Document:

EX-4.5

 Exhibit 4.5 

DESCRIPTION OF SECURITIES 
 Cascadia
Acquisition Corp. (“we,” “our,” “us” or the “Company”) has the following three classes of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”): (i) units, each consisting of one share of Class A common stock, par value $0.0001 per share (the “Class A common stock” or “public shares”), and one-half of one
redeemable warrant, (ii) Class A common stock and (iii) redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50. In addition, this Description of Securities also
references the company’s Class B common stock, par value $0.0001 per share (the “Class B common stock” or “founder shares”), which are not registered pursuant to Section 12 of the Exchange Act but are
convertible into shares of Class A common stock. The description of the Class B common stock is included to assist in the description of the Class A common stock. Unless the context otherwise requires, references to our
“sponsor” are to Cascadia Acquisition Sponsor LLC, a Delaware limited liability company, and references to our “initial shareholders” are to our sponsor and other holders of our founder shares, as they held such shares prior to
our initial public offering (our “IPO”). 
 We are a Delaware corporation and our affairs are governed by our amended and restated certificate
of incorporation and Delaware General Corporation Law (“DGCL”). Pursuant to our amended and restated certificate of incorporation, our authorized capital stock consists of 100,000,000 shares of Class A common stock, 10,000,000 shares
of Class B common stock, and 1,000,000 shares of undesignated preferred stock, $0.0001 par value each. The following description summarizes the material terms of our capital stock. Because the below is only a summary, it may not contain all the
information that is important to you. 
 Units 
 Each
unit consists of one share of Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of
$11.50 per share, subject to adjustment as described below. Pursuant to the warrant agreement that governs the warrants (the “warrant agreement”), a warrant holder may exercise its warrants only for a whole number of shares of the
Company’s Class A common stock. This means only a whole warrant may be exercised at any given time by a warrant holder. 
 Holders have the option
to continue to hold units or separate their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate the units into shares of Class A common stock and warrants. No fractional
warrants will be issued upon separation of the units and only whole warrants will trade. 
 Common Stock 

Holders of record of our Class A common stock and Class B common stock are entitled to one vote for each share held on all matters to be voted on by
stockholders. Holders of Class A common stock and holders of Class B common stock will vote together as a single class on all matters submitted to a vote of our stockholders except as required by law. Unless specified in our amended and
restated certificate of incorporation, or as required by applicable provisions of the DGCL or applicable stock exchange rules, the affirmative vote of a majority of our shares of common stock that are voted is required to approve any such matter
voted on by our stockholders. However, only holders of shares of Class B common stock will have the right to appoint directors in any election held prior to or in connection with the completion of our initial business combination, meaning that
holders of shares of Class A common stock will not have the right to appoint any directors until after the completion of our initial business combination. In addition, prior to the completion of an initial business combination, holders of a
majority of our Class B common shares may remove a member of the board of directors for any reason. Our board of directors is divided into three classes with only one class of directors being elected in each year and each class (except for
those directors appointed prior to our first annual meeting of stockholders) serving a three-year term. There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the shares voted
for the election of directors can elect all of the directors. Our stockholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. 

 Because our amended and restated certificate of incorporation authorizes the issuance of up to 100,000,000
shares of Class A common stock, if we were to enter into a business combination, we may (depending on the terms of such a 
 business combination) be
required to increase the number of shares of Class A common stock which we are authorized to issue at the same time as our stockholders vote on the business combination to the extent we seek stockholder approval in connection with our initial
business combination. In accordance with the Nasdaq corporate governance requirements, we are not required to hold an annual meeting until no later than one year after our first full fiscal year end following our listing on the Nasdaq. Under
Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders for the purposes of electing directors in accordance with our bylaws, unless such election is made by written consent in lieu of such a meeting. We
may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business combination, and thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting.
Therefore, if our stockholders want us to hold an annual meeting prior to the consummation of our initial business combination, they may attempt to force us to hold one by submitting an application to the Delaware Court of Chancery in accordance
with Section 211(c) of the DGCL. 
 We will provide our public stockholders with the opportunity to redeem all or a portion of their public shares upon
the completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the
consummation of our initial business combination, including interest earned on the funds held in the trust account (which interest shall be net of taxes payable), divided by the number of then outstanding public shares, subject to the limitations
described herein. The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions we will pay to the representative of the underwriters upon completion of the initial
business combination. Our initial stockholders, sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares and public shares
they hold in connection with the completion of our initial business combination. Our anchor investors have agreed to waive their redemption rights with respect to any founder shares they hold in connection with the completion of our initial business
combination. 
 Unlike many special purpose acquisition companies that hold stockholder votes and conduct proxy solicitations in conjunction with their
initial business combinations and provide for related redemptions of public shares for cash upon completion of such initial business combinations even when a vote is not required by law, if a stockholder vote is not required by law and we do not
decide to hold a stockholder vote for business or other legal reasons, we will, pursuant to our amended and restated certificate of incorporation, conduct the redemptions pursuant to the tender offer rules of the SEC, and file tender offer documents
with the SEC prior to completing our initial business combination. Our amended and restated certificate of incorporation requires these tender offer documents to contain substantially the same financial and other information about our initial
business combination and the redemption rights as is required under the SEC’s proxy rules. If, however, a stockholder approval of the transaction is required by law, or we decide to obtain stockholder approval for business or other legal
reasons, we will, like many special purpose acquisition companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek stockholder approval, we will
complete our initial business combination only if a majority of the shares of common stock voted are voted in favor of our initial business combination. However, the participation of our sponsor, officers, directors or their affiliates in
privately-negotiated transactions, if any, could result in the approval of our initial business combination even if a majority of our public stockholders vote, or indicate their intention to vote, against such initial business combination. For
purposes of seeking approval of the majority of our outstanding shares of common stock, non-votes will have no effect on the approval of our initial business combination once a quorum is obtained. 

If we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination
pursuant to the tender offer rules, our amended and restated certificate of incorporation provides that a public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a
“group” (as defined under Section 13 of the Securities Exchange Act of 1934 (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in our IPO,
which we refer to as the “Excess Shares,” without our prior consent. However, we would not be restricting our stockholders’ ability to vote all of their shares (including Excess Shares) for or against our initial business combination.
Our stockholders’ inability to redeem the Excess Shares will reduce their influence over our ability to complete our initial business combination, and such stockholders could suffer a material loss in their investment if they sell such Excess
Shares on the open market. Additionally, such stockholders will not receive redemption distributions with respect to the Excess Shares if we complete our initial business combination. And, as a result, such stockholders will continue to hold that
number of shares exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss. 

  
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 If we seek stockholder approval in connection with our initial business combination, our initial
stockholders, sponsor, officers and directors have agreed to vote any founder shares they hold and any public shares purchased during or after the IPO, and our anchor investors have agreed to vote any founder shares they hold, in favor of our
initial business combination. As a result, in addition to our initial stockholders’ and anchor investors’ founder shares, we would need 5,625,001, or 37.5%, of the 15,000,000 public shares to be voted in favor of an initial business
combination in order to have our initial business combination approved (assuming all outstanding shares are voted). Additionally, each public stockholder may elect to redeem their public shares irrespective of whether they vote for or against the
proposed transaction. 
 Pursuant to our amended and restated certificate of incorporation, if we are unable to complete our initial business combination
within 18 months from the closing of our IPO, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes payable
and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive
further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, liquidate and dissolve, subject in each case
to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. Our initial stockholders have entered into agreements with us, pursuant to which they have agreed to waive their rights to
liquidating distributions from the trust account with respect to their founder shares if we fail to complete our initial business combination within 18 months from the closing of our IPO or any extended period of time that we may have to
consummate an initial business combination as a result of an amendment to our amended and restated certificate of incorporation. However, if our initial stockholders or management team acquired public shares in or acquire public shares after our
IPO, they will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our initial business combination within the prescribed time period. 

In the event of a liquidation, dissolution or winding up of the company after a business combination, our stockholders are entitled to share ratably in all
assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of shares, if any, having preference over the common stock. Our stockholders have no preemptive or other subscription rights.
There are no sinking fund provisions applicable to the common stock, except that we will provide our public stockholders with the opportunity to redeem their public shares for cash at a per share price equal to the aggregate amount then on deposit
in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes payable), divided by the number of then outstanding public shares, upon the completion of our initial business combination,
subject to the limitations described herein. 
 Class B Common Stock 

The shares of our Class B common stock are identical to the shares of Class A common stock, and holders of founder shares have the same stockholder
rights as holders of Class A common shares, except that (i) Class B common shares are subject to certain transfer restrictions, as described in more detail below, (ii) our initial stockholders, sponsor, officers and directors have
entered into a letter agreement with us, pursuant to which they have agreed (A) to waive their redemption rights with respect to any Class B common shares and Class A common shares they hold in connection with the completion of our
initial business combination, (B) to waive their redemption rights with respect to any founder shares and public shares they hold in connection with a stockholder vote to approve an amendment to our amended and restated certificate of
incorporation to modify the substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination within 18 months from the closing of our IPO or with respect to any other material
provisions relating to stockholders’ rights or pre-initial business combination activity and (C) to waive their rights to liquidating distributions from the trust account with respect to any founder
shares they hold if we fail to complete our initial business combination within 18 months from the closing of our IPO or any extended period of time that we may have to consummate an initial business combination

  
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as a result of an amendment to our amended and restated certificate of incorporation, although they will be entitled to liquidating distributions from the trust account with respect to any public
shares they hold if we fail to complete our initial business combination within such time period, (iii) the anchor investors will not be entitled to (X) redemption rights with respect to any founder shares held by them in connection with
the completion of our initial business combination, (Y) redemption rights with respect to any founder shares held by them in connection with a stockholder vote to approve an amendment to our amended and restated certificate of incorporation to
modify the substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination within 18 months from the closing of our IPO or with respect to any other material provisions relating to
stockholders’ rights or pre-initial business combination activity, or (Z) rights to liquidating distributions from the trust account with respect to any founder shares they hold if we fail to
complete our initial business combination within 18 months from the closing of our IPO or any extended period of time that we may have to consummate an initial business combination as a result of an amendment to our amended and restated certificate
of incorporation, although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within such time period and (iv) the
founder shares are automatically convertible into Class A common stock upon the consummation of our initial business combination on a one-for-one basis, subject to
adjustment as described below and in our amended and restated certificate of incorporation. If we submit our initial business combination to our public stockholders for a vote, our initial stockholders have agreed to vote their founder shares and
any public shares purchased during or after our IPO, and our anchor investors have agreed to vote any founder shares they hold, in favor of our initial business combination. 

The founder shares will automatically convert into shares of Class A common stock upon the consummation of our initial business combination on a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like, and subject to further adjustment as provided
herein. In the case that additional shares of Class A common stock or equity-linked securities are issued or deemed issued in connection with our initial business combination, the number of shares of Class A common stock issuable upon
conversion of all founder shares will equal, in the aggregate, on an as-converted basis, 20% of the total number of shares of Class A common stock outstanding after such conversion, including the total
number of shares of Class A common stock issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of
the initial business combination, excluding any shares of Class A common stock or equity-linked securities or rights exercisable for or convertible into shares of Class A common stock issued, or to be issued, to any seller in the initial
business combination, provided that such conversion of Class B common shares will never occur on a less than one-for-one basis. The term “equity-linked
securities” refers to any debt or equity securities that are convertible, exercisable or exchangeable for shares of our Class A common stock issued in a financing transaction in connection with our initial business combination, including
but not limited to a private placement of equity or debt. 
 With certain limited exceptions, the founder shares are not transferable, assignable or salable
(except to our officers and directors and other persons or entities affiliated with our sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of (A) one year after the completion of our initial business
combination or (B) subsequent to our initial business combination, (x) if the last sale price of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination, or (y) the date on which we complete a
liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other property. 

Redeemable Warrants 
 Public Stockholders’
Warrants 
 Each whole warrant entitles the registered holder to purchase one share of Class A common stock at a price of $11.50 per share,
subject to adjustment as discussed below, at any time commencing on the later of 12 months after the closing of our IPO and 30 days after the completion of our initial business combination, provided in each case that we have an effective
registration statement under the Securities Act of 1933, as amended (the “Securities Act”) covering the shares of Class A common stock issuable upon exercise of the warrants and a current prospectus relating to them is available (or
we permit holders to exercise their warrants on a cashless basis under the circumstances specified in the 

  
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warrant agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder. Pursuant to the warrant
agreement, a warrant holder may exercise its warrants only for a whole number of shares of Class A common stock. This means only a whole warrant may be exercised at a given time by a warrant holder. No fractional warrants will be issued upon
separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade a whole warrant. The warrants will expire five years after the completion of our initial
business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. 
 We will not be obligated to deliver any Class A
common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A common stock underlying the warrants is then
effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below with respect to registration. No warrant will be exercisable and we will not be obligated to issue a share of Class A common stock
upon exercise of a warrant unless the share of Class A common stock issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the
warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire
worthless. In no event will we be required to net cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price
for the unit solely for the share of Class A common stock underlying such unit. 
 We have agreed that as soon as practicable, but in no event later
than 15 business days after the closing of our initial business combination, we will use our best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A common stock issuable
upon exercise of the warrants. We will use our best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in
accordance with the provisions of the warrant agreement. If a registration statement covering the shares of Class A common stock issuable upon exercise of the warrants is not effective by the
60th business day after the closing of our initial business combination, warrant holders may, until such time as there is an effective registration statement and during any period when we
will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if our Class A
common stock are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option,
require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in
effect a registration statement, and in the event we do not so elect, we will use our best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. In such event, each holder would pay the
exercise price by surrendering the warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the warrants,
multiplied by the excess of the “fair market value” of our Class A common stock over the exercise price of the warrants by (y) the fair market value. The “fair market value” will mean the average reported closing price
of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants. 

Redemption of warrants when the price per Class A common share equals or exceeds $18.00 

Once the warrants become exercisable, we may redeem the warrants for cash: 
  

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at a price of $0.01 per warrant; 

 

	 	•	 	 upon not less than 30 days’ prior written notice of redemption (the
“30-day redemption period”) to each warrant holder; and 

  

	 	•	 	 if, and only if, the closing price of the common stock equals or exceeds $18.00 per share (as adjusted for stock
splits, stock dividends, reorganizations, recapitalizations and the like) on each of 20 trading days within a 30-trading day period commencing after the warrants become exercisable and ending three trading
days before we send to the notice of redemption to the warrant holders. 

  
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 If and when the warrants become redeemable by us for cash, we may exercise our redemption right even if we
are unable to register or qualify the underlying securities for sale under all applicable state securities laws. 
 We have established the $18.00 per share
(as adjusted) redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of
redemption of the warrants, each warrant holder will be entitled to exercise his, her or its warrant prior to the scheduled redemption date. However, the price of the Class A common stock may fall below the $18.00 redemption trigger price (as
adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) as well as the $11.50 warrant exercise price after the redemption notice is issued. 

Redemption procedures and cashless exercise 
 If we
call the warrants for redemption as described under “— Redemption of warrants when the price per Class A common share equals or exceeds $18.00”, our management team will have the option to require any holder
that wishes to exercise his, her or its warrant to do so on a “cashless basis.” If our management team takes advantage of this option, the notice of redemption will contain the information necessary to calculate the number of shares of
Class A common stock to be received upon exercise of the warrants, including the “fair market value” in such case. Requiring a cashless exercise will reduce the number of shares to be issued and thereby lessen the dilutive effect of a
warrant redemption. We believe this feature is an attractive option to us if we do not need the cash from the exercise of the warrants after our initial business combination. If we call our warrants for redemption and our management team does not
take advantage of this option, the holders of the private placement warrants and their permitted transferees would still be entitled to exercise their private placement warrants for cash or on a cashless basis using the same formula described above
that other warrant holders would have been required to use had all warrant holders been required to exercise their warrants on a cashless basis, as described in more detail below. 

A holder of a warrant may notify us in writing in the event it elects to be subject to a requirement that such holder will not have the right to exercise such
warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.9% (as specified by the holder)
of the Class A common stock outstanding immediately after giving effect to such exercise. 
 If the number of outstanding shares of Class A common
stock is increased by a stock dividend payable in shares of Class A common stock, or by a split-up of common stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will be increased in proportion to such increase in the outstanding shares of common stock. A rights
offering to holders of common stock entitling holders to purchase Class A common stock at a price less than the fair market value will be deemed a stock dividend of a number of shares of Class A common stock equal to the product of
(i) the number of shares of Class A common stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for Class A common stock)
multiplied by (ii) one (1) minus the quotient of (x) the price per share of Class A common stock paid in such rights offering and divided by (y) the fair market value. For these purposes (i) if the rights offering is
for securities convertible into or exercisable for shares of Class A common stock, in determining the price payable for Class A common stock, there will be taken into account any consideration received for such rights, as well as any
additional amount payable upon exercise or conversion and (ii) fair market value means the volume weighted average price of shares of Class A common stock as reported during the 10 trading day period ending on the trading day prior to the
first date on which the Class A common stock trades on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. 

In addition, if we, at any time while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to
the holders of Class A common stock on account of such Class A common stock (or other securities into which the warrants are convertible), other than (a) as described above, (b) any cash dividends or cash distributions which,
when combined on a per share basis with all other cash dividends and cash distributions paid on the Class A common shares during the 365-day period ending on the date of declaration of such dividend or

  
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distribution does not exceed $0.50 (as adjusted for share sub-divisions, share dividends, rights issuances, consolidations, reorganizations,
recapitalizations and other similar transactions) but only with respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50 per share, (c) to satisfy the redemption rights of the holders of
Class A common stock in connection with a proposed initial business combination, (d) to satisfy the redemption rights of the holders of Class A common stock in connection with a stockholder vote to amend our amended and restated
certificate of incorporation to modify the substance or timing of our obligation to redeem 100% of the shares of Class A common stock if the Company does not complete an initial business combination within the period set forth in our amended
and restated certificate of incorporation or with respect to any other material provisions relating to stockholders’ rights or pre-initial business combination activity, or to provide for redemption in
connection with our initial business combination, or (e) in connection with the redemption of our public shares of Class A common stock upon our failure to complete our initial business combination, then the warrant exercise price will be
decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value (as determined by our board of directors in good faith) of any securities or other assets paid on each share of Class A
common stock in respect of such event. 
 If the number of outstanding shares of Class A common stock is decreased by a consolidation, combination,
reverse share split or reclassification of Class A common stock or other similar event, then, on the effective date of such consolidation, combination, reverse share split, reclassification or similar event, the number of shares of Class A
common stock issuable on exercise of each warrant will be decreased in proportion to such decrease in outstanding share of Class A common stock. 

Whenever the number of shares of Class A common stock purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise
price will be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the number of shares of Class A common stock purchasable upon the exercise of the
warrants immediately prior to such adjustment, and (y) the denominator of which will be the number of shares of Class A common stock so purchasable immediately thereafter. 

In addition, if (x) we issue additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with
the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by our board of
directors and, in the case of any such issuance to our initial stockholders or their affiliates, without taking into account any founder shares held by our initial stockholders or such affiliates, as applicable, prior to such issuance), (the
“Newly Issued Price”) (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the
consummation of our initial business combination (net of redemptions), and (z) the volume weighted average trading price of our Class A common stock during the 20 trading day period starting on the trading day after the day on which we
consummate our initial business combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the
Newly Issued Price, and the $18.00 per share redemption trigger price described above under “— Redemption of warrants when the price per Class A common share equals or exceeds $18.00” will be adjusted (to the
nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. 
 In case of any reclassification or reorganization of the
outstanding Class A common stock (other than those described above or that solely affects the par value of such Class A common stock), or in the case of any merger or consolidation of us with or into another corporation (other than a
consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization of our outstanding Class A common stock), or in the case of any sale or conveyance to another corporation or
entity of the assets or other property of ours as an entirety or substantially as an entirety in connection with which we are dissolved, the holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the
terms and conditions specified in the warrants and in lieu of the Class A common stock immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the warrants would have received if such holder had
exercised their warrants immediately prior to such event. However, if such holders were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind
and amount of securities, cash or other assets for which each warrant will become exercisable will be deemed to be the weighted average of the 

  
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kind and amount received per share by such holders in such consolidation or merger that affirmatively make such election, and if a tender, exchange or redemption offer has been made to and
accepted by such holders (other than a tender, exchange or redemption offer made by us in connection with redemption rights held by our stockholders as provided for in our amended and restated certificate of incorporation or as a result of the
redemption of shares of Class A common stock by us if a proposed initial business combination is presented to our stockholders for approval) under circumstances in which, upon completion of such tender or exchange offer, the maker thereof,
together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule
13d-3 under the Exchange Act) more than 50% of the outstanding shares of Class A common stock, the holder of a warrant will be entitled to receive the highest amount of cash, securities or other property
to which such holder would actually have been entitled as a stockholder if such warrant holder had exercised the warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the Class A common stock held by
such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in the warrant
agreement. Additionally, if less than 70% of the consideration receivable by the holders of Class A common stock in such a transaction is payable in the form of common stock in the successor entity that is listed for trading on a national
securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the
registered holder of the warrant properly exercises the warrant within 30 days following public disclosure of the consummation of such event pursuant to a Current Report on Form 8-K filed with the
Commission, the warrant exercise price will be reduced as specified in the warrant agreement based on the Black-Scholes Warrant value (as defined in the warrant agreement) of the warrant. The purpose of such exercise price reduction is to provide
additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants pursuant to which the holders of the warrants otherwise do not receive the full potential value of the warrants. 

The warrants will be issued in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and
us. The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision, and that all other modifications or amendments will require the vote or
written consent of the holders of at least a majority of the then outstanding public warrants, and, solely with respect to any amendment to the terms of the private placement warrants, a majority of the then outstanding private placement warrants.
You should review a copy of the warrant agreement, which is filed as an exhibit to the registration statement on Form S-1 filed in connection with our IPO (the “registration statement”), for a
complete description of the terms and conditions applicable to the warrants. 
 The warrant holders do not have the rights or privileges of holders of
common stock and any voting rights until they exercise their warrants and receive Class A common stock. After the issuance of Class A common stock upon exercise of the warrants, each holder will be entitled to one vote for each share held
of record on all matters to be voted on by stockholders. 
 No fractional shares will be issued upon exercise of the warrants. If, upon exercise of the
warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number the number of shares of Class A common stock to be issued to the warrant holder. 

We have agreed that, subject to applicable law, any action, proceeding or claim against us arising out of or relating in any way to the warrant agreement will
be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and we irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive forum for any such
action, proceeding or claim. This provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim for which the federal district courts of the United States of America are the sole and exclusive
forum. 
 Dividends 
 We have not paid any cash
dividends on our common stock to date and do not intend to pay cash dividends prior to the completion of a business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital
requirements and general financial condition subsequent to completion of a business combination. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.
The payment of any cash dividends subsequent to a business combination will be within the discretion of our board of directors at such time. 

  
 - 8 - 

 Our Transfer Agent and Warrant Agent 

The transfer agent for our common stock and warrant agent for our warrants is Continental Stock Transfer & Trust Company. We have agreed to indemnify
Continental Stock Transfer & Trust Company in its roles as transfer agent and warrant agent, its agents and each of its stockholders, directors, officers and employees against all claims and losses that may arise out of acts performed or
omitted for its activities in that capacity, except for any liability due to any gross negligence or intentional misconduct of the indemnified person or entity. 

Amended and Restated Certificate of Incorporation 
 Our
amended and restated certificate of incorporation contains certain requirements and restrictions relating to our IPO that will apply to us until the completion of our initial business combination. These provisions cannot be amended without the
approval of the holders of 65% of our common stock. Our initial stockholders, who will collectively beneficially own 20% of our common stock upon the closing of our IPO (assuming they do not purchase any units in our IPO), may participate in any
vote to amend our amended and restated certificate of incorporation and will have the discretion to vote in any manner they choose. Specifically, our amended and restated certificate of incorporation provides, among other things, that: 

 

	 	•	 	 If we are unable to complete our initial business combination within 18 months from the closing of our IPO, we
will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes payable and up to $100,000 of interest to pay
dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any),
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under Delaware law to
provide for claims of creditors and in all cases subject to the requirements of other applicable law; 

  

	 	•	 	 Prior to our initial business combination, we may not issue additional securities that would entitle the holders
thereof to (i) receive funds from the trust account or (ii) vote as a class with our public shares (a) on our initial business combination or (b) to approve an amendment to our amended and restated certificate of incorporation to
(x) extend the time we have to consummate a business combination beyond 18 months from the closing of our IPO or (y) amend the foregoing provisions; 

 

	 	•	 	 Although we do not intend to enter into a business combination with a target business that is affiliated with our
sponsor, our directors or our executive officers, we are not prohibited from doing so. In the event we enter into such a transaction, we, or a committee of independent directors, may obtain an opinion from an independent investment banking firm
which is a member of FINRA or a valuation or appraisal firm that such a business combination is fair to our company from a financial point of view; 

  

	 	•	 	 If a stockholder vote on our initial business combination is not required by law and we do not decide to hold a
stockholder vote for business or other legal reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and will file tender offer documents with the SEC
prior to completing our initial business combination which contain substantially the same financial and other information about our initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act.
Whether or not we maintain our registration under the Exchange Act or our listing on the Nasdaq, we will provide our public stockholders with the opportunity to redeem their public shares by one of the two methods listed above;

  

	 	•	 	 So long as we maintain a listing for our securities on Nasdaq, Nasdaq rules require that our initial business
combination must occur with one or more operating businesses or assets with a fair market value of at least 80% of the assets held in the trust account (excluding taxes payable on the interest earned on the trust account) at the time of the
agreement to enter into the initial business combination; 

  
 - 9 - 

	 	•	 	 If our stockholders approve an amendment to our amended and restated certificate of incorporation to modify the
substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 18 months from the closing of our IPO, or with respect to any other material provisions relating to
stockholders’ rights or pre-initial business combination activity, we will provide our public stockholders with the opportunity to redeem all or a portion of their Class A common stock upon such
approval at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net
of taxes payable), divided by the number of then outstanding public shares, subject to the limitations described herein; and 

  

	 	•	 	 We will not effectuate our initial business combination with another blank check company or a similar company
with nominal operations. 

 In addition, our amended and restated certificate of incorporation provides that under no circumstances will
we redeem our public shares in an amount that would cause our net tangible assets, after payment of the deferred underwriting commissions, to be less than $5,000,001. 

Certain Anti-Takeover Provisions of Delaware Law and our Amended and Restated Certificate of Incorporation and Bylaws 

We are subject to the provisions of Section 203 of the DGCL regulating corporate takeovers. This statute prevents certain Delaware corporations, under
certain circumstances, from engaging in a “business combination” with: 
  

	 	•	 	 a stockholder who owns 15% or more of our outstanding voting stock (otherwise known as an “interested
stockholder”); 

  

	 	•	 	 an affiliate of an interested stockholder; or 

 

	 	•	 	 an associate of an interested stockholder, for three years following the date that the stockholder became an
interested stockholder. 

 A “business combination” includes a merger or sale of more than 10% of our assets. However, the above
provisions of Section 203 do not apply if: 
  

	 	•	 	 our board of directors approves the transaction that made the stockholder an “interested stockholder,”
prior to the date of the transaction; 

  

	 	•	 	 after the completion of the transaction that resulted in the stockholder becoming an interested stockholder, that
stockholder owned at least 85% of our voting stock outstanding at the time the transaction commenced, other than statutorily excluded shares of common stock; or 

 

	 	•	 	 on or subsequent to the date of the transaction, the initial business combination is approved by our board of
directors and authorized at a meeting of our stockholders, and not by written consent, by an affirmative vote of at least two-thirds of the outstanding voting stock not owned by the interested stockholder.

 Our authorized but unissued common stock and preferred stock are available for future issuances without stockholder approval and could
be utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could render
more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise. 

  
 - 10 - 

 Exclusive forum for certain lawsuits 

Our amended and restated certificate of incorporation requires, to the fullest extent permitted by law, that derivative actions brought in our name, actions
against directors, officers and employees for breach of fiduciary duty and certain other actions may be brought only in the Court of Chancery in the State of Delaware, except any action (A) as to which the Court of Chancery in the State of
Delaware determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such
determination), (B) which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery or (C) for which the Court of Chancery does not have subject matter jurisdiction. If an action is brought outside of
Delaware, the stockholder bringing the suit will be deemed to have consented to service of process on such stockholder’s counsel. Although we believe this provision benefits us by providing increased consistency in the application of law in the
types of lawsuits to which it applies, a court may determine that this provision is unenforceable, and to the extent it is enforceable, the provision may have the effect of discouraging lawsuits against our directors and officers. 

Our amended and restated certificate of incorporation provides that the exclusive forum provision will be applicable to the fullest extent permitted by
applicable law, subject to certain exceptions. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As
a result, the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. In addition, our amended and restated
certificate of incorporation provides that, unless we consent in writing to the selection of an alternative forum, the federal district courts of the United States of America shall, to the fullest extent permitted by law, be the exclusive forum for
the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended, or the rules and regulations promulgated thereunder. We note, however, that there is uncertainty as to whether a court would enforce
this provision and that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. Section 22 of the Securities Act creates concurrent jurisdiction for state and federal courts over all suits
brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. 
 Special meeting of stockholders

 Our bylaws provide that special meetings of our stockholders may be called only by a majority vote of our board of directors, by our Chief
Executive Officer or by our Chairman. 
 Advance notice requirements for stockholder proposals and director nominations 

Our bylaws provide that stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors
at our annual meeting of stockholders, must provide timely notice of their intent in writing. To be timely, a stockholder’s notice will need to be received by the company secretary at our principal executive offices not later than the close of
business on the 90th day nor earlier than the opening of business on the 120th day prior to the anniversary date of the immediately
preceding annual meeting of stockholders. Pursuant to Rule 14a-8 of the Exchange Act, proposals seeking inclusion in our annual proxy statement must comply with the notice periods contained therein. Our bylaws
also specify certain requirements as to the form and content of a stockholders’ meeting. These provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors at
our annual meeting of stockholders. 
 Action by written consent 

Subsequent to the consummation of the offering, any action required or permitted to be taken by our common stockholders must be effected by a duly called
annual or special meeting of such stockholders and may not be effected by written consent of the stockholders other than with respect to our Class B common stock. 

Classified Board of Directors 
 Our board of
directors is divided into three classes, Class I, Class II and Class III, with members of each class serving staggered three-year terms. Our amended and restated certificate of incorporation provides that the authorized number of
directors may be changed only by resolution of the board of directors. Subject to the terms of any preferred stock, any or all of the directors may be removed from office at any time, but only for cause and only by the affirmative vote of holders of
a majority of the voting power of all of the then outstanding shares of our capital stock entitled to vote 

  
 - 11 - 

 
generally in the election of directors, voting together as a single class. Any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may
be filled only by vote of a majority of our directors then in office. In most circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual meetings. 

Class B Common Stock Consent Right 
 For so
long as any shares of Class B common stock remain outstanding, we may not, without the prior vote or written consent of the holders of a majority of the shares of Class B common stock then outstanding, voting separately as a single class,
amend, alter or repeal any provision of our amended and restated certificate of incorporation, whether by merger, consolidation or otherwise, if such amendment, alteration or repeal would alter or change the powers, preferences or relative,
participating, optional or other or special rights of the Class B common stock. Any action required or permitted to be taken at any meeting of the holders of Class B common stock may be taken without a meeting, without prior notice and
without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of the outstanding Class B common stock having not less than the minimum number of votes that would be necessary to authorize
or take such action at a meeting at which all shares of Class B common stock were present and voted. 
 Listing of Securities 

Our units, Class A common stock and warrants are listed on the Nasdaq under the symbols “CCAIU,” “CCAI” and “CCAIW”,
respectively. 

  
 - 12 -Exhibit 10.1

 

Execution Version

 

AMENDMENT
NO. 5 TO CREDIT AGREEMENT, dated as of March 28, 2022 (this “Amendment”), is made and entered into by and among
BALDWIN RISK PARTNERS, LLC, a Delaware limited liability company (the “Borrower”), each of the Guarantors party hereto,
each of the entities with an Incremental Revolving Credit Commitment (as defined below) listed under the caption “Incremental
No. 2 Revolving Credit Lenders” on the signature pages hereto (each, in such capacity, an “Incremental No. 2 Revolving
Credit Lender” and, collectively, the “Incremental No. 2 Revolving Credit Lenders”), each of the Existing
Revolving Lenders (as defined below) party hereto (collectively, the “Consenting Lenders” and each, a “Consenting
Lender”) and JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”).
JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, Bank of America, N.A., Capital One, National Association, Raymond
James Bank, Morgan Stanley Senior Funding, Inc., Cadence Bank, Lake Forest Bank & Trust Company, N.A., and South State Bank, N.A.
are acting as joint lead arrangers and joint bookrunners (in such capacities, the “Amendment No. 5 Arrangers”).

 

WHEREAS,
reference is made to the Credit Agreement dated as of October 14, 2020 as amended by Amendment No. 1, dated as of May 7, 2021, Amendment
No. 2, dated as of June 2, 2021, Amendment No. 3, dated as of August 6, 2021, Amendment No. 4, dated as of December 16, 2021 and as may
be further amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among the Borrower, the Guarantors party thereto, the lenders and issuing banks from time to time party
thereto and the Administrative Agent;

 

WHEREAS,
it is intended that the Borrower will obtain the Incremental No. 2 Revolving Credit Commitments (as defined below) in the form of an
increase to the Revolving Commitments (as defined in the Credit Agreement) (the “Transactions”);

 

WHEREAS,
subject to the terms and conditions of the Credit Agreement, and pursuant to Section 2.25 of the Credit Agreement, the Borrower has requested
that (a) the Incremental No. 2 Revolving Credit Lenders provide Incremental No. 2 Revolving Credit Commitments in an aggregate principal
amount of $125,000,000, and (b) the Credit Agreement be amended pursuant to Section 2.25 and Section 11.1(b)(iv) thereof in the manner
provided for herein;

 

WHEREAS,
the Borrower has requested that the Administrative Agent and the Consenting Lenders make certain amendments to the Credit Agreement as
more fully described herein, and the Administrative Agent and Consenting Lenders (which constitute all Existing Revolving Lenders) have
agreed to permit such amendments, all subject to the terms and conditions set forth herein;

 

WHEREAS,
(a) the Incremental No. 2 Revolving Credit Lenders are willing to provide the Incremental No. 2 Revolving Credit Commitments to the Borrower
on the Amendment No. 5 Effective Date and (b) the parties hereto wish to amend the Credit Agreement on the terms and subject to the conditions
set forth herein and in the Credit Agreement;

 

WHEREAS,
upon the effectiveness of this Amendment, each Revolving Lender shall have a commitment in the amount set forth opposite such Revolving
Lender’s name on Schedule I hereto (the “Amendment No. 5 Allocation Schedule”) under the heading “Revolving
Commitment”;

 

     

    	 

    

WHEREAS,
each Revolving Lender (as defined in the Credit Agreement immediately prior to the effectiveness of this Amendment) (each an “Existing
Revolving Lender”) has agreed to the amendments contemplated by this Amendment and submitted a signature page to this Amendment.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION
1. Defined Terms; Interpretation; Etc. Capitalized terms used and not defined herein shall have the meanings assigned to
such terms in the Credit Agreement. This Amendment constitutes a “Loan Document” (as defined in the Credit Agreement).

 

SECTION
2. Incremental No. 2 Revolving Credit Commitments.

 

(a)
Incremental No. 2 Revolving Credit Commitments.

 

(i)                
Each Incremental No. 2 Revolving Credit Lender hereby agrees, severally and not jointly, to provide
an Incremental No. 2 Revolving Credit Commitment to the Borrower, effective as of the Amendment No. 5 Effective Date, in dollars in an
aggregate principal amount equal to the amount set forth opposite such Incremental No. 2 Revolving Credit Lender’s name on Schedule
I attached hereto (each, an “Incremental No. 2 Revolving Credit Commitment” and, collectively, the “Incremental
No. 2 Revolving Credit Commitments”), on the terms set forth herein and in the Credit Agreement (as amended hereby), and subject
to the conditions set forth herein. The Incremental No. 2 Revolving Credit Commitments shall be deemed to be “Revolving Commitments”
(as defined in the Credit Agreement (as amended hereby)) for all purposes of the Loan Documents having terms and provisions identical
to those applicable to the Revolving Commitments outstanding immediately prior to the Amendment No. 5 Effective Date (the “Existing
Revolving Credit Commitments”).

 

(ii)              
Notwithstanding anything to the contrary contained herein or in the Credit Agreement, from and after
the Amendment No. 5 Effective Date, the Existing Revolving Credit Commitments and the Incremental No. 2 Revolving Credit Commitments
shall constitute a single class of Commitments for all purposes under the Credit Agreement (as amended hereby).

 

(b)
Each Incremental No. 2 Revolving Credit Lender (i) confirms that a copy of the Credit Agreement and the other applicable Loan Documents,
together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate
to make its own credit analysis and decision to enter into this Amendment and provide an Incremental No. 2 Revolving Credit Commitment
have been made available to such Incremental No. 2 Revolving Credit Lender; (ii) agrees that it will, independently and without reliance
upon any other Lender or agent and based on such documents and information as it shall deem appropriate at the time, continue to make
its own credit decisions in taking or not taking action under the Credit Agreement or the other applicable Loan Documents, including
this Amendment; (iii) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise
such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof,
together with such powers as are reasonably incidental thereto; and (iv) acknowledges and agrees that upon the Amendment No. 5 Effective
Date such Incremental No. 2 Revolving Credit Lender shall be a “Lender” under, and for all purposes of, the Credit Agreement
and the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall
have all rights of a Lender thereunder.

    2 

    	 

    

SECTION
3. Amendments to Credit Agreement. 

 

(a)
The Credit Agreement is, effective as of the Amendment No. 5 Effective Date (as defined below), hereby amended to delete the stricken
text (indicated textually in the same manner as the following example: stricken text)
and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined
text) as set forth in the pages attached as Annex A hereto.

 

(b)
Schedule 1.1A-1 (solely with respect to the Revolving Commitments set forth thereon) to the Credit Agreement is hereby amended and restated
as set forth in Schedule II to this Amendment.

 

SECTION
4. Conditions Precedent to Effectiveness of Amendment. This Amendment and each Incremental No. 2 Revolving Credit Lender’s
obligation to provide the Incremental No. 2 Revolving Credit Commitments pursuant to this Amendment shall become effective as of the
date on which the following conditions precedent are satisfied (such date, the “Amendment No. 5 Effective Date”):

 

(a)
The Administrative Agent shall have received from the Borrower, each other Loan Party, each Incremental No. 2 Revolving Credit Lender
and each Consenting Lender (which together constitute all Existing Revolving Lenders) either (i) a counterpart of this Amendment duly
executed and delivered on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include facsimile
or other electronic transmission of a signed counterpart of this Amendment) that such party has duly executed and delivered a counterpart
of this Amendment.

 

(b)
The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders (including,
without limitation, the Incremental No. 2 Revolving Credit Lenders) and dated the Amendment No. 5 Effective Date) of (i) Davis Polk &
Wardwell LLP, counsel to the Loan Parties, (ii) Morris, Nichols, Arsht & Tunnell LLP, Delaware counsel to the Loan Parties and (iii)
Hill Ward Henderson, Florida counsel to the Loan Parties, in form and substance reasonably satisfactory to the Administrative Agent.

 

(c)
The Administrative Agent shall have received a certificate of each Loan Party, dated the Amendment No. 5 Effective Date and in form and
substance reasonably satisfactory to the Administrative Agent, executed by any Responsible Officer of such Loan Party, including or attaching
the documents or certifications, as applicable, referred to in paragraph (d) of this Section 4.

 

(d)
The Administrative Agent shall have received (i) as to each Loan Party, either (x) a copy of each certificate or articles of incorporation
or organization or other applicable constitutive documents of such Loan Party certified, to the extent applicable, as of a recent date
by the applicable Governmental Authority or (y) written certification by such Loan Party’s secretary, assistant secretary or other
Responsible Officer that such Loan Party’s certificate or articles of incorporation or organization or other applicable constitutive
documents most recently certified and delivered to the Administrative Agent prior to the Amendment No. 5 Effective Date pursuant to the
Loan Documents remain in full force and effect on the Amendment No. 5 Effective Date without modification or amendment since such original
delivery, (ii) as to each Loan Party, either (x) signature and incumbency certificates of the Responsible Officers of such Loan Party
executing the Loan Documents to which it is a party or (y) written certification by such Loan Party’s secretary, assistant secretary
or other Responsible Officer that such Loan

 

    3 

    	 

    

Party’s
signature and incumbency certificates most recently delivered to the Administrative Agent prior to the Amendment No. 5 Effective Date
pursuant to the Loan Documents remain true and correct as of the Amendment No. 5 Effective Date, (iii) copies of resolutions of the board
of directors and/or similar governing bodies of each Loan Party approving and authorizing the execution, delivery and performance of
the Loan Documents to which it is a party, certified as of the Amendment No. 5 Effective Date by a secretary, an assistant secretary
or a Responsible Officer of such Loan Party as being in full force and effect without modification or amendment, and (iv) a certificate
of existence or good standing (to the extent such concept exists) from the applicable Governmental Authority of each Loan Party’s
jurisdiction of incorporation, organization or formation as of a reasonably recent date.

 

(e)
The Administrative Agent shall have received for each Incremental No. 2 Revolving Credit Lender that shall have requested a promissory
note at least three (3) Business Days prior to the Amendment No. 5 Effective Date, a duly completed and executed promissory note for
such Incremental No. 2 Revolving Credit Lender.

 

(f)
The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Amendment No. 5 Effective
Date, including, to the extent invoiced at least three (3) Business Days prior to the Amendment No. 5 Effective Date, reimbursement or
payment of all out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or
paid by any Loan Party pursuant to Section 11.5 of the Credit Agreement.

 

(g)
The Administrative Agent shall have received a certificate from the chief financial officer, treasurer or other financial officer of
the Borrower certifying as to the solvency of the Borrower on a consolidated basis after giving effect to the Transactions, substantially
in the form of Schedule III hereto.

 

(h)
The Administrative Agent and Incremental No. 2 Revolving Credit Lenders shall have received, prior to the Amendment No. 5 Effective Date,
(i) all documentation and other information about the Borrower and the other Loan Parties as shall have been reasonably requested in
writing at least ten (10) Business Days prior to the Amendment No. 5 Effective Date by the Administrative Agent or such Incremental No.
2 Revolving Credit Lender that they shall have reasonably determined is required by regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including, without limitation, the USA PATRIOT Act and regulations
pertaining to beneficial ownership of legal entity customers, and (ii) to the extent the Borrower qualifies as a “legal entity
customer” under 31 C.F.R. § 1010.230 (the “Beneficial Ownership Regulation”), a customary certification
regarding beneficial ownership required by the Beneficial Ownership Regulation in relation to the Borrower to the extent requested in
writing at least five (5) Business Days prior to the Amendment No. 5 Effective Date by the Administrative Agent or such Incremental No.
2 Revolving Credit Lender.

 

(i)
The Borrower shall have paid a consent fee to the Administrative Agent, for the ratable account of the Applicable Lenders (as defined
below), equal to 0.05% of the Revolving Commitments held by such Applicable Lender immediately prior to the effectiveness of the Amendment.
“Applicable Lender” shall mean each Revolving Lender that has delivered an executed counterpart of this Amendment
prior to 12:00 p.m., New York City time, on March 28, 2022 or such later date and time specified by the Borrower and notified in writing
to the Lenders by the Administrative Agent.

 

    4 

    	 

    

(j)
Upon the effectiveness of this Amendment, no Default or Event of Default shall exist.

 

(k)
The representations and warranties in Section 5 of this Amendment shall be true and correct in all material respects, except to
the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct
in all material respects as of such earlier date.

 

(l)
The Administrative Agent shall have received a certificate of a Responsible Officer of Borrower, dated the Amendment No. 5 Effective
Date, certifying compliance with the conditions set forth in paragraphs (j) and (k) of this Section 4.

 

The Administrative
Agent shall notify the Borrower and the Lenders of the Amendment No. 5 Effective Date, and such notice shall be conclusive and binding.

 

SECTION
5. Representations and Warranties. Each Loan Party represents and warrants to the Lenders as of the Amendment No. 5 Effective
Date that:

 

(a)
Such Loan Party is duly organized (or where applicable in the relevant jurisdiction, registered
or incorporated), validly existing and (where applicable in the relevant jurisdiction) in good standing under the laws of the jurisdiction
of its organization, registration or incorporation, as the case may be, (b) has the power and authority to own and operate its property,
to lease the property it operates as lessee and to conduct the business in which it is currently engaged and (c) is in compliance with
all Requirements of Law, except in the case of clauses (a) (except as it relates to the due organization and valid existence of the Borrower),
(b) and (c) above, to the extent that the failure to comply therewith would not, in the aggregate, reasonably be expected to have a Material
Adverse Effect.

 

(b)
Such Loan Party has the power and authority, and the legal right, to enter into, make, deliver and
perform this Amendment and the other Loan Documents to which it is a party and, in the case of the Borrower, to obtain extensions of
credit hereunder. Such Loan Party has taken all necessary organizational action to authorize the execution, delivery and performance
of this Amendment and, in the case of the Borrower, to authorize the extensions of credit on the terms and conditions of this Amendment.

 

(c)
Such Loan Party has duly executed and delivered this Amendment and upon such execution, this Amendment
will constitute, a legal, valid and binding obligation of each applicable Loan Party, enforceable against each such Loan Party in accordance
with its terms, except as enforceability may be limited by such Legal Reservations.

 

(d)
Neither the execution, delivery or performance by such Loan Party of this Amendment nor compliance
with the terms and provisions hereof nor the other transactions contemplated hereby will (a) violate any Contractual Obligation of the
Borrower or any Group Member (except, individually or in the aggregate, as would not reasonably be expected to result in a Material Adverse
Effect), or violate any material Requirement of Law or the Organizational Documents of such Loan Party and (ii) result in, or require,
the creation or imposition of any Lien on any of their respective properties or revenues pursuant to any Requirement of Law, any such
Organizational Documents or any such Contractual Obligation (other than the Liens created by the Security Documents and other than any
other Permitted Liens) except, individually or in the aggregate, as would not reasonably be expected to result in a Material Adverse
Effect.

 

    5 

    	 

    

(e)
Before and after giving effect to this Amendment, each of the representations and warranties made
by such Loan Party herein or pursuant to the Loan Documents are true and correct in all material respects (except where such representations
and warranties are already qualified by materiality, in which case such representation and warranty are accurate in all respects) on
and as of the date hereof as if made on and as of the date hereof, except to the extent such representations and warranties expressly
relate to an earlier date, in which case such representations and warranties are true and correct in all material respects (except where
such representations and warranties are already qualified by materiality, in which case such representation and warranty are accurate
in all respects) as of such earlier date.

 

(f)
At the time of and after giving effect to this Amendment, no Default or Event of Default has occurred
and is continuing.

 

SECTION
6. Incremental Amendment Effective Date Reallocation.

 

(a)
Pursuant to Section 2.25(d) of the Credit Agreement, on the Amendment No. 5 Effective Date, each of the Revolving Lenders holding Existing
Revolving Credit Commitments is hereby deemed to assign to each of the Incremental No. 2 Revolving Credit Lenders pursuant to Section
11.6 of the Credit Agreement notwithstanding that no Assignment and Assumption will be executed and delivered to the Administrative Agent,
and each of the Incremental No. 2 Revolving Credit Lenders is hereby deemed to purchase from each of the Revolving Lenders holding Existing
Revolving Credit Commitments, at the principal amount thereof, such interests in the Revolving Loans outstanding on the Amendment No.
5 Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Loans
are held by the Lenders ratably in accordance with their Pro Rata Share of the Revolving Commitments after giving effect to the addition
of such Incremental No. 2 Revolving Credit Commitments to the Existing Revolving Credit Commitments.

 

(b)
With effect from and including the Amendment No. 5 Effective Date and the increase in the Revolving Commitments as contemplated hereby,
each Revolving Lender (other than any Incremental No. 2 Revolving Credit Lender), immediately prior to such increase will automatically
and without further act be deemed to have assigned to each Incremental No. 2 Revolving Credit Lender, and each Incremental No. 2 Revolving
Credit Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Lender’s participations
under the Credit Agreement in outstanding Letters of Credit such that, after giving effect to each such deemed assignment and assumption
of participations, the percentage of the aggregate outstanding participations under the Credit Agreement in Letters of Credit held by
each Lender will equal the percentage of the aggregate Revolving Commitments (after giving effect to the Incremental No. 2 Revolving
Credit Commitments) represented by such Revolving Lender’s Revolving Commitment (after giving effect to the Incremental No. 2 Revolving
Credit Commitments, if applicable). Upon the Amendment No. 5 Effective Date, the undersigned Incremental No. 2 Revolving Credit Lender
shall become a Lender under the Credit Agreement (as amended hereby) and shall have the respective Incremental No. 2 Revolving Credit
Commitments set forth next to its name on the Amendment No. 5 Allocation Schedule.

 

SECTION
7. Counterparts. This Amendment may be executed in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original, but all of which, when taken together, shall constitute a single contract. Delivery of an
executed counterpart of a signature page of this Amendment by electronic imaging shall be as effective as delivery of a manually executed
counterpart of this Amendment. The words “execution,” “signed,” “signature,” “delivery,”
and words of like import in or relating to this Amendment and the transactions contemplated hereby shall be deemed to include Electronic
Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability
as a manually executed signature,

 

    6 

    	 

    

physical
delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable
law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

 

SECTION
8. Governing Law; Submission to Jurisdiction; Waivers, Waivers of Jury Trial. The applicable law, submission to jurisdiction
and waiver provisions set forth in Sections 11.13, 11.14 and 11.18 of the Credit Agreement shall apply to this Amendment, mutatis
mutandis.

 

SECTION
9. Heading. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the
meaning hereof.

 

SECTION
10. Effect of Amendment.

 

(a)
This Amendment shall not constitute a novation of the Credit Agreement or any of the Loan Documents. Except as expressly set forth herein,
this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies
of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way
affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of
the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force
and effect. By executing and delivering a copy hereof, each Loan Party hereby consents to this Amendment and the transactions contemplated
hereby and hereby ratifies and reaffirms its respective guarantees, pledges and grants of security interests, as applicable, under and
subject to the terms of each of the Loan Documents to which it is party, and agrees that, after giving effect to this Amendment, such
guarantees, pledges and grants of security interests, and the terms of each of the Security Documents to which it is a party, shall continue
to be in full force and effect, including to secure the Obligations (including, without limitation, the loans borrowed pursuant to Incremental
No. 2 Revolving Credit Commitments). For the avoidance of doubt, on and after the Amendment No. 5 Effective Date, this Amendment shall
for all purposes constitute a “Loan Document ” and “Incremental Amendment.”

 

(b)
Upon execution and delivery hereof, the Administrative Agent will record in the Register the Incremental No. 2 Revolving Credit Commitments
made by the Incremental No. 2 Revolving Credit Lenders.

 

[Remainder
of this page intentionally left blank]

 

    7 

    	 

    

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

 

	 	BALDWIN RISK PARTNERS, LLC,                  

    a Delaware limited liability company

    as the Borrower
	 	 
	 	 
	 	By:	/s/ John Valentine
	 	 	Name:John Valentine
	 	 	Title:Authorized Representative

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

 

 

	 	Baldwin
Krystyn Sherman Partners, LLC  

BRP
Colleague Inc. 

BRP
Insurance Intermediary Holdings, LLC 

BRP
Main Street Insurance Holdings, LLC 

BRP
Medicare Insurance Holdings, LLC 

BRP
Medicare Insurance, LLC 

BRP
Medicare Insurance II, LLC 

BRP
Medicare Insurance III, LLC 

Connected
Risk Solutions, LLC 

Guided
Insurance Solutions, LLC 

BRP
Financial Services Holdings, LLC 

BKS
Financial Investments, LLC 

BRP
Securities, LLC 

League
City Office Building, LLC 

Millennial
Specialty Insurance, LLC 

BRP
Pendulum, LLC 

BKS
Venture Investments, LLC 

Armfield,
Harrison & Thomas, LLC 

BRP
Middle Market Insurance Holdings, LLC 

Insgroup,
LLC 

Insgroup
Dallas, LLC 

360
RX Solutions, LLC 

Burnham
Benefits Insurance Services, LLC 

Burnham
Gibson Wealth Advisors, LLC 

Burnham
Risk and Insurance Solutions, LLC 

BRP
Effective Coverage, LLC

CONNECTED
CAPTIVE SOLUTIONS, LLC,

THE
CAPITAL GROUP INVESTMENT ADVISORY SERVICES, LLC

AHT
GOVCONRISK, LLC 

BRP
COLLEAGUE II INC.

CONSTRUCTION
RISK PARTNERS, LLC 

PREFERRED
PROPERTY RISK PURCHASING GROUP, LLC 

PREFERRED
PROPERTY PROGRAM, LLC

as Guarantors

 

	 	By:	/s/ John Valentine
	 	 	Name:John Valentine
	 	 	Title:Authorized Representative

 

 

 

 

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

	 	JPMORGAN CHASE BANK, N.A., as Administrative Agent and a Revolving
    Lender
	 	 
	 	 
	 	By:	/s/ Edyn Hengst
	 	 	Name:Edyn Hengst
	 	 	Title:Authorized Officer

 

	 	JPMORGAN
CHASE BANK, N.A.,

as Issuing Lender

 

	 	By:	/s/ Edyn Hengst
	 	 	Name:Edyn Hengst
	 	 	Title:Authorized Officer

 

 

 

 

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

	 	Wells Fargo Bank, N.A.,

as
    Revolving Lender and as an Issuing Lender
	 	 
	 	 
	 	By:	/s/ William R. Goley
	 	 	Name:William R. Goley
	 	 	Title:Managing Director

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

 

	 	BANK OF AMERICA, N.A.,

as
    Revolving Lender and as Issuing Lender
	 	 
	 	 
	 	By:	/s/ Cameron Cardozo
	 	 	Name:Cameron Cardozo
	 	 	Title:Senior Vice President

 

 

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

 

 

 

	 	CAPITAL ONE, NATIONAL ASSOCIATION, as Incremental No. 2 Revolving
    Credit Lender
	 	 
	 	 
	 	By:	/s/ Paul Isaac
	 	 	Name:Paul Isaac
	 	 	Title:Duly Authorized Signatory
	 		 
	 	CAPITAL ONE, NATIONAL ASSOCIATION, as an Issuing Lender
	 	 
	 	 
	 	By:	/s/ Paul Isaac
	 	 	Name:Paul Isaac
	 	 	Title:Duly Authorized Signatory

 

	 	CAPITAL ONE, NATIONAL ASSOCIATION, as Revolving Lender
	 	 
	 	 
	 	By:	/s/ Paul Isaac
	 	 	Name:Paul Isaac
	 	 	Title:Duly Authorized Signatory

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

	 	Raymond James Bank, 

    as Incremental No. 2 Revolving Credit Lender
	 	 
	 	 
	 	By:	/s/ Cory Castillo
	 	 	Name:Cory Castillo
	 	 	Title:Senior Vice President

 

 

	 	Raymond James Bank, 

    as Revolving Lender
	 	 
	 	 
	 	By:	/s/ Cory Castillo
	 	 	Name:Cory Castillo
	 	 	Title:Senior Vice President

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

	 	MORGAN STANLEY SENIOR FUNDING, INC., as Incremental No. 2
    Revolving Credit Lender and as Revolving Lender
	 	 
	 	 
	 	By:	/s/ Michael King
	 	 	Name:Michael King
	 	 	Title:Vice President

 

 

 

 

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

	 	CADENCE BANK, 

as
    an Issuing Lender
	 	 
	 	 
	 	By:	/s/ Leslie Fredericks
	 	 	Name:Leslie Fredericks
	 	 	Title:SVP
	 	 	 
	 	 	 
	 	CADENCE BANK,
    

as Revolving Lender

    

	 	 
	 	 
	 	By:	/s/ Leslie Fredericks
	 	 	Name:Leslie Fredericks
	 	 	Title:SVP

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

 

 

	 	

    LAKE FOREST BANK & TRUST COMPANY, N.A., as Revolving Lender and as an Issuing Lender
	 	 
	 	 
	 	By:	/s/ Paul D. Blake
	 	 	Name:Paul D. Blake
	 	 	Title:Chief Credit Officer

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

 

	 	SouthState Bank, N.A., 

as
    Incremental No. 2 Revolving Credit Lender and a Revolving Lender
	 	 
	 	 
	 	By:	/s/ Michael R. Butler
	 	 	Name:Michael R. Butler
	 	 	Title:Senior Vice President

 

 

 

 

 

 

 

 

[Signature Page to Amendment No. 5]

     

    	 

    

Schedule
I

 

	Lender	Incremental
    No. 2 Revolving Credit Commitment
	Capital
    One, National Association	$10,000,000.00
	Raymond
    James Bank	$50,000,000.00
	Morgan
    Stanley Senior Funding, Inc.	$40,000,000.00
	South
    State Bank, N.A.	$25,000,000.00
	Total:	$125,000,000.00

 

 

 

 

     

    	 

    

Schedule
II

 

	Lender	Existing
    Revolving Commitment	Revolving
    Commitment
	JPMorgan
    Chase Bank, N.A.	$124,000,000.00	$124,000,000.00
	Wells
    Fargo Bank, National Association	$105,000,000.00	$105,000,000.00
	Bank
    of America, N.A.	$100,000,000.00	$100,000,000.00
	Capital
    One, National Association	$90,000,000.00	$100,000,000.00
	Raymond
    James Bank	$0	$50,000,000.00
	Morgan
    Stanley Senior Funding, Inc.	$0	$40,000,000.00
	Cadence
    Bank	$31,000,000.00	$31,000,000.00
	Lake
    Forest Bank & Trust Company, N.A.	$25,000,000.00	$25,000,000.00
	South
    State Bank, N.A.	$0	$25,000,000.00
	Total:	$475,000,000.00	$600,000,000.00

 

 

 

     

    	 

    

Schedule III

 

FORM OF SOLVENCY
CERTIFICATE

 

[ ], 2022

 

To the Administrative Agent and each
of the Lenders party to the Amendment referred to below:

 

I,
the undersigned chief financial officer of Baldwin Risk Partners, LLC, a Delaware limited liability company (the “Borrower”),
in that capacity only and not in my individual capacity (and without personal liability), do hereby certify as of the date hereof, and
based upon facts and circumstances as they exist as of the date hereof (and disclaiming any responsibility for changes in such facts
and circumstances after the date hereof), that:

 

1.       This
certificate is furnished to the Administrative Agent and the Lenders pursuant to Section 4(g) of the Amendment No. 5 to Credit Agreement,
dated as of March 28, 2022 (“Amendment No. 5”), among the Borrower, each Lender party thereto, each of the Guarantors
party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”), which amends that
certain

 

Credit
Agreement dated as of October 14, 2020 as amended by Amendment No. 1, dated as of May 7, 2021, Amendment No. 2, dated as of June 2, 2021,
Amendment No. 3, dated as of August 6, 2021 and Amendment No. 4, dated as of December 16, 2021 and as further amended or otherwise modified
from time to time, including by the Amendment No. 5 (the “Credit Agreement”), among the Borrower, the Guarantors,
the Lenders from time to time party thereto and the Administrative Agent. Unless otherwise defined herein, capitalized terms used in
this certificate shall have the meanings set forth in the Credit Agreement.

 

2.       For
purposes of this certificate, the terms below shall have the following definitions:

 

(a)     “Fair
Value”

 

The
amount at which the assets (both tangible and intangible), in their entirety, of the Borrower and its Subsidiaries taken as a whole would
change hands between a willing buyer and a willing seller, within a commercially reasonable period of time, each having reasonable knowledge
of the relevant facts, with neither being under any compulsion to act.

 

(b)     “Present
Fair Salable Value”

 

The
amount that could be obtained by an independent willing seller from an independent willing buyer if the assets of the Borrower and its
Subsidiaries taken as a whole are sold with reasonable promptness in an arm’s-length transaction under present conditions for the
sale of comparable business enterprises insofar as such conditions can be reasonably evaluated.

 

(c)     “Liabilities”

 

The
recorded liabilities (including contingent liabilities that would be recorded in accordance with GAAP) of the Borrower and its Subsidiaries
taken as a whole, as of the date hereof after giving effect to the consummation of the Transactions, determined in accordance with GAAP
consistently applied.

 

     

    	 

    

(d)     “Will
be able to pay their Liabilities as they mature”

 

For
the period from the date hereof through the Maturity Date, the Borrower and its Subsidiaries as a whole will have sufficient assets and
cash flow to pay their Liabilities as those liabilities mature or (in the case of contingent Liabilities) otherwise become payable, in
light of business conducted or anticipated to be conducted by the Loan Parties and in light of the anticipated credit capacity.

 

(e)     “Do
not have Unreasonably Small Capital”

 

The
Borrower and its Subsidiaries taken as a whole after consummation of the Transactions (as defined in the Amendment) is a going concern
and has sufficient capital to reasonably ensure that it will continue to be a going concern for the period from the date hereof through
the Maturity Date. I understand that “unreasonably small capital” depends upon the nature of the particular business or businesses
conducted or to be conducted, and I have reached my conclusion based on the needs and anticipated needs for capital of the business conducted
or anticipated to be conducted by the Borrower and its Subsidiaries taken as a whole and in light of the anticipated credit capacity.

 

3.       For
purposes of this certificate, I, or officers of the Borrower under my direction and supervision, have performed the following procedures
as of and for the periods set forth below.

 

(a)    
I have reviewed the financial statements most recently delivered pursuant to Section 3.23 of the Credit Agreement.

 

(b)     I
have knowledge of and have reviewed to my satisfaction the Credit Agreement.

 

(c)     As chief financial officer of the Borrower, I am familiar with the financial condition of the Borrower.

 

4.       Based
on and subject to the foregoing, I hereby certify on behalf of the Borrower that after giving effect to the consummation of the Transactions
(as defined in the Amendment), it is my opinion that (a) the Fair Value of the assets of the Borrower and its Subsidiaries taken as a
whole exceeds their Liabilities, (b) the Present Fair Salable Value of the assets of the Borrower and its Subsidiaries taken as a whole
exceeds their Liabilities; (c) the Borrower and its Subsidiaries taken as a whole does not have Unreasonably Small Capital; and (d) the
Borrower and its Subsidiaries taken as a whole will be able to pay their Liabilities as they mature.

 

*
* *

 

     

    	 

    

IN
WITNESS WHEREOF, Borrower has caused this certificate to be executed on its behalf by the undersigned chief financial officer as of the
date first written above.

 

	 	BALDWIN RISK PARTNERS, LLC
	 	 
	 	 
	 	By:	 
	 	 	Name:Brad Hale
	 	 	Title:Chief Financial Officer

 

 

 

 

 

 

 

[Signature Page to Solvency Certificate]

     

     

    

 

ANNEX A

 

 

 

CREDIT AGREEMENT

 

among

 

BALDWIN RISK PARTNERS,
LLC,

 

as Borrower,

 

the Guarantors from
time to time party hereto,

 

the several Lenders
from time to time party hereto,

 

and

 

JPMORGAN CHASE BANK,
N.A.,

as Administrative Agent

 

Dated as of October
14, 2020

 

as amended by Amendment
No. 1, dated as of May 7, 2021,

 

as amended by Amendment
No. 2, dated as of June 2, 2021,

 

as amended by Amendment
No. 3, dated as of August 6, 2021,

 

as amended by Amendment
No. 4, dated as of December 16, 2021,

 

as
amended by Amendment No. 5, dated as of March 28, 2022

 

 

 

 

JPMORGAN CHASE BANK,
N.A.,

WELLS FARGO SECURITIES,
LLC,

BOFA SECURITIES, INC.,

CAPITAL ONE, NATIONAL
ASSOCIATION

CADENCE BANK, N.A.

and

LAKE FOREST BANK
& TRUST COMPANY, N.A.,

 

as Joint Lead Arrangers
and Joint Bookrunners

 

 

WELLS FARGO SECURITIES,
LLC,

BOFA SECURITIES,
INC.,

and

CAPITAL ONE, NATIONAL
ASSOCIATION

 

as Co-Syndication
Agents

 

     

     

    

Table of Contents

 

 

	SECTION 1.	DEFINITIONS	1
	 	 	 
	1.1	Defined Terms	1
	1.2	Other Interpretive Provisions	9196
	1.3	Accounting	9297
	1.4	Limited Condition Transactions	9397
	1.5	Financial Ratio Calculations	9498
	1.6	Currency Equivalents Generally.	9499
	1.7	Treatment of Subsidiaries Prior to Joinder.	9599
	1.8	Interest Rates; Eurocurrency Notification.	95100
	1.9	Divisions.	96100
	 	 	 
	SECTION 2.	AMOUNT AND TERMS OF COMMITMENTS	96101
	 	 	 
	2.1	Term Commitments	96101
	2.2	Procedure for Borrowing Term Loans	96101
	2.3	Repayment of Term Loans	97102
	2.4	Revolving Commitments	97102
	2.5	Procedure for Borrowing of Revolving Loans	98102
	2.6	Designated Acquisition Swingline Commitment.	98103
	2.7	Procedure for Designated Acquisition Swingline Borrowing; Refunding of
    Designated Acquisition Swingline Loans.	99103
	2.8	Commitment Fees, etc	101105
	2.9	Termination or Reduction of Revolving Commitments	101106
	2.10	Optional Prepayments	101106
	2.11	Mandatory Prepayments and Commitment Reductions	102107
	2.12	Conversion and Continuation Options	105110
	2.13	Limitations on Eurocurrency and
    Term Benchmark Tranches	106111
	2.14	Interest Rates and Payment Dates	106111
	2.15	Computation of Interest and Fees	107112
	2.16	Inability to Determine Interest Rate; Illegality	107112
	2.17	Pro Rata Treatment and Payments	110117
	2.18	Requirements of Law	111118
	2.19	Taxes	112119
	2.20	[Reserved]	116123
	2.21	Indemnity	116123
	2.22	Change of Lending Office	116124
	2.23	Replacement of Lenders	116124
	2.24	Notes	117125
	2.25	Incremental Credit Extensions	117125
	2.26	Refinancing Amendments	122129
	2.27	Defaulting Lenders	124131
	2.28	Loan Modification Offers	126133
	 	 	 
	SECTION 3.	LETTERS OF CREDIT	127135
	 	 	 
	3.1	L/C Commitment	127135
	3.2	Procedure for Issuance of Letter of Credit	128136
	3.3	Fees and Other Charges	130137

     

     

    

	3.4	L/C Participations	130137
	3.5	Reimbursement Obligation of the Borrower	131138
	3.6	Obligations Absolute	132139
	3.7	Letter of Credit Payments	132140
	3.8	Applications	132140
	3.9	Letter of Credit Amounts	133140
	 	 	 
	SECTION 4.	REPRESENTATIONS AND WARRANTIES	133140
	 	 	 
	4.1	Financial Condition	133140
	4.2	No Change	133141
	4.3	Existence; Compliance with Law	133141
	4.4	Power; Authorization; Enforceable Obligations	133141
	4.5	No Legal Bar	134141
	4.6	Litigation	134142
	4.7	Ownership of Property; Liens	134142
	4.8	Intellectual Property	134142
	4.9	Taxes	135142
	4.10	Federal Regulations	135142
	4.11	Employee Benefit Plans	135142
	4.12	Affected Financial Institution. No Loan Party is an Affected Financial
    Institution.	135143
	4.13	Investment Company Act	136143
	4.14	Environmental Matters	136143
	4.15	Accuracy of Information, etc	136144
	4.16	Security Documents	137144
	4.17	Solvency	137144
	4.18	Patriot Act; FCPA; OFAC; Sanctions Laws.	137145
	 	 	 
	4.19	Status as Senior Indebtedness	138145
	 	 	 
	SECTION 5.	CONDITIONS PRECEDENT	138145
	 	 	 
	5.1	Conditions to Closing Date	138145
	5.2	Conditions to Each Borrowing Date	140147
	 	 	 
	SECTION 6.	AFFIRMATIVE COVENANTS	141148
	 	 	 
	6.1	Financial Statements	141148
	6.2	Certificates; Other Information	142149
	6.3	Payment of Taxes	144151
	6.4	Maintenance of Existence; Compliance with Law	144151
	6.5	Maintenance of Property; Insurance	144151
	6.6	Inspection of Property; Books and Records; Discussions	145152
	6.7	Notices	145152
	6.8	Environmental Laws	145153
	6.9	Additional Collateral, etc	146153
	6.10	Credit Ratings	148155
	6.11	Further Assurances	148155
	6.12	Designation of Unrestricted Subsidiaries	148155
	6.13	Employee Benefit Plans	148156
	6.14	Use of Proceeds	149156

    -ii-

     

    

	6.15	Post-Closing Matters	149156
	6.16	FCPA; OFAC	149156
	6.17	Lender Calls.	149156
	 	 	 
	SECTION 7.	NEGATIVE COVENANTS	149157
	 	 	 
	7.1	Financial Covenants	150157
	7.2	Limitation on Incurrence of Indebtedness and Issuance of Disqualified
    Stock and Preferred Stock	150157
	7.3	Limitation on Restricted Payments; Restricted Debt Payments; Investments	156163
	7.4	Dividend and Other Payment Restrictions Affecting Subsidiaries	162170
	7.5	Asset Sales	165172
	7.6	Transactions with Affiliates	166173
	7.7	Liens	169176
	7.8	Fundamental Changes	169176
	7.9	Use of Proceeds	171178
	7.10	Changes in Fiscal Periods	171178
	7.11	Negative Pledge Clauses	171178
	7.12	Lines of Business	171179
	7.13	Amendments to Organizational Documents	171179
	 	 	 
	SECTION 8.	GUARANTEE	172179
	 	 	 
	8.1	The Guarantee	172179
	8.2	Obligations Unconditional	172179
	8.3	Reinstatement	173181
	8.4	No Subrogation	173181
	8.5	Remedies	174181
	8.6	[Reserved].	174181
	8.7	Continuing Guarantee	174181
	8.8	General Limitation on Guarantor Obligations	174181
	8.9	Release of Guarantors	174182
	8.10	Right of Contribution	175182
	8.11	Keepwell	175182
	 	 	 
	SECTION 9.	EVENTS OF DEFAULT	175183
	 	 	 
	9.1	Events of Default	175183
	9.2	Action in Event of Default.	178185
	9.3	Right to Cure	179187
	9.4	Application of Proceeds	180188
	 	 	 
	SECTION 10.	ADMINISTRATIVE AGENT	181189
	 	 	 
	10.1	Appointment and Authority	181189
	10.2	Rights as a Lender	182189
	10.3	Exculpatory Provisions	182190
	10.4	Reliance by Administrative Agent	183191
	10.5	Delegation of Duties	184191
	10.6	Resignation and Removal of Administrative Agent	184191
	10.7	Certain ERISA Matters	185193

    -iii-

     

    

	10.8	No Other Duties, Etc	186194
	10.9	Administrative Agent May File Proofs of Claim.	187194
	10.10	Collateral and Guaranty Matters	187195
	10.11	Intercreditor Agreements.	189196
	10.12	Withholding Tax Indemnity	189196
	10.13	Indemnification	190197
	10.14	Appointment of Incremental Arrangers, Refinancing Arrangers and Loan Modification
    Agents	190197
	10.15	Credit Bidding	191198
	10.16	Acknowledgment of Lenders	192199
	 	 	 
	SECTION 11.	MISCELLANEOUS	193200
	 	 	 
	11.1	Amendments and Waivers	193200
	11.2	Notices	197204
	11.3	No Waiver; Cumulative Remedies	199207
	11.4	Survival of Representations and Warranties	200207
	11.5	Payment of Expenses; Indemnity; Limitation of Liability	200207
	11.6	Successors and Assigns; Participations and Assignments	202209
	11.7	[Reserved]	209216
	11.8	Adjustments; Set-off	209216
	11.9	[Reserved]	209217
	11.10	Counterparts; Electronic Execution	209217
	11.11	Severability	210218
	11.12	Integration	211218
	11.13	Governing Law	211218
	11.14	Submission To Jurisdiction; Waivers	211218
	11.15	Acknowledgements	211219
	11.16	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	212219
	11.17	Confidentiality	212219
	11.18	Waivers Of Jury Trial	213220
	11.19	USA Patriot Act Notification; Beneficial Ownership	213221
	11.20	Maximum Amount	214221
	11.21	Lender Action	214221
	11.22	No Fiduciary Duty	215222
	11.23	Acknowledgments Regarding any Supported QFCs	215222

    -iv-

     

    

	SCHEDULES:
	 
	1.1A-1	Commitments
	1.1A-2	L/C Sublimit
	1.1B	[Reserved]
	1.1C	Permitted Investments
	1.1D	Permitted Liens
	1.1G	Existing Swap Agreements
	5.1(f)	Local Counsel Opinions
	6.15	Post-Closing Undertakings
	7.2	Permitted Indebtedness
	11.2	Notice Addresses for Administrative Agent and Issuing Lenders
	 	 
	EXHIBITS: 
	 
	A	Form of Security Agreement
	B	Form of Assignment and Assumption
	C	Form of Compliance Certificate
	D	Form of Terms of Intercreditor (pari passu)
	E	Form of Prepayment Notice
	F-1	Form of Revolving Loan Note
	F-2	Form of Term Loan Note
	F-3	Form of Designated Acquisition
    Swingline Note
	G	Form of Guarantor Joinder Agreement
	H	Form of Borrowing and Conversion/Continuation Request
	I	Form of Solvency Certificate
	J	Form of Global Intercompany Note
	K-1	Form of U.S. Tax Compliance Certificate (Non-U.S. Lenders
    That Are Not Partnerships)
	K-2	Form of U.S. Tax
    Compliance Certificate (Non-U.S. Participants That Are Not Partnerships)
	K-3	Form of U.S. Tax Compliance
    Certificate (Non-U.S. Participants That Are Partnerships)
	K-4	Form of U.S. Tax Compliance
    Certificate (Non-U.S. Lenders That Are Partnerships)

    -v-

     

    

CREDIT
AGREEMENT (this “Agreement”), dated as of October 14, 2020, among Baldwin Risk Partners, LLC, a Delaware limited liability
company (the “Borrower”), the Guarantors from time to time party hereto (including through delivery of a Guarantor
Joinder Agreement in accordance with the terms of this Agreement), the several banks, financial institutions, institutional investors
and other entities from time to time party hereto as lenders (the “Lenders”), the Issuing Lenders from time to time
party hereto and JPMorgan Chase Bank, N.A. (“JPMCB”), as Administrative Agent.

 

W I T N E S S
E T H:

 

WHEREAS,
to finance a portion of the Existing Debt Release/Repayment and for other purposes described herein, the Lenders agreed to extend certain
credit facilities consisting of (i) Term Loans made available to the Borrower in an aggregate principal amount of $400,000,000 and
(ii) Revolving Commitments (which Revolving Commitments include the subfacilities as set forth herein with respect to L/C Commitments)
made available to the Borrower in an aggregate principal amount of $400,000,000;

 

WHEREAS,
the Borrower agreed to secure all of the Obligations by granting to the Administrative Agent, for the benefit of the Secured Parties,
a lien on substantially all of its assets (subject to certain limitations set forth in the Loan Documents); and

 

WHEREAS,
each Guarantor has agreed to guarantee the Obligations of the Borrower and to secure the Obligations by granting to the Administrative
Agent, for the benefit of the Secured Parties, a lien on substantially all of its assets (subject, in each case, to certain limitations
set forth in the Loan Documents).

 

NOW,
THEREFORE, the parties hereto hereby agree as follows:

 

SECTION
1.

DEFINITIONS

 

1.1  
Defined Terms. As used in this Agreement (including the recitals hereof), the terms
listed in this Section 1.1 shall have the respective meanings set forth in this Section 1.1.

 

“2022
Revolving Commitments”: as to any Lender,
the obligation of such Lender, if any, to make Revolving Loans and participate in Designated Acquisition Swingline Loans and Letters
of Credit in an aggregate principal and/or face amount not to exceed the amount set forth under the heading “Revolving Commitment”
opposite such Lender’s name on Schedule II to Amendment No. 5
or in the Assignment and Assumption, Refinancing
Amendment or Incremental Amendment pursuant to which such Lender became a party hereto, as applicable, as the same may be changed from
time to time pursuant to the terms hereof. The Revolving Commitments shall include all Incremental No.
2 Revolving Credit Commitments. The aggregate amount of the Revolving Lenders’ 2022 Revolving Credit Commitments (including the
Incremental No. 2 Revolving Credit Commitments) on the Amendment No. 5 Effective Date is $600,000,000.

 

“ABR
Loans”: Loans the rate of interest applicable to which is based upon the Alternate Base Rate.

 

“Acceptable
Price”: as defined in the definition of “Dutch Auction.”

 

“Accepting
Lenders”: as defined in Section 2.28(a).

 

     

     

    

“Acquired
Indebtedness”: with respect to any specified Person:

 

(a)  
Indebtedness of any other Person existing at the time such other Person is merged, amalgamated or consolidated with or into or
became a Restricted Subsidiary of such specified Person whether or not such Indebtedness is Incurred in connection with, or in contemplation
of, such other Person merging, amalgamating or consolidating with or into, or becoming a Restricted Subsidiary of such specified Person;
and

 

(b)  
Indebtedness secured by a Lien encumbering any asset acquired by such specified Person;

 

provided
that any Indebtedness of such Person that is extinguished, redeemed, defeased, retired or otherwise repaid at the time of or immediately
upon consummation of the transaction pursuant to which such other Person becomes a Subsidiary of the specified Person will not be Acquired
Indebtedness.

 

“Additional
ECF Reduction Amounts”: for any Excess Cash Flow Period, the sum, without duplication, of:

 

(a)  
without duplication of amounts included in the Additional ECF Reduction Amount in prior fiscal years, the aggregate amount actually
paid by the Borrower and the Restricted Subsidiaries in cash during such Excess Cash Flow Period on account of Capital Expenditures (excluding
(x) the principal amount of Indebtedness Incurred in connection with such expenditures (other than Indebtedness under any revolving facility)
and (y) Capital Expenditures made in such Excess Cash Flow Period where a certificate in the form contemplated by the following clause (b)
below was previously delivered); and

 

(b)  
without duplication of amounts included in the Additional ECF Reduction Amount in prior fiscal years, the aggregate amount of
Capital Expenditures, Permitted Acquisitions and other Permitted Investments (other than with respect to Investments made pursuant to
clause (1) or (2) of the definition thereof) permitted hereunder that any Group Member shall, during such Excess Cash Flow
Period (or following such period and prior to the applicable Excess Cash Flow Application Date), become committed to be made (including
pursuant to any letter of intent); provided that the Borrower shall deliver an Officer’s Certificate to the Administrative
Agent not later than such Excess Cash Flow Application Date, certifying that such Capital Expenditure, Permitted Acquisition or other
Investment permitted hereunder, as applicable, will be made (or is reasonably expected to be made) in the following Excess Cash Flow
Period; provided, further, however, that if such Capital Expenditure, Permitted Acquisition or other Investment permitted hereunder,
as applicable, are not actually made in cash after the end of such Excess Cash Flow Period, such amount shall be added back to Excess
Cash Flow for the subsequent Excess Cash Flow Period.

 

“Additional
Lender”: at any time, any bank or other financial institution that agrees to provide any portion of any (a) Revolving
Commitment Increase, Additional/Replacement Revolving Commitments or Incremental Term Loans pursuant to an Incremental Amendment in accordance
with Section 2.25 or (b) Permitted Credit Agreement Refinancing Debt pursuant to a Refinancing Amendment in accordance
with Section 2.26; provided that (i) the Administrative Agent, each Issuing Lender and the Designated Acquisition
Swingline Lender shall have consented (not to be unreasonably withheld, conditioned or delayed) to such Additional Lender if such consent
would be required under Section 11.6(b) for an assignment of Loans or Revolving Commitments, as applicable, to such Additional
Lender, (ii) the Borrower shall have consented to such Additional Lender, (iii) if such Additional Lender is an Affiliated
Lender, such Additional Lender must comply with the limitations and restrictions set forth in Section 11.6(b)(iv) and (iv) such
Additional Lender will become a party to this Agreement.

 

    2 

     

    

“Additional
Incremental Term B-1 Lender” means a Person with an Additional Incremental Term B-1 Loan Commitment to make Additional Incremental
Term B-1 Loans to the Borrower on the Amendment No. 4 Effective Date. For the avoidance of doubt, each Additional Incremental Term B-1
Lender is an Additional Lender.

 

“Additional
Incremental Term B-1 Loan Commitment” means, with respect to an Additional Incremental Term B-1 Lender, the commitment of such
Additional Incremental Term B-1 Lender to make an Additional Incremental Term B-1 Loan on the Amendment No. 4 Effective Date, in the
amount set forth on Schedule I to Amendment No. 4. The aggregate amount of the Additional Incremental Term B-1 Loan Commitments of all
Additional Incremental Term B-1 Lenders on the Amendment No. 4 Effective Date equals $350,000,000. For the avoidance of doubt, each Additional
Incremental Term B-1 Loan Commitment is an Incremental Term Commitment.

 

“Additional
Incremental Term B-1 Loans” means a Term Loan that is made pursuant to Section 3 of Amendment No. 4. For the avoidance of doubt,
each Additional Incremental Term B-1 Loan is an Incremental Term Loan.

 

“Additional/Replacement
Revolving Commitments”: as defined in Section 2.25(a).

 

“Additional
Term B-1 Lender” shall mean a Person with an Additional Term B-1 Loan Commitment on the Amendment No. 2 Effective Date.

 

“Additional
Term B-1 Loan” shall mean a Term Loan in Dollars that is made pursuant to Section 2.1(b)(ii) on the Amendment No. 2
Effective Date.

 

“Additional
Term B-1 Loan Commitment” shall mean, with respect to an Additional Term B-1 Lender, the commitment of such Additional Term
B-1 Lender to make Additional Term B-1 Loans on the Amendment No. 2 Effective Date, in an amount set forth on the Amendment No. 2 Allocation
Schedule.

 

“Adjusted
Daily Simple SOFR” means an interest rate per annum equal to (a) the Daily Simple SOFR, plus 0.10%; provided that
if the Adjusted Daily Simple SOFR Rate as so determined would be less than 0.00%, such rate shall be deemed to be equal to 0.00% for
the purposes of this Agreement. 

 

“Adjusted
LIBO Rate” means the Eurocurrency Rate, as adjusted for statutory reserve requirements for eurocurrency liabilities.

 

“Adjusted
Term SOFR Rate” means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period,
plus 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than 0.00%, such rate shall be
deemed to be equal to 0.00% for the purposes of this Agreement.

 

“Administrative
Agent”: JPMorgan Chase Bank, N.A., as the administrative agent for the Lenders this Agreement and the other Loan Documents,
together with any of its successors in such capacity.

 

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

 

“Affiliate”:
with respect to any specified Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings,
the terms “controlling”,

 

    3 

     

    

“controlled
by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly,
of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities,
by agreement or otherwise.

 

“Affiliate
Transaction” as defined in Section 7.6(a).

 

“Affiliated
Lender”: any Debt Fund Affiliate or Non-Debt Fund Affiliate.

 

“Aggregate
Exposure”: with respect to any Lender at any time, an amount equal to (a) until the Closing Date, the aggregate Dollar
Equivalent of the amount of such Lender’s Commitments at such time and (b) thereafter, the sum of (i) the aggregate Dollar
Equivalent of the then unpaid principal amount of such Lender’s Term Loans and (ii) the amount of such Lender’s Revolving
Commitment then in effect or, if the Revolving Commitments have been terminated, the amount of such Lender’s Revolving Extensions
of Credit then outstanding.

 

“Aggregate
Exposure Percentage”: with respect to any Lender at any time, the ratio (expressed as a percentage) of such Lender’s
Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time.

 

“Agreement”:
as defined in the preamble hereto.

 

“All-In
Yield” means, as to any Indebtedness, the yield thereof, whether in the form of interest rate, margin, original issue discount,
upfront fees, interest rate floors, or otherwise, in each case, incurred or payable by the borrower generally to all the lenders of such
Indebtedness; provided that upfront fees and original issue discount shall be equated to interest rate based upon an assumed four year
average life to maturity on a straight-line basis (e.g. 100 basis points of original issue discount equals 25 basis points of interest
rate margin for a four year average life to maturity); provided, further, that “All-In Yield” shall exclude any structuring,
commitment, underwriting, ticking and arranger fees, other similar fees and, if applicable, consent fees for an amendment (in each case
regardless of whether any such fees are paid to or shared in whole or in part with any lender) or other fees not paid generally to all
lenders ratably in the primary syndication of such Indebtedness.

 

“ALTA”:
the American Land Title Association.

 

“Alternate
Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the
NYFRB Rate in effect on such day plus 1⁄2 of 1% and (c) either (x) the
Adjusted LIBO Rate for a one month Interest Period on such day (or if such
day is not a Business Day, the immediately preceding Business Day) plus 1% or (y) solely with respect to Revolving Loans from and after
the Amendment No. 5 Effective Date, the Adjusted Term SOFR Rate for a one-month Interest Period on such day (or if such day
is not a Business Day, the immediately preceding Business Day) plus 1%; provided that for the purpose of this definition, the Adjusted
LIBO Rate for any day shall be based on the LIBO Screen Rate (or if the LIBO Screen Rate is not available for such one month Interest
Period, the Interpolated Rate) at approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a change
in the Prime Rate, the NYFRB Rate or,
the Adjusted LIBO Rate or the Adjusted Term SOFR Rate
shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or,
the Adjusted LIBO Rate or the Adjusted Term SOFR Rate,
respectively. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to Section 2.16 (for the avoidance of
doubt, only until the Benchmark Replacement has been determined pursuant to
Section 2.16(i)(c)
or 2.16(ii)(b)), then the Alternate Base Rate shall be the greater of clauses (a) and (b) above and shall be determined
without reference to clause (c) above. For the avoidance of doubt, (x) with respect to any Revolving Loan, if the Alternate Base Rate
as determined pursuant to the foregoing

 

    4 

     

    

would
be less than 1.00%, such rate shall be deemed to be 1.00% for purposes of this Agreement and (y) with respect to any Term Loan, if the
Alternate Base Rate as determined pursuant to the foregoing would be less than 1.50%, such rate shall be deemed to be 1.50% for purposes
of this Agreement.

 

“Alternative
Currency”: each of Euro, British Pounds Sterling and Canadian Dollars.

 

“Alternative
Currency Letter of Credit” means a Letter of Credit denominated in an Alternative Currency.

 

“Amendment
No. 1” shall mean Amendment No. 1 to this Agreement, dated as of May 7, 2021.

 

“Amendment
No. 2” shall mean Amendment No. 2 to this Agreement, dated as of June 2, 2021.

 

“Amendment
No. 2 Allocation Schedule” shall have the meaning provided in Amendment No. 2.

 

“Amendment
No. 2 Arrangers” shall have the meaning provided in Amendment No. 2.

 

“Amendment
No. 2 Effective Date” shall mean June 2, 2021, the first Business Day on which all conditions precedent set forth in Section
3 of Amendment No. 2 are satisfied.

 

“Amendment
No. 3” shall mean Amendment No. 3 to this Agreement, dated as of August 6, 2021.

 

“Amendment
No. 3 Effective Date” means the date on which the conditions precedent set forth in Section 5 of the Amendment No. 3 were satisfied
or waived in accordance therewith.

 

“Amendment
No. 4” shall mean Amendment No. 4 to this Agreement, dated as of December 16, 2021.

 

“Amendment
No. 4 Arrangers” shall have the meaning provided in Amendment No. 4.

 

“Amendment
No. 4 Effective Date” shall mean December 16, 2021, the first Business Day on which all conditions precedent set forth in Section
4 of Amendment No. 4 are satisfied.

 

“Amendment
No. 5” shall mean Amendment No. 5 to this Agreement, dated as of March 28, 2022.

 

“Amendment
No. 5 Arrangers” shall have the meaning provided in Amendment No. 5.

 

“Amendment
No. 5 Effective Date” shall mean March 28, 2022, the first Business Day on which all conditions precedent set forth in Section
4 of Amendment No. 5 are satisfied. 

 

“Ancillary
Document”: as defined in Section 11.10.

 

“Anti-Corruption
Laws”: Laws relating to anti-bribery or anti-corruption, including Laws that prohibit the corrupt payment, offer, promise,
receipt, request or authorization of the payment or transfer of anything of value (including gifts or entertainment), directly or indirectly,
including the U.S. Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act of 2010, and any other Law that relates to anti-bribery
or anti-corruption.

 

“Applicable
Discount”: as defined in the definition of “Dutch Auction.”

 

    5 

     

    

“Applicable
Margin”: with respect to:

 

(a)  
any Revolving Loan, (i) initially, 2.00% per annum in the case of Eurocurrency Loans
and Term Benchmark Loans
and 1.00% per annum in the case of ABR Loans and (ii) from and after the first Business
Day immediately following the delivery to the Administrative Agent of a Compliance Certificate (pursuant to Section 6.2(c)),
commencing with the first full fiscal quarter of the Borrower ending after the Closing Date, wherein the Total Net Leverage Ratio, determined
on a Pro Forma Basis as of the last day of the most recently ended Test Period, is (A) greater than 3.75 to 1.00, 3.00% per annum
in the case of Eurocurrency Loans and Term Benchmark Loans and
2.00% per annum in the case of ABR Loans, (B) less than or equal to 3.75 to 1.00 but greater than 3.00 to 1.00, 2.50% per
annum in the case of Eurocurrency Loans and Term Benchmark Loans
and 1.50% per annum in the case of ABR Loans, (C) less than or equal to 3.00 to 1.00 but greater
than 2.50 to 1.00, 2.25% per annum in the case of Eurocurrency Loans and Term
Benchmark Loans and 1.25% per
annum in the case of ABR Loans and (D) less than or equal to 2.50 to 1.00, 2.00% per annum in the case of Eurocurrency Loans and
Term Benchmark Loans and
1.00% per annum in the case of ABR Loans;

 

(b)  
(i) any Initial Term Loan, 4.00% per annum in the case of Eurocurrency Loans and 3.00% per annum in the case of ABR Loans and
(ii) any Term B-1 Loans, 3.50% per annum in the case of Eurocurrency Loans and 2.50% per annum in the case of ABR Loans;

 

(c)  
any Incremental Term Loan, the Applicable Margin shall be as set forth in the Incremental Amendment relating to the Incremental
Term Commitment in respect of such Incremental Term Loan;

 

(d)  
any Other Term Loan or any Other Revolving Loan, the Applicable Margin shall be as set forth in the Refinancing Amendment relating
to such Loan; and

 

(e)  
any Extended Term Loan or any Extended Revolving Loan, the Applicable Margin shall be as set forth in the Loan Modification Agreement
relating to such Loan.

 

Any
increase or decrease in the Applicable Margin resulting from a change in the Total Net Leverage Ratio shall become effective as of the
first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.2(c); provided
that the pricing level as set forth above in clause (a)(ii)(A) shall apply as of the first Business Day after the date
on which a Compliance Certificate was required to have been delivered but was not delivered, and shall continue to so apply to and including
the date on which such Compliance Certificate is so delivered (and thereafter the pricing level otherwise determined in accordance with
this definition shall apply).

 

In
the event that any financial statements delivered pursuant to Section 6.1 or a Compliance Certificate delivered pursuant
to Section 6.2(c) are shown to be inaccurate at any time that this Agreement is in effect and any Loans or Commitments are
outstanding hereunder when such inaccuracy is discovered and such inaccuracy, if corrected, would have led to a higher Applicable Margin
for any period (an “Applicable Period”) than the Applicable Margin applied for such Applicable Period, then (i) the
Borrower shall promptly (and in no event later than five (5) Business Days thereafter) deliver to the Administrative Agent a correct
Compliance Certificate for such Applicable Period, (ii) from and after the date such corrected Compliance Certificate is delivered,
the Applicable Margin shall be determined by reference to the corrected Compliance Certificate (but in no event shall the Lenders owe
any amounts to the Borrower) and (iii) the Borrower shall pay to the Administrative Agent promptly (and in no event later than ten Business
Days after knowledge by the chief financial officer or treasurer of the Borrower that such payment is due) any additional interest owing
as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Administrative
Agent in

 

    6 

     

    

accordance
with the terms hereof. This paragraph will not limit the rights of the Administrative Agent or the Lenders hereunder. Notwithstanding
anything to the contrary in this Agreement, any additional interest hereunder shall not be due and payable until such payment is due
pursuant to clause (iii) above and accordingly, any nonpayment of such interest as a result of any such inaccuracy shall not constitute
a Default (whether retroactively or otherwise), and no such amounts shall be deemed overdue (and no amounts shall accrue interest at
the default rate set forth in Section 2.14(cd)),
at any time prior to the date that is ten Business Days following such knowledge by the chief financial officer or treasurer of the Borrower.

 

“Applicable
Period” as defined in the definition of “Applicable Margin.”

 

“Applicable
Requirements”: in respect of any Indebtedness, Indebtedness that satisfies the following requirements:

 

(a)  
subject to the Permitted Earlier Maturity Indebtedness Exception, such Indebtedness (x) except in connection with a Qualifying
Bridge Facility, does not mature prior to the then Latest Maturity Date applicable to outstanding Term Loans, does not have any greater
scheduled amortization than that which is applicable to the Term Loans and is not subject to mandatory redemption or prepayment (except,
in each case, (i) customary asset sale or change of control provisions or (ii) other mandatory redemptions that are also made or offered,
on a pro rata basis, to holders of outstanding Term Loans that are First Lien Obligations) and (y) except in connection with
a customary high-yield bridge facility, so long as the long-term debt into which any such customary bridge facility is to be converted
or exchanged satisfies this clause (a) and any such conversion or exchange is subject only to customary conditions for similar conversions
or exchanges (a “Qualifying Bridge Facility”), does not have a Weighted Average Life to Maturity shorter than the
Weighted Average Life to Maturity of any then outstanding Term Loans (without giving effect to any prepayments that would otherwise modify
the Weighted Average Life to Maturity of the Term Loans);

 

(b)  
if such Indebtedness is secured by the Collateral, a Senior Representative acting on behalf of the holders of such Indebtedness
has become, or is, party to an Intercreditor Agreement, which results in such Senior Representative having rights to share in the Collateral
on a pari passu or junior basis, as applicable;

 

(c)  
to the extent such Indebtedness is secured, it is not secured by any property or assets of any Loan Party or any other Restricted
Subsidiary (other than the Collateral except for exclusions with respect to cash collateral customary for pre-funded (and similar) letter
of credit facilities, as applicable and Escrowed Proceeds) (it being agreed that such Indebtedness shall not be required to be secured
by all of the Collateral); provided that Indebtedness that may be Incurred by Non-Guarantor Subsidiaries pursuant to Section
7.2 may be secured by assets of Non-Guarantor Subsidiaries;

 

(d)  
if such Indebtedness is Incurred by (i) any Non-Guarantor Subsidiary, such Indebtedness shall not be guaranteed by any Loan Party
or (ii) the Borrower or any Guarantor, such Indebtedness shall not be guaranteed by any Person other than the Borrower or Guarantors;
and

 

(e)  
the other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors, discounts, premiums, optional prepayment
or optional redemption provisions and financial covenants), if more restrictive on the Group Members, taken as a whole, than the terms
of the Initial Term Loans or the Revolving Commitments in existence as of the Closing Date, as applicable, are reasonably satisfactory
to the Administrative Agent, it being understood and agreed that the determination as to whether such terms and conditions are more restrictive
on the Group Members, taken as a whole, than the terms of the Initial Term Loans or the Revolving Commitments in existence as of the

 

    7 

     

    

Closing
Date, as applicable, shall exclude any terms and conditions which are (1) only applicable after the Latest Maturity Date and/or (2) incorporated
into this Agreement (or any other applicable Loan Document) pursuant to an amendment executed by the Administrative Agent and the Borrower
for the benefit of all existing Lenders (to the extent applicable), it being understood and agreed that such amendment shall require
no additional consent;

 

provided
that if an Officer’s Certificate signed on behalf of the Borrower delivered to the Administrative Agent for posting to the
Lenders at least five (5) Business Days (or a shorter period acceptable to the Administrative Agent) prior to the Incurrence of such
Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of
the documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the
requirements of this definition, and the Required Lenders shall not have notified the Borrower and the Administrative Agent that they
disagree with such determination within such five (5) Business Day period (including a statement of the basis upon which each such Lender
disagrees), then such certificate shall be conclusive evidence that such terms and conditions satisfy the requirements of this definition.

 

“Applicable
Tax Laws” shall mean the Code and any other applicable Requirement of Law relating to Taxes, as in effect from time to time.

 

“Application”:
an application, in such form as the applicable Issuing Lender may specify from time to time, requesting such Issuing Lender to issue
a Letter of Credit.

 

“Approved
Commercial Bank”: a commercial bank with a consolidated combined capital and surplus of at least $5,000,000,000.

 

“Approved
Electronic Communications”: as defined in Section 11.2.

 

“Approved
Fund”: as defined in Section 11.6.

 

“Asset
Sale”:

 

(1)  
the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions) of property
or assets (including by way of a Sale Leaseback Transaction) of the Borrower or any Restricted Subsidiary (each referred to in this definition
as a “disposition”); or

 

(2)  
the issuance or sale of Equity Interests of any Restricted Subsidiary (other than, in each case, (x) directors’ qualifying
shares or shares or interests required to be held by non-U.S. nationals or other third parties to the extent required by applicable law
or (y) Preferred Stock or Disqualified Stock of a Restricted Subsidiary issued in compliance with Section 7.2), other
than by any Restricted Subsidiary to the Borrower or another Restricted Subsidiary (whether in a single transaction or a series of related
transactions), in each case other than:

 

(a)  
a sale, exchange, transfer or other disposition of Cash Equivalents or Investment Grade Securities or uneconomical, obsolete,
damaged, unnecessary, surplus, unsuitable or worn out equipment or any sale or disposition of property or assets in connection with scheduled
turnarounds, maintenance and equipment and facility updates or any disposition of inventory or goods (or other assets) held for sale
or no longer used in the ordinary course of business;

 

    8 

     

    

(b)  
the sale, conveyance, transfer or other disposition of all or substantially all of the assets of the Borrower and its Restricted
Subsidiaries (on a consolidated basis) in a manner pursuant to Section 7.8;

 

(c)  
any Permitted Investment or Restricted Payment that is permitted to be made, and is made, under Section 7.3;

 

(d)  
any disposition of assets of the Borrower or any Restricted Subsidiary, or the issuance or sale of Equity Interests of any Restricted
Subsidiary, with an aggregate Fair Market Value of less than the greater of $11,250,000 and 15.0% of Consolidated EBITDA determined on
a Pro Forma Basis as of the most recently ended Test Period;

 

(e)  
(i) any transfer or disposition of property or assets by a Restricted Subsidiary to the Borrower or (ii) by the Borrower
or a Restricted Subsidiary to a Restricted Subsidiary;

 

(f)  
sales of assets received by the Borrower or any Restricted Subsidiary upon the foreclosure on a Lien;

 

(g)  
any issuance or sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary or any joint venture
that is not a Subsidiary of the Borrower;

 

(h)  
the unwinding of any Hedging Obligations;

 

(i)  
the sale, lease, assignment, license or sublease of inventory, equipment, accounts receivable, notes receivable or other current
assets held for sale, lease, assignment, license or sublease in the ordinary course of business or the conversion of accounts receivable
into a notes receivable;

 

(j)  
the lease, assignment or sublease of any real or personal property in the ordinary course of business and dispositions to landlords
of improvements made to leased real property pursuant to customary terms of leases;

 

(k)  
a sale of accounts receivable and related assets of the type specified in the definition of “Receivables Financing”
to a Receivables Subsidiary in a Qualified Receivables Financing or in factoring or similar transactions;

 

(l)  
a transfer of accounts receivable and related assets of the type specified in the definition of “Receivables Financing”
(or a fractional undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Financing;

 

(m)  
any financing transaction with respect to property owned, built or acquired by the Borrower or any Restricted Subsidiary, including
Sale Leaseback Transactions permitted under this Agreement;

 

(n)  
any exchange of assets for assets (including a combination of assets and Cash Equivalents) related to a Similar Business of comparable
or greater market value or usefulness to the business of the Borrower and the Restricted Subsidiaries, as a whole, as determined in good
faith by the Borrower;

 

(o)  
the grant of any license or sub-license of patents, trademarks, know-how and any other intellectual property in the ordinary course
of business or which do not materially interfere with the ordinary conduct of the business of the Borrower or any Restricted Subsidiary;

 

    9 

     

    

(p)  
any sale or other disposition deemed to occur with creating, granting or perfecting a Lien not otherwise prohibited by this Agreement
or the Loan Documents;

 

(q)  
the surrender or waiver of contract rights or settlement, release or surrender of a contract, tort or other litigation claim in
the ordinary course of business;

 

(r)  
foreclosures, condemnations or any similar action on assets;

 

(s)  
sales of any non-core assets to obtain the approval of an anti-trust authority to a Permitted Acquisition or other permitted Investment;

 

(t)  
sales, transfers and other dispositions of Investments in joint ventures to the extent required by, or made pursuant to, customary
buy/sell arrangements between the joint venture parties set forth in joint venture arrangements and similar binding arrangements;

 

(u)  
transfers of property pursuant to a Recovery Event; and

 

(v)  
the lapse, abandonment or other disposition of intellectual property rights in the ordinary course of business, which in the reasonable
good faith determination of the Borrower are no longer commercially reasonable to maintain or are not material to the conduct of the
business of the Borrower and the Restricted Subsidiaries taken as a whole.

 

For
purposes of determining compliance with Section 7.5, in the event that any disposition (or any portion thereof) meets the criteria
of more than one of the above categories or of the categories under Section 7.5 (including in part of one category and in part
of another category), the Borrower shall, in its sole discretion, at the time of making such disposition, divide and/or classify such
disposition (or any portion thereof) in one or more of the above categories or in any category under Section 7.5 (including in
part in one category and in part in another category).

 

“Assignee”:
as defined in Section 11.6(b)(i).

 

“Assignment
and Assumption”: an Assignment and Assumption, substantially in the form of Exhibit B, or such other form acceptable
to the Administrative Agent.

 

“Auction
Purchase”: a purchase of Loans or Commitments pursuant to a Dutch Auction (x) in the case of a Permitted Auction Purchaser,
in accordance with the provisions of Section 11.6(b)(iii) or (y) in the case of an Affiliated Lender, in accordance
with the provisions of Section 11.6(b)(iv).

 

“Available
Amount”: means, at any time, the sum of:

 

		(A)	if
                                            positive, 50% of the Consolidated Net Income of the Borrower for the period (taken as one
                                            accounting period) from October 1, 2020 to the end of the most recently ended Test Period,
                                            plus

 

		(B)	100%
                                            of the aggregate net proceeds, including cash and the Fair Market Value of assets other than
                                            cash, received by the Borrower after the Closing Date from (1) the issue or sale of
                                            Equity Interests of the Borrower or (2) the issue or sale of Equity Interests of any
                                            direct or indirect parent of the Borrower (in the case of both (1) and (2) other than (without
                                            duplication) any Cure Amount, Refunding Capital Stock, Designated Preferred Stock, Cash Contribution
                                            Amount, Excluded Contributions and Disqualified Stock), including Equity Interests issued
                                            upon

 

    10 

     

    

conversion
of Indebtedness or upon exercise of warrants or options (other than an issuance or sale to a Restricted Subsidiary or an employee stock
ownership plan or trust established by the Borrower or any of its Subsidiaries), plus

 

		(C)	100%
                                            of the aggregate amount of contributions to the common or preferred (if preferred, on terms
                                            substantially the same (or better for the Borrower) as the Existing Preferred Equity; provided
                                            that in no event shall preferred contributions have a final scheduled maturity date or
                                            any required payment prior the Latest Maturity Date) capital of the Borrower received in
                                            cash and the Fair Market Value of property other than cash after the Closing Date (other
                                            than (without duplication) any Cure Amount, Excluded Contributions, Refunding Capital Stock,
                                            Designated Preferred Stock and Disqualified Stock and the Cash Contribution Amount), plus

 

		(D)	the
                                            principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase
                                            price, as the case may be, of any Disqualified Stock, of the Borrower or any Restricted Subsidiary
                                            thereof issued after the Closing Date (other than any Indebtedness or Disqualified Stock
                                            issued to the Borrower or any Restricted Subsidiary) that has been converted into or exchanged
                                            for Equity Interests in the Borrower or any direct or indirect parent of the Borrower (other
                                            than Disqualified Stock), plus

 

		(E)	100%
                                            of the aggregate amount received by the Borrower or any Restricted Subsidiary in cash and
                                            the Fair Market Value of property other than cash received by the Borrower or any Restricted
                                            Subsidiary from:

 

		(I)	the
                                            sale or other disposition (other than to the Borrower or a Restricted Subsidiary) of Investments
                                            made by the Borrower and the Restricted Subsidiaries after the Closing Date the permissibility
                                            of which was contingent upon the utilization of the Available Amount and from repurchases
                                            and redemptions of such Investments from the Borrower and the Restricted Subsidiaries by
                                            any Person (other than the Borrower or any of its Subsidiaries) and from repayments of loans
                                            or advances which constituted Investments (excluding Investments made pursuant to clause (26)(b)
                                            of the definition of “Permitted Investments”),

 

		(II)	the
                                            sale (other than to the Borrower or a Restricted Subsidiary) of the Capital Stock of an Unrestricted
                                            Subsidiary of the Borrower, or

 

		(III)	any
                                            distribution or dividend from any Unrestricted Subsidiary of the Borrower (to the extent
                                            such distributions or dividend is not already included in the calculation of Consolidated
                                            Net Income); plus

 

		(F)	in
                                            the event any Unrestricted Subsidiary of the Borrower has been redesignated as a Restricted
                                            Subsidiary or has been merged or consolidated with or into, or transfers or conveys its assets
                                            to, or is liquidated into, the Borrower or a Restricted Subsidiary, in each case after the
                                            Closing Date, the Fair Market Value of the Investment of the Borrower in such Unrestricted
                                            Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred
                                            or conveyed, as applicable), after deducting any Indebtedness associated with such Unrestricted
                                            Subsidiary so designated or combined or any Indebtedness

 

    11 

     

    

associated
with the assets so transferred or conveyed (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted
Subsidiary was made pursuant to clause (30) of the definition of “Permitted Investments”); plus

 

		(G)	an
                                            amount equal to any returns in Cash Equivalents (including dividends, interest, distributions,
                                            returns of principal, profits on sale, repayments, income and similar amounts) actually received
                                            by the Borrower or any Restricted Subsidiary in respect of Investments made pursuant to clause
                                            (3) of the definition of “Permitted Investments”; plus

 

		(H)	the
                                            greater of $15,000,000 and 20.0% of Consolidated EBITDA determined on a Pro Forma Basis as
                                            of the most recently ended Test Period.

 

minus, the sum of:

 

		(A)	the
                                            amount of Restricted Payments made after the Closing Date pursuant to Section 7.3(b)(iii);

 

		(B)	the
                                            amount of any Investments made after the Closing Date pursuant to clause (3) of the
                                            definition of “Permitted Investments”; and

 

		(C)	the
                                            amount of prepayments of Junior Indebtedness made after the Closing Date pursuant to Section
                                            7.3(d)(iii).

 

“Available
Revolving Commitment”: as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s
Revolving Commitment then in effect over (b) the aggregate Outstanding Amount of such Lender’s Revolving Extensions
of Credit at such time.

 

“Available
Tenor”: as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark
or payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining the
length of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for
such Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (f) of Section 2.16(i).

 

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

 

“Bail-In
Legislation”: (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European
Parliament and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country
from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of
the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom
relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than
through liquidation, administration or other insolvency proceedings).

 

“Bankruptcy
Code”: Title 11 of the United States Code entitled “Bankruptcy”, as now and hereinafter in effect, or any successor
statute.

 

    12 

     

    

“Basel
III”: the Basel Committee on Banking Supervision’s (the “Committee”) revised rules relating to capital
requirements set out in “Basel III: A global regulatory framework for more resilient banks and banking systems”, “Guidance
for national authorities operating the countercyclical capital buffer” and “Basel III: International framework for liquidity
risk measurement, standards and monitoring” published by the Committee in December 2010, “Revisions to the Basel II
market risk framework” published by the Committee in February 2011, the rules for global systemically important banks contained
in “Global systemically important banks: assessment methodology and the additional loss absorbency requirement – Rules text”
published by the Committee in November 2011, as amended, supplemented or restated, and any further guidance or standards published by
the Committee in connection with these rules.

 

“Benchmark”:
initially, Adjusted LIBO Rate; provided that if a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election,
as applicable, and its related Benchmark Replacement Date have occurred with respect to Adjusted LIBO Rate or the then-current Benchmark,
then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such
prior benchmark rate pursuant to clause (c) or clause (d) of Section 2.162.16(i).

 

“Benchmark
Replacement”: for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative
Agent for the applicable Benchmark Replacement Date:

 

(1)
the sum of: (a) Term SOFR and (b) the related Benchmark Replacement Adjustment;

 

(2)
the sum of: (a) Daily Simple SOFR and (b) the related Benchmark Replacement Adjustment;

 

(3)
the sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for
the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of
a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing
market convention for determining a benchmark rate as a replacement for the then-current Benchmark for dollar-denominated syndicated
credit facilities at such time and (b) the related Benchmark Replacement Adjustment;

 

provided
that, in the case of clause (1), such Unadjusted Benchmark Replacement is displayed on a screen or other information service that
publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion; provided further that,
notwithstanding anything to the contrary in this Agreement or in any other Loan Document, upon the occurrence of a Term SOFR Transition
Event, and the delivery of a Term SOFR Notice,  on the applicable Benchmark Replacement Date the “Benchmark Replacement”
shall revert to and shall be deemed to be the sum of (a) Term SOFR and (b) the related Benchmark Replacement Adjustment, as set forth
in clause (1) of this definition (subject to the first proviso above).

 

If
the Benchmark Replacement as determined pursuant to clause (1), (2) or (3) above would be less than the Floor, the Benchmark Replacement
will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.

 

“Benchmark
Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement
for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

 

    13 

     

    

(1)
for purposes of clauses (1) and (2) of the definition of “Benchmark Replacement,” the first alternative set forth in the
order below that can be determined by the Administrative Agent:

 

(a)
the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or
zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended
by the Relevant Governmental Body for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for the
applicable Corresponding Tenor;

 

(b)
the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first
set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be
effective upon an index cessation event with respect to such Benchmark for the applicable Corresponding Tenor; and

 

(2)
for purposes of clause (3) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating
or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative
Agent and the Borrower for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a spread
adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable
Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (ii) any evolving
or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment,
for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for dollar-denominated syndicated credit facilities;

 

provided
that, in the case of clause (1) above, such adjustment is displayed on a screen or other information service that publishes such
Benchmark Replacement Adjustment from time to time as selected by the Administrative Agent in its reasonable discretion.

 

“Benchmark
Replacement Conforming Changes”: with respect to any Benchmark Replacement, any technical, administrative or operational changes
(including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition
of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests
or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical,
administrative or operational matters) that the Administrative Agent decides in its reasonable discretion may be appropriate to reflect
the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in
a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such
market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration
of such Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary
in connection with the administration of this Agreement and the other Loan Documents).

 

“Benchmark
Replacement Date”: the earliest to occur of the following events with respect to the then-current Benchmark:

 

(1)
in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public
statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark (or the published
component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such
component thereof);

 

    14 

     

    

(2)
in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication
of information referenced therein;

 

(3)
in the case of a Term SOFR Transition Event, the date that is thirty (30) days after the date a Term SOFR Notice is provided to the Lenders
and the Borrower pursuant to Section 2.16(i)(d); or

 

(4)
in the case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided
to the Lenders, so long as the Administrative Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day
after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election
from Lenders comprising the Required Lenders.

 

For
the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the
Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference
Time for such determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause
(1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all
then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).

 

“Benchmark
Transition Event”: the occurrence of one or more of the following events with respect to the then-current Benchmark:

 

(1)
a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used
in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark
(or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor
administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

 

(2)
a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof), the Federal Reserve Board, the NYFRB, an insolvency official with jurisdiction over the administrator
for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component)
or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component),
which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of
such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication,
there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);
or

 

(3)
a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no
longer representative.

 

For
the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a
public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such
Benchmark (or the published component used in the calculation thereof).

 

    15 

     

    

“Benchmark
Unavailability Period”: the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses
(1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all
purposes hereunder and under any Loan Document in accordance with Section 2.16(i)
and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder
and under any Loan Document in accordance with Section 2.16(i).

 

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.

 

“Beneficial
Ownership Regulation” means 31 C.F. R. § 1010.230.

 

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

 

“Benefited
Lender”: as defined in Section 11.8(a).

 

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

 

“Board”:
the Board of Governors of the Federal Reserve System of the United States (or any successor).

 

“Board
of Directors”: as to any Person, the board of directors or managers, sole member, managing member or other governing body,
as applicable, of such Person (or, if such Person is a partnership, the board of directors or other governing body of the general partner
of such Person) or any duly authorized committee thereof.

 

“Borrower”:
as defined in the preamble hereto.

 

“Borrowing”:
a Revolving Borrowing, a Designated Acquisition Swingline Borrowing or a Term Borrowing, as the context may require.

 

“Borrowing
Date”: any Business Day specified by the Borrower as a date on which the Borrower requests the relevant Lenders to make Loans
hereunder or to treat BRP C Corp Acquisition Indebtedness assumed or guaranteed by the Borrower as a Designated Acquisition Swingline
Borrowing.

 

“Borrowing
Minimum”: $1,000,000.

 

“Borrowing
Multiple”: $100,000.

 

“Borrowing
Request”: a certificate duly executed by a Responsible Officer substantially in the form of Exhibit H; provided
that if the Borrower has submitted an Officer’s Certificate pursuant to the definition of BRP C Corp Acquisition Indebtedness,
then such Officer’s Certificate shall constitute a Borrowing Request for all purposes hereunder.

 

“British
Pounds Sterling” and “£” mean freely transferable lawful money of the United Kingdom (expressed in
pounds sterling).

 

    16 

     

    

“BRP
C Corp Acquisition”: an acquisition by BRP Group or one or more of its direct or indirect Subsidiaries (a “BRP DRE
Subsidiary”) of a group of target entities, one or more which are treated as a “C” corporation for US federal income
tax purposes (such group, a “C Corp Target Group”), which entity or entities may (but shall not be required to) take
such actions (by election, conversion, merger or otherwise) that are necessary or appropriate to cause such entity or entities (or successor(s))
to be treated as a partnership or disregarded entity for US federal income tax purposes, after which the C Corp Target Group is contributed
(or the BRP DRE Subsidiary is contributed) to the Borrower in exchange for additional equity of the Borrower and substantially concurrently
therewith the Borrower assumes or guarantees the associated BRP C Corp Acquisition Indebtedness.

 

“BRP
C Corp Acquisition Indebtedness”: Indebtedness of BRP Group or a BRP DRE Subsidiary that is assumed, or in the case of Indebtedness
of a BRP DRE Subsidiary guaranteed, by the Borrower in connection with a BRP C Corp Acquisition; provided that (A) the aggregate
principal amount of such BRP C Corp Acquisition Indebtedness shall not exceed the cash portion of closing date purchase price paid by
BRP Group or the BRP DRE Subsidiary, as applicable, for the C Corp Target Group plus transaction costs and expenses in connection therewith,
(B) the Borrower shall notify the Administrative Agent at least thirty days prior to the consummation of the BRP C Corp Acquisition pursuant
to an Officer’s Certificate delivered to the Administrative Agent, that (i) describes in reasonable detail the aggregate principal
amount of such BRP C Corp Acquisition Indebtedness and the other material terms thereof and (ii) irrevocably elects whether such BRP
C Corp Acquisition Indebtedness shall be assumed or guaranteed by the Borrower as either an Incremental Loan, Indebtedness permitted
by Section 7.2(b)(vi) or as a Designated Acquisition Swingline Loan (each, a “Specified Acquisition Basket”),
(C) the Borrower shall notify the Administrative Agent at least 10 days prior to the consummation of the BRP C Corp Acquisition of the
identity of the Designated Acquisition Swingline Lender or other lender of BRP C Corp Acquisition Indebtedness, (D) the
Borrower shall treat all such BRP C Corp Acquisition Indebtedness and all commitments for such BRP C Corp Acquisition Indebtedness (pursuant
to an Officer’s Certificate delivered to the Administrative Agent at least 3 Business Days prior to the consummation of
the BRP C Corp Acquisition) (such amount until revoked as described below, the “Elected
Amount”) which is to be assumed or guaranteed by the Borrower (or any commitment in respect thereof), as being incurred, as
the case may be, as of the Calculation Date (or, in the case of Designated Acquisition Swingline Loans, as incurred as of the date of
delivery of such notice and as of the Calculation Date) and (i) any subsequent incurrence of such Indebtedness under such commitment
(so long as the total amount under such Indebtedness does not exceed the Elected Amount) shall not be deemed, for purposes of this calculation,
to be an incurrence of additional Indebtedness at such subsequent time, (ii) the Borrower may revoke an election of an Elected Amount,
pursuant to an Officer’s Certificate delivered to the Administrative Agent; provided that such BRP C Corp Acquisition Indebtedness
shall either be repaid or commitments for such debt terminated and (iii) for purposes of calculations of the Total First Lien Net
Leverage Ratio, Total Net Leverage Ratio, Total Secured Net Leverage Ratio, Debt Service Coverage Ratio, and Revolving Commitments and
Designated Acquisition Swingline Commitment (in the case of Designated Acquisition Swingline Loans) after the delivery of such notice
with respect thereto, and until the incurrence (or earlier revocation) thereof, the Elected Amount shall be deemed to have been incurred
and the related BRP C Corp Acquisition consummated, (E) the BRP C Corp Acquisition pursuant to which the BRP C Corp Acquisition
Indebtedness was incurred would meet all of the requirements of a Permitted Acquisition were it to be consummated by the Borrower instead
of BRP Group or the BRP DRE Subsidiary, as applicable, (F) the Borrower shall assume or guarantee such BRP C Corp Acquisition Indebtedness
immediately following the consummation of such BRP C Corp Acquisition pursuant to documentation reasonably acceptable to the Administrative
Agent and, in the case of an assumption, pursuant to which the Borrower shall succeed to, and be substituted for and may exercise every
right and power of, BRP Group or the BRP DRE Subsidiary, as applicable, under such BRP C Corp Acquisition Indebtedness with the same
force and effect as if such BRP Group Acquisition Indebtedness had been issued hereunder, (G) such BRP C Corp

 

    17 

     

    

Acquisition
Indebtedness, both when incurred by BRP Group or the BRP DRE Subsidiary, as applicable, and when assumed or guaranteed by the Borrower,
would meet all of the requirements of the Specified Acquisition Basket that the Borrower has elected as if incurred hereunder and (H)
if the BRP C Corp Acquisition Indebtedness is initially incurred by a BRP DRE Subsidiary, after giving effect to the transactions contemplated
by the BRP C Corp Acquisition, (i) such BRP DRE Subsidiary shall become a Guarantor hereunder on the date of such BRP C Corp Acquisition
and the Borrower shall satisfy the requirements of Section 6.9 on such date and (ii) to the extent that such BRP C Corp Acquisition
Indebtedness is not assumed by the Borrower, such BRP C Corp Acquisition Indebtedness shall be fully and unconditionally guaranteed by
the Borrower and the Guarantors pursuant to a guarantee in form and substance consistent with Section 8 pursuant to which such
BRP C Corp Acquisition Indebtedness shall constitute a “Guarantee Obligation” hereunder; provided, further,
that if the foregoing are satisfied, such BRP C Corp Acquisition Indebtedness will be deemed incurred and outstanding under the relevant
Specified Acquisition Basket.

 

“BRP
Group” means BRP Group, Inc., a Delaware corporation.

 

“BRP
Operating Agreement” means Borrower’s Third Amended and Restated Limited Liability Company Agreement, as amended, restated,
supplemented or otherwise modified from time to time.

 

“Business”:
as defined in Section 4.14(b).

 

“Business
Day”: a day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required
by law to close, provided that with respect to notices and determinations in connection with, and payments of principal and interest
on, Eurocurrency Loans, such day is also a day for trading by and between banks in Dollar deposits in the interbank eurodollar market.

 

“Calculation
Date”: (i) with respect to Section 7.1 and the determination of “Applicable Margin”, “Commitment
Fee Rate” and “ECF Percentage”, the last day of the applicable Test Period and (ii) otherwise, the applicable
date with respect to which the Debt Service Coverage Ratio, Total First Lien Net Leverage Ratio, Total Secured Net Leverage Ratio or
Total Net Leverage Ratio is tested.

 

“Canadian
Dollars” or “C$” means lawful currency of Canada.

 

“Cancellation”
or “Cancelled”: the cancellation, termination and forgiveness by Permitted Auction Purchaser of all Loans, Commitments
and related Obligations acquired in connection with an Auction Purchase or other acquisition of Term Loans, which cancellation shall
be consummated as described in Section 11.6(b)(iii)(C) and the definition of “Eligible Assignee.”

 

“Capital
Expenditures”: for any period, with respect to any Person, the aggregate of all expenditures, including payments of Contractual
Obligations, by such Person or any Restricted Subsidiary thereof during such period for the acquisition or leasing (pursuant to a capital
lease) of fixed or capital assets or additions to equipment (including replacements, capitalized repairs and improvements during such
period), or software expenditures that, in conformity with GAAP, are required to be or may be included as “capital expenditures”
in the consolidated statement of cash flows provided pursuant to Section 6.1. For the avoidance of doubt, Capital Expenditures
shall exclude costs incurred in a cloud computing arrangement that are accounted for in accordance with Financial Accounting Standards
Board ASU No. 2018-15.

 

“Capital
Stock”: (1) in the case of a corporation, corporate stock or share capital; (2) in the case of an association or
business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;
(3) in the case of an exempted company, shares; (4) 

 

    18 

     

    

in
the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and (5) any
other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions
of assets of, the issuing Person.

 

“Capitalized
Lease Obligations”: at the time any determination thereof is to be made, the amount of the liability in respect of a capital
lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes
thereto) in accordance with GAAP.

 

“Captive
Insurance Subsidiary”: any direct or indirect Subsidiary of the Borrower that bears financial risk or exposure relating to
insurance or reinsurance activities and any segregated accounts associated with any such Person.

 

“Cash-Capped
Incremental Amount”: an amount equal to the greater of $75,000,000 and 100% of Consolidated EBITDA determined on a Pro Forma
Basis as of the most recently ended Test Period less the aggregate principal amount of Indebtedness previously Incurred under
Section 2.25(a)(i)(z), Section 7.2(b)(vi)(z) (or Section 7.2(b)(xvi) in respect of amounts previously
incurred under Section 7.2(b)(vi)(z)).

 

“Cash-Capped
Incremental Facility”: as defined in Section 2.25(a)(i).

 

“Cash
Collateral”: as defined in the definition of “Collateralize.”

 

“Cash
Collateral Account”: means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at JPMorgan Chase
Bank, N.A. or another commercial bank in the name of the Administrative Agent and under the sole dominion and control of the Administrative
Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

 

“Cash
Collateralize”: as defined in Section 3.2(b).

 

“Cash
Contribution Amount”: the aggregate amount of cash contributions made to the capital of the Borrower or any Restricted Subsidiary
described in the definition of “Contribution Indebtedness.”

 

“Cash
Distributions” means a Distribution made in cash, but excluding any Distribution made in connection with a redemption pursuant
to Article 10 of the BRP Operating Agreement to the extent all cash distributed was contributed to Borrower by BRP Group in accordance
with the BRP Operating Agreement.

 

“Cash
Equivalents”:

 

(1)  
Dollars, Canadian Dollars, British Pounds Sterling, Euros, the national currency of any
participating member state of the European Union and other local currencies held by the Borrower and the Restricted Subsidiaries from
time to time in the ordinary course of business in connection with any business conducted by such Person in such jurisdiction;

 

(2)  
securities issued or directly and fully guaranteed or insured by the government of the United
States, Canada, any country that is a member of the European Union, Switzerland or the United Kingdom or any agency or instrumentality
thereof in each case with maturities not exceeding two years from the date of acquisition;

 

(3)  
certificates of deposit, time deposits and eurodollar time deposits with maturities of one
year or less from the date of acquisition, bankers’ acceptances, in each case with maturities not exceeding 

 

    19 

     

    

one
year, and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250,000,000, in the
case of U.S. banks, and $100,000,000 (or the foreign currency equivalent thereof), in the case of non-U.S. banks, and whose long-term
debt is rated with an Investment Grade Rating by Moody’s or S&P (or reasonably equivalent ratings of another internationally
recognized ratings agency);

 

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

 

(5)  
commercial paper issued by a corporation (other than an Affiliate of Borrower) rated at
least “P-1/A-1” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally
recognized ratings agency) and in each case maturing within one year after the date of acquisition;

 

(6)  
readily marketable direct obligations issued by any state or commonwealth of the United
States of America, Canada, any country that is a member of the European Union, the United Kingdom or Switzerland or any political subdivision
of the foregoing having one of the two highest rating categories obtainable from either Moody’s or S&P (or reasonably equivalent
ratings of another internationally recognized ratings agency) in each case with maturities not exceeding two years from the date of acquisition;

 

(7)  
Indebtedness or Preferred Stock issued by Persons with a rating of “A” or higher
from S&P or “A-2” or higher from Moody’s in each case with maturities not exceeding two years from the date of
acquisition;

 

(8)  
investment funds investing at least 95% of their assets in securities of the types described in clauses (1) through
(7) above; and

 

(9)  
instruments equivalent to those referred to in clauses (1) through (7) above denominated in Canadian Dollars,
British Pounds Sterling or Euros or any other currency comparable in credit quality and tenor to those referred to above and customarily
used by corporations for cash management purposes in any jurisdiction outside the United States to the extent reasonably required in
connection with (a) any business conducted by any Restricted Subsidiary organized in such jurisdiction or (b) any Investment
in the jurisdiction where such Investment is made.

 

“Cash
Management Agreement”: any agreement to provide Cash Management Services.

 

“Cash
Management Obligations”: all obligations, including guarantees thereof, of any Group Member to a Cash Management Provider that
has appointed in writing the Administrative Agent as its collateral agent in a manner reasonably acceptable to the Administrative Agent
and has agreed in writing with the Administrative Agent that it is providing Cash Management Services to one or more Group Members arising
from transactions in the ordinary course of business of any Group Member, to the extent such obligations are primary obligations of a
Loan Party or are guaranteed by a Loan Party.

 

“Cash
Management Provider”: any Person that, as of the Closing Date or as of the date it enters into any Cash Management Agreement,
is the Administrative Agent, a Joint Lead Arranger, a Lender or an Affiliate of the Administrative Agent or a Lender, in its capacity
as a counterparty to such Cash Management Agreement, in each case, whether or not such Person subsequently ceased to be the Administrative
Agent, a Joint Lead Arranger, a Lender or an Affiliate of the Administrative Agent or a Lender.

 

    20 

     

    

“Cash
Management Services”: any cash management facilities or services, including (i) treasury, depositary and overdraft services,
automated clearinghouse transfer of funds, (ii) foreign exchange, netting and currency management services and (iii) purchase cards,
credit or debit cards, credit card processing, electronic funds transfer, automated clearinghouse arrangements or similar services.

 

“Cashless
Option Term B-1 Lender” shall mean each Existing Initial Term Loan Lender that has executed and delivered a Consent to Amendment
No. 2.

 

“CFC”:
a “controlled foreign corporation” within the meaning of Section 957(a) of the Code.

 

“CFC
Holdco”: any Subsidiary that has no material assets other than Capital Stock (or Capital Stock and Indebtedness) of one or
more direct or indirect Foreign Subsidiaries that are CFCs.

 

“Change
in Law”: the occurrence, after the Closing Date, of any of the following: (a) the adoption or taking effect of any law,
rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation
or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive
(whether or not having the force of law) by any Governmental Authority; provided that, for the avoidance of doubt, (x) the
U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act, the European Capital Requirements Directive IV and in each case
all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines
or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or
similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case
be deemed to be a “Change in Law”.

 

“Change
of Control”: shall be deemed to occur if:

 

(a)  the
occurrence of any of the following, in a single transaction or any series of transactions: (i) the sale, transfer, conveyance, lease
or other disposition (other than by way of merger or consolidation) to any Person (other than to Borrower or any Guarantor) of all or
substantially all of the assets of Borrower and its subsidiaries, taken as a whole; (ii) (A) the adoption of a plan relating to the dissolution,
liquidation or winding-up of Borrower or any Guarantor, (B) the consummation of any sale, issuance, transfer, exchange, exercise or conversion
of Capital Stock, or (C) any merger, consolidation, recapitalization, reorganization or other transaction, which in any such case of
(A), (B ) or (C) results in a Person (other than BRP Group or any subsidiary of BRP Group or Permitted Holders) becoming the managing
member of Borrower; and (iii) (A) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of
merger or consolidation) of all or substantially all of BRP Group’s assets and the assets of its subsidiaries, taken as a whole,
to any Person (other than BRP Group, one of its subsidiaries or Permitted Holders); or (B) BRP Group becomes aware of (by way of a report
or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) the acquisition by any Person
(other than Permitted Holders) or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor
provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1)
under the Exchange Act), but excluding Permitted Holders, in a single transaction or in a related series of transactions, by way of acquisition,
merger, amalgamation, consolidation, transfer, conveyance or other business combination or purchase of beneficial ownership (within the
meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of more than 50% of the total voting power of the Voting Stock
of BRP Group, other than by virtue of the reincorporation of BRP Group in another jurisdiction, so long as the Beneficial Owners of the
Voting Interests of BRP Group immediately prior to such transaction hold a majority of the voting power of the Voting Stock of such holding
company or reincorporation entity immediately thereafter; or

 

    21 

     

    

(b) a
“change of control” or similar event shall occur with respect to any agreement governing Indebtedness of any Group Member
incurred pursuant to Section 7.2(a), 7.2(b)(iv), 7.2(b)(v), 7.2(b)(vi), or 7.2(b)(xxii) or any
Refinancing Indebtedness in respect of the foregoing, in each case the outstanding principal amount of which exceeds, in the aggregate
at the time of determination, the greater of $15,000,000 and 20.0% of Consolidated EBITDA on a Pro Forma Basis for the most recently
ended Test Period.

 

Notwithstanding
the foregoing, a transaction will not be deemed to involve a change of control under clause (a)(iii)(B) above if (x) BRP Group becomes
a direct or indirect wholly owned subsidiary of a holding company and (y)(A) the direct or indirect holders of the Voting Stock of such
holding company immediately following that transaction are substantially the same as the holders of BRP Group Voting Stock immediately
prior to that transaction or (B) immediately following that transaction no person (other than a holding company satisfying the requirements
of this sentence) is the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. The
term “person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act.

 

“Class”:
(a) with respect to Commitments or Loans, those of such Commitments or Loans that have the same terms and conditions and (b) with
respect to Lenders, those of such Lenders that have Commitments or Loans of a particular Class. For the avoidance of doubt, the Incremental
Term B-1 Loans, the Additional Incremental Term B-1 Loans and the Refinancing Term B-1 Loans are one Class of Loans.

 

“Closing
Date”: October 14, 2020.

 

“CME
Term SOFR Administrator” means CME Group Benchmark Administration Limited as administrator of the forward-looking term Secured
Overnight Financing Rate (SOFR) (or a successor administrator).

 

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

 

“Collateral”:
all of the assets and property of the Loan Parties and any other Person, now owned or hereafter acquired, whether real, personal or mixed,
upon which a Lien is purported to be created by any Security Document; provided, however, that the Collateral shall not
include any Excluded Assets.

 

“Collateralize”:
to (i) pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Issuing Lenders and the Revolving
Lenders, as collateral for the L/C Obligations, cash or deposit account balances (“Cash Collateral”) pursuant to documentation
in form and substance reasonably satisfactory to the Administrative Agent or (ii) issue back to back letters of credit for the benefit
of the Issuing Lenders in a form and substance reasonably satisfactory to the Administrative Agent, in each case, in an amount equal
to 102% of the outstanding L/C Obligations.

 

“Commitment”:
as to any Lender, the sum of the Term Commitment and the Revolving Commitment of such Lender.

 

“Commitment
Fee”: as defined in Section 2.8(a).

 

“Commitment
Fee Rate”: initially, 0.25% per annum, and from and after the first Business Day immediately following the delivery to the
Administrative Agent of a Compliance Certificate (pursuant to Section 6.2(c)), commencing with the Compliance Certificate
delivered in respect of the first full fiscal quarter of the Borrower ending after the Closing Date, wherein the Total Net Leverage Ratio
determined

 

    22 

     

    

on
a Pro Forma Basis as of the most recent Test Period, is (x) less than or equal to 3.75 to 1.00 but greater than 3.00 to 1.00, 0.35%
per annum, (y) ) less than or equal to 3.00 to 1.00 but greater than 2.50 to 1.00, 0.30% per annum and (z) less than or equal to
2.50 to 1.00, 0.25% per annum and (z) otherwise, 0.40% per annum.

 

“Commodity
Exchange Act”: the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor
statute.

 

“Commonly
Controlled Entity”: an entity, whether or not incorporated, that is under common control with any Loan Party within the meaning
of Section 4001 of ERISA or is part of a group that includes any Loan Party and that is treated as a single employer under Section 414
of the Code.

 

“Compliance
Certificate”: a certificate duly executed by a Responsible Officer substantially in the form of Exhibit C.

 

“Consent
to Amendment No. 2” shall mean a consent to Amendment No. 2 substantially in the form of Exhibit A-1 attached thereto.

 

“Consolidated
Current Assets”: at any date, all amounts (other than Cash Equivalents, amounts related to assets held for sale, loans (permitted)
to third parties, deferred bank fees, deferred tax assets and excluding the effects of adjustments pursuant to GAAP resulting from the
application of recapitalization accounting or purchase accounting, as the case may be, in relation to the Transactions or any consummated
acquisition) that would, in conformity with GAAP, be set forth opposite the caption “total current assets” (or any like caption)
on a consolidated balance sheet at such date.

 

“Consolidated
Current Liabilities”: at any date, all amounts that would, in conformity with GAAP, be set forth opposite the caption “total
current liabilities” (or any like caption) on a consolidated balance sheet of the Borrower and the Restricted Subsidiaries at such
date, but excluding (a) the current portion of any Funded Debt the Borrower and the Restricted Subsidiaries, (b) without duplication
of clause (a) above, all Indebtedness consisting of Loans to the extent otherwise included therein, (c) the current portion
of interest, (d) the current portion of Capitalized Lease Obligations and (e) liabilities in respect of unpaid earn-outs, deferred tax
assets, unearned revenue and, furthermore, excluding the effects of adjustments pursuant to GAAP resulting from the application of recapitalization
accounting or purchase accounting, as the case may be, in relation to the Transactions or any consummated acquisition.

 

“Consolidated
EBITDA”: the Consolidated Net Income of the Borrower and the Restricted Subsidiaries for such period:

 

(1)  
increased (without duplication) by:

 

(a)  
provision for Taxes based on income or profits or capital (or Taxes based on revenue in lieu of Taxes based on income or profits
or capital), including federal, foreign, state, local, franchise, unitary, property, excise, value added and similar Taxes and foreign
withholding Taxes of such Person paid or accrued during such period deducted (and not added back) in computing Consolidated Net Income
and payroll taxes related to stock compensation costs, including (i) an amount equal to the amount of distributions actually made
to the holders of Capital Stock of such Person or any direct or indirect parent of such Person in respect of such period in accordance
with Section 7.3(b)(xii), which shall be included as though such amounts had been paid as income Taxes directly by such Person
and (ii) penalties and interest related to such taxes or arising from any tax examinations; plus

 

    23 

     

    

(b)  
consolidated Fixed Charges for such period (including (x) bank fees and (y) costs of surety bonds in connection with
financing activities and surety bonds outstanding, in each case, to the extent included in Fixed Charges), together with items excluded
from the definition of “Consolidated Interest Expense” pursuant to clauses (1)(b)(i) through (1)(b)(ix)
thereof, in each case, to the extent the same was deducted (and not added back) in calculating such Consolidated Net Income; plus

 

(c)  
Consolidated Non-Cash Charges for such period to the extent such non-cash charges were deducted (and not added back) in computing
Consolidated Net Income; plus

 

(d)  
any expenses (including legal and professional expenses) or charges (other than depreciation or amortization expense) related
to any Equity Offering, Investment, acquisition, disposition, dividend, distribution, return of capital, recapitalization or the Incurrence
of Indebtedness, including a refinancing thereof, and any amendment or modification to the terms of any such transaction (in each case,
(i) including any such transactions consummated prior to the Closing Date, (ii) whether or not such transaction is undertaken
but not completed, (iii) whether or not such transaction is permitted by this Agreement and (iv) including any such transaction
incurred by any direct or indirect parent company of the Borrower), including such fees, expenses or charges related to the Transactions,
in each case, deducted (and not added back) in computing Consolidated Net Income; plus

 

(e)  
the amount of any restructuring charges, accruals or reserves deducted (and not added back) in such period in computing Consolidated
Net Income, including any such costs Incurred in connection with acquisitions before or after the Closing Date (including entry into
new market/channels and new service or product offerings) and costs related to the closure, reconfiguration and/or consolidation of facilities
and costs to relocate employees, integration and transaction costs, retention charges, severance (including, for the avoidance of doubt,
any costs and expenses relating to the repurchasing or extinguishing of any equity interests, or equity-like interests, held by severed
Persons), contract termination costs, recruiting and signing bonuses and expenses, future lease commitments, systems establishment costs,
conversion costs and excess pension charges and consulting fees, expenses attributable to the implementation of costs savings initiatives,
costs associated with tax projects/audits and costs consisting of professional consulting or other fees relating to any of the foregoing;
plus

 

(f)  
any salaries and wages earned by employees classified as a part of the New Producer Program; provided that the aggregate
amount of such net operating costs set forth in this clause (f) shall not exceed 10% of Consolidated EBITDA (calculated after taking
account of the add-back in this clause (f)) for any such period (which calculated pro forma impact will be derived from the income
statement separately maintained for financial reporting purposes for the New Producer Program and will not include any net operating
costs from employees otherwise excluded or separate from the New Producer Program); plus

 

(g)  
the amount of any noncontrolling interest expense consisting of Subsidiary income attributable to minority equity interests of
third parties in any non-Wholly Owned Subsidiary of the Borrower deducted (and not added back) in such period in calculating Consolidated
Net Income; plus

 

(h)  
the amount of directors’ fees and expenses, in each case, to the extent deducted (and not added back) in computing Consolidated
Net Income; plus

 

(i)  
the “run rate” expected cost savings, operating expense reductions, other operating improvements and initiatives,
restructuring charges and expenses and synergies that are expected in good faith to be realized as a result of actions with respect to
which substantial steps have been, will be, or are expected in good faith to be, taken within 12 months after the date of any

 

    24 

     

    

acquisition,
disposition, divestiture, restructuring, other operational changes or the implementation of a cost savings or other similar initiative,
as applicable (calculated on a pro forma basis as though such cost savings, operating expense reductions, other operating improvements
and initiatives, restructuring charges and expenses and synergies had been realized on the first day of such period as if such cost savings,
operating expense reductions, other operating improvements and initiatives, restructuring charges and expenses and synergies were realized
during the entirety of such period), net of the amount of actual benefits realized during such period from such actions; provided
that (A) such actions or substantial steps have been, will be, or are expected in good faith to be, taken within 12 months
after (x) if such cost savings, expense reductions, charge, expense, acquisition, divestiture, restructuring or initiative is initiated
on or prior to the Closing Date, the Closing Date or (y) if such cost savings, expense reductions, charge, expense, acquisition,
divestiture, restructuring, other operational changes or initiative is initiated after the Closing Date, the date on which such cost
savings, expense reductions, charge, expense, acquisition, divestiture, restructuring, other operational changes or initiative is initiated
and (B) no cost savings, operating expense reductions, restructuring charges and expenses or synergies shall be added pursuant to
this defined term to the extent duplicative of any expenses or charges otherwise added to Consolidated EBITDA, whether through a pro
forma adjustment or otherwise, for such period (which adjustments may be incremental to pro forma
adjustments made pursuant to the definition of “Debt Service Coverage Ratio”); provided that the aggregate
amount of all items added back pursuant to this clause (i) shall not exceed, together with amounts added back pursuant to clause
(j) below, 20% of Consolidated EBITDA (after giving effect to this clause (i)) for such period; plus

 

(j)  
the “run rate” expected cost savings, operating expense reductions, other operating improvements and initiatives,
restructuring charges and expenses and synergies related to the Transactions projected by the Borrower in good faith to result from actions
with respect to which substantial steps have been, will be, or are expected to be, taken (in the good faith determination of the Borrower)
within 12 months after the Closing Date, calculated on a pro forma basis as though such cost savings, operating expense reductions,
other operating improvements and initiatives, restructuring charges and expenses and synergies had been realized on the first day of
such period as if such cost savings, operating expense reductions, restructuring charges and expenses and synergies were realized during
the entirety of such period), net of the amount of actual benefits realized during such period from such actions and which
adjustments may be incremental to pro forma adjustments made pursuant to the definition of “Debt Service Coverage Ratio”;
provided that the aggregate amount of all items added back pursuant to this clause (j) shall not exceed, together
with amounts added back pursuant to clause (i) above, 20% of Consolidated EBITDA (after giving effect to this clause (j))
for such period; plus

 

(k)  
the amount of loss or discount on sale of receivables and related assets to the Receivables Subsidiary in connection with a Receivables
Financing, to the extent deducted (and not added back) in computing Consolidated Net Income; plus

 

(l)  
any costs or expenses incurred pursuant to any management equity plan or stock option plan or any other management or employee
benefit plan or agreement or any stock subscription or shareholder agreement or any accelerated vesting of awards in anticipation of
the Transactions, to the extent that such costs or expenses are funded with cash proceeds contributed to the capital of Borrower or net
cash proceeds of an issuance of Equity Interest of the Borrower (other than Disqualified Stock) solely to the extent that such net cash
proceeds are excluded from the calculation of the Available Amount to the extent deducted (and not added back) in computing Consolidated
Net Income; plus

 

(m)  
[Reserved.];

 

(n)  
the Tax effect of any items excluded from the calculation of Consolidated Net Income pursuant to clauses (1), (3),
(4), (7), (8) and (17) of the definition thereof; plus

 

    25 

     

    

(o)  
[Reserved.]; plus

 

(p)  
all charges attributable to, and payments of, legal settlements, fines, judgments or orders; plus

 

(q)  
[Reserved];

 

(2)  
decreased by (without duplication), non-cash gains increasing Consolidated Net Income for such period, excluding any non-cash
gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced Consolidated EBITDA in
any prior period; and

 

(3)  
increased (by losses) or decreased (by gains) by (without duplication) the application of FASB Interpretation No. 45 (Guarantees).

 

Notwithstanding
the foregoing, the Consolidated EBITDA in respect of any Permitted Acquisition that is a Material Acquisition shall not be included in
the calculation of Consolidated EBITDA unless the “Consolidated EBITDA” is verified by a Quality of Earnings Report from
CBIZ, Inc. or such other diligence firm reasonably acceptable to Administrative Agent (it being agreed that any public accounting firm
of nationally recognized standing shall be acceptable to Administrative Agent).

 

“Consolidated
Interest Expense”: with respect to the Borrower and the Restricted Subsidiaries for any period, the sum, without duplication,
of

 

(1)  
consolidated interest expense for such period, to the extent such expense was deducted (and not added back) in computing Consolidated
Net Income ((a) including (i) amortization of original issue discount resulting from the issuance of Indebtedness at less than par,
(ii) all commissions, discounts and other fees and charges owed with respect to letters of credit or bankers acceptances, (iii) non-cash
interest payments (but excluding any non-cash interest expense attributable to the movement in the mark to market valuation of Hedging
Obligations or other derivative instruments pursuant to GAAP), (iv) the interest component of Capitalized Lease Obligations and
(v) net payments and receipts (if any) pursuant to interest rate Hedging Obligations with respect to Indebtedness, and (b) excluding
(i) any prepayment premium or penalty, (ii) costs associated with obtaining Hedging Obligations and breakage costs in respect of Hedging
Obligations related to interest rates, (iii) any expense resulting from the discounting of any Indebtedness in connection with the
application of purchase accounting in connection with the Transactions or any acquisition, (iv) penalties and interest relating
to Taxes, (v) any “additional interest” or “penalty interest” with respect to any securities, (vi) any
accretion or accrued interest of discounted liabilities, (vii) amortization of deferred financing fees, amendment or consent fees,
debt issuance costs, commissions, discounts, fees and expenses, (viii) any expensing of bridge, commitment and other financing fees,
cost of surety bonds, charges owed with respect to letters of credit, bankers’ acceptances or similar facilities and (ix) commissions,
discounts, yield and other fees and charges (including any interest expense) related to any Receivables Financing); plus

 

(2)  
consolidated capitalized interest for such period, whether paid or accrued; less

 

(3)  
interest income for such period;

 

provided
that, for purposes of calculating Consolidated Interest Expense, no effect shall be given to the discount and/or premium resulting from
the bifurcation of derivatives under FASB ASC 815 and related interpretations as a result of the terms of the Indebtedness to which such
Consolidated Interest Expense relates.

 

    26 

     

    

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

 

Notwithstanding
the foregoing, any additional charges arising from (i) the application of Accounting Standards Codification Topic 480-10-25-4 “Distinguishing
Liabilities from Equity—Overall—Recognition” to any series of Preferred Stock other than Disqualified Stock or (ii) the
application of Accounting Standards Codification Topic 470-20 “Debt—Debt with Conversion Options—Recognition,”
in each case, shall be disregarded in the calculation of Fixed Charges.

 

“Consolidated
Net Income”: for any period, the Net Income of the Borrower and the Restricted Subsidiaries for such period, on a consolidated
basis, and otherwise determined in accordance with GAAP; provided, however, that, without duplication:

 

(1)  
any after-Tax effect of infrequent, non-recurring, non-operating or unusual gains, losses, income or expenses (including all fees
and expenses relating thereto) (including costs and expenses relating to the Transactions), severance, recruiting and relocation costs,
contract termination costs, system establishment charges, consolidation and closing costs, integration and facilities opening costs,
business optimization costs, transition costs, restructuring costs, signing, retention, incentive or completion bonuses or payments and
curtailments or modifications to pension and post-retirement employee benefit plans shall be excluded,

 

(2)  
the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting
policies, whether or not effected through a cumulative effect adjustment or a retroactive application or otherwise in each case in accordance
with GAAP, shall be excluded,

 

(3)  
any net after-Tax effect of income or loss from disposed, abandoned or discontinued operations and any net after-Tax gains or
losses on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded,

 

(4)  
any net after-Tax effect of gains or losses (including all fees and expenses relating thereto) attributable to business dispositions
or asset dispositions or the sale or other disposition of any Capital Stock of any Person other than in the ordinary course of business,
as determined in good faith by the Borrower, shall be excluded,

 

(5)  
the Net Income for such period of any Person that is not a Subsidiary, or is an Unrestricted Subsidiary, or that is accounted
for by the equity method of accounting (other than a Guarantor), shall be excluded; provided that the Consolidated Net Income
of the Borrower shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash (or to
the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period or a prior period
to the extent not previously included,

 

(6)  
solely for the purpose of the definition of “Excess Cash Flow” and determining the amount available for Restricted
Payments under clause (A) of the definition of “Available Amount”, the Net Income for such period of any Restricted
Subsidiary (other than any Loan Party) shall be excluded to the extent that the declaration or payment of dividends or similar distributions
by such Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior Governmental Approval
(which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument,
judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless
such restriction with respect

 

    27 

     

    

to
the payment of dividends or similar distributions has been legally waived, provided that Consolidated Net Income of the Borrower
will be increased by the amount of dividends or other distributions or other payments actually paid in Cash Equivalents (or to the extent
converted into Cash Equivalents) to the Borrower or any of the Restricted Subsidiaries (to the extent not subject to any such restriction)
in respect of such period or a prior period, to the extent not previously included,

 

(7)  
effects of adjustments (including the effects of such adjustments pushed down to the Restricted Subsidiaries) in any line item
in such Person’s consolidated financial statements (including, but not limited to, any step-ups or reductions with respect to re-valuing
assets and liabilities) pursuant to GAAP and related authoritative pronouncements resulting from the application in accordance with GAAP
of purchase accounting in relation to the Transactions or any investment, acquisition, merger or consolidation (or reorganization or
restructuring) that is consummated after the Closing Date or the depreciation, amortization or write-off of any amounts thereof, net
of taxes, shall be excluded,

 

(8)  
any net after-Tax income (loss) from the early extinguishment of (i) Indebtedness, (ii) Hedging Obligations or (iii) other
derivative instruments shall be excluded,

 

(9)  
any impairment charge or expense, asset write-off or write-down, including impairment charges or asset write-offs or write-downs
related to intangible assets, long-lived assets or investments in debt and equity securities or as a result of a change in law or regulations,
in each case, pursuant to GAAP and the amortization of intangibles arising pursuant to GAAP shall be excluded,

 

(10)  
[reserved],

 

(11)  
any fees and expenses or other charges (including any make-whole premium or penalties) incurred during such period, or any amortization
thereof for such period, in connection with any acquisition, Investment, recapitalization, Asset Sale, issuance or repayment of Indebtedness,
Equity Offering, refinancing transaction or amendment or modification of any debt instrument (in each case, (i) including any such
transactions consummated prior to the Closing Date, (ii) whether or not such transaction is undertaken but not completed, (iii) whether
or not such transaction is permitted by this Agreement and (iv) including any such transaction incurred by any direct or indirect
parent company of the Borrower) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction
shall be excluded,

 

(12)  
accruals and reserves that are established and not reversed within 12 months after the Closing Date that are so required
to be established as a result of the Transactions (or within 12 months after the closing of any acquisition that are so required
to be established as a result of such acquisition) in accordance with GAAP shall be excluded,

 

(13)  
losses or by gains arising from mark-to-market changes in earn-out and other similar obligations;

 

(14)  
any charges resulting from the application of Accounting Standards Codification Topic 805 “Business Combinations,”
Accounting Standards Codification Topic 350 “Intangibles—Goodwill and Other,” Accounting Standards Codification Topic
360-10-35-15 “Impairment or Disposal of Long-Lived Assets,” Accounting Standards Codification Topic 480-10-25-4 “Distinguishing
Liabilities from Equity—Overall—Recognition” or Accounting Standards Codification Topic 820 “Fair Value Measurements
and Disclosures” shall be excluded,

 

(15)  
non-cash interest expense resulting from the application of Accounting Standards Codification Topic 470-20 “Debt—Debt
with Conversion Options—Recognition” shall be excluded,

 

    28 

     

    

(16)  
any non-cash rent, non-cash interest expense and non-cash interest income shall be excluded; provided that, if any such
non-cash item represents an accrual or reserve for potential cash item in any future period, (i) the Borrower may elect not to exclude
such non-cash item in the current period and (ii) to the extent the Borrower elects to exclude such non-cash item, the cash payment in
respect thereof in such future period shall reduce or increase, as applicable, Consolidated Net Income in such future period to the extent
paid,

 

(17)  
the net after-Tax effect of carve-out related items (including audit and legal expenses, elimination of duplicative costs (including
with respect to software licensing expenses and fees with respect to transaction services agreements) and costs and expenses related
to information and technology systems establishment or modification), in each case in connection with the performance of the rights and
obligations under any transitions services agreement, shall be excluded,

 

(18)  
any non-cash expenses, accruals, reserves or income related to adjustments to historical tax exposures or tax asset valuation
allowances shall be excluded;

 

(19)  
[reserved]; and

 

(20)  
the following items shall be excluded:

 

(a)  
any net unrealized gain or loss (after any offset) resulting in such period from Hedging Obligations and the application of Accounting
Standards Codification Topic 815 “Derivatives and Hedging”; and

 

(b)  
any net foreign exchange gains or losses (whether or not realized) resulting from the impact of foreign currency changes on the
valuation of assets and liabilities on the consolidated balance sheet of the Borrower and the Restricted Subsidiaries (in each case,
including any net loss or gain resulting from hedge arrangements for currency exchange risk) and any net foreign exchange gains or losses
(whether or not realized) from the impact of foreign currency changes on intercompany accounts and in any event including any foreign
exchange translation or transaction gains or losses.

 

Solely
for purposes of calculating Consolidated EBITDA, the Net Income of the Borrower and the Restricted Subsidiaries shall be calculated without
deducting the income attributable to the minority equity interests of third parties in any non-Wholly Owned Restricted Subsidiary except
to the extent of dividends declared or paid in respect of such period or any prior period on the shares of Capital Stock of such Restricted
Subsidiary held by such third parties.

 

In
addition, to the extent not already accounted for in the Consolidated Net Income of the Borrower and the Restricted Subsidiaries, notwithstanding
anything to the contrary in the foregoing, Consolidated Net Income shall include (i) the amount of proceeds received during such
period from business interruption insurance in respect of insured claims for such period, (ii) the amount of proceeds as to which
the Borrower has determined that there is a reasonable basis that it will be reimbursed by the insurer in respect of such period from
business interruption insurance (with a deduction for any amount so added back to the extent denied by the applicable carrier in writing
within 180 days or not so reimbursed within 365 days) and (iii) reimbursements of any expenses and charges that are covered
by indemnification, reimbursement, guaranty, purchase price adjustment or other similar provisions in connection with any Permitted Investment
or any sale, conveyance, transfer or other disposition of assets permitted hereunder.

 

Notwithstanding
the foregoing, (x) for the purpose of Section 7.3 only (other than clauses  (E) and (F) of the definition
of Available Amount), there shall be excluded from Consolidated Net Income

 

    29 

     

    

any
income arising from any sale or other disposition not constituting a Permitted Investment made by the Borrower and the Restricted Subsidiaries,
any repurchases and redemptions of Investments that are not Permitted Investments from the Borrower and the Restricted Subsidiaries,
any repayments of loans and advances which do not constitute Permitted Investments by the Borrower or any of the Restricted Subsidiaries,
any sale of the stock of an Unrestricted Subsidiary or any distribution or dividend from an Unrestricted Subsidiary , in each case only
to the extent such amounts increase the amount of Restricted Payments, Investments and/or Restricted Debt Payments permitted under such
covenant pursuant to clauses  (E) and (F) of the definition of Available Amount and (y) for the purpose of the
definition of “Excess Cash Flow” only, there shall be excluded the income (or deficit) of any Person accrued prior to the
date it becomes a Restricted Subsidiary or is merged into or consolidated with the Borrower or any Restricted Subsidiary thereof.

 

“Consolidated
Non-Cash Charges”: for any period, the aggregate depreciation, amortization (including amortization of intangibles, deferred
financing fees, debt issuance costs, commissions, fees and expenses, expensing of any bridge, commitment or other financing fees, the
non-cash portion of interest expense resulting from the reduction in the carrying value under purchase accounting of outstanding Indebtedness
and commissions, discounts, yield and other fees and charges but excluding amortization of prepaid cash expenses that were paid in a
prior period), non-cash impairment, non-cash compensation (including in connection with options, restricted stock, restricted stock units
or other equity level awards under any Borrower incentive plan), non-cash rent and other non-cash expenses reducing Consolidated Net
Income for such period on a consolidated basis and otherwise determined in accordance with GAAP; provided that if any non-cash
charges referred to in this definition represent an accrual or reserve for potential cash items in any future period, the cash payment
in respect thereof in such future period shall be subtracted from Consolidated EBITDA in such future period to such extent paid.

 

“Consolidated
Total Indebtedness”: as of any date of determination, the aggregate principal amount of Indebtedness of the Borrower and the
Restricted Subsidiaries described in clauses (a)(i), (a)(ii) (excluding, for the avoidance of doubt, surety bonds, performance
bonds and similar instruments) and (solely with respect to the definition of “Total Net Leverage Ratio”) and (a)(iv)
of the definition of “Indebtedness”, determined on a consolidated basis, to the extent required to be recorded on a balance
sheet in accordance with GAAP, including, without duplication, the outstanding principal amount of the Term Loans; provided, that
the amount of revolving Indebtedness under this Agreement and any other revolving credit facility shall be computed based upon the period-ending
value of such Indebtedness during the applicable period; provided, further, that Consolidated Total Indebtedness shall
not include (x) Indebtedness in respect of any Qualified Receivables Financing permitted pursuant to Section 7.2(b)(xxi)
or (y) obligations in respect of letters of credit (including Letters of Credit), except to the extent of unreimbursed amounts
thereunder.

 

“Consolidated
Working Capital”: at any date, the excess of Consolidated Current Assets on such date over Consolidated Current Liabilities
on such date.

 

“Consolidated
Working Capital Adjustment”: for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated
Working Capital as of the beginning of such period exceeds (or is less than (in which case the Consolidated Working Capital Adjustment
will be a negative number)) Consolidated Working Capital as of the end of such period.

 

“Contingent
Obligations”: with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations
that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any
manner, whether directly or indirectly, including, any obligation of such Person, whether or not contingent:

 

    30 

     

    

(1)  
to purchase any such primary obligation or any property constituting direct or indirect security therefor,

 

(2)  
to advance or supply funds:

 

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

 

(b)  
to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the
primary obligor; or

 

(3)  
to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of
the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof.

 

“Contractual
Obligation”: as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other
undertaking to which such Person is a party or by which it or any of its property is bound.

 

“Contribution
Indebtedness”: Indebtedness of the Borrower or any Restricted Subsidiary in an aggregate principal amount not greater than
the aggregate amount of cash contributions (including such contributions in exchange for Equity Interests in the Borrower) (other than
Excluded Contributions, any contributions received in connection with the exercise of the Cure Right or any such cash contributions that
have been used to increase the Available Amount) made to the common equity capital of the Borrower after the Closing Date, in each case
to the extent not previously applied in determining the permissibility of a transaction under the Loan Documents where such permissibility
was (or may have been) contingent on the receipt of availability of such amount.

 

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

 

“Corresponding
Tenor”: with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment
period having approximately the same length (disregarding business day adjustment) as such Available Tenor.

 

“Covered
Party” as defined in Section 11.23.

 

“Cure
Amount”: as defined in Section 9.3(a).

 

“Cure
Period”: as defined in Section 9.3(a).

 

“Cure
Right”: as defined in Section 9.3(a).

 

“Daily
Simple SOFR”: for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the
Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining
“Daily Simple SOFR” for business loans; provided, that if the Administrative Agent decides that any such convention is not
administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable
discretion.

 

“Debt
Fund Affiliate”: an Affiliate of the Borrower (other than the Borrower and any of its Subsidiaries) that is a bona fide debt
fund or an investment vehicle that is engaged in the making,

 

    31 

     

    

purchasing,
holding or otherwise investing in commercial loans, bonds and similar extensions of credit in the ordinary course of business with respect
to which the Borrower and its Affiliates (other than Debt Fund Affiliates) do not directly or indirectly possess the power to direct
or cause the direction of the investment policies of such entity.

 

“Debt
Service Coverage Ratio”: the ratio of:

 

(a)  Consolidated
EBITDA less Capital Expenditures, less cash Taxes (including, without any limitation, any payment(s) made in cash for Tax
on net income or any Cash Distributions to Borrower or its members for purposes of paying income tax liabilities), each for the most
recently completed four fiscal quarter period for which the financial statements required by Section 6.1(a) or (b),
as the case may be, have been or were required to have been delivered hereunder, to

 

(b)  Consolidated
Interest Expense paid in cash plus the principal amount of all Indebtedness scheduled to be paid, during the most recently completed
four fiscal quarter period.

 

For
purposes of making the computation referred to above, Investments (including any designation of a Subsidiary as a Restricted Subsidiary
or an Unrestricted Subsidiary), acquisitions, dispositions, mergers, consolidations and disposed or discontinued operations (as determined
in accordance with GAAP), in each case with respect to an operating unit of a business, and Operational Changes that the Borrower or
any of the Restricted Subsidiaries has both determined to make and made after the Closing Date and during the four-quarter reference
period or subsequent to such reference period and on or prior to or substantially simultaneously with the Calculation Date (each, for
purposes of this definition, a “pro forma event”) shall be calculated on a Pro Forma Basis assuming that all such
Investments, acquisitions, dispositions, mergers (including the Transactions), consolidations, Operational Changes and discontinued operations
(and the change of any associated fixed charge obligations and the change in Consolidated EBITDA resulting therefrom) had occurred on
the first day of the four-quarter reference period. If, since the beginning of such period, any Person that subsequently became a Restricted
Subsidiary or was merged with or into the Borrower or any Restricted Subsidiary since the beginning of such period shall have made or
effected any Investment, acquisition, disposition, merger, consolidation or discontinued operation, in each case with respect to an operating
unit of a business, or Operational Changes that would have required adjustment pursuant to this definition, then the Debt Service Coverage
Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, merger, consolidation,
discontinued operation or Operational Changes had occurred at the beginning of the applicable four-quarter period.

 

For
purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made
in good faith by a responsible financial or accounting officer of the Borrower to the extent identifiable and supportable. Any such pro
forma calculation may include, without duplication,  adjustments appropriate to reflect cost savings, operating expense reductions,
restructuring charges and expenses and synergies reasonably expected to result from the applicable event to the extent set forth in the
definition of “Consolidated EBITDA”.

 

If
any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated
as if the rate in effect on the Debt Service Coverage Ratio Calculation Date had been the applicable rate for the entire period (taking
into account any Hedging Obligations applicable to such Indebtedness). Interest on a Capitalized Lease Obligation shall be deemed to
accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Borrower to be the rate of interest
implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest
on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based 

 

    32 

     

    

upon
the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined
at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed
to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Borrower may designate.
In connection with any Limited Condition Transaction, the Borrower may determine baskets and ratios in accordance with Section 1.4.

 

“Debtor
Relief Laws”: the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment
for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the
United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.

 

“Declined
Proceeds”: as defined in Section 2.11(f).

 

“Default”:
any of the events specified in Section 9.1, whether or not any requirement for the giving of notice, the lapse of time, or
both, has been satisfied.

 

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

 

“Defaulting
Lender”: any Lender that (a) has refused (whether verbally or in writing) to fund (and has not retracted such refusal),
or has failed to fund, any portion of the Term Loans, Revolving Loans, participations in L/C Obligations or participations in Designated
Acquisition Swingline Loans required to be funded by it hereunder (collectively, its “Funding Obligations”) within
one Business Day of the date required to be funded by such Lender hereunder unless such Lender notifies the Administrative Agent and
the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to
funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing),
(b) has notified the Administrative Agent or the Borrower in writing that it does not intend to (or will not be able to) satisfy
such Funding Obligations or has made a public statement to that effect with respect to its Funding Obligations or generally under other
agreements in which it commits to extend credit (unless such writing or public statement relates to such Lender’s obligation to
fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding
(which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement)
cannot be satisfied), (c) has otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required
to be paid by it hereunder within one Business Day of the date when due, (d) has failed, within three (3) Business Days after written
request by the Administrative Agent, to confirm in a manner reasonably satisfactory to the Administrative Agent that it will comply with
its Funding Obligations; provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (d)
upon the Administrative Agent’s receipt of such confirmation, or (e) has, or has a direct or indirect parent company that
has, (i) admitted in writing that it is insolvent or pay its debts as they become due, (ii) become the subject of a proceeding
under any Debtor Relief Law, (iii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or
similar Person charged with reorganization or liquidation of its business or a substantial part of its assets or a custodian appointed
for it, (iv) is or becomes subject to a forced liquidation, (v) makes a general assignment for the benefit of creditors or
is otherwise adjudicated as, or determined by any Governmental Authority having regulatory authority over such person or its assets to
be insolvent or bankrupt, (vi) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any
such proceeding or appointment or action or (vii) become the subject of a Bail-In Action; provided that a Lender shall not
be a Defaulting Lender under this clause (e) solely by virtue of the ownership or acquisition of any equity interest in that
Lender or the existence of an Undisclosed Administration in respect of that Lender (or, in such any case,

 

    33 

     

    

any
direct or indirect parent company thereof) by a Governmental Authority so long as such ownership interest or Undisclosed Administration
does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement
of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow
or disaffirm any contracts or agreements made with such Lender.

 

“Defaulting
Lender Fronting Exposure”: at any time there is a Defaulting Lender, (a) with respect to an Issuing Lender, such Defaulting
Lender’s Pro Rata Share of the Outstanding Amount of L/C Obligations of such Issuing Lender other than L/C Obligations as to which
such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with
the terms hereof and (b) with respect to the Designated Acquisition Swingline Lender, such Defaulting Lender’s Pro Rata Share of
Designated Acquisition Swingline Loans other than Designated Acquisition Swingline Loans as to which such Defaulting Lender’s participation
obligation has been reallocated to other Revolving Lenders or Cash Collateralized in accordance with the terms hereof.

 

“Designated
Non-cash Consideration”: the Fair Market Value of non-cash consideration received by the Borrower or any of its Restricted
Subsidiaries in connection with an Asset Sale that is determined by the Borrower to be Designated Non-cash Consideration, less
the amount of Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration.

 

“Designated
Preferred Stock”: Preferred Stock of the Borrower or any direct or indirect parent of the Borrower, as applicable (other than
Disqualified Stock), that is issued for cash (other than to the Borrower or any of the Subsidiaries or an employee stock ownership plan
or trust established by the Borrower or any of its Subsidiaries) and is so determined by the Borrower to be Designated Preferred Stock,
the cash proceeds of which are excluded from the calculation set forth in clauses (B) and (C) of the definition of “Available
Amount”.

 

“Designated
Acquisition Swingline Borrowing”: utilization of the Designated Acquisition Swingline Commitment consisting of the assumption
of or guarantee by the Borrower of BRP C Corp Acquisition Indebtedness treated as a Designated Acquisition Swingline Loan hereunder.

 

“Designated
Acquisition Swingline Commitment”: the obligation of one or more Designated Acquisition Swingline Lenders to hold Designated
Acquisition Swingline Loans pursuant to Section 2.6 in an aggregate principal amount at any one time outstanding not to exceed
the lesser of (x) the aggregate outstanding principal amount of any BRP C Corp Acquisition Indebtedness and (y) $300,000,000 (or such
higher amount agreed to by the Designated Acquisition Swingline Lenders). For the avoidance of doubt, the availability of Designated
Acquisition Swingline Commitments shall be reduced by the amount of BRP C Corp. Acquisition Indebtedness that are Designated Acquisition
Swingline Loans.

 

“Designated
Acquisition Swingline Lender”: (i) JPMCB, in its capacity as the lender of Designated Acquisition Swingline Loans or (ii) one
or more other Revolving Lenders approved by the Administrative Agent and the Borrower and that agrees in writing to act in such capacity
(in such capacity).

 

“Designated
Acquisition Swingline Loan Note”: a promissory note substantially in the form of Exhibit F-3.

 

“Designated
Acquisition Swingline Loans”: as defined in Section 2.6.

 

“Designated
Acquisition Swingline Participation Amount”: as defined in Section 2.7(c).

 

    34 

     

    

“Disposition”:
with respect to any property (including Capital Stock of the Borrower or any Restricted Subsidiary), any sale, lease, Sale Leaseback
Transaction, assignment, conveyance, transfer or other disposition thereof (including by allocation of assets by division, merger or
consolidation or amalgamation, or allocation of assets to any series of a limited liability company and excluding the granting of a Lien
permitted hereunder) and any issuance of Capital Stock of any Restricted Subsidiary. The terms “Dispose” and “Disposed
of” shall have correlative meanings.

 

“Disqualified
Lender”: (i) such banks, financial institutions or other Persons separately identified in writing by the Borrower to the
Joint Lead Arrangers on September 22, 2020 (or any affiliates of such entities that are readily identifiable as affiliates solely on
the basis of their names), (ii) competitors of the Borrower or any of its Subsidiaries (other than bona fide fixed income investors or
debt funds) identified in writing from time to time by email to JPMDQ_contact@jpmorgan.com (and affiliates of such entities that are
readily identifiable as affiliates solely on the basis of their names or that are identified to us from time to time in writing by you
(other than bona fide fixed income investors or debt funds); provided that any additional designation permitted by the foregoing
shall not become effective until three (3) Business Days following delivery to the Administrative Agent by email; provided, further,
that in no event shall any notice given pursuant to this definition apply to retroactively disqualify any Person who previously acquired
and continues to hold, any Loans, Commitments or participations prior to the receipt of such notice.

 

“Disqualified
Stock”: with respect to any Person, any Capital Stock of such Person that, by its terms (or by the terms of any security into
which it is convertible or for which it is redeemable or exchangeable, in each case at the option of the holder thereof), or upon the
happening of any event:

 

(1)  
matures or is mandatorily redeemable (other than as a result of a change of control or asset sale), pursuant to a sinking fund
obligation or otherwise,

 

(2)  
is convertible or exchangeable for Indebtedness or Disqualified Stock, or

 

(3)  
is redeemable at the option of the holder thereof, in whole or in part,

 

in
each case prior to the then Latest Maturity Date in respect of the Term Facility (other than as a result of a change of control or asset
sale to the extent permitted under clause (1) above); provided, however, that only the portion of Capital Stock
that so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof
prior to such date shall be deemed to be Disqualified Stock; provided, further, however, that if such Capital Stock
is issued to any plan for the benefit of employees of the Borrower or its Subsidiaries or by any such plan to such employees, such Capital
Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Borrower or any Restricted Subsidiary
in order to satisfy applicable statutory or regulatory obligations; provided, further, however, that any Capital
Stock held by any future, current or former employee, director, manager or consultant (or their respective trusts, estates, investment
funds, investment vehicles or immediate family members), of the Borrower, any of its Subsidiaries, any of its direct or indirect parent
companies or any other entity in which the Borrower or a Restricted Subsidiary has an Investment and is designated in good faith as an
“affiliate” by the Board of Directors of the Borrower (or the compensation committee thereof), in each case pursuant to any
stockholders’ agreement, management equity plan, stock option plan or any other management or employee benefit plan or agreement
shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Borrower or any Restricted Subsidiary;
provided, further, however, that any class of Capital Stock of such Person that by its terms authorizes such Person
to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified Stock shall not be deemed to be Disqualified
Stock.

 

    35 

     

    

“Distribution”
for any Person means, with respect to any Capital Stock of that Person, (i) the declaration or payment of any dividend or distribution
on or with respect to such Capital Stock, (ii) the retirement, redemption, purchase, withdrawal, or other acquisition for value of such
Capital Stock (including the purchase of warrants, rights, or other options to acquire such interests), or (iii) any other payment by
that Person with respect to such Capital Stock.

 

“Dollar
Equivalent” means, on any date of determination, (a) with respect to any amount denominated in Dollars, such amount, and (b)
with respect to any amount in any other currency, the equivalent in Dollars of such amount, determined by the Administrative Agent or
the Issuing Lender, as applicable, pursuant to Section 1.6 using the Exchange Rate with respect to such currency at the time in
effect under the provisions of such Section.

 

“Dollars”
and “$”: dollars in lawful currency of the United States.

 

“Dutch
Auction”: one or more purchases (each, a “Purchase”) by a Permitted Auction Purchaser or an Affiliated Lender
(either, a “Purchaser”) of Term Loans; provided that, each such Purchase is made on the following basis:

 

(a)  
(i) the Purchaser will notify the Administrative Agent in writing (a “Purchase Notice”) (and the Administrative
Agent will deliver such Purchase Notice to each relevant Lender) that such Purchaser wishes to make an offer to purchase from each Term
Lender and/or each Lender with respect to any Class of Term Loans on an individual tranche basis Term Loans, in an aggregate principal
amount as is specified by such Purchaser (the “Term Loan Purchase Amount”) with respect to each applicable tranche,
subject to a range or minimum discount to par expressed as a price at which range or price such Purchaser would consummate the Purchase
(the “Offer Price”) of such Term Loans to be purchased (it being understood that different Offer Prices and/or Term
Loan Purchase Amounts, as applicable, may be offered with respect to different tranches of Term Loans and, in such an event, each such
offer will be treated as a separate offer pursuant to the terms of this definition); provided that the Purchase Notice shall specify
that each Return Bid (as defined below) must be submitted by a date and time to be specified in the Purchase Notice, which date shall
be no earlier than the second Business Day following the date of the Purchase Notice and (ii) the Term Loan Purchase Amount specified
in each Purchase Notice delivered by such Purchaser to the Administrative Agent shall not be less than $10,000,000 in the aggregate;

 

(b)  
such Purchaser will allow each Lender holding the Class of Term Loans subject to the Purchase Notice to submit a notice of participation
(each, a “Return Bid”) which shall specify (i) one or more discounts to par of such Lender’s tranche or
tranches of Term Loans subject to the Purchase Notice expressed as a price (each, an “Acceptable Price”) (but in no
event will any such Acceptable Price be greater than the highest Offer Price for the Purchase subject to such Purchase Notice) and (ii) the
principal amount of such Lender’s tranches of Term Loans at which such Lender is willing to permit a purchase of all or a portion
of its Term Loans to occur at each such Acceptable Price (the “Reply Amount”);

 

(c)  
based on the Acceptable Prices and Reply Amounts of the Term Loans as are specified by the Lenders, such Purchaser will determine
the applicable discount (the “Applicable Discount”), which will be the lower of (i) the lowest Acceptable Price
at which such Purchaser can complete the Purchase for the entire Term Loan Purchase Amount and (ii) in the event that the aggregate
Reply Amounts relating to such Purchase Notice are insufficient to allow such Purchaser to complete a purchase of the entire Term Loan
Purchase Amount, the highest Acceptable Price that is less than or equal to the Offer Price;

 

    36 

     

    

(d)  
such Purchaser shall purchase Term Loans from each Lender with one or more Acceptable Prices that are equal to or less than the
Applicable Discount at the Applicable Discount (such Term Loans being referred to as “Qualifying Loans” and such Lenders
being referred to as “Qualifying Lenders”), subject to clauses (e), (f), (g) and (h)
below;

 

(e)  
such Purchaser shall purchase the Qualifying Loans offered by the Qualifying Lenders at the Applicable Discount; provided
that if the aggregate principal amount required to purchase the Qualifying Loans would exceed the Term Loan Purchase Amount, such Purchaser
shall purchase Qualifying Loans ratably based on the aggregate principal amounts of all such Qualifying Loans tendered by each such Qualifying
Lender;

 

(f)  
the Purchase shall be consummated pursuant to and in accordance with Section 11.6(b) and, to the extent not otherwise
provided herein, shall otherwise be consummated pursuant to procedures (including as to timing, rounding and minimum amounts, Interest
Periods, and other notices by such Purchaser) reasonably acceptable to the Administrative Agent (provided that, subject to the
proviso of clause (g) of this definition, such Purchase shall be required to be consummated no later than ten (10) Business
Days after the time that Return Bids are required to be submitted by Lenders pursuant to the applicable Purchase Notice);

 

(g)  
upon submission by a Lender of a Return Bid, subject to the foregoing clause (f), such Lender will be irrevocably
obligated to sell the entirety or its pro rata portion (as applicable pursuant to clause (e) above) of the Reply Amount
at the Applicable Discount plus accrued and unpaid interest through the date of purchase to such Purchaser pursuant to Section 11.6(b)
and as otherwise provided herein; provided that as long as no Return Bids have been submitted each Purchaser may rescind its
Purchase Notice by notice to the Administrative Agent; and

 

(h)  
purchases by a Permitted Auction Purchaser of Qualifying Loans shall result in the immediate Cancellation of such Qualifying Loans.

 

“Early
Opt-in Election”: if the then-current Benchmark is Adjusted LIBO Rate, the occurrence of:

 

		(1)	a notification by the Administrative
                                            Agent to (or the request by the Borrower to the Administrative Agent to notify) each of the
                                            other parties hereto that at least five currently outstanding dollar-denominated syndicated
                                            credit facilities at such time contain (as a result of amendment or as originally executed)
                                            a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark
                                            rate (and such syndicated credit facilities are identified in such notice and are publicly
                                            available for review), and

 

		(2)	the joint election by the Administrative
                                            Agent and the Borrower to trigger a fallback from Adjusted LIBO Rate and the provision by
                                            the Administrative Agent of written notice of such election to the Lenders.

 

“ECF Percentage”:
(a) 50% so long as the Total First Lien Net Leverage Ratio determined on a Pro Forma Basis as of the last day of such fiscal year is
greater than 4.75 to 1.00 (with only the amount of Excess Cash Flow required to be swept so that the Total First Lien Net Leverage Ratio
determined on a Pro Forma Basis as of the last day of such fiscal year would be no greater than 4.75 to 1.00) and (b) otherwise, 0%.

 

“EEA
Financial Institution”: means (a) any credit institution or investment firm established in any EEA Member Country which
is subject to the supervision of an EEA Resolution Authority, (b) any

 

    37 

     

    

entity
established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any
financial institution established in an EEA Member Country which is a subsidiary of an institution described in clause (a)
or (b) of this definition and is subject to consolidated supervision with its parent.

 

“EEA
Member Country”: means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

“EEA
Resolution Authority”: means any public administrative authority or any person entrusted with public administrative authority
of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

“Electronic
Signature” means an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted
by a Person with the intent to sign, authenticate or accept such contract or record.

 

“Eligible
Assignee”: (a) any Lender, any Affiliate of a Lender and any Approved Fund (any two or more Approved Funds with respect
to a particular Lender being treated as a single Eligible Assignee for all purposes hereof), and (b) any commercial bank, insurance
company, financial institution, investment or mutual fund or other entity that is an “accredited investor” (as defined in
Regulation D under the Securities Act) and which extends credit or buys commercial loans in the ordinary course; provided
that “Eligible Assignee” (x) shall include (i) Affiliated Lenders, subject to the provisions of Section 11.6(b)(iv)
and (ii) Permitted Auction Purchasers, subject to the provisions of Section 11.6(b)(iii), and solely to the extent
that such Permitted Auction Purchasers purchase or acquire Term Loans pursuant to a Dutch Auction or in open market purchases and effect
a Cancellation immediately upon such contribution, purchase or acquisition pursuant to documentation reasonably satisfactory to the Administrative
Agent and (y) shall not include any Disqualified Lender or any natural person.

 

“Environmental
Laws”: any and all foreign, Federal, state, local or municipal laws, rules, orders, regulations, statutes, ordinances, codes,
decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing
liability or standards of conduct concerning Materials of Environmental Concern, human health and safety with respect to exposure to
Materials of Environmental Concern, and protection or restoration of the environment as now or may at any time hereafter be in effect.

 

“Equity
Holder”: any direct or indirect equity holder of the Borrower.

 

“Equity
Interests”: Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any Indebtedness
that is convertible into, or exchangeable for, Capital Stock).

 

“Equity
Offering”: any public or private sale after the Closing Date of common stock or Preferred Stock of the Borrower or any direct
or indirect parent of the Borrower, as applicable (other than Disqualified Stock), other than:

 

(1)  
public offerings with respect to such Person’s common stock registered on Form S-8; and

 

(2)  
an issuance to any Restricted Subsidiary.

 

“ERISA”:
the Employee Retirement Income Security Act of 1974, as amended from time to time.

 

    38 

     

    

“ERISA
Event” as defined in Section 4.11.

 

“Escrowed
Proceeds” means the proceeds of Indebtedness permitted by Section 7.2 which are maintained under escrow or a similar contingent
release arrangement and are permitted to be released solely for (x) Permitted Acquisitions subject to such Indebtedness being permitted
by Section 7.2 on a pro forma basis on the date of release from escrow or similar contingent release arrangement and/or (y) repayment
of Indebtedness. For the avoidance of doubt, funds in the Segregated Acquisition Amount Deposit Account are Escrowed Proceeds.

 

“EU
Bail-In Legislation Schedule”: means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor
person), as in effect from time to time.

 

“Euro”
and “€” means the lawful currency of the European Union as constituted by the Treaty of Rome which established
the European Community, as such treaty may be amended from time to time and as referred to in the European Monetary Union legislation.

 

“Eurocurrency
Loans”: Loans that bear interest at a rate based on the definition of “Eurocurrency Rate”, other than any ABR Loan.

 

“Eurocurrency
Rate”: with respect to any Borrowing of Eurocurrency Loans for any Interest Period, the London interbank offered rate as administered
by ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for the applicable currency for
a period equal in length to such Interest Period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate
(or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays
such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the
Administrative Agent in its reasonable discretion at approximately 11:00 a.m., London time, on the relevant Quotation Date (the “LIBOR
Screen Rate”); provided that (a) with respect to any Revolving Loan, if the LIBOR Screen Rate shall be less than 0.00%,
such rate shall be deemed to be 0.00% for purposes of this Agreement and (b) with respect to any Term Loan, if the LIBOR Screen Rate
shall be less than 0.50%, such rate shall be deemed to be 0.50% for purposes of this Agreement; provided further that if the LIBOR
Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) with respect
to the applicable currency then the Eurocurrency Rate shall be the Interpolated Rate; provided that (x) with respect to any Revolving
Loan, if any Interpolated Rate shall be less than 0.00%, such rate shall be deemed to be 0.00% for purposes of this Agreement and (y)
with respect to any Term Loan, if any Interpolated Rate shall be less than 0.50%, such rate shall be deemed to be 0.50% for purposes
of this Agreement; and.

 

“Eurocurrency
Tranche”: the collective reference to Eurocurrency Loans under a particular Facility the then current Interest Periods with
respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made
on the same day).

 

“Event
of Default”: any of the events specified in Section 9.1; provided that any requirement for the giving of
notice, the lapse of time, or both, has been satisfied.

 

“Excess
Cash Flow”: for any Excess Cash Flow Period, the excess, if positive, of

 

(a)  
the sum, without duplication, of

 

(i)  
Consolidated Net Income for such Excess Cash Flow Period,

 

    39 

     

    

(ii)  
the amount of Consolidated Non-Cash Charges deducted in arriving at such Consolidated Net
Income, but excluding any such Consolidated Non-Cash Charges representing an accrual or reserve for a potential cash item in any future
period,

 

(iii)  
the Consolidated Working Capital Adjustment for such Excess Cash Flow Period,

 

(iv)  
the aggregate net amount of non-cash loss on the Disposition of property by the Borrower
and the Restricted Subsidiaries during such Excess Cash Flow Period (other than sales in the ordinary course of business), to the extent
deducted in arriving at such Consolidated Net Income,

 

(v)  
[reserved], and

 

(vi)  
cash receipts in respect of Swap Agreements during such Excess Cash Flow Period to the extent
not otherwise included in Consolidated Net Income, over

 

(b)  
the sum, without duplication, of

 

(i)  
the amount of all non-cash credits included in arriving at such Consolidated Net Income
(but excluding any non-cash credit to the extent representing a reversal of an accrual or reserve described in clause (a)(ii)),

 

(ii)  
to the extent not deducted in determining Consolidated Net Income, Permitted Tax Distributions
and Taxes of any Group Member paid or payable with respect to such Excess Cash Flow Period and, if payable, for which reserves have been
established to the extent required by GAAP, 

 

(iii)  
all mandatory prepayments of the Term Loans pursuant to Section 2.11 made during
such Excess Cash Flow Period as a result of any Asset Sale or Recovery Event, but only to the extent that such Asset Sale or Recovery
Event resulted in a corresponding increase in Consolidated Net Income,

 

(iv)  
the aggregate amount actually paid by the Borrower and the Restricted Subsidiaries in cash
during such Excess Cash Flow Period on account of Permitted Acquisitions or other Investments permitted hereunder (including any earn-out
payments, deferred consideration and other contingent consideration, but excluding (A) the principal amount of Indebtedness Incurred
in connection with such expenditures (other than Indebtedness under any revolving credit facility), (B) the proceeds of equity contributions
to, or equity issuances by the Borrower or any Restricted Subsidiary to finance such expenditures) and (C) Permitted Acquisitions and
other Investments made in such Excess Cash Flow Period where a certificate in the form contemplated by the preceding clause (iii)
was previously delivered,

 

(v)  
to the extent not funded with the proceeds of Indebtedness (other than Indebtedness under
any revolving credit facility), the aggregate amount of all regularly scheduled principal amortization payments of Funded Debt made on
their due date during such Excess Cash Flow Period (including payments in respect of Capitalized Lease Obligations to the extent not
deducted in the calculation of Consolidated Net Income),

 

(vi)  
to the extent not funded with the proceeds of Indebtedness (other than Indebtedness under
any revolving credit facility), the aggregate amount of all optional prepayments, repurchases and redemptions of Indebtedness (other
than (x) the Loans and (y) in respect of any 

 

    40 

     

    

revolving
credit facility to the extent there is not an equivalent permanent reduction in commitments thereunder) made during the Excess Cash Flow
Period,

 

(vii)  
the aggregate net amount of non-cash gains on the Disposition of property by the Borrower
and the Restricted Subsidiaries during such Excess Cash Flow Period (other than sales of inventory in the ordinary course of business),
to the extent included in arriving at such Consolidated Net Income,

 

(viii)  
to the extent not funded with proceeds of Indebtedness (other than Indebtedness under any
revolving credit facility), the aggregate amount of all Restricted Payments made in cash (other than such Restricted Payments made to
the Borrower or any Restricted Subsidiary), during such Excess Cash Flow Period,

 

(ix)  
any cash payments that are made during such Excess Cash Flow Period and have the effect
of reducing an accrued liability that was not accrued during such period,

 

(x)  
the amount of Taxes paid in cash during such Excess Cash Flow Period to the extent they
exceed the amount of Tax expense deducted in determining Consolidated Net Income for such period,

 

(xi)  
to the extent not deducted in determining Consolidated Net Income for such period, any amounts
paid by the Restricted Subsidiaries during such period that are reimbursable by the seller, or other unrelated third party, in connection
with a Permitted Acquisition or other permitted Investments (and provided that once so reimbursed, such amounts shall increase Excess
Cash Flow for the period in which received),

 

(xii)  
the aggregate amount of any premium, make-whole or penalty payments actually paid in cash
by the Borrower and any Restricted Subsidiary during such period that are required to be made in connection with any prepayment or satisfaction
and discharge of Indebtedness,

 

(xiii)  
cash expenditures in respect of Swap Agreements during such Excess Cash Flow Period to the
extent not deducted in arriving at such Consolidated Net Income,

 

(xiv)  
the amount of cash payments made in respect of pensions and other post-employment benefits
in such period to the extent not deducted in arriving at such Consolidated Net Income,

 

(xv)  
the amount of Cash Equivalents subject to cash collateral or other deposit arrangements
made with respect to Letters of Credit or Swap Agreements; provided, that if such Cash Equivalents cease to be subject to those
arrangements, such amount shall be added back to Excess Cash Flow for the subsequent Excess Cash Flow Period when such arrangements cease,

 

(xvi)  
a reserve established by the Borrower or any Restricted Subsidiary in good faith in respect
of deferred revenue that any Group Member generated during such Excess Cash Flow Period; provided that, to the extent all or any
portion of such deferred revenue is not returned to customers during the immediately succeeding Excess Cash Flow Period or otherwise
included in the Consolidated Net Income in the immediately subsequent year, such deferred revenue shall be added back to Excess Cash
Flow for such subsequent Excess Cash Flow Period, 

 

(xvii)  
to the extent not funded with the proceeds of Indebtedness (other than Indebtedness under
any revolving credit facility), cash payments by the Borrower and the Restricted 

 

    41 

     

    

Subsidiaries
in respect of long-term liabilities to the extent not deducted in arriving at such Consolidated Net Income; provided that no such
payments are with respect to long-term liabilities with an Affiliate of the Borrower (or are guaranteed by an Affiliate of the Borrower),
and

 

(xviii)  
amounts added to Consolidated Net Income pursuant to clauses (1), (3),
(4), (11), (17) and (18) of the definition of “Consolidated Net Income.”

 

“Excess
Cash Flow Application Date”: as defined in Section 2.11(b).

 

“Excess
Cash Flow Period”: each fiscal year of the Borrower beginning with the fiscal year ending December 31, 2021.

 

“Exchange
Act”: the Securities Exchange Act of 1934, as amended from time to time, and any successor statute.

 

“Exchange
Rate” means, on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at
which such other currency may be exchanged into Dollars at the time of determination on such day on the Reuters WRLD Page for such currency.
In the event that such rate does not appear on any Reuters WRLD Page, the Exchange Rate shall be determined by reference to such other
publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Borrower, or, in the
absence of such an agreement, such Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the Administrative
Agent in the market where its foreign currency exchange operations in respect of such currency are then being conducted, at or about
such time as the Administrative Agent shall elect after determining that such rates shall be the basis for determining the Exchange Rate,
on such date for the purchase of Dollars for delivery two Business Days later, provided that if at the time of any such determination,
for any reason, no such spot rate is being quoted, the Administrative Agent may use any reasonable method it deems appropriate to determine
such rate, and such determination shall be conclusive absent manifest error.

 

“Excluded
Assets”: shall mean, with respect to any Loan Party, (i) any fee-owned real property not constituting Material Property and
any leasehold interest in real property (it being understood there will be no requirement to obtain any landlord waivers, estoppels or
collateral access letters), (ii) motor vehicles, aircraft and other assets subject to certificates of title, except to the extent a security
interest therein can be perfected by the filing of a UCC financing statement, (iii) letter of credit rights (other than to the extent
consisting of supporting obligations with respect to other collateral to the extent a security interest therein can be perfected by the
filing of a UCC financing statement) and commercial tort claims with a value of less than $15,000,000, (iv) any governmental licenses
or state or local franchises, charters and authorizations, to the extent security interests in such licenses, franchises, charters or
authorizations are prohibited or restricted thereby after giving effect to the applicable anti-assignment provisions of the UCC or other
applicable law, (v) pledges and security interests prohibited or restricted by applicable law, rule or regulation (including any requirement
thereunder to obtain the consent of any governmental or regulatory authority) after giving effect to the applicable anti-assignment provisions
of the UCC or other applicable law, (vi) (A) Margin Stock, (B) Equity Interests in any Person that is not a wholly-owned Restricted Subsidiary,
but only to the extent that (x) the organizational documents or other agreements with other equity holders restrict or do not permit
the pledge of such Equity Interests or (y) the pledge of such Equity Interests (including any exercise of remedies) would result in a
change of control, repurchase obligation or any adverse regulatory consequences to any of the Loan Parties or such Restricted Subsidiary,
(C) Equity Interests in Captive Insurance Subsidiaries, and (D) voting stock of any CFC or CFC Holdco in excess of 65% of the voting
stock of such CFC or CFC Holdco, (vii) any lease, license or agreement or any property subject to a purchase money security interest,
capital lease obligations or similar arrangement permitted under this Agreement, in each case, to the extent that a grant of a security

 

    42 

     

    

interest
therein would violate or invalidate such lease, license or agreement or purchase money or similar arrangement or create a right of termination
in favor of any other party thereto (other than a Loan Party or Restricted Subsidiary) after giving effect to the applicable anti-assignment
provisions of the UCC or other applicable law, other than proceeds and receivables thereof, the assignment of which is expressly deemed
effective under the Uniform Commercial Code or other applicable law notwithstanding such prohibition, (viii) any intent-to-use trademark
application prior to the filing of a “Statement of Use” or “Amendment to Allege Use” with respect thereto, to
the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity
or enforceability of such intent-to-use trademark application under applicable federal law, (ix) (A) payroll and other employee wage
and benefit accounts, (B) withholding tax accounts, including, without limitation, sales tax accounts, (C) escrow accounts (other than
segregated escrow accounts or similar accounts holding Escrowed Proceeds (including, for the avoidance of doubt, the Segregated Acquisition
Amount Deposit Account)) and (D) fiduciary or trust accounts, in each case of clauses (A) through (D), to the extent maintained
for the benefit of unaffiliated third parties (other than a Loan Party) solely for such purpose, and the funds or other property held
in or maintained in such account for such purposes, and (x) assets in circumstances where the cost or burden of obtaining a security
interest in such assets would be excessive in light of the practical benefit to the Lenders afforded thereby as reasonably determined
between the Borrower and the Administrative Agent; provided, however, that Excluded Assets shall not include any proceeds,
substitutions or replacements of any Excluded Assets referred to in clause (i) through (x) (unless such proceeds, substitutions
or replacements would constitute Excluded Assets referred to in clauses (i) through (x)).

 

“Excluded
Contributions”: the net cash proceeds and Cash Equivalents or Fair Market Value of assets or property received by or contributed
to the Borrower or any Restricted Subsidiary after the Closing Date (other than (i) such amounts provided by or contributed to the
Borrower or any Restricted Subsidiary from or by any Restricted Subsidiary and (ii) Permitted Cure Securities) from:

 

(a)  
contributions to its common or preferred equity capital, and

 

(b)  
the sale (other than to the Borrower or a Restricted Subsidiary or management equity plan or stock option plan or any other management
or employee benefit plan or agreement) of Capital Stock (other than Refunding Capital Stock, Disqualified Stock and Designated Preferred
Stock) of the Borrower or any direct or indirect parent, in each case of clauses (a) and (b) designated by the Borrower
as an Excluded Contribution, the proceeds of which are excluded from the calculation set forth in clause (C) of the definition
of “Available Amount.”

 

“Excluded
ECP Guarantor”: in respect of any Swap Obligation, any Loan Party that is not a Qualified ECP Guarantor at the time such Swap
Obligation is Incurred.

 

“Excluded
Subsidiary”: any Subsidiary of the Borrower that is, at any time of determination, (i) not a Wholly Owned Subsidiary,
provided that such Subsidiary shall cease to be an Excluded Subsidiary at the time such Subsidiary becomes a Wholly Owned Subsidiary,
(ii) a special purpose securitization vehicle (or similar entity), including any Receivables Subsidiary created pursuant to a transaction
permitted under this Agreement, in each case reasonably satisfactory to the Administrative Agent, (iii) [reserved], (iv) a
not-for-profit Subsidiary, (v) a Captive Insurance Subsidiary, (vi) a CFC, (vii) a CFC Holdco, (viii) a Subsidiary
of a CFC, (ix) an Unrestricted Subsidiary, (x) any Foreign Subsidiary, (xi) any Immaterial Subsidiary (provided
that, in the absence of any other applicable limitation, such Subsidiary shall cease to be an Excluded Subsidiary at the time such Subsidiary
is no longer an Immaterial Subsidiary), (xii) for which the granting of a pledge or security interest would be prohibited or restricted
by applicable law whether on the Closing Date or thereafter or by contract existing on the Closing Date, or, if such Subsidiary is acquired
after the Closing Date, by contract existing when such Subsidiary is

 

    43 

     

    

acquired
(so long as such prohibition is not created in contemplation of such acquisition), including any requirement to obtain the consent of
any Governmental Authority or third party pursuant to such contract (unless such consent has been obtained), (xiii) [reserved] or (xiv)
for which the cost of providing a Guarantee is excessive in relation to the value afforded thereby (as reasonably agreed by the Borrower
and the Administrative Agent); provided that, notwithstanding the foregoing, the Borrower may designate any U.S. Subsidiary that
is an Excluded Subsidiary as a Guarantor and may designate, with the consent of the Administrative Agent any Foreign Subsidiary that
is an Excluded Subsidiary as a Guarantor, by causing such Subsidiary to execute a Guarantor Joinder Agreement, whereupon such Subsidiary
shall cease to constitute an Excluded Subsidiary and such Subsidiary and the Loan Party that holds the Equity Interests of such Subsidiary
shall in connection therewith comply with the provisions of Section 6.9(c) and may, thereafter, re-designate such Subsidiary as
an Excluded Subsidiary (so long as such Subsidiary otherwise then qualified as an Excluded Subsidiary), upon which re-designation such
Subsidiary shall automatically be released from its Guarantee in accordance with Section 8.9.

 

“Excluded
Swap Obligation”: any obligation (a “Swap Obligation”) of any Excluded ECP Guarantor to pay or perform under
any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity
Exchange Act, if, and to the extent that, all or a portion of the Guarantee of such Guarantor of, or the grant by such Guarantor of a
security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or
any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof)
by virtue of such Guarantor’s failure for any reason not to constitute an “eligible contract participant” as defined
in the Commodity Exchange Act.

 

“Excluded
Taxes”: any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a
payment to a Recipient: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes,
in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the
case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof)
or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or
for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date
on which (i) such Lender acquires such interest in the applicable Commitment or, to the extent a Lender acquires an interest in a Loan
not funded pursuant to a prior Commitment, acquires such interest in such Loan (other than pursuant to an assignment request by the Borrower
under Section 2.23) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section
2.19, amounts with respect to such Taxes were payable either to such Lender's assignor immediately before such Lender became a party
hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure to
comply with paragraph (e) or (f) of Section 2.19, and (d) any withholding Taxes imposed under FATCA.

 

“Existing
Debt Release/Repayment”: collectively, the repayment in full of obligations, termination of commitments and release of any
security interests and guarantees with respect to that certain Fourth Amended and Restated Credit Agreement dated as of December 19,
2019, among, inter alia, the Borrower, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.

 

“Existing
Revolving Commitments”: as to any Lender, the obligation of such Lender, if any, to make Revolving Loans and participate in Designated
Acquisition Swingline Loans and Letters of Credit
as set forth in this Agreement immediately prior to the Amendment No. 5 Effective Date.

 

“Existing
Revolving Loan” shall have the meaning provided in Amendment No. 5.

 

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“Existing
Revolving Lender” shall have the meaning provided in Amendment No. 5.

 

“Existing
Initial Term Loan” shall have the meaning provided in Amendment No. 2.

 

“Existing
Initial Term Loan Lender” shall have the meaning provided in Amendment No. 2.

 

“Existing
Swap Agreement”: each Swap Agreement listed on Schedule 1.1G.

 

“Extended
Revolving Commitments”: one or more Classes of extended Revolving Commitments that result from a Permitted Amendment.

 

“Extended
Revolving Loans”: the Revolving Loans made pursuant to any Extended Revolving Commitment or otherwise extended pursuant to
a Permitted Amendment.

 

“Extended
Term Loans”: one or more classes of extended Term Loans that result from a Permitted Amendment.

 

“Facility”:
(a) any Term Facility and (b) any Revolving Facility, as the context may require.

 

“Fair
Market Value”: with respect to any Investment, asset, property or transaction, the price which could be negotiated in an arm’s
length, free market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure
or compulsion to complete the transaction (as determined in good faith by the Borrower).

 

“FATCA”: Sections
1471 through 1474 of the Code as in existence on the Closing Date (and any amended or successor versions of such provisions to the extent
such versions are substantively comparable and not materially more onerous to comply with), any current or future U.S. Treasury regulations
thereunder and official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal,
tax or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention entered into
in connection with the implementation of such Sections of the Code and/or U.S. Treasury regulations thereunder.

 

“Federal
Funds Effective Rate”: for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by
depositary institutions, as determined in such manner as shall be set forth on the NYFRB’s Website from time to time, and published
on the next succeeding Business Day by the NYFRB as the effective federal funds rate; provided that if the Federal Funds Effective
Rate as so determined would be less than 0.50%, such rate shall be deemed to be 0.50% for the purposes of this Agreement.

 

“Fee
Payment Date”: (a) the last Business Day of each March, June, September and December (commencing on December 31, 2020),
(b) the Revolving Termination Date and (c) the date the Total Revolving Commitments are reduced to zero.

 

“Financial
Covenant Event of Default”: as defined in Section 9.2(b).

 

“Financial
Definitions”: the definitions of Consolidated Interest Expense, Consolidated Net Income, Total First Lien Net Leverage Ratio,
Total Net Leverage Ratio, Total Secured Net Leverage Ratio, Consolidated Total Indebtedness, Consolidated EBITDA, Fixed Charge Coverage
Ratio, Debt Service Coverage Ratio and Net Income, and any defined term or section reference included in such definitions.

 

    45 

     

    

“First
Lien Obligations”: any Indebtedness that is secured on a pari passu basis with the Liens that secure the Term B-1 Loans,
the Revolving Loans (if any) and the Revolving Commitments (or any refinancing of the Term B-1 Loans, Revolving Loans (if any) or Revolving
Commitments with loans or commitments having the same Lien priority as the Term B-1 Loans, Revolving Loans (if any) or Revolving Commitments,
as applicable, prior to such refinancing). For the avoidance of doubt, “First Lien Obligations” shall include the Initial
Term Loans, the Term B-1 Loans, the Revolving Loans (if any) or Revolving Commitments (or the loans or commitments that Refinance the
Initial Term Loans, the Term B-1 Loans Revolving Loans (if any) or Revolving Commitments).

 

“First Priority Refinancing
Revolving Facility”: as defined in the definition of “Permitted First Priority Refinancing Debt.”

 

“First
Priority Refinancing Term Facility”: as defined in the definition of “Permitted First Priority Refinancing Debt.”

 

“Fixed
Amounts”: as defined in Section 1.5.

 

“Fixed
Charge Coverage Ratio”: for any period, the ratio of Consolidated EBITDA for such period to the Fixed Charges for such period.
In the event that the Borrower or any of the Restricted Subsidiaries Incurs, assumes, guarantees, redeems (or gives irrevocable notice
of redemption for), retires or extinguishes any Indebtedness (other than in the case of revolving advances under any Qualified Receivables
Financing in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during the applicable
period) or issues or redeems (or gives irrevocable notice of redemption for) Disqualified Stock or Preferred Stock subsequent to the
commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to or simultaneously with the event
for which the calculation of the Fixed Charge Coverage Ratio is made (the “Fixed Charge Coverage Ratio Calculation Date”),
then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence, assumption, guarantee, redemption
(including as contemplated by any such irrevocable notice of redemption), retirement or extinguishment of Indebtedness, or such issuance
or redemption (including as contemplated by any such irrevocable notice of redemption) of Disqualified Stock or Preferred Stock, as if
the same had occurred at the beginning of the applicable four-quarter period.

 

For
purposes of making the computation referred to above, Investments (including any designation of a Subsidiary as a Restricted Subsidiary
or an Unrestricted Subsidiary), acquisitions, dispositions, mergers (including the Transactions), consolidations and disposed or discontinued
operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and Operational Changes
that the Borrower or any of the Restricted Subsidiaries has both determined to make and made after the Closing Date and during the four-quarter
reference period or subsequent to such reference period and on or prior to or substantially simultaneously with the Calculation Date
(each, for purposes of this definition, a “pro forma event”) shall be calculated on a Pro Forma Basis assuming that
all such Investments, acquisitions, dispositions, mergers (including the Transactions), consolidations, Operational Changes and discontinued
operations (and the change of any associated fixed charge obligations and the change in Consolidated EBITDA resulting therefrom) had
occurred on the first day of the four-quarter reference period. If, since the beginning of such period, any Person that subsequently
became a Restricted Subsidiary or was merged with or into the Borrower or any Restricted Subsidiary since the beginning of such period
shall have made or effected any Investment, acquisition, disposition, merger, consolidation or discontinued operation, in each case with
respect to an operating unit of a business, or Operational Changes that would have required adjustment pursuant to this definition, then
the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for

 

    46 

     

    

such
period as if such Investment, acquisition, disposition, merger, consolidation, discontinued operation or Operational Changes had occurred
at the beginning of the applicable four-quarter period.

 

For
purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made
in good faith by a responsible financial or accounting officer of the Borrower to the extent identifiable and supportable. Any such pro
forma calculation may include, without duplication,  adjustments appropriate to reflect cost savings, operating expense reductions,
restructuring charges and expenses and synergies reasonably expected to result from the applicable event to the extent set forth in the
definition of “Consolidated EBITDA”.

 

If
any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated
as if the rate in effect on the Fixed Charge Coverage Ratio Calculation Date had been the applicable rate for the entire period (taking
into account any Hedging Obligations applicable to such Indebtedness). Interest on a Capitalized Lease Obligation shall be deemed to
accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Borrower to be the rate of interest
implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest
on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance
of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based
upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon
the rate actually chosen, or, if none, then based upon such optional rate chosen as the Borrower may designate. In connection with any
Limited Condition Transaction, the Borrower may determine baskets and ratios in accordance with Section 1.4.

 

“Fixed
Charges”: with respect to the Borrower and the Restricted Subsidiaries for any period, the sum of:

 

(1)  
Consolidated Interest Expense paid in cash during such period; and

 

(2)  
all cash dividend payments (excluding items eliminated in consolidation) on any series of Preferred Stock or Disqualified Stock
of the Borrower and the Restricted Subsidiaries;

 

provided,
however, that, notwithstanding the foregoing, any charges arising from (i) the application of Accounting Standards Codification
Topic 480-10-25-4 “Distinguishing Liabilities from Equity—Overall—Recognition” to any series of Preferred Stock
other than Disqualified Stock or (ii) the application of Accounting Standards Codification Topic 470-20 “Debt—Debt with
Conversion Options—Recognition,” in each case, shall be disregarded in the calculation of Fixed Charges.

 

“Flood
Insurance Laws”: collectively, (i) the National Flood Insurance Reform Act of 1994 (which comprehensively revised the National
Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973) as now or hereafter in effect or any successor statute thereto,
(ii) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (iii) the Biggert-Waters
Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute thereto.

 

“Floor”:
the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment
or renewal of this Agreement or otherwise) with respect to Adjusted LIBO Rate.

 

    47 

     

    

“Foreign
Benefit Plan Event”: with respect to any Foreign Plan, (a) the existence of unfunded liabilities in excess of the amount
permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority,
(b) the failure to make the required contributions or payments, under any applicable law or the terms of the Foreign Plan, on or
before the due date for such contributions or payments, (c) the receipt of a notice by a Governmental Authority relating to the
intention to terminate any such Foreign Plan or to appoint a trustee or similar official to administer any such Foreign Plan, (d) the
incurrence of any liability by a Loan Party or any of Subsidiary of a Loan Party on account of the complete or partial termination of
such Foreign Plan or the complete or partial withdrawal of any participating employer therein, (e) the occurrence of any transaction
that could result in a Loan Party or any Subsidiary of a Loan Party incurring, or the imposition on a Loan Party or any Subsidiary of
a Loan Party of, any fine, excise tax or penalty resulting from any noncompliance with applicable law or (f) any other event or
condition with respect to a Foreign Plan that is not in compliance with applicable law that could result in liability of a Loan Party
or any Subsidiary of a Loan Party.

 

“Foreign
Plan”: any pension plan, employee benefit plan, fund or other similar program established, maintained or contributed to by
a Loan Party or any Subsidiary of a Loan Party primarily for the benefit of individuals residing outside the United States (other than
plans, funds or similar programs that are sponsored, maintained or administered by a Governmental Authority), and which is not subject
to ERISA or the Code.

 

“Foreign
Subsidiary”: any Subsidiary of the Borrower that is not a U.S. Subsidiary.

 

“Funded
Debt”: as to any Person, all Indebtedness described in clauses (a)(i), (a)(ii) (excluding, for the avoidance
of doubt, surety bonds, performance bonds and similar instruments) and (a)(iv) of the definition of “Indebtedness”
of such Person that matures more than one year from the date of its creation or matures within one year from such date but is renewable
or extendible, at the option of such Person, to a date more than one year from such date or arises under a revolving credit or similar
agreement that obligates the lender or lenders to extend credit during a period of more than one year from such date, including all current
maturities and current sinking fund payments in respect of such Indebtedness whether or not required to be paid within one year from
the date of its creation and, in the case of the Borrower, Indebtedness in respect of the Loans.

 

“Funding
Default”: as defined in Section 2.17(d).

 

“Funding
Obligations” as defined in the definition of “Defaulting Lender.”

 

“GAAP”:
generally accepted accounting principles in the United States of America that are in as in effect from time to time (for all other purposes
of this Agreement); provided that any leases which would have been classified as operating leases in accordance with GAAP prior
to December 31, 2018 (whether or not such operating lease obligations were in effect on such date) shall be classified as operating leases
for the purposes of this Agreement regardless of any change in or application of GAAP following such date pursuant to ASC 842 or otherwise
that would require such leases (on a prospective or retroactive basis or otherwise) to be treated as capital leases.

 

“Global
Intercompany Note”: a note substantially in the form of Exhibit J.

 

“Governmental
Approval”: any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration,
filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority.

 

    48 

     

    

“Governmental
Authority”: any nation, or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality,
regulatory body, court, central bank, administrative tribunal or other entity exercising executive, legislative, judicial, taxing, regulatory
or administrative powers or functions of or pertaining to government (including any supra-national bodies exercising such powers or functions,
such as the European Union or the European Central Bank) and any group or body charged with setting financial accounting or regulatory
capital rules or standards (including the Financial Accounting Standards Board, the Bank for International Settlements or the Basel Committee
on Banking Supervision or any successor or similar authority to any of the foregoing).

 

“Group
Members”: the collective reference to the Borrower and its Restricted Subsidiaries.

 

“guarantee”:
as to any Person, a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business),
direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of
any Indebtedness of another Person.

 

“Guarantee”:
as defined in Section 8.2(b).

 

“Guarantee
Obligation”: as to any Person (the “guaranteeing person”), any obligation, including a reimbursement, counterindemnity
or similar obligation, of the guaranteeing person that guarantees or in effect guarantees, or which is given to induce the creation of
a separate obligation by another Person (including any bank under any letter of credit) that guarantees or in effect guarantees, any
Indebtedness (the “primary obligations”) of any other third Person (the “primary obligor”) in any
manner, whether directly or indirectly, including any obligation of the guaranteeing person, whether or not contingent, (a) to purchase
any such primary obligation or any property constituting direct or indirect security therefor, (b) to advance or supply funds (i) for
the purchase or payment of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor
or otherwise to maintain the net worth or solvency of the primary obligor, (c) to purchase property, securities or services primarily
for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary
obligation or (d) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof;
provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection
in the ordinary course of business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower
of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation
is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying
such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are
not stated or determinable, in which case the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably
anticipated liability in respect thereof as determined by the Borrower in good faith.

 

“Guarantor
Joinder Agreement”: an agreement substantially in the form of Exhibit G, or
such other form as the Administrative Agent and Borrower may agree.

 

“Guarantor
Obligations”: as defined in Section 8.1.

 

“Guarantors”:
the collective reference to (a) each Restricted Subsidiary that executes this Agreement as a “Guarantor” and each Restricted
Subsidiary that executes a Guarantor Joinder Agreement (except to the extent released in accordance with this Agreement) and (b) the
Borrower with respect to any Designated Acquisition Swingline Loan that is borrowed by a BRP DRE Subsidiary;

 

    49 

     

    

provided,
however, that the Guarantors shall not include any Excluded Subsidiary unless designated by the Borrower pursuant to the proviso
in the definition of “Excluded Subsidiary”.

 

“Hedging
Obligations”: with respect to any Person, the obligations of such Person under Swap Agreements.

 

“Honor
Date”: as defined in Section 3.5.

 

“Immaterial
Subsidiary”: each Subsidiary which, as of the most recently ended Test Period, contributed 5.0% or less of Consolidated EBITDA
for such period; provided that, if, as of the most recently ended Test Period, the aggregate amount of Consolidated EBITDA attributable
to all Subsidiaries that are Immaterial Subsidiaries exceeds 10% of Consolidated EBITDA for any such period, the Borrower shall designate
sufficient Subsidiaries to eliminate such excess, and such designated Subsidiaries shall no longer constitute Immaterial Subsidiaries
under this Agreement.

 

“Impacted
Interest Period” as defined in the definition of “Eurocurrency Rate.”

 

“Incremental
Amendment”: as defined in Section 2.25(c).

 

“Incremental
Arranger”: as defined in Section 2.25(a).

 

“Incremental
Facility”: any Class of Incremental Term Commitments or Revolving Commitment Increases and the extensions of credit made thereunder,
as the context may require.

 

“Incremental
Facility Closing Date”: as defined in Section 2.25(c).

 

“Incremental
Loan”: any Class of Incremental Term Loans or Incremental Revolving Loans, as the context may require.

 

“Incremental
No. 1 Revolving Credit Commitments” means the Revolving Commitments made on the Amendment No. 3 Effective Date pursuant to
the Amendment No. 3.

 

“Incremental
No. 2 Revolving Credit Commitments” shall have the meaning provided in
Amendment No. 5.

 

“Incremental
No. 2 Revolving Loans” means a Revolving Loan that is made pursuant to the Incremental No. 2 Revolving Credit Commitments. For
the avoidance of doubt, each Incremental No. 2 Revolving Loan is an Incremental Revolving Loan.

 

“Incremental
Revolving Lender”: as defined in Section 2.25(a).

 

“Incremental
Revolving Loans”: as defined in Section 2.25(a).

 

“Incremental
Term B-1 Loan Commitment” means, with respect to an Incremental Term B-1 Lender, the commitment of such Incremental Term B-1
Lender to make an Incremental Term B-1 Loan on the Amendment No. 2 Effective Date, in the amount set forth on the joinder agreement of
such Incremental Term B-1 Lender to Amendment No. 2. The aggregate amount of the Incremental Term B-1 Loan Commitments of all Incremental
Term B-1 Lenders equals $102,000,000. For the avoidance of doubt, each Incremental Term B-1 Loan Commitment is an Incremental Term Commitment.

 

“Incremental
Term Commitments”: as defined in Section 2.25(a).

 

    50 

     

    

“Incremental
Term B-1 Lender” means a Person with an Incremental Term B-1 Loan Commitment to make Incremental Term B-1 Loans to the Borrower
on the Amendment No. 2 Effective Date. For the avoidance of doubt, each Incremental Term B-1 Lender is an Additional Lender.

 

“Incremental
Term Lender”: as defined in Section 2.25(a).

 

“Incremental
Term Loan Maturity Date”: the date on which an Incremental Term Loan matures as set forth in the Incremental Amendment relating
to such Incremental Term Loan.

 

“Incremental
Term B-1 Loans” means a Term Loan that is made pursuant to Section 3 of Amendment No. 2. For the avoidance of doubt, each Incremental
Term B-1 Loan is an Incremental Term Loan.

 

“Incremental
Term Loans”: as defined in Section 2.25(a).

 

“Incremental
Term Percentage”: as to any Incremental Term Lender at any time, the percentage which such Lender’s Incremental Term
Commitments then constitutes of the aggregate Incremental Term Commitments then outstanding.

 

“Incremental
Yield Differential”: as defined in Section 2.25(a)(vii).

 

“Incur”:
with respect to any Indebtedness, issue, assume, guarantee, incur or otherwise become liable for; provided, however, that
any Indebtedness or Capital Stock of a Person existing at the time such person becomes a Subsidiary (whether by merger, consolidation,
acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary.

 

“Incurrence-Based
Amounts”: as defined in Section 1.5.

 

“Indebtedness”:
with respect to any Person:

 

(a)  
the principal and premium (if any) of any Indebtedness of such Person, whether or not contingent, (i) in respect of borrowed
money, (ii) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or,
without duplication, reimbursement agreements in respect thereof), (iii) representing the deferred and unpaid purchase price of
any property, asset or business, except (x) any such balance that constitutes a trade payable, accrued expense or similar obligation
to a trade creditor and (y) any acquisition earn-out obligations, (iv) in respect of Capitalized Lease Obligations or purchase
money debt or (v) representing any Hedging Obligations, other than Hedging Obligations that are incurred in the normal course of
business and not for speculative purposes, and that do not increase the Indebtedness of the obligor outstanding at any time other than
as a result of fluctuations in interest rates, commodity prices or foreign currency exchange rates or by reason of fees, indemnities
and compensation payable thereunder, if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging
Obligations) would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with
GAAP, provided that Indebtedness of any direct or indirect parent of the Borrower appearing upon the balance sheet of the Borrower
solely by reason of push-down accounting under GAAP shall be excluded;

 

(b)  
to the extent not otherwise included, any obligation of such Person to be liable for, or to pay, as obligor, guarantor or otherwise,
on the obligations described in clause (a) of another Person (other than by endorsement of negotiable instruments for collection
in the ordinary course of business); and

 

    51 

     

    

(c)  
to the extent not otherwise included, obligations described in clause (a) of another Person secured by a Lien on any
asset owned by such Person (whether or not such Indebtedness is assumed by such Person); provided, however, that the amount
of such Indebtedness will be the lesser of (i) the Fair Market Value of such asset at such date of determination, and (ii) the
amount of such Indebtedness of such other Person;

 

provided
that (a) Contingent Obligations, (b) obligations under or in respect of Receivables Financings, (c) Obligations associated
with other post-employment benefits and pension plans, workers’ compensation claims, deferred compensation or employee or director
equity plans, social security or wage taxes, (d) [reserved], (e) in connection with the purchase by the Borrower or any Restricted
Subsidiary of any business, post-closing payment adjustments to which the seller may be entitled to the extent such payment is determined
by a final closing balance sheet or such payment depends on the performance of such business after the closing until 30 days after
any such obligation becomes contractually due and payable, (f) deferred or prepaid revenues, (g) any Capital Stock (other than
Disqualified Stock), (h) purchase price holdbacks (including “live-out” payments) in respect of a portion of the purchase
price of an asset to satisfy warranty or other unperformed obligations of the respective seller, (i) premiums payable to, and advance
commissions or claims payments from, insurance companies, (j) earn-out, contingent payments or similar obligations, (k) intercompany
indebtedness made in the ordinary course of business and having a term not exceeding 364 days, (l) deferred compensation to
employees of the Borrower and its Subsidiaries incurred in the ordinary course of business, and (m) obligations, to the extent such
obligations would otherwise constitute Indebtedness, under any agreement that have been defeased or satisfied and discharged pursuant
to the terms of such agreement shall in each case not constitute Indebtedness.

 

“Indemnified
Liabilities”: as defined in Section 11.5.

 

“Indemnified
Taxes”: (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation
of the Borrower under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.

 

“Indemnitee”:
as defined in Section 11.5.

 

“Independent
Financial Advisor”: an accounting, appraisal or investment banking firm or consultant, in each case of nationally recognized
standing that is, in the good faith determination of the Borrower or its direct or indirect parent, qualified to perform the task for
which it has been engaged.

 

“Initial
Term Loan”: a Term Loan made on the Closing Date pursuant to Section 2.1.

 

“Insolvency”:
with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.

 

“Insolvent”:
pertaining to a condition of Insolvency.

 

“Intellectual
Property Security Agreements”: collectively, (a) each of the intellectual property security agreements among the Loan
Parties party thereto and the Administrative Agent, in each case substantially in a form reasonably acceptable to the Administrative
Agent and (b) each other intellectual property security agreement or intellectual property security agreement supplement executed
and delivered pursuant to Section 6.9, Section 6.11, or Section 6.15, in each case as amended, restated,
supplemented, replaced or otherwise modified from time to time in accordance with its terms.

 

    52 

     

    

“Intercreditor
Agreement”: (i) any intercreditor agreement executed in connection with any transaction requiring such agreement to be
executed pursuant to the terms hereof, among the Administrative Agent, the Borrower, the Guarantors and one or more Senior Representatives
in respect of such Indebtedness or any other party, as the case may be, substantially on terms set forth on Exhibit D (except
to the extent otherwise reasonably agreed by the Borrower, the Administrative Agent and the Required Lenders, which changes will be deemed
approved by each Lender who has not objected within five (5) Business Days following the posting thereof by the Administrative Agent
to the Lenders (or such other time as reasonably agreed by the Administrative Agent and the Borrower)) and such other terms that are
reasonably satisfactory to the Administrative Agent, in each case, as amended, restated, supplemented, replaced or otherwise modified
from time to time with the consent of the Administrative Agent (such consent not be unreasonably withheld, conditioned or delayed) and
(ii) an intercreditor agreement in form and substance reasonably satisfactory to the Administrative Agent, (which intercreditor
agreement will be deemed approved by each Lender who has not objected within five (5) Business Days following the posting thereof
by the Administrative Agent to the Lenders (or such other time as reasonably agreed by the Administrative Agent and the Borrower)), in
each case as amended, restated, supplemented, replaced or otherwise modified from time to time in accordance with its terms.

 

“Interest
Payment Date”: (a) as to any ABR Loan (including any Designated Acquisition Swingline Loan), the last Business Day of
each March, June, September and December (commencing on December 31, 2020) and the final maturity date of such Loan, (b) as to any
Eurocurrency Loan or Term Benchmark Loan having an Interest Period
of three months or less, the last day of such Interest Period, (c) as to any Eurocurrency Loan or
Term Benchmark Loan having an Interest Period longer than three months, each day that is three months, or a whole multiple
thereof, after the first day of such Interest Period and the last day of such Interest Period and (d) as to any Eurocurrency Loan
or Term Benchmark Loan (except in the case of the repayment or
prepayment of all Loans or, as to any Revolving Loan, the Revolving Termination Date or such earlier date on which the Revolving Commitments
are terminated), the date of any repayment or prepayment made in respect thereof.

 

“Interest
Period”: as to any Eurocurrency Loan or Term Benchmark Loan,
the period commencing on the borrowing, continuation or conversion date, as the case may be, with respect to such Eurocurrency Loan or
Term Benchmark Loan and ending (i) one, two, three or six (in each case,
subject to availability) months thereafter or (ii) solely with respect to
Eurocurrency Loans, two (subject to availability) and if approved by all Lenders under the relevant Facility, twelve months
thereafter, one week thereafter or such other period as all relevant Lenders shall agree, in each case as selected by the Borrower in
its irrevocable notice of borrowing, continuation or conversion, substantially in the form of Exhibit H, or such other form
as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall
be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower; provided
that all of the foregoing provisions relating to Interest Periods are subject to the following:

 

(i)  
if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the
next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in
which event such Interest Period shall end on the immediately preceding Business Day;

 

(ii)  
the Borrower may not select an Interest Period under any Revolving Facility that would extend beyond the Revolving Termination
Date and the Borrower (with respect to the Term Loans) may not select an Interest Period under the Term Facility beyond the date final
payment is due on the Term Loans;

 

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(iii)  
any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding
day in the calendar month at the end of such Interest Period) shall end on the last Business Day of a calendar month; and

 

(iv)  
if the Borrower shall fail to specify the Interest Period in any notice of borrowing of, conversion to, or continuation of, Eurocurrency
Loans or Term Benchmark Loans, the Borrower shall be deemed to
have selected an Interest Period of one month.

 

“Interpolated
Rate” means, at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places
as the LIBOR Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest
error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBOR Screen Rate for the longest period
for which the LIBOR Screen Rate is available for the applicable currency that is shorter than the Impacted Interest Period; and (b) the
LIBOR Screen Rate for the shortest period (for which that LIBOR Screen Rate is available for the applicable currency) that exceeds the
Impacted Interest Period, in each case, at such time.

 

“Investment
Grade Rating”: a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P,
or an equivalent rating by any other rating agency.

 

“Investment
Grade Securities”:

 

(1)  
securities issued or directly and fully guaranteed or insured by the government or any agency or instrumentality thereof (other
than Cash Equivalents) of the U.S., Canada, any country that is a member of the European Union,
or the United Kingdom;

 

(2)  
securities that have an Investment Grade Rating;

 

(3)  
investments in any fund that invests at least 95% of its assets in investments of the type described in clauses (1)
and (2) which fund may also hold immaterial amounts of cash pending investment and/or distribution; and

 

(4)  
corresponding instruments in countries other than the United States customarily utilized for high quality investments.

 

“Investments”:
with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees),
advances or capital contributions (excluding accounts receivable, trade credit and advances or extensions of credit to customers and
vendors, commission, travel and similar advances to officers, directors, employees and consultants made in the ordinary course of business)
and purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person.
For purposes of the definition of “Unrestricted Subsidiary” and Section 7.3:

 

(1)  
“Investments” shall include the portion (proportionate to the Borrower’s direct or indirect equity interest
in such Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Borrower at the time that such Subsidiary is designated
an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary,
the Borrower shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary equal to an amount
(if positive) equal to:

 

    54 

     

    

(a)  
the Borrower’s direct or indirect “Investment” in such Subsidiary at the time of such redesignation less

 

(b)  
the portion (proportionate to the Borrower’s equity interest in such Subsidiary) of the Fair Market Value of the net assets
of such Subsidiary at the time of such redesignation; and

 

(2)  
any property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer.

 

For
the avoidance of doubt, a guarantee by the Borrower or a Restricted Subsidiary of the obligations of another Person (the “primary
obligor”) shall not be deemed to be an Investment by the Borrower or such Restricted Subsidiary in the primary obligor to the extent
that such obligations of the primary obligor are in favor of the Borrower or any Restricted Subsidiary, and in no event shall (x) a
guarantee of an operating lease or other business contract of the Borrower or any Restricted Subsidiary, (y) intercompany indebtedness
among the Borrower and the Restricted Subsidiaries made in the ordinary course of business and having a term not exceeding 364 days
or (z) acquisitions of books of business from individuals or groups of individuals or hiring of individuals and related recruiting costs,
signing or incentive bonuses or other payments of a similar nature be deemed an Investment.

 

“IRS”:
the Internal Revenue Service.

 

“ISDA
Definitions”: the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor
thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published
from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.

 

“Issuing
Lender”: (i) each of JPMCB, Wells Fargo Bank, N.A., Bank of America, N.A., Capital One, National Association, Cadence Bank,
N.A. and Lake Forest Bank & Trust Company, N.A., or in each case any of their respective affiliates, each in its capacity as issuer
of any Letter of Credit and (ii) such other Revolving Lenders or Affiliates of Revolving Lenders that are reasonably acceptable
to the Administrative Agent and the Borrower that agrees, pursuant to an agreement with and in form and substance reasonably satisfactory
to the Administrative Agent and the Borrower, to be bound by the terms hereof applicable to such Issuing Lender. Any Issuing Lender may
cause Letters of Credit to be issued by designated Affiliates or financial institutions and such Letters of Credit shall be treated as
issued by such Issuing Lender for all purposes under the Loan Documents.

 

“Joint
Bookrunners”: collectively, (i) the Joint Bookrunners listed on the cover page hereof, (ii) from and after the Amendment No.
2 Effective Date, the Amendment No. 2 Arrangers, (iii) from and after the Amendment No. 3 Effective Date, the Amendment No. 3 Arrangers
(as defined in Amendment No. 3) and,
(iiiiv)
from and after the Amendment No. 4 Effective Date, the Amendment No. 4 Arrangers and
(v) from and after the Amendment No. 5 Effective Date, the Amendment No. 5 Arrangers.

 

“Joint
Lead Arrangers”: collectively, (i) the Joint Lead Arrangers listed on the cover page hereof, (ii) from and after the Amendment
No. 2 Effective Date, the Amendment No. 2 Arrangers, (iii) from and after the Amendment No. 3 Effective Date, the Amendment No. 3 Arrangers
(as defined in Amendment No. 3) and,
(iv) from and after the Amendment No. 4 Effective Date, the Amendment No. 4 Arrangers and
(v) from and after the Amendment No. 5 Effective Date, the Amendment No. 5 Arrangers.

 

“JPMCB”
has the meaning specified in the introductory paragraph to this Agreement.

 

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“Junior
Indebtedness”: collectively, (i) Subordinated Indebtedness and (ii) Junior Lien Obligations.

 

“Junior
Lien Obligations”: any Indebtedness that is secured on a junior basis to the First Lien Obligations.

 

“Junior
Priority Refinancing Revolving Facility”: as defined in the definition of “Permitted Junior Priority Refinancing Debt.”

 

“Junior
Priority Refinancing Term Facility”: as defined in the definition of “Permitted Junior Priority Refinancing Debt.”

 

“Latest
Maturity Date”: at any date of determination, the latest maturity or expiration date applicable to any Loan or Commitment hereunder
at such time, including the latest maturity or expiration date of any Incremental Term Loans, Other Term Loan, any Other Term Commitment,
any Other Revolving Loan or any Other Revolving Commitment.

 

“Laws”:
collectively, all international, foreign, federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes
and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not
having the force of law.

 

“L/C
Advance”: with respect to each L/C Participant, such L/C Participant’s funding of its participation in any Letter of
Credit in accordance with Section 3.4(a).

 

“L/C
Borrowing”: an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the
date when made or Refinanced as a Revolving Borrowing.

 

“L/C
Commitment”: $5,000,000.

 

“L/C
Credit Extension”: with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the
renewal or increase of the amount thereof.

 

“L/C
Obligations”: at any time, an amount equal to the sum of (a) the aggregate Dollar Equivalent of the then undrawn and unexpired
amount of the then outstanding Letters of Credit and (b) the aggregate amount of drawings under Letters of Credit that have not
then been reimbursed pursuant to Section 3.5. For purposes of computing the amount available to be drawn under any Letter
of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 3.9 and, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of
Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available
to be drawn.

 

“L/C
Participants”: the collective reference to all the Revolving Lenders other than each Issuing Lender.

 

“L/C
Sublimit”: with respect to any Issuing Lender, (i) the amount set forth opposite the name of such Issuing Lender on Schedule 1.1A-2
or (ii) such other amount specified in the agreement by which such Issuing Lender becomes an Issuing Lender hereunder.

 

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“LCT
Election” as defined in Section 1.4.

 

“LCT
Test Date” as defined in Section 1.4.

 

“Legal
Reservations”: the principle that enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement
is sought by proceedings in equity or at law).

 

“Lender-Related
Parties” as defined in Section 11.5.

 

“Lenders”:
as defined in the preamble hereto; provided that, unless the context otherwise requires, each reference herein to the Lenders
shall be deemed to include the Issuing Lenders and the Designated Acquisition Swingline Lender.

 

“Letter
of Credit Expiration Date”: the day that is five (5) Business Days prior to the scheduled Revolving Termination Date (or, if
such day is not a Business Day, the immediately preceding Business Day).

 

“Letters
of Credit”: as defined in Section 3.1(a).

 

“Liabilities”:
any losses, claims (including intraparty claims), demands, damages or liabilities of any kind.

 

“LIBOR
Screen Rate”: as defined in the definition of “Eurocurrency Rate”.

 

“Lien”:
any mortgage, deed of trust, pledge, hypothecation, collateral assignment, deposit arrangement, encumbrance, lien (statutory or other),
charge or other security interest or any preference, priority or other security agreement or similar preferential arrangement (including
any conditional sale or other title retention agreement and any capital lease having substantially the same economic effect as any of
the foregoing).

 

“Limited
Condition Transaction”: (a) any acquisition or other Investment permitted hereunder, including by way of merger, amalgamation
or consolidation, by the Borrower or one or more of the Restricted Subsidiaries, whose consummation is not conditioned upon the availability
of, or on obtaining, third party financing (or, if such a condition does exist, the Borrower or any Restricted Subsidiary, as applicable,
would be required to pay any fee, liquidated damages or other amount or be subject to any indemnity, claim or other liability as a result
of such third party financing not having been available or obtained) or (b) any redemption, satisfaction and discharge or repayment of
Indebtedness or Preferred Stock requiring irrevocable notice in advance of such redemption, satisfaction and discharge or repayment;
provided that the Consolidated Net Income (and any other financial term derived therefrom), other than for purposes of calculating
any ratios in connection with the Limited Condition Transaction, shall not include any Consolidated Net Income of, or attributable to,
the target company or assets associated with any such Limited Condition Transaction unless and until the closing of such Limited Condition
Transaction shall have actually occurred.

 

“Loan”:
any loan made or maintained by any Lender pursuant to this Agreement.

 

“Loan
Documents”: this Agreement, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment
No. 5, the Notes, the Security Documents, any Guarantor Joinder Agreement, any Intercreditor Agreement or other intercreditor
agreement to which the Administrative

 

    57 

     

    

Agent
is a party any Refinancing Amendment, any Incremental Amendment, any Loan Modification Agreement and any other document designated as
a “Loan Document” by the Administrative Agent and the Borrower from time to time.

 

“Loan
Modification Agent”: as defined in Section 2.28(a).

 

“Loan
Modification Agreement”: as defined in Section 2.28(b).

 

“Loan
Modification Offer”: as defined in Section 2.28(a).

 

“Loan
Parties”: the collective reference to the Borrower and the Guarantors.

 

“Majority
Facility Lenders”: (a) with respect to any Revolving Facility, the Majority Revolving Lenders with respect to such Revolving
Facility and (b) with respect to any Term Facility, the Majority Term Lenders with respect to such Term Facility.

 

“Majority
Revolving Lenders”: at any time with respect to any Revolving Facility, (i) prior to the termination of all Revolving
Commitments with respect to such Revolving Facility, non-Defaulting Lenders holding more than 50% of the Total Revolving Commitments
and (ii) after the termination of all the Revolving Commitments with respect to such Revolving Facility, non-Defaulting Lenders
holding more than 50% of the Total Revolving Extensions of Credit with respect to such Revolving Facility.

 

“Majority
Term Lenders”: at any time with respect to any Term Facility, Term Lenders that are non-Defaulting Lenders having Term Loans
and unused and outstanding Term Commitments with respect to such Term Facility representing more than 50% of the sum of all Term Loans
outstanding and unused and outstanding Term Commitments with respect to such Term Facility at such time.

 

“Margin
Stock”: as set forth in Regulation U of the Board of Governors of the United States Federal Reserve System, or any successor
thereto.

 

“Market
Capitalization”: an amount equal to (a) the total number of issued and outstanding shares of common Capital Stock of the Borrower
or any direct or indirect parent company thereof on the date of the declaration of a Restricted Payment permitted pursuant to Section 7.3(b)(viii)
multiplied by (b) the arithmetic mean of the closing prices per share of such common Capital Stock on the principal securities exchange
on which such shares of common Capital Stock are traded for the thirty (30) consecutive trading days immediately preceding the date of
declaration of such Restricted Payment.

 

“Material
Adverse Effect”: a material adverse effect on (a) the business, assets, liabilities, operations, financial condition or
operating results of the Borrower and the Restricted Subsidiaries taken as a whole, (b) the ability of the Loan Parties (taken as
a whole) to perform their payment obligations under the Loan Documents or (c) the rights, remedies and benefits available to, or
conferred upon, the Administrative Agent, any Lender or any Secured Party hereunder or thereunder.

 

“Material
Acquisition” means any Permitted Acquisition that includes a minimum cash payment at the close of such transaction of not less
than $20.0 million.

 

“Material
Property”: any individual fee owned real property located in the United States with a Fair Market Value equal to or greater
than $10,000,000 (such Fair Market Value to be determined (x) in the case of any real property owned on the Closing Date, as of the Closing
Date, and (y) in the case of any real property acquired after the Closing Date, as of the date of acquisition thereof).

 

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“Materials
of Environmental Concern”: any chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, any petroleum
or petroleum products, asbestos, polychlorinated biphenyls, lead or lead-based paints or materials, radon, urea-formaldehyde insulation,
toxic molds, fungi and mycotoxins, and radioactive materials that are regulated pursuant to Environmental Law or have an adverse effect
on human health or the environment.

 

“Maximum
Amount”: as defined in Section 11.20(a).

 

“MFN
Excluded Loans”: any Incremental Term Loans or Indebtedness incurred under Section 7.2(b)(xxii) and subject to clause (ii)
of the proviso thereto up to an aggregate amount equal to the greater of $37,500,000 and 50.0% of Consolidated EBITDA determined on a
Pro Forma Basis as of the most recently ended Test Period.

 

“Minimum
Extension Condition”: as defined in Section 2.28(c).

 

“Moody’s”:
Moody’s Investors Service, Inc., or any successor to the rating agency business thereof.

 

“Mortgage”:
any deed of trust, mortgage or deed to secure debt in respect of Material Property in the U.S. made by a Loan Party in favor or for the
benefit of the Administrative Agent on behalf of the Secured Parties in form and substance reasonably satisfactory to the Administrative
Agent, in each case as the same may be amended, amended and restated, extended, supplemented, substituted or otherwise modified from
time to time.

 

“Mortgaged
Properties”: the real properties as to which, pursuant to Section 6.9(b) or otherwise, the Administrative Agent,
for the benefit of the Secured Parties, shall be granted a Lien pursuant to the Mortgages.

 

“Multiemployer
Plan”: a Plan that is a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

 

“Net
Cash Proceeds”: (a) in connection with any Asset Sale, any Recovery Event or any other sale of assets the proceeds thereof
actually received in the form of Cash Equivalents (including any such proceeds received by way of deferred payment of principal pursuant
to a note or installment receivable or purchase price adjustment receivable or otherwise, but only as and when received), net of (i) attorneys’
fees, accountants’ fees, investment banking fees, and other bona fide fees, costs and expenses actually incurred in connection
therewith, (ii) amounts required to be applied to the repayment of Indebtedness secured by a Lien not prohibited hereunder on any
asset that is the subject of such Asset Sale, Recovery Event or other sale of assets (other than any Lien pursuant to a Security Document),
(iii) Taxes paid and the Borrower’s reasonable and good faith estimate of income, franchise, sales, and other applicable Taxes
required to be paid by any Group Member or any Equity Holder in connection with such Asset Sale, Recovery Event or other sale of assets,
(iv) a reasonable reserve for any indemnification payments (fixed or contingent) attributable to the seller’s indemnities
and representations and warranties to the purchaser in respect of such Asset Sale, Recovery Event or other sale of assets owing by any
Group Member in connection therewith and which are reasonably expected to be required to be paid; provided that to the extent
such indemnification payments are not made and are no longer reserved for, such reserve amount shall constitute Net Cash Proceeds, (v) cash
escrows to any Group Member from the sale price for such Asset Sale, Recovery Event or other sale of assets; provided that any
cash released from such escrow shall constitute Net Cash Proceeds upon such release, (vi) in the case of a Recovery Event, costs
of preparing assets for transfer upon a taking or condemnation, (vii) in the case of any Asset Sale or any Recovery Event by a non-Wholly
Owned Restricted Subsidiary, the pro rata portion (calculated

 

    59 

     

    

without
regard to this clause (vii)) attributable to minority interests and not available for distribution to or for the account of the
Borrower or a Wholly Owned Restricted Subsidiary and (viii) other customary fees and expenses actually incurred in connection therewith
and net of Taxes paid or reasonably estimated to be payable as a result thereof, and (b) in connection with any issuance or sale
of Capital Stock or any incurrence or issuance of Indebtedness, the proceeds thereof received in the form of Cash Equivalents from any
such issuance, sale or incurrence, net of attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts
and commissions and other bona fide fees and expenses actually incurred in connection therewith.

 

“Net
Income”: with respect to any Person, the net income (loss) attributable to such Person, determined in accordance with GAAP
and before any reduction in respect of Preferred Stock dividends.

 

“New
Producer Program”: the salary and benefits in the first twelve months of employment for specific sales personnel hired by Borrower
of which the performance of such personnel is being tracked separately for financial reporting purposes.

 

“Non-Consenting
Existing Initial Term Loan Lender” shall mean each Existing Initial Term Loan Lender that did not execute and deliver a Consent
to Amendment No. 2 on or prior to the Amendment No.1 Effective Date.

 

“Non-Debt
Fund Affiliate”: any Affiliate of the Borrower other than (i) any Subsidiary of the Borrower and (ii) any natural person.

 

“Non-Guarantor
Subsidiary”: any Subsidiary that is not a Guarantor.

 

“Non-U.S.
Lender”: as defined in Section 2.19(e)(ii)(2).

 

“Note”:
a Term Loan Note, a Revolving Loan Note or a Designated Acquisition Swingline Loan Note.

 

“Notice
of Intent to Cure”: written notice (including via e-mail) from the Borrower to the Administrative Agent, with respect to each
Test Period for which a Cure Right will be exercised, within ten (10) Business Days after the date the financial statements required
under Section 6.1(a) or (b) have been or were required to have been delivered with respect to the most recently ended
Test Period.

 

“NYFRB”
means the Federal Reserve Bank of New York.

 

“NYFRB’s
Website”: the website of the NYFRB at http://www.newyorkfed.org, or any successor source.

 

“NYFRB
Rate”: for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding
Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that
if none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the rate for a federal
funds transaction quoted at 11:00 a.m. on such day received by the Administrative Agent from a federal funds broker of recognized standing
selected by it; provided, further, that if any of the aforesaid rates as so determined be less than 0.50%, such rate shall be
deemed to be 0.50% for purposes of this Agreement.

 

“Obligations”:
the unpaid principal of and interest on (including interest accruing after the maturity of the Loans or the maturity of Cash Management
Obligations and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization
or like

 

    60 

     

    

proceeding,
relating to the Borrower or any Guarantor, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding)
the Loans, to the extent expressly assumed by the Borrower as an Incremental Loan or Designated Acquisition Swingline Loan, BRP Group
C Corp Acquisition Indebtedness, all Reimbursement Obligations and all other obligations and liabilities of the Borrower or any other
Loan Party (including with respect to guarantees) to the Administrative Agent, any Lender or any other Secured Party, whether direct
or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in
connection with, this Agreement, or any other Loan Document or any other document made, delivered or given in connection herewith or
therewith or any Qualified Hedging Agreement (other than, in the case of any Excluded ECP Guarantor, any Excluded Swap Obligations arising
thereunder) or any Specified Cash Management Agreement, whether on account of principal, interest, reimbursement obligations, fees, indemnities,
costs, expenses (including all fees, charges and disbursements of counsel to the Administrative Agent or to any Lender that are required
to be paid by the Borrower or any Guarantor pursuant to any Loan Document), Guarantee Obligations or otherwise (including all fees, expenses,
liabilities and other obligations accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization
or like proceeding, whether or not a claim is allowed or allowable in such proceeding) .

 

“OFAC”:
the U.S. Department of the Treasury’s Office of Foreign Assets Control.

 

“Offer
Price”: as defined in the definition of “Dutch Auction.”

 

“Officer’s
Certificate”: a certificate signed on behalf of the Borrower or any other Group Member by any Responsible Officer thereof.

 

“OID”:
with respect to any Term Loan or Revolving Facility (or repricing thereof), or any Incremental Term Loan, Additional/Replacement Revolving
Commitment or Revolving Commitment Increase, as the case may be, the amount of any original issue discount or upfront fees (which shall
be deemed to constitute a like amount of original issue discount) paid by a Borrower, but excluding (i) any arrangement, structuring,
syndication, commitment, ticking, unused line or other fees payable in connection therewith that are not shared with all Lenders in the
primary syndication thereof (and excluding any bona fide arranger, structuring, syndication, commitment, ticking, unused line or similar
fees paid to a Lender or an Affiliate of a Lender in its capacity as a commitment party or arranger and regardless of whether such Indebtedness
is syndicated to third parties) and (ii) customary consent fees for any amendment paid generally to consenting lenders, in each case,
which excluded fees shall not be included and equated to the interest rate.

 

“Operational
Changes” means any cost savings initiative, business optimization expense, operating expense reduction, restructuring charge
or similar charges, in each case, consistent with the type specified in the definition of “Consolidated EBITDA”.

 

“Organizational
Document”: (i) relative to each Person that is a corporation, its charter and its by-laws (or similar documents), (ii) relative
to each Person that is a limited liability company, its certificate of formation and its operating agreement (or similar documents),
(iii) relative to each Person that is a limited partnership, its certificate of formation or registration and its limited partnership
agreement (or similar documents), (iv) relative to each Person that is a general partnership, its partnership agreement (or similar
document), (v) relative to each Person that is an exempted limited partnership, its exempted limited partnership agreement, (vi) relative
to each Person that is an exempted company, its memorandum and articles of association and (vii) relative to any Person that is
any other type of entity, such documents as shall be comparable to the foregoing.

 

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“Other
Applicable Indebtedness”: as defined in Section 2.11(b).

 

“Other
Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between
such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered,
become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged
in any other transaction pursuant to or enforced any Loan Document).

 

“Other
Obligations”: any principal, interest, penalties, fees, indemnifications, reimbursements (including reimbursement obligations
with respect to letters of credit and bankers’ acceptances), damages and other liabilities payable under the documentation governing
any Indebtedness; provided that Other Obligations with respect to the Loans shall not include fees or indemnification in favor
of third parties other than the Secured Parties.

 

“Other
Revolving Commitments”: one or more Classes of revolving credit commitments hereunder or Extended Revolving Commitments hereunder
that result from a Refinancing Amendment.

 

“Other
Revolving Loans”: the Revolving Loans made pursuant to any Other Revolving Commitment.

 

“Other
Taxes”: any and all present or future stamp or documentary or similar Taxes arising from any payment made hereunder or from
the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document, except any such Taxes
that are Other Connection Taxes imposed with respect to an assignment (other than an assignment pursuant to Section 2.23 (other
than Section 2.23(c)).

 

“Other
Term Commitments”: one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment.

 

“Other
Term Loans”: one or more Classes of Term Loans that result from a Refinancing Amendment.

 

“Outstanding
Amount”: (a) with respect to the Term Loans, Revolving Loans and Designated Acquisition Swingline Loans on any date, the
aggregate Dollar Equivalent of the outstanding principal amount thereof on such date after giving effect to any borrowings and prepayments
or repayments of Term Loans, Revolving Loans (including any refinancing of outstanding unpaid drawings under Letters of Credit or L/C
Credit Extensions as a Revolving Borrowing) and Designated Acquisition Swingline Loans, as the case may be, occurring on such date and
(b) with respect to any L/C Obligations on any date, the aggregate Dollar Equivalent of the outstanding amount thereof on such date
after giving effect to any L/C Credit Extension occurring on such date and any other changes thereto as of such date, including as a
result of any reimbursements of outstanding unpaid drawings under any Letters of Credit (including any refinancing of outstanding unpaid
drawings under Letters of Credit or L/C Credit Extensions as a Revolving Borrowing) or any reductions in the maximum amount available
for drawing under Letters of Credit taking effect on such date.

 

“Overnight
Bank Funding Rate”: for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by
U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the
NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding
rate.

 

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“Parent
Holding Company”: any direct or indirect parent entity of the Borrower which holds directly or indirectly 100% of the Equity
Interest of the Borrower and which does not hold Equity Interests in any other Person (except for any other Parent Holding Company).

 

“Participant”:
as defined in Section 11.6(c)(i).

 

“Participant
Register”: as defined in Section 11.6(c)(i).

 

“Patriot
Act”: USA PATRIOT Improvement and Reauthorization Act, Pub. L. 109-177 (signed into law March 9, 2009), as amended.

 

“Payment”
has the meaning assigned to it in Section 10.16(a).

 

“Payment
Notice” has the meaning assigned to it in Section 10.16(a).

 

“PBGC”:
the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA (or any successor).

 

“Permitted
Acquisition”: as defined in clause (23) of the definition of “Permitted Investments.”

 

“Permitted
Amendment”: an amendment to this Agreement and the other Loan Documents, effected in connection with a Loan Modification Offer
pursuant to Section 2.28, providing for an extension of the maturity date applicable to the Loans and/or Commitments of the
Accepting Lenders and, in connection therewith, (a) a change to the Applicable Margin with respect to the Loans and/or Commitments
of the Accepting Lenders, (b) a change to the fees payable to, or the inclusion of new fees to be payable to, the Accepting Lenders
and/or (c) any other changes permitted by the terms of Section 2.28.

 

“Permitted
Asset Swap”: the substantially concurrent purchase and sale or exchange of Related Business Assets or a combination of Related
Business Assets and Cash Equivalents between the Borrower or any of the Restricted Subsidiaries and another Person.

 

“Permitted
Auction Purchaser”: the Borrower or any of its Restricted Subsidiaries.

 

“Permitted
Credit Agreement Refinancing Debt”: (a) Permitted First Priority Refinancing Debt, (b) Permitted Junior Priority
Refinancing Debt, (c) Permitted Unsecured Refinancing Debt or (d) Indebtedness Incurred or Other Revolving Commitments obtained
pursuant to a Refinancing Amendment, in each case, issued, Incurred or otherwise obtained (including by means of the extension or renewal
of existing Indebtedness) in exchange for, or to extend, renew, replace or Refinance, in whole or part, existing Term Loans, outstanding
Revolving Loans or (in the case of Other Revolving Commitments obtained pursuant to a Refinancing Amendment) Revolving Commitments hereunder
(including any successive Permitted Credit Agreement Refinancing Debt) (any such extended, renewed, replaced or Refinanced Term Loans,
Revolving Loans or Revolving Commitments, “Refinanced Credit Agreement Debt”); provided that (i) such
extending, renewing or refinancing Indebtedness (including, if such Indebtedness includes or relates to any Other Revolving Commitments,
the unused portion of such Other Revolving Commitments) is in an original aggregate principal amount (or accreted value, if applicable)
not greater than the aggregate principal amount (or accreted value, if applicable) of the Refinanced Credit Agreement Debt (and, in the
case of Refinanced Credit Agreement Debt consisting, in whole or in part, of unused Revolving Commitments or Other Revolving Commitments,
the amount thereof) plus an amount equal to unpaid and accrued interest and premium thereon plus other reasonable and customary
fees and expenses (including upfront fees, original issue discount and underwriting

 

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discounts),
(ii) in the case of Other Revolving Commitments and Other Revolving Loans, there shall be no required repayment thereof (other than
in connection with a voluntary reduction of commitments or availability thereunder) prior to the maturity thereof, and (iii) such
Refinanced Credit Agreement Debt shall be repaid, defeased or satisfied and discharged, and all accrued interest, fees and premiums (if
any) in connection therewith shall be paid, on the date such Permitted Credit Agreement Refinancing Debt is issued, Incurred or obtained;
provided that to the extent that such Refinanced Credit Agreement Debt consists, in whole or in part, of Revolving Commitments
or Other Revolving Commitments (or Revolving Loans or Other Revolving Loans Incurred pursuant to any Revolving Commitments or Other Revolving
Commitments), such Revolving Commitments or Other Revolving Commitments, as applicable, shall be terminated, and all accrued fees in
connection therewith shall be paid, on the date such Permitted Credit Agreement Refinancing Debt is issued, Incurred or obtained.

 

“Permitted
Cure Securities”: any Qualified Equity Interest in the Borrower.

 

“Permitted
Debt”: as defined in Section 7.2(b).

 

“Permitted
Earlier Maturity Indebtedness Exception”: with respect to the incurrence of any Incremental Term Loans, Permitted Credit Agreement
Refinancing Debt, Refinancing Indebtedness, Ratio Debt and any Indebtedness incurred under ‎Section 7.2(b)(vi) permitted to be incurred
hereunder, up to the Incremental Term Loans of up to the greater of $37,500,000 and 50.0% of Consolidated EBITDA determined on a Pro
Forma Basis as of the most recently ended Test Period, in each case determined at the time of incurrence of such Indebtedness (the “Specified
Debt”) which may have a maturity date that is earlier than and a Weighted Average Life to Maturity that is shorter than, the
Indebtedness with respect to which the Specified Debt is otherwise required to have a later maturity date.

 

“Permitted
First Priority Refinancing Debt”: any secured Indebtedness Incurred by the Borrower in the form of one or more series of senior
secured notes or senior secured term loans (each, a “First Priority Refinancing Term Facility”) or one or more senior
secured revolving credit facilities (each, a “First Priority Refinancing Revolving Facility”); provided that
(i) such Indebtedness consists of First Lien Obligations, (ii) such Indebtedness constitutes Permitted Credit Agreement Refinancing
Debt in respect of Term Loans (including portions of Classes of Term Loans, Other Term Loans or Incremental Term Loans) or outstanding
Revolving Loans or Revolving Commitments and (iii) such Indebtedness complies with the Permitted Refinancing Requirements; provided
that an Officer’s Certificate signed on behalf of the Borrower delivered to the Administrative Agent at least five (5) Business
Days (or such shorter period reasonably acceptable to the Administrative Agent) prior to the Incurrence of such Indebtedness, together
with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating
thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the requirement of this definition
shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Administrative Agent notifies the Borrower
within such five Business Day period that it disagrees with such determination (including a reasonable description of the basis upon
which it disagrees)). Permitted First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

 

“Permitted
Holders”: shall mean, collectively, (i) L. Lowry Baldwin; (ii) the spouse or children (natural or adopted) of L. Lowry Baldwin;
(iii) any descendant of any person described in (i) or (ii) above and the spouse of any such descendant; (iv) any estate, trust, legal
guardianship, custodianship or other estate planning vehicle for the primary benefit of any one or more individuals named or described
in (i), (ii) and (iii) above; (v) any trust controlled by any one or more individuals named or described in (i), (ii) and (iii) above;
(vi) any person controlled, directly or indirectly, by any one or more persons named or described in (i) through (v) above; (vii) employee
shareholders of BRP Group on the Closing Date; and (viii) any Person with which one or more of the persons named or described in (i)
through (vi)

 

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above
form a “group” (within the meaning of Section 14(d) of the Exchange Act) so long as, in the case of this clause (vii), one
or more of the persons named or described in (i) through (vi) above beneficially own more than 50% of the relevant Voting Stock beneficially
owned by the group.

 

“Permitted
Investments”:

 

(1)  
any Investment in the Borrower or any Restricted Subsidiary;

 

(2)  
any Investment in Cash Equivalents or Investment Grade Securities;

 

(3)  
any Investment in an aggregate amount not to exceed, at the time such Investments are made and after giving effect thereto, the
Available Amount at such time, so long no Event of Default has occurred and is continuing or would result therefrom;

 

(4)  
any Investment in securities or other assets, including earnouts, not constituting Cash Equivalents or Investment Grade Securities
and received in connection with an Asset Sale made pursuant to Section 7.5 or any other disposition of assets not constituting
an Asset Sale;

 

(5)  
any Investment (x) existing on the Closing Date and, with respect to any such Investment in excess of $5,000,000 in aggregate
amount, set forth on Schedule 1.1C, (y) made pursuant to binding commitments in effect on the Closing Date and, with respect
to any such Investment in excess of $5,000,000 in aggregate amount, set forth on Schedule 1.1C and (z) that replaces, Refinances,
refunds, renews or extends any Investment described under either of the immediately preceding clause (x) or (y), provided
that any such Investment is in an amount that does not exceed the amount replaced, Refinanced, refunded, renewed or extended except
to the extent required by the terms of such Investment on the Closing Date;

 

(6)  
loans and advances to, and guarantees of Indebtedness of, employees of the Borrower (or any of its direct or indirect parent companies)
or a Restricted Subsidiary not in excess, at the time such Investment is made, taken together with all other Investments made pursuant
to this clause (6) that are at the time outstanding, of the greater of $3,750,000 and 5.0% of Consolidated EBITDA, determined
on a Pro Forma Basis as of the most recently ended Test Period;

 

(7)  
any Investment acquired by the Borrower or any of the Restricted Subsidiaries (a) in exchange for any other Investment or
receivable or other claim held by the Borrower or any Restricted Subsidiary in connection with or as a result of a bankruptcy, workout,
reorganization or recapitalization of the Borrower or such other Investment or receivable, (b) in satisfaction of judgments against other
Persons, (c) in good faith settlement of delinquent obligations of, and other disputes with Persons who are not Affiliates or (d) as
a result of a foreclosure by the Borrower or any of the Restricted Subsidiaries with respect to any secured Investment or other transfer
of title with respect to any secured Investment in default;

 

(8)  
Hedging Obligations permitted under Section 7.2(b)(xii);

 

(9)  
Investments by the Borrower or any of the Restricted Subsidiaries having an aggregate Fair Market Value, at the time such Investment
is made, taken together with all other Investments made pursuant to this clause (9) that are at the time outstanding, not
to exceed the greater of $30,000,000 and 40.0% of Consolidated EBITDA, determined on a Pro Forma Basis as of the most recently ended
Test Period at any one time outstanding; provided, however, that if any Investment pursuant to this clause (9)
is made in any Person that is not a Restricted Subsidiary at the date of the making of such Investment and such Person becomes a
Restricted Subsidiary after such date, such Investment shall thereafter be deemed

 

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to
have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (9) for
so long as such Person continues to be a Restricted Subsidiary;

 

(10)  
loans and advances to (or guarantees of Indebtedness of) future, present or former officers, directors, employees and consultants
for business related travel expenses (including entertainment expense), moving and relocation expenses, Tax advances, payroll advances
and other similar expenses, or to fund such Person’s purchase or other acquisition for value of Equity Interests of the Borrower
or any direct or indirect parent company thereof under compensation plans approved by the Board of Directors of the Borrower (or any
direct or indirect parent company thereof) in good faith;

 

(11)  
Investments the payment for which is Equity Interests, or the Net Cash Proceeds received by the Borrower from the sale of Equity
Interests of, in each case, the Borrower (other than Disqualified Stock) or any direct or indirect parent of the Borrower, as applicable;
provided, however, that such Equity Interests will not increase the amount available for Restricted Payments or Restricted
Debt Payments or increase the Available Amount;

 

(12)  
any transaction to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions of
Section 7.6 (except transactions described in clauses (b)(ii), (b)(v), (b)(vii), (b)(x)(B), (b)(xxiii)
and (b)(xxiv)) therein);

 

(13)  
Investments consisting of (y) the licensing or contribution of intellectual property pursuant to joint marketing arrangements
with other Persons or (z) any license or sublicense of intellectual property granted in the ordinary course of business or which do not
materially interfere with the ordinary conduct of the business of the Borrower or any Restricted Subsidiary;

 

(14)  
guarantees issued in accordance with Section 7.2 and Section 6.9;

 

(15)  
Investments consisting of purchases and acquisitions of inventory, supplies, materials and equipment (including prepayments to
suppliers) or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business;

 

(16)  
any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in connection with
a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing
such Qualified Receivables Financing or any related Indebtedness; provided, however, that any Investment in a Receivables
Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest;

 

(17)  
[reserved];

 

(18)  
[reserved];

 

(19)  
Investments of a Restricted Subsidiary acquired after the Closing Date or of an entity merged into or consolidated with a Restricted
Subsidiary in a transaction that is not prohibited by Section 7.8 after the Closing Date to the extent that such Investments
were not made in contemplation of such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger
or consolidation;

 

(20)  
Investments made in connection with obtaining, maintaining or renewing client contacts and advances, loans, rebates and extensions
of credit (including the creation of receivables) to suppliers,

 

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distributors,
customers and vendors, and performance guarantees, in each case in the ordinary course of business;

 

(21)  
other Investments; provided that after giving effect to such Investment (i) no Event of Default has occurred or is continuing
and (ii) the Total Net Leverage Ratio, determined on a Pro Forma Basis as of the most recently ended Test Period, does not exceed 4.00
to 1.00;

 

(22)  
[reserved];

 

(23)  
acquisitions by the Borrower or any Restricted Subsidiary of the majority of the Capital Stock of Persons or of assets constituting
a division, business unit or product line of, or all or substantially all of the assets of a Person (each a “Permitted Acquisition”);
provided that, (i) no Event of Default has occurred or is continuing giving effect to such Permitted Acquisition, (ii) the
line of business of the acquired entity shall be a Similar Business of the businesses conducted by the Borrower and the Restricted Subsidiaries,
(iii) any Person acquired shall become, and any Person acquiring assets shall be, a Restricted Subsidiary (unless designated as
an Unrestricted Subsidiary) and (iv) the Borrower or such Restricted Subsidiary, as applicable, shall take, and shall cause such
Person to take, all actions required under Section 6.9 in connection therewith;

 

(24)  
Investments in the ordinary course of business consisting of UCC Article 3 endorsements for collection or deposit and UCC Article
4 customary banking arrangements in the ordinary course of business;

 

(25)  
Investments (A) for utilities, security deposits, leases and similar prepaid expenses incurred in the ordinary course of
business and (B) trade accounts created, or prepaid expenses accrued, in the ordinary course of business;

 

(26)  
loans and advances to direct and indirect parent companies of the Borrower (a) in lieu of, and not in excess of the amount of
(after giving effect to any other loans, advances or Restricted Payments in respect thereof), Restricted Payments to the extent permitted
to be made to such companies in accordance with Section 7.3 or (b) in connection with the Tax Receivables Agreement, for a term
of 60 days or less and in an amount not exceeding $10,000,000 at any time outstanding to fund purchases of limited liability company
interests in the Borrower;

 

(27)  
any Investment in any Subsidiary or any joint venture in connection with intercompany cash management arrangements or related
activities arising in the ordinary course of business;

 

(28)  
Investments consisting of earnest money deposits required in connection with a Permitted Acquisition or other permitted Investment;

 

(29)  
Investments resulting from the exercise of drag-along rights, put-rights, call-rights or similar rights under joint venture or
similar documents; and

 

(30)  
Investments in Unrestricted Subsidiaries and joint ventures, at the time of the making of such Investment, taken together with
all other Investments made pursuant to this clause (30) that are at that time outstanding, not to exceed the greater of $22,500,000
and 30.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended Test Period.

 

Subject
to the immediately following sentence, the amount of any non-cash Investments will be the Fair Market Value thereof at the time made,
and the amount of any cash Investment will be the original cost thereof. If any Investment in any Person is made in compliance with Section 7.3(e)
in

 

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reliance
on a category above that is subject to a Dollar-denominated restriction on the making of Investments and, subsequently, such Person returns
to the Borrower, any other Loan Party or, to the extent applicable, any Restricted Subsidiary all or any portion of such Investment (in
the form of a dividend, distribution, interest, payment, return of capital, repayment, liquidation or otherwise but excluding intercompany
Indebtedness), then except to the extent increasing the Available Amount, such return shall be deemed to be credited to the Dollar-denominated
category against which the Investment is then charged (but in any event not in an amount that would result in the aggregate dollar amount
able to be invested in reliance on such category to exceed such Dollar-denominated restriction). To the extent the category subject to
a Dollar-denominated restriction is also subject to an equivalent percentage of such Dollar amount which, at the date of determination,
produces a numerical restriction that is greater than such Dollar amount, then such Dollar equivalent shall be deemed to be substituted
in lieu of the corresponding Dollar amount in the foregoing sentence for purposes of determining such credit.

 

“Permitted
Liens”: with respect to any Group Member:

 

(1)  
pledges or deposits by such Person in connection with (a) worker’s compensation, employment or unemployment insurance and
other types of employers’ health tax, social security legislation, retirement and other similar legislation, employee source deductions,
goods and services Taxes, sales Taxes, municipal Taxes and pension fund obligations or other insurance-related obligations (including,
but not limited to, in respect of deductibles, self-insured retention amounts and premiums and adjustments thereto), (b) securing liability
for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees or similar
instruments for the benefit of) insurance carriers providing property, casualty or liability insurance to the Borrower or any Restricted
Subsidiary or otherwise supporting the payment of items set forth in the foregoing clause (a), or (c) good faith deposits, prepayments
or cash pledges to secure bids, tenders, contracts (other than for the payment of Indebtedness) or leases, subleases, licenses, sublicenses
or similar agreements to which such Person is a party, performance and return of money bonds and other similar obligations incurred in
the ordinary course of business, or deposits to secure public or statutory obligations of such Person or deposits of cash or government
bonds to secure surety, stay, customs or appeal bonds or statutory bonds to which such Person is a party, or deposits as security for
contested Taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business;

 

(2)  
Liens with respect to outstanding motor vehicle fines and Liens imposed by law, such as landlords’, carriers’, warehousemen’s,
materialmen’s, repairmen’s, construction contractors’ and mechanics’ and other like Liens, in each case for sums
not overdue for a period of more than 30 days or being contested in good faith by appropriate proceedings or other Liens arising
out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings
for review if adequate reserves with respect thereto are being maintained in accordance with GAAP;

 

(3)  
Liens for Taxes, assessments or other governmental charges and corporate Taxes (i) not overdue for more than 60 days.
(ii) that are being contested in good faith by appropriate proceedings if (a) adequate reserves with respect thereto are being
maintained on the books of such Person in accordance with GAAP (or, in the case of any Foreign Subsidiary, the accounting principles
applicable in the relevant jurisdiction) or (b) they are immaterial to the Borrower and its Restricted Subsidiaries taken as a whole
or (iii) on property the Borrower or any of its Restricted Subsidiaries has decided to abandon if the sole recourse for such Tax, assessment
or governmental charge is to such property;

 

(4)  
Liens securing obligations incurred pursuant to Section 7.2(b)(xiii) as well as Liens in favor of issuers of performance,
surety, bid, indemnity, warranty, release, appeal or similar bonds or with respect to other regulatory requirements, or letters of credit
or bankers’ acceptances issued, and

 

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completion
guarantees provided for, in each case pursuant to the request of and for the account of such Person in the ordinary course of its business;

 

(5)  
survey exceptions, encumbrances, leases, subleases, encroachments, protrusions, easements or reservations of, or rights of others
for, sublicenses, licenses, rights-of-way, servitudes, sewers, electric lines, drains, telegraph and telephone and cable television lines,
and other similar purposes, or zoning, building codes or other restrictions (including defects or irregularities in title and similar
encumbrances, including any title exceptions listed on any Title Policy) as to the use of real properties, or Liens incidental to the
conduct of the business of such Person or to the ownership of its properties which were not Incurred in connection with Indebtedness
and which, in each case, do not in the aggregate materially impair their use in the operation of the business of such Person taken as
a whole;

 

(6)  
Liens Incurred to secure Other Obligations in respect of Indebtedness permitted to be Incurred pursuant to Section 7.2(b)(i),
(b)(iv), (b)(vi), (b)(vii), (b)(xv), (b)(xvi), or (b)(xxix) (in each case, except to the extent required
to be unsecured pursuant to the terms thereof); provided that, (A) in the case of Section 7.2(b)(vii) and Section (b)(xxix),,
such Lien extends only to the assets and/or Capital Stock, the acquisition, lease, construction, repair, replacement or improvement of
which is financed thereby and any income or profits thereof; provided that individual financings provided by a lender may be cross
collateralized to other financings provided by such lender or its Affiliates, (B) in the case of Section 7.2(b)(vi)
such Indebtedness complies with the Applicable Requirements, and (C) in the case of Section 7.2(b)(xv), such guarantee
may only be subject to Liens to the extent the underlying Indebtedness may be subject to any Liens;

 

(7)  
(i) Liens securing the Obligations and (ii) Liens existing on the Closing Date, and, with respect to any such Lien securing an
obligation in excess of $7,500,000 set forth on Schedule 1.1D;

 

(8)  
Liens on assets, property or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary; provided,
however, that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such
a Restricted Subsidiary; provided, further, however, that such Liens may not extend to any other property owned by the
Borrower or any Restricted Subsidiary (other than the proceeds or products of such assets, property or shares of stock or improvements
thereon);

 

(9)  
Liens on assets or on property at the time the Borrower or any Restricted Subsidiary acquired such assets or property, including
any acquisition by means of a merger or consolidation with or into the Borrower or any Restricted Subsidiary; provided, however,
that such Liens are not created or Incurred in connection with, or in contemplation of, such acquisition; provided, further, however,
that the Liens may not extend to any other assets or property owned by the Borrower or any Restricted Subsidiary (other than the proceeds
or products of such assets or property or shares of stock or improvements thereon);

 

(10)  
Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Borrower or another Restricted Subsidiary
permitted to be Incurred pursuant to Section 7.2;

 

(11)  
Liens (including Liens on Cash Equivalents) securing Hedging Obligations in an amount not to exceed, at the time such Lien is
created or Incurred, taken together with all other Liens Incurred pursuant to this clause (11), the greater of $11,250,000
and 15.0% of Consolidated EBITDA, determined on a Pro Forma Basis as of the most recently ended Test Period;

 

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(12)  
Liens on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in respect
of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such
inventory or other goods;

 

(13)  
leases, licenses, subleases and sublicenses of, and the granting of an easement interest in and to, assets (including real property
and intellectual property rights) in the ordinary course of business;

 

(14)  
Liens arising from UCC financing statement filings (or similar filings in any other jurisdiction) regarding operating leases or
consignments or sales of receivables entered into by the Borrower and its Restricted Subsidiaries in the ordinary course of business
and other Liens arising solely from precautionary UCC financing statements or similar filings;

 

(15)  
Liens in favor of the Borrower or any Guarantor;

 

(16)  
Liens on accounts receivable and related assets of the type specified in the definition of “Receivables Financing”
Incurred in connection with a Qualified Receivables Financing;

 

(17)  
pledges and deposits made in the ordinary course of business to secure liability to insurance carriers, insurance companies and
brokers;

 

(18)  
Liens on the Equity Interests of Unrestricted Subsidiaries and joint ventures that are not Restricted Subsidiaries;

 

(19)  
grants of software and other technology licenses in the ordinary course of business;

 

(20)  
judgment and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights related
to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made;

 

(21)  
Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into
in the ordinary course of business;

 

(22)  
Liens on Escrowed Proceeds during the period which any such Escrowed Proceeds are held under escrow or similar contingent release
arrangements;

 

(23)  
Liens on equipment of the Borrower or any Restricted Subsidiary granted in the ordinary course of business to the Borrower’s
or such Restricted Subsidiary’s client at which such equipment is located;

 

(24)  
Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings, extensions,
renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in clauses (6), (7),
(8), (9), (10), (11), (15) and (25) of this definition of “Permitted Liens”; provided,
however, that (x) such new Lien shall be limited to all or part of the same property that secured the original Lien (plus
proceeds or products of such property or improvements on such property), and (y) the Indebtedness secured by such Lien at such
time is not increased to any amount greater than the sum of (A) the outstanding principal amount or, if greater, committed amount
of the Indebtedness described under clauses (6), (7), (8), (9), (10), (11), (15)
and (25) of this definition of “Permitted Liens” at the time the original Lien became a Permitted Lien under this
Agreement, and (B) an amount necessary to pay accrued and unpaid interest, any fees and expenses, including any premium and defeasance
costs, related to such refinancing, refunding, extension, renewal or replacement; provided that with regard to liens incurred
under this clause (24) with respect to Liens

 

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originally
permitted under clause (11) or (25), clauses (11) and (25) shall continue to be calculated assuming such
Lien was incurred under such clauses;

 

(25)  
Liens securing obligations which obligations do not exceed, at the time such Lien is created or Incurred, taken together with
all other Liens Incurred pursuant to this clause (25), the greater of $22,500,000 and 30.0% of Consolidated EBITDA, determined
on a Pro Forma Basis as of the most recently ended Test Period;

 

(26)  
[reserved];

 

(27)  
Liens on receivables and related assets including proceeds thereof being sold in factoring arrangements entered into in the ordinary
course of business;

 

(28)  
Liens that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not given
in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Borrower or any of its
Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the
Borrower and its Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of
the Borrower or any of its Restricted Subsidiaries in the ordinary course of business;

 

(29)  
Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts
or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes;

 

(30)  
Liens deemed to exist in connection with Investments in repurchase agreements permitted under Section 7.3; provided
that such Liens do not extend to any assets other than those assets that are the subject of such repurchase agreement;

 

(31)  
restrictions on dispositions of assets to be disposed of pursuant to merger agreements, stock or asset purchase agreements and
similar agreements;

 

(32)  
customary options, put and call arrangements, rights of first refusal and similar rights relating to Investments in joint ventures,
partnerships and similar investment vehicles;

 

(33)  
any amounts held by a trustee in the funds and accounts under an indenture securing any revenue bonds issued for the benefit of
the Borrower or any of its Restricted Subsidiaries;

 

(34)  
Liens (i) in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection
with the importation of goods in the ordinary course of business or (ii) on specific items of inventory or other goods and proceeds
of any Person securing such Person’s obligations in respect of bankers’ acceptances or letters of credit issued or created
for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods in the ordinary course
of business;

 

(35)  
Liens not given in connection with the issuance of Indebtedness for borrowed money (i) of a collection bank arising under
Section 4-210 of the UCC (or similar filings in any other jurisdiction) on items in the course of collection; (ii) attaching
to a pooling, commodity or securities trading account or other commodity or securities brokerage accounts incurred in the ordinary course
of business; and (iii) in favor of a banking or other financial institution arising as a matter of law or under customary general
terms and conditions encumbering deposits or other funds maintained with a financial institution (including the right of set-off) and
which are within the general parameters customary in the banking or

 

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finance
industry or arising pursuant to such banking or financial institution’s general terms and conditions (including Liens in favor
of deposit banks or securities intermediaries securing customary fees, expenses or charges in connection with the establishment, operation
or maintenance of deposit accounts or securities accounts);

 

(36)  
(i) Liens solely on any cash earnest money deposits made in connection with any letter of intent or purchase agreement in
connection with an Investment permitted hereunder and (ii) Liens on advances of Cash Equivalents in favor of the seller of any property
to be acquired in a Permitted Investment to be applied against the purchase price for such Investment;

 

(37)  
customary Liens on deposits required in connection with the purchase of property, equipment and inventory, in each case incurred
in the ordinary course of business;

 

(38)  
Liens on Cash Equivalents or other property arising in connection with the defeasance, discharge, repayment or redemption of Indebtedness;
provided that such defeasance, discharge, repayment or redemption is permitted hereunder;

 

(39)  
Liens on property or assets under construction (and related rights) in favor of a contractor or developer or arising from progress
or partial payments by a third party relating to such property or assets;

 

(40)  
Liens given to a public utility or any municipality or Governmental Authority when required by such utility or authority in connection
with the operations of the Borrower or a Restricted Subsidiary thereof; provided that such Liens do not materially interfere with
the operations of the Borrower and its Restricted Subsidiaries, taken as a whole;

 

(41)  
Liens on assets of Non-Guarantor Subsidiaries, provided such Liens secure obligations of Non-Guarantor Subsidiaries that
are otherwise permitted hereunder and such Liens only encumber assets of such Non-Guarantor Subsidiaries;

 

(42)  
Liens arising out of or deemed to exist in connection with any financing transaction of the type described in clause 2(m)
of the definition of “Asset Sale”;

 

(43)  
(i) pledges, deposits or Liens arising as a matter of law in the ordinary course of business in connection with workers’
compensation schemes, payroll Taxes, unemployment insurance and other social security legislation and (ii) pledges and deposits
in the ordinary course of business securing liability for reimbursement or indemnification obligations of (including obligations in respect
of letters of credit or bank guarantees for the benefit of) insurance carriers providing property, casualty or liability insurance to
the Borrower or any Restricted Subsidiary;

 

(44)  
restrictive covenants affecting the use to which real property may be put; provided that such covenants are complied with;

 

(45)  
[reserved]; and

 

(46)  
zoning by-laws and other land use restrictions, including site plan agreements, development agreements and contract zoning agreements.

 

The
Borrower may divide, classify (or later reclassify) any Lien (or any portion thereof) in one or more of the above categories (including
in part in one category and in part another category) as set forth in this definition.

 

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“Permitted
Junior Priority Refinancing Debt”: any secured Indebtedness Incurred by the Borrower in the form of one or more series of junior
lien secured notes or junior lien secured term loans (each, a “Junior Priority Refinancing Term Facility”) or one
or more junior lien revolving credit facilities (each, a “Junior Priority Refinancing Revolving Facility”); provided
that (i) such Indebtedness constitutes Junior Lien Obligations, (ii) such Indebtedness constitutes Permitted Credit Agreement
Refinancing Debt in respect of Term Loans (including portions of Classes of Term Loans, Other Term Loans or Incremental Term Loans) or
outstanding Revolving Loans or Revolving Commitments and (iii) such Indebtedness complies with the Permitted Refinancing Requirements;
provided that an Officer’s Certificate signed on behalf of the Borrower delivered to the Administrative Agent at least five
(5) Business Days (or such shorter period reasonably acceptable to the Administrative Agent) prior to the Incurrence of such Indebtedness,
together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation
relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the requirement of this
definition shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Administrative Agent notifies
the Borrower within such five (5) Business Day period that it disagrees with such determination (including a reasonable description of
the basis upon which it disagrees)). Permitted Junior Priority Refinancing Debt will include any Registered Equivalent Notes issued in
exchange therefor.

 

“Permitted
Refinancing Requirements”: with respect to any Indebtedness Incurred by the Borrower to Refinance, in whole or part, any other
Indebtedness (such other Indebtedness, “Refinanced Debt”):

 

(a)  
with respect to all such Indebtedness:

 

(i)  
the other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors, discounts, premiums, and optional prepayment
or optional redemption provisions) are, taken as a whole, not materially more restrictive on the Group Members than those applicable
to the Refinanced Debt, when taken as a whole (except for (w) financial covenants or other covenants or provisions applicable only
to periods after the Latest Maturity Date at the time of such Refinancing, as may be agreed by the Borrower and the providers of such
Indebtedness, (x) terms that are conformed (or added) to the Loan Documents for the benefit of the Lenders pursuant to an amendment
between the Administrative Agent and the Borrower, (y) terms that are, solely in the case of notes, customary market terms at the time
of Incurrence (as determined by the Borrower in good faith) or (z) are approved by the Administrative Agent in its reasonable discretion;

 

(ii)  
if such Indebtedness is guaranteed, it is not guaranteed by any Restricted Subsidiary other than the Restricted Subsidiaries that
are Loan Parties; and

 

(iii)  
the proceeds of such Indebtedness are applied, substantially concurrently with the Incurrence thereof, to the prepayment (or satisfaction
and discharge) of the outstanding amount (and, if such Indebtedness constitutes Refinancing Revolving Debt, reductions of the Revolving
Commitments) of the Refinanced Debt in accordance with its terms;

 

provided,
that an Officer’s Certificate signed on behalf of the Borrower delivered to the Administrative Agent at least five (5) Business
Days (or a shorter period acceptable to the Administrative Agent) prior to the Incurrence of such Indebtedness, together with a reasonably
detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating
that the Borrower has determined in good faith that such terms and conditions satisfy the requirements of this definition, shall be conclusive
evidence that such terms and conditions satisfy the requirements of this definition, unless the Administrative Agent notifies the Borrower
within such five (5) Business Day

 

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period
that it disagrees with such determination (including a reasonable description of the basis upon which it disagrees);

 

(b)  
if such Indebtedness constitutes Refinancing Revolving Debt, (i) such Indebtedness does not mature (or require commitment
reductions or amortization) prior to the final stated maturity date of the Refinanced Debt and (ii) if such Indebtedness is provided
or guaranteed by a Person (who is not a Loan Party) that is an Affiliate of the Borrower, such Indebtedness includes provisions providing
for the pro rata treatment of payment, repayment, borrowings, participations and commitment reductions of the Revolving Facility
and such Indebtedness;

 

(c)  
if such Indebtedness constitutes Refinancing Term Debt:

 

(i)  (x)
in the case of Refinancing Term Debt Incurred under any First Priority Refinancing Term Facility or any Junior Priority Refinancing Term
Facility, subject to the Permitted Earlier Maturity Indebtedness Exception, such Indebtedness (A) does not mature prior to the maturity
date of the Refinanced Debt and (B) does not have a Weighted Average Life to Maturity shorter than the Weighted Average Life to Maturity
of the Refinanced Debt and (y) in the case of Refinancing Term Debt incurred under an Unsecured Refinancing Term Facility, such Indebtedness
does not mature or have scheduled amortization or payments of principal and is not subject to mandatory redemption or prepayment (except
(i) customary asset sale or change of control provisions or (ii) other mandatory redemptions that are also made or offered to holders
of outstanding Term Loans that are First Lien Obligations on at least a pari passu basis), in each case prior to the then Latest
Maturity Date at the time such Refinancing Term Debt is incurred;

 

(ii)  such
Indebtedness shares not greater than ratably in (or, if such Indebtedness constitutes Unsecured Refinancing Term Facility or Junior Priority
Refinancing Term Facility, on a junior basis with respect to) any voluntary or mandatory prepayments of any Term Loans then outstanding;
and

 

(d)  
if such Indebtedness is secured:

 

(i)  
such Indebtedness is not secured by any assets other than the Collateral (it being understood that such Indebtedness shall not
be required to be secured by all of the Collateral); provided that Indebtedness that may be Incurred by Non-Guarantor Subsidiaries
pursuant to Section 7.2 may be secured by assets of Non-Guarantor Subsidiaries; and

 

(ii)  
a Senior Representative acting on behalf of the providers of such Indebtedness shall have become party to an Intercreditor Agreement
(or any Intercreditor Agreement shall have been amended or replaced in a manner reasonably acceptable to the Administrative Agent), which
results in such Senior Representative having rights to share in the Collateral as provided in the definition of “Permitted First
Priority Refinancing Debt”, in the case of a First Priority Refinancing Revolving Facility or a First Priority Refinancing Term
Facility, or in the definition of “Permitted Junior Priority Refinancing Debt”, in the case of a Junior Priority Refinancing
Revolving Facility or a Junior Priority Refinancing Term Facility.

 

“Permitted
Tax Distributions”: payments made pursuant to Section 7.3(b)(xii).

 

“Permitted
Unsecured Refinancing Debt”: any unsecured Indebtedness Incurred by the Borrower in the form of one or more series of senior
unsecured notes or term loans (each, an “Unsecured Refinancing Term Facility”) or one or more revolving credit facilities
(each, an “Unsecured Refinancing Revolving Facility”); provided that (i) such Indebtedness constitutes
Permitted Credit Agreement

 

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Refinancing
Debt in respect of Term Loans (including portions of Classes of Term Loans, Other Term Loans or Incremental Term Loans) or outstanding
Revolving Loans or Revolving Commitments and (ii) such Indebtedness complies with the Permitted Refinancing Requirements; provided
that if an Officer’s Certificate signed on behalf of the Borrower delivered to the Administrative Agent for posting to the
Lenders at least five (5) Business Days (or such shorter period reasonably acceptable to the Administrative Agent) prior to the Incurrence
of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts
of the documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy
the requirement of this definition, and the Required Lenders shall not have notified the Borrower and the Administrative Agent that they
disagree with such determination (including a statement of the basis upon which each such Lender disagrees) within such five (5) Business
Day period, then such certificate shall be conclusive evidence that such terms and conditions satisfy such requirement. Permitted Unsecured
Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

 

“Person”:
any natural person, corporation, limited partnership, exempted limited partnership, exempted company, general partnership, limited liability
company, limited liability partnership, joint venture, association, joint stock company, trust, bank trust company, land trust, business
trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity whether legal or not,
or any series of any of the foregoing.

 

“Plan”:
at a particular time, any employee benefit plan that is covered by Title IV of ERISA and in respect of which the Borrower or a Commonly
Controlled Entity is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer”
as defined in Section 3(5) of ERISA.

 

“Platform”:
as defined in Section 6.2(a).

 

“Preferred
Stock”: any Equity Interest with preferential right of payment of dividends or redemptions upon liquidation, dissolution, or
winding up.

 

“Prepayment-Based
Incremental Amount”: an amount equal to the amount of all prior voluntary prepayments, the par value of all term loan buybacks
(to the extent such term loans are cancelled) (including buybacks pursuant to Section 2.23) and undrawn commitment reductions
of Term Loans, Revolving Loans, Incremental Term Loans, Incremental Revolving Loans and other Indebtedness that constitutes First Lien
Obligations (or, solely with respect to Junior Indebtedness initially Incurred under the Cash-Capped Incremental Facility, Indebtedness
that constitutes Junior Lien Obligations), in each case, (x) with respect to any revolving loans, to the extent accompanied by a permanent
reduction in such revolving commitments, (y) to the extent not funded with the proceeds of Indebtedness constituting “long term
indebtedness” (or comparable caption) under GAAP (other than Indebtedness in respect of any revolving credit facility) or the proceeds
of Permitted Cure Securities applied pursuant to Section 9.3 and (z) less any previous Incurrence pursuant Sections 2.25(a)(i)(y)
or 7.2(b)(vi)(y) (or Section 7.2(b)(xvi) in respect of amounts previously incurred under Section 7.2(b)(vi)(y)).

 

“Prepayment-Based
Incremental Facility”: as defined in Section 2.25(a)(i).

 

“Prime
Rate”: the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall
Street Journal ceases to quote such rate, the highest per annum interest rate published by the Board in Federal Reserve Statistical Release
H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar
rate quoted therein (as determined by the Administrative Agent) or any similar release by the Board (as determined by the

 

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Administrative
Agent). Each change in the Prime Rate shall be effective from and including the date such change is publicly announced or quoted as being
effective.

 

“Private
Lender Information”: any information and documentation that is not Public Lender Information.

 

“Pro
Forma Balance Sheet”: as defined in Section 4.1(a).

 

“Pro
Forma Basis”: (i)(i) if, during such Reference Period, the Borrower or any Restricted Subsidiary shall have made any Disposition
(or discontinued any operations) of at least a division of a business unit, then, with respect to the calculation of any test, financial
ratio, basket or covenant under this Agreement, including any Financial Definitions, such calculation for such Reference Period shall
be given pro forma effect thereto as if such Disposition or discontinuation occurred on the first day of such Reference Period (for the
avoidance of doubt, including (without duplication) pro forma adjustments, if any, to the extent set forth in the definition of “Consolidated
EBITDA”);

 

(ii)  
if, during such Reference Period, the Borrower or any Restricted Subsidiary shall have made an Investment or acquisition of assets,
in each case constituting at least a division of a business unit or a product line of, or all or substantially all of the assets of,
any Person (whether by way of merger, asset acquisition, acquisition of Capital Stock or otherwise), then, with respect to the calculation
of any test, financial ratio, basket or covenant under this Agreement, including any Financial Definition, such calculation for such
Reference Period shall be calculated after giving pro forma effect thereto as if such Investment or acquisition occurred on the first
day of such Reference Period (for the avoidance of doubt, including (without duplication) pro forma adjustments, if any, to the extent
set forth in the definition of “Consolidated EBITDA”);

 

(iii)  
if, during such Reference Period, the Borrower shall have designated any Restricted Subsidiary as an Unrestricted Subsidiary,
or designated any Unrestricted Subsidiary as a Restricted Subsidiary, then, with respect to the calculation of any test, financial ratio,
basket or covenant under this Agreement, including any Financial Definition, such calculation for such Reference Period shall be calculated
after giving pro forma effect thereto as if such designation occurred on the first day of such Reference Period;

 

(iv)  
if, during such Reference Period, the Borrower or any Restricted Subsidiary shall have Incurred or shall have repaid, retired
or extinguished any Indebtedness (other than Indebtedness under any revolving credit facility unless such Indebtedness has been permanently
repaid, retired or extinguished (and the commitments thereunder terminated) and not replaced), or issued or redeemed (or gives irrevocable
notice of redemption for) any Disqualified Stock or Preferred Stock, then, with respect to the calculation of any test, financial ratio,
basket or covenant under this Agreement, including any Financial Definition, such calculation for such Reference Period shall be calculated
giving pro forma effect to such Incurrence, repayment, retirement, extinguishment, issuance or redemption (including as contemplated
by any such irrevocable notice of redemption), as if the same had occurred on the first day of such Reference Period;

 

(v)  
if, following the last day of the most recently completed period of four consecutive fiscal quarters for which the financial statements
and certificates required by Section 6.1(a) or (b), as the case may be, have been or were required to have been delivered
and prior to the end of the Reference Period, the Borrower or any Restricted Subsidiary shall have Incurred or shall have repaid, retired
or extinguished any Indebtedness (other than Indebtedness under any revolving credit facility unless such Indebtedness has been permanently
repaid, retired or extinguished (and the commitments thereunder terminated) and not replaced), or issued or redeemed (or gives irrevocable
notice or

 

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redemption
for) any Disqualified Stock or Preferred Stock, then, with respect to the calculation of any test, financial ratio, basket or covenant
under this Agreement, including any Financial Definition, such calculation for such Reference Period shall be calculated giving pro forma
effect to such Incurrence, repayment, retirement, extinguishment, issuance or redemption (including as contemplated by any such irrevocable
notice of redemption), as if the same had occurred on the first day of such Reference Period; and

 

(vi)  
if, during such Reference Period, the Borrower or any Restricted Subsidiary shall have commenced any Operational Changes, then,
with respect to the calculation of any test, financial ratio, basket or covenant under this Agreement, including any Financial Definition,
such calculation for such Reference Period shall be calculated after giving pro forma effect thereto as if such designation or entry
occurred on the first day of such Reference Period.

 

If
any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated
as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging
Obligations applicable to such Indebtedness).

 

Interest
on (x) a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial
or accounting officer of the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP
and (y) any Indebtedness under a revolving credit facility shall be computed based upon the average daily balance of such Indebtedness
during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a
prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually
chosen, or, if none, then based upon such optional rate as the Borrower may designate.

 

The
term “Disposition” in this definition shall not include dispositions of inventory and other ordinary course dispositions
of property.

 

“Pro
Rata Share”: with respect to (i) any Revolving Facility, and each Revolving Lender’s share of such Revolving Facility,
at any time a fraction (expressed as a percentage), the numerator of which is the amount of the Revolving Commitments of such Revolving
Lender under such Revolving Facility at such time and the denominator of which is the amount of the aggregate Revolving Commitments under
such Revolving Facility at such time; provided that if such Revolving Commitments have been terminated, then the Pro Rata Share
of each Revolving Lender shall be determined based on the Pro Rata Share of such Revolving Lender under such Revolving Facility immediately
prior to such termination and after giving effect to any subsequent assignments made pursuant to the terms hereof, (ii) any Term
Facility, and each Term Lender and such Term Lender’s share of all Term Commitments or Term Loans under such Term Facility, at
any time a fraction (expressed as a percentage), the numerator of which is the amount of the Term Commitments of such Term Lender under
such Term Facility at such time and the denominator of which is the amount of the aggregate Term Commitments under such Term Facility
at such time; provided that if any Term Loans are outstanding under such Term Facility, then the Pro Rata Share of each Term Lender
shall be a fraction (expressed as a percentage), the numerator of which is the amount of the Term Loans of such Term Lender under such
Term Facility at such time and the denominator of which is the amount of the aggregate Term Loans at such time; provided, further,
that if all Term Loans under such Term Facility have been repaid, then the Pro Rata Share of each Term Lender under such Term Facility
shall be determined based on the Pro Rata Share of such Term Lender under such Term Facility immediately prior to such repayment, and
(iii) with respect to each Lender and all Loans and Outstanding Amounts at any time a fraction (expressed as a percentage), the
numerator of which is the Outstanding Amount with respect to Loans and Commitments of such Lender at such time

 

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(plus
such Lender’s obligation to purchase participations in undrawn Letters of Credit) and the denominator of which is the Outstanding
Amount (in aggregate) plus the amount of all Lenders’ obligations to purchase participations in undrawn Letters of Credit
at such time; provided that if all Outstanding Amounts have been repaid or terminated, then the Pro Rata Share of each Lender
shall be determined based on the Pro Rata Share of such Lender immediately prior to such termination and after giving effect to any subsequent
assignments made pursuant to the terms hereof.

 

“Properties”:
as defined in Section 4.14(a).

 

“PTE”:
means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time
to time.

 

“Public
Lender”: as defined in Section 6.2(a).

 

“Public
Lender Information”: information and documentation that is (i) of a type that would customarily be publicly available
(as reasonably determined by the Borrower) if the Borrower and its Subsidiaries were public reporting companies, (ii) publically available
(or could be derived from publically available information) or (iii) not material or inside information with respect to the Borrower
and its Subsidiaries or any of their respective securities for purposes of United States Federal and state securities laws.

 

“Purchase”:
as defined in the definition of “Dutch Auction.”

 

“Purchase
Money Note”: a promissory note of a Receivables Subsidiary evidencing a line of credit, which may be irrevocable, from the
Borrower or any of its Subsidiaries to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is intended
to finance that portion of the purchase price that is not paid by cash or a contribution of equity.

 

“Purchase
Notice”: as defined in the definition of “Dutch Auction.”

 

“Purchaser”:
as defined in the definition of “Dutch Auction.”

 

“QFC”
has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C.
5390(c)(8)(D).

 

“QFC
Credit Support” has the meaning assigned to it in Section 11.23.

 

“Qualified
Counterparty”: any Person that, as of the Closing Date or as of the date it enters into any Qualified Hedging Agreement, is
(i) if such Qualified Hedging Agreement is an Existing Swap Agreement, any counterparty thereto, (ii) the Administrative Agent,
a Joint Lead Arranger, a Lender or an Affiliate of the foregoing, in its capacity as a counterparty to such Qualified Hedging Agreement.

 

“Qualified
ECP Guarantor”: in respect of any Swap Obligation, any Loan Party that has total assets exceeding $10,000,000 (or total assets
exceeding such other amount so that such Loan Party is an “eligible contract participant” as defined in the Commodity Exchange
Act) at the time such Swap Obligation is incurred.

 

“Qualified
Equity Interests”: any Capital Stock that is not Disqualified Stock.

 

“Qualified
Hedging Agreement”: any (i) Existing Swap Agreement and (ii) Swap Agreement entered into by any Group Member, on
the one hand, and any Qualified Counterparty, on the other hand (including any Swap Agreement entered into prior to the Closing Date
between any Group Member).

 

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“Qualified
Receivables Financing”: any Receivables Financing of a Receivables Subsidiary that meets the following conditions: (1) the
Borrower shall have determined in good faith that such Qualified Receivables Financing (including financing terms, covenants, termination
events and other provisions) is in the aggregate economically fair and reasonable to Borrower and the Receivables Subsidiary, (2) all
sales of accounts receivable and related assets to the Receivables Subsidiary are made at Fair Market Value (as determined in good faith
by the Borrower), and (3) the financing terms, covenants, termination events and other provisions thereof shall be market terms
at the time the Receivables Financing is first introduced (as determined in good faith by the Borrower and it being understood that such
terms, covenants, termination events and other provisions may subsequently be modified so long as such modifications are on market terms
at the time of any such modification) and may include Standard Securitization Undertakings. The grant of a security interest in any accounts
receivable of the Borrower or any Restricted Subsidiary (other than a Receivables Subsidiary) to secure any Indebtedness shall not be
deemed a Qualified Receivables Financing.

 

“Qualifying
Lender” as defined in the definition of “Dutch Auction.”

 

“Qualifying
Loan” as defined in the definition of “Dutch Auction.”

 

“Quotation
Date” means, in respect of the determination of the Eurocurrency Rate for any Interest Period for a Eurocurrency Loan, the
day that is two Business Days prior to the first day of such Interest Period.

 

“Ratio-Based
Incremental Amount”:

 

(x)
with respect to any Indebtedness that constitutes First Lien Obligations, an unlimited amount so long as either (I) the Total First Lien
Net Leverage Ratio does not exceed 4.75 to 1.00, or (II) if incurred in connection with a Permitted Acquisition or other Investment,
the Total First Lien Net Leverage Ratio does not exceed the Total First Lien Net Leverage Ratio immediately prior to such Permitted Acquisition
or Investment;

 

(y)
with respect to any such Incremental Term Loans that constitute Junior Lien Obligations, an unlimited amount so long as either (I) the
Total Secured Net Leverage Ratio does not exceed 4.75 to 1.00, or (II) if incurred in connection with a Permitted Acquisition or other
Investment, the Total Secured Net Leverage Ratio does not exceed the Total Secured Net Leverage Ratio immediately prior to such Permitted
Acquisition or Investment; or

 

(z)
with respect to any such Incremental Term Loans that are unsecured, an unlimited amount so long as either (I) the Total Net Leverage
Ratio does not exceed 4.75 to 1.00 or (II) if incurred in connection with a Permitted Acquisition or other Investment, the Total Net
Leverage Ratio does not exceed the Total Net Leverage Ratio immediately prior to such Permitted Acquisition or Investment;

 

in
each case where such Total First Lien Net Leverage Ratio, Total Secured Net Leverage Ratio and/or Total Net Leverage Ratio, as applicable,
is calculated on a Pro Forma Basis (but without giving effect to the cash proceeds received from such Indebtedness that remain on the
balance sheet (other than Escrowed Proceeds)) as of the most recently completed Test Period (calculated assuming that any applicable
revolving commitments being Incurred pursuant to this definition are fully drawn throughout such period);

 

provided
that, for the avoidance of doubt, if, as part of the same transaction or series of related transactions, the Borrower Incurs Indebtedness
pursuant to the Ratio-Based Incremental Amount and substantially concurrently also Incurs Indebtedness (x) pursuant to the Prepayment-Based
Incremental

 

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Amount
or the Cash-Capped Incremental Amount (whether Incurred under Section 2.25 or Section 7.2(b)(vi) or under any or all such
sections) or (y) otherwise constituting a Fixed Amount, then the Total First Lien Net Leverage Ratio, Total Secured Net Leverage Ratio
and/or Total Net Leverage Ratio, as applicable, will be calculated with respect to such Incurrence pursuant to the Ratio-Based Incremental
Amount without regard to any such substantially concurrent Incurrence of Indebtedness under the Prepayment-Based Incremental Facility,
the Cash-Capped Incremental Facility or any other Fixed Amount.

 

“Ratio-Based
Incremental Facility”: as defined in Section 2.25(a)(i).

 

“Ratio
Debt”: as defined in Section 7.2(a).

 

“Receivables
Fees”: distributions or payments made directly or by means of discounts with respect to any participation interest issued or
sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Financing.

 

“Receivables
Financing”: any transaction or series of transactions that may be entered into by the Borrower or any Subsidiary of the Borrower
pursuant to which the Borrower or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Receivables Subsidiary
(in the case of a transfer by the Borrower or any of its Subsidiaries), and (b) any other Person (in the case of a transfer by a
Receivables Subsidiary), or may grant a security interest in, any accounts receivable (whether now existing or arising in the future)
of the Borrower or any of its Subsidiaries, and any assets related thereto including all collateral securing such accounts receivable,
all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and
other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset
securitization transactions involving accounts receivable and any Hedging Obligations entered into by the Borrower or any such Subsidiary
in connection with such accounts receivable.

 

“Receivables
Repurchase Obligation”: any obligation of a seller of receivables in a Qualified Receivables Financing to repurchase receivables
arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion
thereof becoming subject to any asserted defense, dispute, off-set or counterclaim of any kind as a result of any action taken by, any
failure to take action by or any other event relating to the seller.

 

“Receivables
Subsidiary”: a Wholly Owned Restricted Subsidiary of the Borrower (or another Person formed for the purposes of engaging in
a Qualified Receivables Financing with the Borrower or its Restricted Subsidiaries in which the Borrower or any Subsidiary of the Borrower
makes an Investment and to which the Borrower or any Subsidiary of the Borrower transfers accounts receivable and related assets) which
engages in no activities other than in connection with the financing of accounts receivable of the Borrower and its Subsidiaries, all
proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any business or activities
incidental or related to such business, and which is designated by the Board of Directors of the Borrower as a Receivables Subsidiary
and:

 

(a)  
no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Borrower
or any other Subsidiary of the Borrower (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness)
pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates the Borrower or any other Subsidiary of the
Borrower in any way other than pursuant to Standard Securitization Undertakings, or (iii) subjects any property or asset of the
Borrower or any other Subsidiary of the Borrower, directly or indirectly,

 

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contingently
or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings,

 

(b)  
with which neither the Borrower nor any other Subsidiary of the Borrower has any material contract, agreement, arrangement or
understanding other than on terms which the Borrower reasonably believe to be no less favorable to the Borrower or such Subsidiary than
those that might be obtained at the time from Persons that are not Affiliates of the Borrower, and

 

(c)  
to which neither the Borrower nor any other Subsidiary of the Borrower has any obligation to maintain or preserve such entity’s
financial condition or cause such entity to achieve certain levels of operating results.

 

Any
such designation by the Board of Directors of the Borrower shall be evidenced to the Administrative Agent by delivering to the Administrative
Agent a certified copy of the resolutions of the Board of Directors of the Borrower giving effect to such designation and an Officer’s
Certificate signed on behalf of the Borrower certifying that such designation complied with the foregoing conditions.

 

“Recipient”
means the Administrative Agent or any Lender (including any Issuing Lender), as applicable.

 

“Recovery
Event”: any settlement of or payment in respect of any property or casualty insurance claim or any condemnation, eminent domain
or similar proceeding relating to any asset of any Group Member.

 

“Reference
Period”: the period beginning on the first day of the most recently completed Test Period and ending on the Calculation Date.

 

“Reference
Time”: with respect to any setting of the then-current Benchmark means (1) if such Benchmark is Adjusted LIBO Rate, 11:00 a.m.
(London time) on the day that is two London banking days preceding the date of such setting, and (2) if such Benchmark is not Adjusted
LIBO Rate, the time determined by the Administrative Agent in its reasonable discretion.

 

“Refinance”:
in respect of any Indebtedness, to refinance, discharge, redeem, replace, defease, refund, extend, renew or repay any Indebtedness with
the proceeds of other Indebtedness, or to issue other Indebtedness, in exchange or replacement for, such Indebtedness in whole or in
part; “Refinanced” and “Refinancing” shall have correlative meanings.

 

“Refinanced
Credit Agreement Debt”: as defined in the definition of “Permitted Credit Agreement Refinancing Debt.”

 

“Refinanced
Debt”: as defined in the definition of “Permitted Refinancing Requirements.”

 

“Refinancing
Amendment”: an amendment to this Agreement executed by each of (a) the Borrower, (b) the Refinancing Arranger, (c) the
Administrative Agent and (d) each Additional Lender and Lender that agrees to provide any portion of the Permitted Credit Agreement
Refinancing Debt being Incurred pursuant thereto, in accordance with Section 2.26.

 

“Refinancing
Arranger”: any Person (who may be the Administrative Agent, if it so agrees) appointed by the Borrower, after consultation
with the Administrative Agent, the arranger of any Permitted Credit Agreement Refinancing Debt.

 

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“Refinancing
Indebtedness”: as defined in Section 7.2(b)(xvi).

 

“Refinancing
Revolving Debt”: any First Priority Refinancing Revolving Facility, Junior Priority Refinancing Revolving Facility or Unsecured
Refinancing Revolving Facility.

 

“Refinancing
Term B-1 Lender” shall mean, collectively, (i), each Existing Initial Term Loan Lender that executed and delivered a Consent
to Amendment No. 2 on or prior to the Amendment No. 2 Effective Date and (ii) each Additional Term B-1 Lender.

 

“Refinancing
Term B-1 Loan” shall mean, collectively, (i) a Term Loan in Dollars made pursuant to Section 2.1(b)(i) on the Amendment
No. 2 Effective Date and (ii) each Additional Term B-1 Loan.

 

“Refinancing
Term B-1 Loan Commitment” shall mean, with respect to a Cashless Option Term B-1 Lender, the agreement of such Cashless Option
Term B-1 Lender, the agreement of such Cashless Option Term B-1 Lender to exchange its Existing Initial Term Loans for an equal aggregate
principal amount of Refinancing Term B-1 Loans (or such lesser amount as determined by the Amendment No. 2 Arrangers) on the Amendment
No. 2 Effective Date, as evidenced by such Existing Initial Term Loan Lender executing and delivering Amendment No. 2.

 

“Refinancing
Term Debt”: Indebtedness under any First Priority Refinancing Term Facility, Junior Priority Refinancing Term Facility or Unsecured
Refinancing Term Facility.

 

“Refunded
Designated Acquisition Swingline Loans”: as defined in Section 2.7(b).

 

“Refunding
Capital Stock”: as defined in Section 7.3(b)(ii).

 

“Register”:
as defined in Section 11.6(b)(vi).

 

“Registered
Equivalent Notes”: with respect to any notes originally issued in a Rule 144A or other private placement transaction under
the Securities Act of 1933 (or pursuant to similar rules in any jurisdiction outside of the United States), substantially identical notes
(having the same Guarantees) issued in a dollar-for-dollar exchange therefor pursuant to an exchange offer registered with the SEC (or
any securities regulator outside of the United States).

 

“Regulated
Bank”: an Approved Commercial Bank that is (i) a U.S. depository institution the deposits of which are insured by the Federal
Deposit Insurance Corporation; (ii) a corporation organized under section 25A of the U.S. Federal Reserve Act of 1913; (iii) a branch,
agency or commercial lending company of a foreign bank operating pursuant to approval by and under the supervision of the Board under
12 CFR part 211; (iv) a non-U.S. branch of a foreign bank managed and controlled by a U.S. branch referred to in clause (iii); or (v)
any other U.S. or non-U.S. depository institution or any branch, agency or similar office thereof supervised by a bank regulatory authority
in any jurisdiction.

 

“Reimbursement
Obligation”: the obligation of the Borrower to reimburse the Issuing Lenders pursuant to Section 3.5 for amounts
drawn under Letters of Credit.

 

“Reinvestment
Deferred Amount”: with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by any Loan Party that are
not applied to repay the Term Loans or reduce the Revolving Commitments pursuant to Section 2.11(c) on account of the Borrower’s
right to reinvest such proceeds in lieu of applying them to the prepayment of Loans.

 

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“Reinvestment
Event”: as defined in Section 2.11(c).

 

“Reinvestment
Prepayment Amount”: with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any
amount expended prior to the relevant Reinvestment Prepayment Date to acquire, replace, reconstruct or repair assets useful in the business
of the Borrower and the Restricted Subsidiaries or in connection with a Permitted Acquisition.

 

“Reinvestment
Prepayment Date”: with respect to any Reinvestment Event, the earlier of (a) the date occurring 12 months after such
Reinvestment Event (or, if later, 180 days after the date the Borrower or a Restricted Subsidiary has entered into a binding commitment
to reinvest the Net Cash Proceeds of such Reinvestment Event prior to the expiration of such 12 month period) and (b) the date
on which the Borrower shall have notified the Administrative Agent in writing that it intends to prepay Indebtedness pursuant to Section
2.11(c).

 

“Rejection
Notice” as defined in Section 2.11(f).

 

“Related
Business Assets”: assets (other than Cash Equivalents) used or useful in a Similar Business.

 

“Related
Parties”: with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents
and advisors of such Person and of such Person’s Affiliates.

 

“Relevant
Governmental Body” means the Federal Reserve Board or the NYFRB, or a committee officially endorsed or convened by the Federal
Reserve Board or the NYFRB or, any successor thereto.

 

“Removal
Effective Date” as defined in Section 10.6(b).

 

“Reply
Amount”: as defined in the definition of “Dutch Auction.”

 

“Reportable
Event”: any of the events set forth in Section 4043(c) of ERISA, other than those events as to which the thirty day notice
period is waived.

 

“Repriced
Term Loan” as defined in Section 11.1(b)(ii).

 

“Repricing
Indebtedness”: as defined in the definition of “Repricing Transaction.”

 

“Repricing
Transaction”: other than in the context of a transaction involving a Change of Control or the financing of any Transformative
Acquisition (including, for the avoidance of doubt, within forty-five days before, concurrently with, or within forty-five days following
each such transaction), (i) the repayment, prepayment, refinancing, substitution or replacement of all or a portion of the Term
B-1 Loans with the Incurrence by the Borrower or any other Restricted Subsidiary of any broadly syndicated term loans (“Repricing
Indebtedness”) having an effective interest cost or weighted average yield (taking into account interest rate margin and benchmark
floors, recurring fees and all upfront or similar fees or original issue discount paid or payable by the Borrower or any Restricted Subsidiary
(amortized over the shorter of (A) the Weighted Average Life to Maturity of such term loans and (B) four years), but excluding
(x) any arrangement, commitment, structuring, syndication, ticking, unused line or other fees payable by the Borrower or Restricted
Subsidiary in connection therewith that are not shared ratably in the primary syndication thereof with all lenders or holders of such
term loans in their capacities as lenders or holders of such term loans, (y) customary consent fees for any amendment paid generally
to consenting lenders or holders and (z) any bona fide arrangement, commitment, ticking, structuring, syndication or similar fees paid
by the Borrower or Restricted Subsidiary to a lender or an Affiliate of a

 

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lender
in its capacity as a commitment party or arranger and regardless of whether such Repricing Indebtedness is syndicated to other third
parties)) that is less than the effective interest cost or weighted average yield of the Term B-1 Loans and (ii) any amendment,
waiver, consent or modification to this Agreement relating to the interest rate for, or weighted average yield (to be determined on the
same basis as that described in clause (i) above) of, the Term B-1 Loans directed at, or the result of which would be, the
lowering of the effective interest cost or weighted average yield applicable to the Term B-1 Loans.

 

“Required
Lenders”: at any time, non-Defaulting Lenders holding more than 50% of (a) until the Closing Date, the Commitments then
in effect and (b) thereafter, the sum of (i) the aggregate Outstanding Amount of all Term Loans at such time, (ii) the
Total Incremental Term Commitments then in effect and (iii) the Total Revolving Commitments then in effect or, if the Revolving
Commitments have been terminated, the Total Revolving Extensions of Credit at such time.

 

“Requirement
of Law”: as to any Person, any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental
Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property
is subject.

 

“Resignation
Effective Date” as defined in Section 10.6(a).

 

“Resolution
Authority”: an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

“Responsible
Officer”: the chief executive officer, representative, director, manager, president, vice president, executive vice president,
chief financial officer, treasurer or assistant treasurer, secretary or assistant secretary, an authorized signatory, an attorney-in-fact
(to the extent empowered by the board of directors/managers of the Borrower), or other similar officer of a Loan Party (or of its general
partner, managing member or sole member, if applicable) of the applicable Loan Party, but in any event, with respect to financial matters,
the chief financial officer, treasurer, vice president of finance, controller or comptroller (or other officer or director with equivalent
duties), and solely for purposes of notices given pursuant to Section 2, any other officer or employee of the applicable
Loan Party so designated by any of the foregoing officers in a notice to the Administrative Agent or any other officer or employee of
the applicable Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent.

 

“Restricted”:
when referring to Cash Equivalents of the Borrower and the Restricted Subsidiaries, means that such Cash Equivalents appear as “restricted”
on the consolidated balance sheet of the Borrower, other than on accounts of Liens in favor of (x) the Administrative Agent for
the benefit of the Secured Parties and (y) other Liens permitted under clauses (3), (10), (13), (15),
(24), (25), (30), (33), (35), (38) and (40) of the definition of “Permitted Liens”
above, other than consensual Liens on assets which constitute Collateral and rank prior to the Liens in favor of the Administrative Agent
(on behalf of the Secured Parties) on the Collateral.

 

“Restricted
Debt Payments” as defined in Section 7.3(c).

 

“Restricted
Payments”: as defined in Section 7.3(a).

 

“Restricted
Subsidiary”: any Subsidiary of the Borrower other than any Unrestricted Subsidiary (or, at the option of the Borrower, any
other Subsidiary of the Borrower designated by it as a Restricted Subsidiary); provided, however, that upon an Unrestricted
Subsidiary’s ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted
Subsidiary”.

 

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“Retained
Declined Proceeds”: as defined in Section 2.11(f).

 

“Retired
Capital Stock”: as defined in Section 7.3(b)(ii).

 

“Return
Bid”: as defined in the definition of “Dutch Auction.”

 

“Reuters”:
as applicable, Thomson Reuters Corp., Refinitiv, or any successor thereto.

 

“Revolving
Borrowing”: a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurocurrency Loans
or Term Benchmark Loans, having the same Interest Period made by
each of the Revolving Lenders.

 

“Revolving
Commitment”: as to any Lender, the obligation of such Lender, if any, to make Revolving Loans
and participate in Designated Acquisition Swingline Loans and Letters of Credit in an aggregate principal and/or face amount not to exceed
the amount set forth under the heading “Revolving Commitment” opposite such Lender’s name on Schedule II to Amendment
No. 3 or in the Assignment and Assumption, Refinancing
Amendment or Incremental Amendment pursuant to which such Lender became a party hereto, as applicable, as the same may be changed from
time to time pursuant to the terms hereof. The Revolving Commitments shall include all Incremental No.
1 Revolving Credit Commitments. The Total Revolving Commitments as of the Amendment No. 3 Effective Date is $475,000,000. For the avoidance
of doubt, the availability of Revolving Commitments shall be reduced by the Elected Amount of BRP C Corp. Acquisition Indebtedness that
are Designated Acquisition Swingline Loans.(i)
prior to the Amendment No. 5 Effective Date, the Existing Revolving Commitments, and (ii) on and after the Amendment No. 5 Effective
Date, the 2022 Revolving Commitments.

 

“Revolving
Commitment Increase”: as defined in Section 2.25(a).

 

“Revolving
Commitment Increase Lender”: as defined in Section 2.25(d).

 

“Revolving
Commitment Period”: the period from and including the Closing Date to but excluding the Revolving Termination Date.

 

“Revolving
Excess”: as defined in Section 2.11(e).

 

“Revolving
Extensions of Credit”: as to any Revolving Lender at any time to an amount equal to the sum of (a) the aggregate Outstanding
Amount of all Revolving Loans held by such Lender at such time, (b) such Lender’s Revolving Percentage of the aggregate Outstanding
Amount of all L/C Obligations at such time and (c) such Lender’s Revolving Percentage of the aggregate Outstanding Amount of Designated
Acquisition Swingline Loans at such time.

 

“Revolving
Facility”: any Class of Revolving Commitments and the extensions of credit made thereunder, as the context may require.

 

“Revolving
Lender”: each Lender that has a Revolving Commitment or that holds Revolving Loans. For the avoidance of doubt, each Revolving
Lender making an Incremental No. 1 Revolving Credit Commitment pursuant to the Amendment No. 3 shall constitute a “Revolving Lender”
hereunder and, after the Amendment No. 3 Effective Date, the Administrative Agent shall update and/or modify the Register to give effect
to the Amendment No. 3 Effective Date and the transactions contemplated by the Amendment No. 3.

 

“Revolving
Loan Note”: a promissory note substantially in the form of Exhibit F-1.

 

“Revolving
Loans”: as defined in Section 2.4(a).

 

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“Revolving
Percentage”: as to any Revolving Lender at any time, the percentage which such Lender’s Revolving Commitment then constitutes
of the Total Revolving Commitments or, at any time after the Revolving Commitments shall have expired or terminated, the percentage which
the aggregate Outstanding Amount of such Lender’s Revolving Loans at such time constitutes of the aggregate Outstanding Amount
of all Revolving Loans at such time; provided that in the event that the Revolving Loans are paid in full prior to the reduction
to zero of the Total Revolving Extensions of Credit, the Revolving Percentages shall be determined in a manner designed to ensure that
the other outstanding Revolving Extensions of Credit shall be held by the Revolving Lenders on a comparable basis.

 

“Revolving
Termination Date”: the fifth anniversary of the Closing DateApril
1, 2027.

 

“S&P”:
Standard & Poor’s Rating Service, a division of S&P Global Inc. and any successor thereto.

 

“Sale
Leaseback Transaction”: any arrangement with any Person or Persons, whereby in contemporaneous or substantially contemporaneous
transactions the Borrower or any Restricted Subsidiary sells substantially all of its right, title and interest in any property and,
in connection therewith, the Borrower or a Restricted Subsidiary acquires, leases or licenses back the right to use all or a material
portion of such property.

 

“Sanctioned
Person”: (a) any Person listed in any Sanctions Laws-related list of designated persons maintained by OFAC (including
the designation as a “specially designated national” or “blocked person”), the U.S. Department of State, the
United Nations Security Council, the European Union, the United Kingdom or any EU member state, and (b) any Person 50% or greater
owned or controlled by any such Person or Persons.

 

“Sanctions
Laws”: the economic sanctions laws and regulations administered or enforced by the U.S. Government (including OFAC or the U.S.
Department of State), the United Nations Security Council, Canada, the European Union and the United Kingdom and any other applicable
sanctions authority.

 

“SEC”:
the Securities and Exchange Commission, any successor thereto and any analogous Governmental Authority.

 

“Secured
Parties”: the collective reference to the Administrative Agent, the Lenders (including each Issuing Lender and the Designated
Acquisition Swingline Lender), any Qualified Counterparties and any Cash Management Providers.

 

“Securities
Act”: the Securities Act of 1933, as amended from time to time, and any successor statute.

 

“Security
Agreement”: the Pledge and Security Agreement dated as of the Closing Date among the Loan Parties and the Administrative Agent,
substantially in the form of Exhibit A.

 

“Security
Agreements”: collectively, the Security Agreement and each other security agreement and security agreement supplement executed
and delivered pursuant to Section 5.1(a), Section 6.9, Section 6.11 or Section 6.15 or
pursuant to the Security Agreement, in each case as amended, restated, supplemented, replaced or otherwise modified from time to time
in accordance with its terms.

 

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“Security
Documents”: the collective reference to the Security Agreements, each Intellectual Property Security Agreement, each Segregated
Acquisition Amount Deposit Account Control Agreement, each Mortgage, collateral assignments, security agreement supplements, security
agreements, pledge agreements or other similar agreements delivered to the Administrative Agent pursuant to Section 5.1(a),
Section 6.9, Section 6.11 or Section 6.15 or pursuant to the Security Agreement, and each of the
other agreements, instruments or documents that creates or purports to create a Lien which in each case, to the extent legally possible,
is created in favor of the Administrative Agent for the benefit of the Secured Parties, whether entered into on or after the Closing
Date.

 

“Segregated
Acquisition Amount”: any proceeds of Incremental Term Loans (which are the same Class of Term Loans as the Initial Term Loans
or Term B-1 Loans) incurred after the Closing Date and deposited in the Segregated Acquisition Amount Deposit Account that are designated
in writing by the Borrower to the Administrative Agent as Segregated Acquisition Amount.

 

“Segregated
Acquisition Amount Deposit Account” has the meaning specified in Section 4.16(c).

 

“Segregated
Acquisition Amount Deposit Account Control Agreement” has the meaning specified in Section 4.16(c).

 

“Senior
Representative”: with respect to any series of Permitted First Priority Refinancing Debt or Permitted Junior Priority Refinancing
Debt or any series of Indebtedness permitted under Section 7.2(b)(vi), the trustee, administrative agent, collateral agent,
security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, Incurred or otherwise
obtained, as the case may be, and each of their successors in such capacities.

 

“Significant
Subsidiary”: at any date of determination, each Restricted Subsidiary that would be a “Significant Subsidiary”
within the meaning of Rule 1-02 under the Securities Act as such rule is in effect on the Closing Date.

 

“Similar
Business”: any business, service or other activity engaged in by the Borrower, any of the Restricted Subsidiaries, or any direct
or indirect parent on the Closing Date and any business or other activities that are reasonably similar, ancillary, complementary or
related to, or a reasonable extension, development or expansion of, the businesses in which the Borrower and the Restricted Subsidiaries
are engaged on the Closing Date.

 

“Single
Employer Plan”: any Plan that is covered by Title IV of ERISA, but that is not a Multiemployer Plan.

 

“SOFR”:
with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the
SOFR Administrator on the SOFR Administrator’s Website at approximately 8:00 a.m. (New York City time) on the immediately succeeding
Business Day.

 

“SOFR
Administrator”: the NYFRB (or a successor administrator of the secured overnight financing rate).

 

“SOFR
Administrator’s Website”: the NYFRB’s Website, currently at http://www.newyorkfed.org, or any successor source
for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.

 

“SOFR
Available Tenor” means, as of any date of determination and with respect to the then-current SOFR Benchmark, as applicable, any
tenor for such SOFR Benchmark (or component 

 

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thereof)
or payment period for interest calculated with reference to such SOFR Benchmark (or component thereof), as applicable, that is or may
be used for determining the length of an Interest Period for any term rate or otherwise, for determining any frequency of making payments
of interest calculated pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such SOFR
Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (e) of Section 2.16(ii).

 

“SOFR
Benchmark” means, initially, with respect to any Term Benchmark Loan, the Term SOFR Rate; provided that if a SOFR Benchmark
Transition Event, and the related SOFR Benchmark Replacement Date have occurred with respect to the Daily Simple SOFR or Term SOFR Rate,
as applicable, or the then-current SOFR Benchmark, then “SOFR Benchmark” means the applicable SOFR Benchmark Replacement
to the extent that such SOFR Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) of Section 2.16(ii).

 

“SOFR
Benchmark Replacement” means, for any SOFR Available Tenor, the first alternative set forth in the order below that can be determined
by the Administrative Agent for the applicable SOFR Benchmark Replacement Date:

 

(1)  the
Adjusted Daily Simple SOFR;

 

(2)  the
sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for the
then-current Benchmark for the applicable SOFR Corresponding Tenor giving due consideration to (i) any selection or recommendation of
a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing
market convention for determining a benchmark rate as a replacement for the then-current SOFR Benchmark for dollar-denominated syndicated
credit facilities at such time in the United States and (b) the related SOFR Benchmark Replacement Adjustment;

 

If
the SOFR Benchmark Replacement as determined pursuant to clause (1) or (2) above would be less than the 0.00%, the SOFR Benchmark Replacement
will be deemed to be 0.00% for the purposes of this Agreement and the other Loan Documents.

 

“SOFR
Benchmark Replacement Adjustment” means, with respect to any replacement of the then-current SOFR Benchmark with a SOFR Unadjusted
Benchmark Replacement for any applicable Interest Period and SOFR Available Tenor for any setting of such SOFR Unadjusted Benchmark Replacement,
the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or
zero) that has been selected by the Administrative Agent and the Borrower for the applicable SOFR Corresponding Tenor giving due consideration
to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the
replacement of such SOFR Benchmark with the applicable SOFR Unadjusted Benchmark Replacement by the Relevant Governmental Body on the
applicable SOFR Benchmark Replacement Date and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment,
or method for calculating or determining such spread adjustment, for the replacement of such SOFR Benchmark with the applicable SOFR
Unadjusted Benchmark Replacement for dollar-denominated syndicated credit facilities at such time.

 

“SOFR
Benchmark Replacement Conforming Changes” means, with respect to any SOFR Benchmark Replacement and/or any Term Benchmark Loan,
any technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate,” the definition
of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest
Period,” timing 

 

    88 

     

    

and
frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation
notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters)
that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such SOFR Benchmark and to permit
the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative
Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines
that no market practice for the administration of such SOFR Benchmark exists, in such other manner of administration as the Administrative
Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

 

“SOFR
Benchmark Replacement Date” means, with respect to any SOFR Benchmark, the earliest to occur of the following events with respect
to such then-current SOFR Benchmark:

 

(1)  in
the case of clause (1) or (2) of the definition of “SOFR Benchmark Transition Event,” the later of (a) the date of the public
statement or publication of information referenced therein and (b) the date on which the administrator of such SOFR Benchmark (or the
published component used in the calculation thereof) permanently or indefinitely ceases to provide all SOFR Available Tenors of such
SOFR Benchmark (or such component thereof); or

 

(2)  in
the case of clause (3) of the definition of “SOFR Benchmark Transition Event,” the first date on which such SOFR Benchmark
(or the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator
of such SOFR Benchmark (or such component thereof) to be no longer representative; provided, that such non-representativeness will be
determined by reference to the most recent statement or publication referenced in such clause (c) and even if any SOFR Available Tenor
of such SOFR Benchmark (or such component thereof) continues to be provided on such date.

 

For
the avoidance of doubt, (i) if the event giving rise to the SOFR Benchmark Replacement Date occurs on the same day as, but earlier than,
the SOFR Reference Time in respect of any determination, the SOFR Benchmark Replacement Date will be deemed to have occurred prior to
the SOFR Reference Time for such determination and (ii) the “SOFR Benchmark Replacement Date” will be deemed to have occurred
in the case of clause (1) or (2) with respect to any SOFR Benchmark upon the occurrence of the applicable event or events set forth therein
with respect to all then-current SOFR Available Tenors of such SOFR Benchmark (or the published component used in the calculation thereof).

 

“SOFR
Benchmark Transition Event” means, with respect to any SOFR Benchmark, the occurrence of one or more of the following events with
respect to such then-current SOFR Benchmark:

 

(1)
a public statement or publication of information by or on behalf of the administrator of such SOFR Benchmark (or the published component
used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all SOFR Available Tenors of
such SOFR Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication,
there is no successor administrator that will continue to provide any SOFR Available Tenor of such SOFR Benchmark (or such component
thereof);

 

(2)
a public statement or publication of information by the regulatory supervisor for the administrator of such SOFR Benchmark (or the published
component used in the calculation thereof), the Federal Reserve Board, the NYFRB, the CME Term SOFR Administrator, an 

 

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insolvency
official with jurisdiction over the administrator for such SOFR Benchmark (or such component), a resolution authority with jurisdiction
over the administrator for such SOFR Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority
over the administrator for such SOFR Benchmark (or such component), in each case, which states that the administrator of SOFR such Benchmark
(or such component) has ceased or will cease to provide all SOFR Available Tenors of such Benchmark (or such component thereof) permanently
or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue
to provide any SOFR Available Tenor of such SOFR Benchmark (or such component thereof); or

 

(3)
a public statement or publication of information by the regulatory supervisor for the administrator of such SOFR Benchmark (or the published
component used in the calculation thereof) announcing that all SOFR Available Tenors of such SOFR Benchmark (or such component thereof)
are no longer, or as of a specified future date will no longer be, representative.

 

For
the avoidance of doubt, a “SOFR Benchmark Transition Event” will be deemed to have occurred with respect to any SOFR Benchmark
if a public statement or publication of information set forth above has occurred with respect to each then-current SOFR Available Tenor
of such SOFR Benchmark (or the published component used in the calculation thereof).

 

“SOFR
Benchmark Unavailability Period” means, with respect to any SOFR Benchmark, the period (if any) (x) beginning at the time that
a SOFR Benchmark Replacement Date pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no SOFR Benchmark
Replacement has replaced such then-current SOFR Benchmark for all purposes hereunder and under any Loan Document in accordance with Section
2.16(ii) and (y) ending at the time that a SOFR Benchmark Replacement has replaced such then-current SOFR Benchmark for all purposes
hereunder and under any Loan Document in accordance with Section 2.16(ii).

 

“SOFR
Corresponding Tenor”: with respect to any SOFR Available Tenor means, as applicable, either a tenor (including overnight) or an
interest payment period having approximately the same length (disregarding business day adjustment) as such SOFR Available Tenor.

 

“SOFR
Reference Time” with respect to any setting of the then-current SOFR Benchmark means (1) if such SOFR Benchmark is the Term SOFR
Rate, 5:00 a.m. (Chicago time) on the day that is two Business Days preceding the date of such setting or (2) if such SOFR Benchmark
is none of the Term SOFR Rate or Daily Simple SOFR, the time determined by the Administrative Agent in its reasonable discretion.

 

“SOFR
Unadjusted Benchmark Replacement” means the applicable SOFR Benchmark Replacement excluding the related SOFR Benchmark Replacement
Adjustment.

 

“Solvency
Certificate”: a certificate duly executed by a Responsible Officer substantially in the form of Exhibit I.

 

“Solvent”:
with respect to any Person and its Subsidiaries on a consolidated basis, means that as of any date of determination, (a) each of
the amount at which the assets (both tangible and intangible), in their entirety, of Borrower and its Subsidiaries taken as a whole would
change hands between a willing buyer and a willing seller, within a commercially reasonable period of time, each having reasonable knowledge
of the relevant facts, with neither being under any compulsion to act and the amount that could be obtained by an independent willing
seller from an independent willing buyer if the assets (both

 

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tangible
and intangible) of Borrower and its Subsidiaries taken as a whole are sold on a going concern basis with reasonable promptness in an
arm’s-length transaction under present conditions for the sale of comparable business enterprises insofar as such conditions can
be reasonably evaluated of the assets of Borrower and its Subsidiaries taken as a whole exceed their recorded liabilities (including
contingent liabilities that would be recorded in accordance with GAAP) of Borrower and its Subsidiaries taken as a whole, as of the date
hereof after giving effect to the consummation of the Transactions, determined in accordance with GAAP consistently applied and maximum
estimated amount of liabilities reasonably likely to result from pending litigation and other contingent liabilities of Borrower and
its Subsidiaries taken as a whole after giving effect to the Transactions (including all fees and expenses related thereto but exclusive
of such contingent liabilities to the extent reflected in recorded liabilities (including contingent liabilities that would be recorded
in accordance with GAAP) of Borrower and its Subsidiaries taken as a whole, as of the date hereof after giving effect to the consummation
of the Transactions, determined in accordance with GAAP consistently applied), as identified and explained in terms of their nature and
estimated magnitude by responsible officers of Borrower; (ii) Borrower and its Subsidiaries taken as a whole after giving effect to the
Transactions have sufficient capital to ensure that it is a going concern; and (iii) Borrower and its Subsidiaries taken as a whole after
giving effect to the Transactions have sufficient assets and cash flow to pay their respective recorded liabilities (including contingent
liabilities that would be recorded in accordance with GAAP) of Borrower and its Subsidiaries taken as a whole, as of the date hereof
after giving effect to the consummation of the Transactions, determined in accordance with GAAP consistently applied and maximum estimated
amount of liabilities reasonably likely to result from pending litigation and other contingent liabilities of Borrower and its Subsidiaries
taken as a whole after giving effect to the Transactions (including all fees and expenses related thereto but exclusive of such contingent
liabilities to the extent reflected in the recorded liabilities (including contingent liabilities that would be recorded in accordance
with GAAP) of Borrower and its Subsidiaries taken as a whole, as of the date hereof after giving effect to the consummation of the Transactions,
determined in accordance with GAAP consistently applied), as identified and explained in terms of their nature and estimated magnitude
by responsible officers of Borrower as those liabilities mature or (in the case of contingent liabilities) otherwise become payable.
For the purposes hereof, it is assumed that the indebtedness and other obligations incurred on the date hereof will come due on their
respective stated maturities.

 

“Specified
Cash Management Agreement”: any Cash Management Agreement entered into by any Group Member, on the one hand, and any Cash Management
Provider, on the other hand.

 

“Specified
Class”: as defined in Section 2.28(a).

 

“Specified
Refinancing Indebtedness” Refinancing Indebtedness permitted under Section 7.2(b)(xvi) that is incurred to Refinance
outstanding Term Loans.

 

“Specified
Representations”: the representations and warranties set forth in Sections 4.3(a), 4.4(a) (solely as it relates
to the Loan Documents), 4.4(c), 4.5(i) (with respect to the Organizational Documents only), 4.10, 4.13, 4.16,
4.17, 4.18(a) (with respect to the Patriot Act only), 4.18(d) (with respect to the U.S. Foreign Corrupt Practices
Act of 1977, as amended, and OFAC only) and 4.19 (in each case, only with respect to the Borrower).

 

“Standard
Securitization Undertakings”: representations, warranties, covenants, indemnities and guarantees of performance entered into
by the Borrower or any Subsidiary of the Borrower which the Borrower has determined in good faith to be customary in a Receivables Financing
including those relating to the servicing of the assets of a Receivables Subsidiary, it being understood that any Receivables Repurchase
Obligation shall be deemed to be a Standard Securitization Undertaking.

 

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“Stated
Maturity Date”: with respect to any security, the date specified in such security as the fixed date on which the final payment
of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision
providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency beyond the control
of the issuer unless such contingency has occurred).

 

“Subordinated
Indebtedness”: (a) with respect to the Borrower, any Indebtedness of the Borrower which is by its terms contractually
subordinated in right of payment to the Loans, and (b) with respect to any Guarantor, any Indebtedness of such Guarantor which is
by its terms contractually subordinated in right of payment to its Guarantee.

 

“Subsidiary”:
with respect to any Person (1) any corporation, partnership, limited liability company, unlimited liability company, association,
joint venture or other business entity (other than a partnership, joint venture or limited liability company) of which more than 50%
of the total voting power of shares of stock or other ownership interests entitled (without regard to the occurrence of any contingency)
to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar functions)
having the power to direct or cause the direction of the management and policies thereof at the time owned or controlled, directly or
indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, (2) any partnership,
joint venture or limited liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity
and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by
such Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general,
special or limited partnership interests or otherwise, and (y) such Person or any Subsidiary of such Person is a controlling general
partner or otherwise controls such entity and (3) any Person that is consolidated in the consolidated financial statements of the specified
Person in accordance with GAAP. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries”
in this Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower.

 

“Successor
Company”: as defined in Section 7.8(i).

 

“Supported
QFC” has the meaning assigned to it in Section 11.23.

 

“Swap
Agreement”: any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement
involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination
of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided
by current or former directors, officers, employees or consultants of the Borrower or any of its Subsidiaries shall be a Swap Agreement.

 

“Swap
Obligation”: as defined in the definition of “Excluded Swap Obligation.”

 

“Syndication
Agents” collectively, the Co-Syndication Agents listed on the cover page hereof.

 

“Tax
Receivables Agreement”: that certain Tax Receivable Agreement dated as of October 28, 2019, among BRP Group, the Borrower and
the persons named therein.

 

“Taxes”:
all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other
charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 

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“Term
B-1 Lender” shall mean, collectively, (i), each Refinancing Term B-1 Lender, (ii) each Incremental Term B-1 Lender and (iii)
each Additional Incremental Term B-1 Lender.

 

“Term
B-1 Loan” shall mean, collectively, (i) each Refinancing Term B-1 Loan, (ii) each Incremental Term B-1 Loan and (iii) each
Additional Incremental Term B-1 Loan.

 

“Term
Benchmark Loans”: Loans that bear interest at a rate based on the definition of “Term Benchmark Rate”, other than any
ABR Loan.

 

“Term
Benchmark Rate”: with respect to any Borrowing of Term Benchmark Loans for any Interest Period, the Adjusted Term SOFR Rate.

 

“Term
Benchmark Tranche”: the collective reference to Term Benchmark Loans under a particular Facility the then current Interest Periods
with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been
made on the same day).

 

“Term
Borrowing”: a borrowing consisting of simultaneous Term Loans of the same Type.

 

“Term
Commitment”: as to any Lender, (i) the obligation of such Lender, if any, to make a Term Loan to the Borrower in a principal
amount not to exceed the amount set forth under the heading “Term Commitment” opposite such Lender’s name on Schedule 1.1A-1,
(ii) the Refinancing Term B-1 Loan Commitment, (iii) the Incremental Term B-1 Loan Commitment, (iv) the Additional Incremental Term B-1
Loan Commitment, (v) the Incremental Term Commitments, if any, issued after the Closing Date pursuant to Section 2.25 or
(vi) Other Term Commitments, if any, issued after the Closing Date pursuant to a Refinancing Amendment entered into pursuant to Section 2.26.
The original aggregate principal amount of the Term Commitments as of the Closing Date was $400,000,000 and as of the Amendment No. 4
Effective Date is $0.

 

“Term
Facility”: any Class of Term Loans, as the context may require.

 

“Term
Lenders”: each Lender that has a Term Commitment or that holds a Term Loan.

 

“Term
Loan”: an Initial Term Loan, the Term B-1 Loans, an Other Term Loan or an Incremental Term Loan, as the context requires.

 

“Term
Loan Maturity Date”: the seventh anniversary of the Closing Date.

 

“Term
Loan Note”: a promissory note substantially in the form of Exhibit F-2, as it may be amended, supplemented or otherwise
modified from time to time.

 

“Term Loan Purchase Amount”:
as defined in the definition of “Dutch Auction.”

 

“Term
Percentage”: as to any Term Lender at any time, the percentage which such Lender’s Term Commitment then constitutes of
the aggregate Term Commitments (or, at any time after the Closing Date, the percentage which the aggregate Outstanding Amount of such
Lender’s Term Loans at such time constitutes of the aggregate Outstanding Amount of all Term Loans at such time).

 

“Term
SOFR”: for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR
that has been selected or recommended by the Relevant Governmental Body.

 

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“Term
SOFR Determination Day” has the meaning assigned to it under the definition of Term SOFR Reference Rate.

 

“Term
SOFR Notice”: a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition
Event.

 

“Term
SOFR Rate” means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period,
the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement
of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

 

“Term
SOFR Reference Rate” means, for any day and time (such day, the “Term SOFR Determination Day”), with respect to any
Borrowing of Term Benchmark Loans denominated in Dollars and for any tenor comparable to the applicable Interest Period, the rate per
annum determined by the Administrative Agent as the forward-looking term rate based on the secured overnight financing rate as administered
by the SOFR Administrator. If by 5:00 pm (New York City time) on such Term SOFR Determination Day, the “Term SOFR Reference Rate”
for the applicable tenor has not been published by the CME Term SOFR Administrator and a Benchmark Replacement Date with respect to the
Term SOFR Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR Determination Day will be the Term SOFR Reference
Rate as published in respect of the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate was
published by the CME Term SOFR Administrator, so long as such first preceding Business Day is not more than five (5) Business Days prior
to such Term SOFR Determination Day. 

 

“Term
SOFR Transition Event”: the determination by the Administrative Agent that (a) Term SOFR
has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for
the Administrative Agent and (c) a Benchmark Transition Event has previously occurred resulting in a Benchmark Replacement in accordance
with Section 2.16(i) that is not Term SOFR.

 

“Test
Period” means, subject to Sections 1.2(f) and 1.4, the most recently ended period of four consecutive
fiscal quarters of the Borrower (taken as one account period) for which financial statements and certificates required by Section
6.1(a) or (b), as the case may be, are internally available.

 

“Title
Policy”: an ALTA or equivalent lender’s title insurance policy issued by a title insurer reasonably acceptable to Administrative
Agent pursuant to the terms of Section 6.9(b), subject only to those exceptions which are either Permitted Liens (with any
Liens on Collateral that are expressly contemplated to be junior to the Liens on the Collateral securing the Obligations to be listed
in the applicable Title Policy as subordinate to the Administrative Agent’s lien on the applicable Mortgaged Property) or are otherwise
reasonably approved by the Administrative Agent and containing such endorsements as are customary in the jurisdiction in which the applicable
Mortgaged Property is located and as the Administrative Agent shall reasonably require.

 

“Total
First Lien Net Leverage Ratio”: as at the last day of any period, the ratio of (a) the excess of (i) Consolidated
Total Indebtedness on such day that is secured by the Collateral and constitutes First Lien Obligations over (ii) an amount
equal to the sum of (x) the Unrestricted Cash Equivalents and (y) Cash Equivalents restricted in favor of the Administrative Agent (which
may also include Cash Equivalents securing other Indebtedness that are either (A) First Lien Obligations or (B) Junior Lien Obligations
subject to the terms of an Intercreditor Agreement, in any such case, so long as the holders of such other Indebtedness do not have the
benefit of a control agreement or other equivalent methods of

 

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perfection
(unless the Administrative Agent also has the benefit of a control agreement or other equivalent methods of perfection (including, for
the avoidance of doubt, Restricted Cash Equivalents that constitutes Escrowed Proceeds)), in each case of the Borrower and the Restricted
Subsidiaries on such date, to (b) Consolidated EBITDA, calculated on a Pro Forma Basis for such period,
and with such pro forma adjustments to Consolidated Total Indebtedness and Consolidated EBITDA as are appropriate and consistent with
the pro forma adjustment provisions set forth in the definition of “Debt Service Coverage Ratio”.

 

“Total
Incremental Term Commitments”: at any time, the aggregate principal amount of the Incremental Term Commitments then in effect.

 

“Total
Net Leverage Ratio”: as at the last day of any period, the ratio of (a) the excess of (i) the amount of Consolidated
Total Indebtedness on such day over (ii) an amount equal to the sum of (x) the Unrestricted Cash Equivalents and (y) Cash
Equivalents restricted in favor of the Administrative Agent (which may also include Cash Equivalents securing other Indebtedness that
are either (A) First Lien Obligations or (B) Junior Lien Obligations subject to the terms of an Intercreditor Agreement, in any such
case, so long as the holders of such other Indebtedness do not have the benefit of a control agreement or other equivalent methods of
perfection (unless the Administrative Agent also has the benefit of a control agreement or other equivalent methods of perfection (including,
for the avoidance of doubt, Restricted Cash Equivalents that constitutes Escrowed Proceeds)), in each case of the Borrower and the Restricted
Subsidiaries on such date, to (b) Consolidated EBITDA of the Borrower and the Restricted Subsidiaries, calculated on a Pro Forma
Basis for such period, and with such pro forma adjustments to Consolidated Total Indebtedness and
Consolidated EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Debt
Service Coverage Ratio”.

 

“Total
Revolving Commitments”: at any time, the aggregate principal amount of the Revolving Commitments then in effect.

 

“Total
Revolving Extensions of Credit”: at any time, the aggregate Outstanding Amount of the Revolving Extensions of Credit of the
Revolving Lenders at such time.

 

“Total
Secured Net Leverage Ratio”: as at the last day of any period, the ratio of (a) the excess of (i) Consolidated Total
Indebtedness on such day (x) constituting the Obligations or (y) that is otherwise secured by the Collateral over (ii) an
amount equal to the sum of (x) the Unrestricted Cash Equivalents and (y) Cash Equivalents restricted in favor of the Administrative
Agent (which may also include Cash Equivalents securing other Indebtedness that are either (A) First Lien Obligations or (B) Junior Lien
Obligations subject to the terms of an Intercreditor Agreement, in any such case, so long as the holders of such other Indebtedness do
not have the benefit of a control agreement or other equivalent methods of perfection (unless the Administrative Agent also has the benefit
of a control agreement or other equivalent methods of perfection (including, for the avoidance of doubt, Restricted Cash Equivalents
that constitutes Escrowed Proceeds))), in each case of the Borrower and the Restricted Subsidiaries on such date, to (b) Consolidated
EBITDA, calculated on a Pro Forma Basis for such period, and with such pro forma adjustments to
Consolidated Total Indebtedness and Consolidated EBITDA as are appropriate and consistent with the pro forma adjustment provisions set
forth in the definition of “Debt Service Coverage Ratio”.

 

“Transactions”:
(a) the execution and delivery of the Loan Documents to be entered into on the Closing Date and the funding of the Loans on the
Closing Date, (b) the consummation of the Existing Debt Release/Repayment and (c) the payment of fees and expenses Incurred
in connection with each of the foregoing.

 

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“Transferee”:
any Assignee or Participant.

 

“Transformative
Acquisition” means any acquisition by the Borrower or any Restricted Subsidiary that (a) is not permitted by the terms of the
Loan Documents immediately prior to the consummation of such acquisition or (b) if permitted by the terms of the Loan Documents immediately
prior to the consummation of such Acquisition, would not provide the Borrower and the Restricted Subsidiaries with adequate flexibility
under the Loan Documents for the continuation and/or expansion of their combined operations following such consummation, as determined
by the Borrower acting in good faith.

 

“Type”:
as to any Loan, its nature as an ABR Loan or,
a Eurocurrency Loan or a Term Benchmark Loan.

 

“UK
Financial Institution”: any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time)
promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended
from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment
firms, and certain affiliates of such credit institutions or investment firms.

 

“UK
Resolution Authority”: the Bank of England or any other public administrative authority having responsibility for the resolution
of any UK Financial Institution.

 

“Unadjusted
Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

 

“Undisclosed
Administration”: in relation to a Lender or its direct or indirect parent company the appointment of an administrator, provisional
liquidator, conservator, receiver, trustee, custodian or other similar official by a supervisory authority or regulator under or based
on the law in the country where such Lender is subject to home jurisdiction supervision if applicable law requires that such appointment
is not to be publicly disclosed.

 

“Uniform
Commercial Code” or “UCC”: the Uniform Commercial Code (or any similar or equivalent legislation) as in
effect from time to time in any applicable jurisdiction.

 

“United
States”: the United States of America.

 

“Unrestricted”:
when referring to Cash Equivalents, means that such Cash Equivalents are not Restricted.

 

“Unrestricted
Subsidiary”: (i) any Subsidiary of the Borrower designated by the Borrower as an Unrestricted Subsidiary pursuant to Section 6.12
subsequent to the Closing Date and (ii) any Subsidiary of an Unrestricted Subsidiary.

 

“Unsecured
Refinancing Revolving Facility”: as defined in the definition of “Permitted Unsecured Refinancing Debt.”

 

“Unsecured
Refinancing Term Facility”: as defined in the definition of “Permitted Unsecured Refinancing Debt.”

 

“U.S.
Government Securities Business Day” means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities
Industry and Financial Markets Association recommends

 

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that
the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

 

“U.S.
Special Resolution Regime” shall have the meaning provided in Section 11.23.

 

“U.S.
Subsidiary”: any Subsidiary of the Borrower organized under the laws of the United States, any state within the United States
or the District of Columbia.

 

“U.S.
Tax Compliance Certificate” shall have the meaning provided in Section 2.19(e)(ii)(2)(C). 

 

“Voting
Stock”: with respect to any Person as of any date, the Capital Stock of such Person that is at the time entitled to vote in
the election of the Board of Directors of such Person.

 

“Weighted
Average Life to Maturity”: when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, at
any date, the quotient obtained by dividing (1) the sum of the products of the number of years from the date of determination
to the date of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such
Disqualified Stock or Preferred Stock multiplied by the amount of such payment, by (2) the sum of all such payments.

 

“Wholly
Owned Restricted Subsidiary”: any Wholly Owned Subsidiary that is a Restricted Subsidiary.

 

“Wholly
Owned Subsidiary”: with respect to any Person, a Subsidiary of such Person 100% of the outstanding Capital Stock or other ownership
interests of which (other than directors’ qualifying shares or shares or interests required to be held by foreign nationals or
other third parties to the extent required by applicable law) shall at the time be owned by such Person or by one or more Wholly Owned
Subsidiaries of such Person.

 

“Write-Down
and Conversion Powers”: (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and
conversion powers are described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, any powers of
the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any
UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into
shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect
as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In
Legislation that are related to or ancillary to any of those powers.

 

1.2  
Other Interpretive Provisions.

 

(a)  
Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other
Loan Documents or any certificate or other document made or delivered pursuant hereto or thereto.

 

(b)  
As used herein and in the other Loan Documents, and any certificate or other document made or delivered pursuant hereto or thereto,
(i) accounting terms not defined in Section 1.1 and accounting terms partly defined in Section 1.1, to the
extent not defined, shall have the respective meanings given to them under GAAP, (ii) the words “include”, “includes”
and “including” shall be deemed to be followed by the phrase “without limitation”, (iii) the word “incur”
or “Incur” shall be

 

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construed
to mean incur, create, issue, assume or become liable in respect of (and the words “incurred”, “incurrence”,
“Incurred” or “Incurrence” shall have correlative meanings), (iv) the words “asset” and “property”
shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including
cash, Capital Stock, securities, revenues, accounts, real property, leasehold interests and contract rights, (v)  the term “consolidated”
with respect to any Person refers to such Person consolidated with the Restricted Subsidiaries, and excludes from such consolidation
any Unrestricted Subsidiary as if such Unrestricted Subsidiary were not an Affiliate of such Person, (vi) references to agreements
or other Contractual Obligations (including any of the Loan Documents) shall, unless otherwise specified, be deemed to refer to such
agreements or Contractual Obligations as amended, novated, supplemented, restated, extended, amended and restated or otherwise modified
from time to time and (vii) a debt instrument includes any equity or hybrid instrument to the extent characterized as indebtedness.

 

(c)  
The words “hereof”, “herein” and “hereunder” and words of similar import, when used in this
Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and clause, paragraph, Section,
Schedule and Exhibit references are to this Agreement unless otherwise specified.

 

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

 

(e)  
For the avoidance of doubt, unless otherwise specified herein, each date indicated in any Loan Document to fall on a Business
Day, if such date is not a Business Day, shall instead fall on the next succeeding Business Day.

 

(f)  
Prior to the first delivery of financial statements under Section 6.1, any ratio or other financial metric that is measured
based on the most recent financial statements delivered or required to be delivered pursuant to Section 6.1 (including any such
metric measured by reference to a Test Period) shall instead be based on the financial statements delivered pursuant to Section 5.1(c).

 

(g)  
For the avoidance of doubt, unless otherwise specified or the context indicates otherwise, all Financial Definitions and the definition
of Excess Cash Flow (including any defined term or section reference included therein) referred to in the Loan Documents shall be calculated
with reference to the Borrower and the Restricted Subsidiaries, determined on a consolidated basis.

 

(h)  
For the purposes of Sections 7.5 and 7.8, an allocation of assets to a division of a Restricted Subsidiary that
is a limited liability company, or an allocation of assets to a series of a Restricted Subsidiary that is a limited liability company,
shall be treated as a transfer of assets from one Restricted Subsidiary to another Restricted Subsidiary.

 

1.3  
Accounting. For purposes of all Financial Definitions and calculations in the Loan
Documents, including the determination of Excess Cash Flow, there shall be excluded for any period the effects of purchase accounting
(including the effects of such adjustments pushed down to the Borrower and the Restricted Subsidiaries) in component amounts required
or permitted by GAAP and related authoritative pronouncements (including the effects of such adjustments pushed down to the Borrower
and the Restricted Subsidiaries), as a result of the Transactions, any acquisition consummated prior to the Closing Date, any Permitted
Acquisition, or the amortization or write-off of any amounts thereof.

 

If
at any time any change in GAAP would affect the computation of any financial ratio, standard or term set forth in any Loan Document,
and the Borrower or the Required Lenders shall so request, the Administrative Agent and the Borrower shall negotiate in good faith to
amend such ratio, standard or

 

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term
to preserve the original intent thereof in light of such change in GAAP (subject to approval by the Borrower); provided that,
until so amended, such ratio, standard or term shall continue to be computed in accordance with GAAP immediately prior to such change
therein and the Borrower shall provide to the Administrative Agent and the Lenders within five (5) days after delivery of each certificate
or financial report required hereunder that is affected thereby a written statement of the Borrower setting forth in reasonable detail
the differences (including any differences that would affect any calculations relating to the financial covenants as set forth in Section 7.1)
that would have resulted if such financial statements had been prepared giving effect to such change; provided, that, to the extent
any such change would have a negative impact on the Borrower with respect to any ratio, financial calculation, financial reporting items
or requirement computation, the Borrower may (in its sole discretion) elect to compute or report such ratio, financial calculation, financial
reporting item or requirement in accordance with GAAP and/or the Applicable Tax Laws, as the case may be, as changed and accordingly,
if such an election is made, the Borrower shall not be required to deliver the written statement described in the immediately preceding
proviso with respect thereto.

 

1.4  
Limited Condition Transactions. Notwithstanding anything to the contrary herein, in
connection with any action (including any Limited Condition Transaction itself) being taken solely in connection with a Limited Condition
Transaction, for purposes of:

 

(a)  
determining compliance with any provision of this Agreement which requires the calculation of any financial ratio or test, including
the Total First Lien Net Leverage Ratio, Total Secured Net Leverage Ratio, Total Net Leverage Ratio, Fixed Charge Coverage Ratio and/or
Debt Service Coverage Ratio;

 

(b)  
testing availability under baskets set forth in this Agreement (including baskets measured as a percentage of Consolidated EBITDA
or Consolidated Net Income);

 

(c)  
testing the absence of a Default or Event of Default; or

 

(d)  
the making of any representations or warranties (other than pursuant to a borrowing under the Revolving Facility),

 

in each case, at
the option of the Borrower (the Borrower’s election to exercise such option in connection with any Limited Condition Transaction,
an “LCT Election”), the date of determination of whether any such action is permitted under the Loan Documents shall
be deemed to be the date the definitive agreements for (or in the case of a Limited Condition Transaction that involves some other manner
of establishing a binding obligation under local law, such other binding obligations to consummate), or irrevocable notice of, such Limited
Condition Transaction are entered into (the “LCT Test Date”), and if, after giving effect to the Limited Condition
Transaction and the other transactions to be entered into in connection therewith (including any Incurrence of Indebtedness and the use
of proceeds thereof) on a Pro Forma Basis as if they had occurred at the beginning of the most recently completed Test Period ending
prior to the LCT Test Date, the Borrower or the Restricted Subsidiaries would have been permitted to take such action on the relevant
LCT Test Date in compliance with such ratio, basket, test, Default or Event of Default “blocker” or making of representations
and warranties, such ratio, basket, test, Default or Event of Default “blocker” or making of representations and warranties
shall be deemed to have been complied with. For the avoidance of doubt, if the Borrower has made an LCT Election and any of the ratios,
baskets, tests, Default or Event of Default “blocker” or making of representations and warranties for which compliance was
determined or tested as of the LCT Test Date are exceeded as a result of fluctuations in any such ratio, basket, test, Default or Event
of Default “blocker” or making of representations and warranties, including due to fluctuations in Consolidated EBITDA at
or prior to the consummation of the relevant transaction or action, such baskets, ratios, tests, Default or Event of

 

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Default “blocker”
or making of representations and warranties will not be deemed to have been exceeded as a result of such fluctuations.

 

1.5  
Financial Ratio Calculations. For the avoidance of doubt, with respect to any amounts
incurred or transactions entered into (or consummated) in reliance on a provision of the Loan Documents under a specific covenant that
does not require compliance with a financial ratio or test (including a test based on the Debt Service Coverage Ratio, Fixed Charge Coverage
Ratio, the Total First Lien Net Leverage Ratio, the Total Secured Net Leverage Ratio and/or the Total Net Leverage Ratio) (any such amounts,
the “Fixed Amounts”) substantially concurrently with any amounts incurred or transactions entered into (or consummated)
in reliance on a provision of the Loan Documents under the same covenant that requires compliance with a financial ratio or test (including
a test based on the Debt Service Coverage Ratio, Fixed Charge Coverage Ratio, the Total First Lien Net Leverage Ratio, the Total Secured
Net Leverage Ratio and/or the Total Net Leverage Ratio) (any such amounts, the “Incurrence-Based Amounts”), it is
understood and agreed that (a) the Fixed Amounts shall be disregarded in the calculation of the financial ratio or test applicable to
the Incurrence-Based Amounts, and (b) except as provided in clause (a), the entire transaction shall be calculated on a Pro Forma Basis.
In addition, for the avoidance of doubt, any Indebtedness (and associated Liens, subject to the applicable priorities required pursuant
to the applicable Incurrence-Based Amounts), Investments, liquidations, dissolutions, mergers, consolidations, dividends, or any prepayments
of Indebtedness incurred or otherwise effected in reliance on Fixed Amounts may be reclassified at any time, as the Borrower may elect
from time to time, as incurred under the applicable Incurrence-Based Amounts if the Borrower together with the Restricted Subsidiaries
subsequently meets the applicable ratio for such Incurrence-Based Amounts on a Pro Forma Basis. Notwithstanding the foregoing, Revolving
Borrowings are not “Fixed Amounts.”

 

1.6  
Currency Equivalents Generally.

 

(a)  
The Administrative Agent or the Issuing Lender, as applicable, shall determine the Dollar
Equivalent of any Alternative Currency Letter of Credit as of each date (with such date to be reasonably determined by the Administrative
Agent) that is on or about the date of each request for the issuance, amendment, renewal or extension of such Alternative Currency Letter
of Credit, using the Exchange Rate for the applicable currency in relation to Dollars in effect on the date of determination, and each
such amount shall be the Dollar Equivalent of such Letter of Credit until the next required calculation thereof pursuant to this Section 1.6(a).

 

(b)  
The Dollar Equivalent of any L/C Borrowing made by any Issuing Lender in any Alternative
Currency and not reimbursed by the Borrower shall be determined as set forth in Section 3.5. In addition, the Dollar Equivalent
of the L/C Exposure shall be determined as set forth in Section 3.9, at the time and in the circumstances specified therein.

 

(c)  
The Administrative Agent or the Issuing Lenders, as applicable, shall notify the Borrower,
the applicable Lenders and the applicable Issuing Lender of each calculation of the Dollar Equivalent of each Letter of Credit denominated
in any Alternative Currency and each Borrowing in any Alternative Currency.

 

(d)  
Notwithstanding the foregoing, for purposes of determining compliance with Sections 7.2,
7.3 and 7.6 with respect to any amount of Indebtedness or Investment in a currency other than Dollars, no Default shall
be deemed to have occurred solely as a result of changes in rates of exchange occurring after the time such Lien, Indebtedness or Investment
is incurred; provided that, for the avoidance of doubt, the foregoing provisions of this Section 1.6 shall otherwise apply
to such

 

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Sections,
including with respect to determining whether any Indebtedness or Investment may be incurred at any time under such Sections.

 

(e)  
For purposes of determining compliance under Sections 7.5 and 7.6, any amount
in a currency other than Dollars will be converted to Dollars in a manner consistent with that used in calculating net income in the
Borrower’s annual financial statements delivered pursuant to Section 6.1(a); provided, however, that the foregoing
shall not be deemed to apply to the determination of any amount of Indebtedness.

 

(f)  
For purposes of determining compliance with any restriction on the incurrence of Indebtedness,
the Dollar Equivalent of the principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the Exchange
Rate in effect on the date such Indebtedness was incurred, in the case of term debt, or first committed, in the case of revolving credit
debt; provided that if such Indebtedness is incurred to extend, replace, refund, refinance, renew or defease other Indebtedness
denominated in a foreign currency, and such extension, replacement, refunding, refinancing, renewal or defeasance would cause the applicable
restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such extension, replacement,
refunding, refinancing, renewal or defeasance, such restriction shall be deemed not to have been exceeded so long as the principal amount
of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being extended, replaced, refunded, refinanced,
renewed or defeased.

 

1.7  
Treatment of Subsidiaries Prior to Joinder.

 

Each
Subsidiary of the Borrower that is required to be joined as a Loan Party pursuant to Section 6.9 shall, until the completion of
such joinder, be deemed for the purposes of Section 7 of this Agreement to be a Loan Party from and after the Closing Date (or
the date of formation or acquisition of such subsidiary).

 

1.8  
Interest Rates; Eurocurrency Notification.

 

The
interest rate on Eurocurrency Loans is determined by reference to the Eurocurrency Rate, which is derived from the London interbank offered
rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings
from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021,
it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with
any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered
rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available or may no longer
be deemed an appropriate reference rate upon which to determine the interest rate on Eurocurrency Loans. In light of this eventuality,
public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place
of the London interbank offered rate. Upon the occurrence of (i) a
Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, Section 2.16(i)(c)
and (d) provide the mechanism for determining an alternative rate of interest and
(ii) a SOFR Benchmark Transition Event, Section 2.16(ii)(b) provides a mechanism for determining an alternative rate of interest..
The Administrative Agent will promptly notify the applicable parties as and when required by Section 2.16(i)(f)
or Section 2.16(ii)(d), of any change to the reference rate upon which
the interest rate on Eurocurrency Loans or Term Benchmark Loans
is based. Except as otherwise provided in this Agreement, the Administrative Agent does not warrant or accept any responsibility for,
and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank
offered rate or other rates in the definition of “Eurocurrency Rate” and
“Term Benchmark Rate” or with respect to any

 

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alternative
or successor rate thereto, or replacement rate thereof (including, without limitation, (i) any such alternative, successor or replacement
rate implemented pursuant to Section 2.16(i)(c) or (d) or
Section 2.16(ii)(b) or, whether upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early
Opt-in Election, and (ii) the implementation of any Benchmark Replacement Conforming
Changes pursuant to Section 2.16(ei)(e) or
SOFR Benchmark Replacement Conforming Changes pursuant to Section 2.16(ii)(c), including without limitation, whether the composition
or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same value or
economic equivalence of, the Eurocurrency Rate or the Term Benchmark Rate
or have the same volume or liquidity as did the London interbank offered rate or
the secured overnight financing rate, in each case, prior to its discontinuance or unavailability other than, in each case,
to the extent of the Administrative Agent’s gross negligence, bad faith or willful misconduct as determined by a court of competent
jurisdiction in a final and non-appealable decision. Nothing in this Section shall constitute a representation or warranty by
the Borrower or any of its Restricted Subsidiaries nor can it constitute the basis of any Default or Event of Default.

 

1.9  
Divisions.

 

For
all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event
under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right,
obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent
Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first
date of its existence by the holders of its equity interests at such time.

 

SECTION
2.

AMOUNT AND TERMS OF COMMITMENTS

 

2.1  
Term Commitments. (a) Subject to the terms and conditions hereof, each Term Lender
severally agrees to make a single Term Loan to the Borrower on the Closing Date in Dollars and in an amount not to exceed the amount
of the Term Commitment of such Lender on the Closing Date. The Term Loans may from time to time be Eurocurrency Loans or ABR Loans, as
determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.12. The Term Commitments
in effect on the Closing Date shall automatically terminate at 11:59 p.m. (New York City time) on the Closing Date. Once borrowed
and repaid, no Term Loan may be re-borrowed.

 

(b)  
(i) Subject to and upon the terms and conditions herein set forth, each Cashless Option Term B-1 Lender severally agrees to exchange
its Existing Initial Term Loan for a like principal amount of Refinancing Term B-1 Loans (or such lesser amount as determined by the
Amendment No. 2 Arrangers) on the Amendment No. 2 Effective Date.

 

(ii)
Subject to and upon the terms and conditions herein set forth, each Additional Term B-1 Lender severally agrees to make Additional Term
B-1 Loans in Dollars to the Borrower on the Amendment No. 2 Effective Date in a principal amount not to exceed its Additional Term B-1
Loan Commitment on the Amendment No. 2 Effective Date. The Borrower shall prepay all Existing Initial Term Loans of Non-Consenting Existing
Initial Term Loan Lenders with a portion of the gross proceeds of the Additional Term B-1 Loans.

 

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(iii)
The Borrower shall pay all accrued and unpaid interest on the Existing Initial Term Loans to the Existing Initial Term Loan Lenders to,
but not including, the Amendment No. 2 Effective Date on such Amendment No. 2 Effective Date.

 

2.2  
Procedure for Borrowing Term Loans. The Borrower shall give the Administrative Agent
irrevocable notice, substantially in the form of Exhibit H or such other form as may be approved by the Administrative Agent (including
(x) any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent and (y) by
written notice), appropriately completed and signed by a Responsible Officer of the Borrower (which notice must be received by the Administrative
Agent no later than (A) 1:00 p.m. (New York City time), on the anticipated Closing Date, in the case of ABR Loans, (B) 11:00
a.m. (New York City time), one Business Day prior to the anticipated Closing Date, in the case of Eurocurrency Loans (in each case or
such shorter period as the Administrative Agent reasonably shall agree), requesting that the Term Lenders make the Initial Term Loans
on the Closing Date and specifying (i) the amount to be borrowed, (ii) the Type of Loan, (iii) the applicable Interest
Period, (iv) instructions for remittance of the Term Loans to be borrowed. Notwithstanding the foregoing, such notices may be conditioned
on the occurrence of the Closing Date or, with respect to Term Loans borrowed after the Closing Date, may be conditioned on the occurrence
of any transaction utilizing such Term Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Term Lender
thereof. Not later than 4:00 p.m. (New York City time) on the Closing Date, each such Term Lender shall make available to the Administrative
Agent an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. Such borrowing will then
be made available to the Borrower by the Administrative Agent crediting such account or by wire transfer as is designated in writing
to the Administrative Agent by the Borrower (or as otherwise directed by the Borrower), with the aggregate of the amounts made available
to the Administrative Agent by the Term Lenders and in like funds as received by the Administrative Agent.

 

2.3  
Repayment of Term Loans.

 

(a)  
The principal amount of the Term B-1 Loans of each Term Lender shall be repaid by the Borrower (i) on the last Business Day
of each March, June, September and December (commencing on December 31, 2021), in an amount equal to 0.25062656642% of the sum of the
aggregate Outstanding Amount of the Term Loans on the Amendment No. 4 Effective Date (which payments shall be reduced as a result of
the application of prepayments in accordance with the order of priority set forth in Section 2.17(b)) and (ii) on the
Term Loan Maturity Date, in an amount equal to the aggregate Outstanding Amount on such date, together in each case with accrued and
unpaid interest on the principal amount to be paid to but excluding the date of such payment.

 

(b)  
To the extent not previously paid, (i) each Incremental Term Loan shall be due and payable on the Incremental Term Loan Maturity
Date applicable to such Incremental Term Loan, (ii) each Other Term Loan shall be due and payable on the maturity date thereof as
set forth in the Refinancing Amendment applicable thereto and (iii) each Extended Term Loan shall be due and payable on the maturity
date thereof as set forth in the Permitted Amendment applicable thereto together, in each case, with accrued and unpaid interest on the
principal amount to be paid to but excluding the date of payment.

 

2.4  
Revolving Commitments.

 

(a)  
Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving
Loans”) to the Borrower in Dollars (or, with respect to any Incremental Revolving Loans, in an Approved Currency) from time
to time during the Revolving Commitment Period in an aggregate principal amount which, when added to such Lender’s Revolving

 

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Percentage
of the sum of (i) the aggregate Outstanding Amount of L/C Obligations at such time and (ii) the aggregate Outstanding Amount of the Designated
Acquisition Swingline Loans at such time, does not exceed the amount of such Lender’s Revolving Commitment. During the Revolving
Commitment Period the Borrower may use the Revolving Commitments by borrowing, repaying or prepaying the Revolving Loans in whole or
in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be EurocurrencyTerm
Benchmark Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5
and 2.12.

 

(b)  
The Borrower shall repay all outstanding Revolving Loans on the Revolving Termination Date, together with accrued and unpaid interest
on the Revolving Loans, to but excluding the date of payment.

 

2.5  
Procedure for Borrowing of Revolving Loans. The Borrower may borrow under the Revolving
Commitments during the Revolving Commitment Period on any Business Day, provided that the Borrower shall give the Administrative Agent
irrevocable notice (which notice must be received by the Administrative Agent prior to (a) 11:00 a.m. (New York City time), three (3)
Business Days prior to the requested Borrowing Date, in the case of EurocurrencyTerm
Benchmark Loans or (b) 1:00 p.m. (New York City time), on the requested date of such Borrowing, in the case of ABR Loans
(in each case or such shorter period as the Administrative Agent acting reasonably shall agree) and which notice shall be by written
notice), specifying (i) the amount, Class, currency and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing
Date, (iii) in the case of EurocurrencyTerm
Benchmark Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period
therefor and (iv) instructions for remittance of the applicable Loans to be borrowed; provided, however, that if the Borrower wishes
to request EurocurrencyTerm
Benchmark Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition
of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. (New
York City time) four (4) Business Days (or such shorter period as the Administrative Agent acting reasonably shall agree) prior to the
requested date of such Borrowing, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine
whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m. (New York City time) three (3) Business
Days before the requested date of such Borrowing, the Administrative Agent shall notify the Borrower whether or not the requested Interest
Period has been consented to by all the Lenders. Notwithstanding the foregoing, such notices may be conditioned on the occurrence of
the Closing Date, or with respect to Revolving Loans made pursuant to Revolving Commitments that become effective after the Closing Date,
may be conditioned on the occurrence of any transaction utilizing the applicable Revolving Loans. Each borrowing under the Revolving
Commitments shall be in a principal amount of the Borrowing Minimum or a whole multiple of the Borrowing Multiple in excess thereof;
provided that the Designated Acquisition Swingline Lender may request, on behalf of the Borrower, borrowings
under the Revolving Commitments that are ABR Loans in other amounts pursuant to Section 2.7. Upon receipt of any such notice from
the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount
of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower designated in the applicable
notice of Borrowing prior to 1:00 p.m. (New York City time) on the Borrowing Date requested by the Borrower in funds immediately
available to the Administrative Agent. Such borrowing will then be made available to the Borrower by the Administrative Agent crediting
such account or by wire transfer as is designated in writing to the Administrative Agent by the Borrower, with the aggregate of the amounts
made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent.

 

2.6  
Designated Acquisition Swingline Commitment.

 

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(a)  
Subject to the terms and conditions hereof, the Designated Acquisition Swingline Lender may, but shall have no obligation to,
make a portion of the credit otherwise available to the Borrower under the Revolving Commitments held by the Designated Acquisition Swingline
Lender from time to time during the Revolving Commitment Period in the form of the assumption or guarantee by the Borrower of BRP Acquisition
Indebtedness (“Designated Acquisition Swingline Loans”); provided that (i) the aggregate Outstanding Amount
of Designated Acquisition Swingline Loans at any time shall not exceed the Designated Acquisition Swingline Commitment then in effect
(notwithstanding that the aggregate Outstanding Amount of Designated Acquisition Swingline Loans at any time, when aggregated with the
Outstanding Amount of the Designated Acquisition Swingline Lender’s other Revolving Loans, may exceed the Designated Acquisition
Swingline Commitment then in effect) and (ii) the Borrower shall not request, and the Designated Acquisition Swingline Lender shall
not hold, any Designated Acquisition Swingline Loan if, after giving effect to such Designated Acquisition Swingline Loan, the aggregate
amount of the Available Revolving Commitments of the Lenders would be less than zero. During the Revolving Commitment Period, the Designated
Acquisition Swingline Commitment will be revolving in nature and the Borrower may utilize it for Designated Acquisition Swingline Loans,
repay Designated Acquisition Swingline Loans and utilize it again for Designated Acquisition Swingline Loans, all in accordance with
the terms and conditions hereof. Designated Acquisition Swingline Loans shall be ABR Loans only and shall be subject to the conditions
set forth in the definition of “BRP C Corp Acquisition Indebtedness.”

 

(b)  
The Borrower shall repay to the Designated Acquisition Swingline Lender the then unpaid principal amount of each Designated Acquisition
Swingline Loan within seven Business Days after the assumption or guarantee thereof by the Borrower, but in no event later than the Revolving
Termination Date.

 

2.7  
Procedure for Designated Acquisition Swingline Borrowing; Refunding of Designated Acquisition
Swingline Loans.

 

(a)  
Except to the extent set forth in the definition of BRP C Corp Acquisition Indebtedness, whenever a Borrower desires that BRP
C Corp Acquisition Indebtedness held by the Designated Acquisition Swingline Lender be assumed or guaranteed by the Borrower and be treated
as Designated Acquisition Swingline Loans, the Borrower shall give the Designated Acquisition Swingline Lender irrevocable written notice
(which notice must be received by the Designated Acquisition Swingline Lender not later than 11:00 a.m., New York City time, on the three
Business Days prior to the Borrowing Date, or such shorter notice period as is acceptable to the Designated Acquisition Swingline Lender)
substantially in the form of Exhibit H or such other form as may be approved by the Administrative Agent (including any form
on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed
and signed by a Responsible Officer of the Borrower specifying (i) the amount to be assumed or guaranteed and (ii) the requested Borrowing
Date (which shall be a Business Day during the Revolving Commitment Period). Each utilization of the Designated Acquisition Swingline
Commitment shall be in an amount equal the Borrowing Minimum or a whole multiple of the Borrowing Multiple in excess thereof and meet
the requirements of BRP C Corp Acquisition Indebtedness. Promptly thereafter, on the Borrowing Date specified in the notice in respect
of Designated Acquisition Swingline Loans, the BRP C Corp Acquisition Indebtedness shall be assumed or guaranteed by the Borrower and
be treated as a Designated Acquisition Swingline Loan hereunder.

 

(b)  
Unless the Borrower and the Designated Acquisition Swingline Lender otherwise agree, the Designated Acquisition Swingline Lender
shall, on behalf of the Borrower (which hereby irrevocably directs the Designated Acquisition Swingline Lender to act on its behalf),
give notice no later than 12:00 Noon, New York City time on the Business Day prior to the date that an outstanding

 

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Designated
Acquisition Swingline Loan is to become due pursuant to Section 2.6(b), requesting each Revolving Lender to make, and each Revolving
Lender hereby agrees to make, a Revolving Loan, in an amount equal to such Revolving Lender’s Revolving Percentage of the Outstanding
Amount of such Designated Acquisition Swingline Loan (the “Refunded Designated Acquisition Swingline Loan”) on such
due date, to repay the Designated Acquisition Swingline Lender. Each Revolving Lender shall make the amount of such Revolving Loan available
to the Administrative Agent in immediately available funds, not later than 10:00 a.m., New York City time, one (1) Business Day
after the date of such notice. The proceeds of such Revolving Loans shall be immediately made available by the Administrative Agent to
the Designated Acquisition Swingline Lender for application by the Designated Acquisition Swingline Lender to the repayment of the Refunded
Designated Acquisition Swingline Loan.

 

(c)  
If prior to the time a Revolving Loan would have otherwise been made pursuant to Section 2.7(b), one of the events
described in Section 9.1(g) shall have occurred and be continuing with respect to the Borrower or if for any other reason,
as determined by the Designated Acquisition Swingline Lender in its sole discretion, Revolving Loans may not be made as contemplated
by Section 2.7(b), each Revolving Lender shall, on the date such Revolving Loan was to have been made pursuant to the notice
referred to in Section 2.7(b) or upon the request of the Designated Acquisition Swingline Lender, purchase for cash an undivided
participating interest in the aggregate Outstanding Amount of Designated Acquisition Swingline Loans by paying to the Designated Acquisition
Swingline Lender an amount (the “Designated Acquisition Swingline Participation Amount”) equal to (i) such Revolving
Lender’s Revolving Percentage times (ii) the sum of the aggregate Outstanding Amount of Designated Acquisition Swingline
Loans at such time that were to have been repaid with such Revolving Loans or that the Designated Acquisition Swingline Lender otherwise
requests Revolving Lenders to purchase participation interests in.

 

(d)  
Whenever, at any time after the Designated Acquisition Swingline Lender has received from any Revolving Lender such Lender’s
Designated Acquisition Swingline Participation Amount, the Designated Acquisition Swingline Lender receives any payment on account of
the Designated Acquisition Swingline Loans, the Designated Acquisition Swingline Lender will distribute to such Lender its Designated
Acquisition Swingline Participation Amount (appropriately adjusted, in the case of interest payments, to reflect the period of time during
which such Lender’s participating interest was outstanding and funded and, in the case of principal and interest payments, to reflect
such Lender’s pro rata portion of such payment if such payment is not sufficient to pay the principal of and interest on
all Designated Acquisition Swingline Loans then due); provided, however, that in the event that such payment received by
the Designated Acquisition Swingline Lender is required to be returned, such Revolving Lender will return to the Designated Acquisition
Swingline Lender any portion thereof previously distributed to it by the Designated Acquisition Swingline Lender.

 

(e)  
Each Revolving Lender’s obligation to make the Loans referred to in Section 2.7(b) and to purchase participating
interests pursuant to Section 2.7(c) shall be absolute and unconditional and shall not be affected by any circumstance, including
(i) any setoff, counterclaim, recoupment, defense or other right that such Revolving Lender or the Borrower may have against the
Designated Acquisition Swingline Lender, the Borrower or any other Person for any reason whatsoever, (ii) the occurrence or continuance
of a Default or an Event of Default or the failure to satisfy any of the other conditions specified in Section 5, (iii) any
adverse change in the condition (financial or otherwise) of the Borrower, (iv) any breach of this Agreement or any other Loan Document
by the Borrower, any other Loan Party or any other Revolving Lender or (v) any other circumstance, happening or event whatsoever,
whether or not similar to any of the foregoing.

 

(f)  
Notwithstanding anything to the contrary contained in Sections 2.6 and 2.7 or elsewhere in this Agreement, (i) the
Designated Acquisition Swingline Lender shall not be obligated to

 

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make
any Designated Acquisition Swingline Loan at a time when a Revolving Lender is a Defaulting Lender unless the Designated Acquisition
Swingline Lender has entered into arrangements reasonably satisfactory to it and the Borrower to eliminate the Designated Acquisition
Swingline Lender’s risk with respect to the Defaulting Lender’s or Defaulting Lenders’ participation in such Designated
Acquisition Swingline Loans, including by cash collateralizing such Defaulting Lender’s or Defaulting Lenders’ Pro Rata Share
of the aggregate Outstanding Amount of Designated Acquisition Swingline Loans at such time and (ii) the Designated Acquisition Swingline
Lender shall not make any Designated Acquisition Swingline Loan after it has received written notice from the Borrower, any other Loan
Party or the Required Lenders stating that a Default or an Event of Default exists and is continuing until such time as the Designated
Acquisition Swingline Lender shall have received written notice (A) of rescission of all such notices from the party or parties originally
delivering such notice or notices or (B) of the waiver of such Default or Event of Default in accordance with Section 11.1.

 

2.8  
Commitment Fees, etc.

 

(a)  
The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender, in accordance with its Revolving
Percentage, a commitment fee (the “Commitment Fee”) equal to the Commitment Fee Rate times the actual daily
amount by which the Total Revolving Commitments exceed the sum of (i) the Outstanding Amount of Revolving Loans and (ii) the
Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.25. For
the avoidance of doubt, the Outstanding Amount of Designated Acquisition Swingline Loans shall not be counted towards or considered usage
of the Revolving Commitments of all Lenders for purposes of determining the Commitment Fee.  The Commitment Fee shall accrue at
all times during the Revolving Commitment Period, including at any time during which one or more of the conditions in Section 5
is not satisfied, and shall be due and payable in arrears on each applicable Fee Payment Date. The Commitment Fee shall be calculated
quarterly in arrears, and if there is any change in the Commitment Fee Rate during any quarter, the actual daily amount shall be computed
and multiplied by the Commitment Fee Rate separately for each period during such quarter that such Commitment Fee Rate was in effect.

 

(b)  
The Borrower agrees to pay to the Administrative Agent and the Joint Lead Arrangers (and their respective affiliates) the fees
in the amounts and on the dates set forth in any fee agreements with such Persons and to perform any other obligations contained therein.

 

2.9  
Termination or Reduction of Revolving Commitments. The Borrower shall have the right,
upon not less than one Business Days’ notice (to the extent there are no EurocurrencyTerm
Benchmark Loans that are Revolving Loans outstanding at such time) or not less than three (3) Business Days’ notice
(in any other case) to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of
the Revolving Commitments; provided that if any such notice of termination of the Revolving Commitments indicates that such termination
is to be conditioned on one or more conditions precedent, such notice of termination may be revoked or automatically terminated if such
conditions precedent are not met. Any termination or reduction of Revolving Commitments pursuant to this Section 2.9 shall be accompanied
by prepayment of the Revolving Loans and/or Designated Acquisition Swingline Loans to the extent,
if any, that the Total Revolving Extensions of Credit exceed the amount of the Total Revolving Commitments as so reduced; provided that
if the aggregate Outstanding Amount of Revolving Loans and Designated Acquisition Swingline Loans at
such time is less than the amount of such excess (because L/C Obligations constitute a portion thereof), the Borrower shall, to the extent
of the balance of such excess, Collateralize outstanding Letters of Credit, in each case, in a manner reasonably satisfactory to the
Administrative Agent. Any such reduction shall be in an amount equal to the Borrowing Minimum or a whole multiple of the Borrowing Multiple
in excess thereof or, if less than the Borrowing Minimum, the amount of the Revolving Commitments, or a whole

 

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multiple thereof,
and shall reduce permanently the Revolving Commitments then in effect. Each prepayment of the Loans under this Section 2.9 (except
in the case of Revolving Loans that are ABR Loans (to the extent all Revolving Loans are not being prepaid) and
Designated Acquisition Swingline Loans) shall be accompanied by accrued interest to the date of such prepayment on the amount
prepaid.

 

2.10  
Optional Prepayments.

 

(a)  
The Borrower may at any time and from time to time prepay the Loans, in whole or in part, in each case, without premium or penalty,
upon notice, substantially in the form of Exhibit E or such other form as may be approved by the Administrative Agent (including
any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately
completed and signed by a Responsible Officer of the Borrower, which notice must be received by the Administrative Agent no later than
2:00 p.m. (New York City time) three (3) Business Days prior to the prepayment date, in the case of Eurocurrency Loans and
Term Benchmark Loans, and no later than 2:00 p.m. (New York City time) on the prepayment date, in the case of ABR Loans; provided
that if a Eurocurrency Loan or Term Benchmark Loan is prepaid
on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant
to Section 2.21; provided, further, that such notice shall be irrevocable unless such notice of prepayment
indicates that such prepayment is conditioned upon one or more conditions precedent, in which case such notice of prepayment may be revoked
or automatically terminated if such conditions precedent are not satisfied and any Eurocurrency Loan
or Term Benchmark Loan that was the subject of such notice shall be continued as an ABR Loan. Upon receipt of any such notice
the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such
notice shall be due and payable on the date specified therein, together with (except in the case of Revolving Loans that are ABR Loans
and Designated Acquisition Swingline Loans, other than in connection with a repayment of all Loans) accrued interest to such date on
the amount prepaid. Partial prepayments of Term Loans and Revolving Loans shall be in an aggregate principal amount of (x) in the
case of ABR Loans, the Borrowing Minimum or a whole multiple of the Borrowing Multiple in excess thereof or (y) in the case of Eurocurrency
Loans and Term Benchmark Loans, the Borrowing Minimum or a whole
multiple of the Borrowing Multiple in excess thereof. Partial prepayments of Designated Acquisition Swingline Loans shall be in an aggregate
principal amount of $100,000 or a whole multiple of $10,000 in excess thereof.

 

(b)  
Notwithstanding anything herein to the contrary, in the event that, on or prior to the date that is six months after the Amendment
No. 4 Effective Date, the Borrower (x) makes any prepayment of Term B-1 Loans with the proceeds of any Repricing Transaction described
under clause (i) of the definition of “Repricing Transaction”, or (y) effects any amendment of this Agreement
resulting in a Repricing Transaction under clause (ii) of the definition of “Repricing Transaction”, the Borrower
shall on the date of such prepayment or amendment, as applicable, pay to each Lender (I) in the case of such clause (x),
1.00% of the principal amount of the Term B-1 Loans so prepaid and (II) in the case of such clause (y), 1.00% of the
aggregate amount of the Term B-1 Loans affected by such Repricing Transaction and outstanding on the effective date of such amendment.

 

2.11  
Mandatory Prepayments and Commitment Reductions.

 

(a)  
If any Indebtedness shall be Incurred by any Group Member (other than any Indebtedness permitted to be Incurred by any such Person
in accordance with Section 7.2 (other than Specified Refinancing Indebtedness), an amount equal to 100% of the Net Cash Proceeds
within one (1) Business Day after the receipt of such proceeds, shall be applied on the date of such issuance or Incurrence toward the
prepayment of the Loans as set forth in clause (g) of this Section 2.11.

 

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(b)  
Subject to clause (d) of this Section 2.11, if, for any Excess Cash Flow Period, there shall be Excess
Cash Flow, an amount equal to (i) the ECF Percentage for such period of such Excess Cash Flow minus (ii) $5,000,000 minus
(iii) at the election of the Borrower, to the extent not funded with (x) the proceeds of Indebtedness constituting “long
term indebtedness” (or a comparable caption) under GAAP (other than Indebtedness in respect of any revolving credit facility) or
(y) the proceeds of Permitted Cure Securities applied pursuant to Section 9.3, the aggregate amount of (1) all
Purchases by any Permitted Auction Purchaser (determined by the actual cash purchase price paid by such Permitted Auction Purchaser for
such Purchase and not the par value of the Loans purchased by such Permitted Auction Purchaser) pursuant to a Dutch Auction permitted
hereunder, (2) voluntary prepayments of Term Loans and Revolving Loans (but, in the case of Revolving Loans, only to the extent
of a concurrent and permanent reduction in the Revolving Commitments) (including pursuant to Section 2.23), (3) voluntary prepayments
and repurchases (to the extent of the actual cash purchase price paid for such loan buyback and not the par value) (including any “yanks”
of non-consenting lenders thereunder) of Indebtedness (other than the Obligations) that constitutes First Lien Obligations made by Borrower
or any of its Restricted Subsidiaries and (4) the aggregate amount of Additional ECF Reduction Amounts, in the case of clauses (1)
through (4) above, during the Excess Cash Flow Period or, at the election of the Borrower in its sole discretion and without
duplication with future periods, following such Excess Cash Flow Period and prior to such Excess Cash Flow Application Date (and including
the amount of any such prepayments and repurchases made in any previous Excess Cash Flow Period and not applied with respect to such
previous Excess Cash Flow Period or any successive previous Excess Cash Flow Period to reduce Excess Cash Flow payment obligations) shall,
on the relevant Excess Cash Flow Application Date, be applied toward the prepayment of (A) the Loans as set forth in clause (g)
of this Section 2.11 or, solely to the extent permitted by this section, (B) at the Borrower’s option, the prepayment
of outstanding Indebtedness that constitutes First Lien Obligations (collectively, “Other Applicable Indebtedness”).
Each such prepayment shall be made on a date (an “Excess Cash Flow Application Date”) no later than ten (10) Business
Days after the date on which the financial statements of the Borrower referred to in Section 6.1(a), for the fiscal year
with respect to which such prepayment is made, are required to be delivered to the Lenders. Any such amount of Excess Cash Flow may be
applied to Other Applicable Indebtedness only to (and not in excess of) the extent to which a mandatory prepayment is required under
the terms of such Other Applicable Indebtedness (with any remaining Excess Cash Flow applied to prepay outstanding Term Loans in accordance
with the terms hereof), unless such application would result in the holders of Other Applicable Indebtedness receiving in excess of their
pro rata share (determined on the basis of the aggregate Outstanding Amount of Term Loans and Other Applicable Indebtedness at such time)
of such Excess Cash Flow relative to Term Lenders, in which case such Excess Cash Flow may only be applied to Other Applicable Indebtedness
on a pro rata basis with outstanding Term Loans. To the extent the holders of Other Applicable Indebtedness decline to have such Indebtedness
repurchased, repaid or prepaid with any such Excess Cash Flow, the declined amount of such Excess Cash Flow shall promptly (and, in any
event, within ten (10) Business Days after the date of such rejection) be applied to prepay Term Loans in accordance with the terms
hereof (to the extent such Excess Cash Flow would otherwise have been required to be applied if such Other Applicable Indebtedness was
not then outstanding).

 

(c)  
Subject to clause (d) of this Section 2.11, if, on any date, the Borrower or any Restricted Subsidiary
shall receive Net Cash Proceeds from any Asset Sale or any Recovery Event in excess of $5,000,000 in any fiscal year, then, unless the
Borrower has determined in good faith that such Net Cash Proceeds shall be reinvested in its business (a “Reinvestment Event”),
an aggregate amount equal to 100% of such Net Cash Proceeds shall be applied within five (5) Business Days of such date to prepay (A) outstanding
Term Loans in accordance with this Section 2.11 and (B) at the Borrower’s option Other Applicable Indebtedness;
provided that, notwithstanding the foregoing, within five (5) Business Days following each Reinvestment Prepayment Date, an amount
equal to the Reinvestment Prepayment Amount with respect to any Asset Sale or Recovery Event, shall be applied to prepay the

 

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outstanding
Loans as set forth in Section 2.11(g); provided, further, that the Borrower may elect to deem expenditures
that would otherwise be permissible reinvestments pursuant to this clause (c) that occur within 90 days prior to the actual receipt of
Net Cash Proceeds from any Asset Sale or Recovery Event to have been reinvested in accordance with the provisions hereof so long as such
expenditure has been made no earlier that the earliest of (1) notice to the Administrative Agent of such Asset Sale or Recovery Event
(it being agreed that the Administrative Agent will not distribute such notice to the lenders until the occurrence of (2) or (3) as follows),
(2) the execution of a definitive agreement for such Asset Sale or (3) the consummation of such Asset Sale or the occurrence of such
Recovery Event. Any such Net Cash Proceeds may be applied to Other Applicable Indebtedness only to (and not in excess of) the extent
to which a mandatory prepayment in respect of such Asset Sale or Recovery Event is required under the terms of such Other Applicable
Indebtedness (with any remaining Net Cash Proceeds applied to prepay outstanding Term Loans in accordance with the terms hereof), unless
such application would result in the holders of Other Applicable Indebtedness receiving in excess of their pro rata share (determined
on the basis of the aggregate Outstanding Amount of Term Loans and Other Applicable Indebtedness at such time) of such Net Cash Proceeds
relative to Term Lenders, in which case such Net Cash Proceeds may only be applied to Other Applicable Indebtedness on a pro rata basis
with outstanding Term Loans. To the extent the holders of Other Applicable Indebtedness decline to have such indebtedness repurchased,
repaid or prepaid with any such Net Cash Proceeds, the declined amount of such Net Cash Proceeds shall promptly (and, in any event, within
ten (10) Business Days after the date of such rejection) be applied to prepay Term Loans in accordance with the terms hereof (to the
extent such Net Cash Proceeds would otherwise have been required to be applied if such Other Applicable Indebtedness was not then outstanding).

 

(d)  
Notwithstanding anything to the contrary in this Agreement (including clauses (a), (b) and (c) above), to the extent
that the Borrower has determined in good faith that (i)  any of or all the Net Cash Proceeds of any Asset Sale or Recovery Event
by a Subsidiary or Excess Cash Flow attributable to Subsidiaries (or branches of Subsidiaries) are prohibited or delayed by applicable
local law from being repatriated to the relevant Borrower(s) (including financial assistance and corporate benefit restrictions and fiduciary
and statutory duties of the relevant directors), (ii) such repatriation would present a material risk of liability for the applicable
Subsidiary or its directors or officers (or gives rise to a material risk of breach of fiduciary or statutory duties by any director
or officers) or (iii) in the case of Foreign Subsidiaries (including repatriation or distributions that would be made through Foreign
Subsidiaries), such repatriation or any distribution of the relevant amounts would result in material adverse tax consequences, the portion
of such Net Cash Proceeds or Excess Cash Flow so affected will not be required to be applied to repay Loans at the times set forth in
this Section 2.11 but may be retained by the applicable Subsidiary or branch (the Borrower hereby agreeing to cause the applicable
Subsidiary or branch to promptly take commercially reasonable actions to permit such repatriation without violating applicable local
law or incurring material adverse tax consequences; (provided, however, that no such commercially reasonable actions shall
be required to be taken later than twelve (12) months after the applicable Indebtedness Incurrence, Asset Sale, Recovery Event or (with
respect to any such Excess Cash Flow) the last day of the applicable Excess Cash Flow Period)) provided, that for a period of
365 days from receipt of such Net Cash Proceeds, if such repatriation of any of such affected Net Cash Proceeds or Excess Cash Flow
becomes permitted under such applicable local law, would not present a material risk as described in clause (ii) above, or
no such material adverse tax consequences would result from such distribution, such distribution will be promptly affected and such distributed
Net Cash Proceeds or Excess Cash Flow will be promptly (and in any event not later than ten (10) Business Days after such distribution)
applied (net of additional Taxes payable or reserved against as a result thereof) to the repayment of Term Loans pursuant to this Section 2.11.

 

(e)  
In the event the aggregate Outstanding Amount of Revolving Loans and L/C Obligations and Designated Acquisition Swingline Loans
at any time exceeds (the “Revolving Excess”)

 

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the
Total Revolving Commitments then in effect, the Borrower shall promptly repay Designated Acquisition Swingline Loans and Revolving Loans
and Collateralize Letters of Credit to the extent necessary to remove such Revolving Excess.

 

(f)  
The Borrower shall deliver to the Administrative Agent notice, substantially in the form of Exhibit E or such other
form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as
shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower, of each
prepayment required under this Section 2.11 (other than prepayments pursuant to Section 2.11(a)), which notice
must be received by the Administrative Agent not less than three (3) Business Days (or such shorter time as the Administrative Agent
shall reasonably agree) prior to the date such prepayment shall be made. The Administrative Agent will promptly notify each applicable
Lender of such notice. Each such Lender may reject all of its Pro Rata Share of the prepayment (such declined amounts, the “Declined
Proceeds”) by providing written notice (each, a “Rejection Notice”) to the Administrative Agent and the
Borrower no later than (i) 5:00 p.m., New York City time on the date of such Lender’s receipt of such notice from the Administrative
Agent, if such notice is received prior to 11:00 a.m., New York City time, and (ii) 12:00 p.m., New York City time on the date following
such Lender’s receipt of such notice from the Administrative Agent, if such notice is received after 11:00 a.m. New York City time.
If a Lender fails to deliver a Rejection Notice to the Administrative Agent within the time frame specified above, such failure will
be deemed an acceptance of such prepayment. Subject to any requirements of any other Indebtedness, any Declined Proceeds may be retained
by the Borrower (such retained amount, the “Retained Declined Proceeds”). Each notice delivered pursuant to the first
sentence of this clause (f) shall, as applicable, set forth in reasonable detail the calculation of the amount of such prepayment.

 

(g)  
Amounts to be applied in connection with any prepayments made pursuant to this Section 2.11 (other than Section
2.11(e)) shall be applied to the prepayment of the Term Loans in accordance with Section 2.17(b). The application of
any prepayment of Loans pursuant to this Section 2.11 shall be made on a pro rata basis within any Class of Loans
regardless of Type. Each prepayment of the Loans under this Section 2.11 (except in the case of Revolving Loans that are
ABR Loans (to the extent all Revolving Loans are not being prepaid)) shall be accompanied by accrued interest to the date of such prepayment
on the amount prepaid.

 

(h)  
Notwithstanding any of the other provisions of this Section 2.11, if any prepayment of Eurocurrency Loans or
Term Benchmark Loans is required to be made under this Section 2.11 other than on the last day of the Interest
Period applicable thereto, the Borrower may, in its sole discretion, deposit the amount of any such prepayment otherwise required to
be made thereunder with the Administrative Agent, to be held as security for the obligations of the Borrower to make such prepayment
pursuant to a cash collateral agreement to be entered into on terms reasonably satisfactory to the Administrative Agent until the last
day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or
from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Eurocurrency Loans or
Term Benchmark Loans in accordance with this Section 2.11 (determined as of the date such prepayment was required
to be originally made); provided that such unpaid Eurocurrency Loans or
Term Benchmark Loans shall continue to bear interest in accordance with Section 2.15 until such unpaid Eurocurrency
Loans or Term Benchmark Loans have been prepaid. Upon the occurrence
and during the continuance of any Event of Default, the Administrative Agent shall also be authorized (without any further action by
or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of the applicable Eurocurrency Loans
or Term Benchmark Loans in accordance with this Section 2.11
(determined as of the date such prepayment was required to be originally made). Notwithstanding anything to the contrary contained
in this Agreement, any amounts held by the Administrative Agent pursuant to this subsection

 

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(h)
pending application to any Eurocurrency Loans or Term Benchmark Loans shall
be held and applied to the satisfaction of such Eurocurrency Loans or Term
Benchmark Loans prior to any other application of such amounts as may be provided for herein.

 

(i)  
Notwithstanding anything to the contrary contained in Section 2.10 and this Section 2.11, a portion of the proceeds
of the Additional Term B-1 Loans shall be used to repay all Existing Initial Term Loans of the Non-Consenting Existing Initial Term Loan
Lenders.

 

2.12  
Conversion and Continuation Options.

 

(a)  
The Borrower may elect from time to time to convert Eurocurrency Loans or
Term Benchmark Loans to ABR Loans by giving the Administrative Agent prior irrevocable written notice of such election substantially
in the form of Exhibit H or such other form as approved by the Administrative Agent (including any form on an electronic
platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a
Responsible Officer of the Borrower, no later than 12:00 p.m. Local Time, three (3) Business Days prior to the proposed conversion date.
The Borrower may elect from time to time to convert ABR Loans to Eurocurrency Loans or
Term Benchmark Loans by giving the Administrative Agent prior irrevocable written notice of such election substantially in
the form of Exhibit H or such other form as approved by the Administrative Agent (including any form on an electronic platform
or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible
Officer of the Borrower, no later than 12:00 p.m. (New York City time), on the third Business Day preceding the proposed conversion date
(which notice shall specify the length of the initial Interest Period therefor); provided, further, that if the Borrower
wishes to request Eurocurrency Loans or Term Benchmark Loans having
an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,”
the applicable notice must be received by the Administrative Agent not later than 12:00 p.m. (New York City time) three (3) Business
Days prior to the requested date of such Borrowing conversion, whereupon the Administrative Agent shall give prompt notice to the Lenders
of such request and determine whether the requested Interest Period is approved by all of them. Not later than 12:00 p.m. (New York City
time), two (2) Business Days before the requested date of such Borrowing conversion, the Administrative Agent shall notify the Borrower
whether or not the requested Interest Period has been consented to by all the Lenders; provided, further that, no ABR Loan
may be converted into a Eurocurrency Loan or Term Benchmark Loan when
a bankruptcy or payment Event of Default has occurred and is continuing. Upon receipt of any such notice the Administrative Agent shall
promptly notify each relevant Lender thereof. If the Borrower fails to give a timely notice requesting any conversion from one Type of
Loan to another, then the applicable Loans shall be continued as, or converted to, (x)
in the case of Term Loans, Eurocurrency Loans with a one-month
Interest Period and (y) in the case of Revolving Loans, Term Benchmark Loans with a one-month Interest Period. Any such automatic
conversion to ABR Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency
Loans or Term Benchmark Loans.

 

(b)  
Any Eurocurrency Loan or Term Benchmark Loan may be continued
as such upon the expiration of the then current Interest Period with respect thereto by the Borrower giving irrevocable written notice
to the Administrative Agent , substantially in the form of Exhibit H or such other form as approved by the Administrative
Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent),
appropriately completed and signed by a Responsible Officer of the Borrower, no later than 2:00 p.m. (New York City time) on the
third Business Day preceding the proposed continuation date in the case of Eurocurrency Loans and
Term Benchmark Loans; provided, further that, to the extent the Required Lenders provide written notice thereof
to the Borrower, no Eurocurrency Loan or Term Benchmark Loan may
be

 

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continued
as such when any Event of Default has occurred and is continuing; provided, further, that if the Borrower shall fail to
give any required notice as described above in this paragraph, such Loans shall be automatically continued as (x)
in the case of Term Loans, Eurocurrency Loans and (y) in the case
of Revolving Loans, Term Benchmark Loans, in each case with a one-month Interest Period on the last day of such then expiring
Interest Period, and if such continuation is not permitted pursuant to the preceding proviso, such Loans shall be automatically converted
to ABR Loans on the last day of such then-expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly
notify each relevant Lender thereof.

 

2.13  
Limitations on Eurocurrency and
Term Benchmark Tranches. Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions and continuations
of Eurocurrency Loans and Term Benchmark Loans and all selections
of Interest Periods shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, (a) the
aggregate principal amount of the Eurocurrency Loans or Term Benchmark Loans
comprising each Eurocurrency Tranche or Term Benchmark Tranche,
as applicable, shall be equal to $1,000,000 or a whole multiple of $500,000 in excess thereof, and (b)(i) in the case
of Term Loans, no more than five Eurocurrency Tranches shall be outstanding at any one time and (ii) in the case of Revolving Loans,
no more than 10 EurocurrencyTerm
Benchmark Tranches shall be outstanding at any one time.

 

2.14  
Interest Rates and Payment Dates.

 

(a)  
Each Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal
to the Eurocurrency Rate determined for such day plus the Applicable Margin.

 

(b)  
Each Term Benchmark Loan shall bear interest for each day during each Interest Period
with respect thereto at a rate per annum equal to the Term Benchmark Rate determined for such day plus the Applicable Margin.

 

(c)  
(b) Each ABR Loan shall
bear interest at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin.

 

(d)  
(c) (i)  If all
or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity,
by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be
applicable thereto pursuant to the foregoing provisions of this Section 2.14 plus 2% and (ii) if all or a portion of (x) any
interest payable on any Loan or Reimbursement Obligation, (y) any Commitment Fee or (z) any other amount payable hereunder
or under any other Loan Document shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue
amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans under the relevant Facility plus
2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under
the Revolving Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of
such non-payment until such amount is paid in full (as well after as before judgment).

 

(e)  
(d) Interest shall be payable
in arrears on each Interest Payment Date, provided that interest accruing pursuant to Section 2.14(cd)
shall be payable from time to time on demand.

 

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2.15  
Computation of Interest and Fees.

 

(a)  
Interest and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the actual days elapsed, except
that, with respect to ABR Loans, the interest thereon shall be calculated on the basis of a 365- (or 366-, as the case may be) day year
for the actual days elapsed. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of each
determination of a Eurocurrency Rate or Term Benchmark Rate. Any
change in the interest rate on a Loan resulting from a change in the Alternate Base Rate or,
the Eurocurrency Rate or the Term Benchmark Rate shall
become effective as of the opening of business on the day on which such change becomes effective. The Administrative Agent shall as soon
as practicable notify the Borrower and the relevant Lenders of the effective date and the amount of each such change in interest rate.
In computing interest on any Loan, the date of the making of such Loan or the first day of an Interest Period applicable to such Loan
or, with respect to an ABR Loan being converted from a Eurocurrency Loan or
Term Benchmark Loan, the date of conversion of such Eurocurrency Loan
or Term Benchmark Loan to such ABR Loan, as the case may be, shall be included, and the date of payment of such Loan or the
expiration date of an Interest Period applicable to such Loan or, with respect to an ABR Loan being converted to a Eurocurrency Loan
or Term Benchmark Loan, the date of conversion of such ABR Loan
to such Eurocurrency Loan or Term Benchmark Loan, as the case may
be, shall be excluded; provided that if a Loan is repaid on the same day on which it is made, one day’s interest shall be
paid on that Loan.

 

(b)  
Each determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive
and binding on the Borrower and the Lenders in the absence of manifest error. The Administrative Agent shall, at the request of the Borrower,
deliver to the Borrower a statement showing the quotations used by the Administrative Agent in determining any interest rate pursuant
to Section 2.14.

 

2.16  
Inability to Determine Interest Rate; Illegality.

 

(i)  LIBOR
Loans

 

(a)  
If prior to the first day of any Interest Period (i) the Administrative Agent or the Majority Facility Lenders in respect
of the relevant Facility shall have determined (which determination shall be conclusive and binding upon the Borrower) that, by reason
of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurocurrency Rate for
such Interest Period; provided that no Benchmark Transition Event shall have occurred at such time, or (ii) the Administrative
Agent shall have received notice from the Majority Facility Lenders in respect of the relevant Facility that the Eurocurrency Rate determined
or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively certified
by such Lenders) of making or maintaining their affected Loans during such Interest Period, then the Administrative Agent shall give
written notice thereof to the Borrower and the relevant Lenders as soon as practicable thereafter. Thereafter, (x) the obligation
of the Lenders to make or maintain Eurocurrency Loans shall be suspended and (y) in the event of a determination described in the
preceding sentence with respect to the Eurocurrency component of the Alternate Base Rate, the utilization of the Eurocurrency Rate component
in determining the Alternate Base Rate shall be suspended, in each case until such time as the Administrative Agent (upon the approval
of the Majority Facility Lenders which approval the Administrative Agent agrees to seek promptly once it reasonably believes such condition
no longer exists) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion
to or continuation of Eurocurrency Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing
of ABR Loans in the amount specified therein.

 

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(b)  
Notwithstanding any other provision of this Agreement, if any Change in Law shall make it unlawful for any Lender to make
or maintain any Eurocurrency Loan or to give effect to its obligations as contemplated hereby with respect to any Eurocurrency Loan,
then, by written notice to the Borrower and to the Administrative Agent:

 

(i)  
any obligation of such Lender to make or continue Eurocurrency Loans or to convert ABR to Eurocurrency Loans shall be suspended,
and

 

(ii)  
if such notice asserts the illegality of such Lender making or maintaining ABR Loans the interest rate on which is determined
by reference to the Eurocurrency Rate component of the Alternate Base Rate, the interest rate on which ABR Loans of such Lender, shall,
if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component
of the Alternate Base Rate,

 

in each case of
clauses (i) and (ii) above until such Lender notifies the Administrative Agent and the Borrower that the circumstances
giving rise to such determination no longer exist.

 

Upon
receipt of such notice, the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay (solely if
requirement by a Requirement of Law) or,  if applicable, convert all of such Lender’s Eurocurrency Loans to ABR Loans (the
interest rate on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent
without reference to the Eurocurrency Rate component of the Alternate Base Rate) either on the last day of the Interest Period therefor,
if such Lender may lawfully continue to maintain such Eurocurrency Loans to such day, or immediately, if such Lender may not lawfully
continue to maintain such Eurocurrency Loans. In the event any Lender shall exercise its rights under clauses (i) or (ii)
of this Section 2.16(i)(b), all payments and prepayments of
principal that would otherwise have been applied to repay the Eurocurrency Loans that would have been made by such Lender or the converted
Eurocurrency Loans of such Lender shall instead be applied to repay the Alternate Base Rate Loans (if applicable) made by such Lender
in lieu of, or resulting from the conversion of, such Eurocurrency Loans. For purposes of this Section 2.16(i)(b),
a notice to the Borrower by any Lender shall be effective as to each Eurocurrency Loan made by such Lender, if lawful, on the last day
of the Interest Period then applicable to such Eurocurrency Loan; in all other cases, such notice shall be effective on the date of receipt
by the Borrower.

 

(c)  
Notwithstanding anything to the contrary herein or in any other Loan Document (it being understood
that Swap Agreements are not to be “Loan Documents”), if a Benchmark Transition Event or an Early Opt-in Election, as applicable,
and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark,
then (x) if a Benchmark Replacement is determined in accordance with clause (1) or (2) of the definition of “Benchmark Replacement”
for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any
Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent
of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with
clause (3) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will
replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m.
(New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without
any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative
Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required
Lenders.

 

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(d)  
Notwithstanding anything to the contrary herein or in any other Loan Document and subject
to the proviso below in this paragraph, if a Term SOFR Transition Event and its related Benchmark Replacement Date have occurred prior
to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark Replacement will replace
the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent
Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document;
provided that, this clause (d) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower a
Term SOFR Notice.

 

(e)  
In connection with the implementation of a Benchmark Replacement, the Administrative Agent
will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary
herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective
without any further action or consent of any other party to this Agreement or any other Loan Document.

 

(f)  
The Administrative Agent will promptly notify the Borrower and the Lenders of (i) any occurrence
of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement
Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes,
(iv) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (g) below and (v) the commencement or conclusion of
any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or, if applicable,
any Lender (or group of Lenders) pursuant to this Section 2.162.16(i),
including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance
or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error
and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document,
except, in each case, as expressly required pursuant to this Section 2.162.16(i).

 

(g)  
Notwithstanding anything to the contrary herein or in any other Loan Document, at any time
(including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including
Term SOFR or Adjusted LIBO Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service
that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory
supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any
tenor for such Benchmark is or will be no longer representative, then the Administrative Agent may modify the definition of “Interest
Period” for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor
that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark
(including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer be representative
for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of “Interest Period”
for all Benchmark settings at or after such time to reinstate such previously removed tenor.

 

(h)  
Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability
Period, the Borrower may revoke any request for a Eurodollar Borrowing of, conversion to or continuation of Eurodollar Loans to be made,
converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any
such request into a request for a Borrowing of or conversion to ABR Loans. During any Benchmark Unavailability

 

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Period
or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of ABR based upon the then-current
Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of ABR.

 

(ii)  SOFR
Loans

 

(a)  
Subject to clauses (b), (c), (d), (e) and (f) of this Section 2.16(ii), if, commencing
on and/or after the Amendment No. 5 Effective Date:

 

(i)  
the Administrative Agent determines (which determination shall be conclusive absent
manifest error) (A) prior to the commencement of any Interest Period for a Borrowing of Term Benchmark Loans, that adequate and reasonable
means do not exist for ascertaining the Adjusted Term SOFR Rate or the Term SOFR Rate (including because the Term SOFR Reference Rate
is not available or published on a current basis), for such Interest Period or (B) at any time, that adequate and reasonable means do
not exist for ascertaining the applicable Adjusted Daily Simple SOFR, Daily Simple SOFR; or

 

(ii)  
the Administrative Agent is advised by the Required Lenders that (A) prior to the
commencement of any Interest Period for a Term Benchmark Borrowing, the Adjusted Term SOFR Rate for such Interest Period will not adequately
and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing
for such Interest Period or (B) at any time, Adjusted Daily Simple SOFR will not adequately and fairly reflect the cost to such Lenders
(or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing;

 

then
the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone, telecopy or electronic mail as promptly
as practicable thereafter and, until (x) the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving
rise to such notice no longer exist with respect to the relevant SOFR Benchmark and (y) the Borrower delivers a new interest election
notice in accordance with the terms of Section 2.12 or a new Borrowing Request in accordance with the terms of Section 2.05, any such
interest election notice that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a
Term Benchmark Borrowing and any Borrowing Request that requests a Term Benchmark Borrowing shall instead be deemed to be an interest
election notice or a Borrowing Request, as applicable, for an ABR Borrowing; provided that if the circumstances giving rise
to such interest election notice affect only one Type of Borrowings, then all other Types of Borrowings shall be permitted. Furthermore,
if any Term Benchmark Loan is outstanding on the date of the Borrower’s receipt of the interest election notice from the Administrative
Agent referred to in this Section 2.16(ii)(a) with respect to an interest rate applicable to such Term Benchmark Loan, then until (x)
the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such interest election notice no
longer exist with respect to the relevant SOFR Benchmark and (y) the Borrower delivers a new interest election notice in accordance with
the terms of Section 2.12 or a new Borrowing Request in accordance with the terms of Section 2.05, any Term Benchmark Loan shall on the
last day of the Interest Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day), be converted
by the Administrative Agent to, and shall constitute an ABR Loan.

 

(b)  
Notwithstanding anything to the contrary herein or in any other Loan Document (and
any Swap Agreement shall be deemed not to be a “Loan Document” for purposes of this Section 2.16(ii), if a SOFR Benchmark
Transition Event and its related SOFR Benchmark Replacement Date have occurred prior to the SOFR Reference Time in respect of any setting
of the then-current SOFR Benchmark, then (x) if a SOFR Benchmark Replacement is determined in accordance with clause (1) of the definition
of “SOFR Benchmark Replacement” for such SOFR Benchmark Replacement Date, such SOFR Benchmark Replacement will replace such
SOFR Benchmark for all purposes hereunder and under any Loan Document in respect of such SOFR Benchmark setting and subsequent SOFR Benchmark
settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and
(y) if a SOFR Benchmark Replacement is determined in accordance with clause (2) of the definition of “SOFR Benchmark Replacement”
for such SOFR Benchmark Replacement Date, such 

 

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SOFR
Benchmark Replacement will replace such SOFR Benchmark for all purposes hereunder and under any Loan Document in respect of any SOFR
Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such SOFR Benchmark
Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or
any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such SOFR
Benchmark Replacement from Lenders comprising the Required Lenders of each affected Class.

 

(c)  
Notwithstanding anything to the contrary herein or in any other Loan Document, the
Administrative Agent will have the right to make SOFR Benchmark Replacement Conforming Changes from time to time and, notwithstanding
anything to the contrary herein or in any other Loan Document, any amendments implementing such SOFR Benchmark Replacement Conforming
Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

 

(d)  
The Administrative Agent will promptly notify the Borrower and the Lenders of (i)
any occurrence of a SOFR Benchmark Transition Event, (ii) the implementation of any SOFR Benchmark Replacement, (iii) the effectiveness
of any SOFR Benchmark Replacement Conforming Changes, (iv) the removal or reinstatement of any tenor of a SOFR Benchmark pursuant to
clause (f) below and (v) the commencement or conclusion of any SOFR Benchmark Unavailability Period. Any determination, decision or election
that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this ‎Section
2.16(ii), including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event,
circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent
manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other
Loan Document, except, in each case, as expressly required pursuant to this ‎ Section 2.16(ii).

 

(e)  
Notwithstanding anything to the contrary herein or in any other Loan Document, at
any time (including in connection with the implementation of a SOFR Benchmark Replacement), (i) if the then-current SOFR Benchmark is
a term rate (including the Term SOFR Rate) and either (A) any tenor for such SOFR Benchmark is not displayed on a screen or other information
service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory
supervisor for the administrator of such SOFR Benchmark has provided a public statement or publication of information announcing that
any tenor for such SOFR Benchmark is or will be no longer representative, then the Administrative Agent may modify the definition of
“Interest Period” for any SOFR Benchmark settings at or after such time to remove such unavailable or non-representative
tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information
service for a SOFR Benchmark (including a SOFR Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that
it is or will no longer be representative for a SOFR Benchmark (including a SOFR Benchmark Replacement), then the Administrative Agent
may modify the definition of “Interest Period” for all SOFR Benchmark settings at or after such time to reinstate such previously
removed tenor.

 

(f)  
Upon the Borrower’s receipt of notice of the commencement of a SOFR Benchmark
Unavailability Period, the Borrower may revoke any request for a Term Benchmark

 

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Borrowing
of, conversion to or continuation of Term Benchmark Loans to be made, converted or continued during any SOFR Benchmark Unavailability
Period and, failing that, the Borrower will be deemed to have converted any request for a Term Benchmark Borrowing into a request for
a Borrowing of or conversion to an ABR Borrowing. During any Benchmark Unavailability Period or at any time that a tenor for the then-current
Benchmark is not an SOFR Available Tenor, the component of ABR based upon the then-current SOFR Benchmark or such tenor for such SOFR
Benchmark, as applicable, will not be used in any determination of ABR. Furthermore, if any Term Benchmark Loan is outstanding on the
date of the Borrower’s receipt of notice of the commencement of a SOFR Benchmark Unavailability Period with respect to an interest
rate applicable to such Term Benchmark Loan, then until such time as a SOFR Benchmark Replacement is implemented pursuant to this Section
2.16(ii), any Term Benchmark Loan shall on the last day of the Interest Period applicable to such Loan (or the next succeeding Business
Day if such day is not a Business Day), be converted by the Administrative Agent to, and shall constitute an ABR Loan on such day.

 

2.17  
Pro Rata Treatment and Payments.

 

(a)  
Each borrowing by the Borrower from the Lenders hereunder, each payment by the Borrower on account of any Commitment Fee and any
reduction of the Commitments of the Lenders shall be made pro rata to the relevant Lenders of any Class according to the respective
Term Percentages, Incremental Term Percentages or Revolving Percentages, as the case may be, of the relevant Lenders of such Class.

 

(b)  
Each payment (including each voluntary or mandatory prepayment) on account of principal of and interest on any Class of the Term
Loans shall be made pro rata to the Term Lenders of such Class according to the respective Outstanding Amount of the Term Loans
then held by the Term Lenders of such Class. The amount of each optional prepayment of the Term Loans made pursuant to Section 2.10
shall be applied as directed by the Borrower in the notice described in Section 2.10 and, if no direction is given by
the Borrower, in the direct order of maturity and to the Term Loans of the Borrower on a pro rata basis. The amount of each mandatory
prepayment of the Term Loans pursuant to Section 2.11 shall be applied as directed by the Borrower in the notice described
in Section 2.11 and to the Term Loans of the Borrower on a pro-rata basis (other than in the case of Permitted Credit Agreement
Refinancing Debt, the proceeds of which shall be applied to the applicable Class on a pro rata basis) and, if no direction is
given by the Borrower, in the direct order of maturity. Each payment (including each prepayment) by the Borrower on account of principal
of and interest on the Revolving Loans shall be made pro rata to the Revolving Lenders according to the respective Outstanding
Amount of the Revolving Loans then held by the Revolving Lenders.

 

(c)  
All payments (including prepayments) to be made by the Borrower hereunder, whether on account of principal, interest, fees or
otherwise, shall be made without setoff or counterclaim and shall be made prior to 2:00 p.m. (New York City time) on the due date thereof
to the Administrative Agent at its offices at 270 Park Avenue, New York, New York 10017, for the account of the Lenders, in Dollars and
in immediately available funds. Any payments received after such time shall be deemed to be received on the next Business Day at the
Administrative Agent’s sole discretion. The Administrative Agent shall distribute such payments to the Lenders promptly upon receipt
in like funds as received.

 

(d)  
Unless the Administrative Agent shall have been notified in writing by any Lender prior to the time of any Borrowing that such
Lender will not make the amount that would constitute its share of such Borrowing available to the Administrative Agent, the Administrative
Agent may assume that such Lender is making such amount available to the Administrative Agent, and the Administrative Agent may, in reliance
upon such assumption, make available to the Borrower a corresponding amount. If such amount is not made available to the Administrative
Agent by the required

 

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time
on the Borrowing Date therefor (a “Funding Default”), such Lender shall pay to the Administrative Agent, on demand,
such amount with interest thereon, at a rate equal to the greater of (i) the Federal Funds Effective Rate and (ii) a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation, for the period until such Lender makes
such amount immediately available to the Administrative Agent. A certificate of the Administrative Agent submitted to any Lender with
respect to any amounts owing under this paragraph shall be conclusive in the absence of manifest error. If such Lender’s share
of such borrowing is not made available to the Administrative Agent by such Lender within three (3) Business Days after such Borrowing
Date, the Administrative Agent shall also be entitled to recover such amount with (without duplication of any such amounts ultimately
received from such Lender, and any interest thereon) interest thereon at the rate per annum applicable to ABR Loans under the relevant
Facility, on demand, from the Borrower. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment
or to prejudice any rights which the Administrative Agent or the Borrower may have against any Lender as a result of any default by such
Lender hereunder.

 

(e)  
Unless the Administrative Agent shall have been notified in writing by the Borrower prior to the date of any payment due to be
made by the Borrower hereunder that the Borrower will not make such payment to the Administrative Agent, the Administrative Agent may
assume that the Borrower are making such payment, and the Administrative Agent may, but shall not be required to, in reliance upon such
assumption, make available to the Lenders their respective pro rata shares of a corresponding amount. If such payment is not made
to the Administrative Agent by the Borrower within three (3) Business Days after such due date, the Administrative Agent shall be entitled
to recover, on demand, from each Lender to which any amount which was made available pursuant to the preceding sentence, such amount
with interest thereon at the rate per annum equal to the daily Federal Funds Effective Rate. Nothing herein shall be deemed to limit
the rights of the Administrative Agent or any Lender against the Borrower.

 

2.18  
Requirements of Law.

 

(a)  
Subject to clause (c) of this Section 2.18, if any Change in Law shall (i) subject any Lender to
any Tax with respect to this Agreement, any Letter of Credit, any Application or any Eurocurrency Loan or
Term Benchmark Loan made by it (except for any Indemnified Taxes or Excluded Taxes), (ii) impose, modify or hold applicable
any reserve, special deposit, compulsory loan or similar requirement against assets held by, deposits or other liabilities in or for
the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of such Lender that
is not otherwise included in the determination of the Eurocurrency Rate or Term
Benchmark Rate or (iii) impose on such Lender any other condition, and the result of any of the foregoing is to increase
the cost to such Lender by an amount that such Lender reasonably deems to be material, of making, converting into, continuing or maintaining
Eurocurrency Loans or Term Benchmark Loans or issuing or participating
in Letters of Credit, or to reduce any amount receivable hereunder in respect thereof, then, in any such case, the Borrower shall promptly
pay such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount
receivable. If any Lender becomes entitled to claim any additional amounts pursuant to this paragraph, it shall promptly notify the Borrower
(with a copy to the Administrative Agent) of the event by reason of which it has become so entitled.

 

(b)  
Subject to clause (c) of this Section 2.18, if any Lender shall have determined that compliance by such
Lender (or any corporation controlling such Lender) with any Change in Law regarding capital adequacy or liquidity shall have the effect
of reducing the rate of return on such Lender’s or such corporation’s capital as a consequence of its obligations hereunder
or under or in respect of any Loans or Letters of Credit to a level below that which such Lender or such corporation

 

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could
have achieved but for such Change in Law (taking into consideration such Lender’s or such corporation’s policies with respect
to capital adequacy or liquidity) by an amount reasonably deemed by such Lender to be material, then from time to time, after submission
by such Lender to the Borrower (with a copy to the Administrative Agent) of a written request therefor (setting forth in reasonable detail
the basis for calculating the additional amounts owed to such Lender under this Section 2.18(b)), the Borrower shall pay
to such Lender such additional amount or amounts as will compensate such Lender or such corporation for such reduction.

 

(c)  
Notwithstanding anything to the contrary in this Agreement (including clauses (a) and (b) above), reimbursement
pursuant to this Section 2.18 for (A) increased costs arising from any market disruption (i) shall be limited to
circumstances generally affecting the banking market and (ii) may only be requested by Lenders representing the Majority Facility
Lenders with respect to the applicable Facility and (B) increased costs because of any Change in Law resulting from clause (x)
or (y) of the proviso to the definition of “Change in Law” may only be requested by a Lender imposing such increased
costs on borrowers similarly situated to the Borrower under syndicated credit facilities comparable to those provided hereunder. A certificate
as to any additional amounts payable pursuant to this Section submitted by any Lender to the Borrower (with a copy to the Administrative
Agent) shall be conclusive in the absence of manifest error. The Borrower shall pay such Lender the additional amount shown as due on
any such certificate promptly after, and in any event within, ten (10) Business Days of, receipt thereof. Notwithstanding anything
to the contrary in this Section, the Borrower shall not be required to compensate a Lender pursuant to this Section for any amounts incurred
more than nine months prior to the date that such Lender notifies the Borrower of such Lender’s intention to claim compensation
therefor; provided that, if the circumstances giving rise to such claim have a retroactive effect, then such nine-month period
shall be extended to include the period of such retroactive effect. The obligations of the Borrower pursuant to this Section shall survive
the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder.

 

2.19  
Taxes.

 

(a)  
Payments Free of Taxes. All payments by or on account of any obligation of the Borrower
under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable
law, as determined in the good faith discretion of an applicable withholding agent, requires the deduction or withholding of any Tax
from any such payment by a withholding agent, the applicable withholding agent shall make such deduction or withholding and shall timely
pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law. If such Tax is an
Indemnified Tax, the sum payable by the Borrower shall be increased as necessary so that after such deduction or withholding has been
made (including such deductions and withholdings applicable to additional sums payable under this Section), the applicable Recipient
receives an amount equal to the sum it would have received had no such deduction or withholding been made.

 

(b)  
Payment of Other Taxes by Borrower. Without duplication of any obligation under Section
2.19(a), the Borrower shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option
of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

 

(c)  
Indemnification by Borrower. Without duplication of any obligation under Section
2.19(a) or (b), the Borrower shall indemnify each Recipient, within 10 days after written demand therefor, for the full amount
of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable
or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable and documented,

 

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out-of-pocket
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted
by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender
(with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive
absent manifest error. Such written demand shall be made no later than 180 days after the earlier of (1) the date on which the Administrative
Agent or the applicable Lender, as the case may be, received written demand for payment of the applicable Indemnified Taxes from the
relevant Governmental Authority or (2) the date on which the Administrative Agent or the applicable Lender, as the case may be, paid
the applicable Indemnified Taxes; provided that failure or delay on the part of the Administrative Agent or the applicable Lender,
as the case may be, to make such written demand shall not constitute a waiver of the right of the Administrative Agent or the applicable
Lender, as the case may be, to demand indemnity and reimbursement for such Indemnified Taxes, except to the extent that such failure
or delay results in prejudice to the Borrower.

 

(d)  
Evidence of Payments. As soon as practicable after any payment of Taxes by the Borrower
to a Governmental Authority pursuant to this Section, the Borrower shall deliver to the Administrative Agent the original or a certified
copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other
evidence of such payment reasonably satisfactory to the Administrative Agent.

 

(e)  
Status of Lenders.

 

(i)  
Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan
Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the
Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent
as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably
requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or
not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the
preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section
2.19 in clauses (e)(ii)(1), (e)(ii)(2), and (e)(ii)(4) below) shall not be required if in the Lender’s
reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or
would materially prejudice the legal or commercial position of such Lender.

 

(ii)  
Without limiting the generality of the foregoing:

 

(1)  
any Lender that is a “United States person” as defined in Section 7701(a)(30) of the Code shall deliver to the
Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time
to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying
that such Lender is exempt from U.S. federal backup withholding tax;

 

(2)  
 any Lender that is not a “United States person” as defined in Section 7701(a)(30) of the Code (a “Non-U.S.
Lender”) shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such

 

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Non-U.S.
Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), whichever of the following is applicable:

 

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

 

		(B)	executed
                                            copies of IRS Form W-8ECI;

 

		(C)	in the case
                                            of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under
                                            Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit K-1
                                            to the effect that such Non-U.S. Lender is not a “bank” within the meaning
                                            of Section 881(c)(3)(A) of the Code, a “10-percent shareholder” of the Borrower
                                            within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign
                                            corporation” related to the Borrower as described in Section 881(c)(3)(C) of the
                                            Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies
                                            of IRS Form W-8BEN or IRS Form W-8BEN-E; or

 

		(D)	to the extent
                                            a Non-U.S. Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied
                                            by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate
                                            substantially in the form of Exhibit K-2 or Exhibit K-3, IRS Form
                                            W-9, and/or other certification documents from each beneficial owner, as applicable; provided
                                            that if the Non-U.S. Lender is a partnership and one or more direct or indirect partners
                                            of such Non-U.S. Lender are claiming the portfolio interest exemption, such Non-U.S. Lender
                                            may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit K-4
                                            on behalf of each such direct and indirect partner;

 

(3)  
any Non-U.S. Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent
(in such number of copies as shall be requested by the recipient) on or prior to the date on which such Non-U.S.

 

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Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S.
federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit
the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and

 

(4)  
if a payment made to a Recipient under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if
such Recipient were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b)
or 1472(b) of the Code, as applicable), such Recipient shall deliver to the Borrower and the Administrative Agent at the time or times
prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with
their obligations under FATCA and to determine that such Recipient has complied with such Recipient’s obligations under FATCA or
to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this clause (4), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement.

 

Each
Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it
shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability
to do so. Notwithstanding any other provision of this Section 2.19, a Lender shall not be required to deliver any documentation
that such Lender is not legally eligible to deliver.

 

Each
Lender authorizes the Administrative Agent to deliver to the Loan Parties and to any successor Administrative Agent any documentation
provided by such Lender to the Administrative Agent pursuant to this Section 2.19.

 

(f)  
Status of Administrative Agent. Prior to the date it becomes the Administrative Agent
under this Agreement, the Administrative Agent shall deliver to the Borrower a duly completed IRS Form W-9 (or, in the case of a successor
Administrative Agent that is not organized in the United States, a duly executed IRS Form W-8ECI (with respect to any payments to be
received on its own behalf) and IRS Form W-8IMY (for all other payments)) with the effect that the Borrower may make payments to the
Administrative Agent, to the extent such payments are received by the Administrative Agent as an intermediary, without deduction or withholding
of any Taxes imposed by the United States (without regard to the beneficial owners of such payment).

 

(g)  
Refunds. If the Administrative Agent or any Lender determines, in its sole discretion
exercised in good faith, that it has received a refund (whether in the form of cash or as a credit against, or as a reduction of, a tax
liability) of any Taxes as to which it has been indemnified by the Loan Parties or with respect to which the Loan Parties have paid additional
amounts pursuant to this Section 2.19, it shall pay over such refund to the relevant Loan Party (but only to the extent of
indemnity payments made, or additional amounts paid, by the Loan Parties under this Section 2.19 with respect to the Taxes
giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender and without interest (other
than any interest paid by the relevant Governmental Authority with respect to such refund); provided that the relevant Loan Party,
upon the request of the

 

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Administrative
Agent or such Lender, agrees to repay the amount paid over to the Loan Parties (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such
Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 2.19(g),
in no event will the Administrative Agent or any Lender be required to pay any amount to the Loan Parties pursuant to this Section
2.19(g) the payment of which would place the Administrative Agent or such Lender in a less favorable net after-Tax position than
it would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise
imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This Section 2.19(g)
shall not be construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information
relating to its taxes which it deems confidential) to the Borrower or any other Person.

 

(h)  
The agreements in this Section shall survive the termination of this Agreement and the payment
of the Loans and all other amounts payable hereunder.

 

(i)  
For the avoidance of doubt, for purposes of this Section 2.19, the term Lender
shall include any Issuing Lender or Designated Acquisition Swingline Lender.

 

2.20  
[Reserved].

 

2.21  
Indemnity. The Borrower agree to indemnify each Lender for, and to hold each Lender
harmless from, any loss or expense that such Lender may sustain or incur as a direct consequence of (a) default by the Borrower
in making a borrowing of, conversion into or continuation of Eurocurrency Loans or
Term Benchmark Loans after the Borrower has given a notice requesting the same in accordance with the provisions of this Agreement,
(b) default by the Borrower in making any prepayment of or conversion from Eurocurrency Loans or
Term Benchmark Loans after the Borrower has given a notice thereof in accordance with the provisions of this Agreement, (c) the
conversion of any Eurocurrency Loan or Term Benchmark Loans prior
to the last day of the Interest Period thereof or (d) the making of a prepayment of Eurocurrency Loans
or Term Benchmark Loans on a day that is not the last day of an Interest Period with respect thereto. Such indemnification
shall not exceed an amount equal to the excess, if any, of (i) the amount of interest that would have accrued on the amount so prepaid
or converted, or not so borrowed, reduced, converted or continued, for the period from the date of such prepayment or of such failure
to borrow, reduce, convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, reduce, convert
or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest
or other return for such Loans provided for herein (excluding, however, the Applicable Margin included therein, if any) over (ii) the
amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such amount by placing such amount
on deposit for a comparable period with leading banks in the interbank eurocurrency market. A certificate as to any amounts payable pursuant
to this Section submitted to the Borrower by any Lender shall be conclusive in the absence of manifest error. This covenant shall survive
the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. Each Lender that has delivered
an executed Consent to Amendment No. 2 hereby waives any breakage loss or expense pursuant to this Section 2.21 in connection with the
repayment of the Existing Initial Term Loans on the Amendment No. 2 Effective Date.

 

2.22  
Change of Lending Office.

 

(a)  
Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Sections 2.18 or 2.19
with respect to such Lender, it will, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations
of such Lender) to designate another lending

 

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office
for any Loans affected by such event with the object of avoiding the consequences of such event; provided that such designation
is made on terms that, in the sole judgment of such Lender, cause such Lender and its lending office(s) to suffer no economic, legal
or regulatory disadvantage, and provided, further, that nothing in this Section shall affect or postpone any of the obligations
of the Borrower or the rights of any Lender pursuant to Sections 2.18 or 2.19.

 

(b)  
Subject to clause (a) above, and without prejudice to the rights and obligations (but subject to the terms and requirements)
in Section 2.19, the Borrower agrees that each Lender may, at its option, make any Loan available to the Borrower by causing
any foreign or domestic branch or Affiliate of such Lender to make such Loan, and that any exercise of such option shall not affect or
postpone any of the obligations of the Borrower or the rights of any Lender pursuant to this Agreement.

 

2.23  
Replacement of Lenders. The Borrower shall be permitted to replace any Lender (or
prepay the Loans of such Lender on a non-pro rata basis) (a) where a Loan Party is obligated to pay additional amounts or indemnity
payments under Section 2.19, (b) that requests reimbursement for amounts owing pursuant to Section 2.16 or Section 2.18,
(c) that becomes a Defaulting Lender or otherwise defaults in its obligation to make Loans hereunder or (d) that has not consented
to a proposed change, waiver, discharge or termination of the provisions of this Agreement as contemplated by Section 11.1 that
requires the consent of all Lenders or all Lenders under a particular Facility or each Lender affected thereby and which has been approved
by the Required Lenders or a majority (by aggregate principal amount) of such affected Lenders as provided in Section 11.1, in each
case, with a Lender or an Eligible Assignee; provided that (i) such replacement or repayment does not conflict with any Requirement
of Law, (ii) the replacement financial institution or other Eligible Assignee shall purchase (or the Borrower shall prepay) all
Loans and other amounts (or, in the case of clause (d) as it relates to provisions affecting a particular Facility, Loans or other
amounts owing under such Facility) owing to such replaced Lender on or prior to the date of replacement or repayment, (iii) the
Borrower shall be liable to such replaced Lender under Section 2.21 if any Eurocurrency  Loan or
Term Benchmark Loan owing to such replaced Lender shall be purchased or prepaid other than on the last day of the Interest
Period relating thereto, (iv) if applicable, the replacement financial institution or other Eligible Assignee, if not already a
Lender, shall be reasonably satisfactory to the Administrative Agent, (v) if applicable, the replaced Lender shall be deemed to
have made such replacement in accordance with the provisions of Section 11.6, (vi) until such time as such replacement or repayment
shall be consummated, the Borrower shall pay all additional amounts (if any) required pursuant to Sections 2.16, 2.18, 2.19(a)
or 2.19(c), as the case may be, and (vii) any such replacement or repayment shall not be deemed to be a waiver of any rights that
the Borrower, the Administrative Agent or any other Lender shall have against the replaced or repaid Lender. Upon any such assignment,
such replaced or repaid Lender shall no longer constitute a “Lender” for purposes hereof (or, in the case of clause (d)
as it relates to provisions affecting a particular Facility, a Lender under such Facility); provided that any rights of such replaced
or repaid Lender to indemnification hereunder shall survive as to such replaced or repaid Lender. Each Lender, the Administrative Agent
and the Borrower agrees that in connection with the replacement or repayment of a Lender and upon payment to such replaced or repaid
Lender of all amounts required to be paid under this Section 2.23, the Administrative Agent and the Borrower shall be authorized,
without the need for additional consent from such replaced Lender, to execute an Assignment and Assumption on behalf of such replaced
Lender, and any such Assignment and Assumption so executed by the Administrative Agent or the Borrower and, to the extent required under
Section 11.6, the Borrower, the Designated Acquisition Swingline Lender and each Issuing
Lender, shall be effective for purposes of this Section 2.23 and Section 11.6. Notwithstanding anything to the contrary in
this Section 2.23, in the event that a Lender which holds Loans or Commitments under more than one Facility does not agree to a
proposed amendment, supplement, modification, consent or waiver which requires the consent of all Lenders under a particular Facility,
the Borrower shall be permitted to replace or repay the non-consenting Lender

 

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with respect to the
affected Facility and may, but shall not be required to, replace or repay such Lender with respect to any unaffected Facilities.

 

2.24  
Notes. If so requested by any Lender by written notice to the Borrower (with a copy
to the Administrative Agent), the Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such
notice, to any Person who is an assignee of such Lender pursuant to Section 11.6) (promptly after the Borrower’s receipt of
such notice) a Note or Notes to evidence such Lender’s Loans.

 

2.25  
Incremental Credit Extensions.

 

Subject
to the terms of this Section 2.25:

 

(a)  
The Borrower may, at any time or from time to time after the Closing Date, by notice from the Borrower to the Administrative Agent
(whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders) and the Person appointed by the Borrower to
arrange an Incremental Facility (such Person (who (i) may be the Administrative Agent, if it so agrees, or (ii) any other Person
appointed by the Borrower after consultation with the Administrative Agent, the “Incremental Arranger”), request one
or more additional tranches of term loans and/or one or more increases to the amount of any Class of Term Loans then outstanding (including,
in each case, through the assumption or guarantee of BRP C Corp. Acquisition Indebtedness) (the commitments thereof, the “Incremental
Term Commitments”, the loans thereunder, the “Incremental Term Loans”, and a Lender making such loans, an
“Incremental Term Lender”) and/or one or more additional tranches of revolving loans (the “Additional/Replacement
Revolving Commitments”) and/or one or more increases in the amount of the Revolving Commitments of any Class (each such increase,
a “Revolving Commitment Increase”, the loans thereunder and under any Additional/Replacement Revolving Commitments,
the “Incremental Revolving Loans”, and a Lender making a commitment to provide such Incremental Revolving Loans, an
“Incremental Revolving Lender”); provided that:

 

(i)  
after giving effect to any such Additional/Replacement Revolving Commitments, any such Revolving Commitment Increase and any such
Incremental Term Loans, the aggregate amount of such Additional/Replacement Revolving Commitments, Revolving Commitment Increases and
Incremental Term Loans shall not exceed an amount equal to the sum of (x) the Ratio-Based Incremental Amount (any Incurrence under
this clause (x), a “Ratio-Based Incremental Facility”), plus (y) the Prepayment-Based Incremental
Amount (any Incurrence under this clause (y), a “Prepayment-Based Incremental Facility”), plus
(z) the Cash-Capped Incremental Amount (any Incurrence under this clause (z), a “Cash-Capped Incremental Facility”),
provided that, for the avoidance of doubt, the amount available to the Borrower pursuant to the Prepayment-Based Incremental Facility
and the Cash-Capped Incremental Facility shall be available at all times and shall not be subject to the ratio test in the Ratio-Based
Incremental Facility. Unless the Borrower elects otherwise, any Incremental Term Loans, Additional/Replacement Revolving Commitments
or Revolving Commitment Increase shall be deemed Incurred first under the Ratio-Based Incremental Facility, with the balance Incurred
next under the Prepayment-Based Incremental Facility and then under the Cash-Capped Incremental Facility. The Borrower
may designate any Incremental Arranger of any Incremental Facility with such titles under the Incremental Facility as Borrower may deem
appropriate;

 

(ii)  
as determined by the Borrower, (A) the Incremental Revolving Loans shall rank pari passu in right of payment and of security
and (B) the Incremental Term Loans shall rank pari passu in right of payment (or be subordinated if agreed by the Lenders providing
such Incremental Term Loans) and of security (or on a junior lien or unsecured basis, to the extent agreed by the Lenders

 

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providing
such Incremental Term Loans), and shall, if not pari passu in right of payment or security, be provided as a separate facility
and, if secured, be subject to an Intercreditor Agreement;

 

(iii)  
subject to the Permitted Earlier Maturity Indebtedness Exception, except in connection with a Qualifying Bridge Facility, the
Incremental Term Loans shall not mature earlier than the Term Loan Maturity Date and the Incremental Revolving Loans shall not mature
earlier than the Revolving Termination Date;

 

(iv)  
subject to the Permitted Earlier Maturity Indebtedness Exception, except in connection with a Qualifying Bridge Facility, the
Incremental Term Loans shall have a Weighted Average Life to Maturity no shorter than the Weighted Average Life to Maturity of the Term
Loans (without giving effect to any prepayments that would otherwise modify the Weighted Average Life to Maturity of the Term Loans);

 

(v)  
(x) the All-In Yield (and, in the case of any Incremental Term Loan, subject to clauses (iii) and (iv)
above, the amortization schedule) applicable to any such Incremental Term Loans or Additional/Replacement Revolving Commitments shall
be determined by the Borrower and the applicable Incremental Term Lenders or Incremental Revolving Lenders, as the case may be, and (y) any
such Additional/Replacement Revolving Commitments or Revolving Commitment Increase shall not have amortization or scheduled mandatory
commitment reductions prior to the Revolving Termination Date;

 

(vi)  
(A) the representations and warranties shall be true and correct in all material respects as of the applicable Incremental Facility
Closing Date (or, in connection with a Limited Condition Transaction, the Specified Representations shall be true and correct in all
material respects) and (B) no Default or Event of Default (or, in connection with a Limited Condition Transaction, no Default or Event
of Default under Section 9.1(a) or 9.1(g)) shall exist
on the Incremental Facility Closing Date with respect to any Incremental Amendment entered into in connection therewith (and after giving
effect to any Incremental Term Loans and/or Incremental Revolving Loans made thereunder);

 

(vii)  
with respect to any Incremental Term Loans (other than Incremental Term Loans which constitute MFN Excluded Loans) that are denominated
in Dollars that are secured on a pari passu basis with the Obligations and are made on or prior to the date that is twelve months
after the Closing Date, if the All-In Yield with respect to the Incremental Term Loans made thereunder paid by the Borrower (as determined
by the Borrower and the applicable Incremental Term Lenders) with respect to the Incremental Term Loans made thereunder exceeds the All-In
Yield paid by the Borrower with respect to the Term B-1 Loans that are denominated in the same currency as such Incremental Term Loans,
as the case may be, after giving effect to any increase or repricing thereof that has theretofore become effective (it being understood
that (i) if any such repricing was effected as a refinancing tranche, the OID applicable to the refinancing loans shall be taken into
account in lieu of the OID applicable to the Refinanced loans and (ii) such All-In Yield calculated immediate prior to the time of the
addition of such Incremental Term Loans), by more than 50 basis points (the amount of such excess above 50 basis points being
referred to herein as the “Incremental Yield Differential”), then, upon the effectiveness of such Incremental Amendment,
the Applicable Margin then in effect for such Term B-1 Loans denominated in the same currency shall automatically be increased by the
Incremental Yield Differential; provided, (1) if the Incremental Term Loans include an interest-rate floor greater than the
interest rate floor applicable to such Term B-1 Loans, the differential between such interest rate floors shall be equated to the interest
rate margins for purposes of determining whether an increase to the Applicable Margin shall be required, but only to the extent an increase
in the interest rate floor applicable to such Term B-1 Loans would cause an increase in the Applicable Margin, and in such case the interest
rate floor (but not the Applicable Margin) applicable to such Term B-1 Loans shall be increased to the extent

 

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of
such differential between interest rate floors and (2) any Incremental Term Loans that constitute fixed-rate Indebtedness shall be swapped
to a floating rate on a customary matched-maturity basis;

 

(viii)  
the Incremental Term Loans, Additional/Replacement Revolving Commitments and Revolving Commitment Increases may be denominated
in Dollars or any other Alternative Currency; and

 

(ix)  
no Incremental Term Loans, Additional/Replacement Revolving Commitments and Revolving Commitment Increases may be secured by any
assets other than the Collateral and no Incremental Term Loans and Revolving Commitment Increases shall be guaranteed by any person other
than the Loan Parties.

 

All
or any portion of Indebtedness originally designated as Incurred under the Cash-Capped Incremental Facility or the Prepayment-Based Incremental
Facility will automatically be reclassified as having been Incurred under the Ratio-Based Incremental Facility so long as, at the time
of such reclassification (without giving effect to any amounts previously Incurred under the Cash-Capped Incremental Facility or the
Prepayment-Based Incremental Facility that are not being reclassified), the Borrower would be permitted to Incur the aggregate principal
amount of Indebtedness being so reclassified under the Ratio-Based Incremental Facility (which, for the avoidance of doubt, shall have
the effect of increasing availability under the Cash-Capped Incremental Facility or Prepayment-Based Incremental Facility, as applicable,
by the amount of such reclassified Indebtedness).

 

(c)  
Incremental Term Loans may provide for the ability to participate on a pro rata, greater than pro rata or less than
pro rata basis in any voluntary prepayments of Term Loans or any mandatory prepayments of Term Loans with the proceeds of Other
Term Loans and on a pro rata or less than pro rata basis with any other prepayment of Term Loans (except for any permitted
amortization schedule, any earlier maturing debt, which in any event shall be permitted and any mandatory prepayment provisions for Escrowed
Proceeds). Additional/Replacement Revolving Commitments may participate in the payment, borrowing, participation and commitment reduction
provisions herein on a pro rata basis with any then outstanding Revolving Loans and Revolving Commitments, except that the Borrower
shall be permitted to permanently repay and terminate commitments of any such Class on a better than a pro rata basis as compared
to any other Class with a later maturity date than such Class. Incremental Revolving Lenders may agree to a less than pro rata
share of any prepayment Incremental Term Loans, Additional/Replacement Revolving Commitments and Revolving Commitment Increases may benefit
from the same Guarantees applicable to then outstanding Term Loans and Revolving Commitments. The Revolving Commitment Increases shall
be on the exact same terms and pursuant to the exact same documentation, be treated substantially the same as the Revolving Commitments
being increased, and shall be considered to be part of the Class of Revolving Facility being increased (it being understood that, if
required to consummate the provision of Revolving Commitment Increases, the pricing, interest rate margins, rate floors and commitment
fees on the Class of Revolving Commitments being increased may be increased and additional upfront or similar fees may be payable to
the lenders providing the Revolving Commitment Increase (without any requirement to pay such fees to any existing Revolving Lenders)).
Each notice from the Borrower to the Administrative Agent and the Incremental Arranger pursuant to Section 2.25(a) shall
set forth the requested amount and proposed terms of the relevant Incremental Term Loans, Additional/Replacement Revolving Commitments
or Revolving Commitment Increase.

 

(d)  
Incremental Term Loans may be made, and Additional/Replacement Revolving Commitments and Revolving Commitment Increases may be
provided, by any existing Lender or any Additional Lender (provided that no existing Lender shall be obligated to provide any
portion of any Incremental Facility), in each case on terms permitted in this Section 2.25, and, to the extent not

 

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permitted
in this Section 2.25, all terms and documentation with respect to any Incremental Term Loan, Additional/Replacement Revolving
Commitments or Revolving Commitment Increase shall be reasonably satisfactory to the Administrative Agent; provided that terms
that (i) are more restrictive on the Group Members, taken as a whole, than those with respect to the Term Loans and Revolving Commitments
made on the Closing Date (but excluding (1) any terms applicable after the Latest Maturity Date and (2) are more favorable to the
existing Lenders than the comparable terms in the existing Loan Documents, in which case such terms may be incorporated into this Agreement
(or any other applicable Loan Document) pursuant to an amendment executed by the Administrative Agent and the Borrower for the benefit
of all existing Lenders (to the extent applicable to such Lender) without further amendment or consent requirements) or (ii) relate
to provisions of a mechanical (including with respect to the Collateral and currency mechanics) or administrative nature, shall in each
case be reasonably satisfactory to the Administrative Agent; provided, that if a certificate of a Responsible Officer of the Borrower
shall have been delivered to the Administrative Agent for posting to the Lenders at least five (5) Business Days prior to the incurrence
of such Additional/Replacement Revolving Commitments, Revolving Commitment Increases and/or Incremental Term Loans, together with a reasonably
detailed description of the material covenants and events of default of such Indebtedness or drafts of the documentation relating thereto,
stating that the Borrower has determined in good faith that such terms and conditions satisfy the requirement of this clause (i) or (ii)
and the Required Lenders shall not have notified the Borrower and the Administrative Agent that they disagree with such determination
(including a statement of the basis upon which each such Lender disagrees) within such five (5) Business Day period, then such certificate
shall be conclusive evidence that such material covenants and events of default satisfy such requirement; provided, further,
that (A) (x) the Administrative Agent shall have consented (such consent not to be unreasonably withheld, conditioned or delayed)
to such Lender’s making such Additional/Replacement Revolving Commitments or Revolving Commitment Increases if such consent would
be required under Section 11.6(b) for an assignment of Loans or Revolving Commitments, as applicable, to such Lender or Additional
Lender and each Issuing Lender and Designated Acquisition Swingline Lender shall have consented (such consent not to be unreasonably
withheld, conditioned or delayed) to such Lender’s making such Additional/Replacement Revolving Commitments or Revolving Commitment
Increases and (B) the Administrative Agent shall not be required to execute, accept or acknowledge any Incremental Amendment (as
defined below) or related documentation which contains (by express language or omission) any material deviation from the terms of this
Section 2.25 (as determined in the Administrative Agent’s reasonable discretion). Commitments in respect of Incremental
Term Loans, Additional/Replacement Revolving Commitments and Revolving Commitment Increases shall become Commitments (or in the case
of a Revolving Commitment Increase to be provided by an existing Revolving Lender, an increase in such Lender’s applicable Revolving
Commitment) under this Agreement pursuant to an amendment (an “Incremental Amendment”) to this Agreement and, as appropriate,
the other Loan Documents, executed by the Borrower, the Administrative Agent and each Lender agreeing to provide such Commitment, if
any, and each Additional Lender, if any. The Incremental Amendment may, without the consent of any other Lenders, effect such amendments
to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent,
the Incremental Arranger and the Borrower, to effect the provisions of this Section 2.25 (including any amendments that are not
adverse to the interests of any Lender that are made to effectuate changes necessary to enable any Incremental Term Loans that are intended
to be fungible with an existing Class of Term Loans to be fungible with such Term Loans, which shall include any amendments to Section 2.3
that do not reduce the ratable amortization received by each Lender thereunder). The effectiveness of any Incremental Amendment and
the occurrence of any credit event (including the making (but not the conversion or continuation) of a Loan and the issuance, increase
in the amount, or extension of a Letter of Credit thereunder) pursuant to such Incremental Amendment shall be subject to the satisfaction
of such conditions as the parties thereto shall agree (the effective date of any such Incremental Amendment, an “Incremental
Facility Closing Date”)). The Borrower will use the proceeds of the Incremental Term Loans, Additional/Replacement Revolving
Commitments and

 

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Revolving
Commitment Increases for any purpose not prohibited by this Agreement. No Lender shall be obligated to provide any Incremental Term Loans,
Additional/Replacement Revolving Commitments or Revolving Commitment Increases, unless it so agrees.

 

(e)  
Upon each Revolving Commitment Increase pursuant to this Section 2.25, each Revolving Lender immediately prior to such
increase will automatically and without further act be deemed to have assigned to each Lender providing a portion of the Revolving Commitment
Increase (each a “Revolving Commitment Increase Lender”) in respect of such increase, and each such Revolving Commitment
Increase Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Lender’s participations
hereunder in outstanding Letters of Credit and Designated Acquisition Swingline Loans such that, after giving effect to each such deemed
assignment and assumption of participations, the percentage of the aggregate outstanding (i) participations hereunder in Letters of Credit
and (ii) participations hereunder in Designated Acquisition Swingline Loans held by each Revolving Lender (including each such Revolving
Commitment Increase Lender) will equal the percentage of the aggregate Revolving Commitments of all Revolving Lenders represented by
such Revolving Lender’s Revolving Commitment and if, on the date of such increase, there are any Revolving Loans outstanding, such
Revolving Loans shall on or prior to the effectiveness of such Revolving Commitment Increase either be prepaid from the proceeds of additional
Revolving Loans made hereunder or assigned to a Revolving Commitment Increase Lender (in each case, reflecting such increase in Revolving
Commitments, such that Revolving Loans are held ratably in accordance with each Revolving Lender’s Pro Rata Share, after giving
effect to such increase), which prepayment or assignment shall be accompanied by accrued interest on the Revolving Loans being prepaid
and any costs incurred by any Lender in accordance with Section 2.21 (it being understood that the foregoing provisions shall
apply only to an increase in the amount of the Revolving Commitments of any Class and not to any additional tranches of Revolving Loans).
The Administrative Agent and the Lenders hereby agree that the minimum borrowing, pro rata borrowing and pro rata payment
requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to the immediately preceding
sentence. For the avoidance of doubt, this Section 2.25(d) shall apply only to such Class of Revolving Commitments that are
the same Class as the Incremental Revolving Loans and shall not apply to any other Class of Revolving Loans.

 

(f)  
Notwithstanding anything to the contrary herein, this Section 2.25 shall supersede any provisions in Sections 2.17
or 11.1 to the contrary and Section 2.17 shall be deemed to be amended to implement any Incremental Amendment.

 

(g)  
If the Incremental Arranger is not the Administrative Agent, the actions authorized to be taken by the Incremental Arranger herein
shall be done in consultation with the Administrative Agent and, with respect to the preparation of any documentation necessary or appropriate
to carry out the provisions of this Section 2.25 (including amendments to this Agreement and the other Loan Documents), any
comments to such documentation reasonably requested by the Administrative Agent shall be reflected therein.

 

2.26  
Refinancing Amendments.

 

(a)  
At any time after the Closing Date, the Borrower may obtain, from any Lender or any Additional Lender, Permitted Credit Agreement
Refinancing Debt in respect of (1) all or any portion of the Term Loans then outstanding under this Agreement (which for purposes
of this clause (1) will be deemed to include any then outstanding Other Term Loans) or (2) all or any portion of the
Revolving Loans (or unused Revolving Commitments) under this Agreement (which for purposes of this clause (2) will be deemed
to include any then outstanding Other Revolving Loans and Other Revolving Commitments), in the form of (x) Other Term Loans or Other
Term Commitments or (y) Other

 

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Revolving
Loans or Other Revolving Commitments, as the case may be, in each case pursuant to a Refinancing Amendment; provided that such
Permitted Credit Agreement Refinancing Debt:

 

(i)  
shall not be permitted to rank senior in right of payment or security to the Loans and Commitments hereunder;

 

(ii)  
will have such pricing, fees and amortization (subject to clause (iii) below), call protection and prepayment premiums as may
be agreed by the Borrower and the Lenders thereof;

 

(iii)  
(x) with respect to any Other Revolving Loans or Other Revolving Commitments, will have a maturity date that is not prior
to the maturity date of Revolving Loans (or unused Revolving Commitments) being Refinanced and (y) subject to the Permitted Earlier
Maturity Indebtedness Exception, with respect to any Other Term Loans or Other Term Commitments, will have a maturity date that is not
prior to the maturity date of, and will have a Weighted Average Life to Maturity that is not shorter than, the Term Loans being Refinanced;

 

(iv)  
Other than with respect to (A) clause (ii) above, (B) covenants and other provisions applicable only to periods after the
Latest Maturity Date that is in effect and (C) optional prepayment and redemption terms and, in each case, subject to the proviso below,
will have terms and conditions that are either (x) consistent with, or, taken as a whole, less favorable to the Lenders or Additional
Lenders providing such Permitted Credit Agreement Refinancing Debt than the Refinanced Debt or (y) or approved by the Administrative
Agent in its reasonable discretion;

 

(v)  
the proceeds of such Permitted Credit Agreement Refinancing Debt shall be applied, substantially concurrently with the Incurrence
thereof, to the prepayment of outstanding Term Loans or reduction of Revolving Commitments being so Refinanced (and repayment of Revolving
Loans outstanding thereunder); and

 

(vi)  
shall not be secured by any assets other than the Collateral, shall not be guaranteed by any person other than the Guarantors;

 

provided,
further, that the terms and conditions applicable to such Permitted Credit Agreement Refinancing Debt may provide for any additional
or different financial or other covenants or other provisions that are agreed between the Borrower and the Lenders thereof and applicable
only during periods after the Latest Maturity Date that is in effect on the date such Permitted Credit Agreement Refinancing Debt is
issued, Incurred or obtained or added to the Loan Documents for the benefit of the applicable Lenders pursuant to a Refinancing Amendment;
provided, further that if a certificate of a Responsible Officer shall have been delivered to the Administrative Agent
for posting to the Lenders at least five (5) Business Days prior to the incurrence of such Permitted Credit Agreement Refinancing Debt,
together with a reasonably detailed description of the material terms and conditions of such Permitted Credit Agreement Refinancing Debt
or drafts of the documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions
satisfy the requirements of this Section 2.26(a), and the Required Lenders shall not have notified the Borrower and the Administrative
Agent that they disagree with such determination (including a statement of the basis upon which each such Lender disagrees) within such
five (5) Business Day period, then such certificate shall be conclusive evidence that such terms and conditions satisfy the requirements
of this Section 2.26(a). The effectiveness of any Refinancing Amendment shall be subject to the satisfaction on the date thereof
of (i) to the extent reasonably requested by the Administrative Agent, receipt by the Administrative Agent of board resolutions, officers’
certificates and/or reaffirmation agreements consistent with those delivered on the Closing Date and (ii) such conditions as the Borrower
and providers of said Permitted Credit

 

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Agreement Refinancing
Debt shall agree. Any Refinancing Amendment may provide for the issuance of Letters of Credit for the account of the Borrower or any
Restricted Subsidiary, pursuant to any Other Revolving Commitments established thereby, in each case on terms substantially equivalent
to the terms applicable to Letters of Credit under the Revolving Commitments subject to the approval of the Issuing Lenders.

 

(c)  
The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Refinancing Amendment. Each of the
parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the
extent (but only to the extent) necessary to reflect the existence and terms of the Permitted Credit Agreement Refinancing Debt Incurred
pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Other Term Loans, Other Revolving
Loans, Other Revolving Commitments and/or Other Term Commitments).

 

(d)  
Any Refinancing Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other
Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent, the Refinancing Arranger and
the Borrower, to effect the provisions of this Section 2.26. In addition, if so provided in the relevant Refinancing Amendment
and with the consent of each Issuing Lender, participations in Letters of Credit expiring on or after the Revolving Termination Date
shall be reallocated from Lenders holding Revolving Commitments to Lenders holding Extended Revolving Commitments in accordance with
the terms of such Refinancing Amendment; provided, however, that such participation interests shall, upon receipt thereof
by the relevant Lenders holding revolving commitments, be deemed to be participation interests in respect of such revolving commitments
and the terms of such participation interests (including the commission applicable thereto) shall be adjusted accordingly.

 

(e)  
Notwithstanding anything to the contrary in this Agreement, this Section 2.26 shall supersede any provisions in Sections
2.17 or 11.1 to the contrary and the Borrower and the Administrative Agent may amend Section 2.17 to implement
any Refinancing Amendment.

 

(f)  
If the Refinancing Arranger is not the Administrative Agent, the actions authorized to be taken by the Incremental Arranger herein
shall be done in consultation with the Refinancing Arranger and, with respect to the preparation of any documentation necessary or appropriate
to carry out the provisions of this Section 2.26 (including amendments to this Agreement and the other Loan Documents), any
comments to such documentation reasonably requested by the Administrative Agent shall be reflected therein.

 

2.27  
Defaulting Lenders.

 

(a)  
Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender,
then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable law:

 

(i)  
Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent
with respect to this Agreement shall be restricted as provided for in the definitions of “Required Lenders”, “Majority
Revolving Lenders” and “Majority Term Lenders” and otherwise as set forth in Section 11.1.

 

(ii)  
Reallocation of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent
for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 9 or otherwise,
and including any amounts made

 

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available
to the Administrative Agent by such Defaulting Lender pursuant to Section 11.8), shall be applied at such time or times as
may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender
to the Administrative Agent hereunder; second, in the case of a Revolving Lender, to the payment on a pro rata basis of
any amounts owing by such Defaulting Lender to the Issuing Lenders and the Designated Acquisition Swingline Lender hereunder; third,
as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fourth,
in the case of a Revolving Lender, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing
deposit account and released in order to satisfy obligations of such Defaulting Lender to fund Loans under this Agreement; fifth,
to the payment of any amounts owing to the Lenders, the Issuing Lenders or the Designated Acquisition Swingline Lender as a result of
any judgment of a court of competent jurisdiction obtained by any Lender, such Issuing Lender or the Designated Acquisition Swingline
Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; sixth,
so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of
a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s
breach of its obligations under this Agreement; and seventh, to such Defaulting Lender or as otherwise directed by a court of
competent jurisdiction; provided that if such payment is a payment of the principal amount of any Loans or L/C Advances and such
Lender is a Defaulting Lender under clause (a) of the definition thereof, such payment shall be applied solely to pay the
relevant Loans of, and L/C Advances owed to, the relevant non-Defaulting Lenders on a pro rata basis prior to being applied pursuant
to Section 3.2(b). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or
held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to Section 3.2(b) shall be deemed paid
to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

(iii)  
Certain Fees. Such Defaulting Lender shall not be entitled to receive or accrue Letter of Credit fees or any commitment
fee pursuant to Section 2.8(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not
be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting Lender).

 

(iv)  
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender,
for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, Refinance or fund participations in
Designated Acquisition Swingline Loans and Letters of Credit pursuant to Sections 2.7 and 3.4, respectively, the “Pro
Rata Share” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of such Defaulting
Lender; provided that the aggregate obligation of each non-Defaulting Lender to acquire, Refinance or fund participations in Letters
of Credit and Designated Acquisition Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment
of such non-Defaulting Lender minus (2) the aggregate principal amount of the Revolving Loans of such Lender. In the event
non-Defaulting Lenders’ obligations to acquire, Refinance or fund participations in Letters of Credit are increased as a result
of a Defaulting Lender, then all Letter of Credit fees that would have been paid to such Defaulting Lender shall be paid to such non-Defaulting
Lenders ratably in accordance with such increase of such non-Defaulting Lender’s obligations to acquire, Refinance or fund participations
in Letters of Credit. Subject to Section 11.16, no reallocation hereunder shall constitute a waiver or release of any claim of
any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a
non-Defaulting Lender as a result of such non-Defaulting Lender’s increased exposure following such reallocation.

 

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(b)  
Defaulting Lender Cure. If the Borrower, the Administrative Agent, the Designated Acquisition Swingline Lender and each
Issuing Lender agree in writing that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent
will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth
therein (which may include arrangements with respect to any cash collateral), such Lender will, to the extent applicable, purchase that
portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary
to cause the Loans and funded and unfunded participations in Letters of Credit and Designated Acquisition Swingline Loans to be held
on a pro rata basis by the Lenders in accordance with their Pro Rata Share (without giving effect to Section 2.27(a)(iv)),
whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect
to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender; and provided, further,
that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.16, no change hereunder
from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s
having been a Defaulting Lender.

 

(c)  
No Release. Subject to Section 11.16, the provisions hereof attributable to Defaulting Lenders shall not release
or excuse any Defaulting Lender from failure to perform its obligations hereunder.

 

2.28  
Loan Modification Offers.

 

(a)  
The Borrower may, on one or more occasions, by written notice from the Borrower to the Administrative Agent, make one or more
offers (each, a “Loan Modification Offer”) to all the Lenders of one or more Classes on the same terms to each such
Lender (each Class subject to such a Loan Modification Offer, a “Specified Class”) to make one or more Permitted Amendments
pursuant to procedures reasonably specified by any Person that is not an Affiliate of the Borrower appointed by the Borrower, after consultation
(and, with respect to any documentation requiring execution of the Administrative Agent in its capacity as such, with the consent of
the Administrative Agent) with the Administrative Agent, as agent under such Loan Modification Agreement (as defined below) (such Person
(who may be the Administrative Agent, if it so agrees), the “Loan Modification Agent”) and reasonably acceptable to
the Borrower and the Administrative Agent; provided that (i) any such offer shall be made by the Borrower to all Lenders
with Loans with a like maturity date (whether under one or more tranches) on a pro rata basis (based on the aggregate Outstanding
Amount of the applicable Loans), (ii) no Default or Event of Default shall have occurred and be continuing at the time of any such
offer, (iii) any applicable Minimum Extension Condition shall be satisfied unless waived by the Borrower and (iv) in the case
of any Permitted Amendment relating to the Revolving Commitments, each Issuing Lender and the Designated Acquisition Swingline Lender
shall have approved such Permitted Amendment. Such notice shall set forth (i) the terms and conditions of the requested Permitted
Amendment and (ii) the date on which such Permitted Amendment is requested to become effective (which shall not be less than five
(5) Business Days nor more than 45 Business Days after the date of such notice, unless otherwise agreed to by the Loan Modification
Agent); provided that, notwithstanding anything to the contrary, assignments and participations of Specified Classes shall be
governed by the same or, at the Borrower’s discretion, more restrictive assignment and participation provisions than those set
forth in Section 11.6. Permitted Amendments shall become effective only with respect to the Loans and Commitments of the
Lenders of the Specified Class that accept the applicable Loan Modification Offer (such Lenders, the “Accepting Lenders”)
and, in the case of any Accepting Lender, only with respect to such Lender’s Loans and Commitments of such Specified Class as to
which such Lender’s acceptance has been made. No Lender shall have any obligation to accept any Loan Modification Offer.

 

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(b)  
A Permitted Amendment shall be effected pursuant to an amendment to this Agreement (a “Loan Modification Agreement”)
executed and delivered by the Borrower, the Administrative Agent, each applicable Accepting Lender and the Loan Modification Agent. The
Loan Modification Agent shall promptly notify each Lender as to the effectiveness of each Loan Modification Agreement. Each Loan Modification
Agreement may, without the consent of any Lender other than the applicable Accepting Lenders, effect such amendments to this Agreement
and the other Loan Documents as may be necessary or appropriate, in the opinion of the Loan Modification Agent and the Borrower, to give
effect to the provisions of this Section 2.28, including any amendments necessary to treat the applicable Loans and/or Commitments
of the Accepting Lenders as a new “Class” of loans and/or commitments hereunder; provided that (x) no Loan Modification
Agreement may provide for (i) any Specified Class to be secured by any Collateral or other assets of any Group Member that does
not also secure the Loans and (ii) so long as any Loans are outstanding, any mandatory or voluntary prepayment provisions that do
not also apply to the Loans on a pro rata basis or greater than pro rata basis (or, with respect to voluntary prepayments and
prepayments made with proceeds of Permitted Credit Agreement Refinancing Debt, on a pro rata basis, less than pro rata basis or greater
than pro rata basis), (y) in the case of any Loan Modification Offer relating to Revolving Commitments or Revolving Loans, except
as otherwise agreed to by each Issuing Lender, (i) the allocation of the participation exposure with respect to any then-existing
or subsequently issued Letter of Credit as between the commitments of such new “Class” and the remaining Revolving Commitments
shall be made on a ratable basis as between the commitments of such new “Class” and the remaining Revolving Commitments and
(ii) the Revolving Termination Date may not be extended without the prior written consent of each Issuing Lender and (z) the
terms and conditions of the applicable Loans and/or Commitments of the Accepting Lenders (excluding pricing, fees, rate floors and optional
prepayment or redemption terms) shall be substantially identical to, or (taken as a whole) shall be no more favorable to, the Accepting
Lenders than those applicable to the Specified Class (except for (1) financial covenants or other covenants or provisions applicable
only to periods after the Latest Maturity Date at the time of such Loan Modification Offer, as may be agreed by the Borrower and the
Accepting Lenders, (2) customary market terms at the time of Incurrence (as determined by the Borrower in good faith) or approved
by the Administrative Agent in its reasonable discretion, (3) any terms that are conformed (or added) to the Loan Documents for
the benefit of the lenders of the Specified Class pursuant to such Loan Modification Agreement and (4) pricing, premiums and fees);
provided that if a certificate of a Responsible Officer shall have been delivered to the Administrative Agent for posting to the
Lenders at least five (5) Business Days prior to the effectiveness of such Loan Modification Agreement, together with a reasonably detailed
description of the material terms and conditions thereof or drafts of the documentation relating thereto, stating that the Borrower has
determined in good faith that such terms and conditions satisfy the requirements of this Section 2.28(b), and the Required Lenders
shall not have notified the Borrower and the Administrative Agent that they disagree with such determination (including a statement of
the basis upon which each such Lender disagrees) within such five (5) Business Day period, then such certificate shall be conclusive
evidence that such terms and conditions satisfy the requirements of this Section 2.28(b).

 

(c)  
Subject to Section 2.28(b), the Borrower may at its election specify as a condition (a “Minimum Extension
Condition”) to consummating any such Loan Modification Agreement that a minimum amount (to be determined and specified in the
relevant Loan Modification Offer in the Borrower’s sole discretion and may be waived by the Borrower) of Loans of any or all applicable
Classes be extended.

 

(d)  
Notwithstanding anything to the contrary in this Agreement, this Section 2.28 shall supersede any provisions in Sections
2.17 or 11.1 to the contrary and the Borrower and the Administrative Agent may amend Section 2.17 to implement
any Loan Modification Agreement.

 

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(e)  
If the Loan Modification Agent is not the Administrative Agent, the actions authorized to be taken by the Loan Modification Agent
herein shall be done in consultation with the Administrative Agent and, with respect to the preparation of any documentation necessary
or appropriate to carry out the provisions of this Section 2.28 (including amendments to this Agreement and the other Loan
Documents), any comments to such documentation reasonably requested by the Administrative Agent shall be reflected therein.

 

SECTION
3.

LETTERS OF CREDIT

 

3.1  
L/C Commitment.

 

(a)  
Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders
set forth in Section 3.4(a), agrees to issue standby letters of credit and, to the extent agreed to by an Issuing Lender,
bank guarantees and commercial letters of credit providing for the payment of cash upon the honoring of a presentation thereunder (collectively,
“Letters of Credit”) for the account of the Borrower or the account of any of the Restricted Subsidiaries (provided
that a Borrower shall be an applicant, shall be the primary obligor thereunder, and be fully and unconditionally liable, with respect
to each Letter of Credit issued for the account of a Restricted Subsidiary that is not a Borrower) on any Business Day prior to the date
that is 30 days prior to the Revolving Termination Date in such form as may be approved from time to time by the applicable Issuing
Lender; provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such
issuance, (i) the L/C Obligations would exceed the L/C Commitment, (ii) the aggregate amount of the Available Revolving Commitments
would be less than zero or (iii) the L/C Obligation of such Issuing Lender would exceed its L/C Sublimit. Each Letter of Credit
shall (i) be denominated in Dollars or any Alternative Currency, (ii) have a stated amount acceptable to the relevant Issuing
Lender, (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance or such longer period as
is reasonably acceptable to the Issuing Lender, and (y) the date that is five (5) Business Days prior to the Revolving Termination
Date or such longer period as is reasonably acceptable to the Issuing Lender, provided that any Letter of Credit with the consent
of the applicable Issuing Lender may provide for the renewal or extension thereof for additional one-year periods (which shall in no
event extend beyond the date referred to in clause (y) above, except to the extent the L/C Obligations under such Letter
of Credit have been Cash Collateralized); provided, further, that the Issuing Lenders shall not renew or extend any such
Letter of Credit if it has received written notice (or otherwise has knowledge) that an Event of Default has occurred and is continuing
or any of the conditions set forth in Section 5.2 are not satisfied prior to the date of the decision to renew or extend
such Letter of Credit and (iv) be otherwise reasonably acceptable in all respects to the Issuing Lenders. Unless otherwise directed
by the Issuing Lenders, the Borrower shall not be required to make a specific request to an Issuing Lender for any such extension. Once
any Letter of Credit has been issued that may be extended automatically pursuant to the foregoing, the Revolving Lenders shall be deemed
to have authorized (but may not require) the Issuing Lenders to permit the extension of such Letter of Credit, including to the date
that is five (5)) Business Days prior to the Revolving Termination Date.

 

(b)  
The Issuing Lenders shall not at any time be obligated to issue any Letter of Credit (i) if such issuance would conflict
with, or cause the Issuing Lenders or any L/C Participant to exceed any limits imposed by, any applicable Requirement of Law, (ii) if
any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the Issuing
Lenders from issuing such Letter of Credit, or any Requirement of Law applicable to the Issuing Lender or any request or directive (whether
or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Lenders shall prohibit, or request
that the Issuing Lenders refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose
upon the

 

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Issuing
Lenders with respect to such Letter of Credit any restriction, reserve or capital requirement (for which an Issuing Lender is not otherwise
compensated hereunder) not in effect on the Closing Date, or shall impose upon each Issuing Lender any unreimbursed loss, cost or expense
which was not applicable on the Closing Date and which each Issuing Lender in good faith deems material to it or (iii) as otherwise
provided in Section 3.2(b) below.

 

3.2  
Procedure for Issuance of Letter of Credit.

 

(a)  
The Borrower may from time to time on any Business Day occurring from (or, in the case of any Letter of Credit permitted to be
issued on the Closing Date, prior to) the Closing Date until the Revolving Termination Date request that an Issuing Lender issue a Letter
of Credit by delivering to the relevant Issuing Lender, with a copy to the Administrative Agent, at its address for notices specified
herein an Application therefor, completed to the satisfaction of such Issuing Lender, and such other certificates, documents and other
papers and information as such Issuing Lender may request. Promptly upon receipt of any Application, the relevant Issuing Lender will
confirm with the Administrative Agent that the Administrative Agent has received a copy of the Application, and if not, will furnish
the Administrative Agent with a copy thereof. Unless such Issuing Lender has received written notice from the Administrative Agent or
the Borrower, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that
one or more of the conditions contained in Section 5 shall not then be satisfied, then, subject to the terms and conditions
hereof, such Issuing Lender will process such Application and the certificates, documents and other papers and information delivered
to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby
(but in no event shall any Issuing Lender be required to issue any Letter of Credit (a) earlier than (i) three (3) Business
Days, in the case of standby Letters of Credit or similar agreements or (ii) to the extent an Issuing Lender agrees to issue bank
guarantees or commercial Letters of Credit, or similar agreements, such period of time as is acceptable to such Issuing Lender, or (b) later
than ten (10) Business Days (or in each case such shorter period as may be agreed to by an Issuing Lender in any particular instance)
after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto)
by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the Issuing Lenders and
the Borrower. Each Issuing Lender shall furnish a copy of such Letter of Credit to the Borrower and the Administrative Agent promptly
following the issuance thereof. The Administrative Agent shall promptly furnish notice of the issuance of each Letter of Credit (including
the amount thereof) to the Revolving Lenders.

 

(b)  
Cash Collateral. (i) If an Issuing Lender has honored any full or partial drawing request under any Letter of Credit
and such drawing has resulted in an L/C Borrowing and the conditions set forth in Section 5.2 to a Revolving Borrowing cannot
then be met, (ii) if, as of the Letter of Credit Expiration Date, any Letter of Credit may for any reason remain outstanding and
partially or wholly undrawn, (iii) if any Event of Default occurs and is continuing and the Administrative Agent or the Required
Lenders, as applicable, require the Borrower to Cash Collateralize the L/C Obligations pursuant to Section 9.2 or (iv) an
Event of Default set forth under Section 9.1(g) occurs and is continuing, then the Borrower shall Cash Collateralize the
then Outstanding Amount of all L/C Obligations (in an amount equal to 102% of such Outstanding Amount determined as of the date of such
L/C Borrowing or the Letter of Credit Expiration Date, as the case may be), and shall do so not later than 2:00 p.m. (New York City
time) on (x) in the case of the immediately preceding clauses (i) through (iii), (1) if the Borrower receives
notice thereof prior to 11:00 a.m. (New York City time), on any Business Day, on the Business Day immediately following receipt of such
notice or (2) if the Borrower receives notice thereof after 11:00 a.m. (New York City time), on any Business Day, on the second
Business Day immediately following receipt of such notice (y) in the case of the immediately preceding clause (iv),
the Business Day on which an Event of Default set forth under Section 9.1(g) occurs or, if such day is not a Business

 

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Day,
the Business Day immediately succeeding such day. At any time that there shall exist a Defaulting Lender, if any Defaulting Lender Fronting
Exposure remains outstanding (after giving effect to Section 2.27(a)(iv)), then promptly upon the request of the Administrative
Agent or each Issuing Lender, the Borrower shall Cash Collateralize the Defaulting Lender Fronting Exposure and deliver to the Administrative
Agent Cash Collateral in an amount sufficient to cover such Defaulting Lender Fronting Exposure (after giving effect to any Cash Collateral
provided by the Defaulting Lender); provided that if any Defaulting Lender Fronting Exposure is not Cash Collateralized in accordance
with the foregoing to the reasonable satisfaction of the Issuing Lenders, the Issuing Lenders shall have no obligation to issue new Letters
of Credit or to extend, renew or amend existing Letters of Credit to the extent Letter of Credit exposure would exceed the commitments
of the non-Defaulting Lenders. For purposes hereof, “Cash Collateralize” means to pledge and deposit with or deliver
to the Administrative Agent, for the benefit of the relevant Issuing Lender and the Lenders, as collateral for the L/C Obligations, Cash
Collateral pursuant to documentation in form and substance reasonably satisfactory to the relevant Issuing Lender (which documents are
hereby consented to by the Lenders). Derivatives of such term have corresponding meanings. The Borrower hereby grant to the Administrative
Agent, for the benefit of the Issuing Lenders and the Lenders, a security interest in all such cash, deposit accounts and all balances
therein and all proceeds of the foregoing. Cash Collateral shall be maintained in a Cash Collateral Account and may be invested in readily
available Cash Equivalents. If at any time the Administrative Agent reasonably determines that any funds held as Cash Collateral are
subject to any right or claim of any Person other than the Administrative Agent (on behalf of the Secured Parties) or that the total
amount of such funds is less than the aggregate Outstanding Amount of all L/C Obligations (or in the case of Cash Collateral provided
with regard to Defaulting Lender Fronting Exposure, such amount of Defaulting Lender Fronting Exposure, in each case that is required
to be Cash Collateralized pursuant to this Section 3.2(b)), the Borrower will, forthwith upon demand by the Administrative Agent,
pay to the Administrative Agent, as additional funds to be deposited and held in a Cash Collateral Account as aforesaid, an amount equal
to the excess of (a) such aggregate Outstanding Amount (and/or such aggregate Defaulting Lender Fronting Exposure, as applicable)
over (b) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent reasonably determines
to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit as Cash Collateral,
such funds shall be applied, to the extent permitted under applicable Law, to reimburse the relevant Issuing Lender. To the extent the
amount of any Cash Collateral exceeds the then Outstanding Amount of such L/C Obligations or the Defaulting Lender Fronting Exposure,
as applicable, and so long as no Event of Default has occurred and is continuing, the excess shall be refunded to the Borrower.

 

3.3  
Fees and Other Charges.

 

(a)  
The Borrower will pay a fee on the actual aggregate daily undrawn and unexpired amount of all outstanding Letters of Credit at
a per annum rate equal to the Applicable Margin then in effect with respect to Eurocurrency Loans or
Term Benchmark Loans under the Revolving Facility, shared ratably among the Revolving Lenders and payable quarterly in arrears
on each applicable Fee Payment Date after the issuance date. In addition, the Borrower shall pay to each Issuing Lender for its own account
a fronting fee of 0.125% per annum (or such lower fee as the Issuing Lenders may agree) on the actual aggregate daily undrawn and unexpired
amount of all such Issuing Lender’s Letters of Credit outstanding during the applicable period, payable quarterly in arrears on
each applicable Fee Payment Date after the issuance date.

 

(b)  
In addition to the foregoing fees, the Borrower shall pay or reimburse such Issuing Lender for such normal and customary costs
and expenses as are incurred or charged by the Issuing Lender in issuing, negotiating, effecting payment under, amending or otherwise
administering

 

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any
Letter of Credit. Such costs and expenses shall be due and payable within three (3) Business Days of demand and nonrefundable.

 

3.4  
L/C Participations.

 

(a)  
The Issuing Lenders irrevocably agree to grant and hereby grant to each L/C Participant, and, to induce the Issuing Lenders to
issue Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing
Lenders, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal
to such L/C Participant’s Revolving Percentage in the Issuing Lenders’ obligations and rights under and in respect of each
Letter of Credit and the amount of each draft paid by an Issuing Lender thereunder. Each L/C Participant agrees with the Issuing Lenders
that, if a draft is paid under any Letter of Credit for which an Issuing Lender is not reimbursed in full by the Borrower in accordance
with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender’s address
for notices specified herein an amount equal to such L/C Participant’s Revolving Percentage of the amount of such draft, or any
part thereof, that is not so reimbursed. Each L/C Participant’s obligation to pay such amount shall be absolute and unconditional
and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such
L/C Participant may have against any Issuing Lender, the Borrower, any other Group Member or any other Person for any reason whatsoever,
(ii) the occurrence or continuance of a Default or an Event of Default or the failure to satisfy any of the other conditions specified
in Section 5, (iii) any adverse change in the condition (financial or otherwise) of the Borrower and the Restricted
Subsidiaries, (iv) any breach of this Agreement or any other Loan Document by the Borrower, any other Loan Party or any other L/C
Participant or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

 

(b)  
If any amount required to be paid by any L/C Participant to the Issuing Lenders pursuant to Section 3.4(a) in respect
of any unreimbursed portion of any payment made by the Issuing Lenders under any Letter of Credit is paid to the Issuing Lenders within
three (3) Business Days after the date such payment is due, such L/C Participant shall pay to the Issuing Lenders on demand an amount
equal to the product of (i) such amount, times (ii) the daily Federal Funds Effective Rate during the period from and
including the date such payment is required to the date on which such payment is immediately available to the Issuing Lenders, times
(iii) a fraction the numerator of which is the number of days that elapse during such period and the denominator of which is
360. If any such amount required to be paid by any L/C Participant pursuant to Section 3.4(a) is not made available to the
Issuing Lenders by such L/C Participant within three (3) Business Days after the date such payment is due, the Issuing Lenders shall
be entitled to recover from such L/C Participant, on demand, such amount with interest thereon calculated from such due date at the rate
per annum applicable to ABR Loans under the Revolving Facility. A certificate of an Issuing Lender submitted to any L/C Participant with
respect to any amounts owing under this Section shall be conclusive in the absence of manifest error.

 

(c)  
Whenever, at any time after an Issuing Lender has made payment under any Letter of Credit and has received from any L/C Participant
its pro rata share of such payment in accordance with Section 3.4(a), an Issuing Lender receives any payment related
to such Letter of Credit (whether directly from the Borrower or otherwise, including proceeds of collateral applied thereto by such Issuing
Lender), or any payment of interest on account thereof, such Issuing Lender will distribute to such L/C Participant its pro rata
share thereof; provided, however, that in the event that any such payment received by such Issuing Lender shall be required
to be returned by such Issuing Lender, such L/C Participant shall return to such Issuing Lender the portion thereof previously distributed
by such Issuing Lender to it.

 

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3.5  
Reimbursement Obligation of the Borrower. Upon receipt from the beneficiary of any
Letter of Credit of any notice of a drawing under such Letter of Credit, the Issuing Lenders shall promptly notify the Borrower and the
Administrative Agent thereof. If any drawing is paid under any Letter of Credit, the Borrower shall reimburse the Issuing Lenders for
the amount of (a) the drawing so paid and (b) any fees, charges or other costs or expenses incurred by the Issuing Lenders
in connection with such payment, not later than 3:00 p.m. (New York City time) on (x) if such notice of drawing is received
prior to 11:00 a.m. (New York City time), on the first Business Day following the date such drawing is paid by the Issuing Lenders
and (y) otherwise, the second Business Day following the date such drawing is paid by the Issuing Lenders (the “Honor Date”).
Each such payment shall be made to an Issuing Lender at its address for notices referred to herein in the currency in which the applicable
Letter of Credit is denominated and in immediately available funds. If the Borrower fails to so reimburse such Issuing Lender on the
Honor Date (or if any such reimbursement payment is required to be refunded to the Borrower for any reason), then (A) if such payment
relates to an Alternative Currency Letter of Credit, automatically and with no further action required, the Borrower’s or such
other Person’s obligation to reimburse the applicable L/C Borrowing shall be permanently converted into an obligation to reimburse
in Dollars the Dollar Equivalent, calculated using the Exchange Rate on the Honor Date, of such L/C Borrowing and (B) in the case of
each L/C Borrowing, the Administrative Agent shall promptly notify the applicable Issuing Lender and each relevant Issuing Lender of
the Honor Date, the amount of the unreimbursed drawing in Dollars (in the case of an Alternative Currency Letter of Credit, using the
Exchange Rate for the applicable Alternative Currency in relation to Dollars in effect on the date of determination) (the “Unreimbursed
Amount”), and the amount of such relevant Issuing Lender’s Applicable Percentage thereof. In the event that the Borrower
does not reimburse the Issuing Lender on the Business Day following the date it receives notice of the Honor Date (or, if the Borrower
shall have received such notice later than 1:00 p.m. on any Business Day, on the second succeeding Business Day), the Borrower shall
be deemed to have requested a Revolving Borrowing of ABR Loans to be disbursed on such date in an amount equal to the Unreimbursed Amount,
without regard to the minimum and multiples specified in Section 2.5 for the principal amount of ABR Loans but subject to the amount
of the unutilized portion of the Revolving Commitments, and subject to the conditions set forth in Section 5.2 (other than the delivery
of a Borrowing Notice). Any notice given by an Issuing Lender or the Administrative Agent pursuant to this Section 3.5 may be given
by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness
or binding effect of such notice. For the avoidance of doubt, if any drawing occurs under a Letter of Credit and such drawing is not
reimbursed on the same day, such drawing shall, without duplication, accrue interest at the rate applicable to ABR Loans under the Revolving
Facility until the date of reimbursement If the Borrower fail to reimburse an Issuing Lender on the Honor Date, interest shall be payable
on any such amounts from the date on which the relevant drawing is paid until payment in full at the rate set forth in (x) until
the second Business Day next succeeding the date of the relevant notice, Section 2.14(bc)
and (y) thereafter, Section 2.14(cd).

 

3.6  
Obligations Absolute. The Borrower’s obligations under this Section 3 shall
be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that
the Borrower may have or have had against the Issuing Lenders, any beneficiary of a Letter of Credit or any other Person (it being understood
that this provision shall not preclude the ability of the Borrower to bring any claim for damages against any such Person who has acted
with bad faith, gross negligence or willful misconduct, as determined in a final and non-appealable decision of a court of competent
jurisdiction). The Borrower also agree with the Issuing Lenders that the Issuing Lenders shall not be responsible for, and the Borrower’s
Reimbursement Obligations under Section 3.5 shall not be affected by, among other things, the validity or genuineness of documents
or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged or any dispute between
or among the Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred
or any claims whatsoever of the Borrower against any

 

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beneficiary of such
Letter of Credit or any such transferee; provided that the foregoing shall not be construed to excuse an Issuing Lender from liability
to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived
by the Borrower to the extent permitted by applicable Requirements of Law) suffered by the Borrower that are caused by an Issuing Lender’s
failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms
thereof. The parties hereto expressly agree that, in the absence of bad faith, gross negligence or willful misconduct on the part of
an Issuing Lender (as finally determined by a court of competent jurisdiction (that is not subject to appeal)), such Issuing Lender shall
be deemed to have exercised care in each such determination. The Issuing Lenders shall not be liable for any error, omission, interruption
or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit,
except for errors or omissions found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from
the gross negligence or willful misconduct of the Issuing Lenders. The Borrower agrees that any action taken or omitted by the Issuing
Lenders under or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence
or willful misconduct or, in the case of determinations of whether drafts and other documents presented under a Letter of Credit comply
with the terms thereof, if done in the absence of bad faith (in each case, as determined in a final and non-appealable decision of a
court of competent jurisdiction), shall be binding on the Borrower and shall not result in any liability of the Issuing Lenders to the
Borrower.

 

3.7  
Letter of Credit Payments. If any draft shall be presented for payment under any Letter
of Credit, the Issuing Lenders shall promptly notify the Borrower of the date and amount thereof. The responsibility of the Issuing Lenders
to the Borrower in connection with any draft presented for payment under any Letter of Credit shall, in addition to any payment obligation
expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under
such Letter of Credit in connection with such presentment are in conformity with such Letter of Credit.

 

3.8  
Applications. To the extent that any provision of any Application related to any Letter
of Credit, or any other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Lenders or any other
Person relating to any Letter of Credit, is inconsistent with the provisions of this Section 3, the provisions of this Section 3
shall control.

 

3.9  
Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter
of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that
with respect to any Letter of Credit that, by its terms (or the terms of any applicable Application or other document, agreement or instrument
entered into by the applicable Issuing Lender and the Borrower (or Restricted Subsidiary, if applicable) or in favor of the applicable
Issuing Lender and relating to such Letter of Credit) provides for one or more automatic increases in the stated amount thereof, the
amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such
increases, whether or not such maximum stated amount is in effect at such time.

 

SECTION
4.

REPRESENTATIONS AND WARRANTIES

 

To
induce the Administrative Agent and the Lenders to enter into this Agreement and to make the Loans and issue or participate in the Letters
of Credit, each Loan Party (but with respect to the Borrower, solely as set forth herein) hereby jointly and severally represents and
warrants to the Administrative Agent and each Lender that:

 

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4.1  
Financial Condition.

 

(a)  
The audited consolidated balance sheet of Borrower as of December
31, 2018, and December 31, 2019 the related audited consolidated statements of income, stockholders’ equity for the fiscal years
then ended present fairly in all material respects the financial condition of Borrower and its Subsidiaries at such applicable date,
and the results of its operations and stockholders’ deficit for the three months then ended. All such financial statements, including
the related schedules and notes thereto, have been prepared in accordance with GAAP.

 

(b)  
The unaudited consolidated balance sheet of Borrower as of June 30, 2020, and the related
unaudited consolidated statements of income, stockholders’ equity for the fiscal quarter then ended present fairly in all material
respects the financial condition of Borrower and its Subsidiaries at such applicable date, and the results of its operations and stockholders’
deficit for the six months then ended. All such financial statements, including the related schedules and notes thereto, have been prepared
in accordance with GAAP.

 

4.2  
No Change. Since the Closing Date, there has been no development or event that has
had or would reasonably be expected to have a Material Adverse Effect.

 

4.3  
Existence; Compliance with Law. Each Group Member (a) is duly organized (or where
applicable in the relevant jurisdiction, registered or incorporated), validly existing and (where applicable in the relevant jurisdiction)
in good standing under the laws of the jurisdiction of its organization, registration or incorporation, as the case may be, (b) has
the power and authority to own and operate its property, to lease the property it operates as lessee and to conduct the business in which
it is currently engaged and (c) is in compliance with all Requirements of Law, except in the case of clauses (a) (except as
it relates to the due organization and valid existence of the Borrower), (b) and (c) above, to the extent that the failure to comply
therewith would not, in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

4.4  
Power; Authorization; Enforceable Obligations.

 

(a)  
Each Loan Party has the power and authority, and the legal right, to enter into, make, deliver and perform the Loan Documents
to which it is a party and, in the case of the Borrower, to obtain extensions of credit hereunder. Each Loan Party has taken all necessary
organizational action to authorize the execution, delivery and performance of the Loan Documents to which it is a party and, in the case
of the Borrower, to authorize the extensions of credit on the terms and conditions of this Agreement.

 

(b)  
No Governmental Approval or consent or authorization of, filing with, notice to or other act by or in respect of, any other Person
is required in connection with the extensions of credit hereunder or with the execution, delivery, performance, validity or enforceability
of this Agreement or any of the Loan Documents, except (i) Governmental Approvals, consents, authorizations, filings and notices
that have been obtained or made and are in full force and effect and (ii) the filings referred to in Section 4.16. No
Governmental Approval or consent or authorization of, filing with, notice to or other act by or in respect of, any other Person is required
in connection with the consummation of the Transactions, except (w) Governmental Approvals, consents, authorizations, filings and
notices that have been obtained or made and are in full force and effect, (x) the filings referred to in Section 4.16,
(y) consents and approvals from Governmental Authorities required to be obtained in the ordinary course of business, and (z) consents,
authorizations, filings and notices the failure to obtain or perform would not reasonably be expected to result in a Material Adverse
Effect.

 

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(c)  
Each Loan Document has been duly executed and delivered on behalf of each applicable Loan Party. This Agreement constitutes, and
each other Loan Document upon execution will constitute, a legal, valid and binding obligation of each applicable Loan Party, enforceable
against each such Loan Party in accordance with its terms, except as enforceability may be limited by any Legal Reservations.

 

4.5  
No Legal Bar. The execution, delivery and performance of this Agreement and the other
Loan Documents, the issuance of Letters of Credit, the borrowings and guarantees hereunder and the use of the proceeds thereof (i) will
not violate any Contractual Obligation of the Borrower or any Group Member (except, individually or in the aggregate, as would not reasonably
be expected to result in a Material Adverse Effect), or violate any material Requirement of Law or the Organizational Documents of any
Loan Party and (ii) will not result in, or require, the creation or imposition of any Lien on any of their respective properties
or revenues pursuant to any Requirement of Law, any such Organizational Documents or any such Contractual Obligation (other than the
Liens created by the Security Documents and other than any other Permitted Liens) except, individually or in the aggregate, as would
not reasonably be expected to result in a Material Adverse Effect.

 

4.6  
Litigation. No litigation, suit or proceeding of or before any arbitrator or Governmental
Authority is pending or, to the knowledge of any Loan Party, threatened in writing by or against any Group Member or against any of their
respective properties, assets or revenues that would reasonably be expected to have a Material Adverse Effect.

 

4.7  
Ownership of Property; Liens. Except where the failure to have such title or other
interest would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each Group Member has
title in fee simple to, or a valid leasehold interest in, all its real property, and good title to, or a valid leasehold interest in,
all its other property, and none of such property is subject to any Lien except as permitted by Section 7.7.

 

4.8  
Intellectual Property. Except as would not, individually or in an aggregate, reasonably
be expected to have a Material Adverse Effect, the Group Members own, or are licensed to use, all intellectual property necessary for
the conduct in all material respects of the business of the Borrower and the Restricted Subsidiaries, taken as a whole, as currently
conducted. As of the Closing Date, except as would not, individually or in an aggregate, reasonably be expected to have a Material Adverse
Effect, the Group Members own, or are licensed to use, all intellectual property necessary for the conduct in all material respect of
the business of the Borrower and the Restricted Subsidiaries, taken as a whole, as was conducted by them immediately prior to the Closing
Date. No material claim has been asserted in writing and is pending by any Person challenging or questioning any Group Member’s
use of any intellectual property or the validity or effectiveness of any Group Member’s intellectual property or alleging that
the conduct of any Group Member’s business infringes or violates the rights of any Person, nor does the Borrower or any other Loan
Party know of any valid basis for any such claim, except, in each case, for such claims that would not reasonably be expected to result
in a Material Adverse Effect.

 

4.9  
Taxes. Except as would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect, (i) each Group Member has filed or caused to be filed all Tax returns that are required to be
filed and has paid or caused to be paid all Taxes shown to be due and payable on said returns or on any assessments made against it or
any of its property by any Governmental Authority (other than any Taxes the amount or validity of which is currently being contested
in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided on the books of
the relevant Group Member); and (ii) no tax Lien (other than any Liens for Taxes not yet due and payable and any Permitted Lien)
has been filed, and, to the knowledge of any of the Group Members, no claim is being asserted, with respect to any such Tax, fee or other
charge.

 

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4.10  
Federal Regulations. No Group Member is engaged principally, or as one of its important
activities, in the business of extending credit for the purpose of buying or carrying Margin Stock, and no part of the proceeds of any
Loans, and no other extensions of credit hereunder, will be used for any purpose that violates the provisions of the regulations of the
Board.

 

4.11  
Employee Benefit Plans. Except as would not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect, (i) neither a Reportable Event nor a failure to meet the minimum funding standards of
Section 412 or 430 of the Code or Section 302 or 303 of ERISA has occurred during the five-year period prior to the date on which this
representation is made or deemed made with respect to any Plan, (ii) each Plan has been operated and maintained in compliance in all
respects with applicable Law, including the applicable provisions of ERISA and the Code, and the governing documents for such Plan, (iii)
no termination of a Single Employer Plan has occurred, and no Lien in favor of the PBGC or a Plan has arisen, during such five-year period,
(iv) the present value of all accrued benefits under each Single Employer Plan (based on those assumptions used to fund such Plans) did
not, as of the last annual valuation date prior to the date on which this representation is made or deemed made, exceed the value of
the assets of such Plan allocable to such accrued benefits, (v) neither the Borrower nor any Commonly Controlled Entity has had a complete
or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) from any Multiemployer Plan, (vi) no Multiemployer Plan
is Insolvent or has terminated (nor does a Group Member have knowledge that a Multiemployer Plan is intended to be terminated) under
Sections 4041A or 4042 of ERISA, (vii) there has been no filing of a notice of intent to terminate or the treatment of a Plan amendment
as a termination under Section 4041 of ERISA, the PBGC has not instituted proceedings to terminate a Plan, and no event or condition
has occurred which constitutes grounds under Section 4042 of ERISA for the termination of, or appointment of a trustee to administer,
any Plan, (viii) there has been no determination that any Single Employer Plan is in “at-risk” status within the meaning
of Section 430 of the Code or Section 303 of ERISA or that any Multiemployer Plan is in “endangered” or “critical”
status within the meaning of Section 432 of the Code or Section 305 of ERISA, (ix) each Foreign Plan has been operated and maintained
in compliance in all respects with applicable law and the governing documents for such plan, and (x) no Foreign Benefit Plan Event has
occurred during the five-year period prior to the date on which this representation is made or deemed made with respect to any Foreign
Plan (the occurrence of any of the above, an “ERISA Event”).

 

4.12  
Affected Financial Institution. No Loan Party is an Affected Financial Institution.

 

4.13  
Investment Company Act. No Loan Party is registered or required to be registered as
an “investment company” under the Investment Company Act of 1940, as amended.

 

4.14  
Environmental Matters. Except as, in the aggregate, would not reasonably be expected
to have a Material Adverse Effect:

 

(a)  
the facilities and real properties owned, leased or operated by any Group Member (the “Properties”) do not
contain, and (to the knowledge of the Group Members) have not previously contained, any Materials of Environmental Concern in amounts
or concentrations or under circumstances that constitute or constituted a violation of any Environmental Law;

 

(b)  
no Group Member has received any written notice of violation, alleged violation, non-compliance, liability or potential liability
regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the business operated by
any Group Member (the “Business”), nor does any Group Member have knowledge that any such notice is being threatened;

 

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(c)  
Materials of Environmental Concern have not been released, transported, generated, treated, stored or disposed of from the Properties
in violation of, or in a manner or to a location that is reasonably expected to give rise to liability under, any Environmental Law;

 

(d)  
no judicial proceeding or governmental or administrative action is pending or, to the knowledge of any Group Member, threatened,
under any Environmental Law to which any Group Member is or, to the knowledge of the Group Member, will be named as a party with respect
to the Properties or the Business, nor are there any consent decrees or other decrees, consent orders, administrative orders or other
orders, or other judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business;

 

(e)  
the Properties and all operations at the Properties are in compliance, and (to the knowledge of the Group Members) have in the
past five years been in compliance, with all applicable Environmental Laws; and

 

(f)  
to the knowledge of the Group Members, there are no past or present conditions, events, circumstances, facts, or activities that
would reasonably be expected to give rise to any liability or other obligation for any Group Member under any Environmental Laws.

 

4.15  
Accuracy of Information, etc. No written statement or information concerning any Group
Member or the Business contained in this Agreement, any other Loan Document, or any other document, certificate or written statement
furnished by or on behalf of any Loan Party to the Administrative Agent or the Lenders, or any of them (except for projections, pro forma
financial information and information of a general economic or industry nature), for use in connection with the transactions contemplated
by this Agreement or the other Loan Documents, when taken as a whole, contained, as of the date such statement, information, document
or certificate was so furnished and after giving effect to all supplements and updates thereto, any untrue statement of a material fact
or omitted to state a material fact necessary to make the statements contained herein or therein not materially misleading in light of
the circumstances under which such statements were made. The projections and pro forma financial information, taken as a whole, contained
in the materials referenced above are based upon good faith estimates and assumptions believed by management of the Borrower to be reasonable
at the time made and as of the Closing Date (with respect to such projections and pro forma financial information delivered prior to
the Closing Date), it being recognized by the Lenders that such financial information as it relates to future events is not to be viewed
as fact, forecasts and projections are subject to uncertainties and contingencies, many of which are beyond the control of the Borrower
and its Subsidiaries, actual results during the period or periods covered by such financial information may differ from the projected
results set forth therein by a material amount and no assurance can be given that any forecast or projections will be realized.

 

4.16  
Security Documents.

 

(a)  
Each of the Security Documents is effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties,
a legal, valid and, subject to any Legal Reservations, enforceable security interest in the Collateral described therein and proceeds
thereof under applicable laws.

 

(b)  
Upon the making of the filings and taking of the actions contemplated by the Security Documents, the Liens created by the Security
Documents constitute fully perfected (or the equivalent under applicable law) first priority Liens (subject to Permitted Liens) so far
as possible under relevant law on, and security interests in all right, title and interest of the Loan Parties in the Collateral in each
case free and clear of any Liens other than Liens permitted hereunder.

 

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(c)  
Each Segregated Acquisition Amount will be, promptly upon funding, deposited into a deposit
account subject to the valid and perfected first priority security interest of the Administrative Agent (each “Segregated Acquisition
Amount Deposit Account”) and subject to the terms of one or more control agreements in a form that is reasonably satisfactory
to the Administrative Agent establishing the Administrative Agent’s control with respect thereto (each, a “Segregated
Acquisition Amount Deposit Account Control Agreement”). The Security Agreement creates a valid security interest in favor of
the Administrative Agent for the benefit of the Secured Parties in the applicable Segregated Acquisition Amount Deposit Account and the
funds held therein, and such security interest of the Administrative Agent for the benefit of the Secured Parties constitutes a first
priority security interest perfected by control (within the meaning of the UCC).

 

4.17  
Solvency. As of the Closing Date (and after giving effect to the consummation of the
Transaction to occur on the Closing Date), the Borrower and its Subsidiaries, on a consolidated basis, after giving effect to the Transactions
and the Incurrence of all Indebtedness and obligations being Incurred in connection herewith and therewith and the other transactions
contemplated hereby and thereby, are Solvent.

 

4.18  
Patriot Act; FCPA; OFAC; Sanctions Laws.

 

(a)  
To the extent applicable, the Loan Parties and each of their Subsidiaries are in compliance in all material respects with U.S.
and non-U.S. Laws relating to Sanctions Laws and anti-money laundering, including the Patriot Act. As of the Closing Date, to the knowledge
of the Borrower, the information included in the Beneficial Ownership Certification is true and correct in all material respects.

 

(b)  
The Loan Parties and each of their Subsidiaries are in compliance in all material respects with all applicable Anti-Corruption
Laws. No part of the proceeds of the Loans will be used directly or, knowingly, indirectly, for any payments to any governmental official
or employee, political party, official of a political party, candidate for political office, or any other Person acting in an official
capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of any Anti-Corruption Laws.

 

(c)  
None of the Loan Parties, nor any of their Subsidiaries, nor any director or officer, nor, to the knowledge of the Loan Parties,
any employee of the Loan Parties and each of their Subsidiaries, nor, to the knowledge of the Loan Parties and each of their Subsidiaries,
any agent or representative of the Loan Parties and each of their Subsidiaries, is a Sanctioned Person. No Group Member is located, organized
or resident in a country or territory that is the subject of Sanctions Laws.

 

(d)  
The Loan Parties will not, directly or, knowingly, indirectly, use the proceeds of any Loans, or lend, contribute or otherwise
make available such proceeds to any Subsidiary (and any joint ventures of the Loan Parties or any of their Subsidiaries), joint venture
partner or other Person, to fund any activities of or business with any Sanctioned Person, or in any country or territory, that, at the
time of such funding, is itself the subject of Sanctions Laws, or in any other manner that will result in a violation by any of the Loan
Parties of Sanctions Laws or applicable Anti-Corruption Laws.

 

4.19  
Status as Senior Indebtedness. The Obligations under the Facilities constitute “senior
debt”, “senior indebtedness”, “guarantor senior debt”, “senior secured financing” and “designated
senior indebtedness” (or any comparable term) for all Indebtedness (if any) that is subordinated in right of payment to the Obligations.

 

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Notwithstanding
anything herein or in any other Loan Document to the contrary, no officer of any Group Member shall have any personal liability in connection
with the representations and warranties and other certifications in this Agreement or any other Loan Document.

 

SECTION
5.

CONDITIONS PRECEDENT

 

5.1  
Conditions to Closing Date. The agreement of each Lender to make the initial extension
of credit requested to be made by it under this Agreement on the Closing Date is subject to the satisfaction, prior to or concurrently
with the making of such extension of credit on the Closing Date, of the following conditions precedent:

 

(a)  
Loan Documents. The Administrative Agent shall have received:

 

(i)  
this Agreement, executed and delivered by the Borrower, each Guarantor and each Person listed on Schedule 1.1A-1;

 

(ii)  
the Security Agreement, executed and delivered by the Loan Parties;

 

(iii)  
the Intellectual Property Security Agreements, executed and delivered by the Loan Parties party thereto;

 

(iv)  
each Note, executed and delivered by the Borrower in favor of each Lender requesting the same at least three (3) Business Days
prior to the Closing Date;

 

(v)  
a Borrowing Request, executed and delivered by the Borrower two (2) Business Days prior to the Closing Date (or such later time
as accepted by the Administrative Agent in its sole discretion);

 

(vi)  
[reserved]; and

 

(vii)  
the results of a search of the Uniform Commercial Code filings (or equivalent filings) with respect to the Loan Parties in the
states (or other jurisdictions) of formation of such Persons, the results of a judgment and tax lien search with respect to the Loan
Parties in the states and county in which the chief executive office of each such Person is located and in such other jurisdictions as
may be reasonably required by the Administrative Agent, together with copies of the financing statements (or similar documents) disclosed
by such search and with copies of United States Copyright Office and the United States Patent and Trademark Office searches reasonably
required by the Administrative Agent and evidence reasonably satisfactory to the Administrative Agent that the Liens indicated by such
financing statements (or similar documents) are permitted under Section 7.7 or have been, or will be simultaneously or substantially
concurrently with the closing under this Agreement, released (or arrangements reasonably satisfactory to the Administrative Agent for
such release shall have been made.

 

(c)  
Fees. The Lenders and the Administrative Agent shall have received, or substantially concurrently with the initial term
borrowing under the Facilities shall receive, all fees required to be paid on or prior to the Closing Date, and all reasonable and documented
out-of-pocket expenses required to be paid on the Closing Date for which reasonably detailed invoices have been presented (including
the reasonable and documented out-of-pocket fees and expenses of legal counsel to the Administrative Agent) to the Borrower at least
three (3) Business Days prior to the Closing Date (or

 

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such
later date as the Borrower may reasonably agree), which amounts may be offset against the proceeds of the Facilities.

 

(d)  
Closing Certificate; Certified Certificate of Incorporation; Good Standing Certificates.
The Administrative Agent shall have received (i) an Officer’s Certificate of each Loan Party, dated the Closing Date, in form
and substance reasonably acceptable to the Administrative Agent, with appropriate insertions and attachments, including copies of resolutions
of the Board of Directors and/or similar governing bodies of each Loan Party approving and authorizing the execution, delivery and performance
of the Loan Documents to which it is a party and, in the case of the Borrower, the borrowings hereunder, certified organizational authorizations
(if required by applicable law or customary for market practice in the relevant jurisdiction), incumbency certifications, the certificate
of incorporation or other similar Organizational Documents of each Loan Party certified by the relevant authority of the jurisdiction
of organization, registration or incorporation of such Loan Party (only where customary in the applicable jurisdiction) and bylaws or
other similar Organizational Documents of each Loan Party certified by a Responsible Officer as being in full force and effect on the
Closing Date and (ii) a good standing certificate (to the extent such concept exists in the relevant jurisdictions) for each Loan
Party from its jurisdiction of organization, registration or incorporation.

 

(e)  
Legal Opinions. The Administrative Agent shall have received the executed legal opinion
of Davis Polk & Wardwell LLP, New York counsel to the Loan Parties, and executed legal opinions of each local counsel to the Loan
Parties or the Administrative Agent, as applicable, set forth on Schedule 5.1(f), each of which shall be in form and substance
reasonably satisfactory to the Administrative Agent (provided that counsel to the Administrative Agent shall provide such opinions
to the extent customary in any applicable jurisdiction).

 

(f)  
Pledged Stock; Stock Powers; Pledged Notes. The Administrative Agent shall have received
the certificates representing the Capital Stock (to the extent certificated) pledged or otherwise required to be delivered pursuant to
the Security Agreement, together with an undated stock power or other equity transfer form for each such certificate executed or endorsed
in blank by a duly authorized signatory of the pledgor thereof.

 

(g)  
Filings, Registrations and Recordings. Each document (including any Uniform Commercial
Code financing statement) required by the Security Documents or under law or reasonably requested by the Administrative Agent to be filed,
registered or recorded in order to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a perfected first
Lien on the Collateral described therein, prior and superior in right to any other Person (other than Permitted Liens), shall have been
executed and delivered to the Administrative Agent in proper form for filing, registration or recordation.

 

(h)  
Solvency Certificate. The Administrative Agent shall have received a Solvency Certificate,
which demonstrates that the Borrower and its Subsidiaries, on a consolidated basis, are, after giving effect to the Transactions and
the other transactions contemplated hereby, Solvent.

 

(i)  
Patriot Act. The Administrative Agent and the Lenders (in each case to the extent
reasonably requested in writing at least ten (10) Business Days prior to the Closing Date) shall have received, at least three (3)
Business Days prior to the Closing Date, all documentation and other information about the Loan Parties that the Administrative Agent
reasonably determines is required by Governmental Authorities under applicable “know your customer” and anti-money-laundering
rules and regulations, including without limitation the PATRIOT Act and a beneficial ownership certificate to the extent required under
31 C.F.R § 1010.230.

 

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(j)  
Refinancing. The Existing Debt Release/Repayment shall be
consummated substantially concurrently with the initial borrowing under the Facilities.

 

(k)  
Guarantees. The guarantees of the Guarantor Obligations by all Subsidiaries that are
not Excluded Subsidiaries shall have been executed and are in full force and effect or substantially simultaneously with the initial
borrowing under the Facilities, shall be executed and become in full force and effect.

 

5.2  
Conditions to Each Borrowing Date. The agreement of each Lender to make any extension
of credit (other than as otherwise agreed in connection with a Limited Condition Transaction) requested to be made by it on any date
(except as otherwise provided herein in the case of Incremental Term Loans and Incremental Revolving Loans) is subject to the satisfaction
of the following conditions precedent:

 

(a)  
Representations and Warranties. Each of the representations and warranties made by any Loan Party in or pursuant to the
Loan Documents shall be true and correct in all material respects (except where such representations and warranties are already qualified
by materiality, in which case such representation and warranty shall be accurate in all respects) on and as of such date as if made on
and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such
representations and warranties shall have been true and correct in all material respects (except where such representations and warranties
are already qualified by materiality, in which case such representation and warranty shall be accurate in all respects) as of such earlier
date.

 

(b)  
No Default. No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to
the extensions of credit requested to be made on such date.

 

(c)  
Notice. The Administrative Agent and, if applicable, the Issuing Lenders or the Designated Acquisition Swingline Lender,
shall have received notice from the Borrower, which, if in writing, may be in the form of a Borrowing Request.

 

Each Borrowing
by, and each issuance, renewal, extension, increase or amendment of a Letter of Credit on behalf of, the Borrower hereunder (other than
its initial extension of credit on the Closing Date or as otherwise agreed in connection with a Limited Condition Transaction, and except
as otherwise provided herein in the case of Incremental Term Loans and Incremental Revolving Loans)) shall constitute a representation
and warranty by the Borrower as of the date of such extension of credit that the conditions contained in this Section 5.2
have been satisfied; provided, however, that for the avoidance of doubt the conversion or continuation of an existing Borrowing pursuant
to Section 2.12 does not constitute the Borrowing of a Loan under this Section 5.2 and shall not result in a
representation and warranty by the Borrower on the date thereof as to the conditions contained in this Section 5.2.

 

SECTION
6.

AFFIRMATIVE COVENANTS

 

The
Borrower hereby agrees that, until all Commitments have been terminated and the principal of and interest on each Loan, all fees and
all other expenses or amounts payable under any Loan Document and all other Obligations shall have been paid in full (other than (i)
contingent indemnification and reimbursement obligations for which no claim has been made, (ii) Cash Management Obligations as to which
arrangements reasonably satisfactory to the Cash Management Providers have been made and (iii) obligations under Qualified Hedging Agreements
to which arrangements reasonably satisfactory to the Qualified Counterparties have been made) and all Letters of Credit have been canceled,
have expired

 

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or
have been Collateralized or, rolled into another credit facility, the Borrower will, and will cause each of its Restricted Subsidiaries
to:

 

6.1  
Financial Statements. Furnish to the Administrative Agent (who shall promptly furnish
to each Lender):

 

(a)  
as soon as available, but in any event within 90 days (or such longer period as the SEC shall permit for BRP Group to file
its Annual Report on Form 10-K (such date, the “Extended 10-K Date”) so long as BRP Group is an SEC reporting company
not to exceed the earlier to occur of (x) the Extended 10-K Date and (y) 45 days after the annual audited financial statements would
otherwise be required to have been delivered under this Section 6.01(a)) after the last day of each fiscal year of the Borrower ending
after the Closing Date, a copy of the audited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the
end of such year and the related audited consolidated statements of operations, comprehensive income (loss), member’s equity and
cash flows for such year, setting forth in each case in comparative form the figures for the previous year (beginning with the fiscal
year ending December 31, 2020) and accompanied by an opinion of  PricewaterhouseCoopers LLP or other independent certified
public accountants of recognized national standing (or any other independent certified public accountants reasonably acceptable to the
Administrative Agent), which opinion shall not be subject to qualification as to scope or contain any “going concern” qualification
or exception other than with respect to or resulting from (i) the impending maturity of the Facilities or (ii) any potential
or actual inability to satisfy the financial covenants set forth in Section 7.1 (provided that delivery within the time
periods specified above of copies of the Annual Report on Form 10-K of BRP Group filed with the SEC (or the equivalent documents filed
with a comparable agency in any applicable non-U.S. jurisdiction, provided such documents contain substantially the same information
as would be set forth in a Form 10-K) shall be deemed to satisfy the requirements of this Section 6.1(a)); provided
that the extent such information relates to BRP Group, such information is accompanied by information that explains in reasonable detail
any material differences between the information relating to BRP Group, on the one hand, and the information relating to Borrower and
its consolidated Subsidiaries on a standalone basis, on the other hand which explanation may be qualitative if appropriate or can indicate
that there are no material differences if accurate; and

 

(b)  
as soon as available, but in any event within 45 days (or such longer period as the SEC shall permit for BRP Group to file
its Quarterly Report on Form 10-Q (such date, the “Extended 10-Q Date”) so long as BRP Group is an SEC reporting company
not to exceed the earlier to occur of (x) the Extended 10-Q Date and (y) 45 days after the quarterly unaudited financial statements would
otherwise be required to have been delivered under this Section 6.01(b)) after the last day of the first three fiscal quarters of each
fiscal year of the Borrower, the unaudited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the end
of such quarter and the related unaudited consolidated statements of operations, comprehensive income (loss), member’s equity and
cash flows for such quarter and the portion of the fiscal year through the end of such quarter, setting forth in each case in comparative
form the figures for the previous year (beginning with the fiscal quarter ending December 31, 2020), certified by a Responsible Officer
as fairly stating in all material respects the financial position of the Borrower and its consolidated Subsidiaries in accordance with
GAAP for the period covered thereby (subject to normal year-end audit adjustments and the absence of footnotes) (provided that
delivery within the time periods specified above of copies of the Quarterly Report on Form 10-Q of BRP Group (filed with the SEC (or
the equivalent documents filed with a comparable agency in any applicable non-U.S. jurisdiction, provided such documents contain substantially
the same information as would be set forth in Form 10-Q) shall be deemed to satisfy the requirements of this Section 6.1(b));
provided that the extent such information relates to BRP Group, such information is accompanied by information that explains in
reasonable detail any material differences between the information relating to BRP Group, on the one hand, and the information relating
to Borrower and its consolidated

 

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Subsidiaries
on a standalone basis, on the other hand which explanation may be qualitative if appropriate or can indicate that there are no material
differences if accurate.

 

All
such financial statements shall be complete and correct in all material respects and shall be prepared in reasonable detail and (except
as otherwise provided below) in accordance with GAAP applied consistently (except to the extent any such inconsistent application of
GAAP has been approved by such accountants (in the case of clause (a) above) or officer (in the case of clause (b)
above), as the case may be, and disclosed in reasonable detail therein) throughout the periods reflected therein and with prior periods
(subject, in the case of quarterly financial statements, to normal year-end audit adjustments and the absence of footnotes).

 

6.2  
Certificates; Other Information. Furnish to the Administrative Agent (who shall promptly
furnish to each Lender):

 

(a)  
The Borrower and each Lender acknowledge that certain of the Lenders may be “public-side” Lenders (Lenders that do
not wish to receive material non-public information with respect to the Borrower, its Subsidiaries or its securities) (the “Public
Lenders”) and, if documents or notices required to be delivered pursuant to Section 6.1 or this Section 6.2
or otherwise are being distributed through IntraLinks/IntraAgency, SyndTrak or another relevant website or other information platform
(the “Platform”), any document or notice that Borrower has indicated contains Private Lender Information shall not
be posted on that portion of the Platform designated for such public-side Lenders, provided that if Borrower has not indicated
whether a document or notice delivered pursuant to Section 6.1 or this Section 6.2 contains Private Lender Information,
the Administrative Agent reserves the right to post such document or notice solely on that portion of the Platform designated for Lenders
who wish to receive material nonpublic information with respect to the Borrower, its Subsidiaries or its securities;

 

(b)  
[reserved];

 

(c)  
concurrently with the delivery of any financial statements pursuant to Section 6.1(a) or (b), (i) an Officer’s
Certificate of Borrower stating that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as
specified in such certificate, (ii) (x) a Compliance Certificate containing all information and calculations reasonably necessary
for determining the Applicable Margin and/or Commitment Fee Rate (if, and only if, the Borrower desires to avail itself of a potential
step-down in the Applicable Margin and/or Commitment Fee Rate or if such information or calculation would require an upward adjustment
in such Applicable Margin or Commitment Fee Rate), and, compliance by the Borrower with the provisions of Section 7.1 of
this Agreement as of the last day of the fiscal quarter or fiscal year of the Borrower, as the case may be (and, with respect to each
annual financial statement, the ECF Percentage and if the ECF Percentage is greater than 0% the amount, if any, of Excess Cash Flow for
such fiscal year together with the calculation thereof in reasonable detail), and (y) to the extent not previously disclosed to
the Administrative Agent, (I) a description of any change in the jurisdiction of organization of any Loan Party, (II) a list of any material
intellectual property registered with, or for which an application for registration has been made with, the U.S. Patent and Trademark
Office or the U.S. Copyright Office and acquired or developed (and not sold, transferred or otherwise disposed of) by any Loan Party
and (III) a list of any material “intent to use” trademark applications for which a “Statement of Use” or an
“Amendment to Allege Use” was filed with the U.S. Patent and Trademark Office by any Loan Party, in each case, since the
date of the most recent report delivered pursuant to this clause (y) (or, in the case of the first such report so delivered,
since the Closing Date), (iii) certifying a list of names of all Immaterial Subsidiaries designated as such (or certifying as to
any changes to such list since the delivery of the last such certificate) and that each Subsidiary set forth on such list individually
qualifies as an Immaterial Subsidiary, (iv) certifying a list of names of all Unrestricted Subsidiaries (if any) (or certifying
as to any changes to such list since the delivery of the last

 

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such
certificate) and that each Subsidiary set forth on such list individually qualifies as an Unrestricted Subsidiary and (v) a presentation
of Consolidated EBITDA, on a Pro Forma Basis;

 

(d)  
concurrently with the delivery of financial statements pursuant to Section 6.1(a) (commencing with the fiscal year ending
on December 31, 2020), a detailed consolidated budget for the following fiscal year (including (i) projected consolidated quarterly
income statements and (ii) projected consolidated annual balance sheet of the Borrower and its consolidated Subsidiaries);

 

(e)  
simultaneously with the delivery of each set of consolidated financial statements referred to in Section 6.1(a) above,
a narrative discussion and analysis of the financial condition and results of operations of the Borrower and the Restricted Subsidiaries
for such fiscal year, as compared to the previous fiscal year (to the extent such comparisons are required pursuant to Section 6.1(a))
(provided that delivery (i) within the time periods specified above of copies of the Annual Report on Form 10-K of BRP Group filed
with the SEC and (ii) in the form consistent with delivered to the Administrative Agent for the fiscal year ending December 31, 2019,
in each case, shall be deemed to satisfy the requirements of this Section 6.2(e));

 

(f)  
promptly, copies of all financial statements and reports that the Borrower and the Restricted Subsidiaries send generally to the
holders of any class of their debt securities or public equity securities, acting in such capacity, and, within five days after the same
are filed, copies of all financial statements and reports that the Borrower may make to, or file with, the SEC, other than the items
referred to in Sections 6.1(a), 6.1(b) and 6.2(e) (which copies, for the avoidance of doubt, shall be deemed
to be delivered in accordance with this clause (f) when and to the extent such underlying financial statements or reports are filed by
BRP Group with the SEC);

 

(g)  
as promptly as reasonably practicable following the Administrative Agent’s request therefor, (i) such other information
regarding the operations, business affairs and financial condition of any Group Member, or compliance with the terms of any Loan Document,
as the Administrative Agent may reasonably request; (ii) all documentation and other information that the Administrative Agent or any
Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money
laundering or terrorist financing rules and regulations, including the Patriot Act and (iii) an updated Beneficial Ownership Certification.

 

Nothing
in this Agreement or in any other Loan Document shall require any Loan Party to provide information (i) that constitutes non-financial
trade secrets or non-financial proprietary information, (ii) in respect of which disclosure is prohibited by applicable Laws, (iii) that
is subject to attorney-client or similar privilege or constitutes attorney work product or (iv) the disclosure of which is restricted
by binding agreements not entered into primarily for the purpose of qualifying for the exclusion in this clause (iv) (in the case of
this clause (iv), so long as such confidentiality agreement does not relate to information regarding the financial affairs of
any Group Member or compliance with the terms of any Loan Document).

 

6.3  
Payment of Taxes. Pay, discharge or otherwise satisfy at or before maturity or before
they become delinquent, as the case may be, all of its Tax obligations, except (i) where the failure to do so would not reasonably
be expected to have a Material Adverse Effect or (ii) where the amount or validity thereof is currently being contested in good
faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower
or the relevant Group Member.

 

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6.4  
Maintenance of Existence; Compliance with Law.

 

(a)  
(i) Preserve, renew and keep in full force and effect its organizational existence and (ii) take all reasonable action to
maintain or obtain all Governmental Approvals and all other rights, privileges and franchises, in each case necessary or desirable in
the normal conduct of its business, except, in each case, as otherwise permitted by Section 7.8 or by the Security Documents
and except, in the case of clauses (i) (other than with respect to Borrower) and (ii) above, to the extent that failure
to do so would not reasonably be expected to have a Material Adverse Effect;

 

(b)  
comply with all Requirements of Law (including, as applicable, Sanctions Law and the applicable Anti-Corruption Laws) except to
the extent that failure to comply therewith would not, in the aggregate, reasonably be expected to have a Material Adverse Effect; and

 

(c)  
comply with all Governmental Approvals except to the extent that failure to do so would not reasonably be expected to have a Material
Adverse Effect.

 

6.5  
Maintenance of Property; Insurance. (a) Keep all property useful and necessary
in its business in good working order and condition, ordinary wear and tear and casualty and condemnation excepted, except to the extent
the failure to do so would not reasonably be expected to have a Material Adverse Effect, (a)(a) maintain all the rights, licenses,
permits, privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its business, except to the
extent the failure to do so would not reasonably be expected to have a Material Adverse Effect, (b)(b) maintain with insurance companies
that the Borrower believes (in the good faith judgment of the management of the Borrower) are financially sound and responsible at the
time the relevant coverage is placed or renewed insurance in at least such amounts (after giving effect to any self-insurance) which
the Borrower believes (in the good faith judgment of management of the Borrower) is reasonable and prudent in light of the size and nature
of its business and against at least such risks (and with such risk retentions) as the Borrower believes (in the good faith judgment
of management of the Borrower) is reasonable and prudent in light of the size and nature of its business and (c) all such policies with
respect to such liability and property insurance shall name the Administrative Agent as an additional insured or loss payee, as applicable,
and certificates and endorsements evidencing the foregoing in form and substance reasonably satisfactory to the Administrative Agent
shall be delivered to the Administrative Agent. If any portion of any Mortgaged Property is at any time located in an area identified
by the Federal Emergency Management Agency (or any successor agency) as a special flood hazard area with respect to which flood insurance
has been made available under the Flood Insurance Laws, then the Borrower shall, or shall cause each Loan Party to, (i) maintain, or
cause to be maintained, with insurance companies that the Borrower believes (in the good faith judgment of the management of the Borrower)
are financially sound and reputable insurer, flood insurance in an amount and otherwise sufficient to comply with all applicable rules
and regulations promulgated pursuant to the Flood Insurance Laws, (ii) cooperate with the Administrative Agent and provide information
reasonably required by the Administrative Agent to comply with the Flood Insurance Laws and (iii) deliver to the Administrative Agent
evidence of such compliance in form and substance reasonably acceptable to the Administrative Agent, including, without limitation, evidence
of annual renewals of such insurance.

 

6.6  
Inspection of Property; Books and Records; Discussions. (a) Keep proper books
of records and account in which entries full, true and correct in all material respects in conformity with GAAP shall be made of all
dealings and transactions in relation to its business and activities and (b) permit, at the Borrower’s expense, representatives
of the Administrative Agent to visit and inspect any of its properties and examine and make abstracts from any of its books and records
at any reasonable time during normal business hours, upon reasonable prior written notice, and as often as may reasonably be requested
and to discuss the business, operations, properties and financial and other condition of the

 

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Group Members with
officers and employees of the Group Members and with their independent certified public accountants; provided that (i) in no event
shall there be more than one such visit for the Administrative Agent and its representatives as a group per calendar year except during
the continuance of an Event of Default and (ii) the Borrower shall have the right to be present during any discussions with accountants.
Notwithstanding anything to the contrary in this Section 6.6, none of the Group Members will be required to disclose, permit the
inspection, examination or making copies or abstracts of, or discuss any document, information or other matter that (a) constitutes
non-financial trade secrets or non-financial proprietary information, (b) in respect of which disclosure to the Administrative Agent
or any Lender (or their respective representatives or contractors) is prohibited by Law or any binding agreement (other than any agreement
with another Group Member or any Affiliate thereof), (c) is subject to attorney-client or similar privilege or constitutes attorney
work product or (d) the disclosure of which is restricted by binding agreements not entered into primarily for the purpose of qualifying
for the exclusion in this clause (d).

 

6.7  
Notices. Promptly after a Responsible Officer of the Borrower has obtained knowledge
thereof, give notice to the Administrative Agent (who shall promptly furnish to each Lender) of:

 

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

 

(b)  
the following events where there is any reasonable likelihood of the imposition of liability on the Borrower or any Commonly Controlled
Entity as a result thereof that would be reasonably expected to have a Material Adverse Effect: (i) the occurrence of any ERISA Event,
(ii) a failure to make any required contributions to a Plan in a material amount or (iii) the institution of proceedings or the taking
of any other action by the PBGC or the Borrower or any Commonly Controlled Entity or any Multiemployer Plan with respect to the termination
(in other than a “standard termination” as defined in ERISA), or Insolvency of, any Plan; and

 

(c)  
(i) any dispute, litigation, investigation or proceeding between the Borrower or any Restricted Subsidiary and any arbitrator
or Governmental Authority or (ii) the filing or commencement of, or any material development in, any litigation or proceeding affecting
the Borrower or any Restricted Subsidiary, including any claims related to any Environmental Law or in respect of intellectual property,
that, in any such case referred to in clauses (i) or (ii), has resulted or would reasonably be expected to result in a
Material Adverse Effect;

 

Each
notice pursuant to this Section 6.7 shall be accompanied by a statement of a Responsible Officer of the Borrower setting
forth details of the occurrence referred to therein and stating what action the relevant Group Member proposes to take with respect thereto.

 

6.8  
Environmental Laws.

 

(a)  
Comply with, and take commercially reasonably action to ensure compliance by all tenants and subtenants, if any, with, all applicable
Environmental Laws, and obtain and comply with and maintain, and take commercially reasonably action to ensure that all tenants and subtenants
obtain and comply with and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable
Environmental Laws, except, in each case, where the failure to do so would not reasonably be expected to result in a Material Adverse
Effect.

 

(b)  
Conduct and complete all investigations, studies, sampling and testing, and all remedial, removal and other actions required under
Environmental Laws and promptly comply with all lawful orders and directives of all Governmental Authorities regarding Environmental
Laws, except

 

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where
the failure to do so would not reasonably be expected to result in a Material Adverse Effect, or such requirements, orders or directives
are being contested in good faith by a Group Member.

 

6.9  
Additional Collateral, etc.

 

(a)  
With respect to any property (to the extent included in the definition of “Collateral”) acquired at any time after
the Closing Date by any Loan Party (or any Group Member required to become a Loan Party pursuant to the terms of the Loan Documents)
as to which the Administrative Agent, for the benefit of the Secured Parties, does not have a perfected first priority Lien (to the extent
so required by the terms of the Security Agreement) within 90 days (or such longer period as the Administrative Agent shall reasonably
agree) (i) execute and deliver to the Administrative Agent such amendments to the relevant Security Document or such other documents
as the Administrative Agent reasonably deems necessary or advisable to grant to the Administrative Agent, for the benefit of the Secured
Parties, a security interest in such property and (ii) take all actions reasonably necessary or advisable to grant to the Administrative
Agent, for the benefit of the Secured Parties, a perfected first priority security interest (subject to Permitted Liens) in such property,
including the filing of Uniform Commercial Code financing statements (or equivalent filings in jurisdictions outside of United States)
in such jurisdictions as may be required by any Security Document or by applicable law or as may reasonably be requested by the Administrative
Agent.

 

(b)  
With respect to any interest in any Material Property acquired by any Loan Party (or any Group Member required to become a Loan
Party pursuant to the terms of the Loan Documents) after the Closing Date within 90 days (or such longer period as the Administrative
Agent shall reasonably agree) after the Closing Date or date of acquisition, as applicable, (A) execute and deliver a first priority
Mortgage (subject to Permitted Liens), in favor of the Administrative Agent, for the benefit of the Secured Parties, covering such interest
in real property (provided, that to the extent any property to be subject to a Mortgage is located in a jurisdiction that imposes
mortgage recording taxes, intangibles tax, documentary tax or similar recording fees or taxes, the relevant Mortgage shall not secure
(i) an amount in excess of the Fair Market Value of such property subject thereto unless such jurisdiction imposes a cap on such
taxes or fees such that any secured amounts in excess of the Fair Market Value of such property do not result in additional taxes or
fees or (ii) Obligations in respect of Letters of Credit or the Revolving Facility in those states that impose such a tax on paydowns
or re-advances applicable thereto), (B) if requested by the Administrative Agent, provide the Lenders with a Title Policy in an
amount not to exceed the Fair Market Value of the real property covered thereby, as well as a current ALTA survey thereof (or an existing
ALTA survey, ExpressMap or other similar documentation if available (accompanied if reasonably required by the title company issuing
the applicable Title Policy by a “no-change” affidavit and/or other documents) sufficient to remove the general survey exception
from the Title Policy and to obtain survey coverage in such Title Policy), together with a surveyor’s certificate in form reasonably
acceptable to the Administrative Agent, (C) if requested by the Administrative Agent, deliver to the Administrative Agent customary
legal opinions from counsel in the jurisdictions in which the real property covered by the Mortgage is located relating to the enforceability
of any such Mortgage and the Lien created thereby, which opinions shall be in form and substance reasonably satisfactory to the Administrative
Agent; (D) deliver a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with
respect to each Mortgaged Property and, to the extent a Mortgaged Property is located in a special flood hazard area, a notice about
special flood hazard area status and flood disaster assistance duly executed by the Borrower and each Loan Party relating thereto and
evidence of flood insurance as required under Section 6.5 hereof and (E) provide evidence reasonably satisfactory to the
Administrative Agent of payment by the Borrower of all Title Policy premiums, search and examination charges, escrow charges and related
charges, mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgages and issuance of the
Title Policies and endorsements contemplated by this Section 6.9(b).

 

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(c)  
With respect to any Restricted Subsidiary that is not an Excluded Subsidiary created or acquired after the Closing Date by any
Group Member (which, for the purposes of this Section 6.9(c), shall include any existing Subsidiary that ceases to be an
Excluded Subsidiary) within 90 days after the date of such creation or acquisition (or such longer period as the Administrative
Agent shall reasonably agree), (i) execute and deliver to the Administrative Agent such supplements to the Security Agreement and
additional Security Documents as the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the
benefit of the Secured Parties, a perfected first priority security interest (subject to Permitted Liens) in the Capital Stock of such
Restricted Subsidiary that is owned by any Group Member, (ii) deliver to the Administrative Agent the certificates representing
such Capital Stock (if any), together with undated stock powers, in blank, executed and delivered by a duly authorized officer of the
relevant Group Member, and (iii) cause such Restricted Subsidiary (a) to execute and deliver to the Administrative Agent (x) a
Guarantor Joinder Agreement or such comparable documentation requested by the Administrative Agent to become a Guarantor and (y) a
joinder agreement to the Security Agreement, substantially in the form annexed thereto, (b) to take such actions reasonably necessary
or advisable to grant to the Administrative Agent for the benefit of the Secured Parties a perfected first priority security interest
(subject to Permitted Liens) in the Collateral described in the Security Agreement with respect to such Restricted Subsidiary, including
the filing of UCC financing statements in such jurisdictions as may be required by the Security Agreement or by law or as may be requested
by the Administrative Agent, and (c) to deliver to the Administrative Agent a certificate of such Restricted Subsidiary, substantially
consistent in form to those delivered on the Closing Date pursuant to Section 5.1(e).

 

(d)  
Notwithstanding anything to the contrary in this Agreement, (i) no actions in any jurisdiction outside the United States
shall be required in order to create any security interests in assets located or titled outside of the United States, or to perfect any
security interests in such assets, including any intellectual property registered in any jurisdiction outside the United States (it being
understood that there shall be no security agreements or pledge agreements governed under the laws of any jurisdiction outside the United
States); provided, however, that the foregoing shall not apply to the Equity Interests and assets of a Foreign Subsidiary that becomes
a Guarantor as contemplated by the definition of “Excluded Subsidiary”, it being understood and agreed that if a Foreign
Subsidiary shall become a Guarantor, notwithstanding any of the exclusions or limitations set forth in this Agreement (including the
definition of Excluded Assets) the assets of such Foreign Subsidiary and the Equity Interests of such Foreign Subsidiary shall be pledged
to the Administrative Agent pursuant to arrangements reasonably satisfactory to the Administrative Agent (including, foreign law governed
security documents) subject to limitations reasonably agreed by the Borrower and the Administrative Agent and (ii) in no event shall
control agreements or perfection by control or similar arrangements be required with respect to any Collateral (including deposit or
securities accounts), other than in respect of (x) segregated escrow accounts or similar accounts holding Escrowed Proceeds (including,
for the avoidance of doubt, the Segregated Acquisition Amount Deposit Account) (y) 100% of the equity interests required to be pledged
hereunder and under the Security Documents and (z) notes (including the Global Intercompany Note) required to be pledged under the
Security Documents, nor shall leasehold mortgages, landlord waivers or collateral access agreements be required; and (iii) in no
event shall Collateral include any Excluded Assets unless the Borrower so elects.

 

For
the avoidance of doubt, and without limitation, this Section 6.9 shall apply to any division of a Loan Party and to any division
of a Group Member required to become a Loan Party pursuant to the terms of the Loan Documents and to any allocation of assets to a series
of a limited liability company.

 

6.10  
Credit Ratings. Use commercially reasonable efforts to maintain at all times a credit
rating by each of S&P and Moody’s in respect of the Facilities provided for under this Agreement and a

 

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corporate rating by
S&P and a corporate family rating by Moody’s for the Borrower (it being understood that there shall be no requirement to maintain
any specific credit rating).

 

6.11  
Further Assurances. At any time or from time to time upon the reasonable request of
the Administrative Agent, at the expense of the Borrower, promptly execute, acknowledge and deliver such further documents and do such
other acts and things as the Administrative Agent may reasonably request in order to effect fully the purposes of the Loan Documents.
In furtherance and not in limitation of the foregoing, the Loan Parties shall take such actions as the Administrative Agent may reasonably
request from time to time (including the execution and delivery of guaranties, security agreements, pledge agreements, stock powers,
financing statements and other documents, the filing or recording of any of the foregoing, and the delivery of stock certificates and
other collateral with respect to which perfection is obtained by possession), in each case to the extent required by the applicable Security
Documents to ensure that the Obligations are guaranteed by the Guarantors, on a first priority basis (subject to Permitted Liens) and
are secured by substantially all of the assets (other than those assets specifically excluded by the terms of this Agreement and the
other Loan Documents) of the Loan Parties. For the avoidance of doubt, and without limitation, this Section 6.11 shall apply to any division
of a Loan Party and to any division of a Group Member required to become a Loan Party pursuant to the terms of the Loan Documents and
to any allocation of assets to a series of a limited liability company.

 

6.12  
Designation of Unrestricted Subsidiaries. The Borrower may at any time after the Closing
Date designate any Restricted Subsidiary as an Unrestricted Subsidiary and subsequently re-designate any Unrestricted Subsidiary as a
Restricted Subsidiary if (x) no Default or Event of Default has occurred and is continuing or would result therefrom and (y) after giving
effect to such designation or re-designation, the Borrower would be in compliance with the financial covenants set forth in Section 7.1.
The designation of any Restricted Subsidiary as an Unrestricted Subsidiary after the Closing Date shall constitute an Investment by the
applicable Loan Party or Restricted Subsidiary therein at the date of designation in an amount equal to the Fair Market Value of the
applicable Loan Party’s or Restricted Subsidiary’s investment therein. The designation of any Unrestricted Subsidiary as
a Restricted Subsidiary shall constitute (x) the Incurrence at the time of designation of Indebtedness or Liens of such Subsidiary
existing at such time, and (y) a return on any Investment by the applicable Loan Party or Restricted Subsidiary in Unrestricted
Subsidiaries pursuant to the preceding sentence in an amount equal to the Fair Market Value at the date of such designation of such Loan
Party’s or Restricted Subsidiary’s Investment in such Subsidiary. At any time a Subsidiary is designated as an Unrestricted
Subsidiary hereunder, the Borrower shall cause such Subsidiary to be designated as an Unrestricted Subsidiary (or any similar applicable
term) under any Indebtedness permitted under Section 7.2 that constitutes First Lien Obligations and is in a principal amount in
excess of the greater of $15,000,000 and 20.0% of Consolidated EBITDA, calculated on a Pro Forma Basis as of the most recently ended
Test Period.

 

6.13  
Employee Benefit Plans.

 

(a)  
Maintain, or cause to be maintained, all Single Employer Plans that are presently in existence or may, from time to time, come
into existence, in compliance with the terms of any such Single Employer Plan, ERISA, the Code and all other applicable Laws, except
to the extent the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

(b)  
Maintain, or cause to be maintained, all Foreign Plans that are presently in existence or may, from time to time, come into existence,
in compliance with the terms of any such Plan and all applicable laws, except to the extent the failure to do so would not reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

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6.14  
Use of Proceeds. The Borrower will (a) only use the proceeds of the Loans in accordance
with Sections 4.18(d), (b) only use the proceeds of the Initial Term Loans to finance a portion of the Transactions (including paying
any fees, original issue discount, commissions and expenses associated therewith) and any remaining proceeds to finance the working capital
needs of the Borrower and the Restricted Subsidiaries and for other general corporate purposes of the Borrower and the Restricted Subsidiaries
(including acquisitions and other Investments permitted hereunder), (c) only use the proceeds of the Refinancing Term B-1 Loans on the
Amendment No. 2 Effective Date to prepay Existing Initial Term Loans of Non-Consenting Existing Initial Term Loan Lenders, (d) use the
proceeds of the Incremental Term B-1 Loans for Permitted Acquisitions, working capital and other general corporate purposes, (e) use
the proceeds of the Additional Incremental Term B-1 Loans for the repayment of certain Revolving Loans, Permitted Acquisitions and other
general corporate purposes and (f) use the proceeds of all other Borrowings to finance the working capital needs of the Borrower and
the Restricted Subsidiaries, to the extent constituting a Designated Acquisition Swingline Loan, BRP C Corp Acquisition Indebtedness
and for general corporate purposes of the Borrower and the Restricted Subsidiaries (including acquisitions and other Investments permitted
hereunder).

 

6.15  
Post-Closing Matters. The Borrower will, and will cause each of the Restricted Subsidiaries
to, take each of the actions set forth on Schedule 6.15 within the time period prescribed therefor on such schedule (as such time
period may be extended by the Administrative Agent).

 

6.16  
FCPA; OFAC. The Loan Parties agree to maintain policies, procedures, and internal
controls reasonably designed to ensure compliance with the applicable Anti-Corruption Laws.

 

6.17  
Lender Calls. .

 

The
Borrower will hold a conference call (at a time mutually agreed upon by the Borrower and the Administrative Agent but, in any event,
no earlier than the Business Day following the delivery of applicable financial information pursuant to Sections 6.1(a) and (b)
above) with all Lenders who choose to attend such conference call to discuss the results of the previous fiscal quarter; provided,
that the Borrower shall be deemed to have complied with its obligation to hold such conference calls with Lenders if (i) all Lenders
are afforded the opportunity to join BRP Group’s quarterly earnings calls or (ii) BRP Group is holding a conference call open to
investors or debt holders generally to discuss such results.

 

SECTION
7.

NEGATIVE COVENANTS

 

The
Borrower hereby agrees that, until all Commitments have been terminated and the principal of and interest on each Loan, all fees and
all other expenses or amounts payable under any Loan Document and all other Obligations shall have been paid in full (other than (i)
contingent indemnification and reimbursement obligations for which no claim has been made, (ii) Cash Management Obligations as to which
arrangements reasonably satisfactory to the Cash Management Providers have been made and (iii) obligations under Qualified Hedging Agreements
as to which arrangements reasonably satisfactory to the Qualified Counterparties have been made) and all Letters of Credit have been
canceled, have expired or have been Collateralized or, to the reasonable satisfaction of the applicable Issuing Lender, rolled into another
credit facility, the Borrower will and will cause the Restricted Subsidiaries to, comply with this Section 7.

 

7.1  
Financial Covenants.

 

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(a)  
The Borrower shall not, without the written consent of the Majority Revolving Lenders, permit
the Total First Lien Net Leverage Ratio determined on a Pro Forma Basis as at the last day of (i) the Test Period ending December 31,
2020 to exceed 5.0 to 1.00 and (ii) any Test Period thereafter, commencing with the Test Period ending March 31, 2021, to exceed 6.007.00
to 1.00.

 

(b)  
[Reserved].

 

7.2  
Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred
Stock.

 

(a)  
(i) The Borrower will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness
(including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii) the Borrower will not, and will not permit
any of the Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Borrower and any
of the Restricted Subsidiaries may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock or Preferred
Stock (“Ratio Debt”), in each case, if the Total Net Leverage Ratio does not exceed 4.75 to 1.00, determined on a
Pro Forma Basis; provided, further, however, that the aggregate amount of outstanding Indebtedness (excluding Acquired
Indebtedness not Incurred in connection with or in contemplation of the applicable merger, acquisition or other similar transaction)
that may be Incurred and Disqualified Stock or Preferred Stock that may be issued pursuant to this clause (a) by Restricted
Subsidiaries that are not Guarantors, taken together with the amount of all outstanding Indebtedness Incurred and Disqualified Stock
or Preferred Stock issued by Restricted Subsidiaries that are Non-Guarantor Subsidiaries pursuant to clauses (b)(vi), (b)(xxii)
and (b)(xxx) of this Section 7.2, shall not exceed, at the time such Indebtedness is Incurred, the greater of
$18,750,000 and 25.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended Test Period.

 

(b)  
The limitations set forth in Section 7.2(a) shall not apply to (collectively, “Permitted Debt”):

 

(i)  
Indebtedness Incurred pursuant to this Agreement and any other Loan Document (including any Indebtedness treated as Designated
Acquisition Swingline Loans or Incurred pursuant to Section 2.25, 2.26 or 2.28);

 

(ii)  
[reserved];

 

(iii)  
Indebtedness existing on the Closing Date (other than Indebtedness described in Section 7.2(b)(i)) and, with respect
to any such Indebtedness in excess of $5,000,000 in aggregate principal amount, set forth on Schedule 7.2;

 

(iv)  
Permitted First Priority Refinancing Debt and Permitted Junior Priority Refinancing Debt;

 

(v)  
Permitted Unsecured Refinancing Debt;

 

(vi)  
Indebtedness, Disqualified Stock or Preferred Stock in an amount not to exceed the sum of (x) the Ratio-Based Incremental
Amount plus (y) the Prepayment-Based Incremental Amount plus (z) the Cash-Capped Incremental Amount (in each case minus
amounts Incurred and outstanding under clause (xvi) in respect of Indebtedness originally incurred under clause (y) and (z) of this clause
(vi)) (provided that, for the avoidance of doubt, the amount available to the Borrower pursuant to clauses (y) and
(z) above shall be available at all times and shall not be subject to the ratio test described in foregoing clause (x)
above); provided, that:

 

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(1)  
the amount of Indebtedness that may be Incurred and Disqualified Stock or Preferred Stock that may be issued pursuant to this
clause (vi) by Restricted Subsidiaries that are Non-Guarantor Subsidiaries shall not exceed, at the time such Indebtedness
is Incurred, taken together with all other outstanding Indebtedness Incurred and Disqualified Stock and Preferred Stock issued pursuant
to this proviso (1) and amounts Incurred by Restricted Subsidiaries that are Non-Guarantor Subsidiaries outstanding pursuant
to clauses (a), (b)(xxii) and (b)(xxx) of this Section 7.2, the greater of $18,750,000 and 25.0%
of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended Test Period;

 

(2)  
the Applicable Requirements shall have been satisfied;

 

(3)  
no Indebtedness under this clause (vi) may be Incurred at any time that (x) a Default or Event of Default has occurred
and is continuing or (y) if such Indebtedness is used to finance, in whole or in part, a Limited Condition Transaction, a Default or
Event of Default under Section 9.1(a) or (g) has occurred and is continuing; and

 

(4)  
unless the Borrower elects otherwise, any Indebtedness Incurred pursuant to this clause (vi) shall be deemed Incurred
first under clause (x) above, with the balance Incurred next under clause (y) above and then
under clause (z) above, and, for the avoidance of doubt such Indebtedness may be later reclassified among such clauses pursuant
to the reclassification provisions set forth in Section 2.25;

 

(vii)  
Indebtedness (including Capitalized Lease Obligations, mortgage financings or purchase money obligations) Incurred by the Borrower
or any of the Restricted Subsidiaries, Disqualified Stock issued by the Borrower or any of the Restricted Subsidiaries and Preferred
Stock issued by any Restricted Subsidiaries to finance or Refinance, all or any part of the acquisition, purchase, lease, construction,
design, installation, repair, replacement or improvement of property (real or personal), plant or equipment or other fixed or capital
assets used or useful in the business of the Borrower or the Restricted Subsidiaries (whether through the direct purchase of assets or
the Capital Stock of any Person owning such assets) in an aggregate principal amount not to exceed, at the time such Indebtedness is
Incurred, together with all outstanding Indebtedness outstanding under this clause (vii) (and Indebtedness Incurred to renew,
refund, Refinance, replace, defease or discharge any Indebtedness Incurred pursuant to this clause (vii) (including through
Section 7.2(b)(xvi)), the greater of $18,750,000 and 25.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most
recently ended Test Period (in each case minus amounts Incurred and outstanding under clause (xvi) in respect of Indebtedness
originally Incurred under this clause (vii); provided, that Capitalized Lease Obligations Incurred by the Borrower
or any Restricted Subsidiary pursuant to this clause (vii) in connection with a Sale Leaseback Transaction shall not be subject
to the foregoing limitation so long as the proceeds of such Sale Leaseback Transaction are used by the Borrower or such Restricted Subsidiary
to permanently repay outstanding loans under any credit agreement, debt facility or other Indebtedness secured by a Lien on the assets
subject to such Sale Leaseback Transaction;

 

(viii)  
Indebtedness (x) in respect of any bankers’ acceptance, bank guarantees, discounted bill of exchange or the discounting
or factoring of receivables, warehouse receipt or similar facilities, and reinvestment obligations related thereto, entered into in the
ordinary course of business and (y) constituting reimbursement obligations with respect to letters of credit, bank guarantees, banker’s
acceptances, warehouse receipts, or similar instruments issued or created in the ordinary course of business, including letters of credit
(a) in respect of workers’ compensation claims, health, disability or other employee benefits or property, casualty or liability
insurance or self-insurance or other

 

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Indebtedness
with respect to reimbursement type obligations regarding workers’ compensation claims and (b) that are fully cash collateralized;

 

(ix)  
Indebtedness arising from agreements of the Borrower or a Restricted Subsidiary providing for indemnification, adjustment of purchase
price, earnout or similar obligations, in each case, Incurred in connection with the acquisition or disposition of any business, assets
or a Subsidiary of the Borrower in accordance with the terms of this Agreement;

 

(x)  
shares of Preferred Stock of a Restricted Subsidiary issued to the Borrower or another Wholly Owned Restricted Subsidiary; provided
that any subsequent issuance or transfer of any Capital Stock or any other event that results in any Restricted Subsidiary that holds
such shares of Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer
of any such shares of Preferred Stock (except to the Borrower or another Restricted Subsidiary) shall be deemed, in each case, to be
an issuance of shares of Preferred Stock;

 

(xi)  
Indebtedness or Disqualified Stock of (a) a Restricted Subsidiary to the Borrower or (b) the Borrower or any Restricted
Subsidiary to any Restricted Subsidiary or the Borrower; provided that if the Borrower or a Guarantor Incurs such Indebtedness
or issues such Disqualified Stock to a Restricted Subsidiary that is not a Guarantor, such Indebtedness or Disqualified Stock, as applicable,
is either subject to the Global Intercompany Note or subordinated in right of payment (in a manner similar to the subordination provisions
in the Global Intercompany Note) to the Loans or the Guarantee of such Guarantor, as the case may be; provided, further,
that any subsequent issuance or transfer of any Capital Stock or any other event that results in any Restricted Subsidiary lending such
Indebtedness or Disqualified Stock, as applicable, ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such
Indebtedness or Disqualified Stock, as applicable (except to the Borrower or another Restricted Subsidiary) shall be deemed, in each
case, to be an Incurrence of such Indebtedness or Disqualified Stock, as applicable;

 

(xii)  
Hedging Obligations that are Incurred not for speculative purposes;

 

(xiii)  
obligations (including reimbursement obligations with respect to letters of credit and bank guarantees) in respect of performance,
bid, appeal and surety bonds or other similar bonds and completion guarantees provided by the Borrower or any Restricted Subsidiaries;

 

(xiv)  
Indebtedness, Disqualified Stock or Preferred Stock in an aggregate principal amount or liquidation preference that does not exceed,
at the time such Indebtedness, Disqualified Stock or Preferred Stock is Incurred, taken together with the principal amount or liquidation
preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and Incurred pursuant to this clause (xiv),
the greater of $18,750,000 and 25.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended Test Period
(in each case minus amounts Incurred and outstanding under clause (xvi) in respect of Indebtedness originally Incurred
under this clause (xiv));

 

(xv)  
any guarantee by the Borrower or any of the Restricted Subsidiaries of Indebtedness or other obligations of the Borrower or any
of the Restricted Subsidiaries so long as the Incurrence of such Indebtedness or other obligations by the Borrower or such Restricted
Subsidiary is permitted under the terms of this Agreement; provided that if such Indebtedness is by its express terms subordinated
in right of payment to the Loans or the Guarantee of any Guarantor, any such guarantee of such Guarantor with respect to such Indebtedness
shall be subordinated in right of payment to the Loans and the Guarantees, substantially to the same extent as such Indebtedness is subordinated
to the Loans or any relevant Guarantees, as applicable;

 

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(xvi)  
the Incurrence by the Borrower or any of the Restricted Subsidiaries of Indebtedness or Disqualified Stock or Preferred Stock
of a Restricted Subsidiary that serves to refund, Refinance, replace or defease any Indebtedness, Disqualified Stock or Preferred Stock
Incurred as permitted under clause (a) of this Section 7.2 and clauses (b)(iii), (b)(vi),
(b)(vii), (b)(xiv), (b)(xvi), (b)(xix), (b)(xxii), (b)(xxvii) and (b)(xxx), of this
Section 7.2 or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund or Refinance such Indebtedness,
Disqualified Stock or Preferred Stock, including any additional Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay accrued
and unpaid interest, fees and expenses, including any premium and defeasance costs in connection therewith (subject to the following
proviso, “Refinancing Indebtedness”) prior to its respective maturity; provided, however, that such
Refinancing Indebtedness:

 

(1)  
subject to the Permitted Earlier Maturity Indebtedness Exception, except in connection with a Qualifying Bridge Facility, has
a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is Incurred which is not less than the remaining Weighted
Average Life to Maturity of the Indebtedness, being refunded, Refinanced, replaced or defeased;

 

(2)  
subject to the Permitted Earlier Maturity Indebtedness Exception, except in connection with a Qualifying Bridge Facility, has
a Stated Maturity Date which is no earlier than the earlier of the Stated Maturity Date of the Indebtedness being refunded, Refinanced,
replaced or defeased;

 

(3)  
to the extent such Refinancing Indebtedness Refinances (x) Subordinated Indebtedness, such Refinancing Indebtedness is Subordinated
Indebtedness, (y) Indebtedness constituting Junior Lien Obligations or unsecured, such Refinancing Indebtedness constitutes Junior
Lien Obligations or is unsecured, as applicable, or (z) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness is Disqualified
Stock or Preferred Stock;

 

(4)  
is Incurred in an aggregate principal amount (or if issued with original issue discount an aggregate issue price) that is equal
to or less than the sum of (x) the aggregate principal amount (or if issued with original issue discount, the aggregate accreted
value) then outstanding of the Indebtedness being Refinanced plus (y) the amount necessary to pay accrued and unpaid interest,
fees, underwriting discounts and expenses, including any premium and defeasance costs Incurred in connection with such Refinancing; and

 

(5)  
shall not include Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary that is not a Loan Party that Refinances
Indebtedness, Disqualified Stock or Preferred Stock of a Loan Party;

 

(xvii)  
Indebtedness arising from (x) Cash Management Services or (y) the honoring by a bank or other financial institution
of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business; provided that, in
the case of clause (y), such Indebtedness is extinguished within ten (10) Business Days of its Incurrence;

 

(xviii)  
Indebtedness of the Borrower or any Restricted Subsidiary supported by a letter of credit or bank guarantee issued pursuant to
this Agreement, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee;

 

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(xix)  
Contribution Indebtedness (minus amounts Incurred and outstanding under clause (xvi) in respect of Indebtedness
originally Incurred under this clause (xix));

 

(xx)  
Indebtedness of the Borrower or any Restricted Subsidiary consisting of (x) the financing of insurance premiums or (y) take-or-pay
obligations contained in supply arrangements;

 

(xxi)  
Indebtedness Incurred by a Receivables Subsidiary in a Qualified Receivables Financing that is not recourse to the Borrower or
any Restricted Subsidiary other than a Receivables Subsidiary (except for Standard Securitization Undertakings);

 

(xxii)  
(x) Indebtedness, Disqualified Stock or Preferred Stock of the Borrower or any of the Restricted Subsidiaries Incurred to
finance an acquisition of any assets (including Capital Stock), business, product line or Person or (y) Acquired Indebtedness of
the Borrower or any of the Restricted Subsidiaries; provided that, in either case, after giving effect to the transactions that
result in the Incurrence or issuance thereof, on a Pro Forma Basis, the Borrower would be permitted to Incur at least $1.00 of additional
Indebtedness as Ratio Debt (with respect to unsecured Indebtedness only) or pursuant to the Ratio-Based Incremental Facility (with respect
to the lien priorities set forth therein); provided, that (i) the aggregate principal amount of outstanding Indebtedness Incurred
or assumed by Restricted Subsidiaries which are Non-Guarantor Subsidiaries under this clause (xxii), taken together with
amounts Incurred by Restricted Subsidiaries that are Non-Guarantor Subsidiaries outstanding under clauses (a), (b)(vi)
and (b)(xxx) of this Section 7.2 (and minus amounts Incurred and outstanding under clause (xvi) in respect of
Indebtedness of Non-Guarantor Subsidiaries originally Incurred under this clause (xxii)) shall not exceed, at the time such Indebtedness
is Incurred, the greater of $18,750,000 and 25.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended
Test Period and (ii) any Indebtedness (other than MFN Excluded Loans) in the form of term loans denominated in Dollars Incurred under
this clause (xxii) within the first twelve months after the Closing Date that is secured by a Lien on the Collateral on a
pari passu basis with the First Lien Obligations shall be subject to the “MFN” provisions set forth in Section 2.25(a)(vii)
(as though such Indebtedness were an incremental facility and only to the extent such MFN provisions would apply to such Indebtedness
if it were an incremental facility);

 

(xxiii)  
Indebtedness Incurred by the Borrower or any Restricted Subsidiary to the extent that the net proceeds thereof are promptly deposited
to defease or to satisfy and discharge any Indebtedness permitted to be Incurred hereunder (and any exchange notes or refinancing indebtedness
with respect thereto);

 

(xxiv)  
Guarantees (A) Incurred in the ordinary course of business in respect of obligations of (or to) suppliers, customers, franchisees,
lessors and licensees that, in each case, are non-Affiliates or (B) otherwise constituting Investments permitted under this Agreement;

 

(xxv)  
Indebtedness issued by the Borrower or any of the Restricted Subsidiaries to current or former employees, directors, managers
and consultants thereof, their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity
Interests of the Borrower, or any direct or indirect parent company of the Borrower to the extent permitted by Section 7.3(b)(iv);

 

(xxvi)  
Indebtedness owed on a short-term basis of no longer than 30 days to banks and other financial institutions Incurred in the
ordinary course of business of the Borrower and the Restricted Subsidiaries with such banks or financial institutions that arises in
connection with ordinary banking arrangements to manage cash balances of the Borrower and the Restricted Subsidiaries;

 

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(xxvii)  
Indebtedness Incurred by joint ventures of the Borrower or any of the Restricted Subsidiaries and Restricted Subsidiaries that
are Non-Guarantor Subsidiaries, in an outstanding aggregate principal amount that does not exceed, at the time such Indebtedness is Incurred,
taken together with all other Indebtedness Incurred pursuant to this clause (xxvii), the greater of $22,500,000 and 30.0%
of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended Test Period (in each case minus outstanding
amounts Incurred under clause (xvi) in respect of Indebtedness originally Incurred under this clause (xxvii);

 

(xxviii) 
customer deposits and advance payments received in the ordinary course of business from customers for goods purchased in the ordinary
course of business;

 

(xxix)  
Indebtedness Incurred pursuant to Sale Leaseback Transactions;

 

(xxx)  
[Reserved];

 

(xxxi)  
to the extent constituting Indebtedness, deferred compensation of the current and former employees, directors, managers and consultants
(or their respective estates, spouses or former spouses) of the Borrower, any direct or indirect parent company of the Borrower or any
Restricted Subsidiaries Incurred in the ordinary course of business;

 

(xxxii)  
to the extent constituting Indebtedness, advances in respect of transfer pricing or shared services agreements that are permitted
by clause (30) of the definition of “Permitted Investments”.

 

(c)  
For purposes of determining compliance with this Section 7.2, in the event that an item of Indebtedness, Disqualified
Stock or Preferred Stock (or any portion thereof) meets the criteria of more than one of the categories of Permitted Debt or is entitled
to be Incurred as Ratio Debt, the Borrower shall, in its sole discretion, at the time of Incurrence, divide and/or classify, or at any
later time redivide and/or reclassify, such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) in one
or more of the categories (including in part in one category and in part in another category set forth in this Section 7.2
(including Ratio Debt)). The Borrower will also be entitled to divide, classify or reclassify an item of Indebtedness in more than one
of the types of Permitted Debt described in clauses (a) and (b) of this Section 7.2 without giving pro
forma effect to the Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) Incurred as part of the same transaction
or substantially concurrent series of related transactions pursuant to clause (a) or clause (b) of this Section 7.2
when calculating the amount of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) that may be Incurred
pursuant to this Section 7.2. Other than with respect to clauses (b)(i) of this Section 7.2, if at
any time that the Borrower would be entitled to have incurred any then-outstanding item of Indebtedness as Ratio Debt or pursuant to
clause (b)(vi)(x) of this Section 7.2, such item of Indebtedness shall be automatically reclassified into an item
of Indebtedness incurred as Ratio Debt or pursuant to clause (b)(vi)(x) of this Section 7.2. For the avoidance of doubt,
Indebtedness Incurred under clauses (b)(i) of this Section 7.2 shall be deemed to have been Incurred solely pursuant to such clause
(even if such Indebtedness has been refinanced pursuant to Section 7.2(b)(xvi) and shall not be permitted to be reclassified and shall
be deemed to have been Incurred solely pursuant to such specific subclause and shall not be permitted to be reclassified as Indebtedness
Incurred under the other subclause thereof. For purposes of determining compliance with this Section 7.2, with respect to
Indebtedness Incurred, reborrowings of amounts previously repaid pursuant to “cash sweep” provisions or any similar provisions
that provide that Indebtedness is deemed to be repaid daily (or otherwise periodically) shall only be deemed for purposes of this Section 7.2
to have been Incurred on the date such Indebtedness was first Incurred and not on the date of any subsequent reborrowing thereof.
Accrual of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form
of

 

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additional
Indebtedness with the same terms, the payment of dividends on Disqualified Stock or Preferred Stock in the form of additional shares
of Disqualified Stock or Preferred Stock of the same class, the accretion of liquidation preference and increases in the amount of Indebtedness
outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an Incurrence of Indebtedness,
Disqualified Stock or Preferred Stock for purposes of this Section 7.2 (and, for the avoidance of doubt, no such amounts
count against any “basket” amount under this Section 7.2). For the avoidance of doubt, the outstanding principal
amount of any particular Indebtedness shall be counted only once. Guarantees of, or obligations in respect of letters of credit relating
to, Indebtedness that is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the
determination of such amount of Indebtedness, provided that the Incurrence of the Indebtedness represented by such guarantee or
letter of credit, as the case may be, was in compliance with this Section 7.2.

 

(d)  
For purposes of determining compliance with any Dollar-denominated restriction on the Incurrence of Indebtedness, the Dollar-equivalent
principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in
effect on the date such Indebtedness was Incurred, in the case of term debt, or first committed or first Incurred (whichever yields the
lower Dollar-equivalent amount), in the case of revolving credit debt; provided that if such Indebtedness is Incurred to Refinance
other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable Dollar-denominated restriction
to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such Dollar-denominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed
the principal amount of such Indebtedness being Refinanced plus the aggregate amount of fees, underwriting discounts, premiums
and other costs and expenses incurred in connection with such refinancing.

 

7.3  
Limitation on Restricted Payments; Restricted Debt Payments; Investments.

 

(a)  
The Borrower will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly:

 

(i)  
pay any dividend or make any distribution on account of the Borrower or any Restricted Subsidiary’s Equity Interests, including
any payment made in connection with any merger or consolidation involving the Borrower (other than dividends, payments or distributions
(A) payable solely in Equity Interests (other than Disqualified Stock) of the Borrower or to the Borrower and the Restricted Subsidiaries;
or (B) by a Restricted Subsidiary to the Borrower or another Restricted Subsidiary or any other Person that owns Equity Interests
in a non-Wholly Owned Restricted Subsidiary that is a Subsidiary of the Borrower (so long as, in the case of any dividend or distribution
payable on or in respect of any class or series of securities issued by a non-Wholly Owned Restricted Subsidiary, the Borrower, or a
Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in
such class or series of securities);

 

(ii)  
purchase or otherwise acquire or retire for value any Equity Interests of the Borrower or any other direct or indirect parent
of the Borrower;

 

(all such payments and other actions
set forth in clauses (i) and (ii) above, other than any of the exceptions thereto, being collectively referred to
as “Restricted Payments”).

 

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(a)  
The provisions of Section 7.3(a) will not prohibit:

 

(i)  
the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of declaration
would have complied with the provisions of this Agreement;

 

(ii)  
(A) the redemption, repurchase, defeasance, exchange, retirement or other acquisition of any Equity Interests (“Retired
Capital Stock”) of the Borrower or any direct or indirect parent of the Borrower or any Restricted Subsidiary of the Borrower
or any Restricted Subsidiary, in exchange for, or out of the proceeds of a sale (other than to the Borrower or a Restricted Subsidiary)
of, Equity Interests of any direct or indirect parent of the Borrower (other than any Disqualified Stock or any Equity Interests sold
to the Borrower or any Subsidiary of the Borrower or to an employee stock ownership plan or any trust established by the Borrower or
any of its Subsidiaries) (collectively, including any such contributions, “Refunding Capital Stock”); (B) if
immediately prior to the retirement of Retired Capital Stock, the payment of dividends thereon was permitted under clause (vi)
of this Section 7.3(b), the payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the
proceeds of which were used to redeem, repurchase, defease, retire or otherwise acquire any Equity Interests of any direct or indirect
parent company of the Borrower) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were
declarable and payable on such Retired Capital Stock immediately prior to such retirement; and (C) the payment of accrued dividends
on the Retired Capital Stock out of the proceeds of the sale (other than to the Borrower or a Restricted Subsidiary) (other than to a
Subsidiary of the Borrower or to an employee stock ownership plan or any trust established by the Borrower or any of its Subsidiaries)
of Refunding Capital Stock;

 

(iii)  
the declaration and payment of Restricted Payments in an aggregate amount not to exceed, at the time such dividends are paid and
after giving effect thereto, the Available Amount at such time, so long as no Event of Default has occurred and is continuing or would
result therefrom;

 

(iv)  
the purchase, retirement, redemption or other acquisition (or dividends to the Borrower or any other direct or indirect parent
of the Borrower to finance any such purchase, retirement, redemption or other acquisition) for value of Equity Interests of any other
direct or indirect parent of the Borrower (or to pay any tax liabilities arising from such actions) held by any future, present or former
employee, director or consultant of the Borrower or any direct or indirect parent of the Borrower or any Subsidiary of the Borrower or
their estates or the beneficiaries of such estates upon the death, disability, retirement or termination of employment (or directorship
or consulting arrangement) of such Person or pursuant to any management equity plan, stock option plan, profits interests plan or any
other management or employee benefit plan or other similar agreement or arrangement (including any separation, stock subscription, shareholder
or partnership agreement); provided, however, that the aggregate amounts paid under this clause (iv) do not
exceed the greater of $7,500,000 and 10.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended Test
Period in any calendar year, which shall increase to the greater of $11,250,000 and 15.0% of Consolidated EBITDA determined on a Pro
Forma Basis as of the most recently ended Test Period subsequent to the consummation of a public Equity Offering by the Borrower or any
direct or indirect parent (with unused amounts in any calendar year being carried over to the next succeeding calendar year and with
the amounts in the next succeeding calendar year being carried back to the preceding calendar year to the extent of a reduction in the
next succeeding calendar year’s availability by the aggregate amounts being carried back); provided, further, however,
that such amount in any calendar year may be increased by an amount not to exceed:

 

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(1)  
the cash proceeds received after the Closing Date by the Borrower, any direct or indirect parent of the Borrower and the Restricted
Subsidiaries from the sale of Equity Interests (other than Disqualified Stock) to members of management, directors or consultants of
the Borrower and the Restricted Subsidiaries (provided that the amount of such cash proceeds utilized for any such repurchase,
retirement, other acquisition or dividend will not increase the amount available for Restricted Payments under the Available Amount);
plus

 

(2)  
the cash proceeds of key man life insurance policies received after the Closing Date by the Borrower, any direct or indirect parent
of the Borrower and the Restricted Subsidiaries;

 

(3)  
the amount of any cash bonuses or other compensation otherwise payable to any future, present or former director, employee, consultant
or distributor of the Borrower, a direct or indirect parent thereof, or the Restricted Subsidiaries that are foregone in return for the
receipt of Equity Interests of the Borrower or a direct or indirect equity holder thereof, or any Restricted Subsidiary; plus

 

(4)  
payments made in respect of withholding or other similar Taxes payable upon repurchase, retirement or other acquisition or retirement
of Equity Interests of the Borrower or the Restricted Subsidiaries or otherwise pursuant to any employee or director equity plan, employee
or director stock option or profits interest plan or any other employee or director benefit plan or any agreement;

 

provided
that the Borrower may elect to apply all or any portion of the aggregate increase contemplated by clauses (1) through (4)
above in any calendar year; in addition, cancellation of Indebtedness owing to the Borrower or any of its Restricted Subsidiaries
from any current, former or future officer, director or employee (or any permitted transferees thereof) of the Borrower or any of the
Restricted Subsidiaries (or any direct or indirect parent company thereof), in connection with a repurchase of Equity Interests of the
Borrower from such Persons will not be deemed to constitute a Restricted Payment for purposes of this Section 7.3 or any
other provisions of this Agreement;

 

(v)  
the payment of dividends or distributions to holders of any class or series of Disqualified Stock of the Borrower or any of the
Restricted Subsidiaries and any Preferred Stock of any Restricted Subsidiaries issued or Incurred in accordance with Section 7.2;

 

(vi)  
(A) the payment of dividends or distributions to holders of any class or series of Designated Preferred Stock (other than
Disqualified Stock) issued after the Closing Date, (B) the payment of dividends to any direct or indirect parent of the Borrower,
the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated Preferred Stock (other
than Disqualified Stock) of any direct or indirect parent of the Borrower issued after the Closing Date; and (C) the payment of
dividends on Refunding Capital Stock that is Preferred Stock in excess of the dividends declarable and payable thereon pursuant to clause (b)(ii)
of this Section 7.3; provided, however, that (x) for the most recently ended Test Period preceding
the date of issuance of such Designated Preferred Stock or the declaration of such dividends on Refunding Capital Stock that is Preferred
Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a Pro Forma Basis, the Fixed Charge Coverage
Ratio of the Borrower and the Restricted Subsidiaries would have been at least 2.00 to 1.00 and (y) the aggregate amount of dividends
declared and paid pursuant to this clause (vi) does not exceed the net cash proceeds actually received by the Borrower from
any such sale of Designated Preferred Stock (other than Disqualified Stock issued after the Closing Date and securities issued in connection
with the Cure Right);

 

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(vii)  
Restricted Payments in an aggregate amount not to exceed an amount equal to Retained Declined Proceeds (to the extent not otherwise
applied);

 

(viii)  
[Reserved];

 

(ix)  
Restricted Payments in an amount equal to the amount of Excluded Contributions made;

 

(x)  
Restricted Payments in an aggregate amount, at the time such Restricted Payment is made, taken together with all other Restricted
Payments made pursuant to this clause (x), not to exceed (i) the greater of $15,000,000 and 20.0% of Consolidated EBITDA
determined on a Pro Forma Basis as of the most recently ended Test Period less (ii) the aggregate amount of Restricted Debt Payments
made pursuant to Section 7.3(d)(iv);

 

(xi)  
the distribution, as a dividend or otherwise, of shares of Capital Stock of, or other securities of, or Indebtedness owed to the
Borrower or a Restricted Subsidiary by, Unrestricted Subsidiaries;

 

(xii)  
for any taxable period for which the Borrower is a partnership (or disregarded as separate from a partnership) for U.S. federal
income tax purposes, distributions to enable the owners of the Borrower to pay their tax liabilities attributable to the taxable income
of the Borrower in an amount not to exceed the product of (A) the taxable income of the Borrower for U.S. federal income tax purposes
for such taxable period, determined without regard to any adjustments pursuant to Section 704(c), 743 or 754 of the Code, and (B) the
highest marginal tax rate for an individual or a corporation resident in the State of Florida, as then in effect for such taxable period,
taking into account the character of the taxable income in question and the deductibility of state and local income taxes for U.S. federal
income tax purposes and any limitations thereon;

 

(xiii)  
the payment of dividends, other distributions or other amounts to, or the making of loans to, any direct or indirect parent of
the Borrower, in the amount required for such entity to:

 

(1)  
pay amounts equal to the amounts required for any direct or indirect parent of the Borrower to pay fees and expenses (including
franchise, capital stock, minimum and other similar Taxes) required to maintain its corporate existence, customary salary, bonus and
other benefits payable to, and indemnities provided on behalf of, officers, employees, directors or consultants of the Borrower or any
direct or indirect parent of the Borrower, if applicable, and general corporate operating and overhead expenses (including legal, accounting
and other professional fees and expenses) of any direct or indirect parent of the Borrower, if applicable, in each case to the extent
such fees, expenses, salaries, bonuses, benefits and indemnities are attributable to the ownership or operation of the Borrower, if applicable,
and its Subsidiaries;

 

(2)  
so long as no Event of Default has occurred and is continuing under Section 9.1(a), pay, if applicable, amounts equal to
amounts required for any direct or indirect parent of the Borrower, if applicable, to pay interest and/or principal on Indebtedness the
proceeds of which have been contributed to the Borrower or any Restricted Subsidiary and that has been guaranteed by, or is otherwise
considered Indebtedness of, the Borrower or any of the Restricted Subsidiaries Incurred in accordance with Section 7.2; and

 

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(3)  
pay fees and expenses Incurred by any direct or indirect parent, other than to Affiliates of the Borrower, related to any investment,
acquisition, disposition, sale, merger or equity or debt offering or similar transaction of such parent, whether or not successful but;

 

(xiv)  
 (i) repurchases of Equity Interests deemed to occur upon exercise of stock options, warrants, restricted stock units or similar
instruments if such Equity Interests represent a portion of the exercise price of such options, warrants, restricted stock units or similar
instruments and (ii) in connection with the withholding of a portion of the Equity Interests granted or awarded to a director or
an employee to pay for the Taxes payable by such director or employee upon such exercise, grant or award;

 

(xv)  
purchases of receivables pursuant to a Receivables Repurchase Obligation in connection with a Qualified Receivables Financing
and the payment or distribution of Receivables Fees;

 

(xvi)  
any Restricted Payments made in order to permit BRP Group to meet its obligations under the Tax Receivables Agreement (as in effect
on the date hereof);

 

(xvii)  
other Restricted Payments; provided that after giving effect to such Restricted Payment (i) no Event of Default has occurred
or is continuing and (ii) the Total Net Leverage Ratio, determined on a Pro Forma Basis as of the most recently ended Test Period, does
not exceed 3.75 to 1.00;

 

(xviii)  
[reserved];

 

(xix)  
any Restricted Payments made in connection with the consummation of the Transactions;

 

(xx)  
the payment of cash in lieu of the issuance of fractional shares of Equity Interests upon exercise or conversion of securities
exercisable or convertible into Equity Interests of the Borrower or upon any dividend, split or combination thereof, or upon any Permitted
Acquisition; and

 

(xxi)  
payments or distributions, in the nature of satisfaction of dissenters’ rights, pursuant to or in connection with a consolidation,
merger or transfer of assets that complies with the provisions of this Agreement applicable to mergers, consolidations and transfers
of all or substantially all the property and assets of the Borrower and its Subsidiaries;

 

provided,
however, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses (b)(vi) and (b)(x)
of this Section 7.3, no Default or Event of Default shall have occurred and be continuing or would occur as a consequence
thereof.

 

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(c)  
The Borrower will not, and will not permit any of the Restricted Subsidiaries to, directly
or indirectly, make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each case prior
to any scheduled repayment or scheduled maturity, any Junior Indebtedness (other than the payment, redemption, repurchase, defeasance,
acquisition or retirement of (A) Junior Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment
or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance, acquisition or retirement
and (B) Indebtedness permitted under Section 7.2(b)(xi)) (all such payments and other actions set forth above, other
than any of the exceptions thereto, being collectively referred to as “Restricted Debt Payments”).

 

(d)  
The provisions of Section 7.3(c) will not prohibit:

 

(i)  
Restricted Debt Payments in respect of Junior Indebtedness of the Borrower or any Restricted Subsidiary (x) constituting
Acquired Indebtedness not Incurred in connection with or in contemplation of the applicable merger, acquisition or other similar transaction
or (y) made by exchange for, or out of the proceeds of the sale of, new Indebtedness of the Borrower or a Restricted Subsidiary
that is Incurred in accordance with Section 7.2 so long as:

 

(1)  
the principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount (or accreted
value, if applicable) of the Junior Indebtedness being so redeemed, repurchased, defeased, exchanged, acquired or retired for value (plus
accrued and unpaid interest, fees, underwriting discounts and expenses, including any premium and defeasance costs, required to be
paid under the terms of the instrument governing the Junior Indebtedness being so redeemed, repurchased, defeased, exchanged, acquired
or retired plus any fees and expenses Incurred in connection therewith, including reasonable tender premiums);

 

(2)  
subject to the Permitted Earlier Maturity Indebtedness Exception, except in connection with a Qualifying Bridge Facility, if such
original Junior Indebtedness was subordinated to the Facilities or the related Guarantee, as the case may be, such new Indebtedness must
be subordinated to the Facilities or the related Guarantee at least to the same extent as such Junior Indebtedness so purchased, exchanged,
redeemed, repurchased, defeased, exchanged, acquired or retired;

 

(3)  
subject to the Permitted Earlier Maturity Indebtedness Exception, except in connection with a Qualifying Bridge Facility, such
Indebtedness has a final scheduled maturity date no earlier than the earlier of (x) the final scheduled maturity date of the Junior
Indebtedness being so redeemed, repurchased, defeased, exchanged, acquired or retired or (y) the Latest Maturity Date; and

 

(4)  
such Indebtedness has a Weighted Average Life to Maturity that is not less than the remaining Weighted Average Life to Maturity
of the Junior Indebtedness being so redeemed, repurchased, defeased, acquired or retired;

 

(ii)  
Restricted Debt Payments in respect of Junior Indebtedness, Disqualified Stock or Preferred Stock of the Borrower and the Restricted
Subsidiaries in connection with a “change of control” (as defined in the documentation governing such Junior Indebtedness,
Disqualified Stock or Preferred Stock) or an Asset Sale that is permitted under Section 7.5 and the other terms of this Agreement;
provided that, prior to such payment, purchase, redemption, defeasance or other acquisition or retirement for value, (x) in
the case of a change of control, no Event of Default shall have occurred and be continuing under Section 9.1(l) or the Commitments
shall have been terminated and the full

 

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amount
of all Obligations (other than contingent indemnification and reimbursement obligations for which no claim has been made) shall have
been indefeasibly paid in full in cash or (y) in the case of an Asset Sale, the Borrower (or a third party to the extent permitted
by this Agreement) has applied such amounts in accordance with Section 2.11, as the case may be;

 

(iii)  
the making of Restricted Debt Payments in an aggregate amount not to exceed, at the time such Restricted Debt Payments are made
and after giving effect thereto, the Available Amount at such time, so long no Event of Default has occurred and is continuing or would
result therefrom;

 

(iv)  
Restricted Debt Payments in an aggregate amount, at the time such Restricted Debt Payment is made, taken together with all other
Restricted Debt Payments made pursuant to this clause (iv), not to exceed (i) the greater of $15,000,000 and 20.0% of Consolidated
EBITDA determined on a Pro Forma Basis as of the most recently ended Test Period less (ii) the aggregate amount of Restricted
Payments made pursuant to Section 7.3(b)(x);

 

(v)  
Restricted Debt Payments in an aggregate amount not to exceed an amount equal to Retained Declined Proceeds to the extent required
to be paid under the terms of the instrument governing the Junior Indebtedness being so repaid and to the extend not otherwise applied;

 

(vi)  
other Restricted Debt Payments; provided that after giving effect to such Restricted Debt Payment (i) no Event of Default
has occurred or is continuing and (ii) the Total Net Leverage Ratio, determined on a Pro Forma Basis as of the most recently ended Test
Period, does not exceed 3.75 to 1.00;

 

(vii)  
the redemption, repurchase, defeasance, exchange, retirement or other acquisition of any Junior Indebtedness of the Borrower or
any Restricted Subsidiary, in exchange for, or out of the proceeds of a sale (other than to the Borrower or a Restricted Subsidiary)
of, Equity Interests of any direct or indirect parent of the Borrower (other Refunding Capital Stock); (B) if immediately prior
to the retirement of such Junior Indebtedness, the redemption was permitted under clause (vi) of this Section 7.3(b),
the payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem,
repurchase, defease, retire or otherwise acquire any Equity Interests of any direct or indirect parent company of the Borrower) in an
aggregate amount per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Retired
Capital Stock immediately prior to such retirement; and (C) the payment of accrued dividends on the Retired Capital Stock out of
the proceeds of the sale (other than to the Borrower or a Restricted Subsidiary) (other than to a Subsidiary of the Borrower or to an
employee stock ownership plan or any trust established by the Borrower or any of its Subsidiaries) of Refunding Capital Stock; and

 

(viii)  
Restricted Debt Payments to permit the Borrower or any direct or indirect parent of the Borrower to make cash payments on its
Indebtedness at such times and in such amounts as are necessary so that such Indebtedness will not have “significant original issue
discount” and thus will not be treated as an “applicable high yield discount obligation” within the meaning of Section 163(i)
of the Code;

 

provided,
however, that at the time of, and after giving effect to, any Restricted Debt Payment permitted under clauses (d)(ii),
(d)(iv) and (d)(vi) of this Section 7.3, no Default or Event of Default shall have occurred and be continuing
or would occur as a consequence thereof.

 

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(e)  
The Borrower will not, and will not permit any of the Restricted Subsidiaries to, directly
or indirectly, make any Investment other than a Permitted Investment.

 

7.4  
Dividend and Other Payment Restrictions Affecting Subsidiaries. The Borrower will
not, and will not permit any Restricted Subsidiary that is not a Loan Party to, directly or indirectly create or otherwise cause to become
effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary that is not a Loan Party to:

 

(a)  
(i) pay dividends or make any other distributions to the Borrower or any of the Restricted Subsidiaries (1) on its Capital
Stock or (2) with respect to any other interest or participation in, or measured by, its profits; or (ii) pay any Indebtedness
owed to the Borrower or any of the Restricted Subsidiaries;

 

(b)  
make loans or advances to the Borrower or any of the Restricted Subsidiaries; or

 

(c)  
sell, lease or transfer any of its properties or assets to the Borrower or any of the Restricted Subsidiaries;

 

except in each
case for such encumbrances or restrictions existing under or by reason of:

 

(1)  
contractual encumbrances or restrictions in effect or entered into or existing on the Closing Date, including pursuant to this
Agreement, Hedging Obligations and the other documents relating to the Transactions;

 

(2)  
this Agreement, the Loan Documents, and, in each case, any guarantees thereof;

 

(3)  
applicable law or any applicable rule, regulation or order;

 

(4)  
any agreement or other instrument of a Person acquired by the Borrower or any Restricted Subsidiary which was in existence at
the time of such acquisition or at the time it merges with or into the Borrower or any Restricted Subsidiary or assumed in connection
with the acquisition of assets from such Person (but not created in contemplation thereof), which encumbrance or restriction is not applicable
to any Person, or the properties or assets of any Person and its Subsidiaries, other than the Person, or the property or assets of the
Person and its Subsidiaries, so acquired or the property or assets so assumed;

 

(5)  
contracts or agreements for the sale of assets, including customary restrictions (A) with respect to a Restricted Subsidiary imposed
pursuant to an agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted
Subsidiary (B) restricting assignment of any agreement entered into in the ordinary course of business, (C) constituting restrictions
on cash or other deposits imposed by customers under contracts entered into in the ordinary course of business and (D) which apply by
reason of any applicable Law, rule, regulation or order or are required by any Governmental Authority having jurisdiction over the Borrower
or any Restricted Subsidiary;

 

(6)  
Indebtedness secured by a Lien that is otherwise permitted to be Incurred pursuant to Sections 7.2 and 7.7
that limits the right of the debtor to dispose of the assets securing such Indebtedness;

 

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(7)  
restrictions on cash or other deposits or net worth imposed by customers;

 

(8)  
customary provisions in joint venture, operating or other similar agreements, asset sale agreements and stock sale agreements
in connection with the entering into of such transaction;

 

(9)  
purchase money obligations for property acquired and Capitalized Lease Obligations in the ordinary course of business that impose
restrictions of the nature described in clause (c) of this Section 7.4 on the property so acquired;

 

(10)  
customary provisions contained in leases, licenses, contracts and other similar agreements (including leases or licenses of intellectual
property) that impose restrictions of the type described in clause (c) of this Section 7.4 on the property subject
to such lease, license, contract or agreement;

 

(11)  
any encumbrance or restriction of a Receivables Subsidiary effected in connection with a Qualified Receivables Financing; provided,
that such restrictions apply only to such Receivables Subsidiary;

 

(12)  
Indebtedness, Disqualified Stock or Preferred Stock of the Borrower or any Restricted Subsidiary that is permitted pursuant to
Section 7.2; provided that either (A) such encumbrances and restrictions contained in any agreement or instrument
will not materially affect the Borrower’s ability to make anticipated principal or interest payment on the Loans (as determined
by the Borrower in good faith) or (B) such encumbrances and restrictions are not materially more restrictive, taken as a whole,
than those, in the case of encumbrances, outstanding on the Closing Date, and in the case of restrictions, contained in this Agreement
or any Refinancing Indebtedness with respect thereto;

 

(13)  
any Permitted Investment;

 

(14)  
arising or agreed to in the ordinary course of business, not relating to any Indebtedness, and that do not, individually or in
the aggregate, detract from the value of property or assets of the Borrower or any Restricted Subsidiary in any manner material to the
Borrower or any Restricted Subsidiary;

 

(15)  
existing under, by reason of or with respect to Refinancing Indebtedness; provided that the encumbrances and restrictions
contained in the agreements governing that Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those
contained in the agreements governing the Indebtedness being Refinanced;

 

(16)  
restrictions or conditions contained in any trading, netting, operating, construction, service, supply, purchase, sale or other
agreement to which the Borrower or any of the Restricted Subsidiaries is a party entered into in the ordinary course of business; provided
that such agreement prohibits the encumbrance of solely the property or assets of the Borrower or such Restricted Subsidiary that
are the subject of such agreement, the payment rights arising thereunder or the proceeds thereof and does not extend to any other asset
or property of the Borrower or such Restricted Subsidiary or the assets or property of any other Restricted Subsidiary;

 

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(17)  
restrictions that are, taken as a whole, in the good faith judgment of the Borrower, no more restrictive with respect to the Borrower
or any Restricted Subsidiary than customary market terms for Indebtedness of such type (and, in any event, are no more restrictive than
the restrictions contained in this Agreement), or that the Borrower shall have determined in good faith will not affect its obligation
or ability to make any payments required hereunder; and

 

(18)  
any encumbrances or restrictions of the type referred to in clauses (a), (b) and (c) of this Section 7.4
imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings
of the contracts, instruments or obligations referred to in clauses (1) through (17) above; provided that such
amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good
faith judgment of the Borrower, not materially more restrictive as a whole with respect to such dividend and other payment restrictions
than those contained in the dividend or other payment restrictions prior to such amendment, modification, restatement, renewal, increase,
supplement, refunding, replacement or refinancing.

 

For purposes of
determining compliance with this Section 7.4, (i) the priority of any Preferred Stock in receiving dividends or liquidating
distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability
to make distributions on Capital Stock and (ii) the subordination of loans or advances made to the Borrower or a Restricted Subsidiary
to other Indebtedness Incurred by the Borrower or such Restricted Subsidiary shall not be deemed a restriction on the ability to make
loans or advances.

 

7.5  
Asset Sales. the Borrower will not, and will not permit any of the Restricted Subsidiaries
to, cause or make an Asset Sale, unless:

 

(a)  
the Borrower, any of the Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at
least equal to the Fair Market Value of the Equity Interests issued or assets sold or otherwise disposed of;

 

(b)  
immediately before and after giving effect to such Asset Sale, no Event of Default has occurred and is continuing; and

 

(c)  
except in the case of a Permitted Asset Swap, at least 75% of the consideration therefor received by the Borrower or such Restricted
Subsidiary, as the case may be, is in the form of Cash Equivalents, provided, however, that the amount of:

 

(i)  
any liabilities (as shown on the Borrower’s or such Restricted Subsidiary’s most recent balance sheet or in the notes
thereto or, if Incurred, increased or decreased subsequent to the date of such balance sheet, such liabilities that would have been reflected
in the Borrower’s or such Restricted Subsidiary’s balance sheet or in the notes thereto if such incurrence, increase or decrease
had taken place on the date of such balance sheet, as reasonably determined in good faith by the Borrower) of the Borrower or any Restricted
Subsidiary (other than liabilities that are by their terms subordinated to the Obligations) that are assumed by the transferee (or a
third party on behalf of the transferee) of any such assets or Equity Interests pursuant to an agreement that releases or indemnifies
the Borrower or such Restricted Subsidiary (or a third party on behalf of the transferee), as the case may be, from further liability;

 

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(ii)  
any notes or other obligations or other securities or assets received by the Borrower or such Restricted Subsidiary from such
transferee that are converted by the Borrower or such Restricted Subsidiary into cash within 180 days of the receipt thereof (to the
extent of the cash received);

 

(iii)  
any Designated Non-cash Consideration received by the Borrower or any of the Restricted Subsidiaries in such Asset Sale having
an aggregate Fair Market Value, at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each
item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value),
taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii) that is at that time
outstanding, not to exceed the greater of $18,750,000 and 25.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most
recently ended Test Period;

 

(iv)  
Indebtedness of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Asset Sale, to the extent
that the Borrower and each other Restricted Subsidiary are released from any Guarantee of such Indebtedness in connection with such Asset
Sale; and

 

(v)  
consideration consisting of Indebtedness of the Borrower or any Guarantor received from Persons who are not the Borrower or a
Restricted Subsidiary,

 

shall each be deemed
to be Cash Equivalents for the purposes of this Section 7.5;

 

After
the Borrower’s or any Restricted Subsidiary’s receipt of the Net Cash Proceeds of any Asset Sale pursuant to clauses (a)
to (c) above, the Borrower or such Restricted Subsidiary shall apply the Net Cash Proceeds from such Asset Sale if and to
the extent required by Section 2.11(c).

 

7.6  
Transactions with Affiliates.

 

(a)  
The Borrower will not, and will not permit any Restricted Subsidiaries to, directly or indirectly, make any payment to, or sell,
lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or
make or amend any transaction or series of transactions, contract, agreement, understanding, loan, advance or guarantee with, or for
the benefit of, any Affiliate of the Borrower (each of the foregoing, an “Affiliate Transaction”) involving aggregate
consideration in excess of the greater of $7,500,000 and 10.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most
recently ended Test Period, unless such Affiliate Transaction is on terms that are not materially less favorable to the Borrower or the
relevant Restricted Subsidiary than those that could have been obtained in a comparable transaction by the Borrower or such Restricted
Subsidiary with an unrelated Person; provided that (i) any such transaction or series of transactions, contract, agreement, understanding,
loan, advance or guarantee with, or for the benefit of, any Person entered into or made or amended prior to the date on which such Person
becomes an Affiliate of the Borrower and (ii) any amendment thereto or renewal or replacement thereof entered into on or after the date
on which such Person becomes an Affiliate of the Borrower (so long as any such amendment, renewal or replacement is not materially less
favorable to the Borrower and its Restricted Subsidiaries, taken as a whole, compared to the applicable agreement as in effect on the
date on which such Person becomes an Affiliate of the Borrower (as reasonably determined by the Borrower in good faith) shall not constitute
an Affiliate Transaction.

 

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(b)  
The foregoing provisions will not apply to the following:

 

(i)  
(A) transactions between or among the Borrower and/or any of the Restricted Subsidiaries (or an entity that becomes a Restricted
Subsidiary as a result of such transaction), (B) [reserved] and (C) any merger or consolidation between or among the Borrower
and/or any direct parent company of the Borrower, provided that such parent company shall have no material liabilities and no
material assets other than Cash Equivalents and the Capital Stock of the Borrower and such merger or consolidation is otherwise in compliance
with the terms of this Agreement; provided, that upon giving effect to such merger or consolidation, the surviving Person shall
be (or shall immediately become) a Loan Party and otherwise comply with the requirements of Section 6.9, and 100% of the
Capital Stock of such surviving Person shall be pledged to the Administrative Agent in accordance with the terms of the Loan Documents;

 

(ii)  
(A) Restricted Payments permitted by Section 7.3 (including any payments that are exceptions to the definition of
“Restricted Payments” set forth in Section 7.3(a)(i) and (ii)) and (B) Permitted Investments;

 

(iii)  
transactions pursuant to compensatory, benefit and incentive plans and agreements with officers, directors, managers or employees
of the Borrower (or any direct or indirect parent thereof) or any of the Restricted Subsidiaries approved by a majority of the Board
of Directors of the Borrower (or the compensation, nominating or governance committee thereof) in good faith;

 

(iv)  
the payment of reasonable and customary fees and reimbursements paid to, and indemnity and similar arrangements provided on behalf
of, former, current or future officers, directors, managers, employees or consultants of the Borrower or any Restricted Subsidiary or
any direct or indirect parent of the Borrower;

 

(v)  
licensing of trademarks, copyrights or other intellectual property to permit the commercial exploitation of intellectual property
between or among the Group Members;

 

(vi)  
transactions in which the Borrower or any of the Restricted Subsidiaries, as the case may be, delivers to the Administrative Agent
a letter from an Independent Financial Advisor stating that such transaction is fair to the Borrower or such Restricted Subsidiary from
a financial point of view or meets the requirements of clause (a) of this Section 7.6;

 

(vii)  
payments, loans or advances to employees or consultants or guarantees in respect thereof (or cancellation of loans, advances or
guarantees) for bona fide business purposes in the ordinary course of business;

 

(viii)  
any agreement, instrument or arrangement (including, without limitation, any arrangement with The Villages Invesco, LLC, a Florida
limited liability company) as in effect as of the Closing Date or any transaction contemplated thereby, or any amendment thereto or renewal
or replacement thereof (so long as any such amendment, renewal or replacement is not materially less favorable to the Borrower and its
Restricted Subsidiaries, taken as a whole, compared to the applicable agreement as in effect on the Closing Date as reasonably determined
by the Borrower in good faith);

 

(ix)  
the existence of, or the performance by the Borrower or any of the Restricted Subsidiaries of its obligations under the terms
of any stockholders or similar agreement (including any registration rights agreement or purchase agreement related thereto) to which
it is a party as of the Closing Date, and any amendment thereto or similar transactions, agreements or arrangements which it may enter
into thereafter; provided, however, that the existence of, or the performance by the

 

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Borrower
or any of the Restricted Subsidiaries of its obligations under, any future amendment to any such existing transaction, agreement or arrangement
or under any similar transaction, agreement or arrangement entered into after the Closing Date shall only be permitted by this clause (ix)
to the extent that the terms of any such existing transaction, agreement or arrangement together with all amendments thereto, taken
as a whole, or new transaction, agreement or arrangement are not otherwise more disadvantageous to the Lenders in any material respect
when taken as a whole as compared to the original transaction, agreement or arrangement as in effect on the Closing Date;

 

(x)  
(A) transactions with customers, clients, suppliers or purchasers or sellers of goods or services, in each case in the ordinary
course of business and otherwise in compliance with the terms of this Agreement, which are fair to the Borrower and the Restricted Subsidiaries
in the reasonable determination of the Borrower, and are on terms at least as favorable as might reasonably have been obtained at such
time from an unaffiliated party or (B) transactions with joint ventures or Unrestricted Subsidiaries entered into in the ordinary
course of business;

 

(xi)  
any transaction effected as part of a Qualified Receivables Financing;

 

(xii)  
[Reserved];

 

(xiii)  
[Reserved];

 

(xiv)  
[Reserved];

 

(xv)  
any contribution to the capital of the Borrower or any Restricted Subsidiary and any issuance by the Borrower of its Capital Stock;

 

(xvi)  
transactions permitted by, and complying with, the provisions of Section 7.5 or Section 7.8;

 

(xvii)  
[reserved];

 

(xviii)  
pledges of Equity Interests of Unrestricted Subsidiaries;

 

(xix)  
any employment agreements, option plans and other similar arrangements entered into by the Borrower or any of the Restricted Subsidiaries
with employees or consultants;

 

(xx)  
the issuances of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of,
employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors
of the Borrower or any direct or indirect parent of the Borrower or of a Restricted Subsidiary, as appropriate, in good faith;

 

(xxi)  
the entering into of any tax sharing agreement or arrangement and any payments permitted by Section 7.3(b)(xii) or,
with respect to franchise or similar Taxes, by Section 7.3(b)(xiii)(1);

 

(xxii)  
transactions to effect the Transactions and the payment of all fees and expenses related to the Transactions;

 

(xxiii)  
any employment, consulting, service or termination agreement, or customary indemnification arrangements, entered into by the Borrower
or any of the Restricted Subsidiaries with current, former or future officers, employees and consultants of the Borrower or any of

 

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its
Restricted Subsidiaries and the payment of compensation to officers, employees and consultants of the Borrower or any of its Restricted
Subsidiaries (including amounts paid pursuant to employee benefit plans, employee stock option or similar plans), in each case in the
ordinary course of business;

 

(xxiv)  
transactions with a Person that is an Affiliate of the Borrower solely because the Borrower, directly or indirectly, owns Equity
Interests in, or controls, such Person entered into in the ordinary course of business;

 

(xxv)  
transactions with Affiliates solely in their capacity as holders of Indebtedness or Equity Interests of the Borrower or any of
its Subsidiaries, so long as such transaction is with all holders of such class (and there are such non-Affiliate holders) and such Affiliates
are treated no more favorably than all other holders of such class generally;

 

(xxvi)  
any agreement that provides customary registration rights to the equity holders of the Borrower or any direct or indirect parent
of the Borrower and the performance of such agreements;

 

(xxvii)  
payments to and from and transactions with any joint venture in the ordinary course of business; provided such joint venture
is not controlled by an Affiliate (other than a Restricted Subsidiary) of the Borrower; and

 

(xxviii) 
transactions between the Borrower or any of its Restricted Subsidiaries and any Person that is an Affiliate thereof solely due
to the fact that a director of such Person is also a director of the Borrower or any direct or indirect parent of the Borrower; provided,
however, that such director abstains from voting as a director of the Borrower or such direct or indirect parent of the Borrower,
as the case may be, on any matter involving such other Person.

 

7.7  
Liens. The Borrower will not, and will not permit any of the Restricted Subsidiaries
to, create or Incur any Lien (other than Permitted Liens) that secures obligations under any Indebtedness on any asset or property of
the Borrower or any Restricted Subsidiary.

 

7.8  
Fundamental Changes. The Borrower will not, nor will it permit any of the Restricted
Subsidiaries to, directly or indirectly merge, dissolve, liquidate, amalgamate or consolidate with or into another Person, or Dispose
of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter
acquired) to or in favor of any Person except that, (other than in the case of clause (e) below) so long as no Event of Default
would result therefrom:

 

(a)  
(i) any Restricted Subsidiary (other than the Borrower) may merge, amalgamate or consolidate with (1) the Borrower (including
a merger, the purpose of which is to reorganize the Borrower into a new jurisdiction in any State of the United States); provided
that the Borrower shall be the continuing or surviving Person or the surviving Person shall expressly assume the obligations of the
Borrower pursuant to documents reasonably acceptable to the Administrative Agent or (2) any one or more other Restricted Subsidiaries;
provided, further, that when any Guarantor is merging with another Restricted Subsidiary that is not a Loan Party (A) 
to the extent constituting an Investment, such Investment must be an Investment permitted hereunder and (B) to the extent constituting
a Disposition, such Disposition must be permitted hereunder;

 

(b)  
(i)(i) any Restricted Subsidiary that is not a Loan Party may merge, dissolve, liquidate, amalgamate or consolidate with
or into any other Restricted Subsidiary that is not a Loan Party and (ii)(ii) any Restricted Subsidiary may liquidate or dissolve,
or the Borrower or any Restricted Subsidiary

 

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may
(if the validity, perfection and priority of the Liens securing the Obligations is not adversely affected thereby) change its legal form
if the Borrower determines in good faith that such action is in the best interest of the Borrower and its Subsidiaries and is not disadvantageous
to the Lenders in any material respect (it being understood that in the case of any dissolution of a Restricted Subsidiary that is a
Guarantor, such Subsidiary shall at or before the time of such dissolution transfer its assets to another Restricted Subsidiary that
is a Guarantor in the same jurisdiction or a different jurisdiction reasonably satisfactory to the Administrative Agent unless such Investment
or Disposition of assets is permitted hereunder; and in the case of any change in legal form, a Restricted Subsidiary that is a Guarantor
will remain a Guarantor unless such Guarantor is otherwise permitted to cease being a Guarantor hereunder);

 

(c)  
any Restricted Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the
Borrower or to any Restricted Subsidiary; provided that if the transferor in such a transaction is a Guarantor, then to the extent
constituting an Investment, such Investment must be a Permitted Investment and, if applicable, Indebtedness of a Restricted Subsidiary
which is not a Loan Party in accordance with Section 7.2, respectively;

 

(d)  
[reserved];

 

(e)  
any Restricted Subsidiary (other than a Borrower) may merge, liquidate, amalgamate or consolidate with any other Person in order
to effect an Investment permitted hereunder; provided that (i) the continuing or surviving Person shall, to the extent subject
to the terms hereof, have complied with the requirements of Section 6.9, (ii) to the extent constituting an Investment,
such Investment must be an Investment permitted hereunder and (iii) to the extent constituting a Disposition, such Disposition must
be permitted hereunder;

 

(f)  
the Borrower and the other Restricted Subsidiaries may consummate the Transactions;

 

(g)  
subject to clause (a) above, any Restricted Subsidiary may merge, dissolve, liquidate, amalgamate, consolidate with
or into another Person in order to effect a Disposition permitted pursuant to Section 7.5;

 

(h)  
any Investment permitted hereunder may be structured as a merger, consolidation or amalgamation; and

 

(i)  
Borrower may merge, amalgamate or consolidate with any other Person; provided that
(i) the Borrower shall be the continuing or surviving corporation or (ii) if the Person formed by or surviving any such merger or consolidation
is not the Borrower (any such Person, the “Successor Company”), (A) the Successor Company shall be an entity organized
or existing under the laws of the United States, any state within the United States or the District of Columbia, (B) the Successor Company
shall expressly assume all the obligations of the Borrower under this Agreement and the other Loan Documents to which the Borrower is
a party pursuant to a supplement hereto or thereto in form reasonably satisfactory to the Administrative Agent, (C) the Successor Company
shall cause such amendments, supplements or other instruments to be executed, delivered, filed and recorded (and deliver a copy of same
to the Administrative Agent) in such jurisdictions as may be required by applicable law to preserve and protect the Lien of the Security
Documents on the Collateral owned by or transferred to the Successor Company, together with such financing statements as may be required
to perfect any security interests in such Collateral which may be perfected by the filing of a financing statement under the UCC of the
relevant states, (D) the Collateral owned by or transferred to the Successor Company shall (a) continue to constitute Collateral under
the Security Documents, (b) be subject to the Lien in favor of the Administrative Agent for the benefit of the Secured Parties, and (c)
not be subject to any Lien other than

 

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Permitted
Liens, in each case except as otherwise permitted by the Loan Documents, the property and assets of the Person which is merged or consolidated
with or into the Successor Company, to the extent that they are property or assets of the types which would constitute Collateral under
the Security Documents, shall be treated as after-acquired property and the Successor Company shall take such action as may be reasonably
necessary to cause such property and assets to be made subject to the Lien of the Security Documents in the manner and to the extent
required in the Security Documents, (E) each Guarantor, unless it is the other party to such merger or consolidation, shall have confirmed
that its Guarantor Obligations shall apply to the Successor Company’s obligations under the Loan Documents, (F) each Guarantor,
unless it is the other party to such merger or consolidation, shall have by a supplement to the Security Agreement and other applicable
Security Documents confirmed that its obligations thereunder shall apply to the Successor Company’s obligations under the Loan
Documents, (G) if requested by the Administrative Agent, each mortgagor of a Mortgaged Property, unless it is the other party to such
merger or consolidation, shall have by an amendment to or restatement of the applicable Mortgage (or other instrument reasonably satisfactory
to the Administrative Agent) confirmed that its obligations thereunder shall apply to the Successor Company’s obligations under
the Loan Documents, (H) the Borrower shall have delivered to the Administrative Agent an officer’s certificate and opinion of counsel,
each in form and substance reasonably satisfactory to the Administrative Agent, and each stating that such merger or consolidation and
such supplement to this Agreement or any Security Document preserves the enforceability of this Agreement and the Security Documents
and the perfection of the Liens under the Security Documents and (I) the Borrower shall have delivered to the Administrative Agent any
documentation and other information about the Successor Borrower as may be reasonably requested in writing by the Administrative Agent
or any Lender through the Administrative Agent that the Administrative Agent or such Lender, as applicable, reasonably determines is
required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations,
including the PATRIOT Act (and the results thereof shall have been reasonably satisfactory to the Administrative Agent or such Lender,
as applicable); provided, further, that if the foregoing are satisfied, the Successor Company will succeed to, and be substituted
for, the Borrower under this Agreement.

 

7.9  
Use of Proceeds. The Loan Parties will not, directly or, indirectly, use the proceeds of
any Loans, or lend, contribute or otherwise make available such proceeds to any Subsidiary (and any joint ventures of the Loan Parties
or any of their Subsidiaries), joint venture partner or other Person, to fund any activities of or business with any Sanctioned Person,
or in any country or territory, that, at the time of such funding, is itself the subject of Sanctions Laws, or in any other manner that
will result in a violation by any of the Loan Parties or any other party hereto of Sanctions Laws or applicable Anti-Corruption Laws.

 

7.10  
Changes in Fiscal Periods. The Borrower will not permit the fiscal year of the Borrower
to end on a day other than December 31 or change the Borrower’s method of determining fiscal quarters, in each case other
than with prior written notice to the Administrative Agent.

 

7.11  
Negative Pledge Clauses. The Borrower will not, and will not permit any of the Restricted
Subsidiaries to, enter into or suffer to exist or become effective any agreement that prohibits or limits the ability of the Borrower
or any Group Member to create, incur, assume or suffer to exist any Lien upon any of its property or revenues, whether now owned or hereafter
acquired, to secure its obligations under the Loan Documents to which it is a party other than (a) this Agreement and the other
Loan Documents, (b) any agreements evidencing or governing any purchase money Liens or Capitalized Lease Obligations otherwise permitted
hereby (in which case, any prohibition or limitation shall only be effective against the assets financed thereby), (c) customary
restrictions on the assignment of leases, licenses and contracts, (d) any agreement in effect at the time any Person becomes a Restricted
Subsidiary; provided that such agreement was not entered into in contemplation of such Person becoming

 

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a Restricted Subsidiary,
(e) customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary (or the assets
of a Restricted Subsidiary) pending such sale; provided that such restrictions and conditions apply only to the Restricted Subsidiary
that is to be sold (or whose assets are to be sold) and such sale is permitted hereunder), (f) restrictions and conditions existing
on the Closing Date and any amendments or modifications thereto so long as such amendment or modification does not expand the scope of
any such restriction or condition in any material respect, (g) restrictions under agreements evidencing or governing or otherwise
relating to Indebtedness of Non-Guarantor Subsidiaries permitted under Section 7.2; provided that such Indebtedness is only with
respect to the assets of Restricted Subsidiaries that are Non-Guarantor Subsidiaries and (h) customary provisions in joint venture
agreements, limited liability company operating agreements, partnership agreements, stockholders agreements and other similar agreements.

 

7.12  
Lines of Business. The Borrower shall not, and shall not permit any of the Restricted
Subsidiaries to, fundamentally and substantively alter the character of the business of the Borrower and its Subsidiaries, taken as a
whole, from the business conducted by the Borrower and its Subsidiaries, taken as a whole, on the Closing Date and any other business
activities that are extensions thereof or otherwise incidental, synergistic, reasonably related or ancillary to any of the foregoing
(and businesses acquired in connection with any Permitted Acquisition or other Investment).

 

7.13  
Amendments to Organizational Documents. The Borrower will not, and will not permit
any Restricted Subsidiary to, terminate or agree to any amendment, supplement, or other modification of (pursuant to a waiver or otherwise),
or waive any of its rights under, any Organizational Documents of the Borrower or any Restricted Subsidiary, if, in light of the then-existing
circumstances, a Material Adverse Effect would be reasonably likely to exist or result after giving effect to such termination, amendment,
supplement or other modification or waiver, except, in each case, as otherwise permitted by the Loan Documents; provided that in each
case, if a certificate of the Borrower shall have been delivered to the Administrative Agent for posting to the Lenders at least five
(5) Business Days prior to such amendment or other modification, together with a reasonably detailed description of such amendment or
modification, stating that the Borrower has determined in good faith that such terms and conditions satisfy such foregoing requirement,
and the Required Lenders shall not have notified the Borrower and the Administrative Agent that they disagree with such determination
(including a statement of the basis upon which each such Lender disagrees) within such five (5) Business Day period, then such certificate
shall be conclusive evidence that such terms and conditions satisfy such foregoing requirement.

 

SECTION
8.

GUARANTEE

 

8.1  
The Guarantee. Each Guarantor hereby jointly and severally guarantees, as a primary
obligor and not as a surety, to each Secured Party and their respective successors and assigns, the prompt payment in full when due (whether
at stated maturity, by required prepayment, declaration, demand, by acceleration or otherwise) of (1) the principal of and interest (including
any interest, fees, costs or charges that would accrue but for the provisions of the Bankruptcy Code after any bankruptcy or insolvency
petition under the Bankruptcy Code or any similar law of any other jurisdiction) on (i) the Loans made by the Lenders to the Borrower,
(ii) the Incremental Loans made by the Incremental Term Lenders or Incremental Revolving Lenders to the Borrower, (iii) the Other Term
Loans and Other Revolving Loans made by any lender thereof, and (iv) the Notes held by each Lender of the Borrower (2) each Designated
Acquisition Swingline Loan and (3) all other Obligations from time to time owing to the Secured Parties by the Borrower or the borrower
of any Designated Acquisition Swingline Loan (such obligations under clauses (1) and (2) being herein collectively called the “Guarantor
Obligations”). Each Guarantor hereby jointly and severally agrees that, if the Borrower or the borrower of any Designated

 

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Acquisition Swingline
Loan shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guarantor Obligations,
such Guarantor will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of
time of payment or renewal of any of the Guarantor Obligations, the same will be promptly paid in full when due (whether at extended
maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 

8.2  
Obligations Unconditional.

 

(a)  
The obligations of the Guarantors under Section 8.1, respectively, shall constitute a guaranty of payment (and not
of collection) and to the fullest extent permitted by applicable Requirements of Law, are absolute, irrevocable and unconditional, joint
and several, irrespective of the value, genuineness, validity, regularity or enforceability of the Guarantor Obligations under this Agreement,
the Notes, if any, or any other agreement or instrument referred to herein or therein, or any substitution, release or exchange of any
other guarantee of or security for any of the Guarantor Obligations, and, in each case, irrespective of any other circumstance whatsoever
that might otherwise constitute a legal or equitable discharge or defense of a surety by any Guarantor (except for payment in full).
Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter
or impair the liability of any Guarantor hereunder, which shall, in each case, remain absolute, irrevocable and unconditional under any
and all circumstances as described above:

 

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

 

(ii)  
any of the acts mentioned in any of the provisions of this Agreement or the Notes, if any, or any other agreement or instrument
referred to herein or therein shall be done or omitted;

 

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

 

(iv)  
any Lien or security interest granted to, or in favor of, the Issuing Lenders or any Lender or the Administrative Agent as security
for any of the Guarantor Obligations shall fail to be valid or perfected or entitled to the expected priority;

 

(v)  
the release of any other Guarantor pursuant to Section 8.9, 10.10 or otherwise; or

 

(vi)  
except for the payment in full of the Guarantor Obligations, any other circumstance whatsoever which may or might in any manner
or to any extent vary the risk of any Guarantor as an obligor in respect of the Guarantor Obligations or which constitutes, or might
be construed to constitute, an equitable or legal discharge of the Borrower or any Guarantor for the Guarantor Obligations, or of such
Guarantor under the Guarantee or of any security interest granted by any Guarantor, whether in a proceeding under any Debtor Relief Law
or in any other instance.

 

(b)  Each
of the Guarantors hereby expressly waives diligence, presentment, demand of payment, marshaling, protest and all notices whatsoever,
and any requirement that any Secured Party

 

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exhaust
any right, power or remedy or proceed against the Borrower under this Agreement or the Notes, if any, or any other agreement or instrument
referred to herein or therein, or against any other person under any other guarantee of, or security for, any of the Guarantor Obligations.
Each of the Guarantors waive any and all notice of the creation, renewal, extension, waiver, termination or accrual of any of the Guarantor
Obligations and notice of or proof of reliance by any Secured Party upon the guarantee made under this Section 8 (this “Guarantee”)
or acceptance of the Guarantee, and the Guarantor Obligations, and any of them, shall conclusively be deemed to have been created, contracted
or incurred in reliance upon the Guarantee, and all dealings between the Borrower or the borrower of Designated Acquisition Swingline
Loan, on the one hand, and the Secured Parties, on the other hand, shall likewise be conclusively presumed to have been had or consummated
in reliance upon the Guarantee. The Guarantee shall be construed as a continuing, absolute, irrevocable and unconditional guarantee of
payment without regard to any right of offset with respect to the Guarantor Obligations at any time or from time to time held by the
Secured Parties and the obligations and liabilities of the Guarantors hereunder shall not be conditioned or contingent upon the pursuit
by the Secured Parties or any other person at any time of any right or remedy against the Borrower or against any other person which
may be or become liable in respect of all or any part of the Guarantor Obligations or against any collateral security or guarantee therefor
or right of offset with respect thereto. The Guarantee shall remain in full force and effect and be binding in accordance with and to
the extent of its terms upon the Guarantors and the successors and assigns thereof, and shall inure to the benefit of the applicable
Lenders, and their respective successors and assigns, notwithstanding that from time to time during the term of this Agreement there
may be no Guarantor Obligations outstanding.

 

8.3  
Reinstatement. The obligations of the Guarantors under this Section 8 shall be
automatically reinstated if and to the extent that for any reason any payment by or on behalf of the Borrower or any other Loan Party
in respect of the Guarantor Obligations is rescinded or must be otherwise restored by any holder of any of the Guarantor Obligations,
whether as a result of any proceedings in bankruptcy or reorganization or otherwise.

 

8.4  
No Subrogation. Each Guarantor hereby agrees that until the payment and satisfaction
in full in cash of all Guarantor Obligations (other than (i) contingent indemnification and reimbursement obligations for which no claim
has been made, (ii) Letters of Credit that have been Collateralized or otherwise backstopped, (iii) Cash Management Obligations as to
which arrangements reasonably satisfactory to the Cash Management Providers have been made and (iv) obligations under Qualified Hedging
Agreements as to which arrangements reasonably satisfactory to the Qualified Counterparties have been made) and the expiration and termination
of the Commitments under this Agreement, it shall waive any claim and shall not exercise any right or remedy, direct or indirect, arising
by reason of any performance by it of its Guarantee, whether by subrogation, right of contribution or otherwise, against the Borrower,
as applicable, or any other Guarantor of any of the Guarantor Obligations or any security for any of the Guarantor Obligations.

 

8.5  
Remedies. Each Guarantor jointly and severally agrees that, as between the Guarantors
and the Lenders, the obligations of the Borrower under this Agreement and the Notes, if any, may be declared to be forthwith due and
payable as provided in Section 9 (and shall be deemed to have become automatically due and payable in the circumstances provided
in Section 9) for purposes of Section 8.1, notwithstanding any stay, injunction or other prohibition preventing such declaration
(or such obligations from becoming automatically due and payable) as against the Borrower or any Guarantor and that, in the event of
such declaration (or such obligations being deemed to have become automatically due and payable, or the circumstances occurring where
Section 9 provides that such obligations shall become due and payable), such obligations (whether or not due and payable by the
Borrower) shall forthwith become due and payable by the Guarantors for purposes of Section 8.1.

 

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8.6  
[Reserved].

 

8.7  
Continuing Guarantee. The Guarantee made by the Guarantors is a continuing guarantee
of payment (and not of collection), and shall apply to all Guarantor Obligations whenever arising.

 

8.8  
General Limitation on Guarantor Obligations. In any action or proceeding involving
any federal, state, provincial or territorial, corporate, limited partnership or limited liability company law, or any applicable state,
federal or foreign bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations
of any Guarantor under Section 8.1 would otherwise be held or determined to be void, voidable, invalid or unenforceable, or subordinated
to the claims of any other creditors, on account of the amount of its liability under Section 8.1, then, notwithstanding any other
provision to the contrary, the amount of such liability of such Guarantor shall, without any further action by such Guarantor, any Loan
Party or any other Person, be automatically limited and reduced to the highest amount (after giving effect to the right of contribution
established in Section 8.10) that is valid and enforceable and not subordinated to the claims of other creditors as determined in
such action or proceeding. To effectuate the foregoing, the Administrative Agent and the Guarantors hereby irrevocably agree that the
Guarantor Obligations of each Guarantor in respect of the Guarantee at any time shall be limited to the maximum amount as will result
in the Guarantor Obligations of such Guarantor with respect thereto hereof not constituting a fraudulent transfer or conveyance after
giving full effect to the liability under such Guarantee and its related contribution rights but before taking into account any liabilities
under any other guarantee by such Guarantor. For purposes of the foregoing, all guarantees of such Guarantor other than its Guarantee
will be deemed to be enforceable and payable after the Guarantee. To the fullest extent permitted by applicable law, this Section 8.8
shall be for the benefit solely of creditors and representatives of creditors of each Guarantor and not for the benefit of such Guarantor
or the holders of any Equity Interest in such Guarantor.

 

8.9  
Release of Guarantors. A Guarantor shall be automatically released from its obligations
hereunder in the event that such Guarantor shall become an Excluded Subsidiary or that all the Capital Stock of such Guarantor shall
be sold, transferred or otherwise disposed of to a Person other than a Loan Party, in each case in a transaction permitted by this Agreement;
provided that the release of any Guarantor from its obligations under the Loan Documents solely as a result of such Guarantor
becoming an Excluded Subsidiary of the type described in clause (i) of the definition thereof shall only be permitted if such Guarantor
becomes such an Excluded Subsidiary pursuant to a transaction with a third party that is not otherwise an Affiliate of the Borrower and
such transaction was not for the primary purpose of release the Guarantee of such Guarantor. In connection with any such release of a
Guarantor, provided that the Borrower shall have provided the Administrative Agent with such confirmation or documents as the Administrative
Agent shall reasonably request, the Administrative Agent shall execute and deliver to the Borrower, at the Borrower’s expense,
all UCC termination statements and other documents that the Borrower shall reasonably request to evidence such release.

 

8.10  
Right of Contribution. Each Guarantor hereby agrees that to the extent that a Guarantor
shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive
contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment, such Guarantor
shall be entitled to seek and receive contribution from and against any other Guarantor hereunder which has not paid its proportionate
share of such payment. Each Guarantor’s right of contribution shall be subject to the terms and conditions of Section 8.4.
The provisions of this Section 8.10 shall in no respect limit the obligations and liabilities of any Guarantor to the Administrative
Agent and the other Secured Parties, and each Guarantor shall remain liable to the Administrative Agent and the other Secured Parties
for the full amount guaranteed by such Guarantor hereunder. Notwithstanding the foregoing, no Excluded ECP Guarantor shall have any

 

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obligations or liabilities
to any Guarantor, the Administrative Agent or any other Secured Party with respect to Excluded Swap Obligations.

 

8.11  
Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally
and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor
all of its obligations under the Guarantee in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall
only be liable under this Section 8.11 for the maximum amount of such liability that can be hereby incurred without rendering its
obligations under this Section 8.11, or otherwise under the Guarantee, as it relates to such Loan Party, voidable under applicable
law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP
Guarantor under this Section 8.11 shall remain in full force and effect until the termination and release of all Obligations in
accordance with the terms of this Agreement. Each Qualified ECP Guarantor intends that this Section 8.11 constitute, and this Section 8.11
shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all
purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

SECTION
9.

EVENTS OF DEFAULT

 

9.1  
Events of Default. An Event of Default shall occur if any of the following events
shall occur and be continuing; provided that any requirement for the giving of notice, the lapse of time, or both, has been satisfied
(any such event, an “Event of Default”):

 

(a)  
the Borrower shall fail to pay (x) any principal of any Loan or Reimbursement Obligation when due in accordance with the terms
hereof or (y) any interest on any Loan or Reimbursement Obligation, or any other amount payable hereunder or under any other Loan Document
within five (5) Business Days after any such interest or other amount becomes due in accordance with the terms hereof; or

 

(b)  
any representation or warranty made or deemed made by any Loan Party herein or in any other Loan Document or that is contained
in any certificate, document or financial or other written statement furnished by it at any time under or in connection with this Agreement
or any such other Loan Document shall prove to have been inaccurate in any material respect (except where such representations and warranties
are already qualified by materiality, in which case, in any respect) on or as of the date made or deemed made (or if any representation
or warranty is expressly stated to have been made as of a specific date, inaccurate in any material respect as of such specific date);
or

 

(c)  
any Loan Party shall default in the observance or performance of any agreement contained in Section 6.4(a)(i) (in
respect of the Borrower), Section 6.7(a), or Section 7 of this Agreement (other than Section 7.1);
or

 

(d)  
subject to Section 9.3, the Borrower shall default in the observance or performance of its agreement contained in
Section 7.1; provided that, notwithstanding anything to the contrary in this Agreement or any other Loan Document,
a breach of the requirements of Section 7.1 shall not constitute an Event of Default for purposes of any Facility other than
the Revolving Facility; or

 

(e)  
any Loan Party shall default in the observance or performance of any other agreement contained in this Agreement or any other
Loan Document (other than as provided in paragraphs (a) through (d) of this Section 9.1), and such default shall
continue unremedied for a period of 30 days after notice to the Borrower from the Administrative Agent or the Required Lenders; or

 

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(f)  
any Group Member shall (i) default in making any payment of any principal of any Indebtedness (including any Guarantee Obligation
in respect of Indebtedness, but excluding the Loans) on the scheduled or original due date with respect thereto; or (ii) default
in making any payment of any interest on any such Indebtedness beyond the period of grace, if any, provided in the instrument or agreement
under which such Indebtedness was created; or (iii) default in the observance or performance of any other agreement or condition
relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other
event shall occur or condition exist, the effect of which default or other event or condition is to (x) cause, or to permit the holder
or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice
or passage of time if required, such Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness
constituting a Guarantee Obligation) to become payable or (y) to cause, with the giving of notice or passage of time if required, any
Group Member to purchase or redeem or make an offer to purchase or redeem such Indebtedness prior to its stated maturity; provided
that a default, event or condition described in clauses (i), (ii) or (iii) of this Section 9.1(f) shall
not at any time constitute an Event of Default unless, at such time, one or more defaults, events or conditions of the type described
in clauses (i), (ii) and (iii) of this Section 9.1(f) shall have occurred and be continuing
with respect to Indebtedness the outstanding principal amount of which exceeds in the aggregate the greater of $15,000,000 and 20.0%
of Consolidated EBITDA calculated on a Pro Forma Basis as of the most recently ended Test Period; provided, further, that
clause (iii) of this Section 9.1(f) shall not apply to secured Indebtedness that becomes due as a result of the
voluntary Disposition of the property or assets securing such Indebtedness, if such Disposition is permitted hereunder and such Indebtedness
that becomes due is paid upon such Disposition; provided, further, that clause (iii) of this Section 9.1(f)
shall not apply to Indebtedness held exclusively by the Borrower or any of its Restricted Subsidiaries; provided, further,
that this Section 9.1(f) shall apply only if such default is unremedied and is not waived by the holders of such Indebtedness
prior to the termination of the Commitments and acceleration of the Loans pursuant to Section 9.2 and excludes termination
events or equivalent events with respect to Swap Agreements; or

 

(g)  
(i) the Borrower, any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) or any Significant Subsidiary shall
commence any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating
to bankruptcy, insolvency, reorganization, suspension of payments, moratorium or any indebtedness, winding up, dissolution, administration,
scheme of arrangement or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate
it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding up, liquidation, dissolution, composition or
other relief with respect to it or its debts, or (B) seeking appointment of a liquidator, receiver, administrative receiver, compulsory
manager, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, the Borrower,
any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) or any Significant Subsidiary shall make a general assignment
for the benefit of its creditors; or (ii) there shall be commenced against the Borrower, any Guarantor (other than any Guarantor that
is an Immaterial Subsidiary) or any Significant Subsidiary any case, proceeding, analogous procedure, step or other action of a nature
referred to in clause (i) above that (A) results in the entry of an order for relief or any such adjudication or appointment
or (B) remains undismissed, undischarged or unbonded for a period of 60 days; or (iii) there shall be commenced against the Borrower,
any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) or any Significant Subsidiary any case, proceeding or other
action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its
assets that results in the entry of an order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending
appeal within 60 days from the entry thereof; or (iv) the Borrower, any Guarantor (other than any Guarantor that is an Immaterial
Subsidiary) or any Significant Subsidiary shall take any corporate action in furtherance of, or indicating its consent to, approval of,
or acquiescence in, any of the acts set forth in clauses (i), (ii), or (iii) above; (v)the

 

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Borrower,
any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) or any Significant Subsidiary shall generally not, or shall
be unable to, or shall admit in writing its inability to generally, pay its debts as they become due; or

 

(h)  
(i) any Person shall engage in any non-exempt “prohibited transaction” (as defined in Section 406 of ERISA or
Section 4975 of the Code) involving any Plan, (ii) any ERISA Event shall occur, or (iii) the Borrower or any Commonly Controlled
Entity shall, or is reasonably likely to incur any liability in connection with a complete or partial withdrawal from, or the Insolvency
of, a Multiemployer Plan; and in the case of the events described in clauses (i) through (iii) above, such event or
condition, together with all other such events or conditions, if any, would reasonably be expected to have a Material Adverse Effect;
or

 

(i)  
one or more judgments or decrees shall be entered against any Group Member involving in the aggregate a liability (not (x) paid
or covered by insurance as to which the relevant insurance company has been notified of the claim and has not denied coverage or (y)
covered by valid third party indemnification obligation from a third party which is Solvent and which third party has been notified of
the claim under such indemnification obligation and not disputed that it is liable for such claim) of at least the greater of $16,500,000
and 22.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended Test Period, and all such judgments or
decrees shall not have been vacated, discharged, stayed or bonded pending appeal within 60 days from the entry thereof; or

 

(j)  
any material provision in any of the Security Documents shall cease, for any reason, to be in full force and effect, other than
pursuant to the terms hereof or thereof, or any Loan Party shall so assert, or any Lien created by any of the Security Documents shall
cease to be enforceable and of the same effect and priority purported to be created thereby, except (A) to the extent (x)(i) that any
lack of full force and effect or enforceability or such loss of perfection or priority results from the failure of the Administrative
Agent to maintain possession of certificates actually delivered to it representing securities pledged under any Security Agreement or
from the failure of the Administrative Agent to file UCC continuation statements or (ii) as the direct and exclusive result of any action
of the Administrative Agent, Collateral Agent or any Lender or the failure of the Administrative Agent, Collateral Agent, or any Lender
to take any action that is within its control, in each case in a manner otherwise specifically required to be undertaken (or not undertaken,
as the case may be) by a provision of any Loan Document, on the part of the Administrative Agent, Collateral Agent or any Lender (other
than actions or inactions taken as a direct result of the advice of or at the direction of a Loan Party), and except as to Collateral
consisting of real property to the extent that such losses are covered by a lender’s title insurance policy and such insurer has
been notified and has not denied coverage and (y) that the Loan Parties take such action as the Administrative Agent may reasonably request
to remedy such loss of perfection or priority or (B) where the Fair Market Value of assets affected thereby does not exceed the greater
of $16,500,000 and 22.0% of Consolidated EBITDA determined on a Pro Forma Basis as of the most recently ended Test Period.; or

 

(k)  
the Guarantee of any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) shall cease, for any reason, to be
in full force and effect, other than as provided for in Sections 8.9 or 10.10, or any Loan Party shall so assert in writing
(except to the extent solely as a result of acts or omissions by the Administrative Agent or any Lender); or

 

(l)  
a Change of Control shall occur; or

 

(m)  
any Intercreditor Agreement shall cease, for any reason, to be in full force and effect, or any Loan Party shall so assert in
writing, in each case unless such cessation results solely from acts or omissions by the Administrative Agent or any Lender;

 

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(n)  
any Loan Party repudiates or rescinds in writing this Agreement or the Loan Documents in a manner which is materially adverse
to the interests of the Lenders as a whole.

 

9.2  
Action in Event of Default.

 

(a)  
(x) Upon any Event of Default specified in Section 9.1(g)(i) or (ii) occurring and continuing with respect
to a Borrower under the Bankruptcy Code or any other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors,
moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief law of the United States from time to time
in effect and affecting the rights of creditors generally, the Commitments to lend to the Borrower shall immediately terminate automatically
and the Loans (with accrued interest thereon) and all other Obligations owing by the Borrower under this Agreement and the other Loan
Documents (including all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall
have presented the documents required thereunder) shall automatically immediately become due and payable, and (y) if any other Event
of Default (other than under Section 9.1(g)(i) or (ii) in respect of a Borrower as set out in clause (x)
above) occurs and is continuing, subject to Section 9.2(b) and (c), either or both of the following actions may be
taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative
Agent shall, by notice to the Borrower declare the Revolving Commitments to be terminated forthwith, whereupon the Revolving Commitments
shall immediately terminate; and/or (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon the request
of the Required Lenders, the Administrative Agent shall, by notice to the Borrower, declare the Loans (with accrued interest thereon)
and all other Obligations owing under this Agreement and the other Loan Documents (including all amounts of L/C Obligations, whether
or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due
and payable forthwith, whereupon the same shall immediately become due and payable. In furtherance of the foregoing, the Administrative
Agent may, or upon the request of the Required Lenders the Administrative Agent shall, exercise any and all other remedies available
under the Loan Documents at law or in equity, including commencing and prosecuting any suits, actions or proceedings at law or in equity
in any court of competent jurisdiction and collecting the Collateral or any portion thereof and enforcing any other right in respect
of any Collateral. Notwithstanding the foregoing provisions of this Section 9 or any other provision of this Agreement, any
unfunded Commitments outstanding at any time in respect of any individual incremental facility pursuant to Section 2.25 established
to finance a Limited Condition Transaction may be terminated only by the lenders holding more than 50% of the aggregate amount of the
Commitments in respect of such incremental facility (or by the Administrative Agent acting at the request of such Lenders), and not,
for the avoidance of doubt, automatically or by the Required Lenders or any other Lenders (or by the Administrative Agent acting at the
request of the Required Lenders or any other Lenders).

 

(b)  
Upon the occurrence of an Event of Default under Section 9.1(d) (a “Financial Covenant Event of Default”)
that is uncured or unwaived and the expiration of the Cure Period without the receipt of the Cure Amount, the Majority Revolving Lenders
(and, for the avoidance of doubt, not the Administrative Agent (except acting at the direction of such Majority Revolving Lenders), the
Required Lenders or any other Lenders) may either (x) terminate the Revolving Commitments and/or (y) take the actions specified in Section 9.2(a)
and (c) in respect of the Revolving Commitments, the Revolving Loans, Letters of Credit and Designated Acquisition Swingline
Loans.

 

(c)  
In respect of a Financial Covenant Event of Default that is continuing, the Required Lenders may take the actions specified in
Section 9.2(a) on or after the date that the Majority Revolving Lenders terminate the Revolving Commitments and accelerate
all Obligations in respect of the Revolving Commitments; provided, however, that the Required Lenders may not take such
actions if

 

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either
(i) the Revolving Loans have been repaid in full (other than contingent indemnification and reimbursement obligations for which no claim
has been made) and the Revolving Commitments have been terminated, (ii) the Financial Covenant Event of Default has been waived by the
Majority Revolving Lenders or (iii) a Cure Amount shall have been received in accordance with Section 9.3.

 

(d)  
With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration
pursuant to this paragraph, the Borrower shall at such time deposit in a Cash Collateral Account opened by the Administrative Agent an
amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit. Amounts held in such Cash Collateral Account
shall be applied by the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof
after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other Obligations of
the Borrower hereunder and under the other Loan Documents. After all such Letters of Credit shall have expired or been fully drawn upon
and all amounts drawn thereunder have been reimbursed in full and all other Obligations of the Borrower hereunder and under the other
Loan Documents shall have been paid in full (other than (i) contingent indemnification and reimbursement obligations for which no claim
has been made, (ii) Cash Management Obligations as to which arrangements reasonably satisfactory to the Cash Management Providers have
been made, (iii) Letters of Credit that have been Collateralized or, to the reasonable satisfaction of the applicable Issuing Lender,
rolled into another credit facility, and (iv) obligations under Qualified Hedging Agreements as to which arrangements reasonably satisfactory
to the Qualified Counterparties have been made), the balance, if any, in such Cash Collateral Account shall be returned to the Borrower
(or such other Person as may be lawfully entitled thereto). Except as expressly provided above in this Section 9.2, presentment,
demand, protest and all other notices of any kind are hereby expressly waived by the Borrower.

 

9.3  
Right to Cure.

 

(a)  
Notwithstanding anything to the contrary contained in Section 9, in the event that the Borrower fails (or, but for
the operation of this Section 9.3, would fail) to comply with the requirements of Section 7.1, the Borrower shall
have the right after the first day of the applicable fiscal quarter and/or from the date of delivery of a Notice of Intent to Cure with
respect to the fiscal quarter most recently ended for which financial results have been provided under Sections 6.1(a) or (b)
until ten (10) Business Days after the end of such fiscal quarter (the “Cure Period”), to issue Permitted
Cure Securities for cash or otherwise receive cash contributions to the equity capital of the Borrower, and, in each case, to contribute
any such cash to the equity capital of the Borrower (collectively, the “Cure Right”), and upon the receipt by the
Borrower of such cash (the “Cure Amount”) pursuant to the exercise by the Borrower of such Cure Right, the Total First
Lien Net Leverage Ratio shall be recalculated by increasing Consolidated EBITDA (solely for purposes of compliance with Section 7.1)
on a Pro Forma Basis by an amount equal to the Cure Amount (x) solely for the purpose of measuring the Total First Lien Net Leverage
Ratio and not for any other purpose under this Agreement or any other Loan Document (including for purposes of determining pricing, mandatory
prepayments and the availability or amount permitted pursuant to any covenant under Section 7) for the quarter with respect to
which such Cure Right was exercised and (y) there shall be no reduction in Indebtedness in connection with any Cure Amounts for determining
compliance with Section 7.1 and no Cure Amounts will reduce (or count towards) the Total First Lien Net Leverage Ratio, Total
Secured Net Leverage Ratio or the Total Net Leverage Ratio for purposes of any calculation thereof for the fiscal quarter with respect
to which such Cure Right was exercised unless the proceeds are actually applied to prepay Indebtedness pursuant to Section 2.11.

 

(b)  
If, after giving effect to the foregoing recalculations, the Borrower shall then be in compliance with the requirements of Section 7.1,
then the Borrower shall be deemed to have satisfied

 

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the
requirements of Section 7.1 as of the relevant date of determination with the same effect as though there had been no failure
to comply therewith at such date, and the applicable breach or default of Section 7.1 that had occurred shall be deemed cured
for the purposes of this Agreement.

 

(c)  
To the extent a fiscal quarter ended for which the Total First Lien Net Leverage Ratio was initially recalculated as a result
of a Cure Right and such fiscal quarter is included in the calculation of the Total First Lien Net Leverage Ratio in a subsequent fiscal
quarter, the Cure Amount shall be included in Consolidated EBITDA of such initial fiscal quarter.

 

(d)  
Notwithstanding anything herein to the contrary, (i) in each four-fiscal-quarter period there shall be at least two fiscal quarters
in which the Cure Right is not exercised and the Cure Right shall not be exercised in consecutive fiscal quarters, (ii) for purposes
of this Section 9.3, the Cure Amount shall be no greater than the amount required for purposes of complying with the Total
First Lien Net Leverage Ratio, determined at the time the Cure Right is exercised with respect to the fiscal quarter ended for which
the Total First Lien Net Leverage Ratio was initially recalculated as a result of a Cure Right, (iii) the Cure Amount shall be disregarded
for all other purposes of this Agreement, including, determining any baskets with respect to the covenants contained in Section 7,
and shall not result in any adjustment to any amounts other than the amount of Consolidated EBITDA as described in clause (a)
above, (iv) there shall be no pro forma reduction in Indebtedness with the proceeds of any Cure Amount for the fiscal quarter
in respect of which the Cure Right is exercised for purposes of determining compliance with Section 7.1; provided
that such Cure Amount shall reduce Indebtedness in future fiscal quarters to the extent used to prepay any applicable Indebtedness, (v) the
Borrower shall not exercise the Cure Right in excess of five instances over the term of this Agreement and (vi) no Revolving Lender or
Issuing Lender shall be required to make any Revolving Loans or issue, amend, modify, renew or extend any Letter of Credit hereunder
if a violation of Section 7.1 has occurred and is continuing until the expiration of the 10 Business Day period during which the
Borrower may exercise a Cure Right, unless and until the Cure Amount is actually received.

 

9.4  
Application of Proceeds. If an Event of Default shall have occurred and be continuing,
the Administrative Agent may apply, at such time or times as the Administrative Agent may elect, all or any part of proceeds constituting
Collateral in payment of the Obligations (and in the event the Loans and other Obligations are accelerated pursuant to Section 9.2,
the Administrative Agent shall, from time to time, apply the proceeds constituting Collateral in payment of the Obligations) in the following
order:

 

(a)  
First, to the payment to the Administrative Agent of all costs and expenses of any sale, collection or other realization
on the Collateral, including reimbursement for all costs, expenses, liabilities and advances made or incurred by the Administrative Agent
in connection therewith (including all reasonable costs and expenses of every kind incurred in connection any action taken pursuant to
any Loan Document or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights
of the Administrative Agent and the other Secured Parties hereunder, reasonable attorneys’ fees and disbursements and any other
amount required by any provision of law (including Section 9-615(a)(3) of the Uniform Commercial Code) (or any equivalent law in
any foreign jurisdiction)), and all amounts for which Administrative Agent is entitled to indemnification hereunder and under the other
Loan Documents and all advances made by the Administrative Agent hereunder and thereunder for the account of any Loan Party (excluding
principal and interest in respect of any Loans extended to such Loan Party), and to the payment of all costs and expenses paid or incurred
by the Administrative Agent in connection with the exercise of any right or remedy hereunder or under this Agreement or any other Loan
Document and to the payment or reimbursement of all indemnification obligations, fees, costs and expenses owing to the Administrative
Agent hereunder or under this Agreement or any other Loan Document, all in accordance with the terms hereof or thereof;

 

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(b)  
Second, for application by it pro rata to (i) repay the Designated Acquisition Swingline Lender for any then outstanding
Designated Acquisition Swingline Loans to the extent Revolving Lenders have not funded their obligations to acquire participations therein,
(ii) cure any Funding Default that has occurred and is continuing at such time and (iii) repay the Issuing Lenders for any amounts not
paid by L/C Participants pursuant to Section 3.4;

 

(c)  
Third, for application by it towards all other Obligations (including, without duplication, Guarantor Obligations), pro
rata among the Secured Parties according to the amounts of the Obligations then held by the Secured Parties (including all Obligations
arising under Specified Cash Management Agreements, Qualified Hedging Agreements and including obligations to provide cash collateral
with respect to Letters of Credit); and

 

(d)  
Fourth, any balance of such proceeds remaining after all of the Obligations shall have been satisfied by payment in full
in immediately available funds (or in the case of Letters of Credit, terminated or Collateralized or (to the reasonable satisfaction
of the applicable Issuing Lender) rolled into another credit facility) and the Commitments shall have been terminated, be paid over to
or upon the order of the applicable Loan Party or to whosoever may be lawfully entitled to receive the same or as a court of competent
jurisdiction may direct.

 

SECTION
10.

ADMINISTRATIVE AGENT

 

10.1  
Appointment and Authority.

 

(a)  
Administrative Agent. Each of the Lenders, the Issuing Lenders and the Designated Acquisition Swingline Lender hereby irrevocably
appoints JPMorgan Chase Bank, N.A. to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and
authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative
Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this
Section 10 are solely for the benefit of the Administrative Agent, the Joint Bookrunners, the Joint Lead Arrangers, the Syndication
Agents, the Lenders and the Issuing Lenders, and, except to the extent that any Group Member has any express rights under this Section 10,
no Group Member shall have rights as a third party beneficiary of any of such provisions. Each Joint Lead Arranger, Joint Bookrunner
and Syndication Agent shall be an intended third party beneficiary of the provisions set forth in this Agreement that are applicable
thereto.

 

(b)  
Collateral Agent. The Administrative Agent shall also act as the “collateral agent” under the Loan Documents,
and each of the Lenders (including in its capacities as a potential Qualified Counterparty and a potential Cash Management Provider)
and each of the Issuing Lenders hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender
and the Issuing Lenders (with the full power to appoint and to substitute and to delegate) on its behalf, or in its own name as joint
and several creditor or creditor of a parallel debt (as the case may be) for purposes of acquiring, holding and enforcing any and all
Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as
are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral agent” and any co-agents,
sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 10.5 for purposes of holding or
enforcing any Lien on the Collateral (or any portion thereof) granted under the Security Documents, or for exercising any rights and
remedies thereunder at the direction of the Administrative Agent, shall be entitled to the benefits of all provisions of this Section 10
and Section 11, as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under
the Loan Documents as if set forth in full herein with respect thereto. Without limiting the generality of the

 

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foregoing,
the Lenders hereby expressly authorize the Administrative Agent on its behalf and/or in its own name (including under the parallel debt)
to execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect
thereto, as contemplated by and in accordance with the provisions of this Agreement and the Security Documents and acknowledge and agree
that any such action by any Agent shall bind the Lenders. Each Lender agrees that it shall not take or institute any actions or proceedings,
judicial or otherwise, for any right or remedy with respect to any Collateral against the Borrower or any other Loan Party or any other
obligor under any of the Loan Documents, Qualified Hedging Agreements or any Specified Cash Management Agreement (including, in each
case, the exercise of any right of setoff, rights on account of any banker’s lien or similar claim or other rights of self-help),
or institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral of the Borrower
or any other Loan Party, without the prior written consent of the Administrative Agent.

 

10.2  
Rights as a Lender. The Person serving as the Administrative Agent hereunder shall
have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative
Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise
requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates
may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally
engage in any kind of business with the Borrower or any of its Subsidiaries or other Affiliate thereof as if such Person were not the
Administrative Agent hereunder and without any duty to account therefor to the Lenders.

 

10.3  
Exculpatory Provisions. The Administrative Agent shall not have any duties or obligations
except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative
Agent:

 

(a)  
shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

 

(b)  
shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and
powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed
in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in
the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion
or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable
Law;

 

(c)  
shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable
for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by
the Person serving as the Administrative Agent or any of its Affiliates in any capacity;

 

(d)  
shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or
such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall
be necessary, under the circumstances as provided in Section 11.1 and Section 9.2) or (ii) in the absence of
its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless
and until written notice describing such Default is given to the Administrative Agent by a Borrower, a Lender or the applicable Issuing
Lender.

 

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(e)  
The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty
or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report
or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any
of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document,
or the creation, perfection or priority of any Lien purported to be created by the Security Documents, (v) the value or the sufficiency
of any Collateral, or (vi) the satisfaction of any condition set forth in Section 5 or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Administrative Agent. The Administrative Agent shall not be responsible or
have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating
to Disqualified Lenders or Affiliated Lenders. Without limiting the generality of the foregoing, the Administrative Agent shall not ‎(x)
be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or prospective Lender or Participant is a Disqualified
‎Lender, (y) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential
information, to any ‎Disqualified Lender or (z) be obligated to ascertain, monitor or enforce the limitations in connection with
any assignment to Debt Fund Affiliates and Affiliated Lenders or have any liability with respect thereto or any matter arising thereof.
The Administrative Agent shall be permitted upon request of any Lender or Participant to make available to such Lender or Participant
any list of Disqualified Lenders and any Lender may provide the list of Disqualified Lenders, upon request, to any prospective assignee
or Participant on a confidential basis to such prospective assignee or Participant for the purpose of making the representation in the
Assignment and Assumption or participation documentation that such prospective assignee or Participant is not a Disqualified Lender under
the Credit Agreement (it being understood that the identity of Disqualified Lenders will not be posted or distributed to any Person,
other than a distribution by the Administrative Agent to a Lender upon written request and by a Lender to any prospective assignee or
Participant on a confidential basis).

 

10.4  
Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely
upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document
or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be
genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any
statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability
for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit,
that by its terms must be fulfilled to the satisfaction of a Lender or the applicable Issuing Lender, the Administrative Agent may presume
that such condition is satisfactory to such Lender or such Issuing Lender unless the Administrative Agent shall have received written
notice to the contrary from such Lender or such Issuing Lender prior to the making of such Loan or the issuance such Letter of Credit.
The Administrative Agent may consult with legal counsel, independent accountants and other experts selected by it, and shall not be liable
for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. The Administrative
Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall
first receive such advice or concurrence of the Required Lenders (or such other number or percentage of Lenders as shall be provided
for herein or in the other Loan Documents) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders
against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. The Administrative
Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents
in accordance with a request of the Required Lenders (or such other number or percentage of Lenders as shall be

 

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provided for herein
or in the other Loan Documents), and such request and any action taken or failure to act pursuant thereto shall be binding upon the Lenders
and all future holders of the Loans.

 

10.5  
Delegation of Duties. The Administrative Agent may perform any and all of its duties
and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the
Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and
powers by or through their respective Related Parties. The exculpatory provisions of this Section 10 shall apply to any such sub-agent
and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection
with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative Agent
shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction
determines in a final and nonappealable decision to have resulted from the gross negligence, bad faith or willful misconduct in the selection
of such sub-agents.

 

10.6  
Resignation and Removal of Administrative Agent.

 

(a)  
The Administrative Agent may at any time give notice of its resignation to the Lenders, the Issuing Lenders and the Borrower.
Upon receipt of any such notice of resignation, the Required Lenders shall have the right (for so long as no Event of Default set forth
under Section 9.1(a) or (g) has occurred and is continuing, subject to the approval of the Borrower, not to be unreasonably withheld)
to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in
the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment
within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the
Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be
obligated to) on behalf of the Lenders and the Issuing Lenders, in consultation with the Borrower, appoint a successor Administrative
Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall become effective
in accordance with such notice on the Resignation Effective Date.

 

(b)  
If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof,
the Required Lenders may, to the extent permitted by applicable Law, by notice in writing to the Borrower and such Person remove such
Person as Administrative Agent and (for so long as no Event of Default set forth under Section 9.1(a) or (g) has occurred and
is continuing, subject to the approval of the Borrower, not to be unreasonably withheld), appoint a successor. If no such successor shall
have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after such notice (or
such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall
nonetheless become effective in accordance with such notice on the Removal Effective Date.

 

(c)  
With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) the retiring or removed Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any
collateral security held by the Administrative Agent on behalf of the Lenders or the Issuing Lenders under any of the Loan Documents,
the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative
Agent is appointed), all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall
instead be made by or to each Lender and the Issuing Lenders directly, until such time as the Required Lenders appoint a successor Administrative
Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor
shall succeed to and become vested with

 

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all
of the rights, powers, privileges and duties of the retiring (or removed) Administrative Agent, and the retiring or removed Administrative
Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged
therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same
as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring or removed Administrative
Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Section 10 and
Section 11.5 shall continue in effect for the benefit of such retiring or removed Administrative Agent, its sub agents and
their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring or removed
Administrative Agent was acting as Administrative Agent.

 

(a)  
Any resignation by JPMCB as Administrative Agent pursuant to this Section 10.6 shall also constitute its resignation as
Designated Acquisition Swingline Lender. If JPMCB so resigns as a Designated Acquisition Swingline Lender, it shall retain all the rights,
powers, privileges and duties of a Designated Acquisition Swingline Lender hereunder with respect to all Designated Acquisition Swingline
Loans outstanding as of the effective date of its resignation as Designated Acquisition Swingline Lender, including the right to require
the Lenders to make Refunded Designated Acquisition Swingline Loans or fund risk participations in the Outstanding Amount of Designated
Acquisition Swingline Loans pursuant to Section 2.7(b). Upon the appointment by the Borrower of a successor Designated Acquisition
Swingline Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), (a) such successor shall
succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Designated Acquisition Swingline Lender,
(b) the retiring Designated Acquisition Swingline Lender shall be discharged from all of its duties and obligations hereunder or under
the other Loan Documents, and (c) the successor Designated Acquisition Swingline Lender shall issue Designated Acquisition Swingline
loans in substitution for the Designated Acquisition Swingline Loans, if any, outstanding at the time of such succession or make other
arrangements reasonably satisfactory to the applicable Designated Acquisition Swingline Lender that issued such outstanding Designated
Acquisition Swingline Loans to effectively assume the obligations of the applicable Designated Acquisition Swingline Lender that issued
such outstanding Designated Acquisition Swingline Loans with respect to such Designated Acquisition Swingline Loans.

 

10.7  
Certain ERISA Matters.

 

(a)  
Each Lender (x) represents and warrants, as of the date such Person became a Lender party
hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party
hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any
other Loan Party, that at least one of the following is and will be true:

 

(i)  
such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA) of one or more Benefit Plans
with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit,
the Commitments or this Agreement,

 

(ii)  
the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined
by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company
general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38
(a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions
determined by in-house asset managers), is applicable and the conditions are satisfied with respect to such Lender’s entrance into,

 

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participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,

 

(iii)  
(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part
VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into,
participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements
of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a)
of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance
of the Loans, the Letters of Credit, the Commitments and this Agreement, or

 

(iv)  
such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion,
and such Lender.

 

(b)  
In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is
true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause
(iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender
party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender
party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower
or any other Loan Party, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such
Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments
and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement,
any Loan Document or any documents related hereto or thereto).none of the Administrative Agent or any of its respective Affiliates is
a fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by the
Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto).

 

10.8  
No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the
Administrative Agent, Joint Bookrunners, Joint Lead Arrangers or Syndication Agents listed on the cover page hereof (each, an “Agent”)
shall (a) have any powers, obligations, duties or responsibilities under this Agreement or any of the other Loan Documents, except in
its capacity, as applicable, as the Administrative Agent, a Lender or an Issuing Lender hereunder or (b) be obligated to carry out on
behalf of any Lender (i) any “know your customer” or other checks in relation to any Person or (ii) any check on the extent
to which any transaction contemplated by this Agreement might be unlawful for any Lender, and each Lender confirms to each Agent that
it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement in relation to such
checks made by any Agent.

 

10.9  
Administrative Agent May File Proofs of Claim.

 

In
case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative
Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration
or otherwise and irrespective of whether the Administrative Agent shall have made any demand on any Borrower) shall be entitled and empowered,
by intervention in such proceeding or otherwise:

 

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(i)  
to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations
and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have
the claims of the Lenders, the Issuing Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders, the Issuing Lenders and the Administrative Agent and their respective agents and counsel and
all other amounts due the Lenders, the Issuing Lenders and the Administrative Agent under Sections 2.8, 3.3 and 11.5)
allowed in such judicial proceeding; and

 

(ii)  
to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

 

and any custodian,
receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized
by each Lender and each Issuing Lender to make such payments to the Administrative Agent and, if the Administrative Agent shall consent
to the making of such payments directly to the Lenders and the applicable Issuing Lender, to pay to the Administrative Agent any amount
due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and
any other amounts due the Administrative Agent under Sections 2.8 and 11.5.

 

Nothing
contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender or any Issuing Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights
of any Lender or any Issuing Lender to authorize the Administrative Agent to vote in respect of the claim of any Lender or any Issuing
Lender or in any such proceeding.

 

10.10  
Collateral and Guaranty Matters.

 

(a)  
Each of the Lenders (including in its capacities as a potential Qualified Counterparty and a potential Cash Management Provider),
the Issuing Lenders and the Designated Acquisition Swingline Lender irrevocably authorizes the Administrative Agent (without requirement
of notice to or consent of any Lender except as expressly required by Section 11.1): (i) to release any Lien on any property
granted to or held by the Administrative Agent under any Loan Document (1) at the time the property subject to such Lien is sold or transferred
as part of or in connection with any Disposition permitted hereunder or under any other Loan Document to any Person other than a Loan
Party, (2) subject to Section 11.1, if the release of such Lien is approved, authorized or ratified in writing by the Required
Lenders, (3) if the property subject to such Lien is owned by a Guarantor, upon release of such Guarantor from its obligations under
the Guarantee in accordance with this Agreement or (4) that constitutes Excluded Assets; (ii) to release or subordinate, as
expressly permitted hereunder, any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the
holder of any Lien described in clause 6 (with respect to Indebtedness permitted by Section 7.2(b)(vii)) of the definition of
Permitted Lien on such property that is permitted by this Agreement to the extent required by the holder of, or pursuant to the terms
of any agreement governing, the obligations secured by such Liens; (iii) to release any Guarantor from its obligations under the
Guarantee if such Person ceases to be a Restricted Subsidiary or becomes an Excluded Subsidiary as a result of a transaction or designation
permitted hereunder (provided that the release of any Guarantor from its obligations under the Loan Documents solely as a result
of such Guarantor becoming an Excluded Subsidiary of the type described in clause (i) of the definition thereof shall only
be permitted if such Guarantor becomes such an Excluded Subsidiary pursuant to a transaction with a third party that is not otherwise
an Affiliate of the Borrower and such transaction was not for the primary purpose of release the Guarantee of such Guarantor).

 

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(b)  
Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s
authority to release or subordinate its interest in particular types or items of property, or to release (pursuant to clause (a)
above) any Guarantor from its obligations under the Guarantee.

 

(c)  
At such time as the Loans, the Reimbursement Obligations and the other Obligations (other than (i) Contingent Obligations for
which no claim has been made, (ii) Cash Management Obligations as to which arrangements reasonably satisfactory to the Cash Management
Providers have been made and (iii) obligations under Qualified Hedging Agreements as to which arrangements reasonably satisfactory to
the Qualified Counterparties have been made) shall have been satisfied by payment in full in immediately available funds, the Commitments
have been terminated and no Letters of Credit shall be outstanding or all outstanding Letters of Credit have been Collateralized or,
to the reasonable satisfaction of the applicable Issuing Lender, rolled into another credit facility, the Collateral shall be automatically
released from the Liens created by the Security Documents, and the Security Documents and all obligations (other than those expressly
stated to survive such termination) of the Administrative Agent and each Group Member under the Security Documents shall automatically
terminate, all without delivery of any instrument or performance of any act by any Person.

 

(d)  
If (i) a Guarantor was released from its obligations under the Guarantee (ii) the Collateral was released from the assignment
and security interest granted under the Security Document (or the interest in such item subordinated), the Administrative Agent will
(and each Lender irrevocably authorizes the Administrative Agent to) execute and deliver to the applicable Loan Party such documents
as such Loan Party may reasonably request to evidence the release of such Guarantor from its obligations under the Guarantee, the release
of such item of Collateral from the assignment and security interest granted under the Security Documents or to subordinate its interest
in such item, in each case in accordance with the terms of the Loan Documents and this Section 10.10.

 

(e)  
If as a result of any transaction permitted by this Agreement (i) any Guarantor becomes an Excluded Subsidiary (provided
that the release of any Guarantor from its obligations under the Loan Documents solely as a result of such Guarantor becoming an Excluded
Subsidiary of the type described in clause (i) of the definition thereof shall only be permitted if such Guarantor becomes
such an Excluded Subsidiary pursuant to a transaction with a third party that is not otherwise an Affiliate of the Borrower and such
transaction was not for the primary purpose of release the Guarantee of such Guarantor) or 100% of the Equity Interests of a Guarantor
is sold to a Person that is not a Loan Party (or a Guarantor consolidates or merges with a Person that is not a Loan Party), then (x)
such Guarantor’s Guarantee and all Liens granted by such Guarantor that is released shall be automatically released, and (y) the
Capital Stock of such Guarantor (other than, in the case of a Guarantor that so becomes an Excluded Subsidiary) shall be automatically
released from the security interests created by the Loan Documents, (ii) [reserved] or (iii) any asset becomes an Excluded Asset or,
then such asset shall be automatically released from any security interests created by the Loan Documents. In connection with any termination
or release pursuant to this Section 10.10(e), the Administrative Agent and any applicable Lender shall promptly execute and
deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence
such termination or release. Any execution and delivery of documents pursuant to this Section 10.10(e) shall be without recourse
to or warranty by the Administrative Agent or any Lender.

 

The
parties hereto acknowledge and agree that the Administrative Agent may rely conclusively as to any of the matters described in this 10.10
(including as to its authority hereunder) on a certificate or similar instrument provided to it by the Borrower without further inquiry
or investigation, which certificate may be delivered to the Administrative Agent by the Borrower.

 

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10.11  
Intercreditor Agreements.

 

The
Lenders hereby authorize the Administrative Agent to enter into any intercreditor agreement (including any other Intercreditor Agreement)
or arrangement permitted under and expressly contemplated (including with respect to priority) by this Agreement (and any amendments,
amendments and restatements, restatements or waivers of, or supplements or other modifications to, any such agreement or arrangement
permitted under this Agreement), and any such agreement or arrangement will be binding upon the Lenders.

 

Except
as otherwise expressly set forth herein or in any Security Document, no Qualified Counterparty or Cash Management Provider that obtains
the benefits of Section 9.4, any Guarantee or any Collateral by virtue of the provisions hereof or of any Guarantee or any
Security Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any
other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its
capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision
of this Section 10 to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other
satisfactory arrangements have been made with respect to, Cash Management Obligations and Obligations arising under Qualified Hedging
Agreements unless the Administrative Agent has received written notice of such Obligations, together with such supporting documentation
as the Administrative Agent may request, from the applicable Cash Management Provider or Qualified Counterparty, as the case may be.

 

10.12  
Withholding Tax Indemnity. To the extent required by any applicable Laws, the Administrative
Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service
or any other authority of the United States or other jurisdiction asserts a claim that the Administrative Agent did not properly withhold
Tax from amounts paid to or for the account of any Lender for any reason (including because the appropriate form was not delivered or
not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the
exemption from, or reduction of withholding Tax ineffective), such Lender shall, within 10 days after written demand therefor, indemnify
and hold harmless the Administrative Agent (to the extent that the Administrative Agent has not already been reimbursed by the Borrower
or any other Loan Party pursuant to Sections 2.16 and 2.19 and without limiting or expanding the obligation of the Borrower or any
other Loan Party to do so) for all amounts paid, directly or indirectly, by the Administrative Agent as Taxes or otherwise, together
with all expenses incurred, including legal expenses and any other out-of-pocket expenses, whether or not such Tax was correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to
any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent
to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any
amount due the Administrative Agent under this Section 10.12. The agreements in this Section 10.12 shall survive the resignation
and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender and the repayment, satisfaction
or discharge of all other Obligations. For the avoidance of doubt, a “Lender” shall, for purposes of this Section 10.12,
include any Issuing Lender and the Designated Acquisition Swingline Lender.

 

10.13  
Indemnification. Each of the Lenders agrees to indemnify the Administrative Agent
and the Joint Lead Arrangers (and their Related Parties) in their respective capacities as such (to the extent not reimbursed by any
Loan Party and without limiting or expanding the obligation of the Loan Parties to do so), according to its Aggregate Exposure Percentage
in effect on the date on which indemnification is sought under this Section 10.13 (or, if indemnification is sought after the date
upon which the Commitments shall have terminated and the Loans shall have been paid in full, in accordance with its

 

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Aggregate Exposure
Percentage immediately prior to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of
the Loans) be imposed on, incurred by or asserted against the Administrative Agent, the Joint Lead Arrangers or their Related Parties
(the foregoing, the “Lender Indemnitees”) in any way relating to or arising out of, the Commitments, this Agreement, any
of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby
or thereby or any action taken or omitted by the Administrative Agent or any other Person under or in connection with any of the foregoing;
provided that no Lender shall be liable to any Lender Indemnitee for the payment of any portion of such liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses or disbursements to the extent that they are found by a final and nonappealable
decision of a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of such Lender
Indemnitee. The agreements in this Section 10.13 shall survive the termination of this Agreement and the payment of the Loans and
all other amounts payable hereunder.

 

10.14  
Appointment of Incremental Arrangers, Refinancing Arrangers and Loan Modification Agents.
In the event that the Borrower appoints or designates any Incremental Arranger, Refinancing Arranger or Loan Modification Agent pursuant
to (and subject to) Sections 2.25, 2.26 and 2.28, as applicable, (i) each and every right, power, privilege or duty expressed or intended
by this Agreement or any of the other Loan Documents to be exercised by or vested in or conveyed to an agent or arranger with respect
to the Incremental Loans, Permitted Credit Agreement Refinancing Debt or Loan Modification Agreement, as applicable, shall be exercisable
by and vest in such Incremental Arranger, Refinancing Arranger or Loan Modification Agent to the extent, and only to the extent, necessary
to enable such Incremental Arranger, Refinancing Arranger or Loan Modification Agent to exercise such rights, powers and privileges with
respect to the Incremental Loans, Permitted Credit Agreement Refinancing Debt or Loan Modification Agreement, as applicable, and to perform
such duties with respect to such Incremental Loans, Permitted Credit Agreement Refinancing Debt or Loan Modification Agreement, as applicable,
and every covenant and obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such Incremental
Arranger, Refinancing Arranger or Loan Modification Agent shall run to and be enforceable by either the Administrative Agent or such
Incremental Arranger, Refinancing Arranger or Loan Modification Agent, and (ii) the provisions of this Section 10 and of Section 11.5
(obligating the Borrower to pay the Administrative Agent’s expenses and to indemnify the Administrative Agent) that refer to the
Administrative Agent shall inure to the benefit of the Administrative Agent and such Incremental Arranger, Refinancing Arranger or Loan
Modification Agent and all references therein to the Administrative Agent shall be deemed to be references to the Administrative Agent
and/or such Incremental Arranger, Refinancing Arranger or Loan Modification Agent, as the context may require. Each Lender and Issuing
Lender hereby irrevocably appoints any Incremental Arranger, Refinancing Arranger or Loan Modification Agent to act on its behalf hereunder
and under the other Loan Documents pursuant to (and subject to) Sections 2.25, 2.26 and 2.28, as applicable, and designates and
authorizes such Incremental Arranger, Refinancing Arranger or Loan Modification Agent to take such actions on its behalf under the provisions
of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to such
Incremental Arranger, Refinancing Arranger or Loan Modification Agent by the terms of this Agreement or any other Loan Document, together
with such actions and powers as are reasonably incidental thereto.

 

10.15  
Credit Bidding.

 

The
Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all or
any portion of the Obligations (including by accepting some or all of the Collateral in satisfaction of some or all of the Obligations
pursuant to a deed in lieu of

 

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foreclosure
or otherwise) and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral
(a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 of the Bankruptcy
Code, or any similar laws in any other jurisdictions to which a Loan Party is subject, or (b) at any other sale, foreclosure or acceptance
of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial
action or otherwise) in accordance with any applicable law. In connection with any such credit bid and purchase, the Obligations owed
to the Secured Parties shall be entitled to be, and shall be, credit bid by the Administrative Agent at the direction of the Required
Lenders on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the
acquired assets on a ratable basis that shall vest upon the liquidation of such claims in an amount proportional to the liquidated portion
of the contingent claim amount used in allocating the contingent interests) for the asset or assets so purchased (or for the equity interests
or debt instruments of the acquisition vehicle or vehicles that are issued in connection with such purchase). In connection with any
such bid, (i) the Administrative Agent shall be authorized to form one or more acquisition vehicles and to assign any successful credit
bid to such acquisition vehicle or vehicles, (ii) each of the Secured Parties’ ratable interests in the Obligations which were
credit bid shall be deemed without any further action under this Agreement to be assigned to such vehicle or vehicles for the purpose
of closing such sale, (iii) the Administrative Agent shall be authorized to adopt documents providing for the governance of the acquisition
vehicle or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including
any disposition of the assets or equity interests thereof, shall be governed, directly or indirectly, by, and the governing documents
shall provide for, control by the vote of the Required Lenders or their permitted assignees under the terms of this Agreement or the
governing documents of the applicable acquisition vehicle or vehicles, as the case may be, irrespective of the termination of this Agreement
and without giving effect to the limitations on actions by the Required Lenders contained in Section 11.1 of this Agreement),
(iv) the Administrative Agent on behalf of such acquisition vehicle or vehicles shall be authorized to issue to each of the Secured Parties,
ratably on account of the relevant Obligations which were credit bid, interests, whether as equity, partnership interests, limited partnership
interests or membership interests, in any such acquisition vehicle and/or debt instruments issued by such acquisition vehicle, all without
the need for any Secured Party or acquisition vehicle to take any further action, and (v) to the extent that Obligations that are assigned
to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because
the amount of Obligations assigned to the acquisition vehicle exceeds the amount of Obligations credit bid by the acquisition vehicle
or otherwise), such Obligations shall automatically be reassigned to the Secured Parties pro rata with their original interest in such
Obligations and the equity interests and/or debt instruments issued by any acquisition vehicle on account of such Obligations shall automatically
be cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action. In the event of a foreclosure
by the Administrative Agent on any of the Collateral pursuant to a public or private sale or a sale of any of the Collateral pursuant
to Section 363 of the Bankruptcy Code (or an equivalent process in any foreign jurisdiction), the Administrative Agent or any Lender
may be the purchaser of any or all of such Collateral at any such sale and the Administrative Agent, as agent for and representative
of the Lenders (but not any Lender or Lenders in its or their respective individual capacities unless the Required Lenders shall otherwise
agree in writing) shall be entitled, with the consent or at the direction of the Required Lenders, for the purpose of bidding and making
settlement or payment of the purchase price for all or any portion of the Collateral sold at any such sale, to use and apply any of the
Obligations as a credit on account of the purchase price for any Collateral payable by the Administrative Agent at such sale. Notwithstanding
that the ratable portion of the Obligations of each Secured Party are deemed assigned to the acquisition vehicle or vehicles as set forth
in clause (ii) above, each Secured Party shall execute such documents and provide such information regarding the Secured Party (and/or
any designee of the Secured Party which will receive interests in or debt instruments issued by such acquisition vehicle) as the Administrative
Agent may reasonably request in connection with the formation of any

 

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acquisition
vehicle, the formulation or submission of any credit bid or the consummation of the transactions contemplated by such credit bid.

 

10.16  
Acknowledgment of Lenders. (a) (i) Each Lender hereby agrees that (x) if the Administrative
Agent notifies such Lender that the Administrative Agent has determined in its sole discretion that any funds received by such
Lender from the Administrative Agent or any of its Affiliates (whether as a payment, prepayment or repayment of principal, interest,
fees or otherwise; individually and collectively, a “Payment”) were erroneously transmitted to such Lender
(whether or not known to such Lender), and demands the return of such Payment (or a portion thereof), such Lender shall promptly, but
in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion thereof)
as to which such a demand was made in same day funds, together with interest thereon in respect of each day from and including the date
such Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Administrative Agent at the greater
of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation
from time to time in effect, and (y) to the extent permitted by applicable law, such Lender shall not assert, and hereby waives, as to
the Administrative Agent, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim
by the Administrative Agent for the return of any Payments received, including without limitation any defense based on “discharge
for value” or any similar doctrine.  A notice of the Administrative Agent to any Lender under this Section 10.16(a) shall
be conclusive, absent manifest error.

 

(ii) Each Lender
hereby further agrees that if it receives a Payment from the Administrative Agent or any of its Affiliates (x) that is in a different
amount than, or on a different date from, that specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates)
with respect to such Payment (a “Payment Notice”) or (y) that was not preceded or accompanied by a Payment
Notice, it shall be on notice, in each such case, that an error has been made with respect to such Payment.  Each Lender agrees
that, in each such case, or if it otherwise becomes aware a Payment (or portion thereof) may have been sent in error, such Lender shall
promptly notify the Administrative Agent of such occurrence and, upon demand from the Administrative Agent, it shall promptly, but in
no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion thereof)
as to which such a demand was made in same day funds, together with interest thereon in respect of each day from and including the date
such Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Administrative Agent at the greater
of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation
from time to time in effect.

 

(iii) The Borrower and each other Loan
Party hereby agrees that (x) in the event an erroneous Payment (or portion thereof) are not recovered from any Lender that has received
such Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights of such Lender with
respect to such amount and (y) an erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed
by the Borrower or any other Loan Party, except, in each case, to the extent such erroneous Payment is, and solely with respect to the
amount of such erroneous Payment that is, comprised of funds of the Borrower or any other Loan Party

 

(iv) Each party’s
obligations under this Section 10.16(a) shall survive the resignation or replacement of the Administrative Agent or any transfer
of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction or discharge
of all Obligations under any Loan Document.

 

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SECTION
11.

MISCELLANEOUS

 

11.1  
Amendments and Waivers.

 

(a)  
Except as otherwise provided in clause (b) below or elsewhere in this Agreement, neither this Agreement nor any other
Loan Document (or any terms hereof or thereof) may be amended, supplemented or modified other than in accordance with the provisions
of this Section 11.1. The Required Lenders and each Loan Party party to the relevant Loan Document may, or, with the written
consent of the Required Lenders, the Administrative Agent and each Loan Party party to the relevant Loan Document may, from time to time,
(i) enter into written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding
any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Loan Parties
hereunder or thereunder or (ii) waive, on such terms and conditions as the Required Lenders or the Administrative Agent, as the
case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or
Event of Default and its consequences; provided, however, that no such waiver and no such amendment, supplement or modification
shall (A) forgive the principal amount or extend the final scheduled date of maturity of any Loan, reduce or forgive any prepayment
premium payable under Section 2.10(b), extend the scheduled date of any amortization payment in respect of any Term Loan,
reduce the stated rate of any interest or fee payable hereunder (except (x) in connection with the waiver of applicability of any post-default
increase in interest rates (which waiver shall be effective with the consent of the Required Lenders) and (y) that any amendment or modification
of defined terms used in the definition of “Total First Lien Net Leverage Ratio” in this Agreement shall not constitute a
reduction in the rate of interest or fees for purposes of this clause (A)) or extend the scheduled date of any payment thereof,
or increase the amount or extend the expiration date of any Lender’s Commitment or increase such Lender’s Commitment, in
each case without the written consent of each Lender directly and adversely affected thereby (it being understood that (i) the waiver
of or amendment to the terms of any mandatory prepayment of the Loans shall not constitute a postponement of any date scheduled for the
payment of principal or interest and (ii) a waiver of any condition precedent set forth in Section 5 or the waiver of any
Default, Event of Default, mandatory prepayment or mandatory reduction of the Commitments shall not constitute an extension or increase
of any Commitment of any Lender); (B) amend, modify, eliminate or reduce the voting rights of any Lender under this Section 11.1
without the written consent of all Lenders; (C) (x) reduce any percentage specified in the definition of “Required Lenders”,
(y) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other Loan
Documents and (z) release all or substantially all of the Collateral or release any of the Guarantors from their obligations under Section 8
of this Agreement or under any Security Agreement, in each case other than as permitted under this Agreement and the Loan Documents,
without the written consent of all Lenders; (D) amend, modify or waive any provision of Section 2.17(a) or (b),
Section 2.11(g) or Section 9.4 which results in a change to the pro rata application of Loans under any Facility
without the written consent of each Lender directly and adversely affected thereby in respect of each Facility adversely affected thereby;
(E) reduce the percentage specified in the definition of any of “Majority Revolving Lenders” or “Majority Term
Lenders” without the written consent of all Lenders under such Facility; (F) amend, modify or waive any provision of Section 10
without the written consent of the Administrative Agent; (G) amend, modify or waive any provision of Sections 2.6 or 2.7
without the written consent of the Designated Acquisition Swingline Lender; (H) [reserved]; (I) forgive the principal amount
or extend the payment date of any Reimbursement Obligation without the written consent of each Lender directly and adversely affected
thereby; or (J) [reserved]; and provided further that no amendment, waiver or consent shall, unless in writing and signed by the
applicable Issuing Lender, affect its rights or duties under this Agreement or under any Application or other document, agreement or
instrument entered into by such Issuing Lender and a Borrower (or any Restricted Subsidiary) pertaining to one or more Letters of Credit
issued or to be

 

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issued
by such Issuing Lender hereunder (except that this Agreement may be amended (A) to adjust the mechanics related to the issuance of Letters
of Credit, including mechanical changes relating to the existence of multiple Issuing Lenders, with only the written consent of the Administrative
Agent, the applicable Issuing Lender and the Borrower if the obligations of the Revolving Lenders, if any, who have not executed such
amendment, and if applicable the other Issuing Lenders, if any, who have not executed such amendment, are not adversely affected thereby
and (B) to adjust the L/C Sublimits of one or more Issuing Lenders after consultation with the Administrative Agent and any affected
Issuing Lenders in a manner which does not result in the aggregate L/C Sublimits exceeding the L/C Commitment with only the written consent
(with a copy to the Administrative Agent and any affected Issuing Lenders) of the Borrower and those Issuing Lenders whose L/C Sublimits
may be increased). Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and
shall be binding upon the Loan Parties, the Lenders, the Administrative Agent and all future holders of the Loans. In the case of any
waiver, the Loan Parties, the Lenders and the Administrative Agent shall be restored to their former position and rights hereunder and
under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing during the
period such waiver is effective; but no such waiver shall extend to any subsequent or other Default or Event of Default, or impair any
right consequent thereon.

 

(b)  
Notwithstanding anything in this Agreement (including clause (a) above) or any other Loan Document to the contrary:

 

(i)  
this Agreement may be amended (or amended and restated) with the written consent of the Administrative Agent, the Issuing Lenders
(to the extent affected), the Designated Acquisition Swingline Lender (to the extent affected), each Lender participating in the additional
or extended credit facilities contemplated under this clause (b)(i) and the Borrower (w) to add one or more additional credit facilities
to this Agreement or to increase the amount of the existing facilities under this Agreement and to permit the extensions of credit from
time to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement
and the other Loan Documents with the Term Loans and Revolving Extensions of Credit and the accrued interest and fees in respect thereof,
(x) to permit any such additional credit facility which is a term loan facility or any such increase in the Term Facility to share ratably
in prepayments with the Term Loans, (y) to permit any such additional credit facility which is a revolving loan facility or any such
increase in the Revolving Facility to share ratably in prepayments with the Revolving Facility and (z) to include appropriately
the Lenders holding such credit facilities in any determination of the Required Lenders and Majority Facility Lenders;

 

(ii)  
this Agreement may be amended with the written consent of the Administrative Agent, the Borrower and the Lenders providing the
relevant Repriced Term Loans (as defined below) to permit a (x) any prepayment, repayment, refinancing, substitution or replacement of
all or a portion of the Term Loans with the proceeds of, or any conversion of Term Loans into, any new or replacement tranche of syndicated
term loans bearing interest with an “effective yield” (taking into account interest rate margin and benchmark floors, recurring
fees and all upfront or similar fees or original issue discount paid by a Borrower (amortized over the shorter of (A) the Weighted Average
Life to Maturity of such term loans and (B) four years), but excluding (i) any arrangement, commitment, structuring, syndication, ticking
or other fees payable in connection therewith that are not shared ratably with all lenders or holders of such term loans in their capacities
as lenders or holders of such term loans in the primary syndication of such term loans and any bona fide arrangers, structuring, syndication,
commitment, ticking or other similar fees paid to a Lender or an Affiliate of a Lender in its capacity as a commitment party or arranger
and regardless of whether such indebtedness is syndicated to third parties and (ii) customary consent fees for any amendment paid generally
to consenting lenders or holders) less than the “effective yield” applicable to the Term Loans (determined on the same basis
as provided in the

 

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preceding
parenthetical) and (y) any amendment to the Term Loans or any tranche thereof which reduces the “effective yield” applicable
to such Term Loans, as applicable (as determined on the same basis as provided in clause (x)) (“Repriced Term Loans”);
provided that the Repriced Term Loans shall otherwise meet the Applicable Requirements;

 

(iii)  
this Agreement may be amended with the written consent of the Administrative Agent, the Borrower and the Lenders providing the
relevant Repricing Indebtedness to permit any Repricing Transaction;

 

(iv)  
this Agreement and the other Loan Documents may be amended or amended and restated as contemplated by Section 2.25
in connection with any Incremental Amendment and any related increase in Commitments or Loans, with the consent of the Borrower, the
Administrative Agent, the Incremental Arranger and the Incremental Term Lenders providing such increased Commitments or Loans (provided
that, if any Incremental Term Loans are intended to be Junior Lien Obligations, then the Administrative Agent may enter into an intercreditor
agreement (including an Intercreditor Agreement) (or amend, supplement or modify any existing Intercreditor Agreement) as may be necessary
or appropriate, in the reasonable opinion of the Administrative Agent, to effect the terms of any such Incremental Term Loans);

 

(v)  
this Agreement and the other Loan Documents may be amended in connection with the Incurrence of any Permitted Credit Agreement
Refinancing Debt pursuant to Section 2.26 to the extent (but only to the extent) necessary to reflect the existence and terms
of such Permitted Credit Agreement Refinancing Debt (including any amendments necessary to treat the Loans and Commitments subject thereto
as Other Term Loans, Other Revolving Loans, Other Revolving Commitments and/or Other Term Commitments), with the written consent of the
Borrower, the Refinancing Arranger, the Administrative Agent and each Additional Lender and Lender that agrees to provide any portion
of such Permitted Credit Agreement Refinancing Debt (provided that the Administrative Agent and the Borrower may effect such amendments
to this Agreement, any Intercreditor Agreement (or enter into a replacement thereof) and the other Loan Documents as may be necessary
or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the terms of such Refinancing Amendment);

 

(vi)  
this Agreement and the other Loan Documents may be amended in connection with any Permitted Amendment pursuant to a Loan Modification
Offer in accordance with Section 2.28(b) (and the Administrative Agent and the Borrower may effect such amendments to this
Agreement, any Intercreditor Agreement (or enter into a replacement thereof) and the other Loan Documents as may be necessary or appropriate,
in the reasonable opinion of the Administrative Agent and the Borrower, to effect the terms of such Permitted Amendment);

 

(vii)  
the Administrative Agent may amend any Intercreditor Agreement (or enter into a replacement thereof), additional Security Documents
and/or replacement Security Documents (including a collateral trust agreement) in connection with the Incurrence of (x) any Permitted
First Priority Refinancing Debt to provide that a Senior Representative acting on behalf of the holders of such Indebtedness shall become
a party thereto and shall have rights to share in the Collateral on a pari passu basis (but without regard to the control of remedies)
with the Obligations, (y) any Permitted Junior Priority Refinancing Debt to provide that a Senior Representative acting on behalf of
the holders of such Indebtedness shall become a party thereto and shall have rights to share in the Collateral on a junior lien basis
to the Obligations or (z) any Indebtedness Incurred pursuant to Section 7.2(b)(vi) or any other First Lien Obligations or
Junior Lien Obligations permitted hereunder to provide that an agent, trustee or other representative acting on behalf of the holders
of such Indebtedness shall become a party thereto and shall have rights to share in the Collateral on a pari passu or junior lien
basis to the Obligations;

 

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(viii)  
only the consent of the Majority Revolving Lenders shall be necessary to amend, modify or waive Sections 5.2 (with respect
to the making of Revolving Loans or Designated Acquisition Swingline Loans or the issuance of Letters of Credit), 7.1, 9.1(d),
9.2(b) and 9.3 (including, for the avoidance of doubt, any of the defined terms (including “Total First Lien Net
Leverage Ratio) used therein, but solely as used therein);

 

(ix)  
this Agreement and the other Loan Documents may be amended with the consent of the Administrative Agent and the Borrower to add
any terms or conditions for the benefit of the Lenders;

 

(x)  
amendments and waivers of this Agreement and the other Loan Documents that affect solely the Lenders under any applicable Class
under the Term Facility, Revolving Facility or any Incremental Facility (including waiver or modification of conditions to extensions
of credit under the Term Facility, Revolving Facility or any Incremental Facility, the availability and conditions to funding of any
Incremental Facility, and pricing and other modifications,) will require only the consent of Lenders holding more than 50% of the aggregate
commitments or loans, as applicable, under such Class, and, in each case, (x) no other consents or approvals shall be required and (y)
any fees or other consideration payable to obtain such amendments or waivers need only be offered on a pro rata basis to the Lenders
under the affected Class;

 

(xi)  
this Agreement and the other Loan Documents may be amended with the consent of the Administrative Agent and the Borrower (A) to
correct any mistakes or ambiguities of a technical nature and (B) to add any terms or conditions for the benefit of Lenders (or any Class
thereof); and

 

(xii)  
in connection with any determination as to whether the Required Lenders have (A) consented (or not consented) to any amendment
or waiver of any provision of this Agreement or any other Loan Document or any departure by any Loan Party therefrom, (B) otherwise acted
on any matter related to any Loan Document, or (C) directed or required the Administrative Agent or any Lender to undertake any action
(or refrain from taking any action) with respect to or under any Loan Document, any Lender (other than (x) any Lender that is a Regulated
Bank and (y) any Revolving Lender as of the Closing Date) that, as a result of its interest in any total return swap, total rate of return
swap, credit default swap or other derivative contract (other than any such total return swap, total rate of return swap, credit default
swap or other derivative contract entered into pursuant to bona fide market making activities), has a net short position with respect
to the Loans and/or Commitments (each, a “Net Short Lender”) shall have no right to vote any of its Loans and Commitments
and shall be deemed to have voted its interest as a Lender without discretion in the same proportion as the allocation of voting with
respect to such matter by Lenders who are not Net Short Lenders. For purposes of determining whether a Lender has a “net short
position” on any date of determination: (i) derivative contracts with respect to the Loans and Commitments and such contracts that
are the functional equivalent thereof shall be counted at the notional amount thereof in Dollars, (ii) notional amounts in other currencies
shall be converted to the dollar equivalent thereof by such Lender in a commercially reasonable manner consistent with generally accepted
financial practices and based on the prevailing conversion rate (determined on a mid-market basis) on the date of determination, (iii)
derivative contracts in respect of an index that includes any of the Borrower or other Loan Parties or any instrument issued or guaranteed
by any of the Borrower or other Loan Parties shall not be deemed to create a short position with respect to the Loans and/or Commitments,
so long as (x) such index is not created, designed, administered or requested by such Lender and (y) the Borrower and other Loan Parties
and any instrument issued or guaranteed by any of the Borrower or other Loan Parties, collectively, shall represent less than 5% of the
components of such index, (iv) derivative transactions that are documented using either the 2014 ISDA Credit Derivatives Definitions
or the 2003 ISDA Credit Derivatives Definitions (collectively, the “ISDA 

 

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CDS
Definitions”) shall be deemed to create a short position with respect to the Loans and/or Commitments if such Lender is a protection
buyer or the equivalent thereof for such derivative transaction and (x) the Loans or the Commitments are a “Reference Obligation”
under the terms of such derivative transaction (whether specified by name in the related documentation, included as a “Standard
Reference Obligation” on the most recent list published by Markit, if “Standard Reference Obligation” is specified
as applicable in the relevant documentation or in any other manner), (y) the Loans or the Commitments would be a “Deliverable Obligation”
under the terms of such derivative transaction or (z) any of the Borrower or other Loan Parties (or its successor) is designated as a
“Reference Entity” under the terms of such derivative transactions, and (v) credit derivative transactions or other derivatives
transactions not documented using the ISDA CDS Definitions shall be deemed to create a short position with respect to the Loans and/or
Commitments if such transactions are functionally equivalent to a transaction that offers the Lender protection in respect of the Loans
or the Commitments, or as to the credit quality of any of the Borrower or other Loan Parties other than, in each case, as part of an
index so long as (x) such index is not created, designed, administrated or requested by such Lender and (y) the Borrower and other Loan
Parties and any instrument issued or guaranteed by any of the Borrower or other Loan Parties, collectively, shall represent less than
5% of the components of such index. In connection with any such determination, each Lender (other than (x) any Lender that is a Regulated
Bank and (y) any Revolving Lender as of the Closing Date) shall promptly notify the Administrative Agent in writing that it is a Net
Short Lender, or shall otherwise be deemed to have represented and warranted to the Borrower and the Administrative Agent that it is
not a Net Short Lender (it being understood and agreed that the Administrative Agent shall be entitled to rely on each such representation
and deemed representation and shall have no duty to (x) inquire as to or investigate the accuracy of any such representation or deemed
representation or (y) otherwise ascertain or monitor whether any Lender, Eligible Assignee or Participant or prospective Lender, Eligible
Assignee or Participant is a Net Short Lender or make any calculations, investigations or determinations with respect to any derivative
contracts and/or net short positions). Without limiting the foregoing, the Administrative Agent shall not (A) be responsible or have
any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to
the Net Short Lenders or (B) have any liability with respect to or arising out of any assignment or participation of Loans to any Net
Short Lender.

 

11.2  
Notices. All notices, requests and demands to or upon the respective parties hereto
to be effective shall be in writing (including by facsimile or email, if applicable), and, unless otherwise expressly provided herein,
shall be deemed to have been duly given or made when delivered, or three (3) Business Days after being deposited in the mail, postage
prepaid, or, in the case of facsimile or email notice, when received, addressed as follows in the case of the Borrower, the Guarantors
and the Administrative Agent, and as set forth in an administrative questionnaire delivered to the Administrative Agent in the case of
the Lenders, or to such other address as may be hereafter notified by the respective parties hereto:

 

	To the Borrower or any Guarantor:	
    Baldwin Risk Partners, LLC

    

    4010 W. Boy Scout Blvd., Suite 200 

    Tampa, Florida 33607

    

    Attn: 

    Kris Wiebeck, Chief Financial Officer

    

    Trevor Baldwin, Chief Executive Officer 

    Brad Hale, Chief Accounting Officer

    

    Chris Stephens, General Counsel 

    Tel. No.: (813) 386-3329

    

    Email: kwiebeck@baldwinriskpartners.com

     

    with a copy to (which shall not constitute notice):

    

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	 	Davis Polk & Wardwell LLP

    450 Lexington Avenue

    New York, NY 10017

    

    Attention:  Joseph P. Hadley

    Phone No.:  (212) 450-4007

    Email:  joseph.hadley@davispolk.com
	 	 
	To the Administrative Agent, the
    Issuing Lenders, the Designated Acquisition Swingline Lender:

     
	To the addresses listed in Schedule 11.2

     

	 	 

; provided
that any notice, request or demand to or upon the Administrative Agent or the Lenders shall not be effective until received. In no event
shall a voice mail message be effective as a notice, communication or confirmation hereunder. All telephonic notices to the Administrative
Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.

 

Notices
and other communications to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to procedures approved
by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Section 2 unless otherwise
agreed by the Administrative Agent and the applicable Lender (“Approved Electronic Communications”). The Administrative
Agent or the Borrower may, in their discretion, agree to accept notices and other communications to it hereunder by electronic communications
pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications.
Unless the Administrative Agent otherwise prescribes, (a) notices and other communications sent to an email address shall be deemed
received upon the sender’s receipt of an acknowledgment from the intended recipient (such as by the “return receipt requested”
function, as available, return email or other written acknowledgment), provided that if such notice or other communication is
not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening
of business on the next Business Day for the recipient, and (b) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its email address as described in the foregoing clause (a)
of notification that such notice or communication is available and identifying the website address therefor.

 

Each
Loan Party agrees to assume all risk, and hold the Administrative Agent, the Joint Bookrunners, the Syndication Agents and each Lender
harmless from any losses, associated with, the electronic transmission of information (including the protection of confidential information),
except to the extent caused by the bad faith, gross negligence or willful misconduct of such Person, as determined in a final and non-appealable
decision of a court of competent jurisdiction.

 

THE
PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED PARTIES
WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS LIABILITY FOR
ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE
ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE

 

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PLATFORM.
IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY LOAN PARTY, ANY LENDER OR ANY OTHER
PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL
DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN PARTY’S OR THE ADMINISTRATIVE AGENT’S
TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING
BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH PERSON’S BAD FAITH, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

 

Each
Loan Party, the Lenders, the Issuing Lenders, the Designated Acquisition Swingline Lender, the Joint Lead Arrangers, the Joint Bookrunners,
the Syndication Agents and the Administrative Agent agree that the Administrative Agent may, but shall not be obligated to, store any
Approved Electronic Communications on the Platform in accordance with Administrative Agent’s customary document retention procedures
and policies.

 

Each
of the Borrower, the other Loan Parties, the Administrative Agent, the Issuing Lenders and the Designated Acquisition Swingline Lender
may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto.
Each other Lender may change its address, facsimile, telephone number or email address for notices and other communications hereunder
by notice to the Borrower, the Administrative Agent, the Issuing Lenders and the Designated Acquisition Swingline Lender. In addition,
each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an
effective address, contact name, telephone number, facsimile number and electronic mail address to which notices and other communications
may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one individual
at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation
on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public
Lender’s compliance procedures and applicable Law, including United States Federal and state securities Laws, to make reference
to documents or notices that are not made available through the “Public Side Information” portion of the Platform and that
may contain Private Lender Information.

 

11.3  
No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising,
on the part of the Administrative Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Loan Documents
shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude
any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and
privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

 

11.4  
Survival of Representations and Warranties. All representations and warranties made
hereunder, in the other Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith
shall survive the execution and delivery of this Agreement and the making of the Loans and other extensions of credit hereunder.

 

11.5  
Payment of Expenses; Indemnity; Limitation of Liability. (a) The Borrower agrees upon
the occurrence of the Closing Date (i) to pay or reimburse the Joint Lead Arrangers, the Joint Bookrunners, the Syndication Agents,
the Issuing Lenders, the Designated Acquisition Swingline Lender and the Administrative Agent
(without duplication) for all their reasonable and documented out-of-pocket costs and expenses incurred in connection with the syndication
of the Facilities and the

 

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development, preparation,
delivery, administration, enforcement and execution of, amendment, waiver, supplement or modification to, this Agreement and the other
Loan Documents and any other documents prepared in connection herewith or therewith, and the consummation and administration of the transactions
contemplated hereby and thereby, including the reasonable fees and disbursements of one primary outside counsel to the Administrative
Agent, the Issuing Lenders, the Designated Acquisition Swingline Lender, the Joint Lead Arrangers,
the Joint Bookrunners and the Syndication Agents, taken as a whole, and one local counsel to the foregoing Persons, taken as a whole,
in each appropriate jurisdiction (which may include one special counsel acting in multiple jurisdictions) (and additional counsel in
the case of actual or reasonably perceived conflicts where such Person informs the Borrower of such conflict and retains such counsel,
but excluding, in any case the allocated costs of in-house counsel), and filing and recording fees and expenses, with statements with
respect to the foregoing to be submitted to the Borrower on or prior to the Closing Date (in the case of amounts to be paid on the Closing
Date) and from time to time thereafter on a quarterly basis or such other periodic basis as the Administrative Agent shall deem appropriate,
(ii) to pay or reimburse each Lender, each Issuing Lender, the Designated Acquisition Swingline
Lender and the Administrative Agent for all of their reasonable and documented out-of-pocket costs and expenses (other than allocated
costs of in-house counsel) incurred in connection with the workout, restructuring, enforcement or preservation of any rights under this
Agreement, the other Loan Documents and any such other documents, including the reasonable and documented fees and disbursements of one
primary counsel to the Lenders, the Issuing Lenders, the Designated Acquisition Swingline Lender, the
Administrative Agent, the Joint Lead Arrangers, the Joint Bookrunners and the Syndication Agents, taken as a whole, and one local
counsel to the foregoing Persons, taken as a whole, in each appropriate jurisdiction (which may include one special counsel acting in
multiple jurisdictions) (and in the case of an actual or reasonably perceived conflict of interest by any of the foregoing Persons, where
such Person informs the Borrower of such conflict and retains such counsel, additional counsel to such affected Person), (iii) to
pay, indemnify, and hold each Lender, each Issuing Lender, the Designated Acquisition Swingline Lender
and the Administrative Agent harmless from, any and all recording and filing fees that may be payable or determined to be payable
in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any
amendment, supplement or modification of, or any waiver or consent under or in respect of, this Agreement, the other Loan Documents and
any such other documents and (iv) jointly and severally, to pay, indemnify, and hold each Lender, each Issuing Lender, the Designated
Acquisition Swingline Lender, the Administrative Agent, each Joint Lead Arranger, each Joint Bookrunner, each Syndication Agent,
each of their respective Affiliates that are providing services in connection with the financing contemplated by this Agreement and each
member, officer, director, partner, trustee, employee, agent, advisor, controlling person of the foregoing, other representative of the
foregoing, and successor and assign of the foregoing (each, an “Indemnitee”) harmless from and against any and all other
claims, liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, reasonable and documented out-of-pocket
expenses or disbursements of any kind or nature whatsoever with respect to or arising out of or in connection with the Acquisition, the
transactions contemplated hereby, any transactions contemplated in connection therewith and the execution, delivery, enforcement, performance
and administration of this Agreement, the other Loan Documents and any such other documents (regardless of whether any Indemnitee is
a party hereto and regardless of whether any such matter is initiated by a third party, the Borrower, any other Loan Party or any other
Person), including any of the foregoing relating to the use of proceeds of the Loans or the violation of, noncompliance with or liability
under, any Environmental Law relating to the Borrower or any Group Member or any of the Properties and the reasonable fees and expenses
of one primary legal counsel to the Indemnitees, taken as a whole (or in the case of an actual or reasonably perceived conflict of interest
by an Indemnitee, where such Person informs the Borrower of such conflict and retains such counsel, additional counsel to the affected
Indemnitees who are similarly situated, taken as a whole), and one local counsel in each appropriate jurisdiction (which may include
one special counsel acting in multiple jurisdictions) to the Indemnitees in connection with claims, actions or proceedings by any Indemnitee

 

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against any Loan Party
under any Loan Document (all the foregoing in this clause (iv), collectively, the “Indemnified Liabilities”) (but excluding
any losses, liabilities, claims, damages, costs or expenses relating to the matters referred to in Sections 2.18, 2.19 and 2.21
(which shall be the sole remedy in respect of the matters set forth therein)), provided that the Borrower shall not have any obligation
hereunder to any Indemnitee with respect to Indemnified Liabilities to the extent such Indemnified Liabilities (A) (I) are found by a
final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful
misconduct of such Indemnitee, (II) are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted
from a material breach of the Loan Documents by such Indemnitee or (III) result from any dispute that does not involve an act or omission
by the Borrower or any of its Affiliates and that is brought by any Indemnitee against any other Indemnitee (other than in its capacity
as Administrative Agent, Joint Lead Arranger, Joint Bookrunner, Syndication Agent, Designated Acquisition
Swingline Lender, Issuing Lender or similar role hereunder), or (B) settlements entered into by such person without the Borrower’s
written consent (such consent to not be unreasonably withheld, conditioned or delayed). All amounts due under this Section 11.5
shall be payable not later than 10 days after written demand therefor. Statements payable by the Borrower pursuant to this Section 11.5
shall be submitted to the Borrower at the address of the Borrower set forth in Section 11.2, or to such other Person or address
as may be hereafter designated by the Borrower in a written notice to the Administrative Agent. This Section 11.5 shall not apply
with respect to Taxes (other than any Taxes that represent losses, claims or damages arising from any non-Tax claim). The agreements
in this Section 11.5 shall survive the termination of this Agreement and the repayment of the Loans and all other amounts payable
hereunder. Each Indemnitee agrees to refund and return any and all Indemnified Liabilities paid by the Borrower to such Indemnitee pursuant
to this Section 11.5(a) if, pursuant to operation of any of the preceding clause (iv)(A) or (B), such Indemnitee was not entitled to
receipt of such amount.

 

(b)  To
the extent permitted by applicable law (i) the Borrower and any Loan Party shall not assert, and the Borrower and each Loan Party hereby
waives, any claim against any Agent, any Issuing Lender and any Lender, and any Related Party of any of the foregoing Persons (each such
Person being called a “Lender-Related Person”) for any Liabilities arising from the use by others of information or
other materials (including, without limitation, any personal data) obtained through telecommunications, electronic or other information
transmission systems (including the Internet), and (ii) no party hereto shall assert, and each such party hereby waives, any Liabilities
against any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct
or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, or any agreement or
instrument contemplated hereby or thereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof; provided
that, nothing in this clause (b)(ii) shall relieve the Borrower and each Loan Party of any obligation it may have to indemnify
an Indemnitee, as provided in Section 11.5(a), against any special, indirect, consequential or punitive damages asserted against
such Indemnitee by a third party.

 

11.6  
Successors and Assigns; Participations and Assignments.

 

(a)  
The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns permitted hereby (including any affiliate of any Issuing Lender that issues any Letter of Credit), except that the Borrower
may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender and
the Administrative Agent (and any attempted assignment or transfer by the Borrower without such consent shall be null and void).

 

(b)  
(i)(i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more Eligible Assignees
(each, an “Assignee”) all or a portion of its rights and

 

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obligations
under this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it and the Note or Notes (if any)
held by it) with the prior written consent (such consent not to be unreasonably withheld, conditioned or delayed) of:

 

		(A)	in
                                            the case of any Term Lender or any Revolving Lender, the Borrower, which request for consent
                                            (in the case of a Revolving Lender) shall be provided to the Borrower; provided that,
                                            with respect to the Term Facility, such consent shall be deemed to have been given if the
                                            Borrower, as the case may be, has not responded within ten (10)  Business Days after
                                            notice by the Administrative Agent, provided, further, that no consent of the
                                            Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved
                                            Fund (as defined below) or, if an Event of Default under Section 9.1(a) (or,
                                            in respect of the Borrower, Section 9.1(g)) has occurred and is continuing, any
                                            other Eligible Assignee;

 

		(B)	except
                                            with respect to an assignment of Loans to an existing Lender, an Affiliate of a Lender or
                                            an Approved Fund, the Administrative Agent (such consent not to be unreasonably withheld,
                                            conditioned or delayed);

 

		(C)	with
                                            respect to any proposed assignment of all or a portion of any Revolving Loan or Revolving
                                            Commitment and each Issuing Lender (such consent not to be unreasonably withheld, conditioned
                                            or delayed); and

 

		(D)	in
                                            the case of any Issuing Lender, with respect to an assignment of its L/C Commitment, the
                                            Borrower.

 

(ii)  
Assignments shall be subject to the following additional conditions:

 

		(A)	except
                                            in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or
                                            an assignment of the entire remaining amount of the assigning Lender’s Commitments
                                            or Loans under any Facility, the amount of the Commitments or Loans of the assigning Lender
                                            subject to each such assignment (determined as of the date the Assignment and Assumption
                                            with respect to such assignment is delivered to the Administrative Agent) shall not be less
                                            than (i) with respect to Term Loans, $1,000,000, and (ii) with respect to Revolving Loans
                                            and Revolving Commitments, $5,000,000 (provided that, in each case, that simultaneous
                                            assignments to or by two or more Approved Funds shall be aggregated for purposes of determining
                                            such amount) unless the Administrative Agent and, in the case of Term Loans, Revolving

 

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Commitments
or Revolving Loans or Incremental Term Loans or Incremental Term Commitments, the Borrower otherwise consents;

 

		(B)	the
                                            parties to each assignment shall execute and deliver to the Administrative Agent an Assignment
                                            and Assumption via an electronic settlement system acceptable to the Administrative Agent
                                            (or, if previously agreed with the Administrative Agent, manually), and shall pay to the
                                            Administrative Agent a processing and recordation fee of $3,500 (which such fee may be waived
                                            or reduced in the sole discretion of the Administrative Agent) for each assignment or group
                                            of affiliated or related assignments; and

 

		(C)	the
                                            Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an administrative
                                            questionnaire, all applicable Forms and all documentation and other information requested
                                            by the Administrative Agent in order to comply with applicable “know your customer”
                                            and anti-money laundering rules and regulations, including the Patriot Act.

 

This paragraph
(b) shall not prohibit any Lender from assigning all or any portion of its rights and obligations among separate Facilities on a non-pro
rata basis.

 

For
the purposes of this Section 11.6, “Approved Fund” means any Person (other than a natural person) that
is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course and that
is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity
that administers or manages a Lender.

 

(iii)  
Assignments to Permitted Auction Purchasers. Each Lender acknowledges that each Permitted Auction Purchaser is an Eligible
Assignee hereunder and may purchase or acquire Term Loans hereunder from Lenders from time to time (x) pursuant to a Dutch Auction in
accordance with the terms of this Agreement (including Section 11.6 hereof), subject to the restrictions set forth in the
definitions of “Eligible Assignee” and “Dutch Auction” or (y) pursuant to open market purchases (which may be
on a non-pro rata basis), in each case, subject to the following limitations:

 

		(A)	each
                                            Permitted Auction Purchaser agrees that, notwithstanding anything herein or in any of the
                                            other Loan Documents to the contrary, with respect to any Auction Purchase or other acquisition
                                            of Term Loans, (1) under no circumstances, whether or not any Loan Party is subject to a
                                            bankruptcy or other insolvency proceeding, shall such Permitted Auction Purchaser be permitted
                                            to exercise any voting rights or other privileges with respect to any Term Loans and any
                                            Term Loans that are assigned to such Permitted Auction Purchaser shall have no voting rights
                                            or other privileges under this Agreement and the other Loan Documents

 

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and
shall not be taken into account in determining any required vote or consent and (2) such Permitted Auction Purchaser shall not receive
information provided solely to Lenders by the Administrative Agent or any Lender and shall not be permitted to attend or participate
in meetings attended solely by Lenders and the Administrative Agent and their advisors; rather, all Loans held by any Permitted Auction
Purchaser shall be automatically Cancelled immediately upon the purchase or acquisition thereof in accordance with the terms of this
Agreement (including Section 11.6 hereof);

 

		(B)	at
                                            the time any Permitted Auction Purchaser is making purchases of Loans it shall enter into
                                            an Assignment and Assumption Agreement;

 

		(C)	immediately
                                            upon the effectiveness of each Auction Purchase or other acquisition of Term Loans, a Cancellation
                                            (it being understood that such Cancellation shall not constitute a voluntary repayment of
                                            Loans for purposes of this Agreement) shall be automatically irrevocably effected with respect
                                            to all of the Loans and related Obligations subject to such Auction Purchase, with the effect
                                            that such Loans and related Obligations shall for all purposes of this Agreement and the
                                            other Loan Documents no longer be outstanding, and the Borrower and the Guarantors shall
                                            no longer have any Obligations relating thereto, it being understood that such forgiveness
                                            and cancellation shall result in the Borrower and the Guarantors being irrevocably and unconditionally
                                            released from all claims and liabilities relating to such Obligations which have been so
                                            cancelled and forgiven, and the Collateral shall cease to secure any such Obligations which
                                            have been so cancelled and forgiven; and

 

		(D)	at
                                            the time of such Purchase Notice and Auction Purchase or other acquisition of Term Loans,
                                            (w) no Default or Event of Default shall have occurred and be continuing, (x) the Borrower
                                            or any of its Affiliates shall not be required to make any representation that it is not
                                            in possession of material non-public information with respect to the Borrower, its subsidiaries
                                            or its securities, and all parties to the relevant assignments shall render customary “big
                                            boy” disclaimer letters or any such disclaimers shall be incorporated into the terms
                                            of the applicable Assignment and Assumption, (y) any Affiliated Lender that is a Purchaser
                                            shall identify itself as such and (z) no proceeds of Revolving Loans shall be used to consummate
                                            the Auction Purchase.

 

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Notwithstanding
anything to the contrary herein, this Section 11.6(b)(iii) shall supersede any provisions in Section 2.17 to
the contrary.

 

(iv)  
Assignments to Affiliated Lenders. Any Lender may, at any time, assign all or a portion of its rights and obligations with
respect to the Term Loans to an Affiliated Lender through (x) Dutch Auctions open to all Lenders on a pro rata basis or (y) open
market purchases (which may be on a non-pro rata basis), in each case subject to the following limitations:

 

		(A)	notwithstanding
                                            anything in Section 11.1 or the definition of “Required Lenders”
                                            to the contrary, for purposes of determining whether the Lenders have (1) consented
                                            to any amendment, waiver or modification of any Loan Document (including such modifications
                                            pursuant to Section 11.1), (2) otherwise acted on any matter related to any Loan
                                            Document, (3) directed or required Administrative Agent or any Lender to undertake any
                                            action (or refrain from taking any action) with respect to or under any Loan Document, or
                                            (4) subject to Section 2.23, voted on any plan of reorganization pursuant to
                                            Title 11 of the United States Code, that in either case does not require the consent of each
                                            Lender or each affected Lender or does not adversely affect such Affiliated Lender disproportionately
                                            in any material respect as compared to other Lenders and any Non-Debt Fund Affiliate will
                                            be deemed to have voted in the same proportion as Lenders that are not Affiliated Lenders
                                            voting on such matter and each Non-Debt Fund Affiliate each hereby acknowledges, agrees and
                                            consents that if, for any reason, its vote to accept or reject any plan pursuant to Title
                                            11 of the United States Code) is not deemed to have been so voted, then such vote will be
                                            (x) deemed not to be in good faith and (y) “designated” pursuant to Section 1126(e)
                                            of Title 11 of the United States Code such that the vote is not counted in determining whether
                                            the applicable class has accepted or rejected such plan in accordance with Section 1126(c)
                                            of Title 11 of the United States Code; provided
                                            that, for the avoidance of doubt, Debt Fund Affiliates shall not be subject to such limitation
                                            and shall be entitled to vote as any other Lender; provided, further, that,
                                            notwithstanding the foregoing or anything herein to the contrary, Debt Fund Affiliates may
                                            not in the aggregate account for more than 49.9% of the amounts set forth in the calculation
                                            of Required Lenders and any amount in excess of 49.9% will be subject to the limitations
                                            set forth in this clause (A);

 

		(B)	the
                                            Non-Debt Fund Affiliates shall not receive information provided solely to Lenders by the
                                            Administrative Agent or any Lender and shall not be

 

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permitted
to attend or participate in meetings attended solely by Lenders and the Administrative Agent and their advisors, other than the right
to receive notices of Borrowings, notices of prepayments and other administrative notices in respect of its Loans or Commitments required
to be delivered to Lenders pursuant to Section 2;

 

		(C)	at
                                            the time any Affiliated Lender is making purchases of Loans pursuant to a Dutch Auction it
                                            shall identify itself as an Affiliated Lender and shall enter into an Assignment and Assumption
                                            Agreement;

 

		(D)	no
                                            Affiliated Lender shall be required to make any representation that it is not in possession
                                            of material non-public information with respect to the Borrower, its Subsidiaries or its
                                            securities, and all parties to the relevant assignments shall render customary "big
                                            boy" disclaimer letters or any such disclaimers shall be incorporated into the terms
                                            of the applicable Assignment and Assumption;

 

		(E)	to
                                            the extent such remain outstanding, the aggregate principal amount of all Term Loans which
                                            may be purchased by any Non-Debt Fund Affiliate through Dutch Auctions or assigned to any
                                            Non-Debt Fund Affiliate through open market purchases shall in no event exceed, as calculated
                                            at the time of the consummation of any aforementioned Purchases or assignments, 30% of the
                                            aggregate Outstanding Amount of the Term Loans at such time;

 

		(F)	the
                                            Non-Debt Fund Affiliates and their respective Affiliates shall not be permitted to vote on
                                            bankruptcy plans or reorganization; and

 

		(G)	notwithstanding
                                            anything to the contrary herein, each Affiliated Lender, in its capacity as a Term Lender,
                                            in its sole and absolute discretion, may make one or more capital contributions or assignments
                                            of Term Loans that it acquires pursuant to this Section 11.6(b)(iv) directly or indirectly
                                            to the Borrower solely in exchange for Capital Stock of the Borrower (other than Disqualified
                                            Stock) or Parent Holding Company or debt securities of a Parent Holding Company, in each
                                            case upon written notice to the Administrative Agent. Immediately upon the Borrower’s
                                            acquisition of Term Loans from an Affiliated Lender, such Term Loans and all rights and obligations
                                            as a Term Lender related thereto shall for all purposes (including under this Agreement,
                                            the other Loan Documents and otherwise) be deemed to be

 

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irrevocably
prepaid, terminated, extinguished, canceled and of no further effect and the Borrower shall neither obtain nor have any rights as a Lender
hereunder or under the other Loan Documents by virtue of such capital contribution or assignment.

 

Notwithstanding
anything to the contrary herein, this Section 11.6(b)(iv) shall supersede any provisions in Section 2.17 to the
contrary.

 

(v)  
Subject to acceptance and recording thereof pursuant to Section 11.6(b)(vi) below, from and after the effective
date specified in each Assignment and Assumption the Assignee thereunder shall be a party hereto and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement,
such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.18, 2.19,
2.21 and 11.5 with respect to facts and circumstances occurring prior to the effective date of such assignment). Other
than with respect to Disqualified Lenders, any assignment or transfer by a Lender of rights or obligations under this Agreement that
does not comply with this Section 11.6(b) shall be treated for purposes of this Agreement as a sale by such Lender of a participation
in such rights and obligations in accordance with paragraph (c) of this Section 11.6.

 

(vi)  
The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices
a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders,
and the Commitments of, and principal amount of (and any stated interest on) the Loans and L/C Obligations owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest
error, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant
to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. No assignment shall
be effective unless recorded in the Register. The Register shall be available for inspection by the Borrower, any Issuing Lender and
any Lender at any reasonable time and from time to time upon reasonable prior notice. For the avoidance of doubt, the language in this
Section 11.6(b)(vi) is intended to ensure that the Commitments, Loans, L/C Obligations or other obligations under the Loan Documents
are in “registered form” under Sections 5f.103-1(c) and 1.871-14(c) of the United States Treasury Regulations Sections and
within the meaning of 163(f), 871(h)(2) and 881(c)(2) of the Code, and such language shall be interpreted and applied consistently therewith.

 

(vii)  
Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an Assignee, the Assignee’s
completed administrative questionnaire and applicable Forms (unless the Assignee shall already be a Lender hereunder), together with
(x) any processing and recordation fee and (y) any written consent to such assignment required by Section 11.6(b), the Administrative
Agent shall promptly accept such Assignment and Assumption and record the information contained therein in the Register. No assignment
shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.

 

(c)  
(i)(i) Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks
or other entities (other than a natural person, a Disqualified Lender, the Borrower or any Subsidiary of the Borrower) (a “Participant”)
in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its

 

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Commitments
and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the
Borrower, the Administrative Agent, the Issuing Lenders and the other Lenders shall continue to deal solely and directly with such Lender
in connection with such Lender’s rights and obligations under this Agreement. Any agreement pursuant to which a Lender sells such
a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification
or waiver of any provision of this Agreement; provided that such agreement may provide that such Lender will not, without the
consent of the Participant, agree to any amendment, modification or waiver that (1) requires, subject to Section 11.1(b),
the consent of each Lender directly affected thereby pursuant to clauses (A) and (C) of Section 11.1(a)
and (2) directly affects such Participant. Subject to Section 11.6(c)(ii), the Borrower agree that each Participant
shall be entitled to the benefits of Sections 2.18, 2.19 and 2.21 (subject to the requirements and limitations
of those sections) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 11.6(b).
To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.8(b) as though it were
a Lender, provided such Participant shall be subject to Section 11.8(a) as though it were a Lender. Each Lender that sells
a participation shall, acting solely for U.S. federal income tax purposes as a non-fiduciary agent of the Borrower, maintain a register
on which it enters the name and address of each Participant and the commitment of, and the principal amounts (and stated interest) of,
each Participant’s interest in the Loans, L/C Obligations or other obligations under the Loan Documents (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register
to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments,
Loans, L/C Obligations or its other obligations under any Loan Document) except to the extent that the relevant parties, acting reasonably
and in good faith, determine that such disclosure is necessary to establish that such Commitment, Loan, L/C Obligation or other obligation
is in registered form under Sections 5f.103-1(c) and 1.871-14(c) of the United States Treasury Regulations and Sections 163(f),
871(h)(2) and 881(c)(2) of the Code. No participation shall be effective unless recorded in the Participant Register. Unless otherwise
required by the IRS, any disclosure required by the foregoing sentence shall be made by the relevant Lender directly and solely to the
IRS. The entries in the Participant Register shall be conclusive, and such Lender shall treat each Person whose name is recorded in the
Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.

 

(ii)  
A Participant shall not be entitled to receive any greater payment under Section 2.18 or 2.19 than the applicable
Lender would have been entitled to receive with respect to the participation sold to such Participant except to the extent such greater
payment is attributable to a Change in Law after the date the Participant acquired the applicable participation. No Participant shall
be entitled to the benefits of Section 2.19 unless such Participant complies with Section 2.19(e) (it being understood
that the documentation required thereunder shall be delivered to the participating Lender).

 

(d)  
Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any other central bank,
and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment
of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or Assignee for such
Lender as a party hereto.

 

(e)  
The Borrower, upon receipt of written notice from the relevant Lender, agrees to issue Notes to any Lender requiring Notes to
facilitate transactions of the type described in Section 11.6(d) above.

 

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(f)  
Each Lender, upon execution and delivery hereof or upon succeeding to an interest in Commitments or Loans, as the case may be,
makes, as of the Closing Date or as of the effective date of the applicable Assignment and Assumption, as applicable, the representations
and warranties contained in Section 10.7.

 

(g)  
Each Lender, upon succeeding to an interest in Commitments or Loans, as the case may be, represents and warrants as of the effective
date of the applicable Assignment and Assumption that it is an Eligible Assignee.

 

11.7  
[Reserved].

 

11.8  
Adjustments; Set-off.

 

(a)  
Except to the extent that this Agreement expressly provides for or permits payments to be allocated or made to a particular Lender
or to the Lenders under a particular Facility, if any Lender (a “Benefited Lender”) shall receive any payment of all
or part of the Obligations owing to it under any Facility, or receive any collateral in respect thereof (whether voluntarily or involuntarily,
by set-off, pursuant to events or proceedings of the nature referred to in Section 9.1(g) or otherwise), in a greater proportion
than any such payment to or collateral received by any other Lender, if any, in respect of the Obligations owing to such other Lender
under such Facility, such Benefited Lender shall purchase for cash from the other Lenders under such Facility a participating interest
in such portion of the Obligations owing to each such other Lender, or shall provide such other Lenders with the benefits of any such
collateral, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral ratably with
each of the Lenders under such Facility; provided, however, that if all or any portion of such excess payment or benefits
is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to
the extent of such recovery, but without interest.

 

(b)  
In addition to any rights and remedies of the Lenders provided by law, each Lender shall have the right, with the prior consent
of the Administrative Agent, without prior notice to the Borrower or any other Loan Party, any such notice being expressly waived by
the Borrower and each other Loan Party to the extent permitted by applicable law, upon the occurrence and during the continuance of any
Event of Default, to set off and appropriate and apply against any Obligations then due, payable and owing any and all deposits (general
or special, time or demand, provisional or final) (other than payroll, trust and tax accounts described in clause (ix) of the
definition of “Excluded Assets”), in any currency, and any other credits, indebtedness or claims, in any currency, in each
case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch
or agency thereof to or for the credit or the account of the Borrower or any such other Loan Party, as the case may be (but excluding,
for the avoidance of doubt, any Excluded Assets). Each Lender agrees promptly to notify the Borrower and the Administrative Agent after
any such setoff and application made by such Lender, provided that the failure to give such notice shall not affect the validity
of such setoff and application.

 

11.9  
[Reserved].

 

11.10  
Counterparts; Electronic Execution.

 

(a)  
This Agreement any other Loan Document and/or any document, amendment, approval, consent, information, notice (including, for
the avoidance of doubt, any notice delivered pursuant to Section 11.2), certificate, request, statement, disclosure or authorization
related to this Agreement, any other Loan Document and/or the transactions contemplated hereby and/or thereby (each

 

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an
“Ancillary Document”) that is an Electronic Signature transmitted by telecopy, emailed pdf. or any other electronic
means that reproduces an image of an actual executed signature page may be executed by one or more of the parties to this Agreement,
any other Loan Document and/or any Ancillary Document, as applicable, on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page of
this Agreement, any other Loan Document and/or any Ancillary Document that is an Electronic Signature transmitted by telecopy, emailed
pdf. or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a
manually executed counterpart of this Agreement, such other Loan Document or such Ancillary Document, as applicable. A set of the copies
of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent.

 

(b)  
The words “execution,” “signed,” “signature,” “delivery,” and words of like import
in or relating to this Agreement, any other Loan Document and/or any Ancillary Document shall be deemed to include Electronic Signatures,
deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means
that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity or enforceability
as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided
that nothing herein shall require the Administrative Agent to accept Electronic Signatures in any form or format without its prior
written consent and pursuant to procedures approved by it; provided, further, without limiting the foregoing, (i) to the
extent the Administrative Agent has agreed to accept any Electronic Signature, the Administrative Agent and each of the Lenders shall
be entitled to rely on such Electronic Signature purportedly given by or on behalf of the Borrower or any other Loan Party without further
verification thereof and without any obligation to review the appearance or form of any such Electronic signature and (ii) upon the request
of the Administrative Agent or any Lender, any Electronic Signature shall be promptly followed by a manually executed counterpart. Without
limiting the generality of the foregoing, the Borrower and each Loan Party hereby (i) agrees that, for all purposes, including without
limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the Administrative
Agent, the Lenders, and the Borrower and the Loan Parties, Electronic Signatures transmitted by telecopy, emailed pdf. or any other electronic
means that reproduces an image of an actual executed signature page and/or any electronic images of this Agreement, any other Loan Document
and/or any Ancillary Document shall have the same legal effect, validity and enforceability as any paper original, (ii) the Administrative
Agent and each of the Lenders may, at its option, create one or more copies of this Agreement, any other Loan Document and/or any Ancillary
Document in the form of an imaged electronic record in any format, which shall be deemed created in the ordinary course of such Person’s
business, and destroy the original paper document (and all such electronic records shall be considered an original for all purposes and
shall have the same legal effect, validity and enforceability as a paper record), (iii) waives any argument, defense or right to contest
the legal effect, validity or enforceability of this Agreement, any other Loan Document and/or any Ancillary Document based solely on
the lack of paper original copies of this Agreement, such other Loan Document and/or such Ancillary Document, respectively, including
with respect to any signature pages thereto and (iv) waives any claim against any Lender-Related Person for any Liabilities arising solely
from the Administrative Agent’s and/or any Lender’s reliance on or use of Electronic Signatures and/or transmissions by telecopy,
emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page, including any Liabilities arising
as a result of the failure of the Borrower and/or any Loan Party to use any available security measures in connection with the execution,
delivery or transmission of any Electronic Signature.

 

11.11  
Severability. Any provision of this Agreement that is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or

 

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unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

 

11.12  
Integration. This Agreement and the other Loan Documents and any separate letter agreements
with respect to fees payable to the Joint Lead Arranger, the Joint Bookrunners, the Syndication Agents and the Administrative Agent represent
the entire agreement of the Borrower, the Administrative Agent and the Lenders with respect to the subject matter hereof and thereof,
and there are no promises, undertakings, representations or warranties by the Administrative Agent or any Lender relative to the subject
matter hereof not expressly set forth or referred to herein or in the other Loan Documents.

 

11.13  
Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER
THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

11.14  
Submission To Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

 

(a)  
submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents
to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction
of the courts of the Commercial Division of the State of New York sitting in the borough of Manhattan in New York City, the courts of
the United States for the Southern District of New York, and appellate courts from any thereof, to the extent such courts would
have subject matter jurisdiction with respect thereto, and agrees that notwithstanding the foregoing (x) a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law and (y) legal actions or proceedings brought by the Secured Parties in connection with the exercise of rights and remedies with
respect to Collateral may be brought in other jurisdictions where such Collateral is located or such rights or remedies may be exercised;

 

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

 

(c)  
CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.2; and

 

(d)  
waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding
arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions,
any Loan or Letter of Credit or the use of the proceeds thereof, any special, exemplary, punitive or consequential damages against any
Indemnitee; provided that nothing contained in this sentence shall limit the Borrower’s indemnification obligations.

 

11.15  
Acknowledgements. The Borrower and each Guarantor hereby acknowledges that:

 

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(a)  
it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents;

 

(b)  
neither the Administrative Agent nor any Lender has any fiduciary relationship with or duty to the Borrower or any Guarantor arising
out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between Administrative Agent and
Lenders, on one hand, and the Borrower and each Guarantor, on the other hand, in connection herewith or therewith is solely that of debtor
and creditor; and

 

(c)  
no joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated
hereby among the Lenders or among the Borrower or the Guarantors and the Lenders.

 

11.16  
Acknowledgement and Consent to Bail-In of Affected Financial Institutions.

 

Solely
to the extent any Lender or Issuing Lender that is an Affected Financial Institution is a party to this Agreement and notwithstanding
anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party
hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability
is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to,
and acknowledges and agrees to be bound by:

 

(a)  
the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising
hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

 

(b)  
the effects of any Bail-In Action on any such liability, including, if applicable:

 

(i)  
a reduction in full or in part or cancellation of any such liability;

 

(ii)  
a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares
or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement
or any other Loan Document; or

 

(iii)  
the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable
Resolution Authority.

 

11.17  
Confidentiality. Each of the Administrative Agent and each Lender agrees to keep confidential
all non-public information provided to it by any Loan Party, the Administrative Agent or any Lender pursuant to or in connection with
this Agreement that is not designated by the provider thereof as public information or non-confidential; provided that nothing herein
shall prevent the Administrative Agent or any Lender from disclosing any such information (a) to the Administrative Agent, the Joint
Lead Arrangers, the Joint Bookrunners, the Syndication Agents, any other Lender or any Affiliate thereof (including prospective lenders)
under this Agreement), (b) subject to an agreement to comply with provisions no less restrictive than this Section 11.17, to any
actual or prospective Transferee or any direct or indirect counterparty to any Swap Agreement (or any professional advisor to such counterparty)
(other than Disqualified Lenders), (c) to its employees, directors, trustees, agents, attorneys, accountants and other professional
advisors and to the employees, directors, trustees, agents, attorneys, accountants and other professional advisors of its Affiliates
or of actual or prospective Transferees that, in each case, have

 

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been advised of the
provisions of this Section 11.17 and have been instructed to keep such information confidential, (d) upon the request or demand
or other requirement of any Governmental Authority or any self-regulatory authority having or asserting jurisdiction over such Person
(including any Governmental Authority regulating any Lender or its Affiliates), in which case, to the extent permitted by law, you agree
to inform the Borrower promptly thereof prior to such disclosure to the extent practicable (except with respect to (I) any audit or examination
conducted by bank accountants or any governmental regulatory authority or self-regulatory authority exercising examination or regulatory
authority or (II) any such notification prohibited by law, rule or regulation), (e) in response to any order of any court or other
Governmental Authority or as may otherwise be required pursuant to any Requirement of Law, in which case, to the extent permitted by
law, you agree to inform the Borrower promptly thereof to the extent practicable (except with respect to any audit or examination conducted
by bank accountants or any governmental regulatory authority or self-regulatory authority exercising examination or regulatory authority),
(f) if requested or required to do so in connection with any litigation or similar proceeding, in which case, to the extent permitted
by law, you agree to inform the Borrower promptly thereof; provided that unless specifically prohibited by applicable law, reasonable
efforts shall be made to notify the Borrower of any such request prior to disclosure, (g) that has been publicly disclosed other
than as a result of a breach of this Section 11.17, (h) to the National Association of Insurance Commissioners or any similar organization
or any nationally recognized rating agency that requires access to information about a Lender’s investment portfolio in connection
with ratings issued with respect to such Lender; provided, such Person has been advised of the provisions of this Section 11.17 and instructed
to keep such information confidential, (i) market data collectors and service providers to the Administrative Agent or any Lender in
connection with the administration and management of the Facilities, (j) to the extent that such information is or was received
by the Administrative Agent or any Lender from a third party that is not to the knowledge of the Administrative Agent, such Lender or
any affiliates thereof subject to confidentiality obligations owing to any Loan Party or any of their respective subsidiaries or (k) in
connection with the exercise of any remedy hereunder or under any other Loan Document. In addition, the Administrative Agent and the
Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service
providers to the lending industry, and service providers to the Administrative Agent and the Lenders in connection with the administration
and management of this Agreement, the other Loan Documents, the Commitments, and the extensions of credit hereunder. Notwithstanding
anything herein to the contrary, any party to this Agreement (and any employee, representative, or other agent of any party to this Agreement)
may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transactions contemplated
by this Agreement and all materials of any kind (including opinions or other tax analyses) that are provided to it relating to such tax
treatment and tax structure. However, any such information relating to the tax treatment or tax structure is required to be kept confidential
to the extent necessary to comply with any applicable federal or state securities laws.

 

The
respective obligations of the Administrative Agent and the Lenders under this Section 11.17 shall survive, to the extent applicable
to such Person, (x) the payment in full of the Obligations and the termination of this Agreement, (y) any assignment of its rights and
obligations under this Agreement and (z) the resignation or removal of the Administrative Agent, in each case for a period of one (1)
year.

 

11.18  
Waivers Of Jury Trial. EACH OF THE BORROWER, THE GUARANTORS, THE ADMINISTRATIVE AGENT
AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

11.19  
USA Patriot Act Notification; Beneficial Ownership. Each Lender that is subject to
the Patriot Act and the Beneficial Ownership Regulation and the Administrative Agent (for itself and not on

 

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behalf of any Lender)
hereby notifies the Borrower that pursuant to the requirements of the Patriot Act and the Beneficial Ownership Regulation, it is required
to obtain, verify and record information that identifies the Loan Parties, which information includes the name and address of the Loan
Parties and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Loan Parties in
accordance with the Patriot Act and the Beneficial Ownership Regulation. The Borrower shall, promptly following a request by the Administrative
Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests that is required
in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and
regulations, including the Patriot Act and the Beneficial Ownership Regulation.

 

11.20  
Maximum Amount.

 

(a)  
It is the intention of the Borrower and the Lenders to conform strictly to the usury and similar laws relating to interest from
time to time in force, and all agreements between the Loan Parties and their respective Subsidiaries and the Lenders, whether now existing
or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever, whether
by acceleration of maturity hereof or otherwise, shall the amount paid or agreed to be paid in the aggregate to the Lenders as interest
(whether or not designated as interest, and including any amount otherwise designated but deemed to constitute interest by a court of
competent jurisdiction) hereunder or under the other Loan Documents or in any other agreement given to secure the Indebtedness evidenced
hereby or other Obligations of the Borrower, or in any other document evidencing, securing or pertaining to the Indebtedness evidenced
hereby, exceed the maximum amount permissible under applicable usury or such other laws (the “Maximum Amount”). If
under any circumstances whatsoever fulfillment of any provision hereof, or any of the other Loan Documents, at the time performance of
such provision shall be due, shall involve exceeding the Maximum Amount, then, ipso facto, the obligation to be fulfilled shall be reduced
to the Maximum Amount. For the purposes of calculating the actual amount of interest paid and/or payable hereunder in respect of laws
pertaining to usury or such other laws, all sums paid or agreed to be paid to the holder hereof for the use, forbearance or detention
of the Indebtedness of the Borrower evidenced hereby, outstanding from time to time shall, to the extent permitted by applicable Law,
be amortized, pro-rated, allocated and spread from the date of disbursement of the proceeds of the Loans until payment in full of all
of such Indebtedness, so that the actual rate of interest on account of such Indebtedness is uniform through the term hereof. The terms
and provisions of this Section 11.20(a) shall control and supersede every other provision of all agreements between the Borrower
or any endorser of the Loans and the Lenders.

 

(b)  
If under any circumstances any Lender shall ever receive an amount which would exceed the Maximum Amount, such amount shall be
deemed a payment in reduction of the principal amount of the Loans and shall be treated as a voluntary prepayment under Section 2.10
and shall be so applied in accordance with Section 2.17 or if such excessive interest exceeds the unpaid balance of the
Loans and any other Indebtedness of the Borrower in favor of such Lender, the excess shall be deemed to have been a payment made by mistake
and shall be refunded to the Borrower.

 

11.21  
Lender Action. Each Lender agrees that it shall not take or institute any actions
or proceedings, judicial or otherwise, for any right or remedy against any Loan Party or any other obligor under any of the Loan Documents
(including the exercise of any right of setoff, rights on account of any banker’s lien or similar claim or other rights of self-help),
or institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or any other property
of any such Loan Party, unless expressly provided for herein or in any other Loan Document, without the prior written consent of the
Administrative Agent. The provisions of this Section 11.21 are for the sole benefit of the Lenders and shall not afford any right
to, or constitute a defense available to, any Loan Party.

 

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11.22  
No Fiduciary Duty. Each of the Lender-Related Parties may have economic interests
that conflict with those of the Loan Parties, their stockholders and/or their Affiliates. Each Loan Party agrees that nothing in the
Loan Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty
between any Lender-Related Party, on the one hand, and such Loan Party, its stockholders or its Affiliates, on the other, except as otherwise
explicitly provided herein. The Loan Parties acknowledge and agree that (i) the transactions contemplated by the Loan Documents
(including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Lender-Related
Parties, on the one hand, and the Loan Parties, on the other, and (ii) in connection therewith and with the process leading thereto,
(x) no Lender-Related Party has assumed an advisory or fiduciary responsibility in favor of any Loan Party, its stockholders or its Affiliates
with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading
thereto (irrespective of whether any Lender-Related Party has advised, is currently advising or will advise any Loan Party, its stockholders
or its Affiliates on other matters) or any other obligation to any Loan Party except the obligations expressly set forth in the Loan
Documents and (y) each Lender-Related Party is acting solely as principal and not as the agent or fiduciary of any Loan Party, its management,
stockholders, creditors or any other Person, except as otherwise explicitly provided herein. Each Loan Party acknowledges and agrees
that it has consulted its own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making
its own independent judgment with respect to such transactions and the process leading thereto. Each Loan Party agrees that it will not
claim that any Lender-Related Party has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to such
Loan Party, in connection with such transaction or the process leading thereto.

 

11.23  
Acknowledgments Regarding any Supported QFCs.

 

To
the extent that the Loan Documents provide support, through a guarantee or otherwise, for Swap Obligations or any other agreement or
instrument that is a QFC (such support, “QFC Credit Support” and each such QFC, a “Supported QFC”),
the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under
the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations
promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with
the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by
the laws of the State of New York and/or of the United States or any other state of the United States):

 

In the event a Covered
Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special
Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in
or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support)
from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime
if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws
of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes
subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to
such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater
extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents
were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood
and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered
Party with respect to a Supported QFC or any QFC Credit Support.

 

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[Signature
Pages Intentionally Omitted]

 

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