
	 	 Copies to Company
	  	 	22	 
		
	 SECTION 3. COLLATERAL ACCOUNT; DISTRIBUTIONS
	  	 	22	 
			
	 3.1
	 	 The Collateral Account
	  	 	22	 
	 3.2
	 	 Control of Collateral Account
	  	 	22	 
	 3.3
	 	 Investment of Funds Deposited in Collateral Account
	  	 	22	 
	 3.4
	 	 Application of Moneys
	  	 	23	 
	 3.5
	 	 Amounts Held for Contingent Secured Obligations
	  	 	25	 
	 3.6
	 	 Collateral Trustee’s Calculations
	  	 	26	 
	 3.7
	 	 Pro Rata Sharing
	  	 	26	 
	 3.8
	 	 Collateral Account Information and Access
	  	 	26	 
		
	 SECTION 4. AGREEMENTS WITH COLLATERAL TRUSTEE
	  	 	26	 
			
	 4.1
	 	 Delivery of Secured Instruments
	  	 	26	 
	 4.2
	 	 Compensation and Expenses
	  	 	27	 
	 4.3
	 	 Stamp and Other Similar Taxes
	  	 	27	 
	 4.4
	 	 Filing Fees, Etc.
	  	 	27	 
	 4.5
	 	 Indemnification
	  	 	28	 
	 4.6
	 	 Trustee’s Lien
	  	 	28	 
	 4.7
	 	 Further Assurances
	  	 	28	 
	 4.8
	 	 Inspection of Properties and Books
	  	 	29	 

  
 -i- 

							
	 	 	 	  	Page	 
	 SECTION 5. THE COLLATERAL TRUSTEE
	  	 	29	 
			
	 5.1
	 	 Acceptance of Trust
	  	 	29	 
	 5.2
	 	 Exculpatory Provisions
	  	 	29	 
	 5.3
	 	 Delegation of Duties
	  	 	31	 
	 5.4
	 	 Reliance by Collateral Trustee
	  	 	31	 
	 5.5
	 	 Limitations on Duties of Trustee
	  	 	32	 
	 5.6
	 	 Moneys to be Held in Trust
	  	 	33	 
	 5.7
	 	 Resignation and Removal of the Collateral Trustee
	  	 	33	 
	 5.8
	 	 Status of Successor Collateral Trustee
	  	 	34	 
	 5.9
	 	 Merger of the Collateral Trustee
	  	 	34	 
	 5.10
	 	 Co-Collateral Trustee; Separate Collateral
Trustee
	  	 	34	 
	 5.11
	 	 Treatment of Payee or Indorsee by Collateral Trustee; Representatives of Secured
Parties
	  	 	36	 
		
	 SECTION 6. MISCELLANEOUS
	  	 	36	 
			
	 6.1
	 	 Notices
	  	 	36	 
	 6.2
	 	 No Waivers
	  	 	36	 
	 6.3
	 	 Amendments, Supplements and Waivers
	  	 	36	 
	 6.4
	 	 Holders of Secured Non-Loan Exposure
	  	 	38	 
	 6.5
	 	 Headings
	  	 	39	 
	 6.6
	 	 Severability
	  	 	39	 
	 6.7
	 	 Successors and Assigns
	  	 	39	 
	 6.8
	 	 Currency Conversions
	  	 	39	 
	 6.9
	 	 Acknowledgements
	  	 	39	 
	 6.10
	 	 Governing Law
	  	 	39	 
	 6.11
	 	 Counterparts
	  	 	39	 
	 6.12
	 	 Termination and Release
	  	 	40	 
	 6.13
	 	 New Grantors
	  	 	41	 
	 6.14
	 	 Inspection by Regulatory Agencies
	  	 	41	 
	 6.15
	 	 Confidentiality
	  	 	42	 
	 6.16
	 	 Submission to Jurisdiction; Waivers
	  	 	42	 
	 6.17
	 	 WAIVERS OF JURY TRIAL
	  	 	42	 
	 6.18
	 	 Conflicts
	  	 	43	 
	 6.19
	 	 Consequential Damages
	  	 	43	 
	 6.20
	 	 Force Majeure
	  	 	43	 
	 6.21
	 	 USA PATRIOT Act
	  	 	43	 
	 6.22
	 	 Incorporation by Reference
	  	 	43	 
		
	 SECTION 7. DESIGNATION OF ADDITIONAL SECURED OBLIGATIONS
	  	 	43	 
			
	 7.1
	 	 Designations of Secured Obligations
	  	 	43	 
	 7.2
	 	 Termination of Designation
	  	 	44	 
		
	 SECTION 8. INTERCREDITOR PROVISIONS
	  	 	45	 
			
	 8.1
	 	 Junior Priority Debt
	  	 	45	 
	 8.2
	 	 First Priority Debt
	  	 	51	 
	 8.3
	 	 First Priority Secured Obligations Unconditional
	  	 	53	 
	 8.4
	 	 Collateral
	  	 	53	 
	 8.5
	 	 Certain Specified Collateral
	  	 	53	 
	 8.6
	 	 Information Concerning Financial Condition of the Grantors
	  	 	54	 
	 8.7
	 	 Similar Liens and Agreements
	  	 	54	 

  
 -ii- 

 ANNEXES 
  

	 	I	 Trust Security Documents 

EXHIBITS 
  

	 	A	 Form of Notice of Event of Default 

 

	 	B	 Form of Notice of Acceleration 

 

	 	C	 Form of Joinder Agreement 

 

	 	D	 Form of Notice of Designation 

 

	 	E	 Form of Notice of Cancellation 

  
 -iii- 

 COLLATERAL TRUST AND INTERCREDITOR AGREEMENT, dated as of April 1, 2020, among T-MOBILE US, INC., a Delaware corporation (“Parent”), T-MOBILE USA, INC., a Delaware corporation (the “Company”), the subsidiaries of Parent
from time to time parties hereto (together with Parent and the Company, the “Grantors”), DEUTSCHE BANK AG NEW YORK BRANCH, as First Priority Agent (as defined below), each Holder Representative (as defined below) from time to time
party hereto, and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, as Collateral Trustee (together with any successors, the “Collateral Trustee”). 

W I T N E S S E T H: 

WHEREAS, Parent, the Company and the other Grantors have agreed to secure certain of their obligations from time to time outstanding: 

DECLARATION OF TRUST: 
 NOW,
THEREFORE, in order to secure the prompt and complete payment and performance when due of the Secured Obligations (such term and certain other capitalized terms used hereinafter being defined in subsection 1.1) and in consideration of the premises
and the mutual agreements set forth herein, the Collateral Trustee does hereby declare that it holds and will hold in trust under this Collateral Trust Agreement all of its right, title and interest in, to and under the Trust Security Documents and
the collateral granted to the Collateral Trustee thereunder whether now existing or hereafter arising (and the Grantors do hereby consent thereto). 

TO HAVE AND TO HOLD the Trust Security Documents and the entire Collateral (the right, title and interest of the Collateral Trustee in, to and
under the Trust Security Documents and the Collateral being hereinafter referred to as the “Trust Estate”) unto the Collateral Trustee and its successors in trust under this Collateral Trust Agreement and its assigns in accordance
with the terms of this Collateral Trust Agreement. 
 IN TRUST NEVERTHELESS, under and subject to the conditions herein set forth and for
the benefit of the Secured Parties, and for the security of the payment of all Secured Obligations, and as security for the performance of and compliance with the covenants and conditions of this Collateral Trust Agreement, each of the Secured
Instruments and each of the Trust Security Documents. 
 PROVIDED, HOWEVER, that these presents are upon the condition that if the Grantors,
their successors or assigns, shall satisfy the conditions set forth in subsection 6.12(a), then this Collateral Trust Agreement, and the estates and rights hereby assigned, shall cease, determine and be void; otherwise they shall remain and be in
full force and effect. 
 IT IS HEREBY FURTHER COVENANTED AND DECLARED, that the Trust Estate is to be held and applied by the Collateral
Trustee, subject to the further covenants, conditions and trusts hereinafter set forth. 

 SECTION 1. 

DEFINED TERMS 
 1.1
Definitions. 
 (a) Unless otherwise defined herein, terms defined in the Initial Syndicated Credit Agreement and used herein shall
have the meanings given to them in the Initial Syndicated Credit Agreement. 
 (b) The following terms shall have the respective meanings set
forth below: 
 “Acceleration Event” shall mean, with respect to any Secured Obligations, (i) such
Secured Obligations are currently due and payable in full and have not been paid in full and any applicable grace period has expired or (ii) an Event of Default has occurred under the relevant Secured Instrument and, as a result thereof, all
such Secured Obligations outstanding have become due and payable and have not been paid in full. 
 “Bankruptcy
Code” shall mean the United States Bankruptcy Code (11 U.S.C. §101 et seq.), as amended from time to time. 

“Bankruptcy Law” shall mean each of the Bankruptcy Code and any similar federal, state or foreign law for the
relief of debtors. 
 “Business Day” shall mean any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed or are in fact closed. 

“Class” shall mean, as the context may require, the First Priority Class or the Junior Priority Class.

 “Collateral” shall mean, collectively, all collateral in which the Collateral Trustee is granted (or
purported to be granted) a security interest pursuant to any Trust Security Document. 
 “Collateral
Account” shall have the meaning assigned in subsection 3.1. 
 “Collateral Enforcement Action”
shall mean, with respect to any Secured Party, for such Secured Party, whether or not in consultation with any other Secured Party, to exercise, seek to exercise or join any Person in exercising, or to institute or to maintain or to participate in
any action or proceeding with respect to, any rights or remedies with respect to any Collateral, including (i) instituting or maintaining, or joining any Person in instituting or maintaining, any enforcement, contest, protest, attachment,
collection, execution, levy or foreclosure action or proceeding with respect to any Collateral, whether under any Secured Instrument, Trust Security Document or otherwise, (ii) exercising any right of
set-off with respect to any Grantor, or (iii) exercising any other enforcement right or remedy with respect to any Collateral under the Uniform Commercial Code of any applicable jurisdiction or under any
Bankruptcy Law or other applicable law (but excluding, for the avoidance of doubt, the exercise of rights against any cash collateral provided by any Grantor to any holder of First Priority L/C Facility Obligations or any other letter of credit
obligations or against any property not constituting “Collateral” hereunder). 

  
 -2- 

 “Collateral Trust Agreement” shall mean this Collateral
Trust and Intercreditor Agreement as the same may from time to time be amended, modified, supplemented, extended or renewed. 

“Collateral Trustee” shall have the meaning set forth in the recitals hereto. 

“Company” shall have the meaning set forth in the recitals hereto. 

“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 ownership of voting securities, by agreement or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Controlling Party” shall mean (a) at any time when any First Priority Secured Obligations or commitments
in respect thereof have not been paid in full, (i) the First Priority Agent or (ii) if (1) a Notice of Acceleration has been delivered (and remains in effect) in respect of any Material First Priority Secured Obligations and (2) both
(x) the First Priority Secured Obligations in respect of which the First Priority Agent is the Holder Representative have not been accelerated (or subject to a termination event, as the case may be) and (y) the First Priority Agent has not
commenced (or instructed the Collateral Trustee to commence) and is not diligently pursuing (or has not instructed the Collateral Trustee to diligently pursue) any Collateral Enforcement Action with respect to a material portion of any Collateral
within 180 consecutive days since the delivery of such Notice of Acceleration, the Holder Representative for the series of obligations constituting the then highest Outstanding Amount of Material First Priority Secured Obligations in respect of
which a Notice of Acceleration has been delivered, provided that upon the acceleration of (or the occurrence of a termination event in respect of) the First Priority Secured Obligations in respect of which the First Priority Agent is the
Holder Representative or upon the commencement by the First Priority Agent (or the Collateral Trustee upon instruction of the First Priority Agent) of any Collateral Enforcement Action with respect to a material portion of any Collateral, the First
Priority Agent shall become the Controlling Party, or (iii) if (1) a Notice of Acceleration has been delivered (and remains in effect) in respect of any Material Junior Priority Secured Obligations and (2) both (x) no series of Material
First Priority Secured Obligations has been accelerated (or subject to a termination event, as the case may be) and (y) no Holder Representative of any Material First Priority Secured Obligations has commenced (or instructed the Collateral
Trustee to diligently pursue) any Collateral Enforcement Action with respect to a material portion of any Collateral within 270 consecutive days since the delivery of such Notice of Acceleration, the Junior Priority Agent; provided that upon
the acceleration of (or the occurrence of a termination event in respect of) any Material First Priority Secured Obligations or upon the commencement by any Holder Representative in respect of any series of Material First Priority Secured
Obligations (or the Collateral Trustee upon instruction of such Holder Representative) of any Collateral Enforcement Action with respect to a material portion of the Collateral, such Holder Representative shall become the Controlling Party in
accordance with the terms of clause (a) above and (b) at any time when all First Priority Secured Obligations or commitments in respect thereof have been paid in full and any Junior Priority Secured Obligations or commitments in respect
thereof remain outstanding, the Junior Priority Agent. 
 “Designated Cash Management Obligations” shall
mean the due and punctual payment and performance of any and all obligations of the Company and each Subsidiary (whether absolute or contingent and however and whenever created, arising, evidenced or acquired (including all renewals, extensions and
modifications thereof and substitutions therefor)) arising 

  
 -3- 

 
in respect of cash management facilities or services including treasury, depositary, disbursement, lockbox, funds transfer, pooling, netting, overdraft, stored value card, purchase card
(including so-called “procurement cards” or “P-cards”), debit card, credit card, e-payable, cash management
and similar services and any automated clearing house transfer of funds, in each case that have been designated by the Company in accordance with this Collateral Trust Agreement from time to time as constituting “Designated Cash Management
Obligations”. 
 “Designated Hedging Obligations” shall mean the due and punctual payment and
performance of any and all obligations of the Company and each Subsidiary arising under each Hedge Agreement that has been designated by the Company in accordance with this Collateral Trust Agreement from time to time as constituting
“Designated Hedging Obligations”. 
 “Designated L/C Facility” means one or more letter of credit
facilities that has been designated by the Company in accordance with this Collateral Trust Agreement from time to time as constituting “Designated L/C Facilities” (in each case as may be amended, supplemented or otherwise modified from
time to time). 
 “Designated L/C Facility Obligations” shall mean, collectively, the obligations and
liabilities of the Grantors (including, without limitation, Post-Petition Interest), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection
with any Designated L/C Facility. 
 “DIP Financing” shall mean any financing obtained by any Grantor during
any Insolvency Proceeding or otherwise pursuant to any Bankruptcy Law, including any such financing obtained by any Grantor under Section 363 or 364 of the Bankruptcy Code or under any similar provision of any Bankruptcy Law or consisting of
any arrangement for use of cash collateral held in respect of any Secured Obligation under Section 363 of the Bankruptcy Code or under any similar provision of any Bankruptcy Law. 

“Distribution Date” shall mean each date fixed by the Collateral Trustee for a distribution to the Secured
Parties of funds held in the Collateral Account. 
 “Dollars” and “$” shall mean the lawful
money of the United States. 
 “Effective Date” shall mean April 1, 2020. 

“Electronic Signature”: any electronic symbol or process attached to, or associated with, a contract or other
record and adopted by a Person with the intent to sign, authenticate or accept such contract or record. 
 “Eligible
First Priority Secured Parties” shall mean (a) in respect of any First Priority Debt Documents (other than the Intra-Company Lease Agreements and the Performance Agreements), the Secured Parties eligible to vote on applicable matters
thereunder, and (b) in respect of the Intra-Company Lease Agreements and the Performance Agreements, the relevant Holder Representative. 

“Eligible Junior Priority Secured Parties” shall mean the Secured Parties eligible to vote on applicable
matters under the applicable Junior Priority Debt Documents. 
 “Existing Sprint Spectrum-Backed Notes”
means the Existing Sprint Spectrum Issuers’ Series 2018-1 4.738% Senior Secured Notes, Class A-1, Series 2018-1 5.152%
Senior Secured Notes, Class A-2, Series 2016-1 3.360% Senior Secured Notes, Class A-1, and any other note or series of
notes issued under the Existing Sprint Spectrum Indenture from time to time. 

  
 -4- 

 “Existing Sprint Spectrum Indenture” means the Indenture,
dated as of October 27, 2016, by and among Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC, and Deutsche Bank Trust Company Americas, in its capacity as trustee, as amended, supplemented or otherwise modified from
time to time, including as supplemented with respect to each series of Existing Sprint Spectrum-Backed Notes. 

“Extensions of Credit” shall mean, with respect to any holder of First Priority Secured Obligations or Junior
Priority Secured Obligations, the aggregate principal amount of all loans, notes or letters of credit (including any reimbursement obligations and cash collateral obligations in respect thereof) under the First Priority Debt Documents or the Junior
Priority Debt Document, as the case may be, held by such holder then outstanding. 
 “Event of Default”
shall mean an “Event of Default”, “Termination Event” or any equivalent term as such term is used in any First Priority Debt Document or Junior Priority Debt Document, respectively, or any other event constituting a breach of a
Grantor’s contractual obligations under any First Priority Debt Document or Junior Priority Debt Document and the continuation thereof beyond any period of grace applicable thereto. 

“FCC Licenses” shall mean all licenses or permits now or hereafter issued by the United States Federal
Communications Commission and any successor agency that is responsible for regulating the United States telecommunications industry. 

“First Priority Additional Debt” shall mean, collectively, any Indebtedness or other obligation designated by
the Company as “First Priority Additional Debt” pursuant to subsection 7.1 provided, however, that, (i) such Indebtedness or other obligation is permitted to be incurred and secured on such basis by each First Priority
Debt Document and each Junior Priority Debt Document and (ii) the Holder Representative in respect of such Indebtedness or other obligation shall have become party to this Collateral Trust Agreement pursuant to, and by satisfying the conditions
set forth in, subsection 7.1 hereof. 
 “First Priority Additional Debt Documents” shall mean any agreements
or other documents entered into in connection with any First Priority Additional Debt. 
 “First Priority Additional
Debt Representative” shall mean any Person designated by the Company pursuant to subsection 7.1 as a “First Priority Additional Debt Representative” for any First Priority Additional Debt, and any successor First Priority
Additional Debt Representative appointed under any First Priority Additional Debt Documents for such First Priority Additional Debt. 

“First Priority Additional Secured Obligations” shall mean, collectively, the unpaid principal of, and
interest on, any First Priority Additional Debt and all other obligations and liabilities of any Grantor (including, without limitation, interest accruing at the then applicable rate provided in the applicable First Priority Additional Debt
Documents after the maturity of the Indebtedness thereunder and all Post-Petition Interest) to the holders of such Indebtedness or other obligations, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter
incurred, which may arise under, out of, or in connection with, the First Priority Additional Debt Documents or any other document made, delivered or given in connection with any of the foregoing, in each case whether on account of principal,
interest, fees, 

  
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prepayment premiums, indemnities, costs, expenses or otherwise (including without limitation all fees and disbursements of counsel to the First Priority Agent, the applicable Holder
Representative or to the holders of such First Priority Additional Debt that are required to be paid by any of the Grantors pursuant to the terms of any of foregoing agreements). 

“First Priority Additional Sale/Leaseback Obligations” shall mean, collectively, the lease payments and all
other obligations and liabilities of the Grantors (including, without limitation, Post-Petition Interest), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out
of, or in connection with (i) any Intra-Company Lease Agreement referred to in clause (ii) of the definition thereof (and the Initial Intra-Company Spectrum Lease Agreement to the extent relating to additional sales or transfers of
Spectrum effected after the date of this Collateral Trust Agreement and any additional issuances of notes thereby) and (ii) any Performance Agreement referred to in clause (ii) of the definition thereof (and the Initial Spectrum
Performance Agreement to the extent relating to additional sales or transfers of Spectrum effected after the date of this Collateral Trust Agreement and any additional issuances of notes thereby), in each case, whether on account of principal, lease
payments, guarantee payments, interest, reimbursement obligations, fees, prepayment premiums, liquidated damages, indemnities, costs, expenses or otherwise; provided that notwithstanding anything to the contrary herein or in any other
documents or agreements (and regardless of any underlying actual amounts owing or outstanding), the total amount of such obligations that may constitute “First Priority Additional Sale/Leaseback Obligations” shall be limited to an
aggregate amount not to exceed the amounts expressly set forth in the Notices of Designation with respect to such First Priority Additional Sale/Leaseback Obligations pursuant to subsection 7.1. 

“First Priority Agent” shall mean: 

(a) (i) until such time as a successor “First Priority Agent” is designated pursuant to clause (a)(ii) or
(b) below, Deutsche Bank AG New York Branch, as Holder Representative in respect of the Initial Syndicated Credit Agreement (or any successor appointed in accordance with the terms of the Initial Syndicated Credit Agreement, or any
administrative agent or analogous function under any successor First Priority Credit Agreement) and (ii) to the extent there are two or more Syndicated Credit Agreements outstanding that comprise First Priority Secured Obligations, the Holder
Representative in respect of the Syndicated Credit Agreement designated (if different and so designated) as “First Priority Agent” in writing by the Company and representing the highest Outstanding Amount of such Syndicated Credit
Agreements that comprise First Priority Secured Obligations, it being understood and agreed that if the outstanding Syndicated Credit Agreements consist only of the Initial Syndicated Credit Agreement and the First Priority Bridge Loan Agreement,
clause (a)(i) shall apply; 
 (b) at any time when the aggregate Outstanding Amount of Indebtedness and unfunded commitments
under the Initial Syndicated Credit Agreement (and any other First Priority Credit Agreement incurred to Refinance the Initial Syndicated Credit Agreement) and other Syndicated Credit Agreements referenced in clause (a)(ii) above is less than
$1,000,000,000, (i) the agent or trustee designated as “First Priority Agent” by the Majority First Priority Secured Parties (or their Holder Representatives) or (ii) in the event the Majority First Priority Secured Parties (or their
Holder Representatives) have not designated a First Priority Agent, then the Holder Representative for the series of obligations constituting the then highest Outstanding Amount of First Priority Secured Obligations. 

  
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 “First Priority Bridge Loan Agreement” shall mean the
Bridge Term Loan Agreement, dated as of April 1, 2020, among the Company, the lenders parties thereto, and Goldman Sachs Bank USA, as administrative agent, and the other agents and parties named therein. 

“First Priority Bridge Loan Agreement Documents” shall mean the First Priority Bridge Loan Agreement and the
other “Loan Documents” (or similar term) under and as defined in the First Priority Bridge Loan Agreement and any other agreements or documents entered into in connection with the First Priority Bridge Loan Agreement. 

“First Priority Bridge Loan Agreement Obligations” shall mean, collectively, the unpaid principal of and
interest on the loans and all other obligations and liabilities of the Grantors (including, without limitation, interest accruing at the then applicable rate provided in the First Priority Bridge Loan Agreement after the maturity of the applicable
loans and Post-Petition Interest) to any First Priority Secured Party, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the First
Priority Bridge Loan Agreement Documents or any other document made, delivered or given in connection with any of the foregoing, in each case whether on account of principal, interest, reimbursement obligations, fees, prepayment premiums,
indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the applicable Holder Representatives or the Lenders that are required to be paid by the Grantors pursuant to the terms of any of the
foregoing agreements). 
 “First Priority Class” shall mean, collectively, (a) with respect to First
Priority Debt Documents (other than those referred to in clause (b) below), the Secured Parties which are holders of any of the First Priority Secured Obligations thereunder, and (b) with respect to the Intra-Company Lease Agreements and
the Performance Agreements, the Secured Parties represented by the relevant Holder Representatives. 
 “First
Priority Credit Agreement” shall mean (i) the Initial Syndicated Credit Agreement, and (ii) any other Syndicated Credit Agreement or other credit agreement, loan agreement, note agreement, promissory note, indenture or other
agreement or instrument evidencing or governing the terms of any Indebtedness or other financial accommodation that has been incurred to Refinance (whether by the same or different lenders) in whole or in part (under one or more agreements) the
Indebtedness and other obligations outstanding under the Initial Syndicated Credit Agreement or any other agreement or instrument referred to in this clause (ii) (including, without limitation, increasing the amount available for borrowing or adding
or removing Persons as a borrower, guarantor or other obligor thereunder) unless such agreement or instrument (or applicable Notice of Designation) expressly provides that it is not a First Priority Credit Agreement hereunder. 

“First Priority Credit Agreement Documents” shall mean each First Priority Credit Agreement and the other
“Loan Documents” (or similar term) under and as defined in each First Priority Credit Agreement and any other agreements or documents entered into in connection with any First Priority Credit Agreement. 

“First Priority Credit Agreement Obligations” shall mean, collectively, the unpaid principal of and interest
on the loans and all other obligations and liabilities of the Grantors (including, without limitation, interest accruing at the then applicable rate provided in any First Priority Credit Agreement after the maturity of the applicable loans and
Post-Petition Interest) to any First Priority Secured Party, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in

  
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connection with, the First Priority Credit Agreement Documents or any other document made, delivered or given in connection with any of the foregoing, in each case whether on account of
principal, interest, reimbursement obligations, fees, prepayment premiums, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the First Priority Agent, applicable Holder Representatives
or the Lenders that are required to be paid by the Grantors pursuant to the terms of any of the foregoing agreements). 

“First Priority Debt Documents” shall mean the First Priority Credit Agreement Documents, any Intra-Company
Lease Agreement, any Performance Agreement, the First Priority Notes Indenture Documents, the First Priority Bridge Loan Agreement Documents, any First Priority Additional Debt Documents and any agreements or other documents entered into in
connection with any First Priority Additional Debt; provided that, at any time on or after an Investment Grade Event Election, the First Priority Notes Indenture Documents shall no longer constitute First Priority Debt Documents hereunder.

 “First Priority Initial Spectrum Obligations” shall mean, collectively, the lease payments and all other
obligations and liabilities of the Grantors (including, without limitation, Post-Petition Interest), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or
in connection with (i) the Initial Intra-Company Spectrum Lease Agreement and (ii) the Initial Spectrum Performance Agreement, in each case, whether on account of principal, lease payments, guarantee payments, interest, reimbursement
obligations, fees, prepayment premiums, liquidated damages, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel that are required to be paid by any Grantors pursuant to the terms of any of
the foregoing agreements); provided that notwithstanding anything to the contrary herein or in any other documents or agreements (and regardless of any underlying actual amounts owing or outstanding), the total amount of the foregoing
obligations that may constitute “First Priority Initial Spectrum Obligations” shall be limited to an aggregate amount not to exceed at any time $3,500,000,000. 

“First Priority Notes” shall mean those certain Senior Secured Notes, if any, to be issued by the Company and
identified as the “First Priority Notes” by written notice from the Company to the Collateral Trustee (which notice shall be substantively in the form of Exhibit D hereto), and any additional notes, in each case, issued under the
First Priority Notes Indenture. 
 “First Priority Notes Indenture” shall mean the Indenture governing the
First Priority Notes, between the Company, as issuer, the guarantors party thereto and Deutsche Bank Trust Company Americas, as trustee, including supplements thereto. 

“First Priority Notes Indenture Documents” shall mean the First Priority Notes Indenture and the other
“Notes Documents” (or similar term) under and as defined in the First Priority Notes Indenture and any other agreements or documents entered into in connection with the First Priority Notes Indenture. 

“First Priority Notes Obligations” shall mean, collectively, the unpaid principal of and interest on the First
Priority Notes Indenture Documents and all other obligations and liabilities of the Company (including, without limitation, Post-Petition Interest), whether direct or indirect, absolute or contingent, due or to become due, or now existing or
hereafter incurred, which may arise under, out of, or in connection with the First Priority Notes Indenture Documents. 

  
 -8- 

 “First Priority Secured Obligations” shall mean, without
duplication, (a) all First Priority Credit Agreement Obligations and all Permitted First Priority Non-Loan Exposure; (b) all First Priority Initial Spectrum Obligations; (c) all First Priority
Additional Sale/Leaseback Obligations; (d) all First Priority Notes Obligations (provided that following an Investment Grade Event Election, the First Priority Notes Obligations shall cease to be “First Priority Secured
Obligations” hereunder), (e) all First Priority Bridge Loan Agreement Obligations and (f) all other First Priority Additional Secured Obligations; provided, however, that to the extent any payment with respect to the First
Priority Secured Obligations (whether by or on behalf of any Grantor, as proceeds of Collateral, enforcement of any right of set off or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be paid to a
debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. 

“First Priority Secured Party” or “First Priority Secured Parties” shall mean at any time the
Collateral Trustee (in its capacity as the holder of the Lien on the Collateral securing the First Priority Secured Obligations), the First Priority Agent and any other holder of First Priority Secured Obligations outstanding at such time (and
including, for the avoidance of doubt, any Holder Representative in respect of such First Priority Secured Obligations). 

“First Priority Security Documents” shall mean all security agreements, pledge agreements, intercreditor
agreements, collateral assignments, mortgages, deeds of trust, assignments of leases and rents, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by any Grantor, in each case, creating
(or purporting to create) a Lien upon any property, rights or interests of such Grantor in favor of the Collateral Trustee, for the benefit of any holder of the First Priority Secured Obligations, in each case, as amended, modified, renewed,
extended, restated or replaced, in whole or in part, from time to time, in accordance with its terms. 
 “First
Priority Voting Obligations” shall mean, as of any date (a) all Extensions of Credit (and, if no Notice of Acceleration is outstanding with respect thereto, unfunded commitments) eligible to be voted on with respect to a relevant
matter under the First Priority Debt Documents (other than the Intra-Company Lease Agreements and Performance Agreements) on such date, plus (b) all Secured Spectrum and Sale/Leaseback Amounts as of such date. 

“Grantors” shall have the meaning assigned in the preamble hereto. 

“Holder Representative” shall mean (i) in respect of the Initial Syndicated Credit Agreement, Deutsche
Bank AG New York Branch, as administrative agent (or any administrative agent or entity serving an analogous function under any successor First Priority Credit Agreement), (ii) in respect of the First Priority Initial Spectrum Obligations, Deutsche
Bank Trust Company Americas, not in its individual capacity but solely as trustee under the Existing Sprint Spectrum Indenture, (iii) in respect of the First Priority Notes, Deutsche Bank Trust Company Americas, not in its individual capacity
but solely as trustee under the First Priority Notes Indenture, (iv) in respect of any First Priority Additional Sale/Leaseback Obligations, the agent, trustee or other designee, as applicable, identified in the applicable Notice of Designation
for the obligees of such obligations, (v) in respect of the First Priority Bridge Loan Agreement, Goldman Sachs Bank USA, as administrative agent, (vi) in respect of any First Priority Additional Debt, the agent, trustee or other designee,
as applicable, identified in the applicable Notice of Designation for the holders of such obligations and (vii) in respect of any Junior Priority Secured Obligations, the agent, trustee or other designee, as applicable, identified in the
applicable Notice of Designation for the holders of such obligations together, in each case, with its successors. 

  
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 “Included Grantor” shall have the meaning assigned in
subsection 6.12(c) hereto. 
 “Initial Intra-Company Spectrum Lease Agreement” shall mean the Intra-Company
Spectrum Lease Agreement, dated as of October 27, 2016, by and among, inter alia, various SpectrumCo1 entities, as lessors, Sprint Communications, as lessee, Sprint and the other guarantors party thereto (as amended by the First Amendment to
Intra-Company Spectrum Lease Agreement, dated as of March 12, 2018 and the Second Amendment to Intra-Company Spectrum Lease, dated as of June 6, 2018). 

“Initial Spectrum Performance Agreement” shall mean the SCI Payment and Performance Undertaking Agreement,
dated as of October 27, 2016, between Sprint Communications, Sprint, the other grantors party thereto, and Deutsche Bank Trust Company Americas, as trustee (as amended by the First Amendment to Intra-Company Spectrum Lease Agreement, dated as
of March 12, 2018). 
 “Initial Syndicated Credit Agreement” shall mean Credit Agreement, dated as of
April 1, 2020, among the Company, the lenders parties thereto, and Deutsche Bank AG New York Branch, as administrative agent, and the other agents and parties named therein. 

“Insolvency Proceeding” shall mean each of the following, in each case with respect to the Company or any
Grantor or any property or Indebtedness of the Company or any Grantor (a)(i) any voluntary or involuntary case or proceeding under any Bankruptcy Law or any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding,
(ii) any case or proceeding seeking receivership, liquidation, reorganization, winding up or other similar case or proceeding, (iii) any case or proceeding seeking arrangement, adjustment, protection, relief or composition of any debt and
(iv) any case or proceeding seeking the entry of an order for relief or the appointment of a custodian, receiver, trustee or other similar official and (b) any general assignment for the benefit of creditors. 

“Intra-Company Lease Agreement” shall mean (i) the Initial Intra-Company Spectrum Lease Agreement and
(ii) any other intra-company lease agreement between Grantors and any special purpose subsidiaries of the Parent entered into in connection with a Sale and Leaseback Transaction (including with respect to Spectrum) and identified to the
Collateral Trustee as “First Priority Additional Sale/Leaseback Obligations” in a Notice of Designation pursuant to subsection 7.1. 

“Investment Grade Event Election” shall have the meaning assigned in the First Priority Notes Indenture. 

“Junior Priority Agent” shall mean, at any time, the Junior Priority Debt Representative acting as the agent,
trustee or similar party in respect of the Junior Priority Debt constituting at such time the highest principal Outstanding Amount of Junior Priority Debt. 

“Junior Priority Class” shall mean, collectively, with respect to any Junior Priority Debt Documents, the
Secured Parties which are holders of the Junior Priority Secured Obligations thereunder. 
 “Junior Priority Debt
Representative” shall mean any Person designated by the Company pursuant to subsection 7.1 as a “Junior Priority Debt Representative” for any Junior Priority Debt, and any successor Junior Priority Debt Representative appointed
under the Junior Priority Debt Documents for such Junior Priority Debt. 

  
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 “Junior Priority Debt” shall mean, collectively, any
“Junior Priority Debt” designated by the Company as “Junior Priority Debt” pursuant to subsection 7.1; provided further, however, that, (i) such Indebtedness is permitted to be incurred and secured on such
basis by each First Priority Debt Document and each Junior Priority Debt Document and (ii) the Holder Representative in respect of such Indebtedness shall have become party to this Collateral Trust Agreement pursuant to, and by satisfying the
conditions set forth in, subsection 7.1 hereof. 
 “Junior Priority Debt Documents” shall mean any
agreements or other documents entered into in connection with any Junior Priority Debt. 
 “Junior Priority Debt
Obligations” shall mean, collectively, the unpaid principal of, and interest on, any Junior Priority Debt and all other obligations and liabilities of any Grantor (including, without limitation, interest accruing at the then applicable rate
provided in the Junior Priority Debt Documents after the maturity of the Indebtedness thereunder and all Post-Petition Interest) to the holders of such Indebtedness or other obligations, whether direct or indirect, absolute or contingent, due or to
become due, now existing or hereafter incurred, which may arise under, out of, or in connection with, the Junior Priority Debt Documents or any other document made, delivered or given in connection with any of the foregoing, in each case whether on
account of principal, interest, fees, prepayment premiums, indemnities, costs, expenses or otherwise (including without limitation all fees and disbursements of counsel to any Junior Priority Agent or to the holders of such Junior Priority Debt that
are required to be paid by any of the Grantors pursuant to the terms of any of foregoing agreements). 
 “Junior
Priority Secured Obligations” shall mean, without duplication, all Junior Priority Debt Obligations and all Permitted Junior Priority Non-Loan Exposure; provided, however, that to the
extent any payment with respect to Junior Priority Secured Obligations (whether by or on behalf of any Grantor, as proceeds of Collateral, enforcement of any right of set off or otherwise) is declared to be fraudulent or preferential in any respect,
set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not
occurred. 
 “Junior Priority Secured Parties” shall mean at any time the Collateral Trustee (in its
capacity as the holder of the Lien on the Collateral securing the Junior Priority Secured Obligations), the Junior Priority Agent and any other holder of Junior Priority Secured Obligations outstanding at such time (and including, for the avoidance
of doubt, any Holder Representative in respect of such Junior Priority Secured Obligations). 
 “Junior Priority
Security Documents” shall mean all security agreements, pledge agreements, intercreditor agreements, collateral assignments, mortgages, deeds of trust, assignments of leases and rents, collateral agency agreements, control agreements or
other grants or transfers for security executed and delivered by any Grantor, in each case, creating (or purporting to create) a Lien upon any property, rights or interests of such Grantor in favor of the Collateral Trustee, for the benefit of any
holder of the Junior Priority Secured Obligations, in each case, as amended, modified, renewed, extended, restated or replaced, in whole or in part, from time to time, in accordance with its terms. 

“Junior Priority Voting Obligations” shall mean, as of any date, all Extensions of Credit (and, if no Notice
of Acceleration is outstanding with respect thereto, unfunded commitments) eligible to be voted on with respect to a relevant matter under the Junior Priority Debt Documents on such date. 

  
 -11- 

 “Lien” means, with respect to any asset, (a) any
mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement
(or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset. 

“Majority Class Holders” shall mean, on any date, with respect to the applicable Class:
(i) Eligible First Priority Secured Parties representing more than 50% of the aggregate First Priority Voting Obligations on such date; and (ii) Eligible Junior Priority Secured Parties representing more than 50% of the aggregate Junior
Priority Voting Obligations on such date. 
 “Majority First Priority Secured Parties” shall mean, on any
date, Eligible First Priority Secured Parties representing more than 50% of the aggregate First Priority Voting Obligations on such date. 

“Majority Junior Priority Secured Parties” shall mean, on any date, the Eligible Junior Priority Secured
Parties representing more than 50% of the Junior Priority Voting Obligations on such date. 
 “Material First
Priority Secured Obligations” means any series of First Priority Secured Obligations with an Outstanding Amount in excess of $1,000,000,000. 

“Material Junior Priority Secured Obligations” means any series of Junior Priority Secured Obligations with an
Outstanding Amount in excess of $1,000,000,000. 
 “Notice of Acceleration” shall mean a written notice
delivered to the Collateral Trustee and (unless delivered by the First Priority Agent) the First Priority Agent substantially the form of Exhibit B, while any First Priority Secured Obligations are outstanding, by the relevant Holder Representative
in respect of such First Priority Secured Obligations (and thereafter while any Junior Priority Secured Obligations are outstanding, by the relevant Holder Representative in respect of such Junior Priority Secured Obligations), stating that an
Acceleration Event has occurred and is continuing in respect of the relevant Secured Obligations. 
 “Notice of
Cancellation” shall have the meaning assigned in subsection 2.1(c). 
 “Notice of Designation”
shall have the meaning assigned in subsection 7.1. 
 “Notice of Event of Default” shall mean (a) a
written notice delivered to the Collateral Trustee and (unless delivered by the First Priority Agent) the First Priority Agent, substantially in the form of Exhibit A, while any First Priority Secured Obligations are outstanding, by the relevant
Holder Representative in respect of such First Priority Secured Obligations (and thereafter while any Junior Priority Secured Obligations are outstanding, by the relevant Holder Representative in respect of such Junior Priority Secured Obligations),
stating that an Event of Default has occurred and is continuing under the relevant Secured Obligations and/or (b) a Notice of Acceleration. 

“Opinion of Counsel” shall mean an opinion in writing signed by legal counsel of recognized national standing,
who may be counsel (including, in-house counsel) to the Company. 

  
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 “Outstanding Amount” shall mean as of any date of
determination (a) with respect to Indebtedness, the aggregate outstanding principal amount thereof, (b) with respect to any unfunded commitments, the aggregate amount of such obligations to make loans or other extensions of credit,
(c) with respect to banker’s acceptances, letters of credit or letters of guarantee, the aggregate undrawn, unexpired face amount thereof plus the aggregate unreimbursed drawn amount thereof, (d) with respect to hedging obligations,
the aggregate amount recorded by the Parent, the Company or any Subsidiary as its net termination liability thereunder calculated in accordance with the Parent’s or the Company’s customary accounting procedures, (e) with respect to
cash management obligations or guarantees, the aggregate maximum amount thereof (i) that the relevant cash management provider is entitled to assert as such as agreed from time to time by the Parent, the Company or any Subsidiary and such
provider or (ii) the principal amount of the Indebtedness being guaranteed or, if less, the maximum amount of such guarantee set forth in the relevant guarantee, (f) with respect to the First Priority Initial Spectrum Obligations and any
First Priority Additional Sale/Leaseback Obligations, the maximum amount that the lessors, secured parties and guaranteed parties, as the case may be, are entitled to claim in respect of the guarantees and performance undertakings set forth therein
(subject to the caps set forth under the definition of “First Priority Initial Spectrum Obligations” and “First Priority Additional Sale/Leaseback Obligations”, respectively), and (g) with respect to any other obligations,
the aggregate outstanding amount thereof. 
 “paid and performed in full” or “payment and
performance in full” or “pay such amounts and perform in full” shall mean, as of any date, with respect to any Secured Obligations, that on or before such date: (i) the principal of and interest (including
Post-Petition Interest) accrued to such date on each loan or other form of indebtedness shall have been paid in full in cash, (ii) all fees, expenses and other amounts then due and payable which constitute such Secured Obligations (other than
Secured Non-Loan Exposure and contingent amounts, in each case, for which no claim or demand has been made) shall have been paid in full in cash, (iii) the commitments thereunder shall have expired or
been terminated, (iv) any contingent letter of credit exposure shall have been secured by (x) the grant of a first priority, perfected Lien on cash or cash equivalents in an amount at least equal to the amount required under the applicable
Secured Instrument or other collateral which is reasonably acceptable to the applicable issuing bank or (y) the issuance of a “back–to–back” letter of credit in form and substance reasonably acceptable to the applicable
issuing bank with an original face amount at least equal to the amount that would be required pursuant to clause (x) above, (v) in respect of the First Priority Initial Spectrum Obligations and any First Priority Additional Sale/Leaseback
Obligations, all obligations of the Grantors shall have terminated in accordance with the terms thereof and all amounts due and owing in connection with such termination shall have been paid in full in cash, (vi) the payment in full in cash of
any other amounts due and owing in compliance with the applicable Secured Instrument documentation and (vii) in respect of any other contractual obligations not referenced in the foregoing clauses (i) through (vi), the performance and
satisfaction of such obligations in full. 
 “Parent” shall have the meaning set forth in the recitals
hereto. 
 “Performance Agreement” shall mean (i) the Initial Spectrum Performance Agreement and
(ii) any similar or like performance and undertaking agreement entered into by the Grantors in connection with a Sale and Leaseback Transaction (including with respect to Spectrum) and identified to the Collateral Trustee as “First
Priority Additional Sale/Leaseback Obligations” in a Notice of Designation pursuant to subsection 7.1; provided, however, that, (i) such obligations are permitted to be incurred and secured on such basis by each First
Priority Debt Document and each Junior Priority Debt Document and (ii) the Holder Representative in respect of such obligations shall have become party to this Collateral Trust Agreement pursuant to, and by satisfying the conditions set forth
in, subection 7.1 hereof. 

  
 -13- 

 “Permitted First Priority
Non-Loan Exposure” shall mean Designated Hedging Obligations, Designated Cash Management Obligations, Designated L/C Facility Obligations and any other reimbursement obligations in respect of letters
of credit and bank guarantees, and guarantees provided by the Company or a Grantor (including in respect of Indebtedness and other obligations of the Company or a Grantor that do not constitute Indebtedness) that have been designated as
“Permitted First Priority Non-Loan Exposure” on the Effective Date or otherwise pursuant to subsection 7.1; provided, however, that, (i) such obligations are permitted to be
incurred and secured on such basis by each First Priority Debt Document and each Junior Priority Debt Document and (ii) the Holder Representative in respect of such obligations shall have become party to this Collateral Trust Agreement pursuant
to, and by satisfying the conditions set forth in, subsection 7.1 hereof. 
 “Permitted Junior Priority Non-Loan Exposure” shall mean Designated Hedging Obligations, Designated Cash Management Obligations, reimbursement obligations in respect of letters of credit and bank guarantees, and guarantees provided
by the Company or a Grantor (including in respect of Indebtedness and other obligations of the Company or a Grantor that do not constitute Indebtedness) that have been designated as “Permitted Junior Priority
Non-Loan Exposure” pursuant to subsection 7.1; provided further, however, that, (i) such obligations are permitted to be incurred and secured on such basis by each First Priority Debt
Document and each Junior Priority Debt Document and (ii) the Holder Representative in respect of such obligations shall have become party to this Collateral Trust Agreement pursuant to, and by satisfying the conditions set forth in, subsection
7.1 hereof. 
 “Person” shall mean any natural person, corporation, limited liability company, trust, joint
venture, association, company, partnership, or government or other entity. 
 “Post-Petition Interest” shall
mean all interest (or entitlement to fees or expenses or other charges) accruing or that would have accrued after the commencement of any Insolvency Proceeding, irrespective of whether a claim for post-filing or petition interest (or entitlement to
fees or expenses or other charges) is allowed or allowable in any such Insolvency Proceeding. 
 “Proceeds”
shall mean all “proceeds” as such term is defined in Section 9-102(a)(64) of the Uniform Commercial Code in effect in the State of New York on the date hereof. 

“Post-Petition Securities” shall mean any debt securities or other Indebtedness received in full or partial
satisfaction of any claim as part of any Insolvency Proceeding. 
 “Refinancing or Refinance” shall mean,
with respect to any Indebtedness, any other Indebtedness issued as part of a refinancing, extension, renewal, defeasance, discharge, amendment, restatement, modification, supplement, substitution, restructuring, replacement, exchange, refunding or
repayment thereof. 
 “Related Obligations” shall have the meaning assigned in subsection 6.4. 

“Responsible Officer” shall mean, with respect to any Person, the chief executive officer, president, chief
financial officer, treasurer, controller, senior vice president of such Person, or any other senior officer with express authority to act on behalf of such Person, and when used with respect to the Collateral Trustee, means any officer of the
Collateral Trustee with direct responsibility for the administration of this Collateral Trust Agreement. 

  
 -14- 

 “Sale and Leaseback Transaction” shall mean any transaction
or arrangement by the Company or any of its Subsidiaries, directly or indirectly, with any Person whereby the Company or any such Subsidiary shall sell or transfer any property, real or personal (including for the avoidance of doubt, any Spectrum),
used or useful in the business of the Company or any Subsidiary thereof, whether now owned or hereafter acquired, and thereafter the Company or any Subsidiary thereof rents or leases such property or other property intended to be used for
substantially the same purpose or purposes as the property being sold or transferred. 
 “Secured
Instruments” shall mean at any time (i) the First Priority Debt Documents, (ii) the Junior Priority Debt Documents and (iii) any agreements or other instruments governing or evidencing any Secured Non-Loan Exposure. 
 “Secured Non-Loan
Exposure” shall mean, collectively, (i) all Permitted First Priority Non-Loan Exposure and (ii) all Permitted Junior Priority Non-Loan Exposure. 

“Secured Obligations” shall mean, collectively, (i) all First Priority Secured Obligations and
(ii) all Junior Priority Secured Obligations. 
 “Secured Parties” shall mean, collectively,
(i) the Collateral Trustee, (ii) any First Priority Secured Party and (iii) any Junior Priority Secured Party. 

“Secured Spectrum and Sale/Leaseback Amounts” shall mean, at any time, the sum of: 

(A) with respect to the First Priority Initial Spectrum Obligations, the lesser of (i) $3,500,000,000 and (ii) the sum of
(x) the net present value at such time of the remaining unpaid operating lease payments owed to SpectrumCo1 under the Initial Intra-Company Spectrum Lease Agreement (discounted at a rate per annum equal to 10%, on a quarterly basis, assuming a 360-day year consisting of twelve 30-day months) and (y) the then Outstanding Amount (if any) of obligations under the Initial Spectrum Performance Agreement; and 

(B) with respect to any First Priority Additional Sale/Leaseback Obligations, the lesser of (i) the dollar amount of First
Priority Additional Sale/Leaseback Obligations designated by the Company as “First Priority Additional Sale/Leaseback Obligations” pursuant to subsection 7.1 and (ii) the sum of (x) the net present value at such time of the
remaining unpaid operating lease payments owed by the Grantors under any applicable Intra-Company Lease Agreements referred to in clause (ii) of the definition thereof (discounted in a manner consistent with the provisions thereof) and
(y) the then Outstanding Amount (if any) of obligations of the Grantors under any Performance Agreement referred to in clause (ii) of the definition thereof. 

“Spectrum” shall mean frequencies of electromagnetic spectrum used to provide fixed or mobile communications
services as licensed or authorized by the FCC. 
 “SpectrumCo1” shall mean, collectively, the Spectrum
special purpose vehicle Subsidiaries of Parent existing on the date hereof that are part of, and were formed for the purpose of, the Sale and Leaseback Transaction relating to the First Priority Initial Spectrum Obligations (including in respect of
any additional sales or transfers of Spectrum, any additional issuances of notes thereby and any amendments thereto). 

“Sprint Communications” means Sprint Communications, Inc., a Kansas corporation. 

  
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 “Sprint” means Sprint Corporation, a Delaware corporation.

 “Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation,
limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.
It is understood that unless otherwise noted herein, each reference to “Subsidiary” shall be a reference to a Subsidiary of Parent. 

“Syndicated Credit Agreement” shall mean the Initial Syndicated Credit Agreement and any other syndicated
credit agreement or loan agreement entered into with banks and/or other institutional investors. 
 “Trust
Estate” shall have the meaning assigned in the Declaration of Trust in this Collateral Trust Agreement. 

“Trust Security Documents” shall mean (i) in the case of any First Priority Agent, First Priority Secured
Obligations, First Priority Secured Party and any Holder Representative in respect of any First Priority Secured Obligations, all First Priority Security Documents and (ii) in the case of any Junior Priority Agent, Junior Priority Secured
Obligations, Junior Priority Secured Party and any Holder Representative in respect of any Junior Priority Secured Obligations, all Junior Priority Security Documents. 

“Trustee Fees” shall mean all fees, costs, indemnities and expenses of the Collateral Trustee of the types
described in subsections 4.2, 4.3, 4.4 and 4.5. 
 (c) The words “hereof”, “herein” and “hereunder” and words
of similar import when used in this Collateral Trust Agreement shall refer to this Collateral Trust Agreement as a whole and not to any particular provision of this Collateral Trust Agreement, and section and subsection references are to this
Collateral Trust Agreement unless otherwise specified. References to agreements defined in subsection 1.1(b) shall, unless otherwise specified, be deemed to refer to such agreements as amended, supplemented, restated or otherwise modified from time
to time. 
 (d) The words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. 
 (e) The word “will” shall be construed to have the same meaning and effect as the word
“shall”. 
 (f) Unless the context requires otherwise, (A) any reference to any Person shall be construed to include such
Person’s legal successors and permitted assigns, (B) any reference to any law or regulation shall refer to such law or regulation as amended, modified, supplemented from time to time, and any successor law or regulation, (C) the words
“asset” and “property” shall be construed to have the same meaning and effect and (D) references to agreements (including this Collateral Trust Agreement) or other contractual obligations shall be deemed to refer to such
agreements or contractual agreements as amended, restated, amended and restated, supplemented or otherwise modified from time to time (in each case, to the extent not otherwise prohibited hereunder). 

  
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 (g) In the computation of periods of time from a specified date to a later specified date,
the word “from” means “from and including”, the words “to” and “until” each mean “to but excluding” and the word “through” means “to and including”. 

(h) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. 

(i) For purposes of making any determinations or taking any actions under this Collateral Trust Agreement deriving from being a
“holder” of or “holding” or “representing” (and similar words of like meaning) obligations, in respect of the First Priority Initial Spectrum Obligations, the applicable Holder Representative shall be entitled to make
such determinations or take such actions. 
 SECTION 2. 

ENFORCEMENT OF SECURED OBLIGATIONS 

2.1 Notices of Events of Default. 

(a) Upon receipt by a Responsible Officer of the Collateral Trustee of a Notice of Event of Default, the Collateral Trustee shall promptly
notify the Company and all the Holder Representatives of the receipt and contents thereof. So long as such Notice of Event of Default is in effect in accordance with subsection 2.1(b) hereof, the Collateral Trustee shall exercise the rights and
remedies provided in this Collateral Trust Agreement and in the Trust Security Documents subject to the direction of the Controlling Party, as provided herein. 

(b) A Notice of Event of Default delivered by a Holder Representative shall become effective upon receipt thereof by a Responsible Officer of
the Collateral Trustee. Notwithstanding anything in this Collateral Trust Agreement to the contrary, a Notice of Event of Default shall be deemed to be in effect whenever (1) an “Event of Default” under clause (g) or (h) of
Section 7.1 of the Initial Syndicated Credit Agreement (or any equivalent provision under any other Syndicated Credit Agreements) or an “Event of Default” under clause (g) or (h) of Section 7.1 of the First Priority Bridge
Loan Credit Agreement (or any equivalent provision under the First Priority Notes Indenture) or (2) a “Termination Event” pursuant to Section 12(b)(i) of the Initial Intra-Company Spectrum Lease Agreement (or any equivalent
provision under any other Intra-Company Lease Agreement), in each case, has occurred and is continuing. A Notice of Event of Default, once effective, shall remain in effect unless and until it is cancelled as provided in subsection 2.1(c). 

(c) Any Holder Representative shall be entitled to cancel its own Notice of Event of Default by delivering a written notice of cancellation in
the form attached hereto as Exhibit E (a “Notice of Cancellation”) to the Collateral Trustee (i) before the Collateral Trustee takes any action to exercise any remedy with respect to the Collateral or (ii) thereafter;
provided, that (x) any actions taken by the Collateral Trustee prior to receipt of such Notice of Cancellation to exercise any remedy or remedies with respect to the Collateral which can, in a commercially reasonable manner, be reversed,
cancelled or stopped, shall be so reversed, cancelled or stopped, and (y) any actions taken by the Collateral Trustee prior to receipt of such Notice of Cancellation to exercise any remedy or remedies with respect to the Collateral which
cannot, in a commercially reasonable manner, be reversed, canceled or stopped, may be completed. The Collateral Trustee, notwithstanding such Notice of Cancellation, shall cooperate with the Company so that the actions referred to in clauses
(x) and (y) above are done at the direction of the Company. The Collateral Trustee shall immediately notify the Company and all other Holder Representatives as to the receipt and contents of any such Notice of Cancellation. The Collateral
Trustee shall not be liable to any Person for any losses, damages or expenses arising out of or related to actions taken at the direction of the Company after the issuance of a Notice of Cancellation. 

  
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 2.2 General Authority of the Collateral Trustee over the Collateral. (a) Each Grantor
hereby irrevocably constitutes and appoints the Collateral Trustee and any officer or agent thereof, with full power of substitution, as its true and lawful
attorney-in-fact with full power and authority in its or his own name, from time to time in the Collateral Trustee’s reasonable discretion, subject to subsection
2.1, so long as any Notice of Event of Default is in effect, to take any and all appropriate action and to execute any and all documents and instruments which may be reasonably necessary or desirable to carry out the terms of this Collateral Trust
Agreement and the Trust Security Documents and accomplish the purposes hereof and thereof and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Trustee, subject to subsection 2.1, the power and right on
behalf of such Grantor, without notice to or further assent by such Grantor, so long as any Notice of Event of Default is in effect, to take any Collateral Enforcement Actions permitted under the Trust Security Documents and to do, at its option and
at the expense and for the account of Grantors, all acts and things which the Collateral Trustee reasonably deems necessary to protect or preserve the Collateral and to realize upon the Collateral in accordance with the provisions of the Trust
Security Documents. 
 (b) Notwithstanding the foregoing, so long as no Notice of Event of Default is in effect, the Collateral Trustee shall
take such actions as are permitted by this Collateral Trust Agreement or the Trust Security Documents in accordance with the instructions of the Controlling Party delivered to the Collateral Trustee. 

2.3 Right to Initiate Judicial Proceedings. If a Notice of Event of Default is in effect, the Collateral Trustee, subject to the
provisions of subsection 2.5(b) and Section 5, (i) shall have the right and power to institute and maintain such suits and proceedings as it may reasonably deem appropriate to protect and enforce the rights vested in it by this Collateral Trust
Agreement and each Trust Security Document and (ii) may, either after entry, or without entry, proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to sell all or, from time to time, any
of the Collateral under the judgment or decree of a court of competent jurisdiction. 
 2.4 Right to Appoint a Receiver. If a Notice
of Event of Default is in effect, upon the filing of a bill in equity or other commencement of judicial proceedings to enforce the rights of the Collateral Trustee under this Collateral Trust Agreement or any Trust Security Document, the Collateral
Trustee shall, to the extent permitted by law, with notice to the Company but without notice to any party claiming through the Grantors, without regard to the solvency or insolvency at the time of any Person then liable for the payment of any of the
Secured Obligations, without regard to the then value of the Trust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment by a court of law of a receiver or receivers (who
may be the Collateral Trustee) of the Trust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment shall
confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Trust Estate be segregated, sequestered and impounded for the
benefit of the Collateral Trustee and the Secured Parties, and each Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; provided that, notwithstanding the appointment of any receiver,
the Collateral Trustee shall be entitled to retain possession and control of all cash and Cash Equivalents (as defined in the Collateral Agreement) held by or deposited with it pursuant to this Collateral Trust Agreement or any Trust Security
Document. 

  
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 2.5 Exercise of Powers; Instructions of the Controlling Party. 

(a) All of the powers, remedies and rights of the Collateral Trustee as set forth in this Collateral Trust Agreement may be exercised by the
Collateral Trustee in respect of any Trust Security Document as though set forth in full therein and all of the powers, remedies and rights of the Collateral Trustee, each Holder Representative and the other Secured Parties as set forth in any Trust
Security Document may be exercised from time to time as herein and therein provided. 
 (b) The Controlling Party shall at all times have the
exclusive right, by one or more notices in writing executed and delivered to the Collateral Trustee, to direct the time, method and place of conducting any proceeding for any right or remedy available to the Collateral Trustee, or of exercising any
trust or power conferred on the Collateral Trustee, or for the appointment of a receiver, or to direct the taking or the refraining from taking of any action authorized by this Collateral Trust Agreement or any Trust Security Document, in each case
without any consultation with, or consent of, any other Holder Representative or Secured Party; provided that (i) such direction shall not conflict with any requirement of law or this Collateral Trust Agreement or any Trust Security
Document, (ii) the Collateral Trustee shall be adequately secured and indemnified as provided in subsection 5.4(d) and (iii) no Collateral Enforcement Action may be taken unless a Notice of Event of Default is in effect. In the absence of
such direction, the Collateral Trustee shall have no duty to take or refrain from taking any action unless explicitly required herein. 
 (c)
Whether or not any Insolvency Proceeding has been commenced by or against any Grantor, no Holder Representative or any other Secured Party shall do (and no such Holder Representative or Secured Party (other than the Controlling Party) shall direct
the Collateral Trustee to do) any of the following without the consent of the Controlling Party: (i) take any Collateral Enforcement Action or commence, seek to commence or join any other Person in commencing any Insolvency Proceeding; or
(ii) object to, contest or take any other action that is reasonably likely to hinder (1) any Collateral Enforcement Action initiated by the Collateral Trustee, (2) any release of Collateral permitted under subsection 6.12, whether or
not done in consultation with or with notice to such Secured Party or (3) any decision by the Controlling Party to forbear or refrain from bringing or pursuing any such Collateral Enforcement Action or to effect any such release. 

2.6 Remedies Not Exclusive. 

(a) No remedy conferred upon or reserved to the Collateral Trustee herein or in the Trust Security Documents is intended to be exclusive of any
other remedy or remedies, but every such remedy shall be cumulative and shall be in addition to every other remedy conferred herein or in any Trust Security Document or now or hereafter existing at law or in equity or by statute. 

(b) No delay or omission by the Collateral Trustee to exercise any right, remedy or power hereunder or under any Trust Security Document shall
impair any such right, remedy or power or shall be construed to be a waiver thereof, and every right, power and remedy given by this Collateral Trust Agreement or any Trust Security Document to the Collateral Trustee may be exercised from time to
time and as often as may be deemed expedient by the Collateral Trustee. 
 (c) If the Collateral Trustee shall have proceeded to enforce any
right, remedy or power under this Collateral Trust Agreement or any Trust Security Document and the proceeding for the enforcement thereof shall have been discontinued or abandoned for any reason or shall have been determined adversely to the
Collateral Trustee, then the Grantors, the Collateral Trustee and the Secured Parties shall, subject to any determination in such proceeding, severally and respectively be restored to their former positions and rights hereunder or thereunder with
respect to the Trust Estate and in all other respects, and thereafter all rights, remedies and powers of the Collateral Trustee shall continue as though no such proceeding had been taken. 

  
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 (d) All rights of action and of asserting claims upon or under this Collateral Trust
Agreement and the Trust Security Documents may be enforced by the Collateral Trustee without the possession of any Secured Instrument or instrument evidencing any Secured Obligation or the production thereof at any trial or other proceeding relative
thereto, and any suit or proceeding instituted by the Collateral Trustee shall be, subject to subsections 5.5(c) and 5.10(b)(ii), brought in its name as Collateral Trustee and any recovery of judgment shall be held as part of the Trust Estate. 

2.7 Waiver and Estoppel. 

(a) Each Grantor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit
or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay,
prevent or otherwise affect the performance or enforcement of this Collateral Trust Agreement, or any Trust Security Document, and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the
execution of any power granted to the Collateral Trustee in this Collateral Trust Agreement or any Trust Security Document and will suffer and permit the execution of every such power as though no such law were in force. 

(b) Each Grantor, to the extent it may lawfully do so, on behalf of itself and all who may claim through or under it, including without
limitation any and all subsequent creditors, vendees, assignees and lienors, waives and releases all rights to demand or to have any marshalling of the Collateral upon any sale, whether made under any power of sale granted herein or in any Trust
Security Document or pursuant to judicial proceedings or upon any foreclosure or any enforcement of this Collateral Trust Agreement or any Trust Security Document and consents and agrees that all the Collateral may at any such sale be offered and
sold as an entirety. 
 (c) Each Grantor waives, to the extent permitted by applicable law, presentment, demand, protest and any notice of
any kind (except notices explicitly required hereunder, under any Secured Instrument or under any other Trust Security Document) in connection with this Collateral Trust Agreement and the Trust Security Documents and any action taken by the
Collateral Trustee with respect to the Collateral. 
 2.8 Limitation on Collateral Trustee’s Duty in Respect of
Collateral. Beyond its duties (i) as to the custody of the Collateral expressly provided herein or in any Trust Security Document to which it is a party, (ii) to account to the Secured Parties and the Grantors for moneys and other
property received by it hereunder or under any Trust Security Document to which it is a party and (iii) to exercise reasonable care with respect to any such Collateral in its possession, the Collateral Trustee shall not have any other duty to
the Grantors or to the Secured Parties as to any Collateral or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto; provided that the Collateral Trustee will be deemed to have
exercised reasonable care in respect of any Collateral if it exercises the same level of care as it does with respect to collateral held on behalf of third parties in accordance with its standard practices and procedures in effect from time to time.

 2.9 Limitation by Law. All rights, remedies and powers provided in this Collateral Trust Agreement or any Trust Security Document
may be exercised only to the extent that the exercise thereof does not violate any applicable requirement of law, and all the provisions hereof are intended to be subject to all applicable mandatory Requirements of Law which may be controlling and
to be limited to the extent necessary so that they will not render this Collateral Trust Agreement invalid, unenforceable in whole or in part or not entitled to be recorded, registered or filed under the provisions of any applicable law. 

  
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 2.10 Rights of Secured Parties under Secured Instruments. Notwithstanding any other
provision of this Collateral Trust Agreement or any Trust Security Document, the right of each Secured Party to receive payment of the Secured Obligations held by such Secured Party when due (whether at the stated maturity thereof, by acceleration
or otherwise) as expressed in the related Secured Instrument or other instrument evidencing or agreement governing a Secured Obligation or to institute suit for the enforcement of such payment on or after such due date or to exercise any other
remedy it may have as an unsecured creditor against the Grantors, and the obligation of the Grantors to pay such Secured Obligations when due, shall not be impaired or affected without the consent of such Secured Party given in the manner prescribed
by the Secured Instrument under which such Secured Obligation is outstanding; provided, however, that in the event any Secured Party becomes a judgment lien creditor or otherwise obtains any Lien as a result of its enforcement of its
rights as an unsecured creditor, such judgment lien and the Collateral subject thereto shall be subject to all of the terms and conditions of this Collateral Trust Agreement, and if such judgment lien is held by a Junior Priority Secured Party such
Lien or Liens shall be junior and subordinate to the Liens securing the First Priority Secured Obligations hereunder on the same basis as any other Lien securing the Junior Priority Secured Obligations. 

2.11 Collateral Use Prior to Event of Default. 

(a) When a Notice of Event of Default is in effect, cash Proceeds received by the Collateral Trustee in connection with the sale or other
disposition of Collateral pursuant to a Collateral Enforcement Action (including as a result of any collection, sale, foreclosure or other realization or distribution of or in respect of any Collateral (whether or not expressly characterized as
such)) or in any Insolvency Proceeding (including any adequate protection payments)) shall be deposited in the Collateral Account. Any such Proceeds received by any Grantor shall be held by such Grantor in trust for the Collateral Trustee and shall,
forthwith upon receipt by such Grantor, be turned over the Collateral Trustee, in same form as received by such Grantor (duly indorsed to the Collateral Trustee, if required) for deposit in the Collateral Account. Notwithstanding anything to the
contrary in this Collateral Trust Agreement, unless a Notice of Event of Default is in effect, each Grantor may upon written request obtain the prompt release to it or its order of funds in the Collateral Account. Any written request or instruction
by any Grantor pursuant to the preceding sentence shall be full authority for and direction to the Collateral Trustee to make the requested release, and the Collateral Trustee shall promptly do so. The Collateral Trustee in so doing shall have no
liability to any Person. 
 (b) When a Notice of Event of Default is in effect and a Collateral Enforcement Action has been commenced, any
insurance proceeds in respect of any Collateral, any Proceeds from the exercise of rights of eminent domain or condemnation in respect of any Collateral and any liquidating dividends paid in respect of any Collateral received by any of the Grantors
shall be deposited in the Collateral Account, to be held therein and applied in accordance with Section 3 hereof. If for any reason any Grantor shall receive or hold any insurance proceeds, condemnation proceeds or liquidating dividends that
are required to be held by the Collateral Trustee pursuant to the first sentence of this subsection 2.11(b), such Grantor shall hold such proceeds or dividends in trust for the Collateral Trustee and the Secured Parties and shall, as promptly as
practicable, deliver such proceeds or dividends to the Collateral Trustee to be held in accordance with the provision of this subsection 2.11(b). 

  
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 2.12 Copies to Company. Notwithstanding any other provision of this Collateral Trust
Agreement or any Trust Security Document, each Holder Representative (or, in the case any other Secured Party sends such notice, such Secured Party) shall send to the Company, simultaneously with transmittal of the same to the Collateral Trustee, a
copy of each Notice of Event of Default, Notice of Acceleration, Notice of Cancellation, release direction or any other notice or other written communication sent by such Holder Representative or other Secured Party to the Collateral Trustee,
except, in each case, to the extent delivery of such copy would violate an automatic stay or similar prohibition arising from a bankruptcy filing; provided that the failure to send such notice or other written communication to the Company shall not
affect the effectiveness thereof. 
 SECTION 3. 

COLLATERAL ACCOUNT; DISTRIBUTIONS 

3.1 The Collateral Account. The Company shall use commercially reasonable efforts to establish, as soon as reasonably practicable after
the Effective Date, and, at all times thereafter until the trusts created by this Collateral Trust Agreement shall have terminated, there shall be maintained in the name of the Company at the office of the Collateral Trustee’s corporate trust
division (or at such other office selected by the Collateral Trustee) a non-interest bearing trust account (together with any other similar accounts which may be established by the Collateral Trustee, in
coordination with the Controlling Party, as may be necessary or advisable to administer the moneys delivered to the Collateral Trustee pursuant to the terms, hereof, collectively, the “Collateral Account”). All moneys which are
required by this Collateral Trust Agreement or any Trust Security Document to be delivered to the Collateral Trustee while a Notice of Event of Default is in effect or which are received by the Collateral Trustee or any agent or nominee of the
Collateral Trustee in respect of the Collateral, whether in connection with the exercise of the remedies provided in this Collateral Trust Agreement or any Trust Security Document or otherwise, while a Notice of Event of Default is in effect shall
be deposited in the Collateral Account, to be held by the Collateral Trustee as part of the Trust Estate and applied in accordance with the terms of this Collateral Trust Agreement. Upon the cancellation of all Notices of Event of Default pursuant
to subsection 2.1(c) or the receipt by the Collateral Trustee of any moneys at any time when no Notice of Event of Default is in effect, the Collateral Trustee shall (subject to subsection 3.4(a)) cause all funds on deposit in the Collateral Account
or otherwise received by the Collateral Trustee to be paid over as promptly as possible to the Company or as otherwise directed by the Company. 

3.2 Control of Collateral Account. All right, title and interest in and to the Collateral Account shall vest in the Collateral Trustee,
and funds on deposit in the Collateral Account shall constitute part of the Trust Estate. The Collateral Account shall be subject to the exclusive dominion and control of the Collateral Trustee. Each Grantor hereby grants (i) a security
interest in the Collateral Account to the Collateral Trustee for the benefit of the First Priority Secured Parties, as collateral security for such Grantor’s First Priority Secured Obligations, and (ii) a security interest in the
Collateral Account to the Collateral Trustee for the benefit of the Junior Priority Secured Parties, as collateral security for such Grantor’s Junior Priority Secured Obligations. 

3.3 Investment of Funds Deposited in Collateral Account. The Collateral Trustee shall, following an Event of Default and at the
direction of the Controlling Party (who, if a Holder Representative, shall be entitled to receive direction pursuant to any mechanisms provided for in the relevant Secured Instruments), invest and reinvest moneys on deposit in the Collateral Account
at any time in Cash Equivalents (as defined in the Collateral Agreement). The Collateral Trustee shall have no obligation to invest or reinvest the funds held in the Collateral Account if deposited after 11:00 a.m. (E.S.T.) on such day of deposit.
Instructions received after 11:00 a.m. (E.S.T.) will be treated as if received on the following Business Day. The Collateral Trustee shall have no responsibility for any investment losses resulting from the investment, reinvestment or liquidation of
the funds. Any interest or other income received on such investment and reinvestment of the funds shall become part of the Collateral Account and any losses incurred on such investment and reinvestment of the funds shall be

  
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debited against the Collateral Account. All such investments and the interest and income received thereon and the net proceeds realized on the sale or redemption thereof shall be held in the
Collateral Account as part of the Trust Estate. Neither the Collateral Trustee nor any other Secured Party shall be responsible for any diminution in funds resulting from such investments or any liquidation prior to maturity. In the absence of such
directions, the Collateral Trustee shall have no obligation to invest or reinvest any moneys. 
 It is understood and agreed that the
Collateral Trustee or its affiliates are permitted to receive fees and compensation associated with investments that could be deemed to be in the Collateral Trustee’s economic self-interest for (1) serving as investment adviser,
administrator, shareholder servicing agent, custodian or sub custodian with respect to certain of the investments, (2) using affiliates to effect transactions in certain investments and (3) effecting transactions in investments. In no
event shall the Collateral Trustee be deemed an investment manager or adviser in respect of any selection of investments hereunder. 
 3.4
Application of Moneys. 
 (a) The Collateral Trustee shall have the right (pursuant to subsection 4.6) at any time to apply moneys
held by it in the Collateral Account to the payment of due and unpaid Trustee Fees. The Collateral Trustee shall provide written notice to the Company of any such application of moneys. 

(b) All moneys held by the Collateral Trustee in the Collateral Account while a Notice of Event of Default is in effect and all proceeds of
Collateral received in connection with any Collateral Enforcement Action (including as a result of any collection, sale, foreclosure or other realization or distribution of or in respect of any Collateral (whether or not expressly characterized as
such) or in any Insolvency Proceeding (including any adequate protection payments), shall, to the extent available for distribution (it being understood that the Collateral Trustee may liquidate investments prior to maturity in order to make a
distribution pursuant to this subsection 3.4(b)), be distributed (subject to the provisions of subsections 3.4(c), 3.5, 3.7 and 8.2(f)) by the Collateral Trustee on each Distribution Date in the following order of priority (with such distributions
being made by the Collateral Trustee to the respective Holder Representative for the Secured Parties entitled thereto as provided in subsection 3.4(d), and each such Holder Representative shall be responsible for insuring that amounts distributed to
it are distributed to its Secured Parties in the order of priority set forth in the Secured Instruments in respect of which it acts as Holder Representative): 

First: to the Collateral Trustee or any Co-Collateral Trustee or agent of the
Collateral Trustee for any unpaid Trustee Fees and then to any Secured Party which has theretofore advanced or paid any Trustee Fees constituting administrative expenses allowable under Section 503(b) of the Bankruptcy Code or any similar
provision of any other applicable Bankruptcy Law, an amount equal to the amount thereof so advanced or paid by such Secured Party and for which such Secured Party has not been reimbursed prior to such Distribution Date, and, if such moneys shall be
insufficient to pay such amounts and perform in full, then ratably (without priority of any one over any other) to such Secured Parties in proportion to the amounts of such Trustee Fees advanced by the respective Secured Parties and remaining unpaid
on such Distribution Date; 
 Second: to the First Priority Agent and any Holder Representative ratably for any unpaid
fees, costs, indemnities and expenses payable to it in its capacity as a Holder Representative pursuant to the First Priority Debt Documents to the extent the same constitute First Priority Secured Obligations and the Existing Sprint Spectrum
Indenture; 

  
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 Third: to any Secured Party which has theretofore advanced or paid
any Trustee Fees other than such administrative expenses, an amount equal to the amount thereof so advanced or paid by such Secured Party and for which such Secured Party has not been reimbursed prior to such Distribution Date, and, if such moneys
shall be insufficient to pay such amounts and perform in full, then ratably (without priority of any one over any other) to such Secured Parties in proportion to the amounts of such Trustee Fees advanced by the respective Secured Parties and
remaining unpaid on such Distribution Date; 
 Fourth: to the holders of First Priority Secured Obligations in an
amount equal to the unpaid principal and unpaid interest on and premium and other charges, if any, with respect to the First Priority Secured Obligations and any primary obligations to pay principal, lease payments, guarantee payments, interest,
reimbursement obligations, repurchase amounts in respect of transferred assets, fees, prepayment premiums, liquidated damages or termination payments constituting First Priority Initial Spectrum Obligations, the amount of cash collateral required in
respect of outstanding letters of credit, termination amounts in respect of Designated Hedging Obligations that constitute Permitted First Priority Non-Loan Exposure, amounts due in respect of Designated Cash
Management Obligations that constitute Permitted First Priority Non-Loan Exposure, amounts due in respect of Designated L/C Facility Obligations that constitute Permitted First Priority Non-Loan Exposure, and interest and fees thereon, in each case, to the extent the same are due and payable, as of such Distribution Date, and, if such moneys shall be insufficient to pay such amounts and perform in
full, then ratably to such holders in proportion to the unpaid amounts thereof on such Distribution Date; provided, that following the commencement of any Insolvency Proceeding with respect to any Grantor, solely as among the holders of First
Priority Secured Obligations and solely for purposes of this clause “Fourth” and not any other First Priority Debt Documents, in the event the value of the Collateral is not sufficient for the entire amount of Post-Petition Interest on the
First Priority Secured Obligations to be allowed under Section 506(a) and (b) of the Bankruptcy Code or any other applicable provision of the Bankruptcy Code or other Bankruptcy Law in such Insolvency Proceeding, the amount of First
Priority Secured Obligations of each series of First Priority Secured Obligations shall include only the maximum amount of Post-Petition Interest on the First Priority Secured Obligations allowable under Section 506(a) and (b) of the
Bankruptcy Code or any other applicable provision of the Bankruptcy Code or other Bankruptcy Law in such Insolvency Proceeding; 

Fifth: to the holders of First Priority Secured Obligations in an amount equal to all other amounts constituting First
Priority Secured Obligations, including but not limited to indemnities and payments for increased costs (but excluding amounts referenced in clause “Fourth” above), in each case to the extent the same are due and payable, as of such
Distribution Date, and, if such moneys shall be insufficient to pay such amounts and perform in full, then ratably to such holders in proportion to the unpaid amounts thereof on such Distribution Date; 

Sixth: after the payment in full of all First Priority Secured Obligations, to the holders of Junior Priority Secured
Obligations in an amount equal to all Junior Priority Secured Obligations which have not been paid, including termination amounts in respect of Designated Hedging Obligations that constitute Permitted Junior Priority
Non-Loan Exposure, amounts due in respect of Designated Cash Management Obligations that constitute Permitted Junior Priority Non-Loan Exposure and all other Junior
Priority Secured Obligations (including but not limited to the unpaid principal and unpaid interest on and premium and other charges, if any, with respect to such Junior Priority Secured Obligations) then outstanding, in each case to the extent then
due and payable, as of such Distribution Date, and, if such moneys shall be insufficient to pay such amounts and perform in full, then ratably to such holders in proportion to the unpaid amounts thereof on such Distribution Date; and 

  
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 Seventh: after the payment in full of all Junior Priority Secured
Obligations, any surplus then remaining shall be paid to the Grantors or their successors or assigns or to whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 

(c) Notwithstanding anything to the contrary above, the proceeds of any Specified Collateral shall be distributed (in the manner set forth
above) solely to Secured Parties that are holders of the applicable Specified First Priority Secured Obligations and shall not be distributed to any other Secured Party. 

(d) The term “unpaid” as used in subsection 3.4(b) with respect to the relevant Grantor(s), refers to all amounts of First Priority
Secured Obligations or Junior Priority Secured Obligations, as the case may be, Outstanding as of a Distribution Date, whether or not such amounts are fixed or contingent, and, in the case of an Insolvency Proceeding, with respect to any Grantor,
whether or not such amounts are allowed in such Insolvency Proceeding, to the extent that prior distributions (whether actually distributed or set aside pursuant to subsection 3.5) have not been made in respect thereof. 

(e) The Collateral Trustee shall make all payments and distributions under this subsection 3.4: (i) on account of First Priority Secured
Obligations to each applicable Holder Representative, pursuant to payment instructions and information supplied by such Holder Representative, in accordance with the provisions of this Collateral Trust Agreement; (ii) on account of Junior
Priority Secured Obligations, to each applicable Holder Representative, pursuant to payment instructions and information supplied by such Holder Representative, in accordance with the provisions of this Collateral Trust Agreement, and (iii) on
account of any other Secured Obligation, to the relevant Secured Party based on the payment instructions and information supplied to the Collateral Trustee by the relevant Secured Party or the Company pursuant to subsection 7.1. 

If any Holder Representative or any holder of any Secured Obligations collects or receives any proceeds of such foreclosure, collection or other enforcement
that was not, and should have been, applied to the payment of the Secured Obligations in accordance with clauses (a) and (b) of subsection 3.4, whether after the commencement of an Insolvency Proceeding or otherwise, such
Holder Representative or such holder of Secured Obligations, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Secured Obligations, to be applied in accordance with clauses
(a) and (b) of subsection 3.4. Until so delivered, such proceeds will be held by that Debt Representative or that holder of Secured Obligations, as the case may be, for the benefit of the holders of the Secured Obligations.

 3.5 Amounts Held for Contingent Secured Obligations. In the event any Secured Party shall be entitled to receive any moneys in
respect of the unliquidated, unmatured or contingent portion of the outstanding Secured Obligations (including, without limitation, obligations under then outstanding letters of credit, guarantees and termination liabilities with respect to
Designated Hedging Obligations which are not determinable or are unmatured), then the Collateral Trustee, pursuant to written direction of the Controlling Party as provided in accordance with subsection 3.3 shall invest such moneys as shall be
specified in obligations of the kinds referred to in subsection 3.3 maturing within three months after they are acquired by the Collateral Trustee and shall hold all such amounts so distributable, and all such investments and the net proceeds
thereof, in trust solely for such Secured Party and for no other purpose until (i) such Secured Party shall have notified the Collateral Trustee that all or part of such unliquidated, unmatured or contingent claim shall have become matured or
fixed, in which case the Collateral Trustee shall distribute from such investments and the proceeds thereof an amount equal to such matured or fixed 

  
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claim to such Secured Party for application to the payment of such matured or fixed claim, and shall promptly give notice thereof to the Company or (ii) all or part of such unliquidated,
unmatured or contingent claim shall have been extinguished, whether as the result of an expiration without drawing of any letter of credit, payment of amounts secured or covered by any letter of credit other than by drawing thereunder, payment of
amounts covered by any guarantee or otherwise, in which case (x) such Secured Party shall, as soon as practicable thereafter, notify the Company and the Collateral Trustee and (y) such investments, and the proceeds thereof, shall be held
in the Collateral Account in trust for all Secured Parties pending application in accordance with the provisions of subsection 3.4. 
 3.6
Collateral Trustee’s Calculations. In making the determinations and allocations required by subsections 3.4 or 3.5, the Collateral Trustee may conclusively rely upon information supplied by the First Priority Agent through
the applicable Holder Representative as to the amounts of unpaid principal and interest and other amounts outstanding with respect to the First Priority Secured Obligations, information supplied by the Junior Priority Agent through the applicable
Holder Representative as to the amounts of unpaid principal and interest and other amounts outstanding with respect to the Junior Priority Secured Obligations, and information supplied by the applicable Secured Party in respect of the relevant
Secured Non-Loan Exposure as to the unpaid amount of such Secured Obligations, and the Collateral Trustee shall have no liability to any of the Secured Parties for actions taken in reliance on such
information, provided that nothing in this sentence shall prevent any Grantor from contesting any amounts claimed by any Secured Party in any information so supplied. Upon the reasonable request of the Collateral Trustee or, if applicable,
the First Priority Agent, the First Priority Agent, the Junior Priority Agent, the applicable Holder Representative or any other Secured Party, as the case may be, shall deliver to the Collateral Trustee or First Priority Agent a certificate (which
may, for the avoidance of doubt, be the relevant report provided to it pursuant to the underlying First Priority Debt Documents or Junior Priority Debt Documents) setting forth the information specified in this subsection 3.6. All distributions made
by the Collateral Trustee pursuant to subsection 3.4 shall be (subject to subsection 3.7 and to any decree of any court of competent jurisdiction) final (absent manifest error), and the Collateral Trustee shall have no duty to inquire as to the
application by any Holder Representative in respect of any amounts distributed to them. 
 3.7 Pro Rata Sharing. If, through the
operation of any Bankruptcy Law or otherwise, the Collateral Trustee’s security interest hereunder and under the Trust Security Documents is enforced with respect to some, but not all, of the Secured Obligations then outstanding, the Collateral
Trustee shall nonetheless apply the proceeds of the Collateral for the benefit of the holders of all Secured Obligations in the proportions and subject to the priorities specified herein; provided, however, that nothing in this
subsection 3.7 shall be deemed to require the Collateral Trustee to disregard or violate any court order binding upon it. 
 3.8
Collateral Account Information and Access. At such times as the Company or Controlling Party may reasonably request in writing, the Collateral Trustee shall provide a full accounting of all funds then standing to the credit of the Collateral
Account. The Collateral Trustee shall also provide the necessary information to enable the Company to electronically access account statements and data for the Collateral Account. 

SECTION 4. 
 AGREEMENTS WITH
COLLATERAL TRUSTEE 
 4.1 Delivery of Secured Instruments. On the Effective Date, the Company shall deliver to the Collateral Trustee
copies of each Secured Instrument and each Trust Security Document then in effect. The Company shall deliver to the Collateral Trustee, promptly upon request therefor, a copy of all amendments, modifications or supplements to any Secured Instrument
entered into after the Effective Date. 

  
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 4.2 Compensation and Expenses. The Company agrees to pay to the Collateral Trustee,
from time to time upon demand, (i) compensation as set forth in that certain separate fee agreement between the Company and the Collateral Trustee] and (ii) all of the reasonable and documented fees, costs and expenses of the Collateral
Trustee (including, without limitation, the reasonable and documented fees and disbursements of its advisors and agents and one outside counsel to the Collateral Trustee and, if necessary, one additional counsel in each relevant
jurisdiction) (A) arising in connection with the preparation, execution, delivery, modification, administration and termination of this Collateral Trust Agreement and each Trust Security Document or the enforcement of any of the provisions
hereof or thereof, (B) incurred or required to be advanced in connection with the administration of the Trust Estate, the sale or other disposition of Collateral pursuant to any Trust Security Document and the preservation, protection or
defense of the Collateral Trustee’s rights under this Collateral Trust Agreement and the Trust Security Documents and in and to the Collateral and the Trust Estate, (C) incurred by the Collateral Trustee in connection with the removal of
the Collateral Trustee pursuant to subsection 5.7(a) or (D) incurred in connection with the execution of the directions provided by the Controlling Party. Such fees, costs and expenses are intended to constitute expenses of administration under
any Bankruptcy Law relating to creditors’ rights generally. If the Company fails to pay any amounts owing to the Collateral Trustee pursuant to this subsection 4.2, the Secured Parties whose Holder Representative is the Controlling Party
(excluding, for the avoidance of doubt, the Collateral Trustee and any applicable Holder Representative) shall indemnify the Collateral Trustee on a pro rata basis amongst such Secured Parties; provided that such Secured Parties may, subject
to the immediately succeeding sentence, seek indemnification of any amounts paid by them to the Collateral Trustee pursuant to this subsection 4.2 from all the other Secured Parties (excluding, for the avoidance of doubt, the Collateral Trustee and
any applicable Holder Representative) in an amount that will result in the sharing of such amounts paid to the Collateral Trustee pursuant to this subsection 4.2 on a pro rata basis amongst all the Secured Parties (other than the Collateral Trustee
and any applicable Holder Representative), and such other Secured Parties shall indemnify the Secured Parties whose Holder Representative is the Controlling Party for such amounts. Notwithstanding the foregoing, it is expressly understood and agreed
that the immediately preceding sentence shall not be, and shall not be deemed to be, an agreement by the Holder Representative in respect of the First Priority Initial Spectrum Obligations, on behalf of the holders of the First Priority Initial
Spectrum Obligations or otherwise (including in respect of the holders of the Existing Sprint Spectrum-Backed Notes), to provide such indemnification. The agreements in this this subsection 4.2 shall survive the termination of the other provisions
of this Collateral Trust Agreement and the resignation or removal of the Collateral Trustee hereunder. 
 4.3 Stamp and Other Similar
Taxes. The Company agrees to indemnify and hold harmless the Collateral Trustee, each Holder Representative and each Secured Party from any present or future claim for liability for any stamp or any other similar tax, and any penalties or
interest with respect thereto, which may be assessed, levied or collected by any jurisdiction in connection with this Collateral Trust Agreement, any Trust Security Document, the Trust Estate or any Collateral. The obligations of the Company under
this subsection 4.3 shall survive the termination of the other provisions of this Collateral Trust Agreement, the resignation or removal of the Collateral Trustee hereunder and the resignation or removal of the relevant Holder Representative under
the applicable First Priority Debt Documents. 
 4.4 Filing Fees, Etc. The Company agrees to pay or to reimburse the Collateral
Trustee for any and all payments made by the Collateral Trustee in respect of all search, filing, recording and registration fees which may be payable in respect of the execution and delivery of this Collateral Trust Agreement and each Trust
Security Document. For the avoidance of doubt, nothing herein shall require the Collateral Trustee to file financing statements or continuation statements, or be responsible for maintaining the security interests purported to be created as described
herein (except for the safe custody of any Collateral in its possession and accounting for moneys actually received by it hereunder). The obligations of the Company under this subsection 4.4 shall survive the termination of the other provisions of
this Collateral Trust Agreement and the resignation or removal of the Collateral Trustee hereunder. 

  
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 4.5 Indemnification. The Company agrees to pay, indemnify, and hold the Collateral
Trustee (and its directors, officers, agents and employees) harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including, without limitation, the reasonable fees
and expenses of counsel, advisors and agents) or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Collateral Trust Agreement and the Trust Security Documents,
except to the extent arising from the gross negligence or willful misconduct (in any case, as determined by a final judgment of a court of competent jurisdiction) of the indemnified party or any of its affiliates or any of their respective
directors, officers, agents or employees, including for taxes in any jurisdiction in which the Collateral Trustee is subject to tax by reason of actions hereunder or under the Trust Security Documents, unless such taxes are imposed on or measured by
compensation paid to the Collateral Trustee under subsection 4.2; provided that the Company shall not be liable for any settlement of claim, investigation, litigation or proceeding effected without the Company’s consent (which consent
shall not be unreasonably withheld or delayed). If the Company fails to pay any amounts owing to the Collateral Trustee pursuant to this subsection 4.5, the Secured Parties whose Holder Representative is the Controlling Party (excluding, for the
avoidance of doubt, the Collateral Trustee and any applicable Holder Representative) shall indemnify the Collateral Trustee on a pro rata basis amongst such Secured Parties; provided that such Secured Parties may, subject to the immediately
succeeding sentence, seek indemnification of any amounts paid by them to the Collateral Trustee pursuant to this subsection 4.5 from all the other Secured Parties (excluding, for the avoidance of doubt, the Collateral Trustee and any applicable
Holder Representative) in an amount that will result in the sharing of such amounts paid to the Collateral Trustee pursuant to this subsection 4.5 on a pro rata basis amongst all the Secured Parties (other than the Collateral Trustee and any
applicable Holder Representative), and such other Secured Parties shall indemnify the Secured Parties whose Holder Representative is the Controlling Party for such amounts. Notwithstanding the foregoing, it is expressly understood and agreed that
the immediately preceding sentence shall not be, and shall not be deemed to be, an agreement by the Holder Representative in respect of the First Priority Initial Spectrum Obligations, on behalf of the holders of the First Priority Initial Spectrum
Obligations or otherwise (including in respect of the holders of the Existing Sprint Spectrum-Backed Notes), to provide such indemnification. The agreements in this subsection 4.5 shall survive the termination of the other provisions of this
Collateral Trust Agreement and the resignation or removal of the Collateral Trustee hereunder. 
 4.6 Trustee’s
Lien. Notwithstanding anything to the contrary in this Collateral Trust Agreement, as security for the payment of Trustee Fees (i) the Collateral Trustee is hereby granted a lien upon all Collateral which shall have priority ahead of all
other Secured Obligations secured by such Collateral and (ii) the Collateral Trustee shall have the right to use and apply any of the funds held by the Collateral Trustee in the Collateral Account to cover such Trustee Fees. 

4.7 Further Assurances. Each Grantor will promptly execute and deliver any and all such further instruments and documents and take such
further action as is reasonably requested by the First Priority Agent (or, if there is no First Priority Agent, as is necessary or desirable) or that a Holder Representative may reasonably request pursuant to any Secured Instrument or Trust Security
Document (and subject to any limitations set forth therein) further to perfect, or to protect the perfection of, the liens and security interests granted under the Trust Security Documents, including, without limitation, the filing of any financing
or continuation statements under the Uniform Commercial Code in effect in any jurisdiction. Notwithstanding the foregoing, in no event shall the Collateral Trustee or any Holder Representative have any obligation to monitor the perfection or
continuation of perfection or the sufficiency or validity of any security interest in or related to the Collateral. 

  
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 4.8 Inspection of Properties and Books. So long as a Notice of Event of Default shall
be in effect, the Company and the Grantors shall give the Collateral Trustee access, at its request, to all Collateral and to all books, records, documents and information in the possession of the Company or any other Grantor or any of their
respective Subsidiaries relating thereto. The Company and the Grantors shall not have any obligation to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter
(i) that constitutes trade secrets or proprietary information, (ii) in respect of which disclosure to the Collateral Trustee (or its representatives or contractors) is prohibited by any applicable law or any binding agreement or
(iii) that is subject to attorney-client or similar privilege or constitutes attorney work product. 
 SECTION 5. 

THE COLLATERAL TRUSTEE 
 5.1
Acceptance of Trust. The Company and the Grantors and each Holder Representative party hereto do hereby appoint (and each Holder Representative (on behalf of itself and each Secured Party that it represents) or Grantor that from time to time
becomes a party hereto is deemed to appoint), pursuant to the terms and conditions of this Collateral Trust Agreement, Deutsche Bank Trust Company Americas to act as Collateral Trustee with the authority to take the actions of the Collateral Trustee
under this Collateral Trust Agreement and the Trust Security Documents, together with such actions and powers as are reasonably incidental thereto. The Collateral Trustee, for itself and its successors, hereby accepts its obligations under this
Collateral Trust Agreement upon the terms and conditions hereof. The Secured Parties hereby authorize the Collateral Trustee to enter into this Collateral Trust Agreement and the Trust Security Documents to which it is party. 

5.2 Exculpatory Provisions. 

(a) The Collateral Trustee shall not be responsible in any manner whatsoever for the correctness of any recitals, statements, representations
or warranties herein, all of which are made solely by the Grantors. The Collateral Trustee makes no representations as to the value or condition of the Trust Estate or any part thereof, or as to the title of the Grantors thereto or as to the
security afforded by this Collateral Trust Agreement or any Trust Security Document, or as to the validity, execution (except its execution), enforceability, legality or sufficiency of this Collateral Trust Agreement, the Trust Security Documents or
the Secured Obligations, and the Collateral Trustee shall incur no liability or responsibility in respect of any such matters. The Collateral Trustee shall not be responsible for insuring the Trust Estate or for the payment of taxes, charges,
assessments or liens upon the Trust Estate or otherwise as to the maintenance of the Trust Estate. The Collateral Trustee is acting solely as an agent for the Secured Parties hereunder and does not assume and shall not be deemed to have assumed any
obligation of a fiduciary for or with any Grantor, the Secured Parties or any other party. 
 (b) The Collateral Trustee shall not be
required to ascertain or inquire as to the performance by the Grantors of any of the covenants or agreements contained herein or in any Trust Security Document or Secured Instrument. Whenever it is necessary, or in the opinion of the Collateral
Trustee advisable, for the Collateral Trustee to ascertain the amount of Secured Obligations then held by Secured Parties, the Collateral Trustee may rely on (i) a certificate of the First Priority Agent or relevant Holder Representative, in
the case of First Priority Credit Agreement Obligations, (ii) a certificate of the Junior Priority Agent or relevant Holder Representative, in the case of any Junior Priority Debt Obligations, and (iii) a certificate of the relevant
Secured Party, in the case of any Secured Non-Loan Exposure, and, if the First Priority Agent, the Junior Priority Agent or any relevant Secured Party shall not give such information to the Collateral Trustee,
it shall not be entitled to 

  
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receive distributions hereunder (in which case distributions to those Persons who have supplied such information to the Collateral Trustee shall be calculated by the Collateral Trustee using, for
those Persons who have not supplied such information, the most recent information, if any, received by the Collateral Trustee), and the amount so calculated to be distributed to the Person who fails to give such information shall be held in trust
for such Person until such Person does supply such information to the Collateral Trustee, whereupon on the next Distribution Date the amount distributable to such Person shall be recalculated using such information and distributed to it. Nothing in
this subsection 5.2(b) shall prevent any Grantor from contesting any amounts claimed by any Secured Party in any certificate so supplied. Notwithstanding anything to the contrary set forth in this subsection 5.2(b), so long as no Notice of Event of
Default is in effect, the Collateral Trustee may rely conclusively on a certificate of a Responsible Officer of the Company with respect to the matters set forth in the second sentence of this subsection 5.2(b). 

(c) The Collateral Trustee shall be under no obligation or duty to take any action under this Collateral Trust Agreement or any Trust Security
Document if taking such action (i) would subject the Collateral Trustee to a tax in any jurisdiction where it is not then subject to a tax, (ii) in its reasonable opinion or in the reasonable opinion of its counsel, may expose the
Collateral Trustee to liability or that is contrary to this Collateral Trust Agreement or applicable law or (iii) would require the Collateral Trustee to qualify to do business in any jurisdiction where it is not then so qualified, unless the
Collateral Trustee receives security or indemnity satisfactory to it against such tax (or equivalent liability), or any liability resulting from such qualification, in each case as results from the taking of such action under this Collateral Trust
Agreement or any Trust Security Document. 
 (d) The Collateral Trustee shall have the same rights with respect to any Secured Obligation
held by it as any other Secured Party and may exercise such rights as though it were not the Collateral Trustee hereunder, and may accept deposits from, lend money to, and generally engage in any kind of banking or trust business with, any of the
Grantors as if it were not the Collateral Trustee. 
 (e) Notwithstanding any other provision of this Collateral Trust Agreement, the
Collateral Trustee shall not be liable for any action taken or omitted to be taken in accordance with this Collateral Trust Agreement or the Trust Security Documents except to the extent of its own gross negligence or willful misconduct as
determined pursuant to a final, non-appealable order of a court of competent jurisdiction. 
 (f) The
Collateral Trustee shall have no responsibility for the preparation, filing or recording of any instrument, document or financing statement or for the maintenance of any security interest intended to be perfected thereby. 

(g) In the event that the Collateral Trustee is required to acquire title to any real estate or equity interest-related collateral for any
reason, or take any managerial action of any kind in regard thereto, in order to carry out any obligation for the benefit of another, which in the Collateral Trustee’s sole discretion may cause the Collateral Trustee to be considered an
“owner or operator” under the provisions of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (“CERCLA”), or otherwise cause the Collateral Trustee to incur liability (including environmental
liability) under CERCLA or any other federal, state or local law, the Collateral Trustee reserves the right, instead of taking such action, to either resign as Collateral Trustee or arrange for the transfer of the title or control of the asset to a
court-appointed receiver. The Collateral Trustee shall not be liable to the Secured Parties, any Grantor or any other Person for any environmental liability or any other liability under any federal, state or local law, rule or regulation by reason
of such Collateral Trustee’s actions and conduct as authorized, empowered and directed hereunder or relating to the discharge, release or threatened release of hazardous materials into the environment. If at any time it is necessary or
advisable for any part of any 

  
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Grantor’s property to be possessed, owned, operated or managed by any Person (including the Collateral Trustee) other than a Grantor, the Controlling Party (as directed by the requisite
Secured Parties, if applicable) shall direct the Collateral Trustee to appoint an appropriately qualified Person (excluding the Collateral Trustee) who they shall designate to possess, own, operate or manage, as the case may be, such part of such
Grantor’s property. 
 (h) The Collateral Trustee shall be afforded all of the same rights, protections, immunities and other
indemnities afforded to it hereunder under each other Trust Security Document and any other document or agreement executed in connection herewith and therewith as if the same were specifically set forth therein. 

5.3 Delegation of Duties. The Collateral Trustee may execute any of the trusts or powers hereof and perform any duty hereunder either
directly or by or through agents (including, for the avoidance of doubt, in connection with any public or private sale of Collateral, one or more brokers, investment bankers, consultants, affiliates, liquidation agents or other professionals) or attorneys-in-fact. The Collateral Trustee shall be entitled to advice of counsel concerning all matters pertaining to such trusts, powers and duties. The Collateral Trustee
shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it without gross negligence or willful misconduct. 

5.4 Reliance by Collateral Trustee. 

(a) Whenever in the administration of this Collateral Trust Agreement or the Trust Security Documents the Collateral Trustee shall deem it
necessary or desirable that a factual matter be proved or established in connection with the Collateral Trustee taking, suffering or omitting any action hereunder or thereunder, such matter may be deemed to be conclusively proved or established by a
certificate of a financial or other senior officer of the Company or Controlling Party, as applicable, delivered to the Collateral Trustee, and such certificate shall be full warrant to the Collateral Trustee for any action taken, suffered or
omitted in reliance thereon, subject, however, to the provisions of subsection 5.5. 
 (b) The Collateral Trustee may consult with legal
counsel, and any Opinion of Counsel (or other legal advice of such counsel) shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder or under any Trust Security Document in accordance
therewith. The Collateral Trustee shall have the right at any time to seek instructions concerning the administration of this Collateral Trust Agreement and the Trust Security Documents from any court of competent jurisdiction. 

(c) The Collateral Trustee may conclusively rely, and shall be fully protected in acting, upon any resolution, statement, certificate,
instrument, opinion, report, notice, request, consent, order, bond or other paper or document which it has no reason to believe to be other than genuine and to have been signed or presented by the proper party or parties or, in the case of emails,
cables, telecopies and telexes, to have been sent by the proper party or parties. In the absence of its own gross negligence or willful misconduct, the Collateral Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon any certificates or opinions furnished to the Collateral Trustee and conforming to the requirements of this Collateral Trust Agreement. 

(d) The Collateral Trustee shall not be under any obligation to exercise any of the rights or powers vested in the Collateral Trustee by this
Collateral Trust Agreement and the Trust Security Documents, at the request or direction of the Controlling Party pursuant to this Collateral Trust Agreement or otherwise, unless the Collateral Trustee shall have been provided security and indemnity
satisfactory to it against the costs, expenses and liabilities which may be incurred by the Collateral Trustee in compliance with such request or direction, including such reasonable advances as may be requested by the Collateral Trustee. 

  
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 (e) Upon any application or demand by any of the Grantors to the Collateral Trustee to take
or permit any action under any of the provisions of this Collateral Trust Agreement or any Trust Security Document, the Company shall furnish to the Collateral Trustee a certificate of a Responsible Officer of the Company stating that all conditions
precedent, if any, provided for in this Collateral Trust Agreement, in any relevant Trust Security Document or in the First Priority Debt Documents or the Junior Priority Debt Documents relating to the proposed action have been (or, substantially
contemporaneously with such action, shall be) complied with, and in the case of any such application or demand as to which the furnishing of any document is specifically required by any provision of this Collateral Trust Agreement or a Trust
Security Document relating to such particular application or demand, such additional document shall also be furnished. 
 (f) Any Opinion of
Counsel may be based, insofar as it relates to factual matters, upon a certificate of a financial or other appropriate officer provided to such counsel in connection with such opinion or representations made by a financial or other senior officer in
a writing filed with the Collateral Trustee. 
 5.5 Limitations on Duties of Trustee. 

(a) The Collateral Trustee shall be obligated to perform such duties and only such duties as are specifically set forth in this Collateral
Trust Agreement and the Trust Security Documents, and no implied covenants or obligations shall be read into this Collateral Trust Agreement or any Trust Security Document against the Collateral Trustee. The title “Collateral Trustee” is
used herein for convenience and the Collateral Trustee shall not have any fiduciary obligations. If and so long as a Notice of Event of Default is in effect, the Collateral Trustee shall, subject to the provisions of subsection 2.5(b), exercise the
rights and powers vested in the Collateral Trustee by this Collateral Trust Agreement and the Trust Security Documents, and shall not be liable with respect to any action taken, or omitted to be taken, in accordance with the direction of the
Controlling Party. 
 (b) The Collateral Trustee shall not be under any obligation to take or refrain from any action which is discretionary
in nature under the provisions hereof or of any Trust Security Document, except upon the written request of the Controlling Party as to the exercise of such discretion at such time. The Collateral Trustee shall make available for inspection and
copying by each Holder Representative and each relevant Secured Party in respect of any Secured Non-Loan Exposure, each certificate or other paper furnished to the Collateral Trustee by any of the Grantors
under or in respect of this Collateral Trust Agreement or any of the Collateral. 
 (c) No provision of this Collateral Trust Agreement or of
any Trust Security Document shall be deemed to impose any duty or obligation on the Collateral Trustee to perform any act or acts or exercise any right, power, duty or obligation conferred or imposed on it, in any jurisdiction in which it shall be
illegal, or in which the Collateral Trustee shall be unqualified or incompetent, to perform any such act or acts or to exercise any such right, power, duty or obligation or if such performance or exercise would constitute doing business by the
Collateral Trustee in such jurisdiction or impose a tax on the Collateral Trustee by reason thereof or to risk its own funds or otherwise incur any financial liability in the performance of its duties hereunder. 

  
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 (d) Whenever reference is made in this Collateral Trust Agreement to any action by, consent,
designation, specification, requirement of approval of, notice, request or other communication from, or other direction given or action to be undertaken or to be (or not to be) suffered or omitted by the Collateral Trustee or to any election,
decision, opinion, acceptance, use of judgment, expression of satisfaction or other exercise of discretion, rights or remedies to be made (or not to be made) by the Collateral Trustee in this Collateral Trust Agreement and any Trust Security
Document, it is understood that in all cases the Collateral Trustee shall only act, give, withhold, suffer, omit, take or otherwise undertake and exercise the same (or shall not undertake and exercise the same), as directed by the Company, the
Controlling Party, First Priority Agent, Junior Priority Agent or Holder Representative, as applicable. In all cases the Collateral Trustee shall be fully justified in failing or refusing to take any such action under this Collateral Trust Agreement
if it shall not have received such written instruction, advice or concurrence. Additionally, under no circumstances shall the Collateral Trustee be liable for any delay in acting, or liability caused by such delay, while it is awaiting such
direction or indemnity. This provision is intended solely for the benefit of the Collateral Trustee and its successors and permitted assigns and is not intended to and will not entitle the other parties hereto to any defense, claim or counterclaim,
or confer any rights or benefits on any party hereto. 
 (e) The permissive authorization, entitlements, powers and rights (including the
right to request that a Grantor take an action or deliver a document and the exercise of remedies following an Event of Default) granted to the Collateral Trustee herein shall not be construed as duties. 

(f) The Collateral Trustee shall not be deemed to have notice of any Event of Default unless a Responsible Officer has actual knowledge thereof
(including by receipt of such Responsible Officer of a Notice of Event of Default). 
 5.6 Moneys to be Held in Trust. All moneys
received by the Collateral Trustee under or pursuant to any provision of this Collateral Trust Agreement or any Trust Security Document (except Trustee Fees) shall be held in trust for the purposes for which they were paid or are held. 

5.7 Resignation and Removal of the Collateral Trustee. 

(a) The Collateral Trustee may at any time, by giving 30 days’ written notice to the Company and each Holder Representative, resign and be
discharged of the responsibilities hereby created, such resignation to become effective upon (i) the appointment of a successor Collateral Trustee, (ii) the acceptance of such appointment by such successor Collateral Trustee and
(iii) the approval of such successor Collateral Trustee evidenced by one or more instruments signed by the Controlling Party and, so long as no Notice of Event of Default is then in effect, by the Company (which approval, in each case, shall
not be unreasonably withheld or delayed). If no successor Collateral Trustee shall be appointed and shall have accepted such appointment within 60 days after the Collateral Trustee gives the aforesaid notice of resignation, the Collateral Trustee,
the Company or the Controlling Party may apply to any court of competent jurisdiction to appoint a successor Collateral Trustee to act until such time, if any, as a successor Collateral Trustee shall have been appointed as provided in this
subsection 5.7. Any successor so appointed by such court shall immediately and without further act be superseded by any successor Collateral Trustee appointed by the Controlling Party, as provided in subsection 5.7(b). The Controlling Party may, at
any time upon giving 30 days’ prior written notice thereof to the Collateral Trustee and each other Holder Representative, and with the consent of the Company (such consent not to be unreasonably withheld or delayed) remove the Collateral
Trustee and appoint a successor Collateral Trustee, such removal to be effective upon the acceptance of such appointment by the successor. The Collateral Trustee shall be paid its Trustee Fees to the extent incurred or arising, or relating to events
occurring, before such resignation or removal. 

  
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 (b) If at any time the Collateral Trustee shall resign or be removed or otherwise become
incapable of acting, or if at any time a vacancy shall occur in the office of the Collateral Trustee for any other cause, a successor Collateral Trustee may be appointed by the Controlling Party with the consent (not to be unreasonably withheld or
delayed) of the Company. The powers, duties, authority and title of the predecessor Collateral Trustee shall be terminated and cancelled without procuring the resignation of such predecessor and without any other formality (except for the consent of
the Company referred to above and as may be required by applicable law) than appointment and designation of a successor in writing duly delivered to the predecessor and the Company. Such appointment and designation shall be full evidence of the
right and authority to make the same and of all the facts therein recited, and this Collateral Trust Agreement and the Trust Security Documents shall vest in such successor, without any further act, deed or conveyance, all the estates, properties,
rights, powers, trusts, duties, authority and title of its predecessor; but such predecessor shall, nevertheless, on the written request of the Controlling Party, the Company, or the successor, execute and deliver an instrument transferring to such
successor all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor hereunder and under the Trust Security Documents and shall deliver all Collateral held by it or its agents to such successor,
provided that any outstanding Trustee Fees have been paid in full. Should any deed, conveyance or other instrument in writing from any Grantor be required by any successor Collateral Trustee for more fully and certainly vesting in such
successor the estates, properties, rights, powers, trusts, duties, authority and title vested or intended to be vested in the predecessor Collateral Trustee, any and all such deeds, conveyances and other instruments in writing shall, on request of
such successor, be executed, acknowledged and delivered by such Grantor. If such Grantor shall not have executed and delivered any such deed, conveyance or other instrument within 15 Business Days after it received a written request from the
successor Collateral Trustee to do so, or if a Notice of Event of Default is in effect, the predecessor Collateral Trustee may execute the same on behalf of such Grantor. Such Grantor hereby appoints any predecessor Collateral Trustee as its agent
and attorney to act for it as provided in the next preceding sentence. 
 5.8 Status of Successor Collateral Trustee. Every successor
Collateral Trustee appointed pursuant to subsection 5.7 shall be a bank or trust company in good standing and having power to act as Collateral Trustee hereunder, incorporated under the laws of the United States of America or any State thereof or
the District of Columbia and having its principal corporate trust office within the 48 contiguous States and shall also have capital, surplus and undivided profits of not less than $500,000,000, if there be such an institution with such capital,
surplus and undivided profits willing, qualified and able to accept the trust hereunder upon reasonable or customary terms. 
 5.9 Merger
of the Collateral Trustee. Any corporation into which the Collateral Trustee may be merged, or with which it may be consolidated, or any corporation resulting from any merger or consolidation to which the Collateral Trustee shall be a party,
shall be Collateral Trustee under this Collateral Trust Agreement and the Trust Security Documents without the execution or filing of any paper or any further act on the part of the parties hereto. 

5.10 Co-Collateral Trustee; Separate Collateral Trustee. 

(a) If at any time or times it shall be necessary or prudent in order to conform to any law of any jurisdiction in which any of the Collateral
shall be located, or to avoid any violation of law or imposition on the Collateral Trustee of taxes by such jurisdiction not otherwise imposed on the Collateral Trustee, or the Collateral Trustee shall be advised by counsel, satisfactory to it, that
it is necessary or prudent in the interest of the Secured Parties, or any Holder Representative shall in writing so request the Collateral Trustee and the Grantors, or the Collateral Trustee shall deem it desirable for its own protection in the
performance of its duties hereunder or under any Trust Security Document, the Collateral Trustee and each of the Grantors shall execute and deliver all instruments and agreements necessary or proper to constitute another bank or trust company, or
one or more persons approved by the Collateral Trustee and the Grantors, either to act as co-trustee or co-trustees of all or any of the Collateral under this Collateral
Trust Agreement or under any of the Trust Security Documents, jointly with the Collateral Trustee 

  
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originally named herein or therein or any successor Collateral Trustee, or to act as separate trustee or trustees of any of the Collateral. If any of the Grantors shall not have joined in the
execution of such instruments and agreements within 30 days after it receives a written request from the Collateral Trustee to do so, or if a Notice of Event of Default is in effect, the Collateral Trustee may act under the foregoing provisions of
this subsection 5.10(a) without the concurrence of such Grantors and execute and deliver such instruments and agreements on behalf of such Grantors. Each of the Grantors hereby appoints the Collateral Trustee as its agent and attorney to act for it
under the foregoing provisions of this subsection 5.10(a) in either of such contingencies. 
 (b) Every separate trustee and every co-trustee, other than any successor Collateral Trustee appointed pursuant to subsection 5.7, shall, to the extent permitted by law, be appointed and act and be such, subject to the following provisions and
conditions: 
 (i) all rights, powers, duties and obligations conferred upon the Collateral Trustee in respect of the
custody, control and management of moneys, papers or securities shall be exercised solely by the Collateral Trustee or any agent appointed by the Collateral Trustee; 

(ii) all rights, powers, duties and obligations conferred or imposed upon the Collateral Trustee hereunder and under the
relevant Trust Security Document or Documents shall be conferred or imposed and exercised or performed by the Collateral Trustee and such separate trustee or separate trustees or co-trustee or co-trustees, jointly, as shall be provided in the instrument appointing such separate trustee or separate trustees or co-trustee or
co-trustees, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Collateral Trustee shall be incompetent or unqualified to perform such act
or acts, or unless the performance of such act or acts would result in the imposition of any tax on the Collateral Trustee which would not be imposed absent such joint act or acts, in which event such rights, powers, duties and obligations shall be
exercised and performed by such separate trustee or separate trustees or co-trustee or co-trustees; 

(iii) no power given hereby or by the relevant Trust Security Documents to, or which it is provided herein or therein may be
exercised by, any such co-trustee or co-trustees or separate trustee or separate trustees shall be exercised hereunder or thereunder by such co-trustee or co-trustees or separate trustee or separate trustees except jointly with, or with the consent in writing of, the Collateral Trustee, anything contained herein to
the contrary notwithstanding; 
 (iv) no trustee hereunder shall be personally liable by reason of any act or omission of any
other trustee hereunder; and 
 (v) the Company and the Collateral Trustee, at any time by an instrument in writing executed
by them jointly, may accept the resignation of or remove any such separate trustee or co-trustee and, in that case by an instrument in writing executed by them jointly, may appoint a successor to such separate
trustee or co-trustee, as the case may be, anything contained herein to the contrary notwithstanding. If the Company shall not have joined in the execution of any such instrument within 30 days after it
receives a written request from the Collateral Trustee to do so, or if a Notice of Event of Default is in effect, the Collateral Trustee shall have the power to accept the resignation of or remove any such separate trustee or co-trustee and to appoint a successor without the concurrence of the Company, the Company hereby appointing the Collateral Trustee its agent and attorney to act for it in such connection in such contingency. If the
Collateral Trustee shall have appointed a separate trustee or separate trustees or co-trustee or co-trustees as above provided, the Collateral Trustee may at any time,
by an instrument in writing, accept the resignation of or remove any such separate trustee or co-trustee and the successor to any such separate trustee or co-trustee
shall be appointed by the Company and the Collateral Trustee, or by the Collateral Trustee alone pursuant to this subsection 5.10(b). 

  
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 5.11 Treatment of Payee or Indorsee by Collateral Trustee; Representatives of Secured
Parties. The Collateral Trustee may treat the registered holder or, if none, the payee or indorsee of any promissory note or debenture evidencing a Secured Obligation as the absolute owner thereof for all purposes and shall not be affected by
any notice to the contrary, whether such promissory note or debenture shall be past due or not. 
 SECTION 6. 

MISCELLANEOUS 
 6.1
Notices. Unless otherwise specified herein, all notices, requests, demands or other communications given to any of the Grantors, the Collateral Trustee, the Controlling Party and any Holder Representative shall be given in writing (including,
but not limited to, facsimile or electronic transmission) and shall be effective (i) if given by facsimile transmission, when such facsimile is transmitted to the facsimile number specified in this subsection 6.1 and the appropriate facsimile
confirmation is received, (ii) if given by certified registered mail, return receipt requested, with first class postage prepaid, addressed as aforesaid, upon receipt or refusal to accept delivery, (iii) if given by a nationally recognized
overnight carrier, 24 hours after such communication is deposited with such carrier with postage prepaid for next day delivery, (iv) if given by electronic transmission, when transferred by such electronic transmission to the appropriate
electronic address specific in this subsection 6.1 and the electronic transmission is received or (v) if given by any other means, when delivered at the address specified in this subsection 6.1; provided, that any notice, request or demand to
the Collateral Trustee shall not be effective until received by a Responsible Officer of the Collateral Trustee in writing (including by facsimile or electronic transmission) in the corporate trust division at the office designated by it pursuant to
this subsection 6.1. All notices, requests and other communications to any party hereunder shall be given to such party at its address specified on the signature pages hereof or any other address which such party shall have specified as its address
for the purpose of communications hereunder, by notice given in accordance with this subsection 6.1 to the party sending such communication. 

6.2 No Waivers. No failure on the part of the Collateral Trustee, any co-trustee, any separate
trustee, the Controlling Party, any Holder Representative or any Secured Party to exercise, no course of dealing with respect to, and no delay in exercising, any right, power or privilege under this Collateral Trust Agreement or any Trust Security
Document shall operate as a waiver thereof nor shall any single or partial exercise of any such right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

6.3 Amendments, Supplements and Waivers. 

(a) So long as not in violation of any applicable Secured Instrument (as certified by the Company or the applicable Grantor(s) in accordance
with subection 6.3(d)), the Collateral Trustee and the Grantors may with the written consent of the Controlling Party or, in the case of the Junior Priority Security Documents, the Junior Priority Agent (and, if the Controlling Party or, in the case
of the Junior Priority Security Documents, the Junior Priority Agent provides written consent to such amendment (on which the Collateral Trustee shall have no liability for relying), the Collateral Trustee shall, subject to subsection 6.3(d)), from
time to time, enter into (x) written agreements supplemental hereto or to any Trust Security Document for the purpose of adding to, amending, waiving, or otherwise modifying any provisions of this Collateral Trust Agreement or any Trust
Security Document or changing in any manner the rights or priorities of the Collateral Trustee, the Secured Parties or the Grantors hereunder or 

  
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thereunder or (y) additional Trust Security Documents securing First Priority Secured Obligations or Junior Priority Secured Obligations; provided that no such supplemental agreement
shall (i) amend, modify or waive any provision of this subsection 6.3 without the written consent of each Holder Representative, (ii) reduce the percentages or change the numbers specified in or otherwise amend the definitions of Majority
Class Holders, Majority First Priority Secured Parties, Majority Junior Priority Secured Parties, Controlling Party, First Priority Agent or Junior Priority Agent or amend, modify or waive any provision of subsection 3.4 or the definition of
Secured Obligations, First Priority Secured Obligations or Junior Priority Secured Obligations or otherwise change the relative rights or priorities of the Secured Parties under this Collateral Trust Agreement in respect of payments or Collateral
without the written consent of the Controlling Party and the Holder Representative of any series of First Priority Secured Obligations whose rights or priorities could reasonably be expected to be adversely affected thereby, (iii) amend, modify
or waive any provision of subsection 8.1 without the written consent of the Junior Priority Agent if any Junior Priority Debt Obligations are then outstanding, but only if the relative rights or priorities of the Junior Priority Secured Parties in
respect of such Junior Priority Debt Obligations could reasonably be expected to be adversely affected thereby, (iv) amend, modify or waive any provision of this Collateral Trust Agreement in a manner that is materially adverse to the holders
of a particular series of First Priority Secured Obligations relative to the holders of other First Priority Secured Obligations without the consent of the Holder Representative of such series or (v) amend, modify or waive any provision of
Section 4 or 5 or alter the duties, rights, privileges, protections, indemnities, immunities or obligations of the Collateral Trustee hereunder or under the Trust Security Documents without the written consent of the Collateral Trustee. Any
such supplemental agreement shall be binding upon the Grantors, each Holder Representative, the Secured Parties and the Collateral Trustee and their respective successors. In the event that there is an amendment, modification or waiver to the First
Priority Security Documents in accordance with this subsection 6.3, then such amendment, modification or waiver shall apply automatically to any comparable provision of the comparable Junior Priority Security Documents without the consent of
any Junior Priority Secured Parties and without any action by any Holder Representative in respect of Junior Priority Secured Obligations or any other Grantor. 

(b) Notwithstanding anything else to the contrary herein, solely with the consent of the Controlling Party or, in the case of the Junior
Priority Security Documents, the Junior Priority Agent (and without the consent of any other Secured Party), the Collateral Trustee and any of the Grantors, at any time and from time to time, may enter into one or more agreements supplemental hereto
or to any Trust Security Document, in form satisfactory to the Collateral Trustee, which supplemental agreements may add to, amend, waive, or otherwise modify any provisions of such documents, (i) to add to the covenants of such Grantor for the
benefit of the Secured Parties or to surrender any right or power herein conferred upon such Grantor (so long as such addition or surrender applies to all Secured Parties within a Class to the extent applicable); (ii) to mortgage or pledge to
the Collateral Trustee, or grant or perfect a security interest in favor of the Collateral Trustee in, any property or assets, including as additional security, for the Secured Obligations; or (iii) to cure any ambiguity, omission or mistake,
to correct or supplement any provision herein or in any Trust Security Document which may be defective or inconsistent with any other provision herein or therein, to effect administrative changes of a technical or immaterial nature or to make any
other provision with respect to matters or questions arising hereunder which shall not be inconsistent with any provision hereof; provided that no such supplemental agreement shall amend, modify or waive any provision of this Collateral Trust
Agreement in a manner that is materially adverse to the holders of a particular series of Secured Obligations relative to other Secured Parties of the same Class without the consent of the Holder Representative of such series. 

(c) At the direction of the Company and without the consent of any Secured Party, (x) this Collateral Trust Agreement or any Trust
Security Document may be amended to the extent necessary to effect any changes required by subsection 8.5 hereof, or to the extent necessary to secure any Junior Priority Debt otherwise permitted to be incurred hereunder and under the First Priority
Debt Documents 

  
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and (y) the Collateral Trustee shall enter into any Trust Security Documents to secure First Priority Secured Obligations or Junior Priority Secured Obligations to the extent necessary to
effect the provisions of subsection 8.5. The Collateral Trustee is hereby authorized to enter into, and shall (to the extent it has received the documents required by, and subject to, subsection 6.3(d)) enter into, any such amendment to the
Collateral Agreement or Trust Security Document or any such additional Trust Security Document. 
 (d) In executing, or accepting the
additional trusts created by, any amendment, supplement or waiver hereto or to any other Trust Security Document or any new Trust Security Document, permitted by this Collateral Trust Agreement or such other Trust Security Document, the Collateral
Trustee, the Controlling Party and the Junior Priority Agent shall receive and shall be fully protected in conclusively relying upon, an Opinion of Counsel or a certificate of a Responsible Officer of the Company stating that (i) the execution
of such Trust Security Document, amendment, supplement or waiver is authorized or permitted by this Collateral Trust Agreement, such Trust Security Document or the applicable Secured Instruments and (ii) all conditions precedent to the
execution of such amendment, supplement or waiver have been satisfied. The Collateral Trustee shall sign any amendment, supplement or waiver authorized pursuant to this subsection 6.3 if such amendment, supplement or waiver does not adversely affect
the rights, duties, liabilities, protections, privileges, indemnities or immunities of the Collateral Trustee. If it does, the Collateral Trustee may, but shall not be obligated to, sign. The Company shall promptly provide to each Holder
Representative a copy of any amendment to this Collateral Trust Agreement or any Trust Security Document. 
 (e) No amendment, modification
or waiver of this Collateral Trust Agreement or the Trust Security Documents shall be effective against a Holder Representative without its prior written consent (such consent not to be unreasonably withheld or delayed) if such amendment,
modification or waiver would reasonably be expected to have a material adverse effect on the rights or duties of such Holder Representative in its capacity as such. 

6.4 Holders of Secured Non-Loan Exposure. The benefit of the Trust Security Documents and of the
provisions of this Collateral Trust Agreement relating to the Collateral shall extend to and be available in respect of any Secured Obligation arising under any Secured Non-Loan Exposure (collectively, the
“Related Obligations”) solely on the condition and understanding, as among the Collateral Trustee and the Holder Representatives and all Secured Parties, that (i) the Related Obligations shall be entitled to the benefit of the
Trust Security Documents and the Collateral to the extent expressly set forth in this Collateral Trust Agreement and the other Trust Security Documents and to such extent the Collateral Trustee shall hold, and have the right and power to act with
respect to, the Related Obligations and the Collateral on behalf of and as agent for the holders of the Related Obligations, but the Collateral Trustee shall have no fiduciary duty, duty of loyalty, duty of care, duty of disclosure or other
obligation whatsoever to any holder of Related Obligations, (ii) each Secured Party shall be bound by all actions taken or omitted, in accordance with the provisions of this Collateral Trust Agreement and the other Trust Security Documents, by
the Collateral Trustee (at the direction of the relevant Secured Parties or Holder Representatives), which shall be entitled to act in accordance with the terms of this Collateral Trust Agreement without any duty or liability to any other Secured
Party or as to any Related Obligation and without regard to whether any Related Obligation remains outstanding or is deprived of the benefit of the Collateral or becomes unsecured or is otherwise affected or put in jeopardy thereby, and
(iii) no holder of Related Obligations and no other Secured Party (except the Holder Representatives to the extent set forth in this Collateral Trust Agreement) shall have any right to be notified of, or to direct, require or be heard with
respect to, any action taken or omitted in respect of the Collateral or under this Collateral Trust Agreement or the Trust Security Documents. 

  
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 6.5 Headings. The table of contents and the headings of Sections and subsections have
been included herein and in the Trust Security Documents for convenience only and should not be considered in interpreting this Collateral Trust Agreement or the Trust Security Documents. 

6.6 Severability. Any provision of this Collateral Trust Agreement which is prohibited or unenforceable in any jurisdiction shall not
invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

6.7 Successors and Assigns. This Collateral Trust Agreement shall be binding upon and inure to the benefit of each of the parties hereto
and their respective successors and assigns and shall inure to the benefit of each of the Secured Parties and their respective successors and assigns, and nothing herein is intended or shall be construed to give any other Person any right, remedy or
claim under, to or in respect of this Collateral Trust Agreement or any Collateral. 
 6.8 Currency Conversions. In calculating the
amount of Secured Obligations or Collateral proceeds for any purpose hereunder, including, without limitation, voting or distribution purposes, the amount of any Secured Obligation which is denominated in a currency other than Dollars shall be
converted by the Collateral Trustee into Dollars using its own internal conversion rates on the Business Day on which such calculation is made. In no event shall the Collateral Trustee be liable to any party for the conversion rate so obtained. All
funds to be deposited into the Collateral Account shall be in U.S. Dollars. 
 6.9 Acknowledgements. Each Grantor hereby acknowledges
that: 
 (a) it has been advised by counsel in the negotiation, execution and delivery of this Collateral Trust Agreement and
the other First Priority Debt Documents and Junior Priority Debt Documents to which it is a party; 
 (b) neither the
Collateral Trustee nor any Secured Party has any fiduciary relationship with or duty to any Grantor arising out of or in connection with this Collateral Trust Agreement or any of the other First Priority Debt Documents and the Junior Priority Debt
Documents; and 
 (c) no joint venture is created hereby or by the other First Priority Debt Documents or Junior Priority
Debt Documents otherwise exists by virtue of the transactions contemplated hereby among the Secured Parties or among the Grantors and the Secured Parties. 

6.10 Governing Law. This Collateral Trust Agreement shall be governed by, and construed and interpreted in accordance with, the law of
the State of New York. 
 6.11 Counterparts. This Collateral Trust Agreement may be signed in any number of counterparts with the same
effect as if the signatures thereto and hereto were upon the same instrument. Delivery of an executed signature page of this Collateral Trust Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually
executed counterpart thereof. 

  
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 6.12 Termination and Release. 

(a) Upon receipt by the Collateral Trustee (x) from the Controlling Party of written directions to cause the Liens created by subsections
3.2 and 4.6 and by the Trust Security Documents to be released and discharged, provided that the Company shall have delivered a certificate of a Responsible Officer of the Company to the Collateral Trustee certifying that (i) such
release of the Collateral is permitted under, and does not violate the terms of, the First Priority Debt Documents and the Junior Priority Debt Documents and (ii) all conditions precedent to such release of the Collateral have been (or,
substantially contemporaneously with such action, shall be) satisfied or (y) of written notices from each Holder Representative stating that the conditions for release in connection with the termination of the applicable First Priority Debt
Documents or the applicable Junior Priority Debt Documents, as the case may be, have been satisfied, the security interests created by subsection 4.6 and by the Trust Security Documents shall terminate forthwith and all right, title and interest of
the Collateral Trustee in and to the Collateral shall revert to the Grantors, their successors and assigns. 
 (b) Upon the termination of
the Collateral Trustee’s security interest and the release of the Collateral in accordance with subsection 6.12(a), the Collateral Trustee will promptly, at the Company’s written request and expense, (i) execute and deliver to the
Company such documents as the Company shall reasonably request to evidence the termination of such security interest or the release of the Collateral and (ii) deliver or cause to be delivered to the Grantors all property of the Grantors then
held by the Collateral Trustee or any agent thereof; provided that the Company shall have delivered a certificate of a Responsible Officer of the Company to the Collateral Trustee certifying that the conditions described in subsection 6.12(a)
have been met and that such release of the Collateral is permitted under, and does not violate the terms of, the First Priority Debt Documents and Junior Priority Debt Documents. 

(c) Upon the sale or other disposition of all the Capital Stock of a Grantor (other than the Company) to any Person (other than another
Grantor) in a transaction permitted (or not prohibited, as the case may be) by the First Priority Debt Documents and the Junior Priority Debt Documents or upon such Grantor ceasing to be a guarantor as permitted (or not prohibited, as the case may
be) by each such document: (i) such Grantor and each Subsidiary of such Grantor which is included in such sale or other disposition or which so ceases to be a guarantor (such Grantor and each such Subsidiary being referred to herein as
“Included Grantors”) shall cease to be a Grantor hereunder or a party to any Trust Security Document and shall be released automatically from its obligations pursuant hereto and thereto, (ii) the security interests created by
the Trust Security Documents entered into by such Included Grantors in all right, title and interest of such Included Grantors in the Collateral, and the security interests created by the Trust Security Documents in the Capital Stock of such
Grantor, shall terminate automatically, in each case only with respect to such Included Grantors and such Capital Stock, (iii) all right, title and interest of the Collateral Trustee in and to the Collateral of such Included Grantors subject to
such security interests shall revert automatically to such Included Grantors, their successors and assigns and (iv) any obligations of such Included Grantors shall, unless otherwise expressly notified by the Company to the Collateral Trustee
and the Controlling Party in writing, automatically cease to be Secured Obligations. Upon any such termination and receipt by a Responsible Officer of the Collateral Trustee of a certificate from the Company or the relevant Grantor, and acknowledged
in writing by the Controlling Party, stating that such sale or other disposition is to a Person other than another Grantor in a transaction permitted or not prohibited, as the case may be, by the First Priority Debt Documents and the Junior Priority
Debt Documents and that the release of the Collateral is permitted under, and does not violate the terms of, the First Priority Debt Documents and Junior Priority Debt Documents, the Collateral Trustee will promptly, at the Company’s request
and expense, (x) execute and deliver to such Included Grantors (and the Grantor that pledged such Capital Stock under the Trust Security Documents) such documents as the Company shall reasonably request to evidence the termination of such
security interest or the release of such Collateral, in each case, without representation, warranty or recourse, (y) deliver or cause to be delivered to such Included Grantors all property of such Included Grantors then held by the Collateral
Trustee or any agent thereof and (z) deliver such Capital Stock to the Grantor that pledged such Capital Stock under the Trust Security Documents. 

  
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 (d) Upon the sale or other disposition of all or any portion of the Collateral to any Person
(other than another Grantor) in a transaction permitted (or not prohibited, as the case may be) by the First Priority Debt Documents and the Junior Priority Debt Documents (including pursuant to any consent to such sale and/or release of the
security interest in such Collateral pursuant to the terms thereof), the security interests created by the Trust Security Documents in such Collateral shall terminate and such Collateral shall be automatically released from the Lien created by the
Trust Security Documents. Upon any such release and receipt by the Collateral Trustee of a certificate from the Company or the relevant Grantor stating that such sale or other disposition is permitted or not prohibited, as the case may be, by (or
the relevant consent has been received under) the First Priority Debt Documents and the Junior Priority Debt Documents and that the release of the Collateral is permitted under, and does not violate the terms of, the First Priority Debt Documents
and Junior Priority Debt Documents, the Collateral Trustee will promptly at the Company’s request and expense execute and deliver such documents as the Company shall reasonably request to evidence the termination of such security interest and
the release of such Collateral. 
 (e) Without limiting subsections (c) and (d) above, upon receipt by the Collateral Trustee of
(i) written notice from the Controlling Party directing the Collateral Trustee to cause the Liens on a portion of the Collateral identified in such notice to be released and discharged and (ii) a certificate of the Company confirming that
the Collateral identified in such notice in clause (i) above does not constitute all or substantially all of the Collateral and is permitted to be released under the First Priority Debt Documents and Junior Priority Debt Documents, the security
interests created by the Trust Security Documents in such Collateral shall terminate forthwith and all right, title and interest of the Collateral Trustee in and to such Collateral shall revert to the Grantors, their successors and assigns. 

(f) Notwithstanding any of the foregoing, if the Collateral Trustee is exercising its rights or remedies with respect to the Collateral under
the Trust Security Documents in accordance with this Collateral Trust Agreement, and the Collateral Trustee releases any of the Liens securing any Secured Obligations on any part of the Collateral, then all the Liens securing the Secured Obligations
on such Collateral shall be automatically, unconditionally and simultaneously released (and the Collateral Trustee shall take any actions reasonably requested by the Company to evidence the release of such Liens). 

(g) This Collateral Trust Agreement shall terminate when the security interest granted under the Trust Security Documents has terminated and
the Collateral has been released as provided in subsection 6.12(a); provided that all Trustee’s Fees (other than any indemnification obligation for which no claim or demand for payment has been made) shall have been paid in full. 

6.13 New Grantors. During the term of this Collateral Trust Agreement, one or more additional Subsidiaries may, subject to any
“know your customer” requirements of the Collateral Trustee, become a party to this Collateral Trust Agreement by executing a joinder agreement, substantially in the form of Exhibit C, whereupon such Subsidiary shall become a Grantor for
all purposes and to the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Collateral Trust Agreement. 

6.14 Inspection by Regulatory Agencies. The Collateral Trustee shall make available, and shall cause each custodian and agent acting on
its behalf in connection with this Collateral Trust Agreement to make available, all Collateral in such Person’s possession at all times for inspection by any regulatory agency having jurisdiction over any Grantor to the extent required by such
regulatory agency in its discretion. 

  
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 6.15 Confidentiality. The Collateral Trustee agrees to keep confidential all non-public information (a) provided to it by or on behalf of the Company or any of its Subsidiaries pursuant to or in connection with this Collateral Trust Agreement or any Trust Security Document or
(b) obtained by the Collateral Trustee based on a review of the books and records of the Company or any of its Subsidiaries; provided that nothing herein shall prevent the Collateral Trustee from disclosing any such information
(i) to any Holder Representative or as may otherwise be required pursuant to this Collateral Trust Agreement or any Trust Security Document, (ii) to its affiliates and its employees, legal counsel, independent or internal auditors,
professionals and other experts or agents (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information confidential), (iii) to the
extent requested or demanded by any regulatory authority, self regulatory or supervisory authority having proper jurisdiction or claiming jurisdiction over it or its affiliates (provided, that the Collateral Trustee shall notify the Company as soon
as practicable in the event of any such disclosure by such Person (except with respect to any audit or examination conducted by bank accountants or any governmental bank regulatory authority exercising routine examination and regulatory authority)
to the extent practicable and not prohibited by applicable law, rule or regulation, (iv) pursuant to the order of any court or administrative agency or in any pending legal, judicial or administrative proceeding, or otherwise as required by
applicable law or compulsory legal process based on the advice of counsel (provided that the Collateral Trustee shall notify the Company promptly thereof prior to any such disclosure by such Person (except with respect to any audit or
examination conducted by bank accountants or any governmental bank regulatory authority exercising routine examination and regulatory authority) to the extent practicable and not prohibited by applicable law, rule or regulation), (v) as reasonably
determined to be necessary, in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, or (vi) to the extent such information (A) becomes
available other than as a result of a breach of this subsection 6.15 actually known to the Collateral Trustee on a nonconfidential basis from a source other than the Borrower or any of its Affiliates or (B) to the extent that such information
becomes publicly available other than by reason of improper disclosure by the Collateral Trustee or any related parties thereto in violation of any confidentiality obligations owing to Parent, the Borrower or any of their respective affiliates. 

6.16 Submission to Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Collateral Trust Agreement and the
other Trust Security Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the non-exclusive general jurisdiction of the Courts of the County of New York,
State of New York, the courts of the United States of America for the Southern District of New York in the County of New York, and appellate courts from any thereof; 

(b) to the extent permitted by applicable law, consents that any such action or proceeding may be brought in such courts and
waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; and 

(c) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or
proceeding referred to in this subsection 6.16 any special, exemplary, punitive or consequential damages. 
 6.17 WAIVERS OF JURY
TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS COLLATERAL TRUST AGREEMENT OR ANY OTHER TRUST SECURITY DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 

  
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 6.18 Conflicts. In the event of any conflict between the provisions of this
Collateral Trust Agreement and the provisions of any First Priority Debt Document, any Junior Priority Debt Document or any other Secured Instrument, the provisions of this Collateral Trust Agreement shall govern. 

6.19 Consequential Damages. In no event shall the Collateral Trustee be responsible or liable for special, indirect, punitive or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Collateral Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

6.20 Force Majeure. In no event shall the Collateral Trustee be responsible or liable or held in breach of this Collateral Trust
Agreement, if prevented, hindered, or delayed in the performance or observance of any provision contained herein by reason of directly or indirectly, forces beyond its control, including, without limitation, riots, epidemics, governmental action or
judicial order, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities (including mechanical, electronic or
communication interruptions, disruptions or failures, including any unavailability of the Federal Reserve Bank wire), computer (software and hardware) services. The time required of the Collateral Trustee to perform under this Collateral Trust
Agreement shall be extended for a period of time equivalent to the time lost because of any delay that persists; provided that the Collateral Trustee is using commercially reasonable efforts to perform. 

6.21 USA PATRIOT Act. In order to comply with the laws, rules, regulations and executive orders in effect from time to time applicable
to banking institutions, including, without limitation, those relating to the funding of terrorist activities and money laundering, including Section 326 of the USA PATRIOT Act of the United States (“Applicable AML Law”), the
Collateral Trustee is required to obtain, verify, record and update certain information relating to individuals and entities which maintain a business relationship with the Collateral Trustee. Accordingly, each of the parties agree to provide to the
Collateral Trustee, upon its request from time to time, such identifying information and documentation as may be available for such party in order to enable the Collateral Trustee to comply with Applicable AML Law. 

6.22 Incorporation by Reference. In connection with its execution and acting hereunder, each Holder Representative for the First
Priority Debt Documents and Junior Priority Debt Documents, as applicable, is entitled to all rights, privileges, protections, immunities, benefits and indemnities provided by the applicable Grantors to it as agent, trustee or other designee under
its applicable Secured Instruments. 
 SECTION 7. 

DESIGNATION OF ADDITIONAL SECURED OBLIGATIONS 

7.1 Designations of Secured Obligations. The Company may at any time and from time to time, by delivery of a notice of designation
substantially in the form of Exhibit D (each, a “Notice of Designation”), designate additional obligations (whether outstanding on the date of such designation or on a prospective “when issued basis”) as “First
Priority Notes”, “First Priority Additional Sale/Leaseback Obligations”, “First Priority Additional Debt” or “Junior Priority Debt”, or “Designated Cash Management Obligations”, “Designated Hedging
Obligations” , “Designated L/C Facility Obligations” or other “Secured Non-Loan Exposure” or any other relevant category defined hereunder, under this Collateral Trust Agreement,
identifying the relevant “First Priority Additional Debt Representative” or “Junior Priority Debt Representative”, or “First Priority Secured Party” or “Junior Priority Secured Party” or any other relevant
representative defined hereunder, as the case may be, which is secured by the 

  
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Collateral pursuant to this Collateral Trust Agreement and the Trust Security Documents (which may be existing Trust Security Documents or new Trust Security Documents) in accordance with this
Section 7 (it being understood that if such notice is prospective such designation is contingent upon the issuance or incurrence of the related obligations in compliance with the First Priority Debt Documents and Junior Priority Debt
Documents). Such Designation shall become effective when the new First Priority Additional Debt Representative, Junior Priority Secured Party or other relevant representative accedes to this Collateral Trust Agreement by countersigning the Notice of
Designation and satisfying the Collateral Trustee’s “know your customer” requirements. The Notice of Designation shall (i) identify the obligation it is designating and whether such additional obligations will be “First
Priority Notes”, “First Priority Additional Sale/Leaseback Obligations”, “First Priority Additional Debt” or “Junior Priority Debt”, or “Designated Cash Management Obligations”, “Designated Hedging
Obligations”, “Designated L/C Facility Obligations”, “Secured Non-Loan Exposure” or any other relevant category defined under this Collateral Trust Agreement, identifying the relevant
“First Priority Additional Debt Representative” or “Junior Priority Debt Representative”, or “First Priority Secured Party” or “Junior Priority Secured Party”, (ii) in the case of any designation of Secured Non-Loan Exposure, note whether all or a portion of such Secured Non-Loan Exposure will be classified as Permitted First Priority
Non-Loan Exposure or as Permitted Junior Priority Non-Loan Exposure and (iii) include a certification that the designation thereof is permitted, or not prohibited,
as the case may be, by the First Priority Debt Documents and the Junior Priority Debt Documents. The Company shall furnish each Notice of Designation to the Collateral Trustee and each Holder Representative promptly after delivering the same to the
Collateral Trustee. If each Holder Representative receives such notice and none of the parties notifies the Company and the Collateral Trustee within three (3) Business Days following the receipt thereof that it disagrees with the certification
described in clause (iii) above, then the designation of such additional obligations as Secured Obligations shall be binding among the other holders of Secured Obligations for purposes of this Collateral Trust Agreement (it being agreed that no
Holder Representative shall have the right to object to (x) any Designated L/C Facility designated on the Closing Date or (y) any First Priority Notes that are issued in any offering in connection with the refinancing of the First Priority
Bridge Loan Agreement and, in each case, the designation of such additional obligations as Secured Obligations shall be effective immediately upon delivery of such Notice of Designation); provided, however that nothing in this sentence
shall constitute a waiver of any right or remedy of any Holder Representative or other holder of First Priority Secured Obligations or Junior Priority Secured Obligations may have under any Secured Instrument with respect to the incurrence or
designation of such obligations. 
 7.2 Termination of Designation. Any Secured Obligations hereunder, including Secured
Obligations on the Effective Date and Secured Obligations designated as secured pursuant to this Section 7, shall remain secured pursuant to this Collateral Trust Agreement until the first to occur of (i) the termination of this Collateral
Trust Agreement in accordance with subsection 6.12, (ii) the payment and performance in full of such Secured Obligations, (iii) the delivery to the Collateral Trustee of the written consent of the relevant Secured Party to the release of the
security interest in the Collateral securing such Secured Obligations and (iv) solely in the case of the First Priority Note Obligations, at any time on or after an Investment Grade Event Election to the extent set forth under the applicable
Secured Instrument. 

  
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 SECTION 8. 

INTERCREDITOR PROVISIONS 
 8.1
Junior Priority Debt. The Junior Priority Agent for, and each Junior Priority Secured Party with respect to, the Junior Priority Secured Obligations shall be bound by the following terms and conditions: 

(a) Any and all Liens now existing or hereafter created or arising in favor of any such Junior Priority Secured Party securing
or purporting to secure the Junior Priority Secured Obligations, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, are expressly junior in priority, operation and effect to any and all Liens now
existing or hereafter created or arising in favor of the First Priority Secured Parties securing or purporting to secure the First Priority Secured Obligations, notwithstanding (i) anything to the contrary contained in any agreement or filing
to which any such Junior Priority Secured Party may now or hereafter be a party, and regardless of the time, order or method of grant, attachment, recording or perfection of any financing statements or other security interests, assignments, pledges,
deeds, mortgages and other liens, charges or encumbrances or any defect or deficiency or alleged defect or deficiency in any of the foregoing, (ii) any provision of the Uniform Commercial Code or any applicable law or any agreement with respect
to the First Priority Secured Obligations or the Junior Priority Secured Obligations or any other circumstance whatsoever and (iii) the fact that any such Liens in favor of any First Priority Secured Party securing or purporting to secure any
of the First Priority Secured Obligations are (x) subordinated to any Lien securing any obligation of any Grantor other than the Junior Priority Secured Obligations or (y) otherwise subordinated, voided, avoided, invalidated or lapsed;

 (b) No such Junior Priority Secured Party shall object to or contest, or support any other Person in contesting or
objecting to, in any proceeding (including without limitation, any Insolvency Proceeding), the validity, extent, perfection, priority or enforceability of any security interest in the Collateral granted to, or the allowability of any claims asserted
by, any First Priority Secured Party. Notwithstanding any failure by any First Priority Secured Party to perfect its security interests in the Collateral or any avoidance, invalidation or subordination by any third party or court of competent
jurisdiction of the security interests in the Collateral granted to the First Priority Secured Parties, the priority and rights as between the First Priority Secured Parties and the Junior Priority Secured Parties with respect to the Collateral
shall be as set forth herein; 
 (c) No such Junior Priority Secured Party shall, prior to the payment and performance in
full of the First Priority Secured Obligations, assert, demand, request, plead or otherwise claim the benefit of, any marshalling, appraisal, valuation and any other right that may otherwise be available under any applicable requirement of law with
respect to any Collateral to a creditor in its capacity as beneficiary of a junior lien on such Collateral; 
 (d) No such
Junior Priority Secured Party shall, in or in connection with any Insolvency Proceeding, file any pleadings or motions, take any position at any hearing or proceeding of any nature, or otherwise take any action whatsoever, in each case in respect of
any of the Collateral, including, without limitation, with respect to the determination of any Liens or claims held by any First Priority Secured Party or the value of any claims of such parties under Section 506(a) of the Bankruptcy Code or
otherwise; provided that any such Junior Priority Secured Party may file a proof of claim in an Insolvency Proceeding, subject to the limitations contained in this Collateral Trust Agreement and only if consistent with the terms and the
limitations on such Junior Priority Secured Party imposed hereby; 
 (e) If any Grantor becomes the subject of any Insolvency
Proceeding, and if the First Priority Agent desires to consent (or not object) to the use of cash collateral under the Bankruptcy Code or to provide any DIP Financing to any Grantor or to consent (or not object) to the provision of any DIP Financing
to any Grantor, whether or not proceeds of any such DIP Financing are being used to Refinance all or any portion of the First Priority Secured Obligations, then each such Junior Priority Secured Party (a) will be deemed to have consented to,
and will raise no objection to, nor support any other Person objecting to, the use of such cash collateral or 

  
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such DIP Financing, (b) will not request or accept adequate protection or any other relief in connection with the use of such cash collateral or such DIP Financing except as set forth in
subsection 8.1(g) below and (c) will subordinate (and will be deemed hereunder to have subordinated) its Junior Priority Secured Obligations (i) to such DIP Financing on the same terms as the First Priority Secured Obligations are
subordinated thereto (and such subordination will not alter in any manner the terms of this Collateral Trust Agreement) or, to the extent the proceeds of such DIP Financing refinance all or any portion of the First Priority Secured Obligations, on
the same terms as the Junior Priority Secured Obligations are subordinated to the First Priority Secured Obligations pursuant to this Collateral Trust Agreement, (ii) to any adequate protection provided to the First Priority Secured Parties and
(iii) to any “carve-out” agreed to by the First Priority Agent, and (d) agrees that notice received two calendar days prior to the entry of an order approving such usage of cash collateral
or approving such financing shall be adequate notice; 
 (f) No such Junior Priority Secured Party will seek relief from the
automatic stay or from any other stay in any Insolvency Proceeding or take any action in derogation thereof, in each case in respect of any Collateral, without the prior written consent of the Majority First Priority Secured Parties (to the extent
there are any First Priority Secured Parties); 
 (g) No such Junior Priority Secured Party shall object to, contest, or
support any other Person objecting to or contesting, (i) any request by any First Priority Secured Party for adequate protection or any adequate protection provided to any First Priority Secured Party or (ii) any objection by any First
Priority Secured Party to any motion, relief, action or proceeding based on a claim of a lack of adequate protection or (iii) the allowance and/or payment of interest, fees, expenses or other amounts to any First Priority Secured Party under
Section 506(b) or 506(c) of the Bankruptcy Code or otherwise. Notwithstanding anything contained in this subsection 8.1 (but subject to all other provisions of this Collateral Trust Agreement), in any Insolvency Proceeding, (x) if the
First Priority Secured Parties (or any subset thereof) are granted adequate protection consisting of a Lien on additional or replacement collateral and/or superpriority claims in connection with any DIP Financing or use of cash collateral, and such
First Priority Secured Parties do not object to the adequate protection being provided to them, then in connection with any such DIP Financing or use of cash collateral such Junior Priority Secured Parties may seek or accept adequate protection
consisting solely of a Lien on the same additional or replacement collateral, subordinated to the Liens securing and providing adequate protection for the First Priority Secured Obligations and such DIP Financing on the same basis as the other Liens
securing the Junior Priority Secured Obligations are so subordinated to the First Priority Secured Obligations under this Collateral Trust Agreement and superpriority claims junior in all respects to the superpriority claims granted to the First
Priority Secured Parties and (y) in the event any such Junior Priority Secured Party seeks or accepts adequate protection in accordance with clause (x) above and such adequate protection is granted in the form of a Lien on additional
collateral, then such Junior Priority Secured Party agrees that the First Priority Secured Parties shall also be granted a senior Lien on such additional collateral as security and adequate protection for the First Priority Secured Obligations and
any such DIP Financing and that any Lien on such additional collateral securing or providing adequate protection for the Junior Priority Secured Obligations shall be subordinated to the Liens on such collateral securing the First Priority Secured
Obligations and any such DIP Financing (and all Obligations relating thereto) and any other Liens granted to the First Priority Secured Parties as adequate protection, with such subordination to be on the same terms that the other Liens securing the
Junior Priority Secured Obligations are subordinated to the Liens securing such First Priority Secured Obligations under this Collateral Trust Agreement. The Junior Priority Secured Parties agree that except as expressly set forth in this subsection
8.1 none of them shall seek or accept adequate protection without the prior written consent of the Majority First Priority Secured Parties (to the extent there are any First Priority Secured Parties); 

  
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 (h) If any First Priority Secured Party is required in any Insolvency
Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of any Grantor, because such amount was avoided or ordered to be paid or disgorged for any reason, including without limitation because it was found to be a fraudulent or
preferential transfer, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of set-off or otherwise, then the First Priority Secured Obligations shall
be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the payment and performance in full of the First Priority Secured Obligations shall be deemed not to have occurred. If this Collateral
Trust Agreement shall have been terminated prior to such Recovery, this Collateral Trust Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the
obligations of the parties hereto. The Junior Priority Secured Parties agree that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this
Collateral Trust Agreement, whether by preference, fraudulent transfer or otherwise, it being understood and agreed that the benefits of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in
accordance with the priorities set forth in this Collateral Trust Agreement; 
 (i) No such Junior Priority Secured Party
shall, in an Insolvency Proceeding or otherwise, oppose any sale or disposition of any assets of any Grantor that is supported by the First Priority Agent, and each such Junior Priority Secured Party will be deemed to have consented under
Section 363 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law (and otherwise) to any sale supported by the First Priority Agent and to have released its Liens on such assets; provided that the net cash proceeds
of such sale shall have been applied to the Secured Obligations in accordance with subsection 3.4 or the parties’ respective Liens shall have been attached to such net cash proceeds in accordance with the Lien priorities set forth in this
Collateral Trust Agreement; 
 (j) Each such Junior Priority Secured Party acknowledges and agrees that because of, among
other things, their differing rights in the Collateral, the Junior Priority Secured Obligations are fundamentally different from the First Priority Secured Obligations and must be separately classified in any plan of reorganization or similar
dispositive restructuring plan proposed, confirmed or adopted in an Insolvency Proceeding. To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that the claims of the First Priority Secured
Parties and the Junior Priority Secured Parties in respect of the Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then the Junior Priority Secured Parties hereby acknowledge and agree
that all distributions shall be made as if there were separate classes of senior and junior secured claims against the Grantors in respect of the Collateral (with the effect being that, to the extent that the aggregate value of the Collateral is
sufficient (for this purpose ignoring all claims held by the Junior Priority Secured Parties), the First Priority Secured Parties shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of Post-Petition Interest before any distribution is made in respect of the claims held by the Junior Priority Secured Parties, with the Junior
Priority Secured Parties hereby acknowledging and agreeing to turn over to the First Priority Secured Parties amounts otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover
has the effect of reducing the claim or recovery of the Junior Priority Secured Parties; 

  
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 (k) No Junior Priority Secured Party (whether in the capacity of a secured
creditor or an unsecured creditor) shall propose, vote in favor of, or otherwise directly or indirectly support any plan of reorganization or similar dispositive restructuring plan that violates or is otherwise inconsistent with the priorities set
forth in Section 3.4 or the other provisions of this Collateral Trust Agreement. To the extent that a Junior Priority Secured Party has not voted its claim with respect to the Junior Priority Secured Obligations in any Insolvency Proceeding on
any proposed plan of reorganization or similar dispositive restructuring plan prior to the date which is 10 days before the expiration of the time to vote such claim, the Collateral Trustee may vote such claim on behalf of such Junior Priority
Secured Party at the direction of the Controlling Party; 
 (l) No such Junior Priority Secured Party shall oppose or seek to
challenge any claim by any First Priority Secured Party for allowance in any Insolvency Proceeding of Post-Petition Interest, fees or expenses in respect of any First Priority Secured Obligation. No First Priority Secured Party shall oppose or seek
to challenge any claim by any Junior Priority Secured Party for the accrual (but not payment) in any Insolvency Proceeding of Post-Petition Interest (after taking into account the First Priority Secured Obligations); 

(m) No such Junior Priority Secured Party shall (i) object to any motion by any First Priority Secured Party seeking
relief from the automatic stay as provided in Section 362 of the Bankruptcy Code or any similar provision of any applicable Bankruptcy Law or any other stay in respect of the Collateral, (ii) object to, oppose, support any objection, or
take any other action to impede, the right of any First Priority Secured Party to make an election under Section 1111(b)(2) of the Bankruptcy Code or any similar provision of any applicable Bankruptcy Law, or (iii) assert or enforce any
claim under Section 506(c) of the Bankruptcy Code or any similar provision of any applicable Bankruptcy Law senior to or on a parity with the Liens securing the First Priority Secured Obligations for costs or expenses of preserving or disposing
of any Collateral; 
 (n) Nothing contained herein shall prohibit or in any way limit any First Priority Secured Party from
objecting in any Insolvency Proceeding or otherwise to any action taken by any Junior Priority Secured Party, including the seeking by any Junior Priority Secured Party of adequate protection (except as provided in subsection 8.1(g)) or the
asserting by any Junior Priority Secured Party of any of its rights and remedies under any Junior Priority Debt Document in respect of Junior Priority Secured Obligations, the Trust Security Documents or otherwise; 

(o) This Collateral Trust Agreement is a “subordination agreement” under section 510(a) of the Bankruptcy Code or any
similar provision of any applicable Bankruptcy Law and shall be effective before, during and after the commencement of an Insolvency Proceeding; 

(p) So long as the First Priority Secured Obligations and commitments in respect thereof have not been paid or terminated in
full, as applicable, whether or not any Insolvency Proceeding has been commenced by or against the Company or any Grantor, any Collateral or proceeds thereof received by any Junior Priority Agent or any Junior Priority Secured Party in connection
with the exercise of any right or remedy (including set-off) relating to the Collateral, or pursuant to subsection 3.4 hereof, shall be segregated and held in trust and forthwith paid over to the First
Priority Agent for the benefit of the First Priority Secured Parties in the same form as received; 
 (q) If, prior to the
payment and performance in full of the First Priority Secured Obligations, any such Junior Priority Secured Party receives any Post-Petition Securities on account of any Junior Priority Secured Obligations in any Insolvency Proceeding and such
Post-Petition Securities are secured by any Lien upon any property of any reorganized debtor which is 

  
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also subject to Liens securing Post-Petition Securities received on account of any First Priority Secured Obligations in such Insolvency Proceedings, such Liens shall be junior and subordinate to
the Liens securing Post-Petition Securities received on account of the First Priority Secured Obligations to the same extent as all other Liens securing Junior Priority Secured Obligations hereunder and shall be subject to the terms of this
Collateral Trust Agreement; 
 (r) Each Grantor and each Junior Priority Secured Party agrees that it shall not at any time
execute or deliver any amendment or other modification to any of the Junior Priority Debt Documents that would (i) contravene the provisions of this Collateral Trust Agreement or (ii) result in the terms thereof, taken as a whole, being
more restrictive to the Company than those contained in the First Priority Credit Agreement Documents. Each Junior Priority Secured Party agrees as to its respective Junior Priority Secured Documents that each Junior Priority Secured Document shall
include the following language (or language to similar effect reasonably approved by the Collateral Trustee or the Controlling Party): 

“Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to the [Collateral Trustee] pursuant
to this Agreement are expressly subject and subordinate to the liens and security interests granted in favor of the Collateral Trustee for the benefit of the First Priority Secured Parties (as defined in the Intercreditor Agreement referred to
below) and (ii) the exercise of any right or remedy by the [Collateral Trustee] hereunder is subject to the limitations and provisions of the Collateral Trustee and Intercreditor Agreement dated as of April 1, 2020 (as amended, restated,
supplemented or otherwise modified from time to time, the “Intercreditor Agreement”) among Deutsche Bank Trust Company Americas, as collateral trustee, T-Mobile USA, Inc., T-Mobile US, Inc., and certain of its subsidiaries, Deutsche Bank AG New York Branch, as First Priority Agent and the other Holder Representatives party thereto. In the event of any conflict between the terms of the
Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall govern.” 
 (s)
Each such Junior Priority Secured Party agrees that any First Priority Debt Document may be amended at any time without the consent of any Junior Priority Secured Party, provided that this Collateral Trust Agreement and the Trust Security
Documents may only be amended in accordance with the terms of this Collateral Trust Agreement; 
 (t) Each such Junior
Priority Secured Party agrees that it will not enter into, or accept the benefit of, any security agreement or mortgage to secure the Junior Priority Secured Obligations and will not file any financing statements with respect to its Junior Priority
Secured Obligations, it being understood that this Collateral Trust Agreement and the Trust Security Documents (together with the filings contemplated thereby) are the only such security documents permitted to secure the Junior Priority Secured
Obligations; and 
 (u) Until the First Priority Secured Obligations have been paid and performed in full, any Collateral,
including without limitation any such Collateral constituting Proceeds, that may be received by any Junior Priority Secured Party in violation of this Collateral Trust Agreement shall be segregated and held in trust and promptly paid over to the
Collateral Trustee, for the benefit of the First Priority Secured Parties, in the same form as received, with any necessary endorsements, and each Junior Priority Secured Party hereby authorizes the Collateral Trustee to make any such endorsements
as agent for the Junior Priority Agent (which authorization, being coupled with an interest, is irrevocable). 

  
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 (v) Until the First Priority Secured Obligations have been paid and
performed in full, (a) none of the Grantors shall grant or permit any additional Liens on any asset or property of any Grantor to secure any Junior Priority Secured Obligation unless it has granted, or concurrently therewith grants, a Lien on
such asset or property of such Grantor to secure the First Priority Secured Obligations; and (b) if the Collateral Trustee or any Junior Priority Secured Party shall hold any Lien on any assets or property of any Grantor securing any Junior
Priority Secured Obligations that are not also subject to the first-priority Liens securing all First Priority Secured Obligations under the First Priority Debt Documents, the Collateral Trustee or such Junior Priority Secured Party (i) shall
notify the Collateral Trustee and the First Priority Agent promptly upon becoming aware thereof and, unless such Grantor shall promptly grant a similar Lien on such assets or property to the Collateral Trustee as security for the First Priority
Secured Obligations, shall assign such Lien to the Collateral Trustee as security for all First Priority Secured Obligations for the benefit of the First Priority Secured Parties (but may retain a junior lien on such assets or property subject to
the terms hereof) and (ii) until such assignment or such grant of a similar Lien to the Collateral Trustee for the benefit of the First Priority Secured Parties, shall be deemed to hold and have held such Lien for the benefit of the Collateral
Trustee and the other First Priority Secured Parties as security for the First Priority Secured Obligations. To the extent that the foregoing provisions are not complied with for any reason, without limiting any other rights and remedies available
to the Collateral Trustee, First Priority Agent and/or the First Priority Secured Parties, the Collateral Trustee and each Junior Priority Debt Representative agrees that any amounts received by or distributed to any of them pursuant to or as a
result of Liens granted in contravention of this subsection 8.1(v) shall be subject to subsection 3.4(b). 
 (w) Except as
otherwise agreed by the Junior Priority Secured Parties in a separate agreement, it is the intention of the Junior Priority Secured Parties of each series of Junior Priority Secured Obligations that the holders of such series of Junior Priority
Secured Obligations (and not the Junior Priority Secured Parties of any other series of Junior Priority Secured Obligations) bear the risk of (i) any determination by a court of competent jurisdiction that (x) any of the Junior Priority
Secured Obligations of such series are unenforceable under applicable Law or are subordinated to any other obligations (other than another series of Junior Priority Secured Obligations), (y) any of the Junior Priority Secured Obligations of such
series do not have an enforceable security interest in any of the Collateral securing any other series of Junior Priority Secured Obligations and/or (z) any intervening security interest exists securing any other obligations (other than another
series of Junior Priority Secured Obligations) on a basis ranking prior to the security interest of such series of Junior Priority Secured Obligations but junior to the security interest of any other series of Junior Priority Secured Obligations or
(ii) the existence of any collateral for any other series of Junior Priority Secured Obligations that is not Collateral (any such condition referred to in the foregoing clause (i) or (ii) with respect to any series of Junior Priority
Secured Obligations, a “Junior Impairment” of such series). In the event of any Junior Impairment with respect to any series of Junior Priority Secured Obligations, the results of such Junior Impairment shall be borne solely by the holders
of such series of Junior Priority Secured Obligations, and the rights of the holders of such series of Junior Priority Secured Obligations (including, without limitation, the right to receive distributions in respect of such series of Junior
Priority Secured Obligations pursuant to subsection 3.4) set forth herein shall be modified to the extent necessary so that the effects of such Junior Impairment are borne solely by the holders of the series of such Junior Priority Secured
Obligations subject to such Junior Impairment. Additionally, in the event the Junior Priority Secured Obligations of any series are modified pursuant to applicable law (including, without limitation, pursuant to Section 1129 of the Bankruptcy
Code), any reference to such series of Junior Priority Secured Obligations or the Junior Priority Debt Documents governing such series of Junior Priority Secured Obligations shall refer to such obligations or such documents as so modified. 

  
 -50- 

 8.2 First Priority Debt. The First Priority Agent for, and each First Priority
Additional Debt Representative and each First Priority Secured Party with respect to, the First Priority Secured Obligations shall be bound by the following terms and conditions: 

(a) Anything contained herein or in any of the First Priority Debt Documents to the contrary notwithstanding, if an Event of
Default has occurred and is continuing, and the Collateral Trustee or the Controlling Party is taking action to enforce rights in respect of any Collateral, or any distribution is made in respect of any Collateral in any Insolvency Proceeding of a
Grantor (including any adequate protection payments), the proceeds of any sale, collection or other liquidation of any such Collateral by any First Priority Secured Party or received by the Collateral Trustee shall be applied in accordance with the
application set forth in subsection 3.4. 
 (b) It is acknowledged that any series of First Priority Secured Obligations may,
subject to the limitations set forth in the then extant First Priority Debt Documents, be increased, extended, renewed, replaced, restated, supplemented, restructured, repaid, refunded, Refinanced or otherwise amended or modified from time to time,
all without affecting the priorities set forth in subsection 8.2(a) or the provisions of this Collateral Trust Agreement defining the relative rights of the First Priority Secured Parties of any other series within such Class. 

(c) Notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens securing any series
of First Priority Secured Obligations granted on the Collateral and notwithstanding any provision of the Uniform Commercial Code of any jurisdiction, or any other applicable law or the First Priority Debt Documents or any defect or deficiencies in
the Liens securing the First Priority Secured Obligations of any series of First Priority Secured Obligations or any other circumstance whatsoever, each First Priority Secured Party hereby agrees that the Liens securing each series of First Priority
Secured Obligations on any Collateral shall be of equal priority. 
 (d) Only the Controlling Party and the Collateral
Trustee shall act or refrain from acting with respect to any Collateral. No Holder Representative (other than the Controlling Party) shall or shall instruct the Collateral Trustee to, and no Holder Representative (other than the Controlling Party)
shall, commence any judicial or non-judicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action to take
possession of, exercise any right, remedy or power with respect to, or otherwise take any action to enforce its security interest in or realize upon, or take any other action available to it in respect of, any Collateral, whether under any security
agreement, applicable law or otherwise, it being agreed that only the Collateral Trustee and the Controlling Party, acting in accordance with this Collateral Trust Agreement and the Trust Security Documents, shall be entitled to take any such
actions or exercise any such remedies with respect to Collateral at such time. 
 (e) Each First Priority Secured Party
hereby agrees that if it shall realize any proceeds or payment in respect of any Collateral, pursuant to any First Priority Debt Document or by the exercise of any rights available to it under applicable law or in any Insolvency Proceeding or
through any other exercise of remedies, at any time when any First Priority Secured Obligations or commitments in respect thereof have not been paid and performed in full, then it shall hold such proceeds or payment in trust for the other First
Priority Secured Parties and promptly transfer such proceeds or payment, as the case may be, to the Collateral Trustee, to be distributed in accordance with the provisions of subsection 3.4 hereof. 

  
 -51- 

 (f) It is the intention of the First Priority Secured Parties of each series
of First Priority Secured Obligations that the holders of such series of First Priority Secured Obligations (and not the holders of any other series of First Priority Secured Obligations) bear the risk of (i) any determination by a court of
competent jurisdiction that (x) any of the First Priority Secured Obligations of such series of First Priority Secured Obligations are unenforceable under applicable law or are subordinated to any other obligations (other than another series of
First Priority Secured Obligations), (y) any of the First Priority Secured Obligations of such series do not have an enforceable security interest in any of the Collateral securing any other series of First Priority Secured Obligations and/or
(z) any intervening security interest exists securing any other obligations (other than another series of First Priority Secured Obligations) on a basis ranking prior to the security interest of such series of First Priority Secured Obligations
but junior to the security interest of any other series of First Priority Secured Obligations or (ii) the existence of any collateral for any other series of First Priority Secured Obligations that is not Collateral (any such condition referred
to in the foregoing clause (i) or (ii) with respect to any series of First Priority Secured Obligations, an “Impairment” of such series). In the event of any Impairment with respect to any series of First Priority Secured
Obligations, the results of such Impairment shall be borne solely by the holders of such series of First Priority Secured Obligations, and the rights of the holders of such series of First Priority Secured Obligations (including, without limitation,
the right to receive distributions in respect of such series of First Priority Secured Obligations pursuant to subsection 3.4) set forth herein shall be modified to the extent necessary so that the effects of such Impairment are borne solely by the
holders of the series of such First Priority Secured Obligations subject to such Impairment. Additionally, in the event the First Priority Secured Obligations of any series are modified pursuant to applicable law (including, without limitation,
pursuant to Section 1129 of the Bankruptcy Code), any reference to such series of First Priority Secured Obligations or the First Priority Debt Documents governing such series of First Priority Secured Obligations shall refer to such
obligations or such documents as so modified. 
 (g) If the Company and/or any other Grantor shall become the subject of any
Insolvency Proceeding and shall, as debtor(s)-in-possession, move for approval of DIP Financing to be provided by one or more lenders (the “DIP
Lenders”) and/or the use of cash collateral under Section 363 of the Bankruptcy Code or any equivalent provision of any other Bankruptcy Law, each First Priority Secured Party (other than any Controlling Party) agrees that it will
raise no objection to any such DIP Financing or to the Liens on the Collateral securing the same (“DIP Financing Liens”) or to any use of cash collateral that constitutes Collateral, unless the Controlling Party shall then oppose or
object to such DIP Financing or such DIP Financing Liens and/or use of cash collateral (and (i) to the extent that such DIP Financing Liens are senior to the Liens on any such Collateral for the benefit of the Controlling Party, each First
Priority Secured Party (other than the Controlling Party) will subordinate its Liens with respect to such Collateral on the same terms as the Liens of the Controlling Party (other than any Liens of any First Priority Secured Parties constituting DIP
Financing Liens) are subordinated thereto, and (ii) to the extent that such DIP Financing Liens rank pari passu with the Liens on any such Collateral granted to secure the First Priority Secured Obligations of the Controlling Party, each First
Priority Secured Party (other than the Controlling Party) will confirm the priorities with respect to such Collateral as set forth herein), in each case so long as (A) the First Priority Secured Parties of each series of First Priority Secured
Obligations retain the benefit of their Liens on all such Collateral pledged to the DIP Lenders, including proceeds thereof arising after the commencement of such Insolvency Proceeding, with the same priority vis-a-vis all the other First Priority Secured Parties 

  
 -52- 

 
(other than any Liens of the First Priority Secured Parties constituting DIP Financing Liens) as existed prior to the commencement of the Insolvency Proceeding, (B) the First Priority
Secured Parties of each series of First Priority Secured Obligations are granted Liens on any additional or replacement collateral pledged to any First Priority Secured Parties as adequate protection or otherwise in connection with such DIP
Financing and/or use of cash collateral, with the same priority vis-a-vis the First Priority Secured Parties (other than any Liens of the First Priority Secured Parties
constituting DIP Financing Liens) as set forth in this Collateral Trust Agreement, (C) if any amount of such DIP Financing and/or cash collateral is applied to repay any of the First Priority Secured Obligations, such amount is applied pursuant
to subsection 3.4, and (D) if any First Priority Secured Parties are granted adequate protection, including in the form of periodic payments, in connection with such DIP Financing and/or use of cash collateral, the proceeds of such
adequate protection are applied pursuant to subsection 3.4; provided that the First Priority Secured Parties of each series of First Priority Secured Obligations shall have a right to object to the grant of a Lien to secure the DIP
Financing over any Collateral subject to Liens in favor of the First Priority Secured Parties of such series of First Priority Secured Obligations or its Holder Representative that shall not constitute Collateral; and provided,
further, that the First Priority Secured Parties receiving adequate protection shall not object to any other First Priority Secured Party receiving adequate protection comparable to any adequate protection granted to such First Priority
Secured Parties (other than as a provider of DIP Financing) in connection with a DIP Financing and/or use of cash collateral. 
 8.3 First
Priority Secured Obligations Unconditional. All rights and interests of the First Priority Secured Parties hereunder, and all agreements and obligations of the Junior Priority Secured Parties (and, to the extent applicable, the Grantors)
hereunder, shall remain in full force and effect irrespective of: 
 (i) any lack of validity or enforceability of any First
Priority Debt Document; 
 (ii) any change in the time, place or manner of payment of, or in any other term of, all or any
portion of the First Priority Secured Obligations, or any amendment, waiver or other modification, whether by course of conduct or otherwise, or any refinancing, replacement, refunding or restatement of any First Priority Debt Document; 

(iii) prior to the payment and performance in full of the First Priority Secured Obligations, any exchange, release, voiding,
avoidance or non-perfection of any Lien in any Collateral or any other collateral, or any release, amendment, waiver or other modification, whether by course of conduct or otherwise, or any Refinancing of all
or any portion of the First Priority Secured Obligations or any guarantee or guaranty thereof; or 
 (iv) any other
circumstances that otherwise might constitute a defense available to, or a discharge of, any Grantor in respect of the First Priority Secured Obligations or any Junior Priority Secured Party in respect of this Collateral Trust Agreement. 

8.4 [Reserved]. 
 8.5
Certain Specified Collateral. Notwithstanding anything to the contrary in this Collateral Trust Agreement, the parties hereto agree that, from and after the Effective Date, any Grantor or any of their Subsidiaries may, by written notice to
the Collateral Trustee, elect to provide additional collateral for the benefit of the holders of any series of First Priority Secured Obligations, without providing such additional collateral for the benefit of the holders of any other series of
First Priority Secured Obligations so long as such provision is not in violation of any First Priority Debt Documents (such Collateral, the 

  
 -53- 

 
“Specified Collateral” and such obligations, the “Specified First Priority Secured Obligations”). The security interest in any such Specified Collateral shall be
held solely for the benefit of the holders of the series of First Priority Secured Obligations specified in such notice, and the rights of the holders of all First Priority Secured Obligations (including, without limitation, the right to receive
distributions in respect of such First Priority Secured Obligations pursuant to subsection 3.4) set forth herein shall be modified to the extent necessary so that the benefits of the security interest in such Specified Collateral are granted solely
to the holders of such designated series of First Priority Secured Obligations. 
 8.6 Information Concerning Financial Condition of the
Grantors. Each Secured Party hereby assumes responsibility for keeping itself informed of the financial condition of the Company, Parent and each of the other Grantors and all other circumstances bearing upon the risk of nonpayment of the First
Priority Secured Obligations or the Junior Priority Secured Obligations. No Secured Party shall have any duty to advise any other Secured Party of information known to it regarding such condition or any such circumstances. In the event any Secured
Party, in its sole discretion, undertakes at any time or from time to time to provide any information to any other Secured Party, it shall be under no obligation (a) to provide any such information to such other Secured Party or any other party
on any subsequent occasion, (b) to undertake any investigation not a part of its regular business routine, or (c) to disclose any other information. 

8.7 Similar Liens and Agreements. The parties hereto agree that it is their intention that the Collateral for the First Priority Secured
Obligations and the Collateral for the Junior Priority Secured Obligations be substantially identical (subject in each case to subsection 8.5). In furtherance of the foregoing, the parties hereto acknowledge, subject to the other provisions of this
Collateral Trust Agreement, that the Grantors shall cause the First Priority Security Documents and the Junior Priority Security Documents to be in all material respects the same forms of documents other than as is necessary or appropriate to
reflect the first lien and second lien nature of the Secured Obligations thereunder. 
 8.8 Concerning Certain Holder Representatives.
(a) Notwithstanding anything herein or in any other document or agreement related hereto to the contrary, it is expressly understood and agreed that (i) this Collateral Trust Agreement is executed and delivered by Deutsche Bank Trust
Company Americas (“DBTCA”) not individually or personally, but solely as trustee for the First Priority Initial Spectrum Obligations and as trustee for the First Priority Notes, in the exercise of the powers and authority conferred
and vested in it, pursuant to the Existing Sprint Spectrum Indenture and the First Priority Debt Documents, respectively, (ii) each of the representations, undertakings and agreements by the trustee for the First Priority Initial Spectrum
Obligations and the trustee for the First Priority Notes made herein are not made or intended as personal representations, undertakings and agreements by DBTCA (iii) nothing herein contained shall be construed as creating any liability on
DBTCA, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto,
(iv) DBTCA has made no investigation as to the accuracy or completeness of any representations and warranties made by the parties hereto and (v) under no circumstances shall DBTCA be (a) personally liable for the payment of
indebtedness or expenses or (b) liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken under this Collateral Trust Agreement or any other related document, except to the extent arising from
its gross negligence or willful misconduct (in any case, as determined by a final judgment of a court of competent jurisdiction). 
 (b)
DBTCA, as Holder Representative for the First Priority Initial Spectrum Obligations and as Holder Representative for the First Priority Notes, shall be entitled to all of the same rights, protections, immunities and indemnities afforded to it under
the Existing Sprint Spectrum Indenture and the First Priority Debt Documents, as the case may be, as if the same were specifically set forth herein. 

  
 -54- 

 (c) Whenever reference is made in this Collateral Trust Agreement or any other Trust
Security Document to any action by, consent, designation, specification, requirement of approval of, notice, request or other communication from, or other direction given or action to be undertaken or to be (or not to be) suffered or omitted by any
Holder Representative (including if it then the Controlling Party) or to any election, decision, opinion, acceptance, use of judgment, expression of satisfaction or other exercise of discretion, rights or remedies to be made (or not to be made) by a
Holder Representative in this Collateral Trust Agreement and any Trust Security Document, it is understood that in all cases such Holder Representative shall be entitled to act, give, withhold, suffer, omit, take or otherwise undertake and exercise
the same (or shall not undertake and exercise the same), as directed by the requisite secured parties in accordance with the applicable First Priority Debt Documents or the Existing Sprint Spectrum Indenture, as the case may be. In all cases a
Holder Representative shall be fully justified in failing or refusing to take any such action under this Collateral Trust Agreement if it shall not have received such written instruction, advice or concurrence. Additionally, under no circumstances
shall a Holder Representative be liable for any delay in acting, or liability caused by such delay, while it is awaiting such direction or indemnity. This provision is intended solely for the benefit of the Holder Representatives and their
respective successors and permitted assigns and is not intended to and will not entitle the other parties hereto to any defense, claim or counterclaim, or confer any rights or benefits on any party hereto. 

8.9 Execution of Certain Documents. The words “execution” execution,” “signed,” “signature,”
“delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of
records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable law, the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions
Act; provided that, in respect of documents to be signed by entities established within the European Union, the Electronic Signature qualifies as a “qualified electronic signature” within the meaning of the Regulation (EU) n°910/2014
of the European parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transaction in the internal market as amended from time to time. Each party hereby consents to the use of any third
party electronic signature capture service providers as may be reasonably chosen by a signatory hereof; provided that nothing herein shall require the Collateral Trustee to accept Electronic Signatures in any form or format without its prior
written consent. 
 [remainder of page intentionally left blank; signature pages follow] 

  
 -55- 

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

			
	T-MOBILE US, INC.
		
	By:	 	/s/ J. Braxton Carter
		 	Name: J. Braxton Carter
		 	 Title:   Executive Vice President and Chief

            Financial Officer

	
	T-MOBILE USA, INC.
		
	By:	 	/s/ J. Braxton Carter
		 	Name: J. Braxton Carter
		 	 Title:   Executive Vice President and Chief

            Financial Officer

  

			
	 Address for Notices:

		
	 Address:
	 	
		
	 Attention:
	 	
	 Email:
	 	
	 Telephone:
	 	
	 Fax:
	 	
	
	 with a copy to (if applicable):

		
	 Address:
	 	
		
	 Attention:
	 	
	 Email:
	 	
	 Telephone:
	 	
	 Fax:
	 	

 [Signature Page to Collateral Trust and Intercreditor Agreement] 

 
			
	EACH OF THE ENTITIES LISTED ON
	ANNEX B ATTACHED HERETO
		
	By:	 	/s/ J. Braxton Carter
		 	Name: J. Braxton Carter
		 	 Title:   Executive Vice President and Chief

            Financial Officer

  

			
	 Address for Notices:

		
	 Address:
	 	
		
	 Attention:
	 	
	 Email:
	 	
	 Telephone:
	 	
	 Fax:
	 	
	
	 with a copy to (if applicable):

		
	 Address:
	 	
		
	 Attention:
	 	
	 Email:
	 	
	 Telephone:
	 	
	 Fax:
	 	

 [Signature Page to Collateral Trust and Intercreditor Agreement] 

 
			
	EACH OF THE ENTITIES LISTED ON
	ANNEX A ATTACHED HERETO
		
	By:	 	/s/ Jud Henry
		 	Name: Jud Henry
		 	Title:   Vice President and Treasurer

  

			
	 Address for Notices:

		
	 Address:
	 	 Sprint Corporation

		 	 6200 Sprint Parkway

		 	 Overland Park, Kansas 66251

	 Attention:
	 	 Jud Henry

	 Email:
	 	 jud.d.henry@sprint.com

	 Telephone:

	 Fax:
	 	
	
	 with a copy to (if applicable):

		
	 Address:
	 	
		
	 Attention:
	 	
	 Email:
	 	
	 Telephone:
	 	
	 Fax:
	 	

 [Signature Page to Collateral Trust and Intercreditor Agreement] 

 Annex A 

ALDA WIRELESS HOLDINGS, LLC 
 AMERICAN TELECASTING DEVELOPMENT,
LLC 
 AMERICAN TELECASTING OF ANCHORAGE, LLC 
 AMERICAN
TELECASTING OF COLUMBUS, LLC 
 AMERICAN TELECASTING OF DENVER, LLC 

AMERICAN TELECASTING OF FORT MYERS, LLC 
 AMERICAN TELECASTING OF
FT. COLLINS, LLC 
 AMERICAN TELECASTING OF GREEN BAY, LLC 

AMERICAN TELECASTING OF LANSING, LLC 
 AMERICAN TELECASTING OF
LINCOLN, LLC 
 AMERICAN TELECASTING OF LITTLE ROCK, LLC 

AMERICAN TELECASTING OF LOUISVILLE, LLC 
 AMERICAN TELECASTING OF
MEDFORD, LLC 
 AMERICAN TELECASTING OF MICHIANA, LLC 
 AMERICAN
TELECASTING OF MONTEREY, LLC 
 AMERICAN TELECASTING OF REDDING, LLC 

AMERICAN TELECASTING OF SANTA BARBARA, LLC 
 AMERICAN TELECASTING
OF SEATTLE, LLC 
 AMERICAN TELECASTING OF SHERIDAN, LLC 

AMERICAN TELECASTING OF YUBA CITY, LLC 
 APC REALTY AND EQUIPMENT
COMPANY, LLC 
 ASSURANCE WIRELESS OF SOUTH CAROLINA, LLC 

ASSURANCE WIRELESS USA, L.P. 
 ATI SUB, LLC 

BOOST WORLDWIDE, LLC 
 BROADCAST CABLE, LLC 

CLEAR WIRELESS LLC 
 CLEARWIRE COMMUNICATIONS LLC 

CLEARWIRE CORPORATION 
 CLEARWIRE HAWAII PARTNERS SPECTRUM, LLC

 CLEARWIRE IP HOLDINGS LLC 
 CLEARWIRE LEGACY LLC 

CLEARWIRE SPECTRUM HOLDINGS II LLC 
 CLEARWIRE SPECTRUM HOLDINGS
III LLC 
 CLEARWIRE SPECTRUM HOLDINGS LLC 
 CLEARWIRE XOHM LLC

 FIXED WIRELESS HOLDINGS, LLC 
 FRESNO MMDS ASSOCIATES, LLC

 INDEPENDENT WIRELESS ONE LEASED REALTY CORPORATION 

KENNEWICK LICENSING, LLC 
 MINORCO, LLC 

NEXTEL COMMUNICATIONS OF THE MID-ATLANTIC, INC. 

NEXTEL OF NEW YORK, INC. 
 NEXTEL RETAIL STORES, LLC 

NEXTEL SOUTH CORP. 
 NEXTEL SYSTEMS, LLC 

NEXTEL WEST CORP. 
 NSAC, LLC 

PCTV GOLD II, LLC 

 PCTV SUB, LLC 

PEOPLE’S CHOICE TV OF HOUSTON, LLC 
 PEOPLE’S CHOICE TV
OF ST. LOUIS, LLC 
 PRWIRELESS PR, LLC 
 SIHI NEW ZEALAND
HOLDCO, INC. 
 SN HOLDINGS (BR I) LLC 
 SN UHC 1, INC. 

SN UHC 3, INC. 
 SN UHC 4, INC. 

SPEEDCHOICE OF DETROIT, LLC 
 SPEEDCHOICE OF PHOENIX, LLC 

SPRINT (BAY AREA), LLC 
 SPRINT COMMUNICATIONS COMPANY L.P. 

SPRINT COMMUNICATIONS COMPANY OF NEW HAMPSHIRE, INC. 
 SPRINT
COMMUNICATIONS COMPANY OF VIRGINIA, INC. 
 SPRINT CONNECT LLC 

SPRINT CORPORATION 
 SPRINT CORPORATION 

SPRINT EBUSINESS, INC. 
 SPRINT ENTERPRISE MOBILITY, LLC 

SPRINT ENTERPRISE NETWORK SERVICES, INC. 
 SPRINT EWIRELESS, INC.

 SPRINT HOLDCO, LLC 
 SPRINT INTERNATIONAL COMMUNICATIONS
CORPORATION 
 SPRINT INTERNATIONAL HOLDING, INC. 
 SPRINT
INTERNATIONAL INCORPORATED 
 SPRINT INTERNATIONAL NETWORK COMPANY LLC 

SPRINT PCS ASSETS, L.L.C. 
 SPRINT SOLUTIONS, INC. 

SPRINT SPECTRUM HOLDING COMPANY, LLC 
 SPRINT SPECTRUM L.P. 

SPRINT SPECTRUM REALTY COMPANY, LLC 
 SPRINT/UNITED MANAGEMENT
COMPANY 
 SPRINTCOM, INC. 
 SWV SIX, INC. 

TDI ACQUISITION SUB, LLC 
 TRANSWORLD TELECOM II, LLC 

US TELECOM, INC. 
 USST OF TEXAS, INC. 

UTELCOM LLC 
 VIRGIN MOBILE USA – EVOLUTION, LLC 

VMU GP, LLC 
 WBS OF AMERICA, LLC 

WBS OF SACRAMENTO, LLC 
 WBSY LICENSING, LLC 

WCOF, LLC 
 WIRELESS BROADBAND SERVICES OF AMERICA, L.L.C. 

WIRELINE LEASING CO., INC. 

 Annex B 

IBSV LLC 
 LAYER3 TV, INC. 

L3TV CHICAGOLAND CABLE SYSTEM, LLC 
 L3TV COLORADO CABLE SYSTEM,
LLC 
 L3TV DALLAS CABLE SYSTEM, LLC 
 L3TV DC CABLE SYSTEM, LLC

 L3TV DETROIT CABLE SYSTEM, LLC 
 L3TV LOS ANGELES CABLE
SYSTEM, LLC 
 L3TV MINNEAPOLIS CABLE SYSTEM, LLC 
 L3TV NEW
YORK CABLE SYSTEM, LLC 
 L3TV PHILADELPHIA CABLE SYSTEM, LLC 

L3TV SAN FRANCISCO CABLE SYSTEM, LLC 
 L3TV SEATTLE CABLE SYSTEM,
LLC 
 METROPCS CALIFORNIA, LLC 
 METROPCS FLORIDA, LLC 

METROPCS GEORGIA, LLC 
 METROPCS MASSACHUSETTS, LLC 

METROPCS MICHIGAN, LLC 
 METROPCS NETWORKS CALIFORNIA, LLC 

METROPCS NETWORKS FLORIDA, LLC 
 METROPCS NEVADA, LLC 

METROPCS NEW YORK, LLC 
 METROPCS PENNSYLVANIA, LLC 

METROPCS TEXAS, LLC 
 PUSHSPRING, INC. 

T-MOBILE CENTRAL LLC 
 T-MOBILE FINANCIAL LLC 
 T-MOBILE LEASING LLC 

T-MOBILE LICENSE LLC 
 T-MOBILE NORTHEAST LLC 
 T-MOBILE PCS HOLDINGS LLC 

T-MOBILE PUERTO RICO HOLDINGS LLC 

T-MOBILE PUERTO RICO LLC 

T-MOBILE RESOURCES CORPORATION 

T-MOBILE SOUTH LLC 
 T-MOBILE SUBSIDIARY IV LLC 
 T-MOBILE WEST LLC 

THEORY MOBILE, INC. 

 
			
	 DEUTSCHE BANK AG NEW YORK BRANCH,
as First Priority Agent and as Holder
Representative for the Initial Syndicated Credit Agreement

		
	By:	 	/s/ Michael Strobel
		 	Name: Michael Strobel
		 	Title:   Vice President
		
	By:	 	/s/ Alicia Schug
		 	Name: Alicia Schug
		 	Title:   Vice President
	
	Address for Notices:
	
	Address: 60 Wall Street
	New York, NY 10005
	
	Attention: Michael Strobel
	Email: michael-p.strobel@db.com
	Telephone: 212-250-0939

 [Signature Page to Collateral Trust and Intercreditor Agreement] 

 
			
	 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Holder Representative for the First Priority
Initial Spectrum Obligations

		
	By:	 	/s/ Cynthia Valverde
		 	Name: Cynthia Valverde
		 	Title:   Assistant Vice President
		
	By:	 	/s/ Katherine M. Wannenmacher
		 	Name: Katherine M. Wannenmacher
		 	Title:   Vice President
	
	Address for Notices:
	
	Deutsche Bank Trust Company Americas
	1761 East St. Andrew Place, Santa Ana, CA 92705
	Attention: Amy McNulty – Deal ID SPRT16
	Email: amy.mcnulty@db.com

 [Signature Page to Collateral Trust and Intercreditor Agreement] 

 
			
	 GOLDMAN SACHS BANK USA,
as Holder Representative for the First Priority Bridge Loan
Agreement

		
	By:	 	/s/ Robert Ehudin
		 	Name: Robert Ehudin
		 	Title:   Authorized Signatory
	
	Address for Notices:
	
	Goldman Sachs Bank USA
	2001 Ross Ave, 29th Floor
	Dallas, TX 75201
	Attention: SBD Operations
	Telephone: (972) 368-2323
	Facsimile: (646) 769-7829
	E-mail: gs-dallas-adminagency@ny.email.gs.com and
gs-sbdagency-borrowernotices@ny.email.gs.com

 [Signature Page to Collateral Trust and Intercreditor Agreement] 

 
			
	 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Collateral Trustee

		
	By:	 	/s/ Annie Jaghatspanyan
		 	Name: Annie Jaghatspanyan
		 	Title:   Vice President
		
	By:	 	/s/ James Briggs
		 	Name: James Briggs
		 	Title:   Vice President
	
	Address for Notices:
	
	Deutsche Bank Trust Company Americas
	Trust and Agency Services
	60 Wall Street, 24th Floor
	Mail Stop: NYC60 - 2410
	New York, NY 10005
	USA
	Attention: Project Finance Agency Services, T-Mobile USA, Inc. SE4416
	Facsimile: (646) 961 - 3317

 [Signature Page to Collateral Trust and Intercreditor Agreement]

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