Document:

Second Amendment to, and Consent and Waiver under,Credit and Security Agreements

 Exhibit 10.35 
 SECOND AMENDMENT TO, AND 
 CONSENT AND WAIVER UNDER, CREDIT AGREEMENT AND SECURITY 

AGREEMENT 
 THIS SECOND AMENDMENT
TO, AND CONSENT AND WAIVER UNDER, CREDIT AGREEMENT AND SECURITY AGREEMENT (this “Second Amendment”) is made and entered into as of July 28, 2006, by and among Monotype Imaging Holdings Corp., a Delaware corporation
(“Parent”), Monotype Imaging, Inc., a Delaware corporation (“Administrative Borrower”), International Typeface Corporation, a New York corporation (“Typeface” and, together with Administrative
Borrower, the “Borrowers”), the lenders listed on the signatory pages hereof (the “Lenders”), and D.B. Zwirn Special Opportunities Fund, L.P., a Delaware limited partnership, in its capacity as administrative agent
(“Agent”). 
 WITNESSETH: 
 WHEREAS, Parent, Borrowers, the Lenders and Agent are parties to that certain Credit Agreement, dated as of November 5, 2004 (as amended, modified, supplemented or amended and restated from time to time, the
“Credit Agreement”); 
 WHEREAS, Parent, Borrower and Agent are parties to that certain Security Agreement, dated as of
November 5, 2004 (as it may be amended, modified, supplemented or amended and restated from time to time, the “Security Agreement”); 
 WHEREAS, Administrative Borrower desires to enter into a Stock Purchase Agreement in the form of Exhibit A hereto (the “China Type Stock Purchase Agreement”), among Administrative Borrower and
the other shareholders (the “China Type Shareholders”) of China Type Design Limited, a limited liability company incorporated under the laws of Hong Kong (“China Type”), pursuant to which Administrative Borrower
shall acquire all of the shares in China Type held by the China Type Shareholders for a cash purchase price not to exceed $4,293,000, of which $2,593,000 shall be paid to the China Type Shareholders on the closing date of the China Type Stock
Purchase Agreement and $1,700,000 of which will be funded to an escrow account to be released as follows: $566,667 on the first anniversary of the closing date of the China Type Stock Purchase Agreement and $1,133,333 on the second anniversary of
the closing date of the China Type Stock Purchase Agreement, in each case, subject to the terms of such escrow agreement and the China Type Purchase Agreement (collectively, the “China Type Acquisition”); 
 WHEREAS, upon the consummation of the China Type Acquisition, Administrative Borrower shall own 100% of the outstanding capital stock of China Type;

 WHEREAS, absent a waiver from Agent and the Lenders, Administrative Borrower’s consummation of the China Type Acquisition in
accordance with the terms of the China Type Stock Purchase Agreement would violate Section 6.12 of the Credit Agreement; 
 WHEREAS, Parent and German Holdings (as defined below) desire to enter into a Share Purchase Agreement in the form of Exhibit B hereto (the “Linotype Purchase Agreement”), among Parent, Blitz 06-683 GmbH, a German
limited liability company (“German Holdings”), 

 
and Heidelberger Druckmaschinen Aktiengesellschaft, Kurfürsten-Anlage 52-60, 69115 Heidelberg (the “Linotype Seller”), pursuant to
which (i) Parent shall acquire certain assets of the Linotype Seller as set forth on Exhibit F (the “US Linotype Assets”) and (ii) German Holdings shall acquire all of the shares in Linotype GmbH, a limited liability
company incorporated under the laws of Germany (“Linotype”) for an aggregate cash purchase price not to exceed 45,500,000 Euros (collectively, the “Linotype Acquisition”); 
 WHEREAS, upon the consummation of the Linotype Acquisition, German Holdings shall own 100% of the outstanding capital stock of Linotype; 
 WHEREAS, absent a waiver from Agent and the Lenders, Parent’s and German Holdings’ consummation of the Linotype Acquisition in accordance with
the terms of the Linotype Purchase Agreement would violate Section 6.12 of the Credit Agreement; 
 WHEREAS, in order to finance
the Linotype Acquisition, Borrowers desire to (a) increase the Term Loan Amount under the Credit Agreement from $65,000,000 to $70,000,000, (b) increase the Term Loan Amount under the WFF Credit Agreement from $88,882,824 (the aggregate
outstanding principal amount of the Term Loan under the WFF Credit Agreement immediately prior to the effectiveness of the Second Amendment) to $140,000,000 (the “WFF Term Loan Increase”), and (c) increase the Maximum Revolver
Amount under the WFF Credit Agreement from $5,000,000 to $10,000,000 (the “WFF Revolver Increase” and together with the WFF Term Loan Increase, collectively, the “WFF Increase”); 
 WHEREAS, increasing the Term Loan Amount under the Credit Agreement requires the approval of all the Lenders; 
 WHEREAS, absent a waiver from Agent and the Lenders, the WFF Increase would violate Section 6.7(c) of the Credit Agreement; 
 WHEREAS, Parent and Borrowers request the amendment of certain provisions of the Credit Agreement in connection with the China Type Acquisition, the
Linotype Acquisition and the WFF Increase; and 
 WHEREAS, Parent, Borrowers, Agent and the Lenders have agreed to amend the Credit Agreement
and to consent to the China Type Acquisition, the Linotype Acquisition and the WFF Increase, all as herein provided, subject to the terms and conditions set forth herein; 
 NOW, THEREFORE, in consideration of the agreements and provisions herein contained, the parties hereto do hereby agree as follows: 
 Section 1. Definitions. Any capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement. 
 Section 2. Consent and Waiver Under Credit Agreement. Subject to the satisfaction of the terms and conditions set forth herein,
Agent and each of the Lenders hereby (a) consents to, and waives the application of Section 6.12 of the Credit Agreement solely with respect to, Administrative Borrower’s consummation of the China Type Acquisition in accordance
with the terms of the China Type Stock Purchase Agreement in the form of Exhibit A hereto, (b) consents 

  

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to, and waives the application of Section 6.12 of the Credit Agreement solely with respect to, Parent’s and German Holdings’
consummation of the Linotype Acquisition in accordance with the terms of the Linotype Purchase Agreement in the form of Exhibit B hereto, and (c) consents to, and waives the application of Section 6.7(c) of the Credit
Agreement solely with respect to, the WFF Increase to the extent that (i) the Term Loan Amount under the WFF Credit Agreement does not exceed $140,000,000 and (ii) the Maximum Revolver Amount under the WFF Credit Agreement does not exceed
$10,000,000. 
 Section 3. Amendments to Credit Agreement. The Credit Agreement is hereby amended, effective as of the
date this Second Amendment becomes effective in accordance with Section 6 hereof, as follows: 
 3.01 Amendments to
Section 2.1. Section 2.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 “2.1 Term Loan. Subject to the terms and conditions of this Agreement, (i) on the Closing Date each Lender agreed (severally, not jointly or jointly and severally) to make a term loan
(collectively, the “Original Term Loan”) to Borrowers in an amount equal to such Lender’s Pro Rata Share of the Original Term Loan Amount, and (ii) on the First Amendment Effective Date, subject to the terms and conditions
of this Agreement, each Lender agreed (severally, not jointly or jointly and severally) to make a term loan (collectively, the “Additional Term Loan”) to Borrowers in an amount equal to such Lender’s Pro Rata Share of the
Additional Term Loan Amount. On the Second Amendment Effective Date, subject to the terms and conditions of this Agreement, each Lender with a Second Additional Term Loan Commitment agrees (severally, not jointly or jointly and severally) to make a
term loan (collectively, the “Second Additional Term Loan”) to Borrowers in an amount equal to its Second Additional Term Loan Commitment. The outstanding unpaid principal balance and all accrued and unpaid interest under the Term
Loan shall be due and payable on the date of termination of this Agreement, whether by its terms, by prepayment, or by acceleration. All amounts outstanding under the Term Loan shall constitute Obligations. Once any portion of the Term Loan has been
paid or prepaid, it may not be reborrowed.” 
 3.02 Amendments to Section 3.2. Section 3.2 of the Credit
Agreement is hereby amended and restated in its entirety to read as follows: 
 “3.2 Conditions Precedent to the
Second Additional Term Loan. The obligation of each Lender to make its Second Additional Term Loan is subject to the fulfillment, to the satisfaction of Agent and each Lender, of each of the conditions precedent set forth on
Schedule 3.2 (the making of such Second Additional Term Loan by a Lender being conclusively deemed to be its satisfaction or waiver of such conditions precedent).” 
  

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 3.03 Amendments to Section 3.3. Section 3.3 of the Credit Agreement
is hereby amended by amending and restating the first sentence of Section 3.3 in its entirety to read as follows: 
 “This
Agreement shall continue in full force and effect for a term ending on the fifth anniversary of the Second Amendment Effective Date (the “Maturity Date”).” 
 3.04 New Section 3.7. A new Section 3.7 is hereby added to the Credit Agreement immediately after
Section 3.6 to read as follows: 
 “3.7 Conditions Subsequent to the Second Amendment Effective
Date. The obligation of the Lender Group (or any member thereof) to maintain the Term Loan (or otherwise extend credit hereunder) after the Second Amendment Effective Date is subject to the fulfillment, on or before the date
applicable thereto, of each of the conditions subsequent set forth below (the failure by Borrowers to so perform or cause to be performed constituting an Event of Default): 
 (a) promptly after execution thereof, true and complete copies of the China Type Acquisition Documents; 
 (b) on or prior to the date that is 10 Business Days after the closing of the China Type Acquisition Transaction, (i) Agent
shall have received an executed Pledged Interest Addendum pursuant to Section 6 of the Security Agreement with respect to a pledge of 65% of the issued and outstanding capital Stock of the Hong Kong Subsidiary entitled to vote and 100% of the
issued and outstanding capital Stock of the Hong Kong Subsidiary not entitled to vote, (ii) Agent (or its agent or designee) shall have received the stock certificates representing the same and stock powers duly executed in blank and
(iii) Agent shall have received a joinder to the Intercompany Subordination Agreement, duly executed by China Type. 
 (c) on or prior to the date that is 2 Business Days after the Second Amendment Effective Date, Agent (or its agent or designee) shall have received a copy of the notarial deed according to which shares of Stock of German Holdings shall have
been pledged to the Agent and the Lenders pursuant to the Security Agreement and the German Security Documents; 
 (d) on or
prior to the date that is 15 Business Days after the Second Amendment Effective Date, Agent shall have received an updated Schedule 4.17 to the Credit Agreement, in form and substance reasonably satisfactory to Agent; 
 (e) on or prior to the date that is 15 Business Days after the Second Amendment Effective Date, Agent shall have received updated
Schedules 1, 2, 3, 4, 5, 6, 7 and 8 to the Security Agreement, in form and substance reasonably satisfactory to Agent; 
 (f)
on or prior to the date that is 2 Business Days after the Second Amendment Effective Date, Agent shall have received a joinder to the Intercompany Subordination Agreement, duly executed by each of German Holdings and Linotype; 
 (g) on or prior to the date that is 60 days after the Second Amendment Effective Date, Agent shall have received satisfactory evidence
that not less than the Required Library of all existing copyrights of Parent and its Subsidiaries have been registered with the United States Copyright Office; and 
  

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 (h) on or prior to the date that is 60 days after the Second Amendment Effective Date,
Agent shall have received evidence reasonably satisfactory to it that the source and object code for each version or versions of each item of computer software programs or other technology of Parent and its Subsidiaries constituting the Required
Library has been deposited with the escrow agent in accordance with the terms and conditions of the Source Code Escrow Agreement, as provided in Section 6(g)(viii) of the Security Agreement.” 
 3.05 Amendments to Section 4.9. 
 (a) Clauses (a) through (d), (f) and (h) of Section 4.9 of the Credit Agreement are hereby amended by
deleting the phrase “the other Loan Documents and the Acquisition Documents” therein and substituting in lieu thereof the phrase “the other Loan Documents, the Acquisition Documents, the China Type Acquisition Documents and the
Linotype Acquisition Documents”. 
 (b) Clause (i) of Section 4.9 of the Credit Agreement is
hereby amended by deleting the phrase “The Loan Documents and the Acquisition Documents” therein and substituting in lieu thereof the phrase “The Loan Documents, the Acquisition Documents, the China Type Acquisition Documents and the
Linotype Acquisition Documents”. 
 3.06 Amendments to Section 4.18. Section 4.18 of the Credit Agreement
is hereby amended by deleting the phrase “the other Loan Documents, the Acquisition Documents” therein and substituting in lieu thereof the phrase “the other Loan Documents, the Acquisition Documents, the China Type Acquisition
Documents, the Linotype Acquisition Documents”. 
 3.07 Amendments to Section 4.20. Section 4.20 of the
Credit Agreement is hereby amended by inserting the following clauses (c) and (d) following the end of clause (b) thereof: 
 “(c) (i) As of the Second Amendment Effective Date, no party to any Linotype Acquisition Document or any China Type Acquisition
Document is in default on any of its material obligations under such Linotype Acquisition Document or China Type Acquisition Document, and after the Second Amendment Effective Date, no party to any Linotype Acquisition Document or China Type
Acquisition Document is in default on any of its material obligations under such Linotype Acquisition Document or such China Type Acquisition Document the default of which could reasonably be expected to adversely affect the Lender Group,
(ii) all representations and warranties made by Parent, any Borrower, or German Holdings (in the case of the Linotype Acquisition Documents) in the Linotype Acquisition Documents or the China Type Acquisition Documents and in the certificates
delivered in connection therewith are true and correct in all material respects as of the Second Amendment Effective Date and, to the best knowledge of Parent, each Borrower and German Holdings (in the case of the Linotype Acquisition Documents),
all material representations and warranties made in the Linotype Acquisition Documents and the China Type Acquisition Documents by or on behalf of 

  

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the Linotype Seller and the China Type Shareholders, as the case may be, or any other party thereto other than any Loan Party party thereto, are true and
correct in all material respects as of the Second Amendment Effective Date, (iii) all written information (taken as a whole) with respect to the Linotype Acquisition Transaction and the China Type Acquisition Transaction furnished to Agent by
or on behalf of any Loan Party was, at the time the same was so furnished, complete and correct in all material respects, or has been subsequently supplemented by other written information to become complete and correct in all material respects,
(iv) no representation, warranty or statement made by any Loan Party party thereto, when taken as a whole, or, to the best knowledge of Parent, each Borrower, and German Holdings (in the case of the Linotype Acquisition), the Linotype Seller or
the China Type Shareholders, as the case may be, or any other party thereto other than any Loan Party party thereto, at the time made in any Linotype Acquisition Document, or any China Type Acquisition Document or any agreement, certificate,
statement or document required to be delivered pursuant to any Linotype Acquisition Document or any China Type Acquisition Document, when taken as a whole, contains any untrue statement of material fact or omits to state a material fact necessary in
order to make the statements contained therein not misleading in light of the circumstances in which they were made, and (v) in connection with the Linotype Acquisition Transaction, German Holdings is acquiring the Linotype Stock, and, on the
Second Amendment Effective Date, after giving effect to the transactions contemplated by the Linotype Acquisition Documents, will have good title to the Linotype Stock, free and clear of all Liens. 
 (d) (i) Parent, Borrowers and German Holdings (in the case of the Linotype Acquisition) have delivered to Agent a complete and
correct copy of the Linotype Acquisition Documents and China Type Acquisition Documents, including all schedules and exhibits thereto, (ii) each Linotype Acquisition Document and each China Type Acquisition Document sets forth the entire
agreement and understanding of the parties thereto relating to the subject matter thereof, and there are no other agreements, arrangements or understandings, written or oral, relating to the matters covered thereby, (iii) no Linotype
Acquisition Document and no China Type Acquisition Document has been amended or otherwise modified without the prior written consent of Agent, (iv) the execution, delivery and performance of each of the Linotype Acquisition Documents and each
of the China Type Acquisition Documents has been duly authorized by all necessary action on the part of each Loan Party party thereto and, to the best knowledge of Parent, each Borrower and German Holdings (in the case of the Linotype Acquisition),
each other Person party thereto, (v) the Linotype Acquisition Transaction and the China Type Acquisition Transaction has been effected in accordance with the terms of the Linotype Acquisition Documents and all applicable law, (vi) at the
time of consummation of the Linotype Acquisition Transaction and the China Type Acquisition Transaction, there does not exist any judgment, order or injunction prohibiting or imposing any material adverse condition upon the consummation of the
Linotype Acquisition Transaction or the China Type Acquisition Transaction, (vii) at the time of consummation thereof, all consents and approvals of, and filings and registrations with, and all other actions in respect of, all Government
Authorities required in order to consummate the Linotype Acquisition Transaction and the China Type Acquisition Transaction shall have been obtained, given, filed or taken and shall be in full force and effect, (viii) all actions taken 

  

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by the Loan Parties pursuant to or in furtherance of the Linotype Acquisition Transaction and the China Type Acquisition Transaction have been taken in
compliance in all material respects with the Linotype Acquisition Documents or the China Type Acquisition Documents, as the case may be, and applicable law, and (ix) each Linotype Acquisition Document and each China Type Acquisition Document is
the legal, valid and binding obligation of each Loan Party party thereto and, to the best knowledge of Parent, each Borrower and German Holdings (in the case of the Linotype Acquisition Transaction), the other parties thereto, enforceable against
such parties in accordance with its terms.” 
 3.08 Amendments to Section 5.17. Section 5.17 of the
Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 “5.17 Acquisition
Transaction; Linotype Acquisition Transaction. 
 (a) Contemporaneously with the making of the Original Term
Loan: (i) cause all transactions contemplated by the Acquisition Documents to be consummated; (ii) cause the Acquisition Transaction and the Merger to become effective; and (iii) furnish evidence thereof to Agent, as well as certified
(as of the Closing Date) true and complete copies of the Acquisition Documents, which shall be in compliance with all applicable laws and for which all necessary approvals shall have been obtained in connection therewith. 
 (b) Contemporaneously with making the Second Additional Term Loan: (i) cause all transactions contemplated by the Linotype
Acquisition Documents to be consummated; (ii) cause the Linotype Acquisition Transaction to become effective; and (iii) furnish evidence thereof to Agent, as well as certified (as of the Second Amendment Effective Date) true and complete
copies of the Linotype Acquisition Documents, which shall be in compliance with all applicable laws and for which all necessary approvals shall have been obtained in connection therewith. 
 (c) Promptly provide Agent with true and complete copies of any and all material documents delivered by or to any Loan Party pursuant to
the terms of the Acquisition Documents, the China Type Acquisition Documents or the Linotype Acquisition Documents.” 
 3.09 New
Section 5.23. The Credit Agreement is hereby amended by adding the following new Section 5.23: 
 “5.23 Foreign Subsidiaries. Within 30 days of the first date on which any Foreign Subsidiary that is not a Loan Party becomes a Material Foreign Subsidiary, Borrower shall cause all holders of capital Stock issued by such
Material Foreign Subsidiary that are Loan Parties to execute and deliver to Agent such share or stock pledge agreements with respect to the capital Stock issued by such Material Foreign Subsidiary as Agent shall require, which stock pledge
agreements shall be governed by the laws of the jurisdiction of organization of the issuer of such capital Stock and be in form and substance satisfactory to Agent, together with (a) appropriate certificates and 

  

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powers with respect to such Stock, and (b) all other documentation, including one or more opinions of counsel satisfactory to Agent, which in its
opinion are appropriate with respect to the execution and delivery of such stock pledge agreements; provided, that only 65% of the total outstanding voting capital Stock issued by any such Material Foreign Subsidiary shall be required to be pledged
if hypothecating a greater amount would, based on the projections of the Loan Parties, result in material adverse tax consequences to Parent and its Subsidiaries, taken as a whole.” 
 3.10 Amendments to Section 6.3. Clause (a) of Section 6.3 of the Credit Agreement is hereby
amended and restated in its entirety to read as follows: 
 “(a) Except for the Merger and the Permitted Merger, enter
into any merger, consolidation, reorganization, or recapitalization, or reclassify its Stock,” 
 3.11 Amendments to
Section 6.5. Section 6.5 is hereby amended by inserting the phrase “or within 30 days of the Second Amendment Effective Date, in connection with the Linotype Acquisition Transaction, change German Holdings’
name to Monotype Imaging Germany GmbH” immediately after the term “Merger” in such section. 
 3.12 Amendments to
Section 6.7. Clause (c) of Section 6.7 of the Credit Agreement is hereby amended by deleting subclause (iii) thereof and substituting in lieu thereof “(iii) any of the Acquisition
Documents, the China Type Acquisition Documents or the Linotype Acquisition Documents,” 
 3.13 Amendments to
Section 6.14. Section 6.14(a) of the Credit Agreement is hereby amended by deleting the phrase “and (b) thereafter, consistent with the terms and conditions hereof, to finance ongoing working capital,
capital expenditures, and general corporate needs of Parent and Borrowers following the Acquisition Transaction and the Merger and for its lawful and permitted purposes.” and substituting in lieu thereof the following: 
 “(b) on the Second Amendment Effective Date, to (i) finance the Linotype Acquisition Transaction and (ii) pay transactional
fees, costs, and expenses incurred in connection with the Linotype Acquisition Documents, and the transactions contemplated thereby, and (c) thereafter, consistent with the terms and conditions hereof, to finance ongoing working capital,
capital expenditures, and general corporate needs of Parent and Borrowers following the Acquisition Transaction, the Merger and the Linotype Acquisition Transaction, and for its lawful and permitted purposes.” 
 3.14 Amendments to Section 6.16. Section 6.16 of the Credit Agreement is hereby amended and restated in its
entirety to read as follows: 
 “6.16 Financial Covenants. 
 (a) Fail to maintain or achieve: 
 (i) Minimum TTM EBITDA. TTM EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto: 
  

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	Applicable Amount	  	 Applicable Period

	$31,000,000	  	 For the 12 month period ending June 30, 2006

	$39,500,000	  	 For the 12 month period ending September 30, 2006

	$39,500,000	  	 For the 12 month period ending December 31, 2006

	$40,000,000	  	 For the 12 month period ending March 31, 2007

	$40,000,000	  	 For the 12 month period ending June 30, 2007

	$41,000,000	  	 For the 12 month period ending September 30, 2007

	$41,000,000	  	 For the 12 month period ending December 31, 2007

	$42,000,000	  	 For the 12 month period ending March 31, 2008

	$42,000,000	  	 For the 12 month period ending June 30, 2008

	$42,000,000	  	 For the 12 month period ending September 30, 2008

	$42,000,000	  	 For the 12 month period ending December 31, 2008

	$43,000,000	  	 For the 12 month period ending March 31, 2009

	$43,000,000	  	 For the 12 month period ending June 30, 2009

	$43,000,000	  	 For the 12 month period ending September 30, 2009

	$43,000,000	  	 For the 12 month period ending December 31, 2009

	$43,000,000	  	 For the 12 month period ending each quarter thereafter

 (ii) Fixed Charge Coverage Ratio. A Fixed Charge Coverage Ratio,
measured on a quarter-end basis, of at least the required ratio set forth in the following table for the applicable period set forth opposite thereto: 
  

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	Applicable Ratio	  	 Applicable Period

	1.0:1.0	  	 For the 12 month period ending June 30, 2006

	1.0:1.0	  	 For the 12 month period ending each quarter thereafter

 (b) Leverage Ratio. Permit the Leverage Ratio, as at the end of each
period set forth below, to exceed the required ratio set forth in the following table for the applicable period: 
  

			
	Applicable Ratio	  	 Applicable Period

	4.50:1.00	  	 For the 12 month period ending June 30, 2006

	5.25:1.00	  	 For the 12 month period ending September 30, 2006

	5.20:1.00	  	 For the 12 month period ending December 31, 2006

	5.10:1.00	  	 For the 12 month period ending March 31, 2007

	5.00:1.00	  	 For the 12 month period ending June 30, 2007

	4.85:1.00	  	 For the 12 month period ending September 30, 2007

	4.65:1.00	  	 For the 12 month period ending December 31, 2007

	4.60:1.00	  	 For the 12 month period ending March 31, 2008

	4.50:1.00	  	 For the 12 month period ending June 30, 2008

	4.35:1.00	  	 For the 12 month period ending September 30, 2008

	4.15:1.00	  	 For the 12 month period ending December 31, 2008

	4.00:1.00	  	 For the 12 month period ending March 31, 2009

  

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	Applicable Ratio	  	 Applicable Period

	3.85:1.00	  	 For the 12 month period ending June 30, 2009

	3.65:1.00	  	 For the 12 month period ending September 30, 2009

	3.40:1.00	  	 For the 12 month period ending December 31, 2009

	3.25:1.00	  	 For the 12 month period ending each quarter thereafter

 (c) Capital Expenditures. Make Capital Expenditures in any fiscal
year in excess of the amount set forth in the following table for the applicable period: 
  

			
	Applicable Amount	  	 Applicable Period

	$2,000,000	  	 Fiscal Year 2006

	$2,000,000	  	 Fiscal Year 2007

	$2,000,000	  	 Fiscal Year 2008

	$2,000,000	  	 Fiscal Year 2009”

 3.15 Amendments to Section 14.1(j). Section 14.1(j) of the Credit
Agreement is hereby amended and restated in its entirety to read as follows: 
 (j) change the definition of “Original
Term Loan Amount”, Additional Term Loan Amount”, or “Second Additional Term Loan Amount”, or 
 3.16 Amendments to
Section 15.1. Section 15.1 of the Credit Agreement is hereby amended by inserting the following new sentences at the end of Section 15.1: 
 “Each Lender hereby authorizes the Agent to act on its behalf and in its name and to represent it in any way whatsoever in connection
with the preparation, execution and delivery of each German Security Document and the perfection and monitoring of each security interest granted under any German Security Document (a “German Security Interest”), including but not
limited to, any pledge agreement with respect to shares in a German company in notarial form, as well as any other pledge, mortgage, assignment or transfer of title for security purposes. This power of attorney includes the power to enter into and
agree to the terms of, and any amendments to, any agreements which are necessary or desirable in this context, the power to make and 

  

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receive any and all declarations and to perform any and all actions which are necessary or appropriate in this context, whether in private written form
(private Schriftform) or in notarial form. Each Lender hereby approves (genehmigt) all declarations the Agent has made in connection with the preparation, execution and delivery of each German Security Document as well as the
perfection and monitoring of each German Security Interest. The Agent shall have the sole power of attorney and shall be released from the restrictions of self-dealing according to Section 181 of the German Civil Code (BGB) and shall be
authorized to delegate this power of attorney, including the release from the restrictions of Section 181 of the German Civil Code. The Agent shall (i) hold such German Security Interest, if any, which is transferred or assigned by way of
security (Sicherungsübereignung/ Sicherungsabtretung) or otherwise granted under a non-accessory security right (nicht akzessorische Sicherheit) as trustee (Treuhänder) for the benefit of the Lenders; and
(ii) administer in the name and on behalf of the Lenders such German Security Interest which is pledged (Verpfändung) or otherwise transferred under an accessory security right (akzessorische Sicherheit) to the Lenders.”

 3.17 Amendments to Table of Contents. 
 (a) The Table of Contents is hereby amended by deleting the words “Intentionally Omitted” opposite Index Number 3.2
therein and inserting in lieu thereof the following: “Conditions Precedent to the Second Additional Term Loan”. 
 (b) The table of Exhibits and Schedules is hereby amended by deleting the text “Schedule 3-1 Conditions Precedent” therein and inserting in lieu thereof the following: 
 “Schedule 3.1 Conditions Precedent (Original Term Loan) 
   Schedule 3.2 Conditions Precedent (Second Additional Term Loan)”. 
 3.18 Amendments to Schedule C-1. Schedule C-1 to the Credit Agreement is hereby amended by deleting such Schedule in its entirety
and inserting in lieu thereof the Schedule attached thereto as Exhibit C. 
 3.19 Amendments to Schedule 1.1.
Schedule 1.1 to the Credit Agreement is hereby amended as follows: 
 (a) The following additional definitions shall be
inserted in Schedule 1.1 to the Credit Agreement in proper alphabetical order: 
 “‘China Type Acquisition
Documents’ means the China Type Stock Purchase Agreement and the other documents, instruments and agreements executed and delivered in connection with the China Type Acquisition Transaction.” 
 “‘China Type Acquisition Transaction’ means the acquisition of the Stock of the Hong Kong Subsidiary pursuant to the
terms of the China Type Stock Purchase Agreement.” 
 “‘China Type Shareholders’ means those
certain shareholders of the Hong Kong Subsidiary.” 
  

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 “‘China Type Stock Purchase Agreement’ means that certain Stock
Purchase Agreement dated on or about July 31, 2006, by and between the Administrative Borrower and the shareholders of the Hong Kong Subsidiary party thereto.” 
 “‘Foreign Subsidiary’ means, individually and collectively, the German Subsidiaries, the Hong Kong Subsidiary, the
Japanese Subsidiary, the UK Subsidiary, or any other Subsidiary of the Parent that is not organized under the laws of the United States or any State thereof.” 
 “‘German Holdings’ means Blitz 06-683 GmbH, a German limited liability company.” 
 “‘German Security Documents’ means the notarial share pledge agreement for all existing and future shares in German
Holdings in favor of the Administrative Agent and the Lenders, as pledgees.” 
 “‘German Security
Interest’ has the meaning specified therefore in Section 15.1.” 
 “‘German
Subsidiaries’ means German Holdings and Linotype.” 
 “‘Hong Kong Subsidiary’ means China
Type Design Limited, a limited liability company organized under the laws of Hong Kong.” 
 “‘Linotype’ means Linotype GmbH, a limited liability company organized under the laws of Germany.” 
 “‘Linotype Acquisition Documents’ means the Linotype Purchase Agreement and the other documents, instruments and agreements executed and delivered in connection with the Linotype Acquisition
Transaction.” 
 “‘Linotype Acquisition Transaction’ means the acquisition of the US Linotype
Assets and the Linotype Stock pursuant to the terms of the Linotype Purchase Agreement.” 
 “‘Linotype
Purchase Agreement’ means that certain Share Purchase Agreement, dated August 1, 2006, by and between Parent, German Holdings and the Linotype Seller.” 
 “‘Linotype Seller’ means Heidelberger Druckmaschinen Aktiengesellschaft, Kurfürsten-Anlage 52-60, 69115
Heidelberg.” 
 “‘Linotype Stock’ means the Stock of Linotype, as further described in the Linotype
Purchase Agreement.” 
 “‘Material Foreign Subsidiary’ means, as of any date of determination, any
Foreign Subsidiary that (i) has generated revenues in excess of $4,000,000 during the immediately preceding 12 consecutive month period, or (ii) has assets having an aggregate book value in excess of $4,000,000.” 
  

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 “‘Permitted Merger’ means the merger of Linotype with and into
German Holdings with German Holdings as the surviving entity, provided that (a) no other provision of this Agreement would be violated thereby, (b) Borrowers give Agent at least 30 days’ prior written notice of such merger,
(c) no Default or Event of Default shall have occurred and be continuing either before or after giving effect to such transaction, (d) Agent’s and Lenders’ rights in any Collateral, including, without limitation, the existence,
perfection and priority of any Lien thereon, are not adversely affected by such merger, and (e) the capital Stock of the surviving entity of such merger continues to be the subject of the German Security Documents after giving effect to
such merger.” 
 “‘Second Additional Term Loan’ has the meaning specified therefor in
Section 2.1.” 
 “‘Second Additional Term Loan Amount’ means an amount equal to
$5,000,000.” 
 “‘Second Additional Term Loan Commitment’ means, with respect to each Lender, its
Second Additional Term Loan Commitment, and with respect to all Lenders, their Second Additional Term Loan Commitments, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on Schedule C-1 or
in the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with the provisions of Section 13.1. 

“‘Second Amendment’ means that certain Second Amendment to, and Consent and Waiver Under, Credit Agreement and
Security Agreement, dated as of July 28, 2006, by and among the Loan Parties, the Lenders and the Agent.” 
 “‘Second Amendment Effective Date’ means the date that Section 3 of the Second Amendment becomes effective in accordance with Section 6 thereof.” 
 “‘US Linotype Assets’ means the assets acquired from the Linotype Seller pursuant to the terms of the Linotype
Purchase Agreement as set forth on Exhibit F hereto.” 
 “‘WFF Second Amendment’ means that
certain Second Amendment to, and Consent and Waiver Under, Credit Agreement, dated as of July 28, 2006, by and among the Loan Parties, the WFF Lenders and the WFF Agent.” 
  

 - 14 - 

 (b) The definition of “Base LIBOR Rate” is hereby amended by deleting
the phrase “1.60%” in the last sentence thereof and substituting in lieu thereof the phrase “4.00%”. 
 (c) The definition of “Base Rate” is hereby amended by deleting the phrase “4.75%” in the last sentence thereof and substituting in lieu thereof the phrase “7.25%”. 
 (d) The definition of “Base Rate Margin” is hereby amended and restated in its entirety to read as follows: 

“‘Base Rate Margin’ means 5.50 percentage points.” 
 (e) The definition of “Commitment” is hereby amended and restated in its entirety to read as follows: 
 “‘Commitment’ means, with respect to each Lender, its Commitment, and, with respect to all Lenders, their
Commitments, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on Schedule C-1 (as may be updated from time to time by the Agent) or in the Assignment and Acceptance pursuant to
which such Lender became a Lender hereunder, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with the provisions of Section 13.1.” 
 (f) The definition of “Facility Limiter Amount” is hereby amended and restated in its entirety to read as follows:

 “‘Facility Limiter Amount’ means, as of any date of determination, (a) during the period from
and after the Second Amendment Effective Date up to and including December 31, 2006, the product of 5.25 times the TTM EBITDA and (b) thereafter, the product of 4.75 times the TTM EBITDA, in each case, as determined based on
the most recent quarterly financial statements delivered to Agent pursuant to Section 5.3.” 
 (g) The
definition of “LIBOR Rate Margin” is hereby amended and restated in its entirety to read as follows: 
 “‘LIBOR Rate Margin’ means 6.75 percentage points.” 
 (h) The definition of “Loan
Documents” is hereby amended by deleting the phrase “the Fee Letter, the Guaranty” therein and substituting in lieu thereof the phrase “the Fee Letter, the German Security Documents, the Guaranty”. 
 (i) The definition of “Permitted Investments” is hereby amended as follows: 
 (i) Clause (f) is hereby amended and restated in its entirety to read as follows: 
 “(f) Investments by the Loan Parties in the Foreign Subsidiaries in an aggregate amount during any fiscal quarter period not in
excess of $400,000; provided that (i) no Default or Event of Default shall have occurred and be continuing, both before and immediately after giving effect to any such Investment, and (ii) the sum of WFF Excess Availability plus
Qualified Cash equals or exceeds $2,000,000, both before and immediately after giving effect to any such Investment,” 
  

 - 15 - 

 (ii) Existing clause (g) is hereby renumbered as new clause “(h)” and the
new clause “(g)” in inserted as follows: 
 “(g) Investments by Parent in German Holdings and Linotype in the
form of an intercompany loan to be made as of the date of the making of the Second Additional Term Loan, in an aggregate principal amount not to exceed $31,000,000, in connection with the Linotype Acquisition Transaction; and” 
 (j) The definition of “Term Loan” is hereby amended and restated in its entirety to read as follows: 
 “‘Term Loan’ means, (a) from and after the Closing Date up to (but not including) the First Amendment Effective
Date, the Original Term Loan, (b) from and after the First Amendment Effective Date up to (but not including) the Second Amendment Effective Date, collectively, the Original Term Loan and the Additional Term Loan, and (c) thereafter,
collectively, the Original Term Loan, the Additional Term Loan, and the Second Additional Term Loan.” 
 (k) The
definition of “WFF Maximum Revolver Amount” is hereby amended and restated in its entirety to read as follows: 
 “‘WFF Maximum Revolver Amount’ means the Maximum Revolver Amount as such term is defined in the WFF Credit Agreement, as such is in effect on the Second Amendment Effective Date.” 
 (l) The definition of “WFF Revolver Commitment” is hereby amended and restated in its entirety to read as follows:

 “‘WFF Revolver Commitment’ means the Revolver Commitment as such term is defined in the WFF Credit
Agreement, as such is in effect on the Second Amendment Effective Date.” 
 (m) The definition of “WFF Term
Loan” is hereby amended and restated in its entirety to read as follows: 
 “‘WFF Term Loan’
means the Term Loan as such term is defined in the WFF Credit Agreement, as such is in effect on the Second Amendment Effective Date.” 
  

 - 16 - 

 3.20 Amendments to Schedules to Credit Agreement. Each of Schedules M-1, 4.5, 4.7(A),
4.7(B), 4.7(C), 4.8(B) and 4.8(C) to the Credit Agreement is hereby amended by deleting such Schedule in its entirety and inserting in lieu thereof the Schedules attached hereto as Exhibit D. 
 3.21 New Schedule 3.2. A new Schedule 3.2 to the Credit Agreement is hereby added to the Credit Agreement following Schedule 3.1 in
the form attached hereto as Exhibit G. 
 3.22 Amendments to Schedule 5.3. Clause (o) of Schedule 5.3 to the Credit
Agreement is hereby amended and restated in its entirety to read as follows: 
  

	 	“(o)	copies of any notices of default or non-compliance delivered by or to any Loan Party in connection with the Acquisition Documents, the China Type Acquisition Documents or the
Linotype Acquisition Documents (in each case, to the extent not previously delivered pursuant to Section 5.17(c)), and” 

 Section 4. Amendments to Security Agreement. Each of Schedules 1, 2 and 3 to the Security Agreement are hereby amended and restated as of the date this Second Amendment
becomes effective in accordance with Section 6 hereof by deleting them in their entirety and inserting in lieu thereof Schedules 1, 2 and 3 to the Security Agreement attached hereto as Exhibit E. 

Section 5. Representations and Warranties. In order to induce Agent and the Lenders to enter into this Second Amendment, Parent and
Borrowers hereby represent and warrant that: 
 5.01 No Default. At and as of the date of this Second Amendment, and
both prior to and after giving effect to this Second Amendment, no Default or Event of Default exists. 
 5.02 Representations and
Warranties True and Correct. At and as of the date of this Second Amendment and at and as of the Effective Date and after giving effect to this Second Amendment, each of the representations and warranties contained in the Credit
Agreement and the other Loan Documents is true and correct in all material respects (except to the extent that such representations and warranties relate solely to an earlier date). 
 5.03 Corporate Power, Etc. Parent and each Borrower (a) has all requisite corporate power and authority to execute and deliver
this Second Amendment and to consummate the transactions contemplated hereby and (b) has taken all action, corporate or otherwise, necessary to authorize the execution and delivery of this Second Amendment. Parent and each Borrower is entering
into this Second Amendment in accordance with Section 14.1 of the Credit Agreement. 
 5.04 No Conflict. The
execution, delivery and performance by Parent and each Borrower of this Second Amendment will not (a) violate any provision of federal, state, or local law or regulation applicable to Parent or any Borrower, the Governing Documents of Parent or
any Borrower, or any order, judgment, or decree of any court or other Governmental Authority binding on Parent or any Borrower, (b) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under
any material contractual obligation of Parent or any Borrower, (c) result in or require the creation or imposition of any Lien of any nature 

  

 - 17 - 

 
whatsoever upon any properties or assets of Parent or any Borrower, other than Permitted Liens, or (d) require any unobtained approval of Parent’s
or any Borrower’s interestholders or any unobtained approval or consent of any Person under any material contractual obligation of Parent or any Borrower. 
 5.05 Binding Effect. This Second Amendment has been duly executed and delivered by Parent and each Borrower and constitutes the legal, valid and binding obligation of Parent and each Borrower,
enforceable against Parent and each Borrower in accordance with its terms, except as such enforceability may be limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect,
relating to or affecting the enforcement of creditors’ rights generally, and (b) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
 Section 6. Conditions. This Second Amendment shall be effective as of July 28, 2006 (the “Effective Date”)
upon the fulfillment by Parent and each Borrower, in a manner reasonably satisfactory to the Agent and the Lenders, of all of the following conditions precedent set forth in this Section 6 (provided, that notwithstanding the foregoing,
Section 3 and Section 4 of this Second Amendment shall not become effective until the Linotype Acquisition is consummated in accordance with the Linotype Purchase Agreement in the form of Exhibit B hereto): 

6.01 Execution of the Second Amendment. Each of the required parties hereto shall have executed an original counterpart of this
Second Amendment and shall have delivered (including by way of facsimile transmission or other electronic transmission) the same to Agent. 
 6.02 Fees. Borrowers shall have paid to Agent (a) an amendment fee of $325,000 and (b) all other fees then due and owing pursuant to the Fee Letter. 
 6.03 Representations and Warranties. As of the Effective Date, the representations and warranties set forth in Section 5
hereof shall be true and correct. 
 6.04 Compliance with Terms. Parent and each Borrower shall have complied in all
respects with the terms hereof and of any other agreement, document, instrument or other writing to be delivered by Parent or any Borrower in connection herewith. 
 6.05 WFF Second Amendment. Substantially simultaneously with the execution hereof, Parent, each Borrower, WFF, as the administrative agent under the WFF Credit Agreement, and the Lenders (as
defined in the WFF Credit Agreement) shall have executed a substantially similar amendment under the WFF Credit Agreement, and furnished evidence thereof to Agent. 
 6.06 Delivery of Other Documents. Agent shall have received all such instruments, documents and agreements as the Agent may reasonably request, in form and substance reasonably satisfactory to the
Agent. 
  

 - 18 - 

 Section 7. Miscellaneous. 
 7.01 Continuing Effect. Except as specifically provided herein, the Credit Agreement and the other Loan Documents shall remain in
full force and effect in accordance with their respective terms and are hereby ratified and confirmed in all respects. It is understood and agreed by the parties hereto that this Second Amendment constitutes a Loan Document. Accordingly, it shall be
an Event of Default under the Credit Agreement if (a) any representation or warranty made by Parent or any Borrower under or in connection with this Second Amendment shall have been untrue in any material respect when made, or (b) Parent
or any Borrower shall fail to perform or observe any term, covenant or agreement contained in this Second Amendment, in each case, after giving effect to any applicable grace period under the Credit Agreement. 
 7.02 No Waiver; Reservation of Rights. This Second Amendment is limited as specified and the execution, delivery and effectiveness
of this Second Amendment shall not operate as a modification, acceptance or waiver of any provision of the Credit Agreement or any other Loan Document, except as specifically set forth herein. Notwithstanding anything contained in this Second
Amendment to the contrary, Agent and the Lenders expressly reserve the right to exercise any and all of their rights and remedies under the Credit Agreement, any other Loan Document and applicable law in respect of any Default or Event of Default.

 7.03 Governing Law. THIS CONSENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK. 
 7.04 Severability. The provisions of this Second Amendment are severable, and if any clause or provision shall
be held invalid or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect only such clause or provision, or part thereof, in such jurisdiction and shall not in any manner affect such clause or
provision in any other jurisdiction, or any other clause or provision in this Second Amendment in any jurisdiction. 
 7.05
Counterparts. This Second Amendment may be executed in any number of counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.
Delivery of an executed counterpart of this Second Amendment by telefacsimile or other electronic transmission shall be equally effective as delivery of a manually executed counterpart. A complete set of counterparts shall be lodged with each of
Administrative Borrower and Agent. 
 7.06 Headings. Section headings in this Second Amendment are included herein for
convenience of reference only and shall not constitute a part of this Second Amendment for any other purpose. 
 7.07 Binding Effect;
Assignment. This Second Amendment shall be binding upon and inure to the benefit of Parent, Borrowers, the Lenders and Agent and their respective successors and assigns; provided, however, that the rights and obligations
of Parent and Borrowers under this Second Amendment shall not be assigned or delegated without the prior written consent of Agent. 
 7.08
Expenses. Borrowers agree to pay Agent upon demand for all reasonable expenses, including reasonable fees of attorneys and paralegals for Agent (who may be employees of Agent), incurred by Agent in connection with the preparation,
negotiation and execution of this Second Amendment and any document required to be furnished herewith. 
  

 - 19 - 

 7.09 Integration. This Second Amendment, together with the other Loan Documents,
incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof. 
 [Signature pages follow] 
  

 - 20 - 

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

			
	 MONOTYPE IMAGING HOLDINGS CORP.,
 as
Parent

		
	By:	 	/s/ Robert M. Givens
		 	Name:  Robert M. Givens
		 	Title:    President
	
	 MONOTYPE IMAGING, INC.,
 as a
Borrower

		
	By:	 	/s/ Robert M. Givens
		 	Name:  Robert M. Givens
		 	Title:    President
	
	 INTERNATIONAL TYPEFACE CORPORATION,
 as a Borrower

		
	By:	 	/s/ Robert M. Givens
		 	Name:  Robert M. Givens
		 	Title:    President

 [SIGNATURE PAGE TO SECOND AMENDMENT] 

			
	D.B. ZWIRN SPECIAL OPPORTUNITIES FUND, L.P., as Agent and a Lender
		
	By:	 	 D.B. Zwirn Partners, LLC,
 its General
Partner

		
	By:	 	 Zwirn Holdings, LLC,
 its Managing
Member

		
	By:	 	/s/ Perry A. Gruss
		 	Name: Perry A. Gruss
		 	Title: Authorized Signatory

 [SIGNATURE PAGE TO SECOND AMENDMENT] 

			
	BERNARD NATIONAL LOAN INVESTORS, LTD, as a Lender
		
	By:	 	Bernard Capital Funding, LLC, its Investment Advisor
		
	By:	 	/s/ Perry A. Gruss
		 	Name: Perry A. Gruss
		 	Title: Authorized Signatory

 [SIGNATURE PAGE TO SECOND AMENDMENT] 

			
	ACM, LLC, as a Lender
		
	By:	 	Atalaya Capital Management LP
		 	
		
	By:	 	/s/ Ivan Q. Zinn
		 	Name: Ivan Q. Zinn
		 	Title: Authorized Signatory

 [SIGNATURE PAGE TO SECOND AMENDMENT] 

			
	 HBK MASTER FUND L.P., 
 as a
Lender

		
	By:	 	HBK Investments L.P., its Investment Advisor
		 	
		
	By:	 	/s/ David C. Haley
		 	Name: David C. Haley
		 	Title: Authorized Signatory

 [SIGNATURE PAGE TO SECOND AMENDMENT] 

 EXHIBIT C 
 Schedule C-1 
 Commitments 
  

													
	 Lender
	  	Original Term
Loan
Commitment	  	Additional Term
Loan
Commitment	  	Second
Additional Term
Loan
Commitment	  	Total
	 D.B. Zwirn Special Opportunities Fund, L.P.
	  	$	0	  	$	0	  	$	0	  	$	0
	 Bernard National Loan Investors, Ltd.
	  	$	5,200,000	  	$	9,500,000	  	 	2,650,000	  	$	17,350,000
	 Bernard Global Loan Investors, Ltd.
	  	$	16,000,000	  	$	3,750,000	  	$	0	  	$	19,750,000
	 ACM, LLC
	  	$	8,000,000	  	$	5,000,000	  	 	1,000,000	  	$	14,000,000
	 HBK Master Fund, L.P.
	  	$	10,800,000	  	$	6,750,000	  	 	1,350,000	  	$	18,900,000
	 TOTAL
	  	$	40,000,000	  	$	25,000,000	  	$	5,000,000	  	$	70,000,000

 Exhibit G  
 Schedule 3.2 
 The obligation of each Lender to make its Second Additional Term Loan is
subject to the fulfillment, to the satisfaction of Agent and each Lender (the making of such extension of credit by any Lender being conclusively deemed to be its satisfaction or waiver of the following), of each of the following conditions
precedent: 
 (a) the Second Amendment Effective Date shall occur on or before August 1, 2006; 
 (b) Agent shall have received each of the following documents, in form and substance satisfactory to Agent, duly executed, and each such document shall
be in full force and effect: 
  

	 	(i)	a Copyright Security Agreement, duly executed by Parent, 

  

	 	(ii)	a disbursement letter executed and delivered by Parent and Borrowers to Agent regarding the extensions of credit to be made on the Second Amendment Effective Date,

  

	 	(iii)	an amendment to the Fee Letter, duly executed by Parent and Borrowers, 

  

	 	(iv)	the German Security Documents, duly executed by Parent, German Holdings and Linotype, as applicable, 

  

	 	(v)	a Patent Security Agreement, duly executed by Parent, 

  

	 	(vi)	a reaffirmation agreement, duly executed by each Loan Party, 

  

	 	(vii)	a Pledge Addendum (as defined in the Security Agreement), duly executed by Parent and German Holdings, 

  

	 	(viii)	a Trademark Security Agreement, duly executed by Parent, and 

  

	 	(ix)	an amendment to the D.B. Zwirn and WFF Intercreditor Agreement. 

 (c) Substantially simultaneously with the extensions of credit by the Lenders to the Borrowers on the Second Amendment Effective Date, Parent and Borrowers shall have consummated all transactions contemplated by the Linotype Acquisition
Documents and the WFF Second Amendment and furnished evidence thereof to Agent. Parent and Borrowers shall have delivered a certificate (dated as of the Second Amendment Effective Date) of an Authorized Person attaching true and correct copies of
the Linotype Acquisition Documents and the WFF Second Amendment. Such certificate of the Authorized Person shall certify that the attached 

 
documents are true and correct copies of the Linotype Acquisition Documents and the WFF Second Amendment and that such documents have been entered into by
the Loan Parties in compliance with all applicable laws and all necessary approvals and are in full force and effect; 
 (d) Agent shall have
received a certificate from the Secretary of Administrative Borrower attesting that there exists no (i) litigation, investigation or proceeding (judicial or administrative) pending or, to the best knowledge of Administrative Borrower,
threatened, against any Loan Party, or any of its Subsidiaries by any Governmental Authority arising out of the transactions contemplated by or effected in connection with the Linotype Acquisition Documents or the WFF Second Amendment,
(ii) injunction, writ or restraining order restraining or prohibiting the transactions contemplated by the Linotype Acquisition Documents or the consummation of the financing arrangements contemplated under the Second Amendment, or
(iii) suit, action, investigation, proceeding (judicial or administrative) or ERISA Event pending or, to the best knowledge of Administrative Borrower, threatened against any Loan Party or any of its Subsidiaries which could reasonably be
expected to result in a Material Adverse Change; 
 (e) All director, stockholder, and material governmental and third party consents and
approvals necessary in connection with each aspect of the Linotype Acquisition and the transactions contemplated by the Second Amendment shall have been obtained or waived by Agent (without the imposition of any conditions that are not acceptable to
Agent) and shall remain in effect; all applicable waiting periods shall have expired without any adverse action being taken by any competent authority; and no law or regulation shall be applicable in the judgment of Agent that restrains, prevents or
imposes material adverse conditions upon any aspect of the Linotype Acquisition or transactions contemplated by the Second Amendment; 
 (f)
Agent shall have received a certificate from the Secretary of each Loan Party (i) attesting to the resolutions of such Loan Party’s Board of Directors authorizing its execution, delivery, and performance of the Second Amendment, and the
Credit Agreement and the other Loan Documents as amended thereby, (ii) authorizing specific officers of such Loan Party to execute the same, and (iii) attesting to the incumbency and signatures of such specific officers of such Loan Party;

 (g) Agent shall have received copies of each Loan Party’s Governing Documents, as amended, modified, or supplemented to the Second
Amendment Effective Date, certified by the Secretary of such Loan Party; 
 (h) Agent shall have received a certificate of status with
respect to each Loan Party, dated within 10 days of the Second Amendment Effective Date, such certificate to be issued by the appropriate officer of the jurisdiction of organization of such Loan Party, which certificate shall indicate that such Loan
Party is in good standing in such jurisdiction; 
 (i) Agent shall have received opinions of Loan Parties’ U.S. and German counsel, and
Agent’s German counsel, in each case, in form and substance reasonably satisfactory to Agent; 

 (j) Borrowers shall have Required Availability after giving effect to the extensions of credit hereunder
and under the WFF Credit Agreement as contemplated by the Second Amendment and the payment of all fees and expenses required to be paid by Borrowers on the Second Amendment Effective Date under the Second Amendment, the other Loan Documents, the WFF
Loan Documents, the Linotype Acquisition Documents and the China Type Acquisition Documents, and Agent shall have received reasonably satisfactory evidence thereof; 
 (k) Borrowers shall have paid all Lender Group Expenses incurred in connection with the transactions contemplated by the Second Amendment and for which reasonably detailed invoices have been received prior to the
Second Amendment Effective Date; 
 (l) Agent and its counsel shall be reasonably satisfied with the corporate structure of Parent and its
Subsidiaries following the Linotype Acquisition and the China Type Acquisition; 
 (m) Parent, Borrowers and each of their respective
Subsidiaries shall have received all material licenses, approvals or evidence of other actions required by any Governmental Authority in connection with the execution and delivery by Parent, Borrowers or their respective Subsidiaries of the Linotype
Acquisition Documents or with the consummation of the transactions contemplated thereby that are required by law to be held or received; 
 (n) Administrative Borrower shall have delivered to Agent updates, as applicable, to (a) Schedules M-1, 4.5, 4.7(A), 4.7(B), 4.7(C), 4.8(B) and 4.8(C) of the Credit Agreement and (b) Schedules 1, 2, and 3 of the Security
Agreement, each in form and substance satisfactory to Agent; and 
 (o) all other documents and legal matters in connection with the
transactions contemplated by the Agreement shall have been delivered, executed, or recorded and shall be in form and substance reasonably satisfactory to Agent.Intercreditor Agreement

 Exhibit 10.39 
 EXECUTION COPY 
 INTERCREDITOR AGREEMENT 
 This INTERCREDITOR AGREEMENT (this “Agreement”), dated as of November 5, 2004, is made by and between WELLS FARGO
FOOTHILL, INC., a California corporation, as agent under and pursuant to the Senior Credit Agreement (as hereinafter defined) (in such capacity, together with its successors and assigns, the “Original Senior Agent”), and D.B.
ZWIRN SPECIAL OPPORTUNITIES FUND, L.P., a Delaware limited partnership, as agent under and pursuant to the Junior Credit Agreement (as hereinafter defined) (in such capacity, together with its successors and assigns, the “Original Junior
Agent”), and is acknowledged by MONOTYPE IMAGING HOLDINGS CORP., a Delaware corporation (“Parent”), IMAGING ACQUISITION CORPORATION, a Delaware corporation, AGFA MONOTYPE CORPORATION, a Delaware
corporation, and INTERNATIONAL TYPEFACE CORPORATION, a New York corporation: 
 WHEREAS, Parent, the Borrowers, the Original
Senior Agent, and the lenders party thereto have entered into a Credit Agreement dated as of the date hereof (such agreement as in effect on the date hereof, the “Original Senior Credit Agreement”) pursuant to which such lenders
have agreed, upon the terms and conditions stated therein, to make loans and advances to and to issue letters of credit (or guarantees or other undertakings in respect thereof) for the account of the Borrowers up to the principal amount of
$80,000,000 at any time outstanding. The repayment of the Obligations (as that term is defined in the Original Senior Credit Agreement) is secured by security interests in and liens on substantially all of the assets of the Borrowers and the
Guarantors pursuant to certain collateral documents in favor of the Original Senior Agent, which documents, together with the other collateral and loan documents executed and delivered in connection with the Original Senior Credit Agreement, each as
in effect on the date hereof, are referred to herein as the “Original Senior Loan Documents”; 
 WHEREAS, Parent, the
Borrowers, the Original Junior Agent, and the lenders party thereto have entered into a Credit Agreement dated as of the date hereof (such agreement as in effect on the date hereof, the “Original Junior Credit Agreement”) pursuant
to which such lenders have agreed, upon the terms and conditions stated therein, to make loans and advances to the Borrowers up to the principal amount of $40,000,000 at any time outstanding. The repayment of the Obligations (as that term is defined
in the Original Junior Credit Agreement) is secured by security interests in and liens on substantially all of the assets of the Borrowers and the Guarantors pursuant to certain collateral documents in favor of the Original Junior Agent, which
documents, together with the other collateral and loan documents executed and delivered in connection with the Original Junior Credit Agreement, each as in effect on the date hereof, are referred to herein as the “Original Junior Loan
Documents”; and 
 WHEREAS, the Original Senior Agent, for and on behalf of itself and the Senior Lenders, and the Original
Junior Agent, for and on behalf of itself and the Junior Lenders, wish to enter into this Agreement to establish their respective rights and priorities in the Collateral and their claims against the Borrowers and the Guarantors. 

 NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which is hereby
acknowledged, the Original Senior Agent and the Original Junior Agent hereby agree as follows: 
 1. Definitions; Rules of
Construction. 
 a. Terms Defined Above and in the Recitals. As used in this Agreement, the following terms shall
have the respective meanings indicated in the opening paragraph hereof and in the above Recitals: 
 “Agreement” 
 “Original Junior Agent” 
 “Original Junior Credit Agreement” 
 “Original Junior Loan Documents” 
 “Original Senior Agent” 
 “Original Senior Credit Agreement” 
 “Original Senior Loan
Documents” 
 “Parent” 
 b. Other Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 “Adequate Protection Lien” has the meaning set forth in Section 5.d. 
 “Agent” means Senior Agent and/or Junior Agent, as the context may require. 
 “Application of Proceeds Blockage Event” has the meaning set forth in Section 4.a. 
 “Application of Proceeds Blockage Period” has the meaning set forth in Section 4.a. 
 “Bank Product Obligations” has the meaning set forth in the Original Senior Credit Agreement. 
 “Bankruptcy Code” shall mean title 11 of the United States Code, as in effect from time to time. 
 “Capital Stock” means (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 a partnership or limited liability company, partnership or membership interests (whether
general or limited) and (d) 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 property of, the issuing Person. 
 “Cash Collateral” means any Collateral consisting of money or cash equivalents, any security entitlement (as defined in
the UCC) and any financial assets (as defined in the UCC). 
  

 - 2 - 

 “Collateral” means all assets and properties upon which either Senior
Agent or Junior Agent now has or hereafter acquires a Lien, whether now owned or hereafter acquired by the Borrowers, any Guarantor or any other Person, together with all rents, issues, profits, products, and Proceeds thereof. 
 “Control Collateral” means any Collateral consisting of a certificated security (as defined in the UCC), investment
property (as defined in the UCC), a deposit account (as defined in the UCC) and any other Collateral as to which a Lien may be perfected through physical possession or control by the secured party or any agent therefor. 
 “DIP Financing” has the meaning set forth in Section 5.d. 
 “Discharge of Junior Indebtedness” means payment in full in cash of the Junior Indebtedness (other than Junior
Indebtedness consisting solely of contingent indemnification obligations under the Junior Loan Documents) after or concurrently with termination of all commitments to extend credit under any Junior Credit Agreement. 
 “Discharge of Senior Indebtedness” means payment in full in cash (or in the case of Bank Product Obligations, the cash
collateralization as required by the Original Senior Loan Documents) of the Senior Indebtedness (other than Senior Indebtedness consisting solely of contingent indemnification obligations under the Senior Loan Documents) after or concurrently with
termination of all commitments to extend credit under any Senior Credit Agreement. 
 “Equity Interests”
means Capital Stock and all warrants, options, or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Event of Default” means “Event of Default” as defined in the Senior Credit Agreement and/or “Event of
Default” as defined in the Junior Credit Agreement. 
 “Excluded Junior Indebtedness” means,
collectively, (a) any prepayment premium, make-whole obligation, or early termination fee payable pursuant to the terms of the Junior Credit Agreement, (b) any default interest (but not any other interest) or loan fees, each arising from
or related to a default and accruing or becoming due under the terms of the Junior Loan Documents on or after the commencement of any Insolvency Proceeding relating to any Obligor or any other Person to the extent that a claim for such default
interest or loan fees is not allowable or allowed in such Insolvency Proceeding, and (c) the aggregate outstanding principal amount of Protective Advances (as defined in the Original Junior Credit Agreement) made, issued or incurred pursuant to
the Junior Credit Agreement intentionally and with actual knowledge, at the time such Protective Advances were made, issued or incurred, that such Protective Advances would cause the total aggregate principal amount thereof, to exceed $5,000,000, at
such time. 
 “Excluded Senior Indebtedness” means, collectively, (a) the aggregate outstanding
principal amount of loans, letter of credit accommodations and Bank Product Obligations made, issued or incurred pursuant to the Senior Credit Agreement intentionally and with actual knowledge, at the time such loans, letter of credit accommodations
or Bank Product Obligations were made, issued or incurred, that such loans, letter of credit accommodations or 

  

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Bank Product Obligations would cause the total aggregate principal amount thereof, or any category thereof, to exceed the Maximum Priority Senior Loan
Amount, or any category thereof, at such time, (b) any prepayment premium, make-whole obligation, or early termination fee payable pursuant to the terms of the Senior Credit Agreement, and (c) any default interest (but not any other
interest) or loan fees, each arising from or related to a default and accruing or becoming due under the terms of the Senior Loan Documents on or after the commencement of any Insolvency Proceeding relating to any Obligor or any other Person to the
extent that a claim for such default interest or loan fees is not allowable or allowed in such Insolvency Proceeding. 
 “Exercise Any Secured Creditor Remedies” or “Exercise of Secured Creditor Remedies” means (a) the taking of any action to enforce or realize upon any Lien, including the institution of any foreclosure
proceedings or the noticing of any public or private sale or other disposition pursuant to Article 9 of the UCC, (b) the exercise of any right or remedy provided to a secured creditor or otherwise on account of a Lien under the Senior Loan
Documents, the Junior Loan Documents, applicable law, in an Insolvency Proceeding or otherwise, including the election to retain Collateral in satisfaction of a Lien, (c) the taking of any action or the exercise of any right or remedy in
respect of the collection on, set off against, marshaling of, or foreclosure on the Collateral or the Proceeds of Collateral, (d) the sale, lease, license, or other disposition of all or any portion of the Collateral, by private or public sale,
other disposition or any other means permissible under applicable law, (e) the solicitation of bids from third parties to conduct the liquidation of all or a material portion of Collateral to the extent undertaken and being diligently pursued
in good faith to consummate the sale of such Collateral within a commercially reasonable time, (f) the engagement or retention of sales brokers, marketing agents, investment bankers, accountants, appraisers, auctioneers or other third parties
for the purposes of valuing, marketing, promoting and selling the Collateral to the extent undertaken and being diligently pursued in good faith to consummate the sale of such Collateral within a commercially reasonable time, and (g) the
exercise of any other enforcement right relating to the Collateral (including the exercise of any voting rights relating to any Capital Stock and including any right of recoupment or set-off) whether under the Senior Loan Documents, the Junior Loan
Documents, applicable law, in an Insolvency Proceeding or otherwise. 
 “Exigent Circumstances” has the
meaning set forth in Section 10.b. 
 “Forced Obligor Sale” has the meaning set forth in
Section 2.e(2). 
 “Insolvency Proceeding” means any proceeding commenced by or against any
Person under any provision of the Bankruptcy Code or under any other state, federal or foreign bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors,
or proceedings seeking reorganization, arrangement, or other similar relief. 
 “Junior Agent” means the
Original Junior Agent, together with its successors, assigns, transferees and any Person that has a similar title (such as “Agent”, “Collateral Agent” or “Administrative Agent”) under any Junior Credit Agreement.

  

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 “Junior Credit Agreement” means the Original Junior Credit Agreement as
amended, restated, modified, renewed, refunded, replaced, or refinanced in whole or in part from time to time, and any other agreement extending the maturity of, consolidating, otherwise restructuring (including adding Subsidiaries or affiliates of
any Obligor or any other Persons as parties thereto), renewing, replacing or refinancing all or any portion of the Obligations or Commitments as those terms are defined in the Original Junior Credit Agreement or all or any portion of the amounts
owed under any other agreement that itself is a Junior Credit Agreement hereunder and whether by the same or any other agent, lender, or group of lenders and whether or not increasing the amount of Junior Indebtedness that may be incurred
thereunder, in each case, to the extent that any such amendment, restatement, modification, renewal, refunding, replacement, or refinancing is permitted under this Agreement. 
 “Junior Indebtedness” means all obligations and all other amounts owing, due or secured under the terms of the Junior
Credit Agreement or any other Junior Loan Document, including any and all amounts payable to any Junior Lender, all principal, premium, interest, fees, attorneys fees, costs, charges, expenses, reimbursement obligations, any obligation to post cash
collateral in respect of letters of credit or indemnities in respect thereof, indemnities, guarantees, and all other amounts payable under any Junior Loan Document or in respect thereof (including, in each case, all amounts accruing on or after the
commencement of any Insolvency Proceeding relating to any Obligor, or that would have accrued or become due under the terms of the Junior Loan Documents but for the effect of the Insolvency Proceeding or other applicable law, and irrespective of
whether a claim for all or any portion of such amounts is allowable or allowed in such Insolvency Proceeding). 
 “Junior Lenders” means the Original Junior Lenders, together with the lenders under any Junior Credit Agreement or Junior Loan Documents. 
 “Junior Loan Documents” means the Junior Credit Agreement and the other Loan Documents (as such term is defined in the
Original Junior Credit Agreement), or any other security, collateral, ancillary or other document entered into in connection with or related to any agreement that is a Junior Credit Agreement, as such documents may be amended, restated, modified,
renewed, refunded, replaced, or refinanced in whole or in part from time to time in accordance with this Agreement. 
 “Junior Modification” has the meaning set forth in Section 6.b. 
 “Lender” means a Senior Lender and/or a Junior Lender, as the context may require. 
 “Lien” means any interest in an asset securing an obligation owed to, or a claim by, any Person other than the owner of the asset, irrespective of whether (a) such interest is based on the common law, statute, or
contract, (b) such interest is recorded or perfected, and (c) such interest is contingent upon the occurrence of some future event or events or the existence of some future circumstance or circumstances. Without limiting the generality of
the foregoing, the term “Lien” includes the lien or security interest arising from a mortgage, deed of trust, encumbrance, pledge, hypothecation, assignment, deposit arrangement, security agreement, conditional sale or trust receipt, or
from a lease, consignment, or bailment for security purposes and also includes reservations, exceptions, encroachments, easements, rights-of-way, covenants, conditions, restrictions, leases, and other title exceptions and encumbrances affecting real
property. 
  

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 “Maximum Priority Senior Loan Amount” means, as of any date of
determination, the result of (a) the sum of (i) the aggregate principal amount (including the undrawn amount of all letters of credit and all other credit accommodations (other than Bank Product Obligations)) of Senior Indebtedness as of
such date up to, but not in excess of $88,000,000, plus (ii) the aggregate principal amount of Bank Product Obligations as of such date up to, but not in excess of, the Bank Product Reserve (as defined in the Original Senior Credit
Agreement or any comparable term in any successor Senior Credit Agreement) minus (b) the sum of (i) the aggregate amount of all permanent reductions of the Revolver Commitment (as defined in the Original Senior Credit Agreement)
made from and after the date hereof plus (ii) the aggregate amount of all principal payments and prepayments of the Term Loan (as defined in the Original Senior Credit Agreement or any comparable term in any successor Senior Credit Agreement)
actually received by the Senior Lenders. 
 “Notice of Intent to Exercise” means a written notice from or on
behalf of Junior Agent to Senior Agent stating that Junior Agent intends to Exercise Secured Creditor Remedies and stating that it is a “Notice of Intent to Exercise Secured Creditor Remedies”. 
 “Obligor” means the Borrowers, each Guarantor and any other Person that now or hereafter is, or whose assets now or
hereafter are, liable for all or any portion of the Senior Indebtedness or the Junior Indebtedness, as applicable. 
 “Ordinary Course Collections” has the meaning set forth in Section 9.a. 
 “Payment Collateral” means all accounts, instruments, chattel paper, letters of credit, deposit accounts, securities accounts, and payment intangibles, together with all supporting obligations (as those terms are defined in
the UCC), in each case composing a portion of the Collateral. 
 “Permitted Interest Payments” has the
meaning set forth in Section 5.i. 
 “Permitted Application of Proceeds of Collateral” has the
meaning set forth in Section 3. 
 “Permitted Replacement Lien” has the meaning set forth in
Section 5.d. 
 “Person” means any natural person, corporation, limited liability company,
limited partnership, general partnership, limited liability partnership, joint venture, trust, land trust, business trust, or other organization, irrespective of whether such organization is a legal entity, and shall include a government and any
agency or political subdivision thereof. 
 “Priority Status” has the meaning set forth in
Section 5.g. 
 “Proceeds” means (a) all “proceeds” as defined in Article 9 of the
UCC with respect to the Collateral, and (b) whatever is recoverable or recovered when Collateral is sold, exchanged, collected, or disposed of, whether voluntarily or involuntarily. 
  

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 “Purchase Notice” has the meaning set forth in Section 10.a.

 “Recovery” has the meaning set forth in Section 5.c. 
 “Reorganization Debt Securities” has the meaning set forth in Section 5.a. 
 “Senior Agent” means the Original Senior Agent, together with its successors, assigns, transferees and any Person that
has a similar title (such as “Agent”, “Collateral Agent” or “Administrative Agent”) under any Senior Credit Agreement. 
 “Senior Credit Agreement” means the Original Senior Credit Agreement as amended, restated, modified, renewed, refunded, replaced, or refinanced in whole or in part from time to time, and any other
agreement extending the maturity of, consolidating, otherwise restructuring (including adding Subsidiaries or affiliates of any Obligor or any other Persons as parties thereto), renewing, replacing or refinancing all or any portion of the
Obligations or Commitments as those terms are defined in the Original Senior Credit Agreement or all or any portion of the amounts owed under any other agreement that itself is a Senior Credit Agreement hereunder and whether by the same or any other
agent, lender, or group of lenders and whether or not increasing the amount of Senior Indebtedness that may be incurred thereunder, in each case, to the extent that any such amendment, restatement, modification, renewal, refunding, replacement, or
refinancing is permitted under this Agreement. 
 “Senior Default” means any Event of Default under the
Senior Credit Agreement. 
 “Senior Indebtedness” means all obligations and all other amounts owing, due or
secured under the terms of the Senior Credit Agreement or any other Senior Loan Document, including any and all amounts payable to any Senior Lender, all principal, premium, interest, fees, attorneys fees, costs, charges, expenses, reimbursement
obligations, any obligation to post cash collateral in respect of letters of credit or indemnities in respect thereof, indemnities, guarantees, Bank Product Obligations, and all other amounts payable under any Senior Loan Document or in respect
thereof (including, in each case, all amounts accruing on or after the commencement of any Insolvency Proceeding relating to any Obligor, or that would have accrued or become due under the terms of the Senior Loan Documents but for the effect of the
Insolvency Proceeding or other applicable law, and irrespective of whether a claim for all or any portion of such amounts is allowable or allowed in such Insolvency Proceeding). 
 “Senior Lender Sale” has the meaning set forth in Section 2.e(1). 
 “Senior Lenders” means the Original Senior Lenders, together with the lenders under any Senior Credit Agreement or Senior
Loan Documents. 
 “Senior Loan Documents” means the Senior Credit Agreement and the other Loan Documents (as
such term is defined in the Original Senior Credit Agreement), or any other security, collateral, ancillary or other document entered into in connection with or related to any agreement that is a Senior Credit Agreement, as such documents may be
amended, restated, modified, renewed, refunded, replaced, or refinanced in whole or in part from time to time, in accordance with this Agreement. 
  

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 “Senior Modification” has the meaning set forth in
Section 6.a. 
 “Standstill Notice” means a written notice from Senior Agent to Junior Agent
stating that a Senior Default has occurred and is continuing and stating that it is a “Standstill Notice”. 
 “Standstill Period” means the period beginning on the date that a Standstill Notice is received by Junior Agent through and including the first to occur of (a) the date upon which the Discharge of Senior Indebtedness
(with respect to the principal amount thereof, up to the Maximum Priority Senior Loan Amount) shall have occurred, (b) the date upon which Senior Agent shall have waived or acknowledged in writing the termination of the Senior Default that gave
rise to such Standstill Period, or (c) the date that is 120 days after the receipt of such Standstill Notice by Junior Agent. 
 “Trigger Event” has the meaning set forth in Section 10.a. 
 “Trigger
Notice” has the meaning set forth in Section 10.a. 
 “UCC” means the Uniform Commercial
Code as enacted and in effect from time to time in the State of New York. 
 c. Terms Defined in the Original Senior Credit
Agreement. Unless otherwise defined in this Agreement, any and all initially capitalized terms set forth in this Agreement shall have the meaning ascribed thereto in the Original Senior Credit Agreement. 
 d. Rules of Construction. Unless the context of this Agreement clearly requires otherwise, references to the plural include the
singular, references to the singular include the plural, the term “including” is not limiting, and the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or.” The words
“hereof,” “herein,” “hereby,” “hereunder,” and similar terms in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement. Article, section, subsection, clause,
schedule, and exhibit references herein are to this Agreement unless otherwise specified. Any reference herein to any Person shall be construed to include such Person’s successors and assigns. 
 2. Subordination and Standstill. 
 a. Lien Subordination. Notwithstanding (i) the date, time, method, manner or order of grant, attachment, or perfection of any Liens granted to Senior Agent (or any Senior Lender) or Junior Agent (or any
Junior Lender) in respect of all or any portion of the Collateral, (ii) the order or time of filing or recordation of any document or instrument for perfecting the Liens in favor of Senior Agent (or any Senior Lender) or Junior Agent (or any
Junior Lender) in any Collateral, (iii) any provision of the UCC, any other applicable law, any of the Senior Loan Documents or the Junior Loan Documents, (iv) except to the extent set forth below, irrespective of whether the Liens
securing the Senior Loan Documents are valid, enforceable, void, avoidable, subordinated, disputed or allowed, or (v) except to the extent set forth below, any other circumstance whatsoever, Senior Agent, on behalf of itself and the Senior
Lenders, and Junior Agent, on behalf of itself and the Junior Lenders, hereby agree that: 
 (1) any Lien in respect of all or
any portion of the Collateral now or hereafter held by or on behalf of Junior Agent or any Junior Lender that secures all or any portion of the Junior Indebtedness, shall in all respects be junior and subordinate to all Liens granted to Senior Agent
and the Senior Lenders in the Collateral to secure all or any portion of the Senior Indebtedness up to the Maximum Priority Senior Loan Amount except to the extent that such Liens of Senior Agent and the Senior Lenders are invalid, unenforceable,
void, avoidable, subordinated, disputed or not allowed as a result of any action taken by Senior Agent, or any failure by Senior Agent to take any action, with respect to any financing statement (including any amendment to or continuation thereof),
mortgage, intellectual property filing or other perfection document, and 
  

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 (2) any Lien in respect of all or any portion of the Collateral now or hereafter held by
or on behalf of Senior Agent or any Senior Lender that secures all or any portion of the Senior Indebtedness up to the Maximum Priority Senior Loan Amount shall in all respects be senior and prior to all Liens granted to Junior Agent and the Junior
Lenders in the Collateral to secure all or any portion of the Junior Indebtedness except to the extent that such Liens of Senior Agent and the Senior Lenders are invalid, unenforceable, void, avoidable, subordinated, disputed or not allowed as a
result of any action taken by Senior Agent, or any failure by Senior Agent to take any action, with respect to any financing statement (including any amendment to or continuation thereof), mortgage, intellectual property filing or other perfection
document. 
 Notwithstanding the foregoing and any other provision to the contrary contained in this Agreement, (i) the
subordination of Liens provided for in this Agreement shall not be effective on any date with respect to any part of the Collateral in which the Liens of Senior Agent and the Senior Lenders are invalid, unenforceable, void, avoidable, subordinated,
disputed or not allowed as a result of any action taken by Senior Agent, or any failure by Senior Agent to take any action, with respect to any financing statement (including any amendment to or continuation thereof), mortgage, intellectual property
filing or other perfection document, in which event Junior Agent and the Junior Lenders shall be entitled to receive and retain all Proceeds with respect to such Collateral to the extent the Liens of Junior Agent and the Junior Lenders are valid,
enforceable, not void, not avoidable, not subordinated, not disputed and allowed with respect to such Collateral, and (ii) except with respect to Permitted Liens (as defined in the Original Senior Credit Agreement) and except as expressly
provided in Section 2.e, Senior Agent and the Senior Lenders agree not to contractually subordinate, or otherwise contractually relinquish the benefits of, their Lien in any Collateral to the Lien, indebtedness or claim of any other
creditor of the Borrowers or any Obligor without the prior written consent of Junior Agent and the Junior Lenders. 
 b.
Remedies Standstill. At any time that a Standstill Period is in effect, Junior Agent shall not, without the prior written consent of Senior Agent, 
 (1) commence, prosecute, or participate in any lawsuit, action, or proceeding, whether private, judicial, equitable, administrative or otherwise (including any bankruptcy case against any Obligor or any Obligor’s
assets) to the extent that any such action could reasonably be expected, in any material respect, to restrain, hinder, limit, delay for any material period or otherwise interfere with the Exercise of Secured Creditor Remedies by Senior 

  

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Agent or Senior Lenders; provided that (A) to the extent that commencing, prosecuting, or participating in any such lawsuit, action, or
proceeding could not reasonably be expected, in any material respect, to restrain, hinder, limit, delay for any material period or otherwise interfere with the Exercise of Secured Creditor Remedies by Senior Agent or Senior Lenders and Junior Agent
does, in fact, commence, prosecute, or participate in any such lawsuit, action, or proceeding, then Junior Agent shall give Senior Agent prompt written notice of any such action, and (B) as more fully set forth in Section 5 hereof,
Junior Agent and the Junior Lenders may file a proof of claim in any Insolvency Proceeding involving any Obligor, 
 (2)
Exercise Any Secured Creditor Remedies, 
 (3) send any notice to or otherwise seek to obtain payment directly from any
account debtor of any Obligor, sue for an attachment, an injunction to enjoin any Exercise of Secured Creditor Remedies by Senior Agent, a keeper, a receiver or any other similar legal or equitable remedy, exercise any rights of set off or
recoupment as against any Obligor, or 
 (4) commence or cause to be commenced or join with any creditor in commencing any
Insolvency Proceeding. 
 Notwithstanding any other provision hereof, (i) Junior Agent may not Exercise Any Secured
Creditor Remedies with respect to any of the Collateral so long as (A) Senior Agent at such time has commenced and diligently is pursuing in good faith any Exercise of Secured Creditor Remedies with respect to all or a material portion of the
Collateral or (B) Senior Agent and Junior Agent are enjoined from the Exercise of Secured Creditor Remedies, in each case, unless and until the Discharge of Senior Indebtedness (with respect to the principal amount thereof, up to the Maximum
Priority Senior Loan Amount) shall have occurred; and (ii) Junior Agent may not exercise any of the remedies described in clauses (1) through (4) above without first providing Senior Agent at least 10 days prior written notice in the
form of a Notice of Intent to Exercise (it being understood that if Senior Agent does not deliver a Standstill Notice to Junior Agent by the end of such 10 day period, Junior Agent may proceed with the exercise of such remedies, and if Junior Agent
elects to exercise such remedies, Senior Agent may not Exercise Any Secured Creditor Remedies with respect to any of the Collateral so long as Junior Agent at such time has commenced and diligently is pursuing in good faith any Exercise of Secured
Creditor Remedies with respect to all or a material portion of the Collateral, unless and until the Discharge of Junior Indebtedness shall have occurred); provided, that Junior Agent shall not be required to provide a Notice of Intent to
Exercise to Senior Agent in connection with a permitted Exercise of Secured Creditor Remedies upon the termination of any Standstill Period. 
 c. Limitation on Standstill Periods. Subject to clause (i) in the last paragraph of Section 2.b, in no event shall a Standstill Period extend beyond 120 days from the date of receipt by Junior
Agent from Senior Agent of a Standstill Notice initiating such Standstill Period. Any number of notices of a Senior Default may be given during a Standstill Period, but no such notice shall extend such Standstill Period. Only 2 Standstill
Periods may be commenced within any 360 day period, and no subsequent Standstill Period may be commenced within 120 days after the termination of the immediately preceding Standstill Period. No Senior Default that existed or was continuing on the
date of the commencement of any Standstill Period and that was known to Senior Agent or any Senior Lender will be, or can be, made the basis for the 

  

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commencement of a second Standstill Period, whether or not within a period of 360 consecutive days, unless such Senior Default has been cured or waived for a
period of not less than 120 consecutive days. 
 d. Foreclosure Proceedings. Section 2.b shall
not be construed to in any way limit or impair the right of: (i) any Lender to bid for or purchase Collateral at any private or judicial foreclosure upon such Collateral initiated by either Agent or any Lender, (ii) Junior Agent and the
Junior Lenders to join (but not control) any judicial foreclosure proceeding or other judicial lien enforcement proceeding with respect to the Collateral initiated by Senior Agent or any Senior Lender, to the extent that any such action could not
reasonably be expected, in any material respect, to restrain, hinder, limit, delay for any material period or otherwise interfere with the Exercise of Secured Creditor Remedies by Senior Agent or Senior Lenders, and (iii) Junior Agent and the
Junior Lenders to receive payments from the Proceeds of the collection, sale or other disposition of the Collateral in accordance with the terms of this Agreement. 
 e. Release of Liens. 
 (1) In the event of any private or public sale or other disposition of all or any portion of the Collateral by Senior Agent after the occurrence and during the continuance of a Senior Default (and prior to the date
upon which the Discharge of Senior Indebtedness (with respect to the principal amount thereof, up to the Maximum Priority Senior Loan Amount) shall have occurred) in connection with the liquidation by Senior Agent of all or any material portion of
the Collateral and the collection by Senior Agent of the Senior Indebtedness through the sale or other disposition of such Collateral (any such sale or other disposition, a “Senior Lender Sale”), if at such time Senior Agent and the
Senior Lenders shall not have made loans and provided letter of credit accommodations and other financial accommodations under the Senior Loan Documents and otherwise (whether prior to or after the occurrence of an Insolvency Proceeding) in an
amount in excess of the Maximum Priority Senior Loan Amount, then Junior Agent agrees that such Senior Lender Sale will be free and clear of the Liens securing the Junior Indebtedness (and, if the Senior Lender Sale includes Equity Interests in any
Obligor, Junior Agent further agrees to release the entities whose Equity Interests are sold from all Junior Indebtedness); provided that (x) Senior Agent and the Senior Lenders also release their Liens on such Collateral (and, if the
Senior Lender Sale includes Equity Interests in any Obligor, the entities whose Equity Interests are sold from all Senior Indebtedness), (y) the Proceeds of any such Senior Lender Sale are applied in accordance with Section 9.b, and
(z) Senior Agent shall have conducted such Senior Lender Sale in a commercially reasonable manner. 
 (2) In the event of
any private or public sale or other disposition of all or substantially all of the Collateral by any Obligor with the consent of Senior Agent after the occurrence and during the continuance of a Senior Default (and prior to the date upon which the
Discharge of Senior Indebtedness (with respect to the principal amount thereof, up to the Maximum Priority Senior Loan Amount) shall have occurred), which sale or other disposition is conducted by such Obligor with the consent of Senior Agent in
connection with the collection by Senior Agent of the Senior Indebtedness through the sale or other disposition of such Collateral (any such sale or other disposition, a “Forced Obligor Sale”), if at such time Senior Agent and the
Senior Lenders shall not have made loans and provided letter of credit accommodations and 

  

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other financial accommodations under the Senior Loan Documents and otherwise (whether prior to or after the occurrence of an Insolvency Proceeding) in an
amount in excess of the Maximum Priority Senior Loan Amount, then Junior Agent agrees that such Forced Obligor Sale will be free and clear of the Liens securing the Junior Indebtedness (and, if the Forced Obligor Sale includes Equity Interests in
any Obligor, Junior Agent further agrees to release the entities whose Equity Interests are sold from all Junior Indebtedness); provided that (x) Senior Agent and the Senior Lenders also release their Liens on such Collateral (and, if
the Forced Obligor Sale includes Equity Interests in any Obligor, the entities whose Equity Interests are sold from all Senior Indebtedness), (y) the Proceeds of any such Forced Obligor Sale are applied in accordance with
Section 9.b (as if it were Proceeds received in connection with any Exercise of Secured Creditor Remedies), and (z) the Obligor conducting such Forced Obligor Sale shall have conducted such Forced Obligor Sale in a commercially
reasonable manner as if such Forced Obligor Sale were being conducted by a secured creditor in accordance with the Uniform Commercial Code. 
 (3) Junior Agent agrees that, in connection with any Senior Lender Sale or Forced Obligor Sale, upon the prior written request of Senior Agent (which request shall specify the proposed terms of the sale and the type
and amount of consideration to be received in connection therewith), it will execute and/or file any and all Lien releases or other documents reasonably requested by Senior Agent in connection therewith; provided, that (w) in the case of
a Senior Lender Sale, no such release documents shall be delivered to any Obligor, (x) in the case of a Forced Obligor Sale, no such release documents shall be delivered to any Obligor unless Senior Agent has delivered its release documents to
such Obligor, (y) no such release documents shall be delivered more than 5 days prior to the anticipated closing date of such sale or disposition, and (z) the effectiveness of any such release or termination by Junior Agent shall be
subject to the sale or other disposition of the Collateral described in such request and on the terms described in such request or on substantially similar terms and shall lapse in the event such sale or other disposition does not occur within 10
days of the anticipated closing date (at which time Senior Agent or the Obligors, as the case may be, shall promptly return all release documents to Junior Agent). Subject to the proviso in the immediately preceding sentence, in the event that
Junior Agent fails to so execute and/or file any such Lien releases or other documents within 5 Business Days after receipt of written request from Senior Agent, Senior Agent is hereby irrevocably authorized to execute and/or file such Lien releases
and other documents. 
 f. Waiver of Right to Contest Senior Indebtedness. Junior Agent agrees that it shall not, and
hereby waives any right to, take any action to contest or challenge (or assist or support any other Person in contesting or challenging), directly or indirectly, whether or not in any proceeding (including in any Insolvency Proceeding), the
validity, priority, enforceability, or perfection of the Liens of Senior Agent in any Collateral, the validity, priority, enforceability or allowance of any of the claims of Senior Agent or any holder of Senior Indebtedness against any Obligor or
the validity or enforceability of this Agreement or any of the provisions hereof. Junior Agent agrees that it will not take any action that would interfere with any Exercise of Secured Creditor Remedies undertaken by Senior Agent under the Senior
Loan Documents, including any public or private sale, lease, exchange, transfer, or other disposition of any Collateral, whether by foreclosure or otherwise, in any case to the extent permitted under this Agreement. Junior Agent hereby waives any
and all rights it may have as a junior lien creditor 

  

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or otherwise to contest, protest, object to, interfere with the manner in which Senior Agent seeks to enforce the Liens in any Collateral so long as Senior
Agent acts in accordance with the terms of this Agreement. 
 g. Waiver of Right to Contest Junior Indebtedness. Senior
Agent agrees that it shall not, and hereby waives any right to, take any action to contest or challenge (or assist or support any other Person in contesting or challenging), directly or indirectly, whether or not in any proceeding (including in any
Insolvency Proceeding), the validity, priority (except to the extent expressly provided by this Agreement), enforceability, or perfection of the Liens of Junior Agent in any Collateral, the validity, priority (except to the extent expressly provided
by this Agreement), enforceability or allowance of any of the claims of Junior Agent or any holder of Junior Indebtedness against any Obligor or the validity or enforceability of this Agreement or any of the provisions hereof. Senior Agent agrees
that it will not take any action that would interfere with any Exercise of Secured Creditor Remedies undertaken by Junior Agent under the Junior Loan Documents, including any public or private sale, lease, exchange, transfer, or other disposition of
any Collateral, whether by foreclosure or otherwise, in any case to the extent permitted under this Agreement. 
 h.
Acknowledgement of Liens. Junior Agent acknowledges and agrees that Senior Agent, for the benefit of itself and the Senior Lenders, has been granted Liens upon all of the Collateral in which Junior Agent has been granted Liens and Junior
Agent hereby consents thereto. If (i) any Obligor grants in favor of Junior Agent a Lien on any asset of such Obligor not constituting Collateral on the date hereof or (ii) Junior Agent otherwise obtains a non-consensual Lien (including,
without limitation, a judgment lien, writ of attachment, or writ of execution) on any asset of such Obligor not constituting Collateral on the date hereof, Junior Agent agrees that it shall give Senior Agent prompt written notice thereof (and in no
event later than 5 days after the date of such grant), containing a detailed description of such asset (it being understood and agreed that the failure by Junior Agent to give such notice to Senior Agent shall not affect the validity, perfection or
enforceability of such Lien), and Junior Agent acknowledges that if Senior Agent obtains a Lien on such asset, whether prior to or after the time that Junior Agent obtains a Lien on such asset, then the priority of such Lien will be subject to the
terms and provisions of this Agreement. Senior Agent, for and on behalf of itself and the Senior Lenders, acknowledges and agrees that Junior Agent has been granted Liens upon all of the Collateral in which Senior Agent has been granted Liens and
Senior Agent hereby consents thereto. If any Obligor grants in favor of Senior Agent a Lien on any asset of such Obligor not constituting Collateral on the date hereof, Senior Agent agrees that it shall give Junior Agent prompt written notice
thereof (and in no event later than 5 days after the date of such grant), containing a detailed description of such asset (it being understood and agreed that the failure by Senior Agent to give such notice to Junior Agent shall not affect the
validity, perfection or enforceability of such Lien), and Senior Agent acknowledges that if Junior Agent obtains a Lien on such asset, whether prior to or after the time that Senior Agent obtains a Lien on such asset, then the priority of such Lien
will be subject to the terms and provisions of this Agreement. The subordination of Liens and claims by Junior Agent in favor of Senior Agent and the Senior Lenders shall not be deemed to subordinate Junior Agent’s Liens or claims to the Liens
or claims of any other Person that is not a holder of Senior Indebtedness. 
  

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 i. Agent for Perfection. Senior Agent and Junior Agent each agree to hold all
Control Collateral and Cash Collateral, as applicable, in their respective possession, custody, or control (or in the possession, custody, or control of agents or bailees for either) as a non-fiduciary agent for the other solely for the purpose of
perfecting the security interest granted to each in such Control Collateral or Cash Collateral subject to the terms and conditions of this Section 2.i. None of Senior Agent or the Senior Lenders or Junior Agent or the Junior Lenders, as
applicable, shall have any obligation whatsoever to the others to assure that the Control Collateral is genuine or owned by any Obligor or any other Person or to preserve their respective rights or benefits or those of any Person. The duties or
responsibilities of Senior Agent and Junior Agent under this Section 2.i are and shall be limited solely to holding or maintaining control of the Control Collateral and the Cash Collateral as a non-fiduciary agent for the other for
purposes of perfecting the Lien held by Junior Agent or Senior Agent, as applicable. Senior Agent is not and shall not be deemed to be a fiduciary of any kind for Junior Agent or any other Person. Junior Agent is not and shall not be deemed to be a
fiduciary of any kind for Senior Agent or any other Person. 
 3. Permitted Applications of Proceeds of Collateral. So long as an
Application of Proceeds Blockage Period is not then in effect, the Borrowers may pay or apply, and Junior Agent and the Junior Lenders may accept and receive on account of the Junior Indebtedness, any Proceeds of Collateral whatsoever on account of
the Junior Indebtedness in accordance with the terms of the Junior Loan Documents (any such application being referred to as a “Permitted Application of Proceeds of Collateral”). 
 4. Application of Proceeds after Exercise of Remedies. 
 a. In the event that (i) a Senior Default shall have occurred and be continuing, (ii) Senior Agent shall have commenced and
shall be diligently pursuing any Exercise of Secured Creditor Remedies against all or a material portion of the Collateral and shall be applying all Proceeds of Collateral (to the extent received) in accordance with Section 9,
(iii) Senior Agent and the Senior Lenders shall not have made loans and provided letter of credit accommodations and other financial accommodations under the Senior Loan Documents and otherwise (whether prior to or after the occurrence of an
Insolvency Proceeding) in an amount in excess of the Maximum Priority Senior Loan Amount, and (iv) the number of days since the commencement by Senior Agent of the Exercise of Secured Creditor Remedies has not exceeded 180 days (the occurrence
and continuance of items (i), (ii), (iii) and (iv), collectively, an “Application of Proceeds Blockage Event”), then from and after the receipt by Junior Agent of written notice of such Application of Proceeds Blockage Event
from Senior Agent, no Proceeds of Collateral shall be paid or applied by any Obligor, and neither Junior Agent nor any Junior Lender shall accept, take or receive, any Proceeds of Collateral, on account of the Junior Indebtedness until the earlier
to occur of (a) the date of the Discharge of Senior Indebtedness (with respect to the principal amount thereof, up to the Maximum Priority Senior Loan Amount) and (b) the date of termination (including, without limitation, as a result of
the failure of any of items (i), (ii), (iii) or (iv) above to be continuing) or waiver in writing by Senior Agent of such Application of Proceeds Blockage Event (such period of time being an “Application of Proceeds Blockage
Period”). 
  

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 b. In the event that, notwithstanding the terms of the foregoing Section 4a,
the Obligors shall pay or apply or Junior Agent or the Junior Lenders shall receive any Proceeds of Collateral on account of the Junior Indebtedness during an Application of Proceeds Blockage Period, then and in such event the turn-over and other
obligations of Junior Agent set forth in Section 8 shall apply. 
 c. In the case of any Permitted Application of
Proceeds of Collateral on or in respect of any Junior Indebtedness that would (in the absence of any Application of Proceeds Blockage Period) have been made during any Application of Proceeds Blockage Period, the provisions of this
Section 4 shall not prevent the application of (and the Obligor may pay or apply and Junior Agent and the Junior Lenders may accept, take and receive) such Permitted Application of Proceeds of Collateral on or after the date immediately
following the termination of such Application of Proceeds Blockage Period. 
 5. Insolvency Proceeding. 
 a. Continuing Priority. This Agreement shall be applicable both before and after the filing of any Insolvency Proceeding and all
converted or succeeding cases in respect thereof. The relative rights of the Agents and the Lenders in or to any distributions from or in respect of any Collateral or Proceeds of Collateral, shall continue after the filing thereof on the same basis
as prior to the date of the petition, subject to any court order approving the financing of, or use of cash collateral by, the Borrowers or any Obligor as debtor-in-possession. Junior Agent acknowledges and agrees that, in the event of a
distribution of any notes or other debt securities under a plan of reorganization under any Insolvency Proceeding (such notes or other debt securities, “Reorganization Debt Securities”) to each of (i) Senior Agent and the
Senior Lenders and (ii) Junior Agent and the Junior Lenders, such Reorganization Debt Securities received by Junior Agent and the Junior Lenders shall be subordinated to the Reorganization Debt Securities received by Senior Agent and the Senior
Lenders to the same extent that the Junior Indebtedness is subordinated to the Senior Indebtedness pursuant to the terms of this Agreement. 
 b. Proof of Claim. Subject to the restrictions set forth in this Agreement, in the event of any Insolvency Proceeding involving any Obligor or any property of any Obligor, Junior Agent shall retain the right to
vote with respect to the Junior Indebtedness. If Junior Agent does not file a proper claim or proof of debt or other document or amendment thereof in the form required in any Insolvency Proceeding prior to 5 days before the expiration of time to
file such claim or other document or amendment thereof, then Senior Agent shall have the right (but not the obligation) in any such Insolvency Proceeding, and Junior Agent hereby irrevocably appoints Senior Agent as Junior Agent’s lawful
attorney in fact, to file and prove all claims therefor. 
 c. Reinstatement. If Senior Agent, any Senior Lender or any
other holder of any Senior Indebtedness is required in any Insolvency Proceeding or otherwise to turn over or otherwise pay any amount (a “Recovery”) to the estate or to any creditor or representative of an Obligor or any other
Person, then the Senior Indebtedness shall be reinstated to the extent of such Recovery. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination
shall not 

  

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diminish, release, discharge, impair, or otherwise affect the obligations of the parties hereto from such date of reinstatement. All rights, interests,
agreements, and obligations of Senior Agent, the Senior Lenders and Junior Agent and the Junior Lenders under this Agreement shall remain in full force and effect and shall continue irrespective of the commencement of, or any discharge,
confirmation, conversion, or dismissal of any Insolvency Proceeding by or against any Obligor or any other Person and irrespective of any other circumstance which otherwise might constitute a defense available to, or a discharge of any Obligor or
any other Person in respect of the Senior Indebtedness. No priority or right of Senior Agent, the Senior Lenders or any other holder of Senior Indebtedness shall at any time be prejudiced or impaired in any way by any act or failure to act on the
part of any Obligor or any other Person or by the noncompliance by any Person with the terms, provisions, or covenants of the Senior Loan Documents or the Junior Loan Documents, regardless of any knowledge thereof which Senior Agent, the Senior
Lenders or any holder of Senior Indebtedness may have. 
 d. DIP Financing. If any Obligor shall be subject to any
Insolvency Proceeding and Senior Agent shall desire, prior to the Discharge of Senior Indebtedness (with respect to the principal amount thereof, up to the Maximum Priority Senior Loan Amount), to permit the use of cash collateral or to provide any
such Obligor financing (collectively, “DIP Financing”) under Section 363 or Section 364 of the Bankruptcy Code (or any similar provision under the law applicable to any Insolvency Proceeding) to be secured by all or any
portion of the Collateral, then Junior Agent, on behalf of itself and the Junior Lenders, agrees that, so long as (i) the aggregate principal amount of Indebtedness incurred pursuant to such DIP Financing, together with the aggregate principal
amount of all other outstanding Senior Indebtedness, does not exceed the Maximum Priority Senior Loan Amount, (ii) the interest rate, fees, advance rates, lending limits and sublimits are commercially reasonable under the circumstances,
(iii) Junior Agent retains a Lien on the Collateral (including Proceeds thereof arising after the commencement of such proceeding) with the same priority as existed prior to the commencement of the case under applicable Insolvency Laws (an
“Adequate Protection Lien”), (iv) Junior Agent receives a replacement lien (a “Permitted Replacement Lien”) on post-petition assets to the same extent granted to Senior Agent, with the same priority as existed
prior to the commencement of the case under applicable Insolvency Laws, and (v) such use of collateral or DIP Financing is subject to the terms of this Agreement, it will raise no objection to such DIP Financing. Junior Agent, on behalf of
itself and the Junior Lenders, hereby agrees that its Liens in the Collateral shall be subordinated to such DIP Financing (and all obligations relating thereto) to the same extent and upon the same terms and conditions specified in this Agreement.

 e. Alternative DIP Financings. Nothing in this Agreement shall limit the rights of any Lender to object to
post-petition financing or the use of cash collateral that is provided on terms other than those set forth in Section 5.d. 
 f. Priming DIP Financing. Junior Agent, on behalf of itself and the Junior Lenders, agrees that it shall not, directly or indirectly, provide, offer to provide or support any DIP Financing secured by a Lien
senior to or pari passu with the Liens securing the Senior Indebtedness. Senior Agent, on behalf of itself and the Senior Lenders, agrees that it shall not, directly or indirectly, provide, offer to provide or support any DIP Financing on
terms other than those set forth in Section 5.d. 
  

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 g. Other Waivers by Junior Agent. Until the Discharge of Senior Indebtedness (with
respect to the principal amount thereof, up to the Maximum Priority Senior Loan Amount) has occurred, Junior Agent, on behalf of itself and the Junior Lenders, agrees that it shall not without Senior Agent’s written consent to the contrary,
(1) prior to the expiration of the Standstill Period, seek relief from the automatic stay of Section 362 of the Bankruptcy Code or any other stay in any Insolvency Proceeding in respect of any portion of the Collateral on which Senior
Agent then has a Lien, (2) take any action or vote in any way so as to directly or indirectly challenge or contest (A) the validity or the enforceability of the Senior Credit Agreement, the other Senior Loan Documents or the liens and
security interests granted to Senior Agent and the Senior Lenders with respect to the Senior Indebtedness, (B) the rights and duties of Senior Agent and the Senior Lenders established in the Senior Credit Agreement or any other Senior Loan
Document, or (C) the validity or enforceability of this Agreement, (3) seek or request any adequate protection, other than (A) Permitted Interest Payments, (B) Adequate Protection Liens and Permitted Replacement Liens and
(C) priority administrative expense claim status with respect to the Junior Indebtedness (“Priority Status”) which is and shall be subject to this Agreement to the extent applicable, (4) in the event that Senior Agent
obtains relief from the automatic stay under Section 362 of the Bankruptcy Code (or any similar provision) to Exercise Any Secured Creditor Remedies and Senior Agent has commenced and is diligently pursuing in good faith actions to consummate a
sale of all or any material portion of the Collateral in accordance with Section 363 and/or 365 of the Bankruptcy Code within a commercially reasonable time and in a commercially reasonable manner so as to maximize the value of such Collateral,
seek, or acquiesce in any request, to dismiss any Insolvency Proceeding or to convert an Insolvency Proceeding under chapter 11 of the Bankruptcy Code to a case under chapter 7 of the Bankruptcy Code, (5) in the event that Senior Agent obtains
relief from the automatic stay under Section 362 of the Bankruptcy Code (or any similar provision) to Exercise Any Secured Creditor Remedies, seek the appointment of a trustee or examiner with expanded powers for any Borrower or any Guarantor,
or (6) object to any sale of all or any portion of the Collateral in accordance with Sections 363 and/or 365 of the Bankruptcy Code other than (A) any objection that an unsecured creditor could assert or (B) if Senior Agent or any
Senior Lender objects to any such sale. 
 h. Other Waivers by Senior Agent. Until the Discharge of Junior Indebtedness
has occurred, Senior Agent, on behalf of itself and the Senior Lenders, agrees that it shall not without Junior Agent’s written consent to the contrary, take any action or vote in any way so as to directly or indirectly challenge or contest
(A) the validity or the enforceability of the Junior Credit Agreement, the other Junior Loan Documents or the liens and security interests granted to Junior Agent and the Junior Lenders with respect to the Junior Indebtedness, (B) the
rights and duties of Junior Agent and the Junior Lenders established in the Junior Credit Agreement or any other Junior Loan Document, or (C) the validity or enforceability of this Agreement. 
 i. Rights of Junior Agent and Junior Lenders to Adequate Protection. Senior Agent, on behalf of itself and the Senior Lenders,
agrees that it will raise no objection to a request for adequate protection by Junior Agent and the Junior Lenders in the form of (i) payment of interest on the Junior Indebtedness during the pendency of an Insolvency Proceeding so long as the
rate of interest so requested by Junior Agent and the Junior Lenders does not exceed the default rate of interest applicable to the Junior Indebtedness immediately prior to the commencement of such Insolvency Proceeding (“Permitted Interest
Payments”), (ii) Adequate Protection Liens and Permitted Replacement Liens and (iii) Priority Status. 
  

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 6. Modifications of Indebtedness. 
 a. Senior Indebtedness. All Senior Indebtedness at any time incurred by any Obligor shall be deemed to have been incurred, and all
Senior Indebtedness held by any Senior Lender or other holder of Senior Indebtedness shall be deemed to have been extended, acquired or obtained, as applicable, in reliance upon this Agreement, and, to the extent not otherwise required herein,
Junior Agent hereby waives (i) notice of acceptance, or proof of reliance, by Senior Agent, the Senior Lenders or any other holder of Senior Indebtedness of this Agreement, and (ii) notice of the existence, renewal, extension, accrual,
creation, or non-payment of all or any part of the Senior Indebtedness. Nothing contained in this Agreement shall preclude Senior Agent, Senior Lenders or any holder of Senior Indebtedness from discontinuing the extension of credit to any Obligor
(whether under the Senior Credit Agreement or otherwise). Anything in the Junior Loan Documents to the contrary notwithstanding, Junior Agent hereby agrees that Senior Agent shall have the right, at any time and from time to time, in its sole
discretion without the consent of or notice to Junior Agent or any Junior Lender (except to the extent such notice or consent is required pursuant to the express provisions of this Agreement), and without incurring any liability to Junior Agent or
any Junior Lender amend, restate, supplement, replace, refinance, extend, consolidate, restructure, or otherwise modify (collectively, any “Senior Modification”) the Senior Loan Documents, in any manner whatsoever, including any
renewals, extensions or shortening of time of payments (even if such shortening causes any Senior Indebtedness to be due on demand or otherwise), and Junior Agent consents and agrees to any such Senior Modification; provided that Senior Agent
and the Senior Lenders shall obtain the prior written consent of Junior Agent, on behalf of the Junior Lenders, to any Senior Modification that (i) changes the amount of any scheduled principal payment or any mandatory principal prepayment or
extends the date for payment of any scheduled principal payment or any mandatory principal prepayment, or (ii) increases the applicable interest rate margin with respect to any category of the Senior Indebtedness by greater than two
(2) percentage points per annum (excluding the imposition of the default rate of interest in effect under the Original Senior Loan Documents). The foregoing notwithstanding, Senior Agent and the Senior Lenders may increase the amount of the
Senior Indebtedness, without obtaining the consent of Junior Agent or any Junior Lender, in accordance with the terms of the Senior Credit Agreement (subject to the restrictions set forth herein). Other than the Senior Modifications set forth in the
proviso to the immediately preceding sentence, Junior Agent waives notice of any such Senior Modification, and agrees that no such Senior Modification shall affect, release, or impair the subordinations or any other obligations of Junior Agent
contained herein. 
 b. Junior Indebtedness. All Junior Indebtedness at any time incurred by any Obligor shall be
deemed to have been incurred, and all Junior Indebtedness held by any Junior Lender or other holder of Junior Indebtedness shall be deemed to have been extended, acquired or obtained, as applicable, in reliance upon this Agreement, and, to the
extent not otherwise required herein, Senior Agent hereby waives (i) notice of acceptance, or proof of reliance, by Junior Agent, the Junior Lenders or any other holder of Junior Indebtedness of this Agreement, and (ii) notice of the
existence, renewal, extension, accrual, creation, or non-payment of all or any part of the Junior Indebtedness. Nothing contained in this Agreement shall preclude Junior 

  

 - 18 - 

 
Agent, Junior Lenders or any holder of Junior Indebtedness from discontinuing the extension of credit to any Obligor (whether under the Junior Credit
Agreement or otherwise). Anything in the Senior Loan Documents to the contrary notwithstanding, Senior Agent hereby agrees that Junior Agent shall have the right, at any time and from time to time, in its sole discretion without the consent of or
notice to Senior Agent or any Senior Lender (except to the extent such notice or consent is required pursuant to the express provisions of this Agreement), and without incurring any liability to Senior Agent or any Senior Lender amend, restate,
supplement, replace, refinance, extend, consolidate, restructure, or otherwise modify (collectively, any “Junior Modification”) the Junior Loan Documents, in any manner whatsoever, including any renewals, extensions or shortening of
time of payments (even if such shortening causes any Junior Indebtedness to be due on demand or otherwise), and Senior Agent consents and agrees to any such Junior Modification; provided that Junior Agent and the Junior Lenders shall obtain
the prior written consent of Senior Agent, on behalf of the Senior Lenders, to any Junior Modification that: (i) requires that any payment be made earlier than the date originally scheduled for such payment, or (ii) increases the
applicable cash interest rate with respect to the Junior Indebtedness by greater than two (2) percentage points per annum (excluding the imposition of the default rate of interest in effect under the Original Junior Loan Documents).
Other than the Junior Modifications set forth in the proviso to the immediately preceding sentence, Senior Agent waives notice of any such Junior Modification, and agrees that no such Junior Modification shall affect, release, or impair any
of the obligations of Senior Agent contained herein. 
 c. Notice of Acceptance and Other Waivers. 
 (1) To the fullest extent permitted by applicable law, Junior Agent hereby waives: (i) notice of acceptance hereof; (ii) notice
of any loans or other financial accommodations made or extended under the Senior Credit Agreement, or the creation or existence of any Senior Indebtedness; (iii) notice of the amount of the Senior Indebtedness; (iv) notice of any adverse
change in the financial condition of any Obligor or of any other fact that might increase such Junior Agent’s risk hereunder; (v) notice of presentment for payment, demand, protest, and notice thereof as to any instrument among the Senior
Loan Documents; (vi) notice of any Default or Event of Default under the Senior Loan Documents or otherwise relating to the Senior Indebtedness; and (vii) all other notices (except if such notice is specifically required to be given to
Junior Agent under this Agreement) and demands to which Junior Agent might otherwise be entitled. To the fullest extent permitted by applicable law, Senior Agent hereby waives: (i) notice of acceptance hereof; (ii) notice of any loans or
other financial accommodations made or extended under the Junior Credit Agreement, or the creation or existence of any Junior Indebtedness; (iii) notice of the amount of the Junior Indebtedness; (iv) notice of any adverse change in the
financial condition of any Obligor or of any other fact that might increase such Senior Agent’s risk hereunder; (v) notice of presentment for payment, demand, protest, and notice thereof as to any instrument among the Junior Loan
Documents; (vi) notice of any Default or Event of Default under the Junior Loan Documents or otherwise relating to the Junior Indebtedness; and (vii) all other notices (except if such notice is specifically required to be given to Senior
Agent under this Agreement) and demands to which Senior Agent might otherwise be entitled. 
  

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 (2) To the fullest extent permitted by applicable law, Junior Agent waives the right by
statute or otherwise to require Senior Agent, any Senior Lender or any holder of Senior Indebtedness to institute suit against any Obligor or to exhaust any rights and remedies which any Senior Agent, any Senior Lender or any holder of Senior
Indebtedness has or may have against any Obligor. Junior Agent further waives any defense arising by reason of any disability or other defense (other than the defense that the Discharge of Senior Indebtedness has occurred (subject to the provisions
of Section 5.c)) of any Obligor or by reason of the cessation from any cause whatsoever of the liability of such Obligor in respect thereof. To the fullest extent permitted by applicable law, Senior Agent waives the right by statute or
otherwise to require Junior Agent, any Junior Lender or any holder of Junior Indebtedness to institute suit against any Obligor or to exhaust any rights and remedies which any Junior Agent, any Junior Lender or any holder of Junior Indebtedness has
or may have against any Obligor. Senior Agent further waives any defense arising by reason of any disability or other defense (other than the defense that the Discharge of Junior Indebtedness has occurred (subject to the provisions of
Section 5.c)) of any Obligor or by reason of the cessation from any cause whatsoever of the liability of such Obligor in respect thereof 
 (3) To the fullest extent permitted by applicable law, Junior Agent hereby waives: (i) any rights to assert against Senior Agent, the Senior Lenders or any other holder of Senior Indebtedness any defense (legal
or equitable), set-off, counterclaim, or claim which such Junior Agent may now or at any time hereafter have against any Obligor; (ii) except as otherwise set forth in this Agreement, any defense, set-off, counterclaim, or claim, of any kind or
nature, arising directly or indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of any Senior Indebtedness, any Junior Indebtedness or any security for either; and (iii) the benefit of any statute
of limitations affecting Junior Agent’s obligations hereunder or the enforcement thereof, and any act which shall defer or delay the operation of any statute of limitations applicable to the Senior Indebtedness shall similarly operate to defer
or delay the operation of such statute of limitations applicable to such Junior Agent’s obligations hereunder. To the fullest extent permitted by applicable law, Senior Agent hereby waives: (i) any rights to assert against Junior Agent,
the Junior Lenders or any other holder of Junior Indebtedness any defense (legal or equitable), set-off, counterclaim, or claim which such Senior Agent may now or at any time hereafter have against any Obligor; (ii) except as otherwise set
forth in this Agreement, any defense, set-off, counterclaim, or claim, of any kind or nature, arising directly or indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of any Junior Indebtedness, any
Senior Indebtedness or any security for either; and (iii) the benefit of any statute of limitations affecting Senior Agent’s obligations hereunder or the enforcement thereof, and any act which shall defer or delay the operation of any
statute of limitations applicable to the Junior Indebtedness shall similarly operate to defer or delay the operation of such statute of limitations applicable to such Senior Agent’s obligations hereunder. 
 (4) Until such time as the Discharge of Senior Indebtedness (with respect to the principal amount thereof, up to the Maximum Priority
Senior Loan Amount) shall have occurred, Junior Agent hereby postpones any right of subrogation Junior Agent or any Junior Lender has or may have as against any Obligor with respect to any Senior Indebtedness. 
 (5) None of Senior Agent, any Senior Lender or any other holder of Senior Indebtedness or any of their respective affiliates, directors,
officers, employees, or agents 

  

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shall be liable for failure to demand, collect, or realize upon any of the Collateral or any Proceeds or for any delay in doing so or shall be under any
obligation to sell or otherwise dispose of any Collateral or Proceeds thereof or to take any other action whatsoever with regard to the Collateral or any part or Proceeds thereof. If Senior Agent or any Senior Lender honors (or fails to honor) a
request by the Borrowers for an extension of credit pursuant to the Senior Credit Agreement or any of the other Senior Loan Documents, whether Senior Agent or any Senior Lender has knowledge that the honoring of (or failure to honor) any such
request would constitute a default under the terms of the Junior Loan Documents or an act, condition, or event that, with the giving of notice or the passage of time, or both, would constitute such a default, or if Senior Agent or any Senior Lender
otherwise should exercise any of its contractual rights or remedies under the Senior Loan Documents (subject to the express terms and conditions hereof), neither Senior Agent nor any Senior Lender shall have any liability whatsoever to Junior Agent
as a result of such action, omission, or exercise. Senior Agent will be entitled to manage and supervise its loans and extensions of credit under the Senior Loan Documents as Senior Agent may, in its sole discretion, deem appropriate, and Senior
Agent, each Senior Lender and each other holder of Senior Indebtedness may manage its loans and extensions of credit without regard to any rights or interests that Junior Agent may have in the Collateral or otherwise except as otherwise expressly
set forth in this Agreement. Junior Agent agrees that none of Senior Agent, any Senior Lender or any other holder of Senior Indebtedness shall incur any liability as a result of a sale, lease, license, application or other disposition of all or any
portion of the Collateral or any part or Proceeds thereof conducted in accordance with applicable law and the terms hereof. Subject to the express terms and conditions of this Agreement, Senior Agent, each Senior Lender and each holder of Senior
Indebtedness may, from time to time, enter into agreements and settlements with Obligors as it may determine in its sole discretion without impairing any of the subordinations, priorities, rights or obligations of the parties under this Agreement,
including substituting Collateral, releasing any Lien and releasing any Obligor. Junior Agent waives any and all rights it may have to require Senior Agent, any Senior Lender or any holder of Senior Indebtedness to marshal assets, to exercise rights
or remedies in a particular manner, or to forbear from exercising such rights and remedies in any particular manner or order. 
 (6) None of Junior Agent, any Junior Lender or any other holder of Junior Indebtedness or any of their respective affiliates, directors, officers, employees, or agents shall be liable for failure to demand, collect, or realize upon any of
the Collateral or any Proceeds or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral or Proceeds thereof or to take any other action whatsoever with regard to the Collateral or any part or
Proceeds thereof. If Junior Agent or any Junior Lender honors (or fails to honor) a request by the Borrowers for an extension of credit pursuant to the Junior Credit Agreement or any of the other Junior Loan Documents, whether Junior Agent or any
Junior Lender has knowledge that the honoring of (or failure to honor) any such request would constitute a default under the terms of the Senior Loan Documents or an act, condition, or event that, with the giving of notice or the passage of time, or
both, would constitute such a default, or if Junior Agent or any Junior Lender otherwise should exercise any of its contractual rights or remedies under the Junior Loan Documents (subject to the express terms and conditions hereof), neither Junior
Agent nor any Junior Lender shall have any liability whatsoever to Senior Agent as a result of such action, omission, or exercise. Junior Agent will be entitled to manage and supervise its loans and extensions of credit under the Junior Loan
Documents as Junior Agent may, in its sole discretion, deem appropriate, and Junior Agent, each Junior Lender and each 

  

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other holder of Junior Indebtedness may manage its loans and extensions of credit without regard to any rights or interests that Senior Agent may have in the
Collateral or otherwise except as otherwise expressly set forth in this Agreement. Senior Agent agrees that none of Junior Agent, any Junior Lender or any other holder of Junior Indebtedness shall incur any liability as a result of a sale, lease,
license, application or other disposition of all or any portion of the Collateral or any part or Proceeds thereof conducted in accordance with applicable law and the terms hereof. Subject to the express terms and conditions of this Agreement, Junior
Agent, each Junior Lender and each holder of Junior Indebtedness may, from time to time, enter into agreements and settlements with Obligors as it may determine in its sole discretion without impairing any of the subordinations, priorities, rights
or obligations of the parties under this Agreement, including substituting Collateral, releasing any Lien and releasing any Obligor. Senior Agent waives any and all rights it may have to require Junior Agent, any Junior Lender or any holder of
Junior Indebtedness to marshal assets, to exercise rights or remedies in a particular manner, or to forbear from exercising such rights and remedies in any particular manner or order. Subject to the express terms and conditions hereof, nothing
contained in this Agreement shall limit or waive any right that Junior Agent and the Junior Lenders have to enforce any of the provisions of the Junior Loan Documents against the Borrowers or any Obligor. 
 7. Indebtedness Owed Only to Lenders. 
 a. The entire Junior Indebtedness is owing only to the Junior Lenders. Junior Agent may not sell or assign or otherwise transfer any part of its interest in the Junior Indebtedness or the Collateral, other than
assignments to Junior Lenders and participations in accordance with the Junior Credit Agreement, unless the transferee executes and delivers to Senior Agent a written acknowledgment in which the transferee acknowledges its agreement to be bound by
the terms hereof. Junior Agent under any Junior Credit Agreement that replaces or refinances the Original Junior Credit Agreement shall not be entitled to any of the benefits of this Agreement unless and until such Junior Agent acknowledges its
agreement to be bound by the terms hereof. 
 b. The entire Senior Indebtedness is owing only to the Senior Lenders. Senior
Agent may not sell or assign or otherwise transfer any part of its interest in the Senior Indebtedness or the Collateral, other than assignments to Senior Lenders and participations in accordance with the Senior Credit Agreement, unless the
transferee executes and delivers to Junior Agent a written acknowledgment in which the transferee acknowledges its agreement to be bound by the terms hereof. Senior Agent under any Senior Credit Agreement that replaces or refinances the Original
Senior Credit Agreement shall not be entitled to any of the benefits of this Agreement unless and until such Senior Agent acknowledges its agreement to be bound by the terms hereof. 
 8. Payments Received by Junior Agent or the Junior Lenders. If at any time prior to the date upon which the Discharge of Senior Indebtedness shall
have occurred, Junior Agent or any Junior Lender receives any payment or distribution of any kind or character, whether as a result of an Exercise of Any Secured Creditor Remedies or otherwise, whether in cash, property or securities, from or of any
assets of any Obligor (or any Obligor’s Subsidiaries), irrespective of whether such payment or distribution was of Collateral, of Proceeds thereof or of any other assets of such Obligor or such Subsidiary, in each case, in contravention of the
express terms of 

  

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this Agreement, Junior Agent or such Junior Lender shall be deemed to receive and hold the same in trust as trustee for the benefit of Senior Agent and the
Senior Lenders and shall forthwith deliver such payment, distribution, or proceeds to Senior Agent in precisely the form received (except for the endorsement or assignment by Junior Agent or such Junior Lender where necessary), for application on
any of the Senior Indebtedness, whether then due or yet to become due. In the event of the failure of Junior Agent or any Junior Lender to make any such endorsement or assignment to Senior Agent within 5 Business Days after receipt of written
request therefor from Senior Agent, Senior Agent and any of its officers or agents are hereby irrevocably authorized to make such endorsement or assignment and Junior Agent hereby irrevocably appoints Senior Agent as the lawful attorney in fact of
Junior Agent and Junior Lenders solely for the purpose of enabling Senior Agent to make such endorsement or assignment in the name of Junior Agent or any Junior Lender. 
 9. Application of Proceeds. 
 a. Revolving Nature of Working Capital
Indebtedness. Junior Agent, for and on behalf of itself and the Junior Lenders, expressly acknowledges and agrees that (i) a portion of the Senior Credit Agreement is a revolving commitment, that in the ordinary course of business Senior
Agent and the Senior Lenders will apply payments and make advances thereunder, and that no application of any Payment Collateral or Cash Collateral in the ordinary course of business and absent any affirmative enforcement action or remedies by
Senior Agent or any Senior Lender to collect or otherwise realize upon such Payment Collateral or Cash Collateral (such Payment Collateral or Cash Collateral, “Ordinary Course Collections”) shall constitute the Exercise of Secured
Creditor Remedies under this Agreement; and (ii) all Ordinary Course Collections received by Senior Agent may be applied, reversed, reapplied, credited, or reborrowed, in whole or in part, to the portion of the Senior Credit Agreement that is a
revolving commitment without reducing the Maximum Priority Senior Loan Amount at any time. Notwithstanding anything to the contrary contained in this Agreement, the parties hereto hereby agree that all applications of Payment Collateral or Cash
Collateral by Senior Agent or any Senior Lender to Senior Indebtedness (x) from an Exercise of Secured Creditor Remedies by Senior Agent or any Senior Lender (it being understood and agreed that, subject to clause (y) below, Senior Agent
shall not be obligated to apply Ordinary Course Collections in accordance with Section 9.b even if Senior Agent or any Senior Lender is otherwise Exercising Secured Creditor Remedies at such time so long as such Ordinary Course
Collections do not arise from such Exercise of Secured Creditor Remedies) or (y) from and after the termination or expiration of an Application of Proceeds Blockage Period (if at such time any payment default has occurred and is continuing with
respect to the Junior Indebtedness) shall constitute Proceeds of Collateral and shall be applied in accordance with Section 9.b. 
 b. Application of Proceeds of Collateral. All Collateral and all Proceeds, received by either of Senior Agent or Junior Agent in connection with any Exercise of Secured Creditor Remedies shall be applied:

 first, to the payment of costs and expenses of Senior Agent in connection with such Exercise of Secured Creditor Remedies (to the
extent Senior Agent’s Exercise of Secured Creditor Remedies is permitted hereunder), 
  

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 second, to the payment of the Senior Indebtedness (other than Excluded Senior Indebtedness) in
accordance with the Senior Loan Documents, and in the case of payment of any revolving credit loans, together with the concurrent permanent reduction of any revolving credit commitment thereunder in an amount equal to the amount of such payment,

 third, to the payment of costs and expenses of Junior Agent in connection with such Exercise of Secured Creditor Remedies (to the
extent Junior Agent’s Exercise of Secured Creditor Remedies is permitted hereunder), 
 fourth, to the payment of the Junior
Indebtedness (other than Excluded Junior Indebtedness) in accordance with the Junior Loan Documents, 
 fifth, to the payment of the
Excluded Senior Indebtedness in accordance with the Senior Loan Documents, and 
 sixth, to the payment of the Excluded Junior
Indebtedness in accordance with the Junior Loan Documents. 
 10. Junior Lender Purchase Option. 
 a. Upon (i) receipt by Junior Agent of a notice (a “Trigger Notice”) by Senior Agent of the intent of Senior Agent
and the Senior Lenders to (A) accelerate any Senior Indebtedness, (B) Exercise Any Secured Creditor Remedies or (C) request that Junior Agent and the Junior Lenders release their Liens on the Collateral pursuant to
Section 2.e hereof, (ii) the occurrence of a payment default under the Junior Loan Documents, (iii) the commencement of an Insolvency Proceeding with respect to any Obligor, or (iv) receipt by Junior Agent of a Standstill
Notice (each a “Trigger Event”), Junior Agent and the Junior Lenders shall have the option, exercised by delivery of notice by Junior Agent to Senior Agent (a “Purchase Notice”), to purchase all (but not less than
all) of the Senior Indebtedness (other than the Excluded Senior Indebtedness) from Senior Agent and the Senior Lenders. The Purchase Notice shall be irrevocable. 
 b. Senior Agent shall deliver to Junior Agent any Trigger Notice referred to in Section 10.a(i) above (i) in the absence of an
Exigent Circumstance (defined below), not less than 5 business days prior to the taking of the earliest of the actions described in Section 10.a(i) or (ii) if Exigent Circumstances exist, as soon as practicable and in any event
contemporaneously with the taking of such action. Junior Agent may send to Senior Agent a Purchase Notice within 5 business days of the occurrence of a Trigger Event, in which event, Senior Agent and the Senior Lenders shall not accelerate the
Senior Indebtedness or Exercise Any Secured Creditor Remedies, to the extent such action has not been taken, or request that Junior Agent and the Junior Lenders release their Liens on the Collateral pursuant to Section 2.e hereof, as the case
may be, provided, that, the purchase and sale with respect to the Senior Indebtedness (other than the Excluded Senior Indebtedness) provided for in this Section 10 shall have closed within 5 business days after receipt by Senior Agent of the
Purchase Notice and Senior Agent shall have received payment in full of the Senior Indebtedness (other than the Excluded Senior Indebtedness) as provided for herein within such 5 business day period. As used herein, 

  

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“Exigent Circumstance” shall mean an event or circumstance that materially and imminently threatens the ability of Senior Agent to realize
upon all or a material part of the Collateral, such as, without limitation, fraudulent removal, concealment, or abscondment thereof, destruction (other than to the extent covered by insurance) or material waste thereof, or the failure of any Loan
Party after reasonable demand to maintain or reinstate adequate casualty insurance coverage with respect thereto. 
 c. On the
date specified by Junior Agent in the Purchase Notice (which shall not be more than 5 business days after the receipt by Senior Agent of the Purchase Notice), Senior Agent and the Senior Lenders shall sell to Junior Agent and the Junior Lenders, and
Junior Agent and the Junior Lenders shall purchase from Senior Agent and the Senior Lenders, the Senior Indebtedness (other than the Excluded Senior Indebtedness). 
 d. Upon the date of such purchase and sale, Junior Agent and the Junior Lenders shall (i) pay to Senior Agent and the Senior Lenders
as the purchase price therefor the full amount of all the Senior Indebtedness (other than the Excluded Senior Indebtedness) then outstanding and unpaid, (ii) furnish cash collateral to Senior Agent and the Senior Lenders in such amounts as
Senior Agent determines is reasonably necessary to secure Senior Agent and the Senior Lenders in connection with (A) any issued and outstanding letters of credit provided by Senior Agent or any Senior Lender (or letters of credit that Senior
Agent or any Senior Lender has arranged to be provided by third parties pursuant to the Senior Loan Documents) to any Obligor (but not in any event in an amount greater than 105% of the aggregate undrawn face amount of such letters of credit) and
(B) Bank Product Obligations owing to the Bank Product Providers (as defined in the Original Senior Credit Agreement) (but not in any event in an amount greater than the Bank Product Reserve (as defined in the Original Senior Credit Agreement)
established in respect thereof in accordance with the Original Senior Credit Agreement), (iii) agree to reimburse Senior Agent and the Senior Lenders for all expenses to the extent earned or due and payable in accordance with the Senior Loan
Documents (including the reimbursement of extraordinary expenses, financial examination expenses and appraisal fees), and (iv) agree to pay to Senior Agent and the Senior Lenders all or a portion of any prepayment premium, make-whole obligation
or early termination fee payable pursuant to the Senior Loan Documents within 3 business days after receipt by Junior Agent and the Junior Lenders of amounts sufficient to pay all or a portion of such early termination fee, after the payment in full
in cash to Junior Agent and the Junior Lenders of the Junior Indebtedness and the Senior Indebtedness (other than the Excluded Senior Indebtedness) purchased by Junior Agent and the Junior Lenders pursuant to this Section 10, including
principal, interest and fees thereon and costs and expense of collection thereof (including reasonable attorneys’ fees and legal expenses). Such purchase price and cash collateral shall be remitted by wire transfer in federal funds to such bank
account of Senior Agent as Senior Agent may designate in writing to Junior Agent for such purpose. Interest shall be calculated to but excluding the business day on which such purchase and sale shall occur if the amounts so paid by Junior Agent and
the Junior Lenders to the bank account designated by Senior Agent are received in such bank account prior to 2:00 p.m., New York City time, and interest shall be calculated to and including such business day if the amounts so paid by Junior
Agent and the Junior Lenders to the bank account designated by Senior Agent are received in such bank account later than 2:00 p.m., New York City time. 
  

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 e. Such purchase shall be expressly made without representation or warranty of any kind
by Senior Agent and the Senior Lenders as to the Senior Indebtedness so purchased or otherwise and without recourse to Senior Agent or any Senior Lender, except that each Senior Lender shall represent and warrant: (i) the amount of the Senior
Indebtedness being purchased from it, (ii) that such Senior Lender owns its portion of the Senior Indebtedness so purchased free and clear of any Liens or encumbrances and (iii) such Senior Lender has the right to assign such Senior
Indebtedness and the assignment is duly authorized by such Senior Lender. 
 11. Representations. Senior Agent represents and warrants
to Junior Agent that it has the requisite power and authority to enter into, execute, deliver, and carry out the terms of this Agreement on behalf of itself and the Senior Lenders. Junior Agent represents and warrants that it has the requisite power
and authority to enter into, execute, deliver, and carry out the terms of this Agreement on behalf of itself and the Junior Lenders. 
 12.
Additional Remedies. 
 a. If Junior Agent violates any of the terms of this Agreement, in addition to any remedies in
law, equity, or otherwise, Senior Agent may restrain such violation in any court of law and may, in its own or in any Obligor’s name, interpose this Agreement as a defense in any action by Junior Agent. Upon Senior Agent’s written request,
Junior Agent will promptly take all actions which Senior Agent believes appropriate to carry out the purposes and provisions of this Agreement. 
 b. If Senior Agent violates any of the terms of this Agreement, in addition to any remedies in law, equity, or otherwise, Junior Agent may restrain such violation in any court of law and may, in its own or in any
Obligor’s name, interpose this Agreement as a defense in any action by Senior Agent. Upon Junior Agent’s written request, Senior Agent will promptly take all actions which Junior Agent believes appropriate to carry out the purposes and
provisions of this Agreement. 
 13. Amendments. No amendment or waiver of any provision of this Agreement nor consent to any
departure by any party hereto shall be effective unless it is in a written agreement executed by Junior Agent and Senior Agent, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which
given. 
 14. Instrument Legends. Junior Agent agrees that the face of each promissory note evidencing the Junior Indebtedness or any
portion thereof shall be inscribed with a legend conspicuously indicating that such promissory note is subject to the terms of this Agreement. Any promissory note evidencing any of the Junior Indebtedness or any portion thereof which is hereafter
executed will, on the date thereof, be inscribed with a similar legend. 
 15. Information Concerning Financial Condition. 

a. Junior Agent hereby assumes responsibility for keeping itself informed of the financial condition of Obligors and of all other
circumstances bearing upon the risk of nonpayment of the Junior Indebtedness, and agrees that Senior Agent has and shall have no duty to advise Junior Agent of information known to Senior Agent regarding such condition or any such circumstances. In
the event Senior Agent, in its sole discretion, undertakes, at any time or 

  

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from time to time, to provide any such information to Junior Agent, Senior Agent shall be under no obligation (i) to provide any such information to
Junior Agent on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, Senior Agent wishes to maintain confidential. Junior Agent acknowledges
and agrees that Senior Agent has made no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Senior Indebtedness or any liens or security interests held in connection therewith.

 b. Senior Agent hereby assumes responsibility for keeping itself informed of the financial condition of Obligors and of all
other circumstances bearing upon the risk of nonpayment of the Senior Indebtedness, and agrees that Junior Agent has and shall have no duty to advise Senior Agent of information known to Junior Agent regarding such condition or any such
circumstances. In the event Junior Agent, in its sole discretion, undertakes, at any time or from time to time, to provide any such information to Senior Agent, Junior Agent shall be under no obligation (i) to provide any such information to
Senior Agent on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, Junior Agent wishes to maintain confidential. Senior Agent acknowledges
and agrees that Junior Agent has made no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Junior Indebtedness or any liens or security interests held in connection therewith.

 16. Third Party Beneficiaries. This Agreement is solely for the benefit of Senior Agent, Senior Lenders, Junior Agent, and the
Junior Lenders, and their respective successors and assigns, and neither any Obligor nor any other Persons are intended to be a third party beneficiary hereunder or to have any right, benefit, priority or interest under, or because of the existence
of, or to have any right to enforce, this Agreement. Senior Agent and Junior Agent shall have the right to modify or terminate this Agreement at any time without notice to or approval of any Obligor or any other Person. 
 17. No Impairment. Nothing in this Agreement is intended to or shall impair, as between Obligors and Junior Agent and the Junior Lenders, the
obligation of Obligors, which is absolute and unconditional, to pay the Junior Indebtedness as and when the same shall become due and payable in accordance with its terms, or affect the relative rights of Junior Agent and the Junior Lenders and
creditors of Obligors other than Senior Agent and the Senior Lenders. 
 18. Subrogation. Solely after the Discharge of Senior
Indebtedness shall have occurred, Junior Agent and the Junior Lenders shall be subrogated to the rights of Senior Agent and the Senior Lenders to the extent that distributions otherwise payable to Junior Agent or any Junior Lender have been applied
to the payment of the Senior Indebtedness in accordance with the provisions of this Agreement. Senior Agent and the Senior Lenders shall have no obligation or duty to protect Junior Agent and the Junior Lenders’ rights of subrogation arising
pursuant to this Agreement or under any applicable law, nor shall Senior Agent, Senior Lenders or any other holder of Senior Indebtedness be liable for any loss to, or impairment of, any subrogation rights held by Junior Agent or any Junior Lender.

  

 - 27 - 

 19. Notices. All demands, notices, and other communications provided for hereunder shall be in
writing and, if to Junior Agent, mailed or sent by telecopy or delivered to it, addressed to it as follows: 
 D.B. ZWIRN SPECIAL
OPPORTUNITIES FUND, L.P. 
 745 Fifth Avenue, 18th Floor 
 New York, New York 10151 
 Attn: Vasan Kesavan, Esq. 
 Fax No: (646) 746-8669 
 With a copy to:

 SCHULTE ROTH & ZABEL LLP  
 919 Third Avenue 
 New York, New York 10022 
 Attn: Frederic L. Ragucci, Esq. 
 Fax No.:
(212) 593-5955 
 and if to Senior Agent, mailed, sent or delivered thereto, 
 addressed to it as follows:  
 WELLS FARGO FOOTHILL, INC. 
 One Boston Place 
 Boston, Massachusetts 02108 
 Attn: Business Finance Manager 
 Fax No.: (617) 523-5839 
 With a copy
to: 
 MORRISON & FOERSTER LLP 
 1290 Avenue of the Americas, 40th Floor 
 New York, New York 10104-0050 
 Attn: Mark B. Joachim, Esq. 
 Fax No.:
(212) 468-7900 
 or as to any party at such other address as shall be designated by such party in a written notice to
the other parties complying as to delivery with the terms of this Section 19. All such demands, notices and other communications shall be effective, when mailed, three Business Days after deposit in the mails, postage prepaid, when sent
by telecopy, when receipt is acknowledged by the receiving telecopy equipment (or at the opening of the next Business Day if receipt is after normal business hours), or when delivered, as the case may be, addressed as aforesaid. 
 20. Costs and Attorneys Fees. In the event it becomes necessary for Senior Agent, any Senior Lender, Junior Agent, or any Junior Lender to
commence or become a party to any proceeding or action to enforce the provisions of this Agreement, the court or body before which the same shall be tried shall award to the prevailing party all costs and expenses thereof, including reasonable
attorneys’ fees, the usual and customary and lawfully recoverable court costs, and all other expenses in connection therewith. 
  

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 21. Consent to Jurisdiction; Waiver of Jury Trial and Other Waivers. Junior Agent and Senior Agent
each consent to the jurisdiction of any state or federal court located within the County of New York, State of New York. Each Agent waives personal service of any and all process upon it, and consents that all service of process be made in the
manner set forth in Section 19 of this Agreement for notices. Each Agent waives, to the fullest extent each may effectively do so, any defense or objection based upon forum non conveniens and any defense or objection to venue of
any action instituted within the County of New York, State of New York. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION TO ENFORCE OR DEFEND ANY MATTER ARISING FROM OR RELATED TO THIS AGREEMENT. 
 22. Governing Law. This Agreement has been delivered and accepted at and shall be deemed to have been made in the State of New York, and shall be
interpreted, and the rights and liabilities of the parties hereto determined, in accordance with the laws of the State of New York. 
 23.
Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties and their respective successors and assigns, subject to the provisions hereof. 
 24. Integrated Agreement. This Agreement sets forth the entire understanding of the parties with respect to the within matters and may not be
modified or amended except upon a writing signed by all parties. 
 25. Authority. Each of the parties hereto certifies that such
party has all necessary authority to execute this Agreement. 
 26. Counterparts. This Agreement may be executed in one or more
counterparts, each one of which when so executed shall be deemed to be an original, and all of which taken together shall constitute one and the same agreement. 
 27. Headings. The headings contained in this Agreement are for convenience only and shall not affect the interpretation of this Agreement. 
 28. Severability. Any provision of this Agreement that is prohibited by law or unenforceable shall be ineffective to the extent of such
prohibition or unenforceability, without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision. To the extent permissible, the parties waive any law that prohibits any provision of this Agreement
or renders any provision hereof unenforceable. 
 29. Conflicts. To the extent that there is a conflict or inconsistency between any
provision hereof, on the one hand, and any provision of any Senior Loan Document or any Junior Loan Document, on the other hand, this Agreement shall control and prevail. 
  

 - 29 - 

 30. Termination. This Agreement shall continue in full force and effect until the Discharge of
Senior Indebtedness shall have occurred and shall thereafter be revived to the extent provided for in Section 5.c. 
 [Remainder
of page left intentionally blank] 
  

 - 30 - 

 IN WITNESS WHEREOF, Senior Agent, for and on behalf of itself and the Senior Lenders, and Junior Agent,
for and on behalf of itself and the Junior Lenders, have caused this Agreement to be duly executed and delivered as of the date first above written. 
  

					
	 WELLS FARGO FOOTHILL, INC.,
 a
California corporation

		
	By:	 	/s/ Garrick Tan
		 	Name:	 	Garrick Tan
		 	Title:	 	Vice President

  

					
	D.B. ZWIRN SPECIAL OPPORTUNITIES FUND, L.P., a Delaware limited partnership
		
	By:	 	 D.B. Zwirn Partners, LLC,
 its general
partner

		
	By:	 	 Zwirn Holdings, LLC,
 its managing
member

							
			
		 	By:	 	/s/ Daniel B. Zwirn
		 		 	Name:	 	Daniel B. Zwirn
		 		 	Title:	 	Managing Partner

 ACKNOWLEDGMENT 
 Each Borrower and each Guarantor hereby acknowledge that they have received a copy of the foregoing Intercreditor Agreement and consent thereto, agree to
recognize all rights granted thereby to Senior Agent, the Senior Lenders, Junior Agent, and the Junior Lenders and will not do any act or perform any obligation which is not in accordance with the agreements set forth therein. Each Borrower and each
Guarantor further acknowledge and agree that they are not an intended beneficiary or third party beneficiary under this Agreement. 
 ACKNOWLEDGED AS OF
THE DATE FIRST WRITTEN ABOVE: 
  

					
	 MONOTYPE IMAGING HOLDINGS CORP.,
 a Delaware corporation

		
	By:	 	/s/ A. Bruce Johnston
		 	Name:	 	A. Bruce Johnston
		 	Title:	 	Vice President
	
	 IMAGING ACQUISITION CORPORATION,
 a
Delaware corporation

		
	By:	 	/s/ A. Bruce Johnston
		 	Name:	 	A. Bruce Johnston
		 	Title:	 	Vice President
	
	 AGFA MONOTYPE CORPORATION,
 a Delaware
corporation

		
	By:	 	/s/ A. Bruce Johnston
		 	Name:	 	A. Bruce Johnston
		 	Title:	 	Vice President
	
	INTERNATIONAL TYPEFACE CORPORATION, a New York corporation
		
	By:	 	/s/ A. Bruce Johnston
		 	Name:	 	A. Bruce Johnston
		 	Title:	 	Vice President

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