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SEPARATION AGREEMENT AND RELEASE
This Separation Agreement and Release (“Agreement”) is made between Scholar Rock, Inc., a Delaware corporation (the “Company”) and Stuart A. Kingsley (the “Executive”).  The Company together with the Executive shall be referred to as the “Parties”. Terms with initial capitalization not otherwise defined shall have the meanings ascribed to such terms in the Employment Agreement (as defined below). 
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WHEREAS, the Parties entered into an Employment Agreement dated as of July 14, 2020 (the “Employment Agreement”);
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WHEREAS, pursuant to the Employment Agreement, the Company agreed to provide the Executive with certain severance pay and benefits (the “Severance Benefits”) in the event of certain cessations of employment, subject to, among other things, the Executive entering into, not revoking and complying with a Separation Agreement and Release;
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WHEREAS, the Executive’s employment with the Company is ending pursuant to Section 3(c) and Section 4(b) of the Employment Agreement effective July 29, 2021 (the “Date of Termination”);
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WHEREAS, this Agreement is the Separation Agreement and Release referred to in the Employment Agreement;
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WHEREAS, in exchange for, among other things, the Executive entering into and not revoking this Agreement and fully complying with the Continuing Obligations (as defined below), the Company shall provide the Executive with the Severance Benefits; and
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WHEREAS, the payments and benefits set forth in this Agreement are the exclusive payments and benefits to be paid or provided to the Executive in connection with the ending of the Executive’s employment. By entering into this Agreement, the Executive acknowledges and agrees that he is not entitled to any other severance pay, benefits or equity rights including without limitation pursuant to any severance plan, program or arrangement.
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NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:
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1.Ending of Employment; Resignation from Board. The Executive’s employment shall end on the Date of Termination. The Parties acknowledge and agree that the Company has satisfied its obligations under Section 3(e) of the Employment Agreement. The Executive confirms his resignation as of the Date of Termination as a member of the Company’s Board of Directors (the “Board”) and from any other officer and board member positions that the Executive holds with the Company or any of its respective subsidiaries and affiliates and agrees to execute any documents reasonably requested by the Company in order to effectuate such resignations. As of the Date of Termination, the Executive shall have no further employment relationship with the Company or any of its subsidiaries or affiliates. 
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2.Accrued Benefit. The Company shall pay or provide to the Executive (or to the Executive’s authorized representative or estate) (i) any Base Salary earned through the Date of Termination, unpaid expense reimbursements (subject to, and in accordance with, Section 2(c) of the Employment Agreement) and 127.308 hours of accrued but unused vacation through the Date of Termination on or before the time required by law but in no event more than 30 days after the Executive’s Date of Termination; and (ii) any vested benefits the Executive may have under any employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the “Accrued Benefit”). 
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In addition, regardless of whether this Agreement becomes effective, the Executive will be provided with information regarding the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) under separate cover, including payment obligations and information about the American Rescue Plan Act’s (“ARPA’s”) COBRA subsidy provisions. In accordance with and subject to the provisions of ARPA, if the Executive elects and remains eligible for COBRA, the Company will pay both the employer and employee portion of the COBRA premium until the earliest of (i) September 30, 2021, (ii) the date that the Executive becomes eligible for group health care coverage through other employment; or (iii) the end of the Executive’s eligibility under COBRA for continuation coverage for health care coverage. Any COBRA continuation coverage after September 30, 2021 will be at the Executive’s own cost, except as provided in Section 3(b) below.
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The Executive will cease vesting in his equity awards on the Date of Termination. The unvested portion of any equity awards shall terminate as of the Date of Termination, and the vested portion of any equity awards shall be governed by the terms and conditions set forth in the Scholar Rock Holding Corporation’s 2018 Stock Option and Incentive Plan (as amended and/or restated from time to time) and the applicable stock option agreement (together, the “Equity Documents”).
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3.Severance Benefits. In exchange for, among other things, the Executive signing, not revoking and complying with the terms of this Agreement, the Company shall:
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(a)pay the Executive an amount equal to (A) twelve (12) months of the Executive’s Base Salary plus (B) $170,307.12, which is the Executive’s Prorated Incentive Compensation (collectively, the “Severance Amount”); and
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(b)if the Executive was participating in the Company’s group health plan immediately prior to the Date of Termination and elects and remains eligible for COBRA health continuation as of October 1, 2021, then the Company shall, until the earlier of the 12 month anniversary of the Date of Termination or the end of the Executive’s COBRA health continuation period, pay the cost of the monthly employer contribution (either by direct payment to the group health plan provider or the COBRA provider or by reimbursing the Executive for such cost) that the Company would have made to provide health insurance to the Executive if the Executive had remained employed by the Company; provided, however, if the Company determines that it cannot pay such amounts to the group health plan provider or the COBRA provider (if applicable) without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then the Company shall convert such 

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payments to payroll payments directly to the Executive for the time period specified above. Such payments shall be subject to tax-related deductions and withholdings and paid on the Company’s regular payroll dates.
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The amounts payable under this Section 3, to the extent taxable, shall be paid out in substantially equal installments over twelve (12) months in accordance with the Company’s payroll practice commencing on the first practicable payroll date following the Effective Date of this Agreement (as defined below). Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).
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4.General Release. In consideration for, among other terms, the Severance Benefits set forth in Section 3 of this Agreement, to which the Executive acknowledges he would not otherwise be entitled, the Executive irrevocably and unconditionally releases and forever discharges the Company, all of its affiliated and related entities, its and their respective predecessors, successors and assigns, employee benefit plans and the fiduciaries of such plans, and the current and former officers, directors, shareholders, employees, attorneys, accountants, fiduciaries and agents of each of the foregoing in their official and personal capacities (collectively referred to as the “Releasees”) generally from all claims, demands, debts, damages and liabilities of every name and nature, known or unknown, that, as of the date when the Executive signs this Agreement, he has, ever had, now claims to have or ever claimed to have had against any or all of the Releasees (“Claims”). This release includes, without limitation, the complete waiver and release of all Claims: arising in connection with or under the Employment Agreement or any other agreement between the Executive and any of the Releasees; of breach of express or implied contract; of wrongful termination of employment, whether in contract or tort; of intentional, reckless or negligent infliction of emotional distress; of breach of any express or implied covenant of employment, including the covenant of good faith and fair dealing; of interference with contractual or advantageous relations, whether prospective or existing; of deceit or misrepresentation; of discrimination or retaliation under federal, state or local law, including, without limitation, Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., as amended, the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq., the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., and Chapter 151B of the Massachusetts General Laws; under any federal, state, local or foreign statute, rule, ordinance or regulation; of promissory estoppel or detrimental reliance; of violation of public policy; for wages, bonuses, incentive compensation, vacation pay or any other compensation or benefits, whether under the Massachusetts Wage Act, M.G.L. c. 149, §§148- 150C, or otherwise; for fraud, slander, libel, defamation, disparagement, personal injury, negligence, compensatory or punitive damages, or any other Claim for damages or injury of any kind whatsoever; and for monetary recovery, injunctive relief, attorneys’ fees, experts’ fees, medical fees or expenses, costs and disbursements. The Executive understands that this general release of Claims includes, without limitation, any and all Claims related to the Executive’s employment by the Company (including without limitation, any Claims against the Company in respect of any stock-based awards of any kind) and the termination of his employment, and all Claims as a Company stockholder or option holder arising up to and through the date that the Executive signs this Agreement. The Executive understands that this general release does not extend to any rights or claims that may arise out of acts or events that occur after the date on which the Executive signs this Agreement, or to Claims that cannot be released as a matter of law. The Executive represents that he has not assigned to any third party and has not filed with any agency or court any Claim released by this Agreement. This release does not affect the Executive’s rights 

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or obligations under this Agreement, nor shall it affect the Executive’s rights, if any, to indemnification by the Company pursuant to the Company’s organizational documents or the Indemnification Agreement between Scholar Rock Holding Corporation and the Executive dated July 14, 2020 (the “Indemnification Agreement”), or coverage, if any, under applicable directors’ and officers’ insurance policies. 
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5.Return of Property. The Executive is required to immediately return all Company property, including, without limitation, his Company laptop, computer equipment, software, keys and access cards, credit cards, files and any documents (including computerized data and any copies made of any computerized data or software) containing information concerning the Company, its business or its business relationships (“Company Property”). By signing below, the Executive acknowledges that all such Company Property has been returned to the Company. After returning all Company Property, the Executive commits to deleting and finally purging any duplicates of files or documents that may contain Company or customer information from any non-Company computer or other device that remains the Executive’s property after the Date of Termination. The obligations contained in this Section 5 are supplemental to, and not in lieu of, any return of property obligations the Executive has pursuant to the Employee Non-Competition, Non-Solicitation, Confidentiality and Assignment Agreement dated July 14, 2020 (the “Restrictive Covenant Agreement”), a copy of which is attached hereto as Exhibit A. 
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6.Non-Competition.  In order to protect the Company’s Proprietary Information (as defined in the Restrictive Covenant Agreement) and good will, and in connection with the Executive’s separation from employment, for a period of one (1) year following the Date of Termination (the “Restricted Period”), the Executive will not directly or indirectly, anywhere in the world, whether as owner, partner, shareholder, director, manager, consultant, agent, employee, co-venturer, or otherwise, engage in, participate in, or perform: (a) any job, position, function, role, or activity that (i) is the same as or similar to that which the Executive performed for the Company during any part of the two-year period immediately preceding the Date of Termination and (ii) involves products, services, or a line of business (in each case, including but not limited to the research, development, manufacture, or commercialization of any products, services, or line of business) that is competitive with or that substitutes for or that eliminates the need for, any products, services, or a line of business (in each case, including but not limited to the research, development, manufacture, or commercialization of any products, services, or a line of business) of the Company at any time during the two-year period immediately preceding the Date of Termination; or (b) any other job, position, function, role, or activity that would likely or inevitably, even if unintentionally, require or result in the use or disclosure of the Company’s Proprietary Information or the use of the Company’s customer goodwill, provided that this shall not prohibit any possible investment in publicly traded stock of a company representing less than one percent of the stock of such company. The Executive acknowledges that the covenants in this Section 6 are necessary because the Company’s legitimate business interests cannot be adequately protected solely by the other covenants in this Agreement. The Executive acknowledges and agrees that this Section 6 applies in lieu of, and fully supersedes, the non-competition provision in Section 8(A) of the Restrictive Covenant Agreement, and the Executive shall not be entitled to any payments pursuant to Section 8(A) of the Restrictive Covenant Agreement. For the avoidance of doubt, the remainder of the Restrictive Covenant Agreement remains in full force and effect and is incorporated by reference herein.
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7.Communications. The Executive agrees that he will not communicate about his departure with anyone until after the Company has made a formal written announcement about the Executive’s departure through an email communication (the “Company Announcement”); provided that the Executive may communicate with his tax advisors, attorneys, and spouse about his departure before the Company Announcement, provided further that the Executive first advises such persons not to reveal information about the Executive’s departure and each such person agrees. Once the Company has made the Company Announcement, the Executive agrees to limit any communications regarding his departure to statements consistent with the Company Announcement.
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8.Non-Disparagement. Subject to Section 13 of this Agreement, the Executive agrees not to take any action or make any statements (whether written, oral, through social or electronic media or otherwise) that are disparaging about or adverse to the business interests of the Company or any of the Releasees. The Executive further agrees not to take any actions or conduct himself in any way that would reasonably be expected to affect adversely the reputation or goodwill of the Company or any of the Releasees.  
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9.Transitioning Duties.  The Executive agrees to be reasonably available to answer questions related to transitioning his duties following the Date of Termination and through the end of the period in which he receives the Severance Amount. The Company will not utilize this Section 9 to unreasonably interfere with the Executive’s search for employment or with any subsequent employment.
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10.Cooperation.  The Executive shall cooperate fully with any reasonable request of the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Executive was employed by the Company. The Executive’s full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually convenient times. During and after the Executive’s employment, the Executive also shall cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company. The Company shall reimburse the Executive for any reasonable out-of-pocket expenses incurred in connection with the Executive’s performance of obligations pursuant to this Section 10.
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11.Continuing Obligations; Termination of Payments; Injunctive Relief. The Executive acknowledges that his right to the Severance Benefits is conditioned on his full compliance with Sections 5 through 10 of this Agreement and the provisions of the Restrictive Covenant Agreement (collectively, the “Continuing Obligations”); provided, however, and for the avoidance of doubt, that the post-employment non-competition provision in Section 8(A) of the Restrictive Covenant Agreement shall not apply and is superseded by Section 6 of this Agreement. In the event that (i) the Executive fails to comply with any of the Continuing Obligations, or (ii) the Board learns new information after the Date of Termination and determines that the Executive’s employment could have been terminated for Cause under the Employment Agreement, then in addition to any other legal or equitable remedies it may have for such breach, the Company shall have the right to terminate the Severance Benefits and/or to seek repayment of any previously paid Severance 

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Benefits. Such termination in the event of a breach by the Executive shall not affect the general release in Section 4 of this Agreement or the Executive’s obligation to comply with the Continuing Obligations. Further, the Executive agrees that it would be difficult to measure any harm caused to the Company that might result from any breach by the Executive of any of the Continuing Obligations and that, in any event, money damages would be an inadequate remedy for any such breach. Accordingly, the Executive agrees that if he breaches, or proposes to breach, any portion of the Continuing Obligations, the Company shall be entitled, in addition to all other remedies it may have, to an injunction or other appropriate equitable relief to restrain any such breach, without showing or proving any actual damage to the Company and without the necessity of posting a bond, and to recover the Company’s attorneys’ fees and costs associated with any such breach by the Executive.  
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12.Advice of Counsel. This Agreement is a legally binding document and the Executive’s signature will commit the Executive to its terms. The Executive acknowledges that he has been advised to discuss all aspects of this Agreement with his attorney, that he has carefully read and fully understands all of the provisions of this Agreement and that he is voluntarily entering into this Agreement. In signing this Agreement, the Executive is not relying upon any promises or representations made by anyone at or on behalf of the Company.  
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13.Protected Disclosures. Nothing in this Agreement or otherwise limits the Executive’s  (i) obligation to testify truthfully in any legal proceeding; (ii) right to file a charge or complaint with any federal agency or any state or local governmental agency or commission (together, a “Government Agency”); or (iii) ability to communicate with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency. If the Executive files any charge or complaint with any Government Agency and if the Government Agency pursues any claim on the Executive’s behalf, or if any other third party pursues any claim on the Executive’s behalf, the Executive waives any right to monetary or other individualized relief (either individually or as part of any collective or class action); provided that nothing in this Agreement limits any right the Executive may have to receive a whistleblower award or bounty for information provided to the Securities and Exchange Commission.
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14.Time for Consideration; Effective Date. The Executive acknowledges that he has been given the opportunity to consider this Agreement for twenty-one (21) days from his receipt of this Agreement before signing it (the “Consideration Period”). To accept this Agreement, the Executive must return a signed, unmodified original or PDF copy of this Agreement so that it is received by the undersigned on or before the expiration of the Consideration Period. If the Executive signs this Agreement prior to the end of the Consideration Period, the Executive acknowledges by signing this Agreement that such decision was entirely voluntary and that he had the opportunity to consider this Agreement for the entire Consideration Period. The Executive and the Company agree that any changes or modifications to this Agreement shall not restart the Consideration Period. For a period of seven (7) business days from the date of his execution of this Agreement, the Executive shall retain the right to revoke this Agreement by written notice that must be received by the undersigned before the end of such revocation period. This Agreement shall become effective on the business day immediately following the expiration of the revocation period (the “Effective Date”), provided that the Executive does not revoke this Agreement during the revocation period. Notwithstanding the foregoing, the Company may withdraw the offer of this Agreement or may void this Agreement before the Effective Date if the Executive breaches any 

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provision contained in this Agreement (including any provision of the Restrictive Covenant Agreement).  
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15.Enforceability. The Executive acknowledges that, if any portion or provision of this Agreement or the Restrictive Covenant Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision shall be valid and enforceable to the fullest extent permitted by law.  
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16.Entire Agreement. This Agreement, together with the Restrictive Covenant Agreement, constitutes the entire agreement between the Executive and the Company concerning the Executive’s employment with the Company, and supersedes and replaces any and all prior agreements and understandings between the Parties concerning the Executive’s employment with the Company including, without limitation, the Employment Agreement, provided that the Equity Documents shall continue to be in full force and effect in accordance with their terms. For the avoidance of doubt, the Indemnification Agreement shall continue to be in full force and effect in accordance with its terms.
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17.Waiver; Amendment. No waiver of any provision of this Agreement, including the Continuing Obligations, shall be effective unless made in writing and signed by the waiving party. The failure of the Company to require the performance of any term or obligation of this Agreement or the Continuing Obligations, or the waiver by the Company of any breach of this Agreement or the Continuing Obligations shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. This Agreement may not be modified or amended except in a writing signed by both the Executive and a member of the Board.
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18.Taxes. The Company shall undertake to make deductions, withholdings and tax reports with respect to payments and benefits under this Agreement and in connection with other compensation matters to the extent that it reasonably and in good faith determines that it is required to make such deductions, withholdings and tax reports. Payments under this Agreement shall be in amounts net of any such deductions or withholdings.  Nothing in this Agreement shall be construed to require the Company to make any payments to compensate the Executive for any adverse tax effect associated with any payments or benefits made to the Executive in connection with the Executive’s employment with the Company.
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19.Acknowledgment of Wage and Other Payments. The Executive acknowledges and represents that, except as expressly provided in this Agreement, the Executive has been paid all wages, bonuses, compensation, benefits and other amounts that any of the Releasees has ever owed to the Executive. The Executive is not entitled to any other compensation or benefits from the Company related to his employment following the Date of Termination except as specifically set forth in this Agreement.
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20.Arbitration of Disputes.  The Company and the Executive agree that the “Arbitration of Disputes” provision in Section 8 of the Employment Agreement shall continue to apply, the terms of which are incorporated by reference into this Agreement. For the avoidance of doubt, Section 8 of the Employment Agreement shall not preclude either party from pursuing a court action for the sole purpose of obtaining a temporary restraining order or a preliminary injunction in 

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circumstances in which such relief is appropriate, including, without limitation, to enforce the Continuing Obligations; provided that any other relief shall be pursued through an arbitration proceeding pursuant to Section 8 of the Employment Agreement.
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21.Consent to Jurisdiction. To the extent that any court action is permitted consistent with or to enforce Section 8 of the Employment Agreement, the Parties hereby consent to the jurisdiction of the Superior Court of the Commonwealth of Massachusetts and the United States District Court for the District of Massachusetts. Accordingly, with respect to any such court action, the Executive (a) submits to the personal jurisdiction of such courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process.
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22.Governing Law; Interpretation. This is a Massachusetts contract and shall be construed under and be governed in all respects by the laws of the Commonwealth of Massachusetts without giving effect to the conflict of laws principles thereof. In the event of any dispute, this Agreement is intended by the Parties to be construed as a whole, to be interpreted in accordance with its fair meaning, and not to be construed strictly for or against either Party or the “drafter” of all or any portion of this Agreement.
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23.Assignment; Successors and Assigns.  Neither the Executive nor the Company may make any assignment of this Agreement or any interest in it, by operation of law or otherwise, without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under this Agreement (including the Restrictive Covenant Agreement) without the Executive’s consent to any affiliate or to any person or entity with whom the Company shall hereafter effect a reorganization or consolidation, into which the Company merges or to whom it transfers all or substantially all of its properties or assets. This Agreement shall inure to the benefit of and be binding upon the Executive and the Company, and each of the Executive’s and the Company’s respective successors, executors, administrators, heirs and permitted assigns. In the event of the Executive’s death after the Date of Termination but prior to the completion by the Company of all payments due to the Executive under this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to the Executive’s death (or to the Executive’s estate, if the Executive fails to make such designation).
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24.Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document.
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IN WITNESS WHEREOF, the Parties, intending to be legally bound, have executed this Agreement on the date(s) indicated below.
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SCHOLAR ROCK, INC.
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By:/s/ David Hallal​ ​
Name: David Hallal
Title:  Chairman of the Board
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Date:  8/4/2021​ ​
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EXECUTIVE
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/s/ Stuart A. Kingsley​ ​
Stuart A. Kingsley
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Date:  8/4/2021​ ​
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EXHIBIT A
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Restrictive Covenant Agreement
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Employee Non-Competition, Non-Solicitation,
Confidentiality and Assignment Agreement
 
  
SCHOLAR ROCK, INC.
 
Employee Non-Competition, Non-Solicitation, Confidentiality and Assignment Agreement
 
In consideration and as a condition of my employment, continued employment by or other service relationship with Scholar Rock, Inc. (the “Company”), I agree to the terms and conditions of this Employee Non-Competition, Non-Solicitation, Confidentiality and Assignment Agreement (the “Agreement”). For purposes of this Agreement, references to the employment relationship shall mean any employment, co-employment, independent contractor or other service relationship, whether directly or through a third party, that I may have with the Company.
 
1.            Proprietary Information. I agree that all information, whether or not in writing, concerning the Company’s business, technology, business relationships or financial affairs which the Company has not released to the general public (collectively, “Proprietary Information”) is and will be the exclusive property of the Company. By way of illustration, Proprietary Information may include information or material which has not been made generally available to the public, such as: (a) corporate information, including plans, strategies, methods, policies, resolutions, negotiations or litigation; (b) marketing information, including strategies, methods, customer identities or other information about customers, prospect identities or other information about prospects, or market analyses or projections; (c) financial information, including cost and performance data, debt arrangements, equity structure, investors and holdings, purchasing and sales data and price lists; and (d) operational and technological information, including plans, specifications, manuals, forms, templates, pre-clinical and clinical testing data and strategies, software, designs, methods, procedures, formulas, discoveries, inventions, improvements, concepts and ideas; and (e) personnel information, including personnel lists, reporting or organizational structure, resumes, personnel data, compensation structure, performance evaluations and termination arrangements or documents. Proprietary Information also includes information received in confidence by the Company from its customers or suppliers or other third parties.
 
2.             Recognition of Company’s Rights. I will not, at any time, without the Company’s prior written permission, either during or after my employment, disclose any Proprietary Information to anyone outside of the Company, or use or permit to be used any Proprietary Information for any purpose other than the performance of my duties as an employee of the Company. I will cooperate with the Company and use my best efforts to prevent the unauthorized disclosure of all Proprietary Information. I will deliver to the Company all copies of Proprietary Information in my possession or control upon the earlier of a request by the Company or termination of my employment.
 
3.             Rights of Others. I understand that the Company is now and may hereafter be subject to non-disclosure or confidentiality agreements with third parties which require the Company to protect or refrain from unauthorized use of proprietary information. I agree to be bound by the terms of such 

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agreements in the event I have access to such proprietary information.
 
4.             Commitment to Company; Avoidance of Conflict of Interest. While an employee of the Company, I will devote my full-time efforts to the Company’s business and I will not engage in any other business activity that conflicts with my duties to the Company. I will advise the president of the Company or his or her nominee at such time as any activity of either the Company or another business presents me with a conflict of interest or the appearance of a conflict of interest as an employee of the Company. I will take whatever action is requested of me by the Company to resolve any conflict or appearance of conflict which it finds to exist.
 
5.             Developments. I will make full and prompt disclosure to the Company of all inventions, discoveries, designs, developments, methods, modifications, improvements, processes, algorithms, databases, computer programs, formulae, techniques, trade secrets, graphics or images, and audio or visual works and other works of authorship (collectively “Developments”), whether or not patentable or copyrightable, that are created, made, conceived or reduced to practice by me (alone or jointly with others) or under my direction during the period of my employment. I acknowledge that all work performed by me is on a “work for hire” basis, and I hereby do assign and transfer and, to the extent any such assignment cannot be made at present, will assign and transfer, to the Company and its successors and assigns all my right, title and interest in all Developments that (a) relate to the business of the Company or any of the products or services being researched, developed, manufactured or sold by the Company or which may be used with such products or services; or (b) result from tasks assigned to me by the Company; or (c) result from the use of premises, resources, proprietary information or know-how, or personal property (whether tangible or intangible) owned, leased or contracted for by the Company (“Company-Related Developments”), and all related patents, patent applications, trademarks and trademark applications, copyrights and copyright applications, and other intellectual property rights in all countries and territories worldwide and under any international conventions (“Intellectual Property Rights”).
 
 To preclude any possible uncertainty, I have set forth on Exhibit A attached hereto a complete list of Developments that I have, alone or jointly with others, conceived, developed or reduced to practice prior to the commencement of my employment with the Company that I consider to be my property or the property of third parties and that I wish to have excluded from the scope of this Agreement (“Prior Inventions”). If disclosure of any such Prior Invention would cause me to violate any prior confidentiality agreement, I understand that I am not to list such Prior Inventions in Exhibit A but am only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it belongs and the fact that full disclosure as to such inventions has not been made for that reason. I have also listed on Exhibit A all patents and patent applications in which I am named as an inventor, other than those which have been assigned to the Company (“Other Patent Rights”). If no such disclosure is attached, I represent that there are no Prior Inventions or Other Patent Rights. If, in the course of my employment with the Company, I incorporate a Prior Invention into a Company product, process or machine or other work done for the Company, I hereby grant to the Company a nonexclusive, royalty-free, paid-up, irrevocable, worldwide license (with the full right to sublicense) to make, have made, modify, use, sell, offer for sale and import such Prior Invention. Notwithstanding the foregoing, I will not incorporate, or permit to be incorporated, Prior Inventions in any Company-Related Development without the Company’s prior written consent.
 This Agreement does not obligate me to assign to the Company any Development which, in the sole 

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judgment of the Company, reasonably exercised, is developed entirely on my own time and does not relate to the business efforts or research and development efforts in which, during the period of my employment, the Company actually is engaged or reasonably would be engaged, and does not result from the use of premises, resources, proprietary information, know-how or equipment owned or leased by the Company. However, I will also promptly disclose to the Company any such Developments for the purpose of determining whether they qualify for such exclusion. I understand that to the extent this Agreement is required to be construed in accordance with the laws of any state which precludes a requirement in an employee agreement to assign certain classes of inventions made by an employee, this paragraph 5 will be interpreted not to apply to any invention which a court rules and/or the Company agrees falls within such classes. I also hereby waive all claims to any moral rights or other special rights which I may have or accrue in any Company-Related Developments.
 
6.            Documents and Other Materials. I will keep and maintain adequate and current records of all Proprietary Information and Company-Related Developments developed by me during my employment, which records will be available to and remain the sole property of the Company at all times.
 
All files, letters, notes, memoranda, reports, records, data, sketches, drawings, notebooks, layouts, charts, quotations and proposals, specification sheets, or other written, photographic or other tangible material containing Proprietary Information, whether created by me or others, which come into my custody or possession, are the exclusive property of the Company to be used by me only in the performance of my duties for the Company. Any property situated on the Company’s premises and owned by the Company, including without limitation computers, disks and other storage media, filing cabinets or other work areas, is subject to inspection by the Company at any time with or without notice. In the event of the termination of my employment for any reason, I will deliver to the Company all files, letters, notes, memoranda, reports, records, data, sketches, drawings, notebooks, layouts, charts, quotations and proposals, specification sheets, or other written, photographic or other tangible material containing Proprietary Information, and other materials of any nature pertaining to the Proprietary Information of the Company and to my work, and will not take or keep in my possession any of the foregoing or any copies.
 
7.             Enforcement of Intellectual Property Rights. I will cooperate fully with the Company, both during and after my employment with the Company, with respect to the procurement, maintenance and enforcement of Intellectual Property Rights in Company-Related Developments. I will sign, both during and after the term of this Agreement, all papers, including without limitation copyright applications, patent applications, declarations, oaths, assignments of priority rights, and powers of attorney, which the Company may deem necessary or desirable in order to protect its rights and interests in any Company-Related Development. If the Company is unable, after reasonable effort, to secure my signature on any such papers, I hereby grant a power of attorney by designating and appointing each officer of the Company as my agent and attorney-in-fact to execute any such papers on my behalf, and to take any and all actions as the Company may deem necessary or desirable in order to protect its rights and interests in any Company-Related Development.
 
8.             Restrictive Covenants.
 
		A.
	Non-Competition Restrictive Covenants

 
In order to protect the Company’s Proprietary Information and good will, during my employment 

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and for a period of one (1) year following the termination of my employment for any reason, unless the Company terminates my employment without Cause or lays me off, or such shorter period as the Company designates in writing to me in connection with the ending of my employment relationship (the “Restricted Period”), I will not directly or indirectly, anywhere in the United States, whether as owner, partner, shareholder, director, manager, consultant, agent, employee, co-venturer, or otherwise, engage in, participate in, or perform: (a) any job, position, function, role, or activity that (i) is the same as or similar to that which I performed for the Company during any part of the two-year period immediately preceding the end of my employment with the Company and (ii) involves products, services, or a line of business (in each case, including but not limited to the research, development, manufacture, or commercialization of any products, services, or line of business) that is competitive with or that substitutes for or that eliminates the need for, any products, services, or a line of business (in each case, including but not limited to the research, development, manufacture, or commercialization of any products, services, or a line of business) of the Company at any time during the two-year period immediately preceding the end of my employment with the Company; or (b) any other job, position, function, role, or activity that would likely or inevitably, even if unintentionally, require or result in the use or disclosure of the Company’s Proprietary Information or the use of the Company’s customer goodwill, provided that this shall not prohibit any possible investment in publicly traded stock of a company representing less than one percent of the stock of such company. Furthermore, I acknowledge and agree that the Company shall have the option of enforcing the aforementioned non-competition restriction, up to and including the full duration of the Restricted Period. In the event the Company elects to enforce said non-competition restriction, the Company will cause to be paid to me fifty percent (50%) of my highest annualized base salary paid by the Company within the two (2) years preceding the termination of my employment, for as long as the Company elects to enforce said non-competition restriction, subject further to limitations on payments owed to an employee who has breached a fiduciary duty owed to the Company or who has unlawfully taken Company property to the extent permitted by applicable law. I acknowledge and agree that any payments I receive pursuant to this paragraph 8(a) shall reduce (and shall not be in addition to) any severance or separation pay that I am otherwise entitled to receive from the Company pursuant to an agreement, plan or otherwise.
 
		B.
	Non-Solicitation Restrictive Covenants

 
In order to protect the Company’s Proprietary Information and good will, during the Restricted Period, I will not, directly or indirectly, in any manner, other than for the benefit of the Company, (a) call upon, solicit, divert, take away, accept or conduct any business from or with any of the customers or prospective customers of the Company or any of its suppliers, and/or (b) solicit, entice, attempt to persuade any other employee or consultant of the Company to leave the Company for any reason or otherwise participate in or facilitate the hire, directly or through another entity, of any person who is employed or engaged by the Company or who was employed or engaged by the Company within six months of any attempt to hire such person.
 
I acknowledge that this covenants in this paragraph 8 are necessary because the Company’s legitimate business interests cannot be adequately protected solely by the other covenants in this Agreement. I further acknowledge and agree that if I violate any of the provisions of this paragraph 8, the running of the Restricted Period will be extended by the time during which I engage in such violation(s).
​
 

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9.             Government Contracts. I acknowledge that the Company may have from time to time agreements with other persons or with the United States Government or its agencies which impose obligations or restrictions on the Company regarding inventions made during the course of work under such agreements or regarding the confidential nature of such work. I agree to comply with any such obligations or restrictions upon the direction of the Company. In addition to the rights assigned under paragraph 5, I also assign to the Company (or any of its nominees) all rights which I have or acquired in any Developments, full title to which is required to be in the United States under any contract between the Company and the United States or any of its agencies.
 
10.           Prior Agreements. I hereby represent that, except as I have fully disclosed previously in writing to the Company, I am not bound by the terms of any agreement with any previous employer or other party to refrain from using or disclosing any trade secret or confidential or proprietary information in the course of my employment with the Company or to refrain from competing, directly or indirectly, with the business of such previous employer or any other party. I further represent that my performance of all the terms of this Agreement as an employee of the Company does not and will not breach any agreement to keep in confidence proprietary information, knowledge or data acquired by me in confidence or in trust prior to my employment with the Company. I will not disclose to the Company or induce the Company to use any confidential or proprietary information, know-how or material belonging to any previous employer or others.
 
11.           Remedies Upon Breach. I understand that the restrictions contained in this Agreement are necessary for the protection of the business and goodwill of the Company and I consider them to be reasonable for such purpose. Any breach of this Agreement is likely to cause the Company substantial and irrevocable damage and therefore, in the event of such breach, the Company, in addition to such other remedies which may be available, will be entitled to specific performance and other injunctive relief, without the posting of a bond. In the event of any litigation concerning this Agreement, the Company and I agree that the prevailing party shall be entitled to costs relating to such litigation, including reasonable attorneys’ fees and expenses.
 
12.           Publications and Public Statements. I will obtain the Company’s written approval before publishing or submitting for publication any material that relates to and/or incorporates any Proprietary Information.
 
13.          No Employment Obligation. I understand that this Agreement does not create an obligation on the Company or any other person to continue my employment. I acknowledge that, unless otherwise agreed in a formal written employment agreement signed on behalf of the Company by an authorized officer, my employment with the Company is at will and therefore may be terminated by the Company or me at any time and for any reason, with or without cause.
 
14.           Survival and Assignment by the Company. I understand that my obligations under this Agreement will continue in accordance with its express terms regardless of any changes in my title, position, duties, salary, compensation or benefits or other terms and conditions of employment. I further understand that my obligations under this Agreement will continue following the termination of my employment regardless of the manner of such termination and will be binding upon my heirs, executors and administrators. The Company will have the right to assign this Agreement to its affiliates, successors and assigns. I expressly consent to be bound by the provisions of this Agreement for the benefit of the Company or any parent, subsidiary or affiliate to whose employ I may be transferred without the necessity that this Agreement be resigned at the time of such transfer.

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15.           Exit Interview. If and when I depart from the Company, I may be required to attend an exit interview. For twelve (12) months following termination of my employment, I will notify the Company of any change in my address and of each subsequent employment or business activity, including the name and address of my employer or other post-Company employment plans and the nature of my activities. If I am named an inventor in one or more patent applications that resulted during my employment with the Company, I agree to use commercially reasonable efforts to keep the Company apprised of my contact information for an additional twenty-four (24) months.
 
16.          Disclosure to Future Employers. During the Restricted Period, I will provide a copy of this Agreement to any prospective employer, partner or co-venturer prior to entering into an employment, partnership or other business relationship with such person or entity.
 
17.           Severability. In case any provisions (or portions thereof) contained in this Agreement shall, for any reason, be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. If, moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law as it shall then appear.
 
18.          Interpretation. This Agreement will be deemed to be made and entered into in the Commonwealth of Massachusetts, and will in all respects be interpreted, enforced and governed under the laws of the Commonwealth of Massachusetts. I hereby agree to consent to personal jurisdiction of the state and federal courts situated within Suffolk County, Massachusetts for purposes of enforcing this Agreement, and waive any objection that I might have to personal jurisdiction or venue in those courts.
 
I UNDERSTAND THAT THIS AGREEMENT AFFECTS IMPORTANT RIGHTS. BY SIGNING BELOW, I CERTIFY THAT I HAVE READ IT CAREFULLY AND AM SATISFIED THAT I UNDERSTAND IT COMPLETELY. I ACKNOWLEDGE I HAVE BEEN NOTIFIED BY THE COMPANY OF THE RIGHT TO CONSULT WITH COUNSEL OF MY OWN CHOOSING PRIOR TO SIGNING THIS AGREEMENT, AND THAT I WAS GIVEN A COPY OF THIS AGREEMENT BY THE EARLIER OF (i) RECEIPT OF A FORMAL OFFER OF EMPLOYMENT, OR (ii) NOT LESS THAN 10 BUSINESS DAYS BEFORE THE COMMENCEMENT OF EMPLOYMENT.
 
I ACKNOWLEDGE AND AGREE THAT THE TERMS OF THIS AGREEMENT WILL APPLY TO MY ENTIRE SERVICE RELATIONSHIP WITH THE COMPANY, INCLUDING WITHOUT LIMITATION ANY PERIOD OF SERVICE PRIOR TO THE DATE OF MY SIGNATURE BELOW.
 
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IN WITNESS WHEREOF, the undersigned has executed this agreement as a sealed instrument as of the date set forth below.
 
	Signed:
	/s/ Stuart A. Kingsley
	 

	 
	 
	(Employee’s full name)
	 

	 
	 
	 
	 

 
	Type or print name:
	Stuart A. Kingsley
	 

 
	Date:
	July 14, 2020
	 

 
Scholar Rock, Inc.
 
/s/ David Hallal
 
Authorized Signatory
 
Date: 7/14/2020
 
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EXHIBIT A
 
To: Scholar Rock, Inc.
 
From: Stuart A. Kingsley
 
Date: July 14, 2020
 
SUBJECT:              Prior Inventions
 
The following is a complete list of all inventions or improvements relevant to the subject matter of my employment by the Company that have been made or conceived or first reduced to practice by me alone or jointly with others prior to my engagement by the Company:
 
x           No inventions or improvements
 
 ̈            See below:
 
_______________________________________________________________
 
_______________________________________________________________
 
_______________________________________________________________
 
 ̈            Additional sheets attached
 
The following is a list of all patents and patent applications in which I have been named as an inventor:
 
x           None
 
 ̈            See below:
 
_______________________________________________________________
 
_______________________________________________________________
 
_______________________________________________________________

17
​EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
  

AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT 

among 
 COMPASS CONCIERGE SPV
I, LLC, 
 as Borrower, 

COMPASS CONCIERGE, LLC, 
 as
Seller, 
 BARCLAYS BANK PLC, 

as Administrative Agent 
 and 

THE LENDERS FROM TIME TO TIME PARTY HERETO, 

Dated as of July 29, 2021 
  

 
  

 

							
	Table of Contents	 
			
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS; RULES OF CONSTRUCTION; COMPUTATIONS
	  	 	1	 
			
	 Section 1.01
	 	Definitions	  	 	1	 
			
	 Section 1.02
	 	Rules of Construction	  	 	1	 
			
	 Section 1.03
	 	Computation of Time Periods	  	 	2	 
			
	 Section 1.04
	 	Collateral Value Calculation Procedures	  	 	2	 
		
	 ARTICLE II ADVANCES
	  	 	3	 
			
	 Section 2.01
	 	Revolving Credit Facility	  	 	3	 
			
	 Section 2.02
	 	Making of the Advances	  	 	3	 
			
	 Section 2.03
	 	Evidence of Indebtedness	  	 	5	 
			
	 Section 2.04
	 	Payment of Principal and Interest	  	 	5	 
			
	 Section 2.05
	 	Prepayment of Advances	  	 	6	 
			
	 Section 2.06
	 	Changes of Commitments	  	 	7	 
			
	 Section 2.07
	 	Maximum Lawful Rate	  	 	7	 
			
	 Section 2.08
	 	Several Obligations	  	 	8	 
			
	 Section 2.09
	 	Increased Costs	  	 	8	 
			
	 Section 2.10
	 	Rescission or Return of Payment	  	 	10	 
			
	 Section 2.11
	 	Post-Default Interest	  	 	10	 
			
	 Section 2.12
	 	Payments Generally	  	 	10	 
			
	 Section 2.13
	 	Extension of the Scheduled Revolving Period Termination Date	  	 	11	 
			
	 Section 2.14
	 	Replacement of Lenders	  	 	11	 
			
	 Section 2.15
	 	Defaulting Lenders	  	 	12	 
			
	 Section 2.16
	 	Interest Rates; LIBOR Notification	  	 	14	 
			
	 Section 2.17
	 	Alternate Rate of Interest	  	 	14	 
		
	 ARTICLE III CONDITIONS PRECEDENT
	  	 	16	 
			
	 Section 3.01
	 	Conditions Precedent to Initial Advance	  	 	16	 
			
	 Section 3.02
	 	Conditions Precedent to Each Borrowing	  	 	17	 

  
 i 

							
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	 	19	 
			
	 Section 4.01
	 	Representations and Warranties	  	 	19	 
		
	 ARTICLE V COVENANTS
	  	 	25	 
			
	 Section 5.01
	 	Affirmative Covenants	  	 	25	 
			
	 Section 5.02
	 	Negative Covenants	  	 	30	 
			
	 Section 5.03
	 	Certain Undertakings Relating to Separateness	  	 	33	 
		
	 ARTICLE VI EVENTS OF DEFAULT
	  	 	35	 
			
	 Section 6.01
	 	Events of Default	  	 	35	 
			
	 Section 6.02
	 	Remedies upon an Event of Default	  	 	37	 
			
	 Section 6.03
	 	Servicer Events of Default	  	 	38	 
		
	 ARTICLE VII PLEDGE OF COLLATERAL; RIGHTS OF THE ADMINISTRATIVE AGENT
	  	 	38	 
			
	 Section 7.01
	 	Grant of Security	  	 	38	 
			
	 Section 7.02
	 	Release of Security Interest	  	 	39	 
			
	 Section 7.03
	 	Rights and Remedies	  	 	39	 
			
	 Section 7.04
	 	Remedies Cumulative	  	 	40	 
			
	 Section 7.05
	 	Related Documents	  	 	40	 
			
	 Section 7.06
	 	Borrower Remains Liable	  	 	41	 
			
	 Section 7.07
	 	Protection of Collateral	  	 	41	 
		
	 ARTICLE VIII ACCOUNTS, ACCOUNTINGS AND RELEASES
	  	 	42	 
			
	 Section 8.01
	 	Collection of Money	  	 	42	 
			
	 Section 8.02
	 	Collection Account	  	 	42	 
			
	 Section 8.03
	 	The Reserve Account; Fundings	  	 	42	 
			
	 Section 8.04
	 	Accountings	  	 	43	 
			
	 Section 8.05
	 	Sale and Release of Facility Receivables	  	 	44	 
			
	 Section 8.06
	 	Borrower Account Details	  	 	45	 
		
	 ARTICLE IX APPLICATION OF MONIES
	  	 	45	 
			
	 Section 9.01
	 	Disbursements of Monies	  	 	45	 
		
	 ARTICLE X THE ADMINISTRATIVE AGENT
	  	 	47	 
			
	 Section 10.01
	 	Authorization and Action	  	 	47	 
			
	 Section 10.02
	 	Delegation of Duties	  	 	48	 
			
	 Section 10.03
	 	Agent’s Reliance, Etc	  	 	48	 
			
	 Section 10.04
	 	Indemnification	  	 	49	 
			
	 Section 10.05
	 	Successor Administrative Agent	  	 	50	 
			
	 Section 10.06
	 	Administrative Agent’s Capacity as a Lender	  	 	50	 

  
 ii 

							
	 ARTICLE XI MISCELLANEOUS
	  	 	50	 
			
	 Section 11.01
	 	No Waiver; Modifications in Writing	  	 	50	 
			
	 Section 11.02
	 	Notices, Etc	  	 	51	 
			
	 Section 11.03
	 	Taxes	  	 	52	 
			
	 Section 11.04
	 	Costs and Expenses; Indemnification	  	 	56	 
			
	 Section 11.05
	 	Execution in Counterparts	  	 	59	 
			
	 Section 11.06
	 	Assignability	  	 	59	 
			
	 Section 11.07
	 	Governing Law	  	 	61	 
			
	 Section 11.08
	 	Severability of Provisions	  	 	61	 
			
	 Section 11.09
	 	Confidentiality	  	 	61	 
			
	 Section 11.10
	 	Merger	  	 	62	 
			
	 Section 11.11
	 	Survival	  	 	63	 
			
	 Section 11.12
	 	Submission to Jurisdiction; Waivers; Etc	  	 	63	 
			
	 Section 11.13
	 	Waiver of Jury Trial	  	 	63	 
			
	 Section 11.14
	 	Service of Process	  	 	63	 
			
	 Section 11.15
	 	Waiver of Setoff	  	 	64	 
			
	 Section 11.16
	 	PATRIOT Act Notice	  	 	64	 
			
	 Section 11.17
	 	[Reserved]	  	 	64	 
			
	 Section 11.18
	 	Non-Petition	  	 	64	 
			
	 Section 11.19
	 	Third Party Beneficiary	  	 	64	 
			
	 Section 11.20
	 	No Fiduciary Duty	  	 	65	 
			
	 Section 11.21
	 	Excess Funds	  	 	65	 
			
	 Section 11.22
	 	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	  	 	65	 
			
	 Section 11.23
	 	Risk Retention	  	 	66	 
			
	 Section 11.24
	 	Amendment and Restatement	  	 	67	 

  
 iii 

 SCHEDULES 
  

			
	Schedule 1	  	Commitments and Percentages
	Schedule 2	  	[Reserved]
	Schedule 3	  	Notice Information
	Schedule 4	  	Borrower Account Details
	
	APPENDIX A
		
	Appendix A	  	Definitions
	
	EXHIBITS
		
	Exhibit A	  	Form of Request for Advance (with attached form of Borrowing Base Certificate)
	Exhibit B	  	Form of Notice of Prepayment
	Exhibit C	  	Form of Assignment and Acceptance
	Exhibit D	  	Concierge Capital Underwriting Policy
	Exhibit E-1 -4	  	Forms of U.S. Tax Compliance Certificates
	Exhibit F	  	Form of [Closing Date] [Amendment Effective Date] Certificate
	Exhibit G	  	Form of Solvency Certificate

  
 iv 

 AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT (as amended, restated,
supplemented or otherwise modified from time to time, this “Agreement”), dated as of July 29, 2021 (the “Amendment Effective Date”), among Compass Concierge SPV I, LLC, as Borrower (the
“Borrower”), Compass Concierge, LLC, as Seller (the “Seller”), Barclays Bank PLC, as Administrative Agent (in such capacity, together with its successors and assigns, the “Administrative Agent”),
and each of the Lenders from time to time party hereto. 
 RECITALS 

WHEREAS, the Borrower desires that the Lenders make advances on a revolving basis to the Borrower on the terms and subject to the
conditions set forth in this Agreement (the “Facility”); 
 WHEREAS, each Lender is willing to make such advances to
the Borrower on the terms and subject to the conditions set forth in this Agreement; and 
 WHEREAS, the Borrower, the Seller, the
Administrative Agent and Barclays Bank PLC as Lender have entered into that certain Revolving Credit and Security Agreement, dated as of July 31, 2020 (as amended by Amendment No. 1 to the Revolving Credit and Security Agreement, dated as
of June 1, 2021, the “Existing Agreement”), and the parties hereto desire to amend and restate the Existing Agreement in its entirety hereby; and 

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

 ARTICLE I 

DEFINITIONS; RULES OF CONSTRUCTION; COMPUTATIONS 

Section 1.01 Definitions. Capitalized terms that are not otherwise defined herein shall have the meanings assigned to them in
Appendix A to this Agreement. 
 Section 1.02 Rules of Construction. For all purposes of this Agreement, except as
otherwise expressly provided or unless the context otherwise requires (i) singular words shall connote the plural as well as the singular, and vice versa (except as indicated), as may be appropriate, (ii) the words “herein,”
“hereof” and “hereunder” and other words of similar import used in this Agreement refer to this Agreement as a whole and not to any particular article, schedule, section, paragraph, clause, exhibit or other subdivision,
(iii) the headings, subheadings and table of contents set forth in this Agreement are solely for convenience of reference and shall not constitute a part of this Agreement nor shall they affect the meaning, construction or effect of any
provision hereof, (iv) references in this Agreement to “include” or “including” shall mean include or including, as applicable, without limiting the generality of any description preceding such term, (v) each of the
parties to this Agreement and its counsel have reviewed and revised, or requested revisions to, this Agreement, and the rule of construction that any ambiguities are to be resolved against the drafting party shall be inapplicable in the construction
and interpretation of this Agreement, (vi) any definition of or reference to any Facility Document, agreement, instrument or other document herein shall be construed as referring to such agreement, instrument

 
or other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth
herein), (vii) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to any restrictions set forth herein or in any other applicable agreement), (viii) any reference to any law or
regulation herein shall refer to such law or regulation as amended, modified or supplemented from time to time, (ix) (h) any use of the term “knowledge” or “actual knowledge” in this Agreement or any other Facility Document
shall mean actual knowledge by a Responsible Officer of such party and (x) each reference to time without further specification shall mean New York, New York time. 

Section 1.03 Computation of Time Periods. Unless otherwise stated in this Agreement, in the computation of a period of time from a
specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” both mean “to but excluding”. Periods of days referred to in this Agreement shall
be counted in calendar days unless Business Days are expressly prescribed. 
 Section 1.04 Collateral Value Calculation
Procedures. In connection with all calculations required to be made pursuant to this Agreement with respect to any payments on any other assets included in the Collateral, with respect to the sale of and purchase of Facility Receivables, and
with respect to the income that can be earned on any other amounts that may be received for deposit in the Collection Account, the provisions set forth in this Section 1.04 shall be applied. The provisions of this
Section 1.04 shall be applicable to any determination or calculation that is covered by this Section 1.04, whether or not reference is specifically made to Section 1.04,
unless some other method of calculation or determination is expressly specified in the particular provision. 
 (a) References in the
Priority of Payments to calculations made on a “pro forma basis” shall mean such calculations after giving effect to all payments, in accordance with the Priority of Payments, that precede (in priority of payment) or include the clause in
which such calculation is made. 
 (b) References in this Agreement to the Borrower’s “purchase” or “acquisition”
of a Facility Receivable include references to the Borrower’s acquisition of such Facility Receivable by way of a sale and/or contribution from the Seller. 

(c) For the purposes of calculating Excess Concentration Amounts all calculations will be rounded to the nearest 0.01%. 

(d) Notwithstanding any other provision of this Agreement to the contrary, all monetary calculations under this Agreement shall be in Dollars.
For purposes of this Agreement, calculations with respect to all amounts received or required to be paid in a currency other than Dollars shall be valued at zero. 

  
 2 

 ARTICLE II 

ADVANCES 

Section 2.01 Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article
III, each Lender with a Commitment agrees to make Advances hereunder to the Borrower from time to time on any Business Day during the period from the Closing Date until the Amortization Date, on a pro rata basis, in each case in an aggregate
principal amount at any one time outstanding up to but not exceeding such Lender’s Commitment and, as to all Lenders, in an aggregate principal amount up to but not exceeding an amount such that the aggregate Advances do not exceed the
Borrowing Base as then in effect. Each such borrowing of an Advance on any single day is referred to herein as a “Borrowing”. 

Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.05. Each Lender’s obligations under this Section are several and the failure
of any Lender to make available its share of any requested Advance amount on a Borrowing Date shall not relieve any other Lender of its obligations hereunder. No Lender shall be obligated to fund any portion of any Advance which would cause the
aggregate principal amount of its Advances to exceed its Commitment. The Commitments of each Lender are set forth on Schedule 1. No portion of any Advance shall be funded or held with “plan assets” (within the meaning of the
Department of Labor regulation located at 29 C.F.R. Section 2510.3-101, as modified by Section 3(42) of ERISA). 

Section 2.02 Making of the Advances. 

(a) Advance Request. 

(i) If the Borrower desires to make a Borrowing under this Agreement, the Borrower shall provide the Administrative Agent, not
later than 12:00 p.m. (New York City time) two (2) Business Days prior to the proposed Borrowing Date, a written request for an advance substantially in the form of Exhibit A hereto (a “Request for Advance”) which
Request for Advance shall be irrevocable and effective upon receipt, together with a final Borrowing Base Certificate demonstrating compliance with the Borrowing Base Test, and the related Data File with respect to the requested Borrowing. A Request
for Advance received after 12:00 p.m. (New York City time) shall be deemed received on the following Business Day. 
 (ii)
The proposed Borrowing Date specified in each Request for Advance shall be a Business Day falling prior to the Amortization Date, and the amount of the Borrowing requested in such Request for Advance (the “Requested Amount”) shall
be equal to at least $500,000 (or, if less, the remaining unfunded Commitments hereunder). 
 (iii) Promptly following
receipt of a Request for Advance in accordance with this Section, the Administrative Agent shall advise each applicable Lender of the details thereof and of the amounts of such Lender’s Advance to be made as part of the requested Borrowing.
Each Request for Advance shall be dated the date the request for the related 

  
 3 

 
Borrowing is being made, and signed by a Responsible Officer of the Borrower. By submitting a Request for Advance, the Borrower shall be deemed to have represented and warranted to the
Administrative Agent and the Lenders that, immediately after giving effect to the proposed Borrowing on the related Borrowing Date, each of the conditions precedent set forth in Section 3.02 have been satisfied. 

(iv) No more than two (2) Requests for Advance may be made in any calendar week. 

(b) Funding by Lenders. Each Lender, in respect of Advances, shall make its Percentage of the applicable Requested Amount available on
each Borrowing Date by wire transfer of immediately available funds by 5:00 p.m. (New York City time) to the account designated by the Borrower on the related Request for Advance. Notwithstanding the foregoing, with respect to any Facility Group,
each Conduit Lender without a Commitment in such Facility Group may, in its sole discretion, make available to the Borrower the Percentage of the applicable Requested Amount allocable to such Conduit Lender’s Facility Group. If a Conduit Lender
(other than a Conduit Lender with a Commitment) elects not to fund its Facility Group’s Percentage of the Requested Amount, such Conduit Lender’s related Lenders with Commitments shall, upon satisfaction of the applicable conditions set
forth in this Agreement, make available to the Borrower, their respective Percentages of the Requested Amount. 
 (c) [Reserved].

 (d) Indemnification. Upon submission, each Request for Advance shall be irrevocable and binding on the Borrower, and the Borrower
shall indemnify each Lender against any loss or expense incurred by such Lender, either directly or indirectly (including, in the case of a Conduit Lender, through the applicable Program Support Agreement) as a result of any failure by the Borrower
to complete such Advance, including any loss or expense incurred by such Lender or such Lender’s conduit administrator, either directly or indirectly (including, in the case of a Conduit Lender, pursuant to the applicable Program Support
Agreement) by reason of the liquidation or reemployment of funds acquired by such Lender (or the applicable Program Support Provider(s)) (including funds obtained by issuing CP or promissory notes or obtaining deposits or loans from third parties)
in order to fund such Advance. 
 (e) Delayed Funding. If the Borrower delivers a request for an Advance pursuant to
Section 2.02, then the Lenders may, not later than 4:00 p.m., New York City time on the date that is one (1) Business Day prior to the proposed Borrowing Date, deliver a written notice (a “Delayed Funding
Notice”, and the date of such delivery, the “Delayed Funding Notice Date”) to the Borrower of its intention to fund the Advance (such amount, the “Delayed Amount”) on a date (the date of such funding, the
“Delayed Funding Date”) that is on or before the thirty-fifth (35th) day following the date of such request for an Advance (or if such day is not a Business Day, then on the next succeeding Business Day) rather than on the requested
Borrowing Date; provided, however, that if Borrower receives a Delayed Funding Notice, the Borrower may revoke the related request for Advance by providing written notice thereof to the Administrative Agent. A Lender that delivers a
Delayed Funding Notice with respect to any Borrowing Date shall be referred to herein as a “Delaying Lender” with respect to such Borrowing Date. If the conditions to any Advance described in
Section 3.02 are satisfied on the requested Borrowing Date, there shall be 

  
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no conditions to the Lenders’ obligation to fund the requested amount on the related Delayed Funding Date. On each Delayed Funding Date, the Delaying Lender shall fund an aggregate
amount equal to the Delayed Amount for such Delayed Funding Date. No Unused Fee shall accrue on the Delayed Amount of such Delaying Lender’s Commitment. Each Lender agrees that, to the extent it is a Delaying Lender, such Lender will agree not
to adversely select this transaction for delayed funding with respect to an Advance as compared to other similar transactions requesting advances at such time. 

Section 2.03 Evidence of Indebtedness. 

(a) Maintenance of Records by Lenders. Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to it and resulting from the Advances made by such Lender to the Borrower, from time to time, including the amounts of principal and interest thereon and paid to it, from time to time hereunder. 

(b) Maintenance of Records by Administrative Agent. The Administrative Agent shall maintain records in which it shall record
(i) the amount of each Advance made hereunder, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the
Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 
 (c) Effect of Entries. The
entries made in the records maintained pursuant to paragraph (a) or (b) of this Section shall be prima facie evidence, absent obvious error, of the existence and amounts of the obligations recorded therein; provided that the failure of
any Lender or the Administrative Agent to maintain such records or any error therein shall not in any manner affect the obligation of the Borrower to repay the Advances in accordance with the terms of this Agreement. 

Section 2.04 Payment of Principal and Interest. The Borrower shall pay principal and Interest on the Advances as follows: 

(a) 100% of the outstanding principal amount of each Advance, together with all accrued and unpaid Interest thereon, shall be payable on the
Final Maturity Date. 
 (b) Interest shall accrue on the unpaid principal amount of each Advance from the date of such Advance until such
principal amount is paid in full. The interest rates applicable to the Advances shall be determined by the Administrative Agent in accordance with the applicable provisions hereof, and such determination shall be conclusive absent manifest error.

 (c) Accrued Interest on each Advance shall be payable in arrears (x) on each Payment Date, and (y) in connection with any
prepayment in full of the Advances pursuant to Section 2.05(a); provided that (i) with respect to any prepayment in full of the Advances outstanding, accrued Interest on such amount to but excluding the date of
prepayment may be payable on such date or as otherwise agreed to between the Lenders and the Borrower and (ii) with respect to any partial prepayment of the Advances outstanding, accrued Interest on such amount to but excluding the date of
prepayment shall be payable following such prepayment on the applicable Payment Date in accordance with the Priority of Payments for the Collection Period in which such prepayment occurred. 

  
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 (d) Subject in all cases to Section 2.04(e), the obligation of the
Borrower to pay the Obligations, including the obligation of the Borrower to pay the Lenders the outstanding principal amount of the Advances and accrued interest thereon, shall be absolute, unconditional and irrevocable, and shall be paid strictly
in accordance with the terms hereof (including Section 2.12), under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment which the Borrower or any other Person may have or have had
against any Secured Party or any other Person. 
 (e) No recourse shall be had against any officer, director, employee, shareholder, owner,
Affiliate, member, manager, agent, partner, principal or incorporator of the Borrower or their respective successors or assigns for any amounts payable by the Borrower under this Agreement. 

Section 2.05 Prepayment of Advances. 

(a) Optional Prepayments. The Borrower may, from time to time on any Business Day, voluntarily prepay Advances in whole or in part,
without penalty or premium but subject to payment of all amounts due pursuant to Section 2.04(c), as follows: the Borrower shall have delivered to the Administrative Agent written notice of such prepayment (such notice, a
“Notice of Prepayment”) in the form of Exhibit B hereto by no later than 12:00 p.m. (New York City time) on the second Business Day immediately prior to the day of such prepayment (or such notice may be delivered at a later
time or date as the Administrative Agent may agree in its sole discretion). Any Notice of Prepayment received by the Administrative Agent after 12:00 p.m. (New York City time) shall be deemed received on the next Business Day. Upon receipt of such
Notice of Prepayment, the Administrative Agent shall promptly notify each Lender. Each such Notice of Prepayment shall be irrevocable and effective upon the date received and shall be dated the date such notice is given, signed by a Responsible
Officer of the Borrower and otherwise appropriately completed. Each prepayment of any Advance by the Borrower pursuant to this Section 2.05(a) shall in each case be in a principal amount of at least $500,000 or, if less,
the entire outstanding principal amount of the Advances of the Borrower. If a Notice of Prepayment is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date
specified therein. The Borrower shall make the payment amount specified in such notice by wire transfer of immediately available funds by 3:00 p.m. (New York City time) to the account of the Administrative Agent, for the account of the Lenders, as
directed by the Administrative Agent. 
 (b) Mandatory Prepayments. The Borrower shall prepay the Advances on each Payment Date in
the manner and to the extent provided in the Priority of Payments. The Borrower and the Seller shall provide, in each Monthly Report, notice of the aggregate amounts of Advances that are to be prepaid on the related Payment Date in accordance with
the Priority of Payments. Additionally, if on any day during the Revolving Period the Borrowing Base Test shall not be satisfied, the Borrower shall either (i) prepay the Advances in an amount sufficient to satisfy the Borrowing Base Test by
withdrawing funds on deposit in the Collection Account or (ii) identify and pledge, in accordance with the terms of Section 7.01 of this Agreement, additional Eligible Receivables with respect to which the Excess
Concentration Amounts are satisfied as of such date in an amount sufficient to satisfy the Borrowing Base Test, in each case, within two (2) Business Days of either (1) a Responsible Officer of the Borrower or the Seller obtaining actual
knowledge 

  
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thereof or (2) receipt of written notice by the Borrower or the Seller (which may be by email) of such condition from the Administrative Agent; provided, however, that solely
for purposes of this Section 2.05(b), for purposes of determining whether or not the Borrower is required to make a mandatory prepayment pursuant to this Section 2.05(b), the aggregate amount of
cash on deposit in the Collection Account less any amounts that are estimated in good faith to be payable pursuant to Section 9.01(a)(i) through (iii) on the next Payment Date shall be deducted from the Advances
in clause (a) for the calculation of the Borrowing Base Test. 
 (c) Additional Prepayment Provisions. Each prepayment pursuant
to this Section 2.05 shall be subject to Section 2.04(c) and applied to the Advances in accordance with the Lenders’ respective Percentages. 

(d) Interest on Prepaid Advances. If requested by the Administrative Agent, the Borrower shall pay all accrued and unpaid Interest on
Advances prepaid on the date of such prepayment, subject to the availability of funds to the Borrower for the payment of any such amounts. 

Section 2.06 Changes of Commitments. 

(a) Automatic Reduction and Termination. The Commitments of all Lenders shall be automatically reduced to zero at 5:00 p.m. (New York
City time) on the Amortization Date. 
 (b) Optional Reductions. Prior to the Amortization Date, the Borrower shall have the right to
terminate or reduce the unused amount of the Commitment Amount at any time or from time to time without any fee or penalty upon not less than five (5) Business Days’ prior notice to the Lenders and the Administrative Agent of each such
termination or reduction, which notice shall specify the effective date of such termination or reduction and the amount of any such reduction; provided that (i) the amount of any such reduction of the Commitment Amount shall be equal to
at least $1,000,000 or an integral multiple of $250,000 in excess thereof or, if less, the remaining unused portion thereof, and (ii) no such reduction will reduce the Commitment Amount below the aggregate principal amount of Advances
outstanding at such time. Such notice of termination or reduction shall be irrevocable and effective only upon receipt and shall be applied pro rata to reduce the respective Commitments of each Lender. Notwithstanding the foregoing, upon the
occurrence of a Change of Control, the Borrower shall have the right to immediately terminate the unused amount of the Commitment Amount. 

(c) Effect of Termination or Reduction. The Commitments of the Lenders once terminated or reduced may not be reinstated unless by
mutual consent. Each reduction of the Commitment Amount pursuant to this Section 2.06 shall be applied ratably among the Lenders in accordance with their respective Commitments. 

Section 2.07 Maximum Lawful Rate. It is the intention of the parties hereto that the interest on the Advances shall not exceed the
maximum rate permissible under Applicable Law. Accordingly, anything herein to the contrary notwithstanding, in the event any interest is charged to, collected from or received from or on behalf of the Borrower by the Lenders pursuant hereto or
thereto in excess of such maximum lawful rate, then the excess of such payment over that maximum shall be applied first to the payment of amounts then due and owing by the Borrower to the Secured Parties under this Agreement (other than in respect
of principal of and interest on the Advances) and then to the reduction of the outstanding principal amount of the Advances of the Borrower. 

  
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 Section 2.08 Several Obligations. The failure of any Lender to make any Advance
to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Advance on such date, the Administrative Agent shall not be responsible for the failure of any Lender to make any Advance, and no Lender
shall be responsible for the failure of any other Lender to make an Advance to be made by such other Lender. 
 Section 2.09
Increased Costs. 
 (a) Except with respect to (i) items included in the definition of Taxes under
Section 11.03, (ii) items (B) through (D) of the items expressly excluded from the definition of Taxes in Section 11.03, (iii) Other Taxes and (iv) Other Connection Taxes that are imposed
on or measured by net income (however denominated) or that are franchise or branch profits taxes, if (i) the introduction of or any change in or in the interpretation, application or implementation of any Applicable Law or GAAP or other
applicable accounting policy after the date hereof, or (ii) the compliance with any guideline or directive of general application or request from any central bank or other Governmental Authority after the date hereof (a “Regulatory
Change”): 
 (A) shall impose, modify or deem applicable any reserve (including any reserve imposed by the Board of
Governors of the Federal Reserve System, but excluding any reserve included in the determination of interest on the Advances), special deposit or similar requirement against assets of any Affected Person, deposits or obligations with or for the
account of any Affected Person or credit extended by any Affected Person; 
 (B) shall change the amount of capital
maintained or required or requested or directed to be maintained by any Affected Person; 
 (C) shall impose any other
condition affecting any Advance owned or funded in whole or in part by any Affected Person, or its obligations or rights, if any, to make Advances or to provide funding therefor; or 

(D) shall change the rate for, or the manner in which the Federal Deposit Insurance Corporation (or a successor thereto)
assesses, deposit insurance premiums or similar charges; 
 and the result of any of the foregoing is or would be: 

(b) to increase the cost to such Affected Person funding or making or maintaining any Advance, or any purchases reinvestments or loans or
other extensions of credit under any Program Support Agreement or any Facility Document; or 
 (c) to reduce the amount of any sum received
or receivable by an Affected Person under this Agreement or under any Program Support Agreement; 

  
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 then, commencing on the first Payment Date after demand by such Affected Person (which demand shall be
accompanied by a statement setting forth in reasonable detail the basis of such demand), the Borrower shall pay directly to such Affected Person such additional amount or amounts as will compensate such Affected Person for such additional or
increased cost or such reduction in accordance with the Priority of Payments from funds available for such purpose; provided, that, in each case, such Affected Person has requested, or is planning to request, such payments from similar facilities.
For the avoidance of doubt, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd Frank Act”); (ii) the revised Basel Accord prepared by the Basel Committee on Banking Supervision as set out in the
publication entitled “Basel II: International Convergence of Capital Measurements and Capital Standards: A Revised Framework,” as updated from time to time (“Basel II”); (iii) the publication entitled “Basel III: A
global regulatory framework for more resilient banks and banking systems,” as updated from time to time (“Basel III”), including any publications addressing the liquidity coverage ratio or the supplementary leverage ratio
promulgated by the Bank for International Settlements or the Basel Committee on Banking Supervision; or (iv) any implementing laws, rules, regulations or directives from any Governmental Authority relating to the Dodd Frank Act, Basel II or
Basel III, and in each case all rules and regulations promulgated thereunder or issued in connection therewith shall be deemed to have been introduced after the Closing Date, thereby constituting a Regulatory Change hereunder with respect to the
Affected Persons as of the Closing Date, regardless of the date enacted, adopted or issued, and such additional amounts which are sufficient to compensate such Affected Person for such increase in capital or liquidity or reduced return in accordance
with the Priority of Payments. 
 The Borrower acknowledges that this Section 2.09 permits the Affected Person to
institute measures in anticipation of a Regulatory Change (including the imposition of internal charges on the Affected Person’s interests or obligations under this Agreement), and allows the Affected Person to commence allocating charges to or
seeking compensation from the Borrower under this Section 2.09 in connection with such measures (such amounts being referred to as “Early Adoption Increased Costs”), in advance of the effective date of such
Regulatory Change, and the Borrower agrees to pay such Early Adoption Increased Costs to the Affected Person following demand therefor without regard to whether such effective date has occurred in accordance with the Priority of Payments from funds
available for such purpose; provided, that (i) the related Lender shall provide thirty (30) days prior written notice to the Borrower of its intent to impose or incur any such charges or compensation and (ii) the related
Affected Person shall not be compensated for any such amount pursuant to this paragraph relating to any period ending, and of which the related Affected Person has had knowledge, more than ninety (90) days prior to the date that the related
Lender provided the Borrower the written notice contemplated by the preceding clause (i) of this paragraph. 
 If any Affected
Person becomes entitled to claim any additional amounts pursuant to this Section 2.09, 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. A certificate setting forth in reasonable detail such amounts submitted to the Borrower by an Affected Person shall be conclusive and binding for all purposes, absent manifest error. 

  
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 (d) Upon the occurrence of any event giving rise to the Borrower’s obligation to pay
additional amounts to a Lender pursuant to this Section 2.09, such Lender will, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations of such Lender) to reduce or eliminate any claim
for compensation pursuant to this Section 2.09, including but not limited to designating a different lending office if such designation would reduce or obviate the obligations of the Borrower to make future payments of such
additional amounts; provided that such designation is made on such terms that such Lender and its lending office suffer no unreimbursed cost or material legal or regulatory disadvantage (as reasonably determined by such Lender), with the
object of avoiding future consequence of the event giving rise to the operation of any such provision. 
 Section 2.10 Rescission or
Return of Payment. The Borrower agrees that, if at any time (including after the occurrence of the Final Maturity Date) all or any part of any payment theretofore made by it to any Secured Party or any designee of a Secured Party is or must be
rescinded or returned for any reason whatsoever (including the insolvency, bankruptcy or reorganization of the Borrower or any of its Affiliates), the obligation of the Borrower to make such payment to such Secured Party shall, for the purposes of
this Agreement, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence and this Agreement shall continue to be effective or be reinstated, as the case maybe, as to such obligations, all as
though such payment had not been made; provided that interest shall not accrue on any such amount from and after the date of its original payment by the Borrower. 

Section 2.11 Post-Default Interest. The Borrower shall pay interest on all Obligations that are not paid when due for the period
from the due date thereof until the date the same is paid in full at the Post-Default Rate. Interest payable at the Post-Default Rate shall be payable on each Payment Date in accordance with the Priority of Payments. Notwithstanding anything to the
contrary set forth in this Agreement, the waiver of Interest paid at the Post-Default Rate shall only require the consent of the Majority Lenders. 

Section 2.12 Payments Generally. 

(a) Except as otherwise provided under Section 11.04, all amounts owing and payable to any Secured Party, any
Affected Person or any Indemnified Party, in respect of the Advances and other Obligations, including the principal thereof, interest, fees, indemnities, expenses or other amounts payable under this Agreement, shall be paid by the Borrower to such
Person, in Dollars, in immediately available funds, in accordance with the Priority of Payments, and all without counterclaim, setoff, deduction, defense, abatement, suspension or deferment. The Administrative Agent and each Lender shall provide
wire instructions to the Borrower and the Administrative Agent no later than three (3) Business Days prior to the effective date of any such change in wire instructions. Payments must be received by the applicable recipient on or prior to 2:00
p.m. (New York City time) on a Business Day; provided that, payments received after 2:00 p.m. (New York City time) on a Business Day will be deemed to have been paid on the next following Business Day. 

(b) Except as otherwise expressly provided herein, all computations of interest, fees and other Obligations shall be made on the basis of a
year of 360 days for the actual number of days elapsed in computing interest on any Advance, the date of the making of the Advance shall be included and the date of payment shall be excluded; provided that, if an Advance is repaid on the same
day on which it is made, one day’s Interest shall be paid on such Advance. All computations made by a Lender or the Administrative Agent under this Agreement shall be conclusive absent manifest error. 

  
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 Section 2.13 Extension of the Scheduled Revolving Period Termination Date. A
Responsible Officer of the Borrower may make a request to the Administrative Agent and the Lenders, upon written notice, to extend the Scheduled Revolving Period Termination Date for an additional period agreeable to the Administrative Agent and the
Lenders in their sole discretion. No later than thirty (30) days from the date on which the Administrative Agent and the Lenders shall have received any such notice from a Responsible Officer of the Borrower pursuant to the preceding sentence,
the Administrative Agent and the Lenders shall notify the Borrower of the initial consent or non-consent of the Administrative Agent and the Lenders to such extension request, which consent shall be given at
the sole and absolute discretion of the Administrative Agent and each Lender. If the Administrative Agent and the Lenders shall have consented to such extension request, the Administrative Agent and the Lenders shall deliver to the Borrower written
notice of the Administrative Agent’s and the Lenders’ election to extend the Scheduled Revolving Period Termination Date. The consent of the Administrative Agent and the Lenders shall be subject to the preparation, execution and delivery
of any required legal documentation in form and substance satisfactory to the Administrative Agent and the Lenders in their sole discretion. Failure of the Administrative Agent and the Lenders to respond to a request for extension of the Scheduled
Revolving Period Termination Date shall constitute denial of such extension and, as a result, the current Scheduled Revolving Period Termination Date will continue to be applicable. The Administrative Agent, the Lenders and the Borrower may also
agree to extend the Scheduled Revolving Period Termination Date at any other time in their respective sole discretion. As part of any extension of the Scheduled Revolving Period Termination Date, the Final Maturity Date shall also be extended by an
equal period of time unless otherwise agreed by the Administrative Agent, the Lenders and the Borrower. 
 Section 2.14 Replacement
of Lenders. 
 (a) Notwithstanding anything to the contrary contained herein, in the event that (i) any Affected Person shall
request reimbursement for amounts owing pursuant to Section 2.09 or 11.03, (ii) any Lender does not give or approve any consent, waiver or amendment that requires the approval of all Lenders or all affected Lenders
in accordance with the terms hereof and has been approved by the Majority Lenders or (iii) a Lender is a Defaulting Lender (each such Lender, or each Lender related to such Affected Person, described in the foregoing clauses (i),
(ii) and (iii), a “Potential Terminated Lender”) the Borrower, at their sole expense and effort in connection with any replacement of a Potential Terminated Lender made in reliance on clause (ii) above,
shall be permitted, upon no less than ten (10) days’ written notice to the Administrative Agent and such Potential Terminated Lender, to require such Potential Terminated Lender to assign and delegate, without recourse (in accordance with
and subject to the restrictions contained in, and consents required by, Section 11.06), all of its interests, rights (other than its existing rights to payments pursuant to Section 2.09 or
11.03) and obligations under this Agreement and the related Facility Documents to an assignee permitted pursuant to Section 11.06 (a “Replacement Lender”) that shall assume such obligations (which
assignee may be another Lender, if such Lender accepts such assignment); provided that: 

  
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 (A) such Potential Terminated Lender shall have received payment of the
lesser of (i) an amount equal to the outstanding principal of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Facility Documents or (ii) such other agreed-upon amount,
from the Replacement Lender (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 

(B) in the case of any such assignment resulting from a claim for compensation under Section 2.09 or
11.03, such assignment will result in a reduction in such compensation or payments thereafter; 
 (C) such assignment
does not conflict with Applicable Laws; and 
 (D) in the case of an assignment based on clause (ii) above, the
Replacement Lender shall have consented to the applicable amendment, waiver or consent. 
 (b) Each Potential Terminated Lender hereby
agrees to take all actions reasonably necessary, at the sole expense of the Borrower, to permit a Replacement Lender to succeed to its rights and obligations hereunder. Upon the effectiveness of any such assignment to a Replacement Lender,
(i) such Replacement Lender shall become a “Lender” hereunder for all purposes of this Agreement and the other Facility Documents, (ii) such Replacement Lender shall have a Commitment in the amount not less than the Potential
Terminated Lender’s Commitment assumed by it and (iii) the Commitment of the Potential Terminated Lender shall be terminated in all respects. 

(c) No Lender shall be required to make any assignment or delegation pursuant to Section 2.14(a) if, prior thereto,
as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

Section 2.15 Defaulting Lenders. 

(a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as such 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 set forth in Section 11.01(c). 

(ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees, indemnities or other amounts received by the
Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VI or otherwise) 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, as the Borrower may request (so long as no Unmatured Event of Default or Event of Default exists), to the

  
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funding of any Advance 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; third, if
so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to satisfy such Defaulting Lender’s potential future funding obligations with respect to Advances under this Agreement;
fourth, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its
obligations under this Agreement; fifth, so long as no Unmatured Event of 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 sixth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction;
provided that if (x) such payment is a payment of the principal amount of any Advances in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Advances were made at a time when the
conditions set forth in Section 3.02 were satisfied or waived, such payment shall be applied solely to pay the Advances of all Lenders other than the Defaulting Lender on a pro rata basis prior to being applied to the
payment of any Advances of such Defaulting Lender until such time as all Advances are held by the Lenders pro rata in accordance with their Percentages of the applicable Commitments. 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 this Section 2.15(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and
each Lender irrevocably consents hereto. 
 (iii) Certain Fees. Notwithstanding any other provision of this Agreement
or the other Facility Documents to the contrary, for so long as a Lender is a Defaulting Lender (such period of time, a “Default Period”), such Defaulting Lender shall not be entitled to receive any applicable unused commitment fees
accruing to it during such Default Period under this Agreement or any other Facility Document (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). 

(b) Defaulting Lender Cure. If the Borrower and the Administrative Agent agree in writing that a Lender that is 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, that Lender shall purchase
such portions of the outstanding Advances of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Advances to be held pro rata by the Lenders in accordance with their respective
Percentages of the applicable Commitments, whereupon such Lender will cease to be a Defaulting Lender and will be a Non-Defaulting Lender; provided that except to the extent otherwise expressly agreed
by the affected parties, no change hereunder from Defaulting Lender to Non-Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been
a Defaulting Lender. 

  
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 (c) The Borrower may terminate the unused amount of the Commitment of any Defaulting Lender
upon not less than three (3) Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof); provided that such termination shall not be deemed to be a waiver or release of any claim the
Borrower, the Administrative Agent or any Lender may have against such Defaulting Lender. 
 Section 2.16 Interest Rates; LIBOR
Notification. The interest rate on Advances is determined by reference to the LIBOR Base 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. On March 5, 2021, the Financial Conduct Authority (“FCA”) publicly announced that: (a) immediately after December 31, 2021,
publication of the 1-week and 2-month U.S. Dollar LIBOR settings will permanently cease; immediately after June 30, 2023, publication of the overnight and 12-month U.S. Dollar LIBOR settings will permanently cease; and immediately after June 30, 2023, the 1-month, 3-month and 6-month U.S. Dollar LIBOR settings will cease to be provided or, subject to the FCA’s consideration of the case, be provided on a synthetic basis and no longer be representative of the underlying market
and economic reality they are intended to measure and that representativeness will not be restored. There is no assurance that dates announced by the FCA will not change or that the administrator of the London interbank offered rate and/or
regulators will not take further action that could impact the availability, composition, or characteristics of the London interbank offered rate or the currencies and/or tenors for which the London interbank offered rate is published. Each
party to this agreement should consult its own advisors to stay informed of any such developments. 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. In the event that the London interbank offered rate is no longer available or in certain other circumstances as set forth in Section 2.17, such
Section 2.17 provides a mechanism for determining the Benchmark Replacement. The Administrative Agent will promptly notify the Borrower, pursuant to Section 2.17, of any change to the reference
rate upon which the interest rate an Advance using the applicable LIBOR Rate is based. However, 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 “LIBOR Base Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof (including,
(i) any such alternative, successor or replacement rate implemented pursuant to Section 2.17, whether upon the occurrence of a Benchmark Transition Event or an Early Opt-in
Election, and (ii) the implementation of any Benchmark Replacement Conforming Changes pursuant to Section 2.17), including, 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 LIBOR Base Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability. 

Section 2.17 Alternate Rate of Interest. 

Notwithstanding anything to the contrary herein or in any other Facility Document: 

(a) On March 5, 2021 the FCA, the regulatory supervisor of the LIBOR Base Rate’s administrator (“IBA”), announced
in a public statement the future cessation or loss of 

  
 14 

 
representativeness of overnight/Spot Next, 1-month, 3-month, 6-month and 12-month LIBOR Base Rate tenor settings. On the earlier of (i) the date that all Available Tenors of the LIBOR Base Rate have either permanently or indefinitely ceased to be provided by IBA or have been
announced by the FCA pursuant to public statement or publication of information to be no longer representative and (ii) the Early Opt-in Effective Date, if the then-current Benchmark is the LIBOR Base
Rate, the Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Facility Document in respect of any setting of such Benchmark on such day and all subsequent settings without any amendment to, or further action or
consent of any other party to this Agreement or any other Facility Document. If the Benchmark Replacement is Daily Simple SOFR, all interest payments will be payable on a monthly basis. 

(b) Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes
hereunder and under any Facility Document in respect of any Benchmark setting at or after 5:00 p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders and the Borrower without any amendment
to, or further action or consent of any other party to, this Agreement or any other Facility 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 Majority Lenders. At any time that the administrator of the then-current Benchmark has permanently or indefinitely ceased to provide such Benchmark or such Benchmark has been announced by the regulatory supervisor for the
administrator of such Benchmark pursuant to public statement or publication of information to be no longer representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not
be restored, the Borrower may revoke any request for a borrowing of, conversion to or continuation of Advances to be made, converted or continued that would bear interest by reference to such Benchmark until the Borrower’s receipt of notice
from the Administrative Agent that a Benchmark Replacement has replaced such Benchmark, and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Advances. During
the period referenced in the foregoing sentence, the component of Base Rate based upon the Benchmark will not be used in any determination of Base Rate. 

(c) In connection with the implementation and administration 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 Facility 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. 
 (d) The Administrative Agent will promptly notify the
Borrower and the Lenders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Benchmark Replacement Conforming Changes. 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 2.17, 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, 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 hereto, except, in each case, as expressly required pursuant to this Section 2.17. 

  
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 (e) 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 LIBOR Base Rate), then the Administrative Agent may remove any tenor of such Benchmark that is unavailable or
non-representative for Benchmark (including Benchmark Replacement) settings and (ii) the Administrative Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark
Replacement) settings. 
 ARTICLE III 

CONDITIONS PRECEDENT 

Section 3.01 Conditions Precedent to Initial Advance. The effectiveness of this Agreement and of the obligation of each Lender
hereunder to make its initial Advance hereunder shall be subject to the satisfaction or waiver by the Administrative Agent of the following conditions precedent on or prior to the Closing Date: 

(a) each of the Facility Documents and the Performance Guaranty duly executed and delivered by the parties thereto, which shall each be in
full force and effect; 
 (b) true and complete copies of the Constituent Documents of the Borrower, the Parent, the Seller and the Servicer
as in effect on the Closing Date and, to the extent applicable, (x) certified within forty-five (45) days of the Closing Date by the appropriate governmental official and (y) certified by its secretary or an assistant secretary as of
the Closing Date, in each case, as being in full force and effect without modification or amendment, (ii) signature and incumbency certificates of the officers of such Person executing the Facility Documents to which it is a party,
(iii) resolutions of the board of directors or similar governing body of each of the Borrower, the Parent, the Seller and the Servicer approving and authorizing the execution, delivery and performance of this Agreement and the other Facility
Documents to which it is a party or by which it or its assets may be bound as of the Closing Date, certified as of the Closing Date by its secretary or an assistant secretary as being in full force and effect without modification or amendment and
(iv) a good standing certificate from the applicable Governmental Authority of each of the Borrower’s, the Parent’s, the Seller’s and the Servicer’s jurisdiction of incorporation, organization or formation and, with respect
to the Borrower, in each jurisdiction in which it is qualified as a foreign corporation or other entity to do business except where such failure to be qualified would not reasonably be expected to have a Material Adverse Effect, each dated a recent
date prior to the Closing Date; 
 (c) each of the Borrower, the Seller and the Servicer shall have obtained all Governmental Authorizations
and all consents of other Persons, in each case that are necessary or advisable to be obtained by them, in connection with the transactions contemplated by the Facility Documents and each of the foregoing shall be in full force and effect and in
form and substance reasonably satisfactory to the Administrative Agent other than those consents or approvals that failure of which to obtain would not reasonably be expected to have a Material Adverse Effect; 

(d) the Borrower and the Seller shall have delivered to the Administrative Agent an originally executed Closing Date Certificate, in each
case, dated as of the Closing Date; 

  
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 (e) the Administrative Agent shall have received a Solvency Certificate from each of the
Borrower and the Seller, in each case, dated as of the Closing Date; 
 (f) financing statements, to be filed on the Closing Date, under the
UCC in each jurisdiction necessary to perfect the security interest of the Administrative Agent in the Collateral, as contemplated by this Agreement; 

(g) copies of financing statements, if any, necessary to release all security interests and other rights of any Person in the Collateral
previously granted by the Borrower or any transferor; 
 (h) legal opinions (addressed to each of the Secured Parties) of one or more firms
of counsel to the Borrower, the Parent and the Seller and an in-house legal opinion of the Servicer, in each case, covering such matters as the Administrative Agent and its counsel shall reasonably request
including, but not limited to, opinions regarding substantive non-consolidation, true sale, enforceability, covered fund matters under the Volcker Rule, no conflicts and perfection; 

(i) evidence reasonably satisfactory to it that all of the Borrower Accounts shall have been established; 

(j) evidence that (x) all fees to be received by the Administrative Agent and each Lender on or prior to the date of the initial Advance
pursuant to the Fee Letter; and (y) the accrued reasonable and documented out-of-pocket and third party fees and expenses of the Administrative Agent and the
Lenders associated with the review, preparation, execution and delivery of the Facility Documents and the closing of the transactions contemplated hereby and thereby, including rating agency conduit affirmation fees to the extent attributable to
this Agreement and the reasonable and documented fees and expenses of Katten Muchin Rosenman LLP, counsel to the Administrative Agent, in connection with the transactions contemplated hereby, shall have been paid by the Borrower, in each case to the
extent such fees and expenses were invoiced to the Borrower at least two (2) Business Days prior to such date; and 
 (k) the
Administrative Agent shall not have become aware, since March 31, 2020, of any new information or other matters not previously disclosed to the Administrative Agent relating to the Borrower, the Parent, the Seller or the Servicer or the
transactions contemplated herein that the Administrative Agent, in its reasonable judgment, deems inconsistent in a material and adverse manner with the information or other matters previously disclosed to the Administrative Agent relating to the
Borrower, the Parent, the Seller and the Servicer; and 
 (l) the Administrative Agent shall have received certificates from the
Servicer’s insurance broker, or other evidence satisfactory to it that all insurance required to be maintained under the Servicing Agreement, is in full force and effect, and the Administrative Agent shall have completed its review of the
insurance coverage for the Servicer and the results of such review shall be satisfactory to the Administrative Agent. 
 Section 3.02
Conditions Precedent to Each Borrowing. The obligation of each Lender to make each Advance to be made by it (including the initial Advance) on each Borrowing Date shall be subject to the satisfaction or waiver by the Administrative Agent of
the following conditions precedent: 

  
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 (a) the Administrative Agent shall have received a Request for Advance with respect to such
Advance (including the Borrowing Base Certificate attached thereto demonstrating compliance with the Borrowing Base Test) delivered in accordance with Sections 2.02(a)(i) and 2.02(a)(ii), respectively; 

(b) immediately after the making of such Advance on the applicable Borrowing Date, the Borrowing Base Test is satisfied on a pro forma basis
at such time (as demonstrated in the calculations attached to the applicable Request for Advance); 
 (c) each of the representations and
warranties of the Borrower, the Seller, the Servicer and the Originator contained in this Agreement and the other Facility Documents shall be true and correct in all material respects (except for representations and warranties already expressly
qualified by materiality or Material Adverse Effect, which shall be true and correct) as of such Borrowing Date (except to the extent such representations and warranties expressly relate to any earlier date, in which case such representations and
warranties shall be true and correct in all material respects as of such earlier date as if made on such date); 
 (d) no Unmatured Event of
Default, Event of Default or Early Amortization Event shall have occurred and be continuing at the time of the making of such Advance or shall result upon the making of such Advance; and 

(e) as of such Borrowing Date, the Administrative Agent shall have approved any changes to the Concierge Capital Underwriting Policy and the
Accepted Servicing Policies in the manner prescribed in Section 5.01(h) of this Agreement. 
 Section 3.03
Conditions Precedent to Amendment and Restatement. The effectiveness of the amendment and restatement of this Agreement shall be subject to the satisfaction or waiver by the Administrative Agent of the following conditions precedent: 

(a) each of the Facility Documents (other than the Account Control Agreement) being amended and restated duly executed and delivered by the
parties thereto, which shall each be in full force and effect; 
 (b) true and complete copies of the Constituent Documents of the Borrower,
the Seller and the Servicer as in effect on the Amendment Effective Date and, to the extent applicable, (x) certified within forty-five (45) days of the Amendment Effective Date by the appropriate governmental official and
(y) certified by its secretary or an assistant secretary as of the Amendment Effective Date, in each case, as being in full force and effect without modification or amendment, (ii) signature and incumbency certificates of the officers of
such Person executing the such amended and restated Facility Documents to which it is a party, (iii) resolutions of the board of directors or similar governing body of each of the Borrower, the Seller and the Servicer approving and authorizing
the execution, delivery and performance of this Agreement and the other amended and restated Facility Documents to which it is a party or by which it or its assets may be bound as of the Amendment Effective Date, certified as of the Amendment
Effective Date by its secretary or an assistant secretary as being in full force and effect without modification or amendment and (iv) a good standing certificate from the applicable Governmental Authority of each of the Borrower’s, the
Seller’s and the Servicer’s jurisdiction of incorporation, organization or 

  
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formation and, with respect to the Borrower, in each jurisdiction in which it is qualified as a foreign corporation or other entity to do business except where such failure to be qualified would
not reasonably be expected to have a Material Adverse Effect, each dated a recent date prior to the Amendment Effective Date; 
 (c) the
Borrower, the Seller and the Servicer shall have delivered to the Administrative Agent an originally executed Amendment Effective Date Certificate, in each case, dated as of the Amendment Effective Date; 

(d) the Administrative Agent shall have received a Solvency Certificate from each of the Borrower, the Seller and the Servicer, in each case,
dated as of the Amendment Effective Date; 
 (e) UCC-3 financing statement amendments, to be filed
on the Amendment Effective Date, under the UCC in each jurisdiction necessary to amend the description of the Collateral to maintain the perfection of the security interest of the Administrative Agent in the Collateral, as contemplated by this
Agreement; and 
 (f) legal opinion (addressed to each of the Secured Parties) of counsel to the Borrower and the Seller, and in-house counsel to the Servicer covering corporate and enforceability matters. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

Section 4.01 Representations and Warranties. The Borrower represents and warrants to each of the Secured Parties on the Closing
Date, each Monthly Reporting Date and each Borrowing Date (and, in respect of clause (l) below, each date such information is provided by or on behalf of it), as follows: 

(a) Due Organization. It (i) is duly organized or formed, validly existing and in good standing under the laws of the State of its
organization and (ii) has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into the Facility Documents to which it is a party, and to carry
out the transactions contemplated thereby and fulfill its Obligations thereunder, including its grant of the Liens with regard to the Collateral. It does not operate or does not do business under any assumed, trade or fictitious name and has no
other operations or business other than owning the Facility Receivables and activities related thereto. 
 (b) Due Qualification and Good
Standing. It is (i) in good standing in the State of Delaware and (ii) duly qualified to do business and, to the extent applicable, in good standing in each other jurisdiction in which the nature of its business, assets and properties,
including the performance of its obligations under this Agreement, the other Facility Documents to which it is a party and its Constituent Documents, requires such qualification, except in jurisdictions where the failure to be so qualified or in
good standing has not had, and would not be reasonably expected to have, a Material Adverse Effect. 

  
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 (c) Due Authorization; Execution and Delivery; Legal, Valid and Binding;
Enforceability. The execution and delivery by the Borrower of, and the performance of its obligations under, the Facility Documents to which it is a party and the other instruments, certificates and agreements contemplated thereby are within its
powers and have been duly authorized by all requisite action by it and have been duly executed and delivered by it and constitute its legal, valid and binding obligations enforceable against it in accordance with their respective terms, except as
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally or general principles of equity, regardless of whether considered in a proceeding in
equity or at law. The Borrower has all requisite power and authority to borrow hereunder. 
 (d)
Non-Contravention. None of the execution and delivery by the Borrower of this Agreement or the other Facility Documents to which it is a party, the Borrowings or the pledge of the Collateral hereunder,
the consummation of the transactions herein or therein contemplated, or compliance by it with the terms, conditions and provisions hereof or thereof, will (i) conflict with, or result in a breach or violation of, or constitute a default under
its Constituent Documents, (ii) conflict with or contravene in any material respect (A) any Applicable Law, (B) any indenture, agreement or other contractual restriction binding on or affecting it or any of its assets, including any
Related Document, or (C) any order, writ, judgment, award, injunction or decree binding on or affecting it or any of its assets or properties or (iii) result in a material breach or violation of, or constitute a default under, or permit
the acceleration of any obligation or liability in, or but for any requirement of the giving of notice or the passage of time (or both) would constitute such a material conflict with, material breach or violation of, or default under, or permit any
such acceleration in, any contractual obligation or any agreement or document to which it is a party or by which it or any of its assets are bound (or to which any such obligation, agreement or document relates). 

  
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 (e) Government Consents. The execution, delivery and performance by the Borrower of
this Agreement and the other Facility Documents to which it is a party and the consummation of the transactions contemplated by the Facility Documents do not and will not require any registration with, consent or approval of, or notice to, or other
action to, with or by, any Governmental Authority, except for filings and recordings with respect to the Collateral to be made, or otherwise delivered to the Administrative Agent for filing and/or recordation, as of the Closing Date other than
(a) those that have already been obtained and are in full force and effect, or (b) any registrations, notices, consents or approvals the failure of which to send or obtain would not reasonably be expected to have a Material Adverse Effect.

 (f) Compliance with Agreements, Laws, Etc. The Borrower has duly observed and complied in all material respects with
all Applicable Laws relating to the conduct of its business, including business related to the obligations under the Facility Documents. Each of the Borrower and the Parent has preserved and kept in full force and effect its legal existence, its
rights, privileges, qualifications and franchises. Without limiting the foregoing, (x) to the extent applicable, the Borrower is in compliance in all material respects with Sanctions, (y) the Borrower, or an Affiliate acting on behalf of
the Borrower, has adopted internal controls and procedures reasonably designed to promote its continued compliance in all material respects with the applicable provisions of Sanctions and to the extent applicable, will adopt procedures consistent
with the PATRIOT Act and implementing regulations, and (z) no direct investor in the Borrower is a Sanctioned Person. 
 (g) No
Material Adverse Effect. To the Borrower’s knowledge, there is no event, fact, condition or circumstance which has resulted in a Material Adverse Effect. 

(h) Litigation. The Borrower (i) is not a party to any material pending action, suit, proceeding or investigation related to the
business of the Borrower, (ii) is not aware of any pending material action, suit, proceeding or investigation with respect the Borrower’s business or any material portion of the Collateral which, in either such case, the Borrower
reasonably expects will be adversely determined and will result in a Material Adverse Effect, (iii) is not a party or subject to any order, writ, injunction, judgment or decree of any Governmental Authority, nor is there any action, suit,
proceeding, inquiry or investigation by any Governmental Authority, in either case, that would reasonably be expected to prevent or materially delay the consummation by the Borrower of the transactions contemplated herein, and (iv) has no
existing material accrued and/or material unpaid penalties, fines or sanctions imposed by and owing to any Governmental Authority or any other governmental payor. 

(i) Location. The Borrower’s registered office and the jurisdiction of organization of the Borrower is in the State of Delaware.

 (j) Subsidiaries. The Borrower has no subsidiaries as of the Closing Date, and 100% of the outstanding Equity Interests in the
Borrower are directly owned (both beneficially and of record) by the Seller. 
 (k) Investment Company Act; Volcker Rule. The
Borrower is not required to register as an “investment company” within the meaning of the Investment Company Act. The rights and obligations of the Administrative Agent and the Lenders under this Agreement and the other Facility Documents
do not constitute an “ownership interest” under the Volcker Rule or cause the Lenders or the Administrative Agent to be a “sponsor” of the Borrower for purposes of the Volcker Rule. 

  
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 (l) Information and Reports. Each Request for Advance and each Monthly Report
(including the calculation of the Borrowing Base Test) and all other written information, reports, certificates and statements (other than projections and forward-looking statements), taken as a whole, furnished by or on behalf of the Borrower to
any Secured Party for purposes of or in connection with this Agreement, the other Facility Documents or the transactions contemplated hereby or thereby are true, complete and correct in all material respects as of the date such information is stated
or certified or updated; provided, however, that with respect to any projections or forward-looking statements furnished by or on behalf of the Borrower or the Seller, such projections and forward-looking statements were based on good
faith estimates and assumptions that were believed by the Borrower or the Seller, as applicable, to be reasonable at the time delivered to the Administrative Agent; and provided, further, that such projections and forward-looking
statements are not to be viewed as facts, are subject to significant uncertainties and contingencies beyond the control of the Borrower or the Seller, as applicable, no assurance can be given that any particular projection or forward-looking
statements will be realized and actual results during the period or periods covered by the projections and forward-looking statements may differ from such projections and that the differences may be material. 

(m) ERISA. The Borrower has no liability or obligation with respect to any Plan or Multiemployer Plan. 

(n) Taxes. The Borrower has filed all income tax returns and all other tax returns which are required to be filed by it, if any, and
has paid all taxes shown to be due and payable (taking into account extensions) on such returns, if any, or pursuant to any assessment by a valid taxing authority received by any such Person, except (i) for any taxes or assessments which are
being contested in good faith by appropriate proceedings and with respect thereto adequate reserves have been established in accordance with GAAP and (ii) to the extent the failure to do so, individually or in the aggregate, could not
reasonably be expected to give rise to a Material Adverse Effect. 
 (o) Tax Status. For U.S. Federal income tax purposes, assuming
that the Advances constitute debt for such purposes, the Borrower (i) is disregarded as an entity separate from its owner and its owner is a United States Person as defined by Section 7701(a)(30) of the Code and (ii) has not made an
election under U.S. Treasury Regulation Section 301.7701-3 and is not otherwise treated as an association taxable as a corporation. 

(p) Collections. The Borrower has, or has caused the Servicer to, set up and maintain a process such that (i) all Collections on
the Facility Receivables that are not Loan Proceeds Returns will transfer directly into the Collection Account within three (3) Business Days after receipt and clearance by the Servicer of such funds and (ii) all Collections on the
Facility Receivables that are Loan Proceeds Returns will be transferred by the Servicer into the Collection Account at least once every two calendar weeks; provided, that if, the aggregate amount of Loan Proceeds Returns accrued since the date of
the last transfer exceeds $50,000, the Servicer shall immediately transfer such aggregate amount of Loan Proceed Returns to the Collection Account. The name and address of the Account Bank, together with the account number of the Collection

  
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Account and the Reserve Account at the Account Bank is listed on Schedule 4 hereto. The Borrower has no other deposit or securities accounts other than the ones listed on Schedule 4
and subject to Liens in favor of the Secured Parties. No Person, other than as contemplated by and subject to this Agreement, has been granted dominion and control for purposes of the UCC of the Collection Account or the Reserve Account, or the
right to take dominion and control of the Collection Account or the Reserve Account at a future time or upon the occurrence of a future event; provided, however, that nothing herein shall be deemed to preclude the Borrower from
granting the Servicer access to the Collection Account for so long as the Servicer is acting in such capacity hereunder for purposes consistent with the terms of this Agreement. The Borrower has not assigned or granted an interest in any rights it
may have in the Collection Account or the Reserve Account to any Person other than the Administrative Agent. 
 (q) Solvency. After
giving effect to each Advance hereunder, and the disbursement of the proceeds of such Advance, the Borrower is and will be Solvent. 
 (r)
Representations Relating to the Collateral. The Borrower hereby represents and warrants that: 
 (i) it owns and has
legal and beneficial title to all Facility Receivables and other Collateral free and clear of any Lien, claim or encumbrance of any person, other than Permitted Liens; 

(ii) the Borrower has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Collateral
(subject to Permitted Liens). The Borrower has not authorized the filing of and is not aware of any financing statements against the Borrower that include a description of collateral covering the Collateral other than any financing statement
relating to the security interest granted to the Administrative Agent hereunder (or to the Borrower under the Purchase Agreement, which security interest has been collaterally assigned to the Administrative Agent)) or that has been terminated; and
the Borrower is not aware of any judgment, PBGC liens or tax lien filings against the Borrower; 
 (iii) the Collateral
constitutes Money, Cash, accounts (as defined in Section 9-102(a)(2) of the UCC), instruments (as defined in Section 9-102(a)(47) of the UCC), general
intangibles (as defined in Section 9-102(a)(42) of the UCC), payment intangibles (as defined in Section 9-102(a)(61) of the UCC), uncertificated securities (as
defined in Section 8-102(a)(18) of the UCC), certificated securities or security entitlements to financial assets resulting from the crediting of financial assets to a “securities account” (as
defined in Section 8-501(a) of the UCC), or in each case, the proceeds thereof or supporting obligations related thereto; 

(iv) (a) all Borrower Accounts which are not the subject of a “Cash Sweep” designation under the terms of the Account
Control Agreement will constitute “deposit accounts” under Section 9-102(a)(2) of the UCC, and (b) all Borrower Accounts which are the subject of a “Cash Sweep” designation under
the terms of the Accounts Control Agreement will either constitute a “deposit account” under Section 9-102(a)(2) of the UCC and/or a “securities account” under Section 8-501(a) of the UCC; 

  
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 (v) this Agreement creates a valid, continuing and, upon the filing of the
financing statement referred to in clause (vi) and execution of the Account Control Agreement, perfected security interest (as defined in Section 1-201(b)(35) of the UCC) in the Collateral in
favor of the Administrative Agent, for the benefit and security of the Secured Parties, which security interest is prior to all other liens (other than Permitted Liens), claims and encumbrances and is enforceable as such against creditors of and
purchasers from the Borrower; 
 (vi) with respect to Collateral that constitutes accounts or general intangibles, the
Borrower has caused or will have caused, on or prior to the Closing Date, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect the security interest
in the Collateral granted to the Administrative Agent, for the benefit and security of the Secured Parties, hereunder (which the Borrower hereby agrees may be an “all asset” filing); 

(vii) each Facility Receivable included in the calculation of the Borrowing Base as of any date is an Eligible Receivable as of
such date; and 
 (viii) each Facility Receivable constitutes an “eligible asset” under Rule 3a-7 promulgated under the Investment Company Act. 
 (s) Purchase Agreement. The Purchase
Agreement is the only agreement pursuant to which the Borrower purchases the Facility Receivables and the related Collateral, unless otherwise agreed to in writing by the Administrative Agent in its sole discretion. The Borrower has furnished to the
Administrative Agent a true, correct and complete copy of the Purchase Agreement. The purchase of the Facility Receivables by the Borrower under the Purchase Agreement is stated and intended to be a sale enforceable against creditors of the Seller;
provided, however, that, notwithstanding the intent of such parties, if a court of competent jurisdiction holds that the transactions evidenced thereby constitute a loan and not a purchase and sale, the Purchase Agreement is deemed to
be and is a security agreement under Applicable Law, and the conveyances provided for in such agreement shall be deemed to be a grant to the Borrower of a first priority security interest in and to all of the Seller’s right, title and interest,
whether now existing or hereafter acquired, in, to and under the assets conveyed thereby to secure all obligations from the Seller to the Borrower. The Purchase Agreement constitutes the legal, valid and binding obligation of the parties thereto,
enforceable against such parties in accordance with their respective terms, subject to the effect of any applicable bankruptcy, moratorium, insolvency, reorganization or other similar law affecting the enforceability of creditors’ rights
generally and to the effect of general principles of equity (whether in a proceeding at law or in equity). There is no provision in the Purchase Agreement that would restrict the ability of the Borrower to collaterally assign its rights thereunder
to the Administrative Agent, for the benefit of the Lenders. 
 (t) Deposit Accounts and Investment Property. Schedule 4
attached hereto lists all of the Borrower’s deposit accounts and investment property as of the Closing Date. 
 (u) Change of
Control. No Change of Control has occurred other than with the prior written consent of the Administrative Agent or in connection with a Permitted IPO. 

  
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 ARTICLE V 

COVENANTS 

Section 5.01 Affirmative Covenants. Each of the Borrower and the Seller, as applicable and with respect to itself, covenants and
agrees that, until the Final Maturity Date (and thereafter until the date that all Obligations have been paid in full (other than with respect to contingent indemnification obligations for which a claim has not yet been asserted)), the Borrower and
the Seller, as applicable and with respect to itself, shall perform all the covenants in this Section 5.01: 
 (a)
Compliance with Agreements, Laws, Etc. The Borrower shall (i) duly observe and comply in all material respects with all Applicable Laws relative to the conduct of its business or to its assets, including all consumer
lending, servicing and debt collection laws applicable to the Facility Receivables and its activities and obligations as contemplated by the Facility Documents, (ii) preserve and keep in full force and effect its legal existence,
(iii) preserve and keep in full force and effect its rights, privileges, qualifications and franchises (including all consumer lending, servicing and debt collection licenses or qualifications applicable to the Facility Receivable and its
activities contemplated by the Facility Documents), except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect and (iv) comply with the terms and conditions of each Facility Document and in all
material respects with its Constituent Documents to which it is a party. 
 (b) Financial Statements; Other Information. It shall
provide to the Administrative Agent or cause to be provided to the Administrative Agent: 
 (i) promptly after becoming
available and in any event within one hundred fifty (150) calendar days after the end of the 2020 fiscal year of the Parent and within one hundred twenty (120) calendar days after the end of fiscal year of the Parent, commencing with the
2021 fiscal year, the audited consolidated balance sheet of the Parent and its consolidated Subsidiaries and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in
comparative form the figures for the previous fiscal year, all reported on by independent public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or
exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Parent and its consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied; 
 (ii) promptly after becoming available and in any event
within forty-five (45) calendar days after the end of each fiscal quarter of each fiscal year of the Parent, commencing with the fiscal quarter ending June 30, 2020, the unaudited consolidated balance sheet for the Parent and its
consolidated Subsidiaries and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the
figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its senior financial officers as presenting fairly in all material respects the financial
condition and results of operations of the Parent and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; 

  
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 (iii) quarterly, within forty-five (45) calendar days following the end
of each fiscal quarter of each fiscal year of the Parent, a certificate of a Responsible Officer of the Borrower evidencing the calculation of the Tangible Net Worth, ratio of Total Liabilities to Tangible Net Worth and Liquidity, in each case, of
the Parent and its consolidated Subsidiaries; 
 (iv) monthly, within thirty (30) days following the end of each
calendar month, a certificate of a Responsible Officer of the Borrower showing estimated unaudited Liquidity of the Parent and its consolidated Subsidiaries, which calculation shall not consider certain reconciling items and therefore not be in
accordance with GAAP; 
 (v) promptly, and in any event within five (5) Business Days after a Responsible Officer of the
Borrower or the Seller obtains actual knowledge of the occurrence and continuance of any (1) Early Amortization Event, (2) Unmatured Event of Default, (3) Event of Default, (4) Unmatured Servicer Event of Default,
(5) Servicer Event of Default, (6) Level I Trigger Event or (7) Level II Trigger Event, a certificate of a Responsible Officer of the Borrower or the Seller, as applicable, in each case setting forth the details thereof and the action
which the Borrower and/or the Seller is taking or proposes to take with respect thereto; 
 (vi) from time to time, to the
extent material to the Administrative Agent’s and Lenders’ interest in the Facility Receivables, such additional information regarding the Borrower’s, the Seller’s or the Parent’s financial position or business and the
Collateral (including reasonably detailed calculations of the Borrowing Base Test, the Facility Delinquency Percentage, Managed Portfolio Delinquency and Extension Percentage, Monthly Payment Rate and the Excess Spread Percentage) as the
Administrative Agent or any Lender may reasonably request; 
 (vii) (i) promptly after the occurrence of any ERISA Event that
would reasonably be expected to result in a material liability to the Borrower, notice of such ERISA Event and copies of any communications with all Governmental Authorities or any Multiemployer Plan with respect to such ERISA Event, and
(ii) promptly after receipt of the same, copies of any notice from (x) the IRS of a Lien pursuant to Section 6323 of the Code with regard to any assets of the Borrower or (y) the PBGC of any notice of a Lien pursuant to
Section 4068 of ERISA with regard to any of the assets of the Borrower; 
 (viii) within five (5) Business Days
after a Responsible Officer of the Borrower or the Seller obtains actual knowledge thereof, written notice of the occurrence of the formal commencement by written notice by any Governmental Authority of any formal investigation, lawsuit or similar
adversarial proceeding against the Borrower, the Seller or the Servicer challenging its authority to originate, hold, own, service, collect or enforce any Facility Receivable, or otherwise alleging any material
non-compliance by the Borrower, the Seller, the Parent or the Servicer with any Applicable Laws restricting the ability of such Person to originate, hold, pledge, collect, service or enforce such Facility
Receivable; 

  
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 (ix) within five (5) Business Days after a Responsible Officer of the
Borrower or the Seller obtains actual knowledge thereof, written notice of the occurrence of the formal commencement by written notice by any Governmental Authority of any formal investigation, lawsuit or similar adversarial proceeding against the
Borrower, the Parent, the Seller, the Servicer or any of their respective Affiliates which, if adversely determined, would have a Material Adverse Effect on the Borrower, the Seller, the Parent, the Servicer or the Facility Receivables; 

(x) promptly following request of the Administrative Agent request, copies of all financial statements, settlement statements,
portfolio or other material reports, notice disclosures, certificates or other written materials delivered or made available to the Borrower, the Seller or the Parent by any Person pursuant to the Facility Documents; and 

(xi) such other information, documents, tapes, data, records or reports respecting the Collateral, the Borrower, the Seller,
the Parent, the Servicer or the Originator which is in its possession or under its control, as the Administrative Agent may from time to time reasonably request or that any Affected Person may reasonably require in order to comply with their
respective obligations under the Securitisation Regulations. 
 (c) Use of Proceeds. The Borrower shall use the proceeds of each
Advance made hereunder solely: 
 (i) to fund or pay the Purchase Price of the Facility Receivables acquired by the Borrower
pursuant to the Purchase Agreement and in accordance with the terms and conditions set forth herein or for general corporate purposes; 

(ii) to fund the Reserve Account on or prior to the Scheduled Revolving Period Termination Date to the extent the Reserve
Account is required to be funded pursuant to Section 8.03 (and the Borrower shall submit a Request for Advance requesting a Borrowing of Advances for a Borrowing Date falling no more than five and no less than one Business
Day prior to the Scheduled Revolving Period Termination Date with a Requested Amount sufficient to fully fund the Reserve Account under Section 8.03); 

(iii) to make distributions to the holders of the equity of the Borrower as permitted hereunder; and 

(iv) for such other legal and proper purposes as are consistent with all Applicable Laws. 

Without limiting the foregoing, it shall use the proceeds of each Advance in a manner that does not, directly or indirectly,
violate any provision of its Constituent Documents or any Applicable Law in any material respect. 

  
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 (d) Access to Records; Audit Rights. In each case subject to
Section 11.09 of this Agreement, each of the Borrower and the Seller shall permit the Administrative Agent (and its auditors) to (i) upon reasonable advance notice and during normal business hours, visit and inspect
and make copies at reasonable intervals of (A) its books, records and accounts relating to its business, financial condition, operations, assets, the Collateral and its performance under the Facility Documents and to discuss the foregoing with
representatives of the Borrower, and (B) any records directly related to the Facility Receivables and the ability to review and access any payment history with respect to the Facility Receivables it may have reasonable access to and
(ii) conduct evaluations and appraisals of the Borrower’s computation of the Borrowing Base and the assets included in the Borrowing Base and the components of the Monthly Reports (including cash receipt and application and calculation of
applicable ratios); provided, however, that, (1) prior to the occurrence and during the continuance of an Event of Default or Early Amortization Event, such rights described in the foregoing clauses (i) and
(ii) may only be exercised once during each one-year period following the Closing Date or (2) following the occurrence and during the continuance of an Event of Default or Early Amortization Event,
at any time at the Administrative Agent’s discretion. The Borrower shall pay the reasonable, documented fees and expenses of the Administrative Agent (and any auditors engaged by the Administrative Agent) to conduct any such evaluations or
appraisals; provided that such visits, evaluations or appraisals shall not be duplicative of any visits, audits evaluations or appraisals conducted in accordance with the terms of any other Facility Document. 

(e) Tax Matters. The Seller and the Borrower shall maintain the Borrower’s status as a disregarded entity for U.S. federal income
tax purposes and shall not take any (or fail to take any action) that would cause the Borrower to be treated as an association taxable as a corporation. 

(f) Collections. The Borrower shall, or shall cause the Servicer to, cause all Collections in respect of the Facility Receivables to
promptly, and in any event within two (2) Business Days after receipt and identification in the Collection Account. The Borrower has, or has caused the Servicer to, set up and maintain an automated process such that all Collections on Facility
Receivables will automatically transfer directly into the Collection Account once such funds are available for transfer pursuant to the Servicer’s procedures for processing collections. The Borrower shall ensure that no Person has been granted
dominion and control of the Collection Account, or the right to take dominion and control for purposes of the UCC of the Collection Account at a future time or upon the occurrence of a future event; provided, however, that nothing
herein shall be deemed to preclude the Borrower from granting the Servicer access to the Collection Account for so long as the Servicer is acting in such capacity hereunder for purposes consistent with the terms of this Agreement. 

(g) Servicing; Backup Servicer. 

(i) The Borrower shall promptly provide (or require the Servicer to promptly provide) the Administrative Agent with true and
complete copies of all material notices, reports, statements and other documents sent or received by the Servicer. The Borrower shall require the Servicer to service all Facility Receivables in accordance with the terms hereof. 

(ii) The Borrower agrees not to, and will require the Servicer not to, interfere with the Backup Servicer’s performance of
its duties under the Backup Servicing Agreement or to take any action that would be in breach in any material respect in any way 

  
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of the terms of the Backup Servicing Agreement. The Borrower covenants and agrees to, and will require the Servicer to, provide any and all information and data reasonably requested by the
Administrative Agent that is available to the Borrower to be provided promptly to the Backup Servicer in order to allow the Backup Servicer to perform its obligations under the applicable Backup Servicing Agreement in the manner and form reasonably
requested by the Administrative Agent. Upon the occurrence and continuance of any Servicer Event of Default, the Administrative Agent shall have the right to immediately substitute the Servicer with (1) the Backup Servicer or (2) with the
consent of the Borrower (such consent not to be unreasonably conditioned or delayed) if no Event of Default has occurred and is continuing, any third-party servicer acceptable to the Administrative Agent or (3) if an Event of Default has
occurred and is continuing, any third-party servicer acceptable to the Administrative Agent in its reasonable discretion, in each case, in all of the Servicer’s roles and functions as contemplated by the Facility Documents and upon and after
such substitution, such Person shall be entitled to receive the applicable Servicing Fee. 
 (h) Changes to Concierge Capital
Underwriting Policy, Accepted Collections Policies or Accepted Servicing Policies. 
 (i) The Borrower will not make,
authorize, consent to or suffer to exist any material amendment, modification, supplement or waiver to the Concierge Capital Underwriting Policy, Accepted Collection Policies or the Accepted Servicing Policies without the prior written consent of
the Administrative Agent; provided, that (1) if the Borrower has not received a written response from the Administrative Agent within five (5) Business Days following the Administrative Agent’s receipt of a notice of any such
material amendment, modification, supplement or waiver, the Administrative Agent shall be deemed to have approved such material amendment, modification, supplement or waiver and (2) if the Administrative Agent determines the proposed amendment,
modification, supplement or waiver is material and adverse to the interests of the Administrative Agent and the other Secured Parties, the Administrative Agent shall notify the Borrower of such determination within five (5) Business Days
following the Administrative Agent’s receipt of notice of such material amendment, modification, supplement or waiver and within an additional five (5) Business Days (which time period may be extended by mutual agreement of the Borrower
and the Administrative Agent via electronic means) the Administrative Agent shall either provide written consent to such amendment, modification, supplement or waiver or written notice that such amendment, modification, supplement or waiver is not
permitted; provided, further, that, notwithstanding the foregoing, if the Borrower reasonable believes that such material amendment, modification, supplement or waiver will be adverse to the interests of the Administrative Agent or the
other Secured Parties, the Borrower will need the explicit written consent of the Administrative Agent prior to implementing such material amendment, modification, supplement or waiver. 

(ii) The Borrower shall provide written notice to the Administrative Agent of any
non-material amendment, modification, supplement or waiver to the Concierge Capital Underwriting Policy or the Accepted Servicing Policies at least three (3) Business Days prior to the implementation of
any such amendment, modification, supplement or waiver to, unless such amendment, modification, supplement or waiver is made solely to correct non-material ministerial or typographical errors. 

  
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 (iii) Notwithstanding the foregoing, for the avoidance of doubt, nothing in
the Facility Documents or otherwise shall prohibit the Seller from making any amendments, modifications or other changes to the Concierge Capital Underwriting Policy, provided that the Borrower shall not purchase any Facility Receivables
originated under such amended or modified Concierge Capital Underwriting Policy unless and until Administrative Agent has provided its written consent to such changes to the extent such consent is required pursuant to this clause (h). 

(i) Account Bank. 

(i) If at any time the Account Bank shall fail to have any of the applicable minimum ratings specified in the definition of
“Account Bank”, it shall move the applicable accounts to an Account Bank which satisfies the ratings requirements within 30 days of knowledge or notice of such failure. 

Section 5.02 Negative Covenants. The Borrower covenants and agrees that, until the Final Maturity Date (and thereafter until the
date that all Obligations have been paid in full (other than with respect to contingent indemnification obligations for which a claim has not yet been made)), the Borrower shall perform all covenants in this Section 5.02:

 (a) Restrictive Agreements. It shall not enter into or suffer to exist or become effective any agreement that prohibits, limits or
imposes any condition upon its ability to create, incur, assume or suffer to exist any Lien (other than Permitted Liens) upon any of its property or revenues constituting Collateral, whether now owned or hereafter acquired, to secure its obligations
under the Facility Documents other than this Agreement and the other Facility Documents. 
 (b) Liquidation; Merger; Sale of
Collateral. It shall not consummate any plan of liquidation, dissolution, partial liquidation, merger or consolidation (or suffer any liquidation, dissolution or partial liquidation) nor sell, transfer, exchange or otherwise dispose of any of
its assets, or enter into an agreement or commitment to do so or enter into or engage in any business with respect to any part of its assets, except as expressly permitted by this Agreement and the other Facility Documents (including in connection
with the repayment in full of the Obligations (other than with respect to contingent indemnification obligations)). 
 (c) Amendments to
Documents, etc. Without the written consent of the Administrative Agent, (i) it shall not materially amend or modify, or take any action inconsistent with, its Constituent Documents, and (ii) unless otherwise specified in the
Facility Documents, it will not amend, modify or waive any term or provision in any Facility Document (other than in accordance with the terms thereof). 

(d) ERISA. It shall not establish any Plan or Multiemployer Plan. 

(e) Liens. It shall not create, assume or suffer to exist any Lien on any of its assets now owned or hereafter acquired by it at any
time, except for Permitted Liens or as otherwise expressly permitted by this Agreement and the other Facility Documents. 

  
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 (f) Margin Requirements. It shall not (i) extend credit to others for the
purpose of buying or carrying any Margin Stock in such a manner as to violate Regulation T or Regulation U or (ii) use all or any part of the proceeds of any Advance, whether directly or indirectly, and whether immediately, incidentally or
ultimately, for any purpose that violates the provisions of the Regulations of the Board of Governors, including, to the extent applicable, Regulation U and Regulation X. 

(g) Restricted Payments. It shall not make, directly or indirectly, any Restricted Payment (whether in the form of cash or other
assets) or incur any obligation (contingent or otherwise) to do so; provided, however, that the Borrower (i) shall be permitted to make Restricted Payments from funds distributed to it pursuant to the Priority of Payments and
(ii) shall be permitted to make dividends-in-kind in the form of Facility Receivables in full or partial satisfaction of the purchase price thereof payable by the
Seller in connection with Permitted Asset Sales. 
 (h) Changes to Filing Information. It shall not change its name or its
jurisdiction of organization from that referred to in Section 4.01(a), unless it gives thirty (30) days’ prior written notice to the Administrative Agent and takes all actions reasonably necessary to protect and
perfect the Administrative Agent’s perfected security interest in the Collateral and shall promptly file appropriate amendments to all previously filed financing statements and continuation statements that are necessary to perfect the security
interests of the Administrative Agent under this Agreement under each method of perfection required herein with respect to the Collateral (and shall provide copy of such amendments to the Administrative Agent). 

(i) Transactions with Affiliates. It shall not sell, lease or otherwise transfer any property or assets to (other than in accordance
with the terms of the Facility Documents), or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates (including sales of Defaulted Receivables and other Facility
Receivables) except as expressly contemplated by this Agreement and the other Facility Documents, unless such transaction is upon terms substantially less favorable to the Borrower than it would reasonably expected to obtain in a comparable
arm’s length transaction with a Person that is not an Affiliate. 
 (j) Investment Company Restriction. It shall not become
required to register as an “investment company” under the Investment Company Act. 
 (k) Sanctions. It shall not utilize
directly or, to its knowledge indirectly use the proceeds of any Advance for the benefit of any Sanctioned Person and it shall maintain internal controls and procedures reasonably designed to promote its continued compliance with the applicable
provisions of Sanctions. 
 (l) Sale of Facility Receivables. It shall not sell any Facility Receivable unless (i) such Facility
Receivable is a Repurchased Receivable required to be repurchased pursuant to the terms of the Purchase Agreement, or (ii) so long as no Early Amortization Event, Unmatured Event of Default or Event of Default exists before or after giving
effect to such sale and transfer, such Facility Receivable is sold in a Permitted Asset Sale. 

  
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 (m) Indebtedness; Guarantees; Securities; Other Assets. It shall not incur or assume
or guarantee any indebtedness, obligations (including contingent obligations) or other liabilities, or issue any additional securities, whether debt or equity, in each case other than (i) pursuant to or as expressly permitted by this Agreement
and the other Facility Documents, (ii) obligations under its Constituent Documents, and (iii) pursuant to customary indemnification and expense reimbursement and similar provisions under the Related Documents. It shall not acquire any
Facility Receivables or other property other than as expressly permitted hereunder and pursuant to the Purchase Agreement. 
 (n)
Validity of this Agreement. It shall not (i) permit the validity or effectiveness of this Agreement or any grant of a security interest in the Collateral hereunder to be impaired, or permit the Liens granted pursuant to this Agreement to
be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants or obligations with respect to this Agreement and (ii) except as permitted by this Agreement, take any action that would
permit the Lien of this Agreement not to constitute a valid first priority security interest in the Collateral (subject to Permitted Liens). 

(o) Subsidiaries. It shall not have or permit the formation of any subsidiaries. 

(p) Name. It shall not conduct business under any name other than its own. 

(q) Employees. It shall not have any employees (other than officers and directors to the extent they are employees). 

(r) Non-Petition. It shall not be party to any agreements (other than the Facility Documents)
under which it has any material obligations or liability (direct or contingent) without using commercially reasonable efforts to include customary “non-petition” and “limited recourse”
provisions therein (and shall not amend or eliminate such provisions in any agreement to which it is party). 
 (s) Certificated
Securities. It shall not acquire or hold any certificated securities in bearer form (other than securities not required to be in registered form under Section 163(f)(2)(A) of the Code) in a manner that does not satisfy the requirements of
United States Treasury Regulations section 1.165 12(c) (as determined by the Seller). 
 (t) Accounts. It shall not assign or grant
an interest in any rights it may have in the Reserve Account or the Collection Account to any Person other than the Administrative Agent. 

(u) Enforcement. It shall not take any action, and will use commercially reasonable efforts not to permit any action to be taken by
others, that would release any Person from any of such Person’s covenants or obligations under any instrument included in the Collateral, except as permitted under the Servicing Agreement. 

(v) No Other Business. It shall not engage (i) in any activity or take any other action that would cause it to be subject to U.S.
Federal, state or local income tax on a net income basis or (ii) in any business or activity, in each case other than pursuant to the Facility Documents, originating, funding, acquiring, owning, holding, administering, selling, enforcing,
lending, exchanging, redeeming, pledging, contracting for the management of and otherwise dealing with 

  
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Facility Receivables and the other Collateral in connection therewith and entering into the Facility Documents, any applicable Related Documents and any other agreements contemplated by (or
necessary to perform under) this Agreement and any activities reasonably related to the foregoing (and consistent with clause (i)). 
 (w)
No Claims Against Advances. Subject to Applicable Law, it shall not claim any credit on, make any deduction from, or dispute the enforceability of payment of the principal or interest payable (or any other amount) in respect of the Advances
or assert any claim against any present or future Lender, by reason of the payment of any taxes levied or assessed upon any part of the Collateral. 

(x) Independent Director. It shall not fail at any time to have at least one Independent Director which is not and has not been for at
least three (3) years, either (a) a shareholder (or other equity owner) of, or an officer, director, partner, manager, member (other than as a special member in the case of single member Delaware limited liability companies), employee,
attorney or counsel of, the Borrower or any of its Affiliates, (b) a customer or creditor of, or supplier to, the Borrower or any of its Affiliates who derives any of its purchases or revenue from its activities with the Borrower or any
Affiliate thereof (other than a de minimis amount), (c) a person who controls or is under common control with any such officer, director, partner, manager, member, employee, supplier, creditor or customer, or (d) a member of the immediate
family of any such officer, director, partner, manager, member, employee, supplier, creditor or customer; provided, that (1) the foregoing subclause (a) shall not apply to any Person who serves, or has served, as an independent
director or an independent manager for any Affiliate of the Borrower; (2) upon the death or incapacity of such Independent Director, the Borrower will have a period of ten (10) Business Days following such event to appoint a replacement
Independent Director; (3) the Borrower shall use commercially reasonable efforts to cause the Independent Director not to resign until a replacement independent director has been appointed; and (4) before any Independent Director is
replaced, removed, resigns or otherwise ceases to serve (for any reason other than the death or incapacity of such Independent Director), the Borrower shall provide written notice to the Administrative Agent no later than two (2) Business Days
prior to such replacement, removal or effective date of cessation of service and of the identity and affiliations of the proposed replacement Independent Director. 

Section 5.03 Certain Undertakings Relating to Separateness. Without limiting any, and subject to all, other covenants of the
Borrower contained in this Agreement, the Borrower shall conduct its business and operations separate and apart from that of any other Person (including the Seller and any of its Affiliates, and the holders of the Equity Interests of the Seller and
their respective Affiliates) and in furtherance of the foregoing: 
 (a) The Borrower shall maintain its accounts, financial statements,
books, accounting and other records, and other Borrower documents separate from those of any other Person, provided that the Borrower may be consolidated into the Seller or other Affiliate solely for tax and accounting purposes. 

(b) The Borrower shall not commingle or pool any of its funds or assets with those of any Affiliate or any other Person, and it shall hold all
of its assets in its own name, in each case except as otherwise permitted, contemplated or required by the terms of the Facility Documents. 

  
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 (c) The Borrower shall conduct its own business in its own name and, for all purposes, shall
not operate, or purport to operate, collectively as a single or consolidated business entity with respect to any Person. 
 (d) The Borrower
shall pay its own debts, liabilities and expenses (including overhead expenses, if any) only out of its own assets as the same shall become due; provided, that such expenses may be settled by an intercompany administrative payment of $50,000
annually or such other amount agreed by the Borrower and the Seller; provided, further, that the Seller may pay certain start-up and related upfront expenses in connection with the establishment
of the Facility Documents on behalf of the Borrower. 
 (e) The Borrower has observed, and shall observe (A) organizational formalities
to the extent necessary or advisable to preserve its separate existence, and shall preserve its existence, and it shall not, nor shall it permit any Affiliate or any other Person to, amend, modify or otherwise change the limited liability company
agreement of the Borrower in a manner that would adversely affect the existence of the Borrower as a bankruptcy remote special-purpose entity. 

(f) The Borrower shall not (A) guarantee, become obligated for, or hold itself or its credit out to be responsible for or available to
satisfy, the debts or obligations of any other Person or (B) control the decisions or actions respecting the daily business or affairs of any other Person except as permitted by or pursuant to the Facility Documents. 

(g) The Borrower shall, at all times, hold itself out to the public as a legal entity separate and distinct from any other Person;
provided that the assets of the Borrower may be consolidated into the Seller for accounting purposes and included in publicly filed financial statements of the Seller. 

(h) The Borrower shall not identify itself as a division of any other Person. 

(i) The Borrower shall maintain its assets in such a manner that it will not be costly or difficult to segregate, ascertain or identify its
individual assets from those of any Affiliate or any other Person. 
 (j) The Borrower shall not use its separate existence to perpetrate a
fraud in violation of Applicable Law. 
 (k) The Borrower shall not, in connection with the Facility Documents, act with an intent to
hinder, delay or defraud any of its creditors in violation of Applicable Law. 
 (l) The Borrower shall maintain an arm’s length
relationship with its Affiliates, the Seller, the Parent and the Servicer. 
 (m) Except as permitted by or pursuant to the Facility
Documents, the Borrower shall not grant a security interest or otherwise pledge its assets for the benefit of any other Person. 
 (n)
Except as provided in the Facility Documents, the Borrower shall not acquire any securities or debt instruments of the Seller, its Affiliates or any other Person. 

  
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 (o) The Borrower shall not make loans or advances to any Person, except as permitted by or
pursuant to the Facility Documents. 
 (p) The Borrower shall make no transfer of its assets except as permitted by or pursuant to the
Facility Documents. 
 (q) The Borrower shall correct any known misunderstanding regarding its separate identity. 

(r) The Borrower shall maintain adequate capital in light of its contemplated business operations. 

(s) The Borrower shall at all times be organized as a special-purpose entity with organizational documents substantially similar to those in
effect on the Closing Date. 
 (t) The Borrower shall at all times conduct its business so that any assumptions made with respect to the
Borrower in any “substantive non-consolidation” opinion letter delivered in connection with the Facility Documents will continue to be true and correct in all respects. 

ARTICLE VI 
 EVENTS OF
DEFAULT 
 Section 6.01 Events of Default. “Event of Default”, wherever used herein, means any one of the
following events: 
 (a) (i) a default by the Borrower in the payment, when due and payable, of any interest or principal (including any
mandatory prepayment under Section 2.05(b)) or (ii) the Borrower or the Seller, as applicable, shall fail to make any other payment, transfer or deposit (unless waived by the Administrative Agent) on the date first
required of such party under this Agreement or the other Facility Documents or the Parent shall fail to make any payment under the Performance Guaranty and, in each case, such default or failure shall remain uncured for five (5) Business Days
following receipt of written notice by the Borrower, the Seller or the Parent (which may be by email) of such default or failure from the Administrative Agent; or 

(b) the failure to reduce the Advances to $0 on the Final Maturity Date; or 

(c) except as otherwise provided in this Section 6.01, a default in any material respect in the performance, or
breach in any material respect, of any covenant, obligation or agreement of the Borrower or the Seller under the Facility Documents and such default or breach shall remain uncured (to the extent such default or breach may be cured) for a period in
excess of thirty (30) days after the earlier of (i) receipt of written notice by the Borrower, the Seller or the Parent (which may be by email) of such default from the Administrative Agent and (ii) actual knowledge of the Borrower or
the Seller; or 

  
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 (d) the failure of any representation, warranty, certification or other statement made or
deemed made by the Borrower or the Seller in any Facility Document to be correct in each case in all material respects when the same shall have been made and such failure shall remain uncured (to the extent such failure may be cured) for a period in
excess of thirty (30) calendar days after the earlier of (i) receipt of written notice by the Borrower or the Seller (which may be by email) of such failure from the Administrative Agent and (ii) actual knowledge of the Borrower, the
Seller or the Parent; provided that, for the avoidance of doubt, the repurchase of or substitution for any Repurchased Receivable by the Seller, or other cure of such Repurchased Receivable in accordance with the terms of the Purchase
Agreement and this Agreement, as applicable, shall be deemed to cure the failure of any Facility Receivable to be an Eligible Receivable at the time it was acquired by the Borrower; or 

(e) any failure by the Borrower and Seller to deliver a Monthly Report by the related Monthly Reporting Date and such failure is not cured
within five (5) Business Days of such Monthly Reporting Date; or 
 (f) An Insolvency Event shall have occurred with respect to the
Borrower, the Seller or the Parent; or 
 (g) the occurrence of a Change of Control not otherwise consented to by the Administrative Agent,
other than in connection with a Permitted IPO; or 
 (h) any action or inaction of the Borrower or the Seller causes any Lien securing any
obligation of the Borrower or the Seller under the Facility Documents to, in whole or in part, cease to be a valid and enforceable first priority perfected Lien (subject to Permitted Liens) on any material portion of the Collateral and such
cessation remains unremedied for five (5) Business Days; provided, that, any affirmative action taken by the Administrative Agent to release such Lien shall not constitute an Event of Default hereunder; or 

(i) the Borrowing Base Test is not satisfied and such condition is not cured within five (5) Business Days following (i) a
Responsible Officer of the Borrower or the Seller obtaining actual knowledge thereof or (ii) receipt of written notice by the Borrower or the Seller (which may be by email) of such condition from the Administrative Agent; or 

(j) the Borrower is required to be registered under the Investment Company Act or the Borrower becomes controlled by an entity that is
required to register as an “investment company” under the Investment Company Act; or 
 (k) the Borrower shall have become taxable
as an association or a publicly traded partnership taxable as a corporation under the Code; or 
 (l) (i) any material portion of any
Facility Document shall terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of the parties thereto (other than in accordance with its terms) or (ii) the Borrower, the Seller, the Parent or any
other party thereto shall, directly or indirectly, disaffirm or contest in any manner the effectiveness, validity, binding nature or enforceability or any Lien purported to be created thereunder; or 

(m) any event that constitutes a Servicer Event of Default shall have occurred and the Servicer has not been replaced by the Backup Servicer
(or another third-party servicer acceptable to the Administrative Agent) within thirty (30) days of termination of the Servicer; or 

  
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 (n) a Reserve Account Deficit exists for a period of more than two (2) Business Days
after giving effect to any deposits to be made into the Reserve Account from Collections received during such period pursuant to Section 9.01; or 

(o) (i) one or more final non-appealable judgments shall be entered against, or settlements by, the
Seller or any of its Subsidiaries (other than the Borrower) by a court of competent jurisdiction assessing monetary damages in excess of $5,000,000 in the aggregate and such amount is not discharged, paid or stayed within thirty (30) calendar
days or (ii) one or more judgments for the payment of $100,000 or more shall be entered against the Borrower and such amount is not discharged, paid or stayed within thirty (30) calendar days; or 

(p) the Performance Guaranty shall cease to be in full force and effect (other than in accordance with its terms) or the Performance Guarantor
shall assert that it is not bound by, or otherwise seek to terminate or disaffirm its obligations under the Performance Guaranty or shall otherwise claim that the Performance Guaranty is in any way invalid or unenforceable. 

Notwithstanding the foregoing, there will be no Event of Default where an Event of Default would otherwise exist under clauses (a), (b), (c)
or (e) above for an additional period of days mutually agreeable to the Borrower and the Administrative Agent if the delay or failure giving rise to such Event of Default was caused by acts of God, strikes, lockouts, riots, acts of war,
epidemics, governmental regulations imposed after the fact, fire, communication line failures, computer viruses, power failures, earthquakes, other disasters or other similar occurrence. 

Section 6.02 Remedies upon an Event of Default. 

(a) Upon a Responsible Officer of the Borrower obtaining actual knowledge of the occurrence of an Early Amortization Event, Unmatured Event of
Default or an Event of Default, the Borrower shall notify the Servicer, the Administrative Agent within five (5) Business Days, specifying the specific Early Amortization Event(s), Unmatured Event(s) of Default or Event(s) of Default that
occurred as well as all other Events of Default that are then known to be continuing. 
 (b) Upon the occurrence and during the continuance
of any Event of Default, in addition to all rights and remedies specified in this Agreement and the other Facility Documents, including Article VII, and the rights and remedies of a secured party under Applicable Law, including the UCC, the
Administrative Agent or the Majority Lenders, by notice to the Borrower, may do any one or more of the following: (1) declare the Commitments to be terminated, and/or (2) declare the principal of and the accrued interest on the Advances
and all other amounts whatsoever payable by the Borrower hereunder to be forthwith due and payable, whereupon such amounts shall be immediately due and payable without presentment, demand, protest or other formalities of any kind, all of which are
hereby waived by the Borrower; provided that, upon the occurrence of any Event of Default described in clause (f) of Section 6.01, the Commitments shall automatically terminate and the Advances and all
such other amounts shall automatically become due and payable, without any further action by any party. 
 (c) Upon the occurrence and
during the continuance of an Event of Default, following written notice by the Administrative Agent (provided in its sole discretion or at the direction of the Majority Lenders) of the exercise of control rights with respect to the Collateral:
(x) the Borrower’s unilateral power to direct the acquisition, sales and other dispositions of Facility Receivables will be immediately suspended and (y) the Borrower shall, or shall cause an Affiliate, to acquire, sell or otherwise
dispose of any Facility Receivable as directed by the Administrative Agent in its sole discretion. 

  
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 Section 6.03 Servicer Events of Default. 

(a) Upon a Responsible Officer of the Borrower obtaining actual knowledge of the occurrence of an Unmatured Servicer Event of Default or a
Servicer Event of Default, the Borrower shall provide notice of such occurrence to the Administrative Agent promptly thereafter, specifying the specific an Unmatured Servicer Event(s) of Default or Servicer Event(s) of Default that occurred as well
as all other an Unmatured Servicer Event(s) of Default or Servicer Events of Default that are then known to be continuing. 
 (b) In
accordance with Section 4.01 of the Servicing Agreement, upon the occurrence and during the continuance of a Servicer Event of Default, the Administrative Agent, by written notice to the Servicer (with a copy to the Borrower, the Seller and the
Backup Servicer) (a “Servicer Termination Notice”), may terminate all of the rights and obligations of the Servicer in accordance with the terms of the Servicing Agreement. 

ARTICLE VII 
 PLEDGE OF
COLLATERAL; RIGHTS OF THE ADMINISTRATIVE AGENT 
 Section 7.01 Grant of Security. 

(a) The Borrower hereby grants, pledges, transfers and collaterally assigns to the Administrative Agent, for the benefit of the Secured
Parties, as collateral security for all Obligations, a continuing security interest in, and a Lien upon, all of the Borrower’s right, title and interest in, to and under, the following property, in each case whether tangible or intangible,
wheresoever located, and whether now owned or hereafter acquired and whether now existing or hereafter coming into existence (all of the property described in this Section 7.01(a) being collectively referred to herein as
the “Collateral”): 
 (i) all Facility Receivables and Related Documents, both now and hereafter owned,
including all Collections and other proceeds thereon or with respect thereto; 
 (ii) the Collection Account and all Cash and
Eligible Investments on deposit therein and the Reserve Account and all Cash and Eligible Investments on deposit therein; 

(iii) each Facility Document and all rights, remedies, powers, privileges and claims under or in respect thereto (whether
arising pursuant to the terms thereof or otherwise available to the Borrower at law or equity), including the right to enforce each such Facility Document and to give or withhold any and all consents, requests, notices, directions, approvals,
extensions or waivers under or with respect thereto, to the same extent as the Borrower could but for the assignment and security interest granted to the Administrative Agent under this Agreement; 

  
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 (iv) all accounts, chattel paper, deposit accounts, financial assets,
general intangibles, instruments, investment property and letter of credit rights of the Borrower whether or not relating to the foregoing (in each case as defined in the UCC); 

(v) all other property of the Borrower and all property of the Borrower which is delivered to the Administrative Agent (or any
custodian on its behalf) by or on behalf of the Borrower or held by any party by or on behalf of the Borrower; 
 (vi) all
security interests, liens, collateral, property, guaranties, supporting obligations, insurance and other agreements or arrangements of whatever character from time to time supporting or securing payment of the assets, investments and properties
described above; and 
 (vii) all Proceeds of any and all of the foregoing. 

(b) All terms used in this Section 7.01 that are defined in the UCC but are not defined in
Section 1.01 shall have the respective meanings assigned to such terms in the UCC. 
 Section 7.02 Release
of Security Interest. Liens granted to the Administrative Agent for the benefit of the Secured Parties on any Collateral shall be automatically released (i) if and only if all Obligations have been paid in full and all Commitments have been
terminated (other than with respect to contingent indemnification obligations for which a claim has not yet been made) or (ii) upon the sale or disposition of the applicable Collateral by the Borrower in compliance with the terms and conditions
of this Agreement and, in each case, the Administrative Agent (for itself and on behalf of the other Secured Parties) shall, at the expense of the Borrower, promptly execute, deliver and file or authorize for filing such instruments as the Borrower
shall reasonably request in order to reassign, release or terminate the Secured Parties’ security interest in the applicable Collateral. Any and all actions under this Article VII in respect of the Collateral shall be without any recourse to,
or representation or warranty by any Secured Party and shall be at the sole cost and expense of the Borrower. 
 Section 7.03 Rights
and Remedies. The Administrative Agent (for itself and on behalf of the other Secured Parties) shall have all of the rights and remedies of a secured party under the UCC and other Applicable Law. Upon the occurrence and during the continuance of
an Event of Default, the Administrative Agent may (i) instruct the Borrower to deliver any or all of the Collateral, the Related Documents and any other documents relating to the Collateral to the Administrative Agent or its designees and
otherwise give all instructions for the Borrower regarding the Collateral; (ii) sell or otherwise dispose of the Collateral in a commercially reasonable manner, all without judicial process or proceedings; (iii) take control of the
Proceeds of any such Collateral; (iv) subject to the provisions of the applicable Related Documents, exercise any consensual or voting rights in respect of the Collateral; (v) release, make extensions, discharges, exchanges or
substitutions for, or surrender all or any part of the Collateral; (vi) enforce the Borrower’s rights and remedies with respect to the Collateral; (vii) institute and prosecute legal and equitable proceedings to enforce collection of,
or realize upon, any of the Collateral; (viii) require that the Borrower immediately take all actions necessary to cause the liquidation of the Collateral in order to pay all amounts due and payable in respect of the Obligations, in accordance
with the terms of the Related Documents; (ix) redeem or withdraw or cause the Borrower to redeem 

  
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or withdraw any asset of the Borrower to pay amounts due and payable in respect of the Obligations; (x) make copies of or, if necessary, remove from the Borrower’s, the Seller’s
and their respective agents’ (including custodian’s) place of business all books, records and documents relating to the Collateral; and (xi) endorse the name of the Borrower upon any items of payment relating to the Collateral or upon
any proof of claim in bankruptcy against an account debtor. 
 The Borrower hereby agrees that, upon the occurrence and during the
continuance of an Event of Default, at the request of the Administrative Agent, it shall execute all documents and agreements which are necessary or appropriate to have the Collateral to be assigned to the Administrative Agent or its designee. For
purposes of taking the actions described in clauses (i) through (xi) of the first paragraph this Section 7.03 the Borrower hereby irrevocably appoints the Administrative Agent as its attorney-in-fact (which appointment being coupled with an interest and is irrevocable while any of the Obligations remain unpaid, with power of substitution), in the name of
the Administrative Agent or in the name of the Borrower or otherwise, for the use and benefit of the Administrative Agent (for the benefit of the Secured Parties), but at the cost and expense of the Borrower and, except as prohibited by Applicable
Law, without notice to the Borrower. 
 Section 7.04 Remedies Cumulative. Each right, power, and remedy of the Administrative
Agent and the other Secured Parties, or any of them, as provided for in this Agreement or in the other Facility Documents or now or hereafter existing at law or in equity or by statute or otherwise shall be cumulative and concurrent and shall be in
addition to every other right, power, or remedy provided for in this Agreement or in the other Facility Documents or now or hereafter existing at law or in equity or by statute or otherwise, and the exercise or beginning of the exercise by the
Administrative Agent or any other Secured Party of any one or more of such rights, powers, or remedies shall not preclude the simultaneous or later exercise by such Persons of any or all such other rights, powers, or remedies. 

Section 7.05 Related Documents. 

(a) Each of the Borrower and the Seller hereby agrees that, to the extent not expressly prohibited by the terms of the Related Documents,
after the occurrence and during the continuance of an Event of Default, it shall (i) upon the written request of the Administrative Agent, promptly forward to the Administrative Agent and the Backup Servicer (or other successor servicer) all
material information and notices which it receives under or in connection with the Related Documents relating to the Collateral and (ii) upon the written request of the Administrative Agent, act and refrain from acting in respect of any
request, act, decision or vote under or in connection with the Related Documents relating to the Collateral only in accordance with the direction of the Administrative Agent. 

(b) The Borrower agrees that, to the extent the same shall be in the Borrower’s possession, it will hold all Related Documents relating
to the Collateral in trust for the Administrative Agent on behalf of the Secured Parties, and, upon request of the Administrative Agent following the occurrence and during the continuance of an Event of Default or as otherwise provided herein,
promptly deliver the same to the Administrative Agent or its designee (including the Backup Servicer). In addition, the Borrower shall cause the Servicer to deliver to the Backup Servicer an electronic file containing information relating to such
Facility Receivables, in accordance with the applicable terms of the Backup Servicing Agreement. 

  
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 Section 7.06 Borrower Remains Liable. 

(a) Notwithstanding anything herein to the contrary, (i) the Borrower shall remain liable under the contracts and agreements included in
and relating to the Collateral (including the Related Documents) to the extent set forth therein, and shall perform all of its duties and obligations under such contracts and agreements to the same extent as if this Agreement had not been executed,
and (ii) the exercise by any Secured Party of any of its rights hereunder shall not release the Borrower from any of its duties or obligations under any such contracts or agreements included in the Collateral. 

(b) No obligation or liability of the Borrower is intended to be assumed by the Administrative Agent or any other Secured Party under or as a
result of this Agreement or the other Facility Documents, and the transactions contemplated hereby and thereby, including under any Related Document or any other agreement or document that relates to the Collateral and, to the maximum extent
permitted under provisions of law, the Administrative Agent and the other Secured Parties expressly disclaim any such assumption. 

Section 7.07 Protection of Collateral. The Borrower shall from time to time execute and deliver all such supplements and
amendments hereto and file or authorize the filing of all such UCC-1 financing statements, continuation statements, instruments of further assurance and other instruments, and shall take such other action as
may be reasonably necessary or advisable or desirable to secure the rights and remedies of the Secured Parties hereunder and to: 
 (a)
grant security more effectively on all or any portion of the Collateral; 
 (b) maintain, preserve and perfect any grant of security made or
to be made by this Agreement including the first priority nature of the lien or carry out more effectively the purposes hereof (subject to Permitted Liens); 

(c) perfect, publish notice of or protect the validity of any grant made or to be made by this Agreement (including any and all actions
necessary or desirable as a result of changes in law or regulations); 
 (d) enforce any of the Collateral or other instruments or property
included in the Collateral; 
 (e) preserve title to the Collateral and defend title to the Collateral and the rights therein of the
Administrative Agent and the Secured Parties in the Collateral against the claims of all third parties; and 
 (f) pay or cause to be paid
any and all taxes levied or assessed upon all or any part of the Collateral. 

  
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 For so long as this Agreement remains in full force and effect, the Borrower hereby
designates the Administrative Agent as its agent and attorney-in-fact to prepare and file any UCC-1 financing statement, continuation statement and all other
instruments, and take all other actions, required pursuant to this Section 7.07. Such designation shall not impose upon the Administrative Agent, or release or diminish, the Borrower’s obligations under this
Section 7.07. The Borrower further authorizes and shall cause its counsel to file, without the Borrower’s signature, UCC-1 financing statements that names the Borrower as debtor
and the Administrative Agent as secured party and that describes “all assets in which the debtor now or hereafter has rights” or similar language as the Collateral in which the Administrative Agent has a grant of security hereunder and any
amendments or continuation statements that may be reasonably necessary or desirable. 
 ARTICLE VIII 

ACCOUNTS, ACCOUNTINGS AND RELEASES 

Section 8.01 Collection of Money. Except as otherwise expressly provided herein, the Administrative Agent may demand payment or
delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all Money and other property payable to or receivable by the Administrative Agent pursuant to this Agreement,
including all payments due on the Collateral, in accordance with the terms and conditions of such Collateral and the related Facility Documents. The Administrative Agent shall segregate and hold all such Money and property received by it in trust
for the Secured Parties and shall apply it as provided in this Agreement. Each Borrower Account shall be subject to the Account Control Agreement. Any Borrower Account may contain any number of subaccounts for the convenience of the Administrative
Agent for convenience in administering the Borrower Accounts or the Collateral. 
 Section 8.02 Collection Account. The Borrower
shall, on or prior to the Closing Date, establish at the Account Bank one or more accounts in the name “ Compass Concierge SPV I, LLC - Collection Account, subject to the lien of the Administrative Agent” or such other name as is
acceptable to the Administrative Agent, which shall be designated as the “Collection Account”. The Collection Account shall be subject to the Lien of the Administrative Agent and, from and after the initial Borrowing Date, the Collection
Account shall be maintained with the Account Bank and shall be subject to the Account Control Agreement. The Borrower shall deposit, or cause to be deposited, from time to time into the Collection Account, in accordance with the terms of this
Agreement, all Collections received with respect to a Facility Receivable from and including the initial Cutoff Date with respect to such Facility Receivable. All Monies deposited from time to time in the Collection Account pursuant to this
Agreement shall be held by the Borrower as part of the Collateral and shall be applied to the purposes herein provided. Prior to the Administrative Agent taking control of the Collection Account by delivery of a notice of exclusive control, except
as provided under the Facility Documents, the Borrower shall be the only party permitted to access such account. Unless an Event of Default shall have occurred and be continuing, the Administrative Agent agrees that it shall not exercise any right
under the Account Control Agreement to deliver any notice of exclusive control with respect to the Collection Account. 
 Section 8.03
The Reserve Account; Fundings. 
 (a) The Borrower shall, on or prior to the Closing Date, establish at the Account Bank one or more
accounts in the name “Compass Concierge SPV I, LLC - Reserve Account, subject to 

  
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the lien of the Administrative Agent”, or such other name as is acceptable to the Administrative Agent, which shall be designated as the “Reserve Account”. The Reserve Account
shall be subject to the Lien of the Administrative Agent and, from and after the initial Borrowing Date, the Reserve Account shall be maintained with the Account Bank and shall be the subject of the Account Control Agreement. The only permitted
deposits to or withdrawals from the Reserve Account shall be in accordance with the provisions of this Agreement. The Borrower shall not have any legal, equitable or beneficial interest in the Reserve Account other than in accordance with this
Agreement and the Priority of Payments. Prior to the Administrative Agent taking control of the Reserve Account by delivery of a notice of exclusive control, the Borrower shall be the only party permitted to access such account. Unless an Event of
Default shall have occurred and be continuing, the Administrative Agent agrees that it shall not exercise any right under the Account Control Agreement to deliver any notice of exclusive control with respect to the Reserve Account. 

The Borrower shall maintain at all times when there are Obligations outstanding hereunder an amount in the Reserve Account equal to the
Reserve Account Required Amount. On or prior to the Amortization Date, the Borrower shall request (and in the absence of such a request shall be deemed to have requested) a final Borrowing (subject to the conditions precedent to Borrowings set forth
in Section 3.02) in an amount sufficient to fund the Reserve Account Required Amount. 
 To the extent that the
aggregate amount of funds on deposit in the Reserve Account at any time exceeds the Reserve Account Required Amount, the Borrower may remit such excess to the Collection Account. In addition, following the occurrence and during the continuance of an
Event of Default, funds in the Reserve Account may be withdrawn by the Administrative Agent and deposited into the Collection Account. 

(b) In the event that there are not sufficient Collections or other available funds on any Payment Date to pay amounts which are due and owing
and which are to be paid pursuant to clauses (i) through (iii) of Section 9.01(a) on such date and after giving effect to any payments made pursuant to Section 9.01, the Borrower
shall withdraw from the Reserve Account the lesser of (A) the amount of such insufficiency, and (B) the Reserve Account Available Amount. The Borrower shall pay such amount (the “Reserve Account Withdrawal Amount”) from
the Reserve Account to the Collection Account to satisfy such insufficiency. 
 (c) To the extent that the Reserve Account Available Amount
together with the amount available in the Collection Account is sufficient to pay off all Obligations in full and all other amounts payable to the Administrative Agent and the Lenders under the Facility Documents in full when applied in accordance
with the Priority of Payments and to cause the Final Maturity Date to occur, the Borrower may, at its option, terminate the Commitments and use the funds on deposit in the Reserve Account and the Collection Account to be applied to all outstanding
amounts owing hereunder and under the other Facility Documents in accordance with the Priority of Payments with any remaining amounts distributed to the Borrower. 

Section 8.04 Accountings. The Borrower and the Seller shall compile and provide (or cause to be compiled and provided) a Monthly
Report (containing such information agreed upon by the Administrative Agent, the Borrower and the Seller) for the previous Collection Period no later than 2:00 p.m. (New York City time), on each Monthly Reporting Date to the Administrative Agent.
The Monthly Report delivered for any Collection Period shall contain the information with 

  
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respect to the Facility Receivables included in the Collateral set forth in Schedule 2 hereto (including a calculation of the Borrowing Base and the certifications required to be provided
by the Seller on a monthly basis pursuant to Section 11.23(f) of this Agreement), and shall be determined as of the last day of the Collection Period applicable to such Monthly Report. 

Section 8.05 Sale and Release of Facility Receivables. 

(a) Notwithstanding anything to the contrary in this agreement, without the consent of the Administrative Agent or any Lender and subject to
the satisfaction of the conditions set forth in this Section 8.05, (1) the Borrower may sell and transfer to the Originator or the Seller any Repurchased Receivable that the Seller is required to repurchase pursuant to the
terms of the Purchase Agreement, and (2) the Borrower may sell and transfer any Facility Receivable in a Permitted Asset Sale. As a condition of any such sale or transfer: 

(i) (x) in the case of a repurchase of a Repurchased Receivable, the Borrower shall deliver, in accordance with the terms
hereof, a Borrowing Base Certificate and updated Data File demonstrating pro forma compliance with the Borrowing Base Test and (y) in the case of any other Permitted Asset Sale, the Borrower shall deliver a written notice to the Administrative
Agent at least two (2) Business Day prior to the settlement date for any sale of such Facility Receivable and, as a condition to any such sale of a Facility Receivable, the Borrower shall deliver a certificate of a Responsible Officer of the
Borrower (or the Seller on its behalf) certifying that the sale of such Facility Receivable is a Permitted Asset Sale being made in accordance with the terms and conditions of this Agreement, and attaching an updated receivable schedule listing all
Facility Receivables owned by the Borrower after giving effect to such Permitted Asset Sale, together with an updated Borrowing Base Certificate containing the relevant information with respect to the Collateral calculated on a pro
forma basis after giving effect to such Permitted Asset Sale; and 
 (ii) the proceeds of any such sale and transfer of any
Facility Receivable shall be deposited directly into the Collection Account; provided, that no cash purchase price or related deposit to the Collection Account shall be required in connection with the sale and transfer of any Repurchased
Receivable or any Excess Concentration Receivable so long as (x) the Borrower shall be in compliance with the Borrowing Base Test both before and after giving effect to any such sale and transfer and (y) no Early Amortization Event,
Servicer Event of Default, Unmatured Servicer Event of Default, Unmatured Event of Default or Event of Default exists before or after giving effect to such sale and transfer. 

(b) Any Facility Receivable that is sold by the Borrower in accordance with the terms of this Agreement and (if applicable) the Purchase
Agreement shall automatically be released from the Lien of this Agreement, and the Administrative Agent is hereby authorized by each Lender to, review and approve such UCC-3 financing statements and executed
releases prepared by the Borrower and submitted to the Administrative Agent for authorization as are necessary or reasonably requested in writing by the Borrower to terminate and remove of record any documents constituting public notice of the
security interest in such sold Facility Receivables granted hereunder being released; provided, that the Borrower shall bear reasonable and documented out-of-pocket costs and expenses of the
Administrative Agent in connection with its review and approval of such UCC-3 financing statements and releases. 

  
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 (c) The Administrative Agent is hereby authorized by each Lender to, and shall, upon the
written request of the Borrower (or the Seller on its behalf), at such time as there are no Commitments outstanding and all Obligations of the Borrower hereunder and under the other Facility Documents have been satisfied (other than contingent
indemnification obligations for which a claim has not been asserted), review and approve such UCC-3 financing statements and, if necessary, executed releases prepared by the Borrower and submitted to the
Administrative Agent for authorization as are necessary or reasonably requested in writing by the Borrower to terminate and remove of record any documents constituting public notice of the security interest in such Collateral granted hereunder being
released; provided, that the Borrower shall bear reasonable and documented out-of-pocket costs and expenses of the Administrative Agent in connection with its
review and approval of such UCC-3 financing statements and releases. 
 Section 8.06
Borrower Account Details. The account number of each Borrower Account is set forth on Schedule 4 hereto. Amounts credited to the Borrower Accounts may be invested in Eligible Investments (i) for so long as no Event of Default is
then continuing, at the direction of the Borrower, and (ii) for so long as an Event of Default is continuing, at the direction of the Administrative Agent. Notwithstanding anything to the contrary contained in this Agreement or any Facility
Document, neither the Borrower nor the Administrative Agent shall direct, authorize or permit the investment of any amounts credited to the Borrower Accounts unless such investment is being made in an account thereof that is the subject of a
“Cash Sweep” designation under the terms of the Account Control Agreement. The Borrower and the Administrative Agent agree that any Borrower Account which is not the subject of a “Cash Sweep” designation under the terms of the
Account Control Agreement will for all purposes be a deposit account within the meaning of the applicable UCC. 
 ARTICLE IX 

APPLICATION OF MONIES 

Section 9.01 Disbursements of Monies. 

(a) Notwithstanding any other provision in this Agreement, but subject to the other subsections of this
Section 9.01, on each Payment Date, the Borrower shall disburse Collections received during the previous Collection Period in accordance with the following priorities (the “Priority of Payments”) and the
related Monthly Report: 
 (i) first, (1) to the Account Bank, the related Account Bank Fee, plus any such fees
not paid to the Account Bank when due on any prior Payment Date, plus any expense, indemnity or other amounts owing by the Borrower to the Account Bank under the Facility Documents (including any wire transfer fees or other banking fees owing to the
Account Bank), each to the extent accrued and unpaid through the last day of the related Collection Period until such accrued fees, expenses, indemnities and other amounts are paid in full; provided, however, that the aggregate amount
of expenses, indemnities and other amounts (excluding the Account Bank Fee) payable under this clause (1) shall not exceed $25,000 

  
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in any calendar year; provided, further, that after the occurrence and during the continuance of an Event of Default, such cap shall not apply and then (2) pro rata to the
Servicer and the Backup Servicer, the Servicing Fee (but excluding any Successor Servicing Excess Servicing Fee or Successor Servicing Transition Fee) and Backup Servicing Fee, plus any such fees not paid to the Servicer or the Backup Servicer when
due on any prior Payment Date, plus any expense, indemnity, reimbursements and other amounts owing by the Borrower to either of such parties under the Facility Documents, respectively, each to the extent accrued and unpaid through the last day of
the related Collection Period until such accrued fees, expenses, indemnities, reimbursements and other amounts are paid in full; provided, however, that the aggregate amount of expenses, indemnities and other amounts (excluding the
Servicing Fee and the Backup Servicing Fee) payable under this clause (2) shall not exceed $100,000 for each of the Servicer and the Backup Servicer in any calendar year; 

(ii) second, to the Administrative Agent, for distribution to each Lender, (1) to pay first, any accrued and unpaid
Interest payable on a prior Payment Date to the extent not paid in full on such prior Payment Date (including interest thereon at the rate used to calculate Interest for the previous Collection Period but excluding any Interest amounts attributable
to the Amortization Margin, if applicable) and (2) second, Unused Fees due each such Lender, with such Interest paid first with respect to the Advances and then Unused Fees; 

(iii) third, to the Administrative Agent, for distribution to each Lender, to pay, accrued and unpaid Interest on the
Advances due to such Lender for the previous Collection Period; 
 (iv) fourth, to the Administrative Agent, for
distribution to each Lender, on a pro rata basis, (1) prior to the occurrence and continuance of an Event of Default or an Early Amortization Event and prior to the end of the Revolving Period, if the Borrowing Base Test is not satisfied as of
the later of (x) the most recent Determination Date and (y) the Borrowing Base Calculation Date employed in the determination of a Borrowing Base Certificate delivered to the Administrative Agent in conjunction with a Borrowing Date, to
pay the principal of the Advances of each Lender (pro rata, based on each Lender’s Percentage) until the Borrowing Base Test is satisfied (on a pro forma basis as at the most recent Determination Date or such Borrowing Base Calculation Date, as
applicable), and (2) at any time following the end of the Revolving Period (regardless of the cause of the end of the Revolving Period and regardless of whether an Event of Default or an Early Amortization Event has occurred and is continuing)
and during the continuance of an Event of Default or an Early Amortization Event, to pay the Advances of each Lender (pro rata, based on each Lender’s Percentage) until paid in full; 

(v) fifth, to the Administrative Agent, for distribution to each Lender, any Interest amounts attributable to the
Amortization Margin, if any, accrued and unpaid and not otherwise paid pursuant to clause (ii) above; 
 (vi)
sixth, for deposit into the Reserve Account until the amounts on deposit therein are equal to the Reserve Account Required Amount; 

  
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 (vii) seventh, to pay, (A) to the Administrative Agent, for
distribution to each Lender, any Interest due and owing pursuant to this Agreement (including any accrued and unpaid Interest payable on a prior Payment Date (and interest thereon) to the extent not paid in full on such prior Payment Date) and any
accrued and unpaid fees and expenses of the Administrative Agent in connection with this Agreement and the other Facility Documents and (B) second, on a pro rata basis, accrued and unpaid amounts owing to Affected Persons (if any) under
Sections 2.09 and 11.03, and all other fees, expenses or indemnities owed to the Secured Parties or Indemnified Parties (including, following the expiration of the Revolving Period, any Interest accrued at the Amortization Margin);

 (viii) eighth, on a pro rata basis, based on amounts payable to each party pursuant to this clause (viii),
to the Account Bank, the Servicer and the Backup Servicer, any amounts due and payable to each such party which are in excess of any applicable cap on such amounts described in clause (i) (including, with respect to any successor Servicer,
any Successor Servicing Excess Servicing Fee or Successor Servicing Transition Fee); and 
 (ix) ninth, (i) if no
Unmatured Event of Default has occurred and is continuing, the remainder to or at the direction of the Borrower and (ii) otherwise, to the Collection Account. 

(b) If on any Payment Date the amount available in the Collection Account is insufficient to pay all amounts which are due and owing and which
are to be paid pursuant to clauses (i) through (iii) of Section 9.01(a), amounts on deposit in the Reserve Account may be transferred to the Collection Account to meet any shortfall and shall be disbursed in the
order and according to the priority set forth under Section 9.01(a) to the extent funds are available therefor. 

ARTICLE X 
 THE
ADMINISTRATIVE AGENT 
 Section 10.01 Authorization and Action. Each Lender hereby irrevocably appoints and authorizes the
Administrative Agent to take such action as agent on its behalf and to exercise such powers under this Agreement and, to the extent applicable, the other Facility Documents as are delegated to the Administrative Agent by the terms hereof and
thereof, together with such powers as are reasonably incidental thereto, subject to the terms hereof. The Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein or in the other Facility Documents,
or any fiduciary relationship with any Secured Party, and no implied covenants, functions, responsibilities, duties or obligations or liabilities on the part of the Administrative Agent shall be read into this Agreement or any other Facility
Document to which the Administrative Agent is a party (if any) as duties on its part to be performed or observed. As to any matters not expressly provided for by this Agreement or the other Facility Documents, the Administrative Agent shall not be
required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the written instructions of the Majority Lenders; provided that
the Administrative Agent shall not be required to take any action which exposes the Administrative Agent, in its judgment, to personal liability, cost or expense or which is contrary to this Agreement, the other Facility Documents or Applicable Law,
or would be, in its judgment, contrary to its duties 

  
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hereunder, under any other Facility Document or under Applicable Law. Each Lender agrees that in any instance in which the Facility Documents provide that the Administrative Agent’s consent
may not be unreasonably withheld, provide for the exercise of the Administrative Agent’s reasonable discretion, or provide to a similar effect, it shall not in its instructions (or, by refusing to provide instruction) to the Administrative
Agent withhold its consent or exercise its discretion in an unreasonable manner. 
 Section 10.02 Delegation of Duties. The
Administrative Agent may execute any of its duties under this Agreement and each other Facility Document by or through agents or attorneys-in-fact and shall be entitled
to advice of counsel concerning all matters pertaining to such duties. 
 Section 10.03 Agent’s Reliance, Etc. 

(a) Neither the Administrative Agent nor any of its directors, officers, agents or employees shall be liable for any action taken or omitted
to be taken by it or them under or in connection with this Agreement or any of the other Facility Documents, except for its or their own gross negligence or willful misconduct. Without limiting the generality of the foregoing, the Administrative
Agent: (i) may consult with legal counsel (including counsel for the Borrower, the Parent or the Servicer or any of their Affiliates) and independent public accountants and other experts selected by it with due care and shall not be liable for
any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or experts; (ii) makes no warranty or representation to any Secured Party or any other Person and shall not be responsible to
any Secured Party or any Person for any statements, warranties or representations (whether written or oral) made in or in connection with this Agreement or the other Facility Documents; (iii) shall not have any duty to monitor, ascertain or to
inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the other Facility Documents or any Related Documents on the part of the Borrower, the Parent or the Servicer or any other Person or to
inspect the property (including the books and records) of the Borrower, the Parent or the Servicer; (iv) shall not be responsible to any Secured Party or any other Person for the due execution, legality, validity, enforceability, genuineness,
sufficiency or value of any Collateral, this Agreement, the other Facility Documents, any Related Document or any other instrument or document furnished pursuant hereto or thereto or for the validity, perfection, priority or enforceability of the
Liens on the Collateral; and (v) shall incur no liability under or in respect of this Agreement or any other Facility Document by relying on, acting upon (or by refraining from action in reliance on) any notice, consent, certificate (including
for the avoidance of doubt, the Monthly Report), instruction or waiver, report, statement, opinion, direction or other instrument or writing (which may be delivered by telecopier, email, cable or telex, if acceptable to it) reasonably believed by it
to be genuine and believe by it to be signed or sent by the proper party or parties. The Administrative Agent shall not have any liability to the Borrower, the Parent or any Lender or any other Person for the Borrower’s, the Parent’s, the
Servicer’s or any Lender’s, as the case may be, performance of, or failure to perform, any of their respective obligations and duties under this Agreement or any other Facility Document. 

(b) Except as otherwise provided in this Agreement, the Administrative Agent shall not be liable for the actions or omissions of any other
agent (including concerning the application of funds), or under any duty to monitor or investigate compliance on the part of any other agent with the terms or requirements of this Agreement, any Facility Documents or any Related

  
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Documents, or their duties thereunder. The Administrative Agent shall be entitled to assume the due authority of any signatory and genuineness of any signature appearing on any instrument or
document it may receive (including each Request for Advance received hereunder). The Administrative Agent shall not be liable for any action taken in good faith and reasonably believed by it to be within the powers conferred upon it, or taken by it
pursuant to any direction or instruction by which it is governed, or omitted to be taken by it by reason of the lack of direction or instruction required hereby for such action (including for refusing to exercise discretion or for withholding its
consent in the absence of its receipt of, or resulting from a failure, delay or refusal on the part of the Majority Lenders to provide, written instruction to exercise such discretion or grant such consent from the Majority Lenders, as applicable).
Nothing herein or in any Facility Documents or Related Documents shall obligate the Administrative Agent to advance, expend or risk its own funds, or to take any action which in its reasonable judgment may cause it to incur any expense or financial
or other liability for which it is not adequately indemnified. The Administrative Agent shall not be liable for any indirect, special or consequential damages (included but not limited to lost profits) whatsoever, even if it has been informed of the
likelihood thereof and regardless of the form of action. The Administrative Agent shall not be charged with knowledge or notice of any matter unless actually known to a Responsible Officer of the Administrative Agent, or unless and to the extent
written notice of such matter is received by the Administrative Agent at its address in accordance with Section 11.02. Any permissive grant of power to the Administrative Agent hereunder shall not be construed to be a duty
to act. The Administrative Agent shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, entitlement order, approval or other
paper or document. The Administrative Agent shall not be liable for any error of judgment, or for any act done or step taken or omitted by it, in good faith, or for any mistakes of fact or law, or for anything that it may do or refrain from doing in
connection herewith unless it shall be proven by a court of competent jurisdiction that the Administrative Agent engaged in willful misconduct or was grossly negligent in the performance or omission of its duties. 

(c) The Administrative Agent shall not be responsible or liable for delays or failures in performance resulting from acts beyond its control.
Such acts shall include but not be limited to acts of God, strikes, lockouts, riots, acts of war, epidemics, governmental regulations imposed after the fact, fire, communication line failures, computer viruses, power failures, earthquakes or other
disasters. 
 Section 10.04 Indemnification. Each of the Lenders agrees to indemnify and hold harmless, on a pro rata basis
(based on Commitments or, if Commitments have been terminated, the Facility Receivables outstanding) the Administrative Agent and its officers, directors, employees, representatives and agents (to the extent not reimbursed by or on behalf of the
Borrower pursuant to Section 11.04 or otherwise) from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including reasonable and documented
attorney’s fees and expenses) or disbursements of any kind or nature whatsoever (including in connection with any investigative or threatened proceeding, whether or not the Administrative Agent is a party thereto) which may be imposed on,
incurred by, or asserted against the Administrative Agent in any way relating to or arising out of this Agreement or any other Facility Document or any Related Document or any action taken or omitted by the Administrative Agent under this Agreement
or any other Facility Document or any Related 

  
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Document; provided that no Lender shall be liable to the Administrative Agent for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses or disbursements resulting solely from the Administrative Agent’s gross negligence or willful misconduct. The rights of the Administrative Agent and obligations of the Lenders under or pursuant to this
Section 10.04 shall survive the termination of this Agreement, and the earlier removal or resignation of the Administrative Agent hereunder. 

Section 10.05 Successor Administrative Agent. Subject to the terms of this Section 10.05, the
Administrative Agent may, upon thirty (30) days’ notice to the Lenders and the Borrower, resign as Administrative Agent. If the Administrative Agent shall resign, then the Majority Lenders shall appoint a successor agent. If for any reason
a successor agent is not so appointed and does not accept such appointment within thirty (30) days of notice of resignation, the Administrative Agent may appoint a successor agent. The appointment of any successor Administrative Agent shall be
subject to the prior written consent of the Borrower (which consent shall not be unreasonably withheld or delayed); provided that the consent of the Borrower to any such appointment shall not be required if (i) an Event of Default shall have
occurred and is continuing or, (ii) if such successor Administrative Agent is a Lender or an Affiliate of the Administrative Agent or any Lender. Any resignation of the Administrative Agent shall be effective upon the appointment of a successor
agent pursuant to this Section 10.05. After the effectiveness of the retiring Administrative Agent’s resignation hereunder as the Administrative Agent, the retiring Administrative Agent shall be discharged from its
duties and obligations hereunder and under the other Facility Documents and the provisions of this Article XI shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while it was the
Administrative Agent under this Agreement and under the other Facility Documents. Any Person (i) into which the Administrative Agent may be merged or consolidated, (ii) that may result from any merger or consolidation to which the
Administrative Agent shall be a party, or (iii) that may succeed to the properties and assets of the Administrative Agent substantially as a whole, shall be the successor to the Administrative Agent under this Agreement without further act of
any of the parties to this Agreement. 
 Section 10.06 Administrative Agent’s Capacity 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 such Person and its Affiliates may accept deposits
from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder. 

ARTICLE XI 

MISCELLANEOUS 

Section 11.01 No Waiver; Modifications in Writing. 

(a) No failure or delay on the part of any party exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy. Any waiver of any provision of this Agreement, and any consent to any

  
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departure by any party to this Agreement from the terms of any provision of this Agreement, shall be effective only in the specific instance and for the specific purpose for which given. No
notice to or demand on the Borrower in any case shall entitle the Borrower to any other or further notice or demand in similar or other circumstances. 

(b) No amendment, modification, supplement or waiver of this Agreement shall be effective unless signed by the Borrower, the Seller, the
Administrative Agent and the Majority Lenders; provided that any amendment, modification, waiver or supplement of or to this Agreement that would (i) increase or extend the term of the Commitments (other than an increase in the
Commitment of a particular Lender or addition of a new Lender hereunder agreed to by the relevant Lender(s) pursuant to the terms of this Agreement) or change the Final Maturity Date, (ii) extend the date fixed for the payment of principal of
or interest on any Advance or any fee hereunder, (iii) reduce the amount of any such payment of principal, (iv) reduce the rate at which interest (other than Interest paid at the Post-Default Rate) is payable thereon or any fee is payable
hereunder, (v) release any material portion of the Collateral, except in connection with dispositions permitted hereunder, (vi) alter the terms of Section 9.01 or Section 11.01(b), or
(vii) modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof (including the definition of “Majority Lenders”) shall
require the written consent of all Lenders. 
 (c) Notwithstanding anything to the contrary contained in this Agreement or any other
Facility Document, no Defaulting Lender shall have any right to vote, approve or disapprove of any amendment, waiver or consent under this Agreement or any other Facility Document (and any amendment, waiver or consent which by its terms requires the
consent of all Lenders or each affected Lender may be effected without the consent of any Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and
(y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting
Lender. 
 (d) The Borrower shall deliver to the Servicer and the Backup Servicer copies of any amendment, modification, supplement or
waiver of this Agreement promptly following execution and effectiveness thereof. 
 Section 11.02 Notices, Etc. Except where
telephonic instructions are authorized herein to be given, all notices, demands, instructions and other communications required or permitted to be given to or made upon any party hereto shall be in writing and shall be personally delivered or sent
by registered, certified or express mail, postage prepaid, or by facsimile transmission, or by prepaid courier service, or by electronic mail (if the recipient has provided an email address in Schedule 3), and shall be deemed to be given for
purposes of this Agreement on the day that such writing is received by the intended recipient thereof in accordance with the provisions of this Section 11.02. Unless otherwise specified in a notice sent or delivered in
accordance with the foregoing provisions of this Section 11.02, notices, demands, instructions and other communications in writing shall be given to or made upon the respective parties hereto at their respective addresses
(or to their respective facsimile numbers or email addresses) indicated in Schedule 3, and, in the case of telephonic instructions or notices, by calling the telephone number or numbers indicated for such party in Schedule 3. 

  
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 Section 11.03 Taxes. 

(a) Any and all payments by the Borrower under this Agreement shall be made, in accordance with this Agreement, free and clear of and without
deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities (including penalties, interest and expenses) with respect thereto, excluding, (A) taxes imposed by net income (however
denominated), franchise taxes and branch profit taxes imposed (i) in the case of any Secured Party, by the jurisdiction (or any political subdivision thereof) under the laws of which such Secured Party is organized or in which its principal
office is located, or in the case of any Lender, in which its applicable lending office is located, or (ii) in the case of any Secured Party, by any jurisdiction by reason of such Secured Party having any other present or former connection with
such jurisdiction (other than a connection arising solely from entering into, performing its obligations under, receiving any payment under or enforcing its rights under this Agreement or any other Facility Document, engaging in any other
transaction pursuant to this Agreement or any other Facility Document, or selling or assigning an interest in this Agreement or any other Facility Document) (“Other Connection Taxes”), (B) any withholding taxes or backup withholding
described in Section 11.03(d)(i), (C) taxes described in Section 11.03(d)(ii) and (D) any U.S. federal withholding taxes imposed under FATCA (all such
non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as “Taxes”). If the Borrower or the Administrative Agent shall be required
by law (or by the interpretation or administration thereof) to deduct or withhold any taxes from or in respect of any sum payable by it hereunder or under any other Facility Document to any Secured Party, (i) with respect to Taxes, the sum
payable by the Borrower shall be increased as may be necessary so that after making all required deductions or withholdings (including deductions or withholdings applicable to additional sums payable under this
Section 11.03) such Secured Party receives an amount equal to the sum it would have received had no such deductions or withholdings been made, (ii) the Borrower or the Administrative Agent, as applicable, shall be
entitled to make such deductions or withholdings, and (iii) the Borrower or the Administrative Agent, as applicable, shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with Applicable Law.

 (b) In addition, the Borrower agrees, to timely pay any present or future stamp, court or documentary, intangible, recording, filing or
similar taxes which arise from any payment made by the Borrower hereunder or under any other Facility Document or from the execution, delivery or registration of, or otherwise with respect to, this Agreement or under any other Facility Document,
except any such taxes that are Other Connection Taxes imposed with respect to an assignment (hereinafter referred to as “Other Taxes”). 

(c) Without duplication of any obligation under Section 11.03(a) or (b), the Borrower agrees to indemnify each of the
Secured Parties for the full amount of Taxes or Other Taxes, including any Taxes or Other Taxes imposed or asserted by any jurisdiction on amounts payable under this Section 11.03 paid by such Person in respect of the
Borrower, whether or not such Taxes or Other Taxes were correctly or legally imposed or asserted. Payments by the Borrower or the Parent pursuant to this indemnification shall be made promptly following the date the Secured Party makes written
demand therefor, which demand shall be accompanied by a certificate describing in reasonable detail the basis thereof. Such certificate shall be presumed to be correct absent manifest error. 

  
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 (d) The Borrower shall not be required to indemnify any Secured Party, or pay any additional
amounts to any Secured Party, in respect of United States Federal withholding tax or United States federal backup withholding tax to the extent that (i) the obligation to withhold amounts with respect to United States Federal withholding or
backup withholding tax existed on the date such Lender became a party to this Agreement or, with respect to payments to a new lending office so designated by a Lender (a “New Lending Office”), the date such Lender designated such
New Lending Office with respect to an Advance; provided that this clause (i) shall not apply to the extent the indemnity payment or additional amounts any Secured Party would be entitled to receive (without regard to this
clause (i)) do not exceed the indemnity payment or additional amounts that the transferor Lender or the Lender making the designation of such New Lending Office would have been entitled to receive in the absence of such transfer or
designation, or (ii) the obligation to pay such additional amounts would not have arisen but for a failure by such Secured Party to comply with paragraphs (g) or (h) below. 

(e) Promptly after the date of any payment of Taxes or Other Taxes, the Borrower will furnish to the Administrative Agent the original or a
certified copy of a receipt issued by the relevant Governmental Authority evidencing payment thereof (or other evidence of payment as may be reasonably satisfactory to the Administrative Agent). 

(f) If any payment is made by the Borrower (or the Seller on its behalf) to or for the account of any Secured Party after deduction for or on
account of any Taxes or Other Taxes, and an indemnity payment or additional amounts are paid by the Borrower pursuant to this Section 11.03, then, if such Secured Party, in its sole discretion exercised in good faith,
determines that it is entitled to a refund of such Taxes or Other Taxes, such Secured Party shall, to the extent that it can do so without prejudice to the retention of the amount of such refund, apply for such refund and reimburse to the Borrower
(or the Seller, as applicable) such amount of any refund received (net of reasonable out-of-pocket expenses incurred) attributable to the relevant Taxes or Other Taxes
and any interest paid by the relevant Governmental Authority with respect to such refund; provided that in the event that such Secured Party is required to repay such refund to the relevant taxing authority, the Borrower agrees to return the
refund to such Secured Party. Notwithstanding anything to the contrary in this paragraph (f), in no event will a Secured Party be required to pay an amount to the Borrower pursuant to this paragraph (f) the payment of which would place the
Secured Party in a less favorable net after-tax position than the Secured Party would have been in if the Tax or Other 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 or Other Tax had never been paid. This paragraph (f) shall not be construed to require any Secured Party to make available its tax
returns (or any other information related to its taxes that it deems confidential) to the Borrower or any other Person. 
 (g) (i) Any
Secured Party and each Participant that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under this Agreement 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 Secured Party and each Participant, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by the

  
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Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Secured Party or Participant, as the case may be, 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 11.03(g)(ii) below) shall not be required if in the Secured Party’s or Participant’s, as the case may be, reasonable judgment such completion, execution or submission would subject such Secured Party or
Participant to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Secured Party or Participant. 

(ii) Without limiting the generality of the foregoing, (i) each Secured Party and each Participant that is a U.S. person
as that term is defined in Section 7701(a)(30) of the Code (a “U.S. Person”) hereby agrees that it shall, no later than the Closing Date or, in the case of a Secured Party or Participant which acquires an interest in the
Advances in accordance with Section 11.06, the date upon which such Secured Party or Participant which acquires an interest in the Advances, deliver to the Borrower and the Administrative Agent an accurate, complete and
signed electronic copy of IRS Form W-9 or successor form, certifying that such Secured Party or Participant is on the date of delivery thereof not subject to United States backup withholding tax and
(ii) each Secured Party or Participant that is organized under the laws of a jurisdiction outside than the United States (a “Non-U.S. Lender”) shall, no later than the date upon which
such Secured Party or Participant which acquires an interest in the Advances in accordance with Section 11.06, to the extent legally entitled to do so, deliver to the Borrower and the Administrative Agent: (1) 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 this Agreement or any Facility Document,
accurate, complete and signed electronic 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 this Agreement or any Facility 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; an accurate, complete and signed electronic copy of IRS Form W-8ECI; (3) in the case of a Non-U.S. Lender claiming exemption from U.S. Federal withholding tax under Section 871(h) or 881(c) of the Code, such Non-U.S. Lender shall provide (x) a
certification substantially in the form of Exhibit E-1 to the effect that such Non-U.S. Lender (x) is not a bank for purposes of Section 881(c) of the
Code, (y) is not a 10 percent shareholder (within the meaning of Section 871(h)(3)(B) of the Code) of the Borrower and (z) is not a controlled foreign corporation related to the Borrower (within the meaning of
Section 864(d)(4) of the Code) (a “U.S. Tax Compliance Certificate”), and such Non-U.S. Lender agrees that it shall notify the Borrower and the Administrative Agent in the event any such
representation is no longer accurate and (y) a IRS Form W-8BEN or IRS Form W-8BEN-E; or (4) to the extent a Non-U.S. Lender is not the beneficial owner, an accurate, complete and signed electronic copy 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 E-2 or Exhibit E-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-

  
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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 E-4 on behalf of each such direct and indirect partner. Such forms shall be delivered by each Non-U.S. Lender on or before the date it acquires an
interest in the Advances and on or before the date, if any, such Non-U.S. Lender designates a New Lending Office. In addition, each Non-U.S. Lender shall deliver such
forms as promptly as reasonable after receipt of a reasonable request therefor from the Borrower or the Administrative Agent. Notwithstanding any other provision of this Section 11.03, a
Non-U.S. Lender shall not be required to deliver any form pursuant to this Section 11.03(g) that such Non-U.S. Lender is not legally able to
deliver. 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 anything in this paragraph (g) to the contrary, any documentation required to be delivered by a Participant shall be delivered to the participating Lender, and such delivery shall
satisfy its documentation requirements under this paragraph (g). 
 (iii) If the Administrative Agent is a U.S. Person, it
shall deliver to the Borrower on or prior to the date on which it becomes the Administrative Agent under this Agreement an accurate, complete and signed electronic copy of IRS Form W-9. If the Administrative
Agent is not a U.S. Person, it shall provide to the Borrower on or prior to the date on which it becomes the Administrative Agent under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower): (A) an accurate,
complete and signed electronic copy of IRS Form W-8ECI with respect to any amounts payable to the Administrative Agent for its own account, and (B) an accurate, complete and signed electronic copy of IRS
Form W-8IMY with respect to any amounts payable to the Administrative Agent for the account of others, certifying that it is a “U.S. branch” and that the payments it receives for the account of
others are not effectively connected with the conduct of its trade or business within the United States and that it is using such form as evidence of its agreement with the Borrower to be treated as a U.S. Person with respect to such payments (and
the Borrower and the Administrative Agent agree to so treat the Administrative Agent as a U.S. Person with respect to such payments as contemplated by Section 1.1441-1(b)(2)(iv) of the United States
Treasury Regulations). 
 (h) If any Secured Party requires the Borrower to pay any additional amount to such Secured Party or any taxing
Governmental Authority for the account of such Secured Party or to indemnify such Secured Party pursuant to this Section 11.03, then such Secured Party shall use reasonable efforts to designate a different lending office
for funding or booking its Advances hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if such Lender determines, in its sole discretion exercised in good faith, that such designation or
assignment (i) would eliminate or reduce amounts payable pursuant to this Section 11.03 in the future and (ii) would not subject such Secured Party to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Secured Party. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

  
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 (i) Nothing in this Section 11.03 shall be construed to require
any Secured Party to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any other Person. 

(j) Compliance with FATCA. If a payment made to a Lender or Participant under this Agreement or any Facility Document would be subject
to U.S. federal withholding Tax imposed by FATCA if such Lender or Participant were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such
Lender or Participant shall deliver to the 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 Administrative Agent and the
Borrower to comply with their obligations under FATCA and to determine that such Lender or Participant has complied with such applicable reporting requirements or to determine the amount required to be deducted or withheld under FATCA, if any.
Solely for purposes of this paragraph (j), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. Notwithstanding anything in this paragraph (j) to the contrary, any documentation required to be delivered
by a Participant shall be delivered to the participating Lender, and such delivery shall satisfy its documentation requirements under this paragraph (j). 

(k) The Lenders shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Taxes or Other
Taxes attributable to such Lender, (ii) any taxes attributable to such Lender’s failure to comply with the provisions of Section 11.06 relating to the maintenance of a Participant Register and (iii) any taxes
excluded from the definition of Taxes pursuant to Section 11.03(a) attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Facility Document, and any reasonable
expenses arising therefrom or with respect thereto, whether or not such 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 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 any Facility Document or otherwise payable
by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (k). 

(l) Each party’s obligations under this Section 11.03 shall survive the resignation or replacement of the
Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the commitments and the repayment, satisfaction or discharge of all obligations under any Facility Document. 

Section 11.04 Costs and Expenses; Indemnification. 

(a) The Borrower agrees to promptly pay on demand (i) all reasonable and documented out-of-pocket costs and expenses of the Administrative Agent, the other Lenders and the Program Support Providers in connection with the preparation, review, negotiation, reproduction, execution and delivery
of this Agreement and the other Facility Documents, including the reasonable and 

  
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documented fees and disbursements of a single counsel for the Administrative Agent, the Lenders and the Program Support Providers taken as a, UCC filing fees and all other related fees and
expenses in connection therewith; and in connection with any modification or amendment of this Agreement or any other Facility Document. Further, the Borrower shall promptly pay on demand (A) all reasonable out-of-pocket costs and expenses (including all reasonable and documented fees, expenses and disbursements of legal counsel (it being understood that such counsel shall be limited to one single counsel for
the Administrative Agent, all Lenders and the Program Support Providers taken as a whole, plus any requisite single local counsel (in each jurisdiction in which any enforcement action is pending) for the Administrative Agent, all Lenders and the
Program Support Providers taken as a whole) and any auditors and accountants engaged by the Administrative Agent) incurred by the Administrative Agent, the Lenders and the Program Support Providers in the preparation, execution, delivery, filing,
recordation, administration, performance or enforcement of this Agreement or any other Facility Document or any consent, amendment, waiver or other modification relating thereto, (B) all reasonable out-of-pocket costs and expenses of creating, perfecting, releasing or enforcing the Administrative Agent’s security interests in the Collateral, including filing and recording fees, expenses, search
fees, and title insurance premiums, and (C) after the occurrence of any Event of Default, all costs and expenses incurred by the Administrative Agent, the Lenders and the Program Support Providers in connection with the preservation,
collection, foreclosure or enforcement of the Collateral subject to the Facility Documents or any interest, right, power or remedy of the Administrative Agent, the Lenders and the Program Support Providers or in connection with the collection or
enforcement of any of the Obligations or the proof, protection, administration or resolution of any claim based upon the Obligations in any insolvency proceeding, including all reasonable and documented fees and disbursements of attorneys,
accountants, auditors, consultants, appraisers and other professionals engaged by the Administrative Agent, the Lenders and the Program Support Providers. The undertaking in this Section 11.04 shall survive repayment of the
Obligations, any foreclosure under, or modification, release or discharge of, any or all of the Related Documents, termination of this Agreement and the resignation or replacement of the Administrative Agent. Without prejudice to its rights
hereunder, the expenses and the compensation for the services of the Administrative Agent are intended to constitute expenses of administration under any applicable bankruptcy law. 

(b) The Borrower agrees to indemnify each Secured Party and each of their Affiliates and the respective officers, directors, employees,
agents, managers of, and any Person controlling any of, the foregoing (each, an “Indemnified Party”) for any and all claims, damages, losses, liabilities, obligations, expenses, penalties, actions, suits, judgments and disbursements
of any kind or nature whatsoever, (including the reasonable and documented fees and disbursements of counsel (but limited, in the case of legal fees and expenses of the Indemnified Parties, to one counsel to such Indemnified Parties taken as a whole
and any single local counsel (in each jurisdiction in which any enforcement action is pending) for the Indemnified Parties taken as a whole)) that may be incurred by or awarded against any Indemnified Party, in each case arising out of or in
connection with or by reason of the execution, delivery, enforcement, performance, administration of or otherwise arising out of or incurred in connection with this Agreement, any other Facility Document, any Related Document or any transaction
contemplated hereby or thereby (collectively, the “Liabilities”), including any such Liability that is incurred or arises out of or in connection with, or by reason of any one or more of the following: (i) preparation for a
defense of any investigation, litigation or proceeding arising out of, related to or in connection with this 

  
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Agreement, any other Facility Document, any Related Document or any of the transactions contemplated hereby or thereby; (ii) any breach of any covenant or obligation by the Borrower or the
Seller contained in any Facility Document; (iii) any representation or warranty made or deemed made by the Borrower or the Seller contained in any Facility Document or in any certificate, statement or report delivered in connection therewith is
false or misleading; (iv) any failure by the Borrower or the Seller to comply with any Applicable Law or contractual obligation binding upon it; (v) any failure to vest, or delay in vesting, in the Administrative Agent (for the benefit of
the Secured Parties) a perfected security interest in all of the Collateral free and clear of all Liens solely in the event such failure to vest or delay in vesting is a result of an act or omission of the Borrower, the Seller or the Originator;
(vi) any action or omission, not expressly authorized by the Facility Documents, by the Borrower, the Seller or any Affiliate of the Borrower or the Seller which has the effect of reducing or impairing the Collateral or the rights of the
Administrative Agent or the Secured Parties with respect thereto; (vii) the failure to file, or any delay in filing, by the Borrower or the Seller of financing statements, continuation statements or other similar instruments or documents under
the UCC of any applicable jurisdiction or other Applicable Law with respect to any Collateral, whether at the time of any Advance or at any subsequent time; (viii) any dispute, claim, offset or defense (other than the discharge in bankruptcy of
an Obligor) of an Obligor to the payment with respect to any Collateral (including a defense based on any Facility Receivable (or the Related Documents evidencing such Facility Receivable) not being a legal, valid and binding obligation of such
Obligor enforceable against it in accordance with its terms), or any other claim resulting from any related property; (ix) the commingling of Collections on the Collateral at any time with other funds; (x) any failure by the Borrower to
give reasonably equivalent value to the applicable seller, in consideration for the transfer by such seller to the Borrower of any item of Collateral or any attempt by any Person to void or otherwise avoid any such transfer under any statutory
provision or common law or equitable action, including any provision of the Bankruptcy Code; (xi) any Unmatured Event of Default or Event of Default; (xii) the use of proceeds of any Advance; (xiii) any attempt by any person to void
or otherwise avoid any transfer of Facility Receivables to the Borrower under any statutory provision or common law or equitable action, including any provision of the Bankruptcy Code; (xiv) any and all civil penalties or fines assessed by OFAC
against, and all reasonable costs and expenses (including attorneys’ fees and disbursements) incurred in connection with the defense thereof by the Administrative Agent or any Lender as a result of funding all or any portion of the advances or
the acceptance of payments or of Collateral due under the Facility Document and (xv) the failure by the Borrower to pay when due any taxes for which the Borrower is liable, including sales, excise or personal property taxes payable in
connection with the Collateral; provided, that the Borrower shall not be liable (A) for any Liability arising due to the deterioration in the credit quality or market value of the Facility Receivables or other Collateral hereunder or
(B) to the extent any such Liability is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted solely from such Indemnified Party’s fraud, gross negligence or
willful misconduct; provided, further, that in no event will the Borrower or the Parent have any liability for any special, exemplary, indirect, punitive or consequential damages (including but not limited to lost profits) in
connection with or as a result of such Indemnified Party’s activities related to this Agreement or any Facility Document or any agreement or instrument contemplated hereby or thereby or referred to herein or therein; provided,
further, that this Section 11.04(b) shall not apply to any payment hereunder which relates to taxes, levies, imposts, deductions, charges and withholdings, and all liabilities (including penalties, interest and
expenses) with respect thereto except for taxes, levies, imposts, deductions, charges and withholdings and all liabilities (including penalties, interest and expenses) that arise from a non-tax claim. 

  
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 (c) All amounts due under this Section 11.04 shall be payable not
later than twenty (20) Business Days after written demand therefor accompanied by documentation reasonably evidencing the related Liabilities subject to such demand. 

Section 11.05 Execution in Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed to
be an original, but together they shall constitute one and the same instrument. Facsimile and .pdf signatures shall be deemed valid and binding to the same extent as the original and the parties affirmatively consent to the use thereof, with no such
consent having been withdrawn. Each party agrees that this Agreement and any documents to be delivered in connection with this Agreement may be executed by means of an electronic signature. Any electronic signatures appearing on this Agreement and
such other documents are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any electronic
signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. 

Section 11.06 Assignability. 

(a) Each Lender may, with the consent of the Administrative Agent and the Borrower (in each case not to be unreasonably withheld or delayed),
assign to an assignee all or a portion of its rights and obligations under this Agreement (including all or a portion of its outstanding Advances or interests therein owned by it, together with ratable portions of its Commitment); provided
that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within ten (10) Business Days after having received notice thereof; provided
further that: 
 (i) the Borrower’s consent to any such assignment shall not be required if the assignee is a
Permitted Assignee with respect to such assignor; and 
 (ii) the Borrower’s consent to any such assignment pursuant to
this Section 11.06(a) shall not be required if an Event of Default shall have occurred and is continuing (and has not been waived by the Lenders in accordance with Section 11.01). 

(b) The parties to each such assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance and the applicable
tax forms required by Section 11.03(g). For the avoidance of doubt, the parties hereto acknowledge and agree that any Conduit Lender may assign its rights and obligations hereunder and under the Advances to any Program
Support Provider or Conduit Assignee (and any such Program Support Provider or Conduit Assignee may assign its rights and obligations hereunder to any Conduit Lender hereunder), in each case, without the consent of the Borrower, the Administrative
Agent or any other Person. Notwithstanding any other provision of this Section 11.06, any Lender may at any time pledge or grant a security interest in all or any portion of its rights (including rights to payment of
principal and interest) under this Agreement to secure obligations of such Lender, including any pledge or security interest granted 

  
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to a Federal Reserve Bank and, in the case of a Conduit Lender, to its program collateral agent or trustee, in each case, without notice to or consent of the Borrower or the Administrative Agent;
provided that no such pledge or grant of a security interest shall release such Lender from any of its obligations hereunder or substitute any such pledgee or grantee for such Lender as a party hereto. 

(c) The Borrower may not assign its rights or obligations hereunder or any interest herein without the prior written consent of the
Administrative Agent and the Majority Lenders. 
 (d) (i) Any Lender may, without the consent of the Borrower, sell participations to one or
more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement; 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, (C) the Borrower, the Administrative Agent 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, and (D) each Participant shall have agreed to be bound by this Section 11.06(c) and Sections 11.09(b),
11.15 and 11.19. Sections 2.09 and 11.03 shall apply to each Participant as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (a) of this Section; provided that no
Participant shall be entitled to any amount under Section 2.09 or 11.03 which is greater than the amount the related Lender would have been entitled to under any such Sections or provisions if the applicable
participation had not occurred, except to the extent such entitlement to receive a greater payment results from a change in Applicable Law that occurs after the Participant acquired the applicable participation. 

(ii) In the event that any Lender sells participations in any portion of its rights and obligations hereunder, such Lender as non-fiduciary agent for the Borrower shall maintain a register on which it enters the name of all Participants in the Advances held by it and the principal amount (and stated interest thereon) of the portion of the
Advance which is the subject of the participation (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, Advance or its other obligations under this Agreement) 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, Advance or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. 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. An Advance may be participated in whole or in part only by registration of such participation on
the Participant Register. Any participation of such Advance may be effected only by the registration of such participation on the Participant Register. The entries in the Participant Register shall be conclusive absent manifest error. 

(e) The Administrative Agent, on behalf of and acting solely for this purpose as the non-fiduciary
agent of the Borrower, shall maintain at its address specified in Section 11.02 or such other address as the Administrative Agent shall designate in writing to the Lenders, a copy of this Agreement and each signature page
hereto and each Assignment and Acceptance delivered 

  
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to and accepted by it and a register (the “Register”) for the recordation of the names and addresses of the Lenders and the aggregate outstanding principal amount of the Advances
maintained by each Lender under this Agreement (and any stated interest thereon). No assignment shall be effective unless it has been recorded in the Register as provided in this Section 11.06(e). The entries in the
Register shall be conclusive and binding for all purposes, absent manifest error, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this
Agreement. The Register shall be available for inspection by the Borrower or any Lender (in respect of such Lender’s Advances or Commitments only) at any reasonable time and from time to time upon reasonable prior notice. An Advance may be
assigned or sold in whole or in part only by registration of such assignment or sale on the Register and in accordance with this Section 11.06. This Section shall be construed so that the Advances are at all times
maintained in “registered form” within the meanings of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related regulations (and any successor provisions). 

(f) Notwithstanding anything to the contrary set forth herein or in any other Facility Document, each Lender hereunder, and each Participant,
must at all times be a “qualified purchaser” as defined in the Investment Company Act (a “Qualified Purchaser”) and a “qualified institutional buyer” as defined in Rule 144A under the Securities Act (a
“QIB”). Each Lender represents to the Borrower (i) on the date that it becomes a party to this Agreement (whether by being a signatory hereto or by entering into an Assignment and Acceptance) and (ii) on each date on which
it makes an Advance hereunder, that it is a Qualified Purchaser and a QIB. Each Lender further agrees that it shall not assign, or grant any participations in, any of its Advances or its Commitment to any Person unless such Person is a Qualified
Purchaser and a QIB. 
 Section 11.07 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL
OBLIGATIONS LAW). 
 Section 11.08 Severability of Provisions. Any provision of this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision
in any other jurisdiction. 
 Section 11.09 Confidentiality. Each Secured Party agrees to keep confidential all non-public information provided to it by the Borrower, the Seller or the Parent with respect to the Borrower, the Seller, or the Parent or any of their respective Affiliates, the Collateral or any other information
furnished to any Secured Party pursuant to this Agreement or any other Facility Document (collectively, the “Borrower Information”); provided that nothing herein shall prevent any Secured Party from disclosing any Borrower
Information (a) in connection with this Agreement and the other Facility Documents and not for any other purpose, (i) to any Secured Party or any Affiliate of a Secured Party, or (ii) any of their respective Affiliates, employees,
officers, directors, agents, attorneys, consultants, accountants and other professional advisors (collectively, the “Secured Party Representatives”), it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Borrower Information, 

  
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(b) subject to (x) an agreement to comply with the provisions of this Section (or other provisions at least as restrictive as this Section) or (y) in the case of any such recipient that
is subject to a legal or professional (the “Advisors”) duty of confidentiality, being informed of the confidential nature of the Borrower Information, (i) to use the Borrower Information only in connection with this Agreement
and the other Facility Documents and not for any other purpose, to any actual or bona fide prospective permitted assignees and Participants in any of the Secured Parties’ interests under or in connection with this Agreement and (ii) as
reasonably required by any direct or indirect contractual counterparties or professional advisors thereto, to any swap or derivative transaction relating to the Borrower and its obligations, (c) to any Governmental Authority purporting to have
jurisdiction over any Secured Party or any of its Affiliates or any Secured Party Representative (provided, that such Secured Party, shall, except with respect to any audit or examination conducted by bank accountants or any governmental bank
regulatory authority exercising examination or regulatory authority, promptly notify the Borrower to the extent practicable and permitted by law, rule, regulation, judicial process, and governmental and regulatory authority (collectively,
“Law”) to do so), (d) in response to any order of any court or other Governmental Authority or as may otherwise be required or ordered to be disclosed pursuant to any Applicable Law (provided, that such Secured Party shall notify
the Borrower promptly thereof, except with respect to any audit or examination conducted by bank accountants or any governmental bank regulatory authority exercising routine examination or regulatory authority) to the extent practicable and
permitted by Law), (e) that is a matter of general public knowledge or that has heretofore been made available to the public by any Person other than any Secured Party or any Secured Party Representative, (f) in connection with the exercise of
any remedy hereunder or under any other Facility Document, (g) was already lawfully known (without restriction on disclosure) to the Secured Party prior to the information being disclosed by the Borrower, the Seller or the Parent, as
applicable, (h) has been rightfully furnished to the Secured Party without restriction on disclosure by a third person lawfully in possession thereof; (i) independently developed by the Secured Party or its representatives, (j) with
the Borrower’s consent, (k) on a confidential basis, to any rating agency rating the Advances, or (l) with respect to any Conduit Lender (i) to any rating agency rating the CP of any Conduit Lender or a nationally recognized
statistical rating organization in connection with any party’s compliance with Rule 17g-5 promulgated by the U.S. Securities and Exchange Commission, (ii) to any administrative agent, sub-administrative agent, administrator, sub-administrator, administrative trustee, sub-administrative trustee or any entity servicing
in a similar capacity for any Conduit Lender and (iii) to any Program Support Provider (including any equity provider to the applicable Conduit Lender), any potential Program Support Provider, any assignee or participant or potential assignee
or participant of any Program Support Provider, any program collateral agent or trustee for any Conduit Lender, any provider of credit protection to a Lender or any provider of a hedge for the benefit of a Lender, provided that with respect
to the foregoing clauses (l)(i), (ii) and (iii) such recipient from such Conduit Lender is informed of the confidentiality thereof and agree to maintain such confidentiality on the same terms as set forth in this
Section 11.09 and each Person shall be responsible for any breach of these section by its Secured Party Representatives and Advisors. 

Section 11.10 Merger. This Agreement and the other Facility Documents executed by the Administrative Agent or the Lenders taken as
a whole incorporate the entire agreement between the parties thereto concerning the subject matter thereof and such Facility Documents supersede any prior agreements among the parties relating to the subject matter thereof. 

  
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 Section 11.11 Survival. All representations and warranties made hereunder, in
the other Facility Documents and in any certificate delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery of this Agreement and the making of the Advances hereunder. The agreements in
Sections 2.04(e), 2.11, 7.02, 7.06(b), 11.03, 11.04, 11.09, 11.16, 11.18, 11.19, 11.20, 11.21, 11.22 and this Section 11.11 shall
survive the termination of this Agreement in whole or in part and the payment in full of the principal of and interest on the Advances. 

Section 11.12 Submission to Jurisdiction; Waivers; Etc. Each party hereto hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Agreement or the other Facility 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 State of New York, the courts of the United States for the Southern District of New York, and the
appellate courts of any of them; 
 (b) consents that any such action or proceeding may be brought in any court described in
Section 11.12(a) and waives to the fullest extent permitted by Applicable Law any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding
was brought in an inconvenient court and agrees not to plead or claim the same; 
 (c) agrees that service of process in any such action or
proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such party at its address set forth in Section 11.02 or at such other
address as may be permitted thereunder; 
 (d) agrees that nothing herein shall affect the right to effect service of process in any other
manner permitted by law; and 
 (e) 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 or relating to this Agreement or any other Facility Document any special, exemplary, indirect, punitive or consequential damages (as opposed to direct or actual damages) (whether or not the claim therefor is
based on contract, tort or duty imposed by any applicable legal requirement). 
 Section 11.13 Waiver of Jury Trial. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER FACILITY DOCUMENT OR FOR ANY COUNTERCLAIM THEREIN OR RELATING THERETO. 

Section 11.14 Service of Process. Each party to this Agreement irrevocably consents to service of process in the manner provided
for notices in Section 11.02 (other than by email or facsimile). Nothing in this Agreement or any other Facility Document will affect the right of any party to this Agreement to serve process in any other manner permitted
by law. 

  
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 Section 11.15 Waiver of Setoff. Each of the Borrower and the Seller hereby
waives any right of setoff it may have or to which it may be entitled under this Agreement from time to time against any Lender or its assets. 

Section 11.16 PATRIOT Act Notice. Each Lender and the Administrative Agent hereby notifies the Borrower that pursuant to the
requirements of the USA PATRIOT Act (Title III of Pub. L. 107 56 (signed into law on October 26, 2001)) (the “PATRIOT Act”), it is required to obtain, verify and record information that identifies the Borrower, which
information includes the name and address of the Borrower and other information that will allow the Lenders to identify the Borrower in accordance with the PATRIOT Act. The Borrower shall provide, to the extent commercially reasonable, such
information and take such actions as are reasonably requested in writing by any Lender in order to assist such Lender in maintaining compliance with the PATRIOT Act. 

Section 11.17 [Reserved]. 

Section 11.18 Non-Petition. 

(a) The Seller, the Parent, the Administrative Agent and each Lender hereby agrees not to institute against, or join, cooperate with or
encourage any other Person in instituting against, the Borrower any bankruptcy, reorganization, receivership, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under federal or state bankruptcy or similar laws until
at least one year and one day, or if longer the applicable preference period then in effect plus one day, after the payment in full of the Advances and the termination of all Commitments. 

(b) Each of the parties hereto hereby covenants and agrees with respect to each Conduit Lender that, prior to the date which is one year and
one day (or, if longer, any applicable preference period plus one day) after the payment in full of all outstanding indebtedness of such Conduit Lender (or its related commercial paper issuer), it will not institute against or join any other Person
in instituting against such Conduit Lender any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States. The foregoing shall not
limit the rights of the Borrower, the Seller, the Parent, the Administrative Agent or the Lenders to file any claim in, or otherwise take any action with respect to, any insolvency proceeding instituted against any Conduit Lender by a Person other
than the Borrower, the Seller, the Parent, the Administrative Agent or the Lenders, as applicable. 
 (c) The provisions of this
Section 11.18 shall survive the termination of this Agreement. 
 Section 11.19 Third Party
Beneficiary. The Servicer, the Account Bank and the Backup Servicer shall be an express third-party beneficiary of this Agreement with a right to enforce the provisions of Section 9.01 that inure to its benefit. No
amendment or change adverse to the Servicer in Section 9.01 or any other section of this Agreement intended for the benefit of the Servicer, or that would result in an increase of the Servicer’s obligations or
diminution of its rights under the Servicing Agreement or otherwise, shall be made without the prior written consent of the Servicer. 

  
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 Section 11.20 No Fiduciary Duty. The Administrative Agent, each Lender and their
Affiliates (collectively, solely for purposes of this Section 11.20, the “Lenders”), may have economic interests that conflict with those of the Borrower, the Seller and the Parent (collectively, solely for
purposes of this Section 11.20, the “Credit Parties”), their stockholders and/or their affiliates. Each Credit Party agrees that nothing in the Facility Documents or otherwise will be deemed to create an
advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Lender, on the one hand, and such Credit Party, its stockholders or its affiliates, on the other. The Credit Parties acknowledge and agree that (i) the
transactions contemplated by the Facility Documents (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Administrative Agent and
the Lenders, on the one hand, and the Credit Parties, on the other, and (ii) in connection therewith and with the process leading thereto, (x) neither the Administrative Agent nor Lender has assumed an advisory or fiduciary responsibility
in favor of any Credit 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 the
Administrative Agent or any Lender has advised, is currently advising or will advise any Credit Party, its stockholders or its Affiliates on other matters) or any other obligation to any Credit Party except the obligations expressly set forth in the
Facility Documents and (y) the Administrative Agent and each Lender is acting solely as principal and not as the agent or fiduciary of any Credit Party, its management, stockholders, creditors or any other Person. Each Credit 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
Credit Party agrees that it will not claim that the Administrative Agent or any Lender has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to such Credit Party, in connection with such transaction or the
process leading thereto. 
 Section 11.21 Excess Funds. Notwithstanding any provision contained in this Agreement to the
contrary, other than in connection with the obligation to fund Borrowings in accordance herewith if such Conduit Lender has a Commitment hereunder, no Conduit Lender shall, nor shall be obligated to, pay any amount pursuant to this Agreement unless
(i) such Conduit Lender has received funds which may be used to make such payment and which funds are not required to repay its CP when due and (ii) after giving effect to such payment, either (x) such Conduit Lender could issue CP to
refinance all of its outstanding CP (assuming such outstanding CP matured at such time) in accordance with the program documents governing such Conduit Lender’s commercial paper program or (y) all of such Conduit Lender’s CP are paid
in full. Any amount which a Conduit Lender does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or corporate obligation of such Conduit Lender for any
such insufficiency unless and until such Conduit Lender satisfies the provisions of clauses (i) and (ii) above. 
 Section 11.22
Acknowledgement and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary in any Facility 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 Facility 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 

  
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 (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 Facility 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. 
 Section 11.23
Risk Retention. The Seller represents, warrants, covenants and agrees that, at all times prior to the termination of this Agreement, except as otherwise authorized by each Affected Person that is subject to the Securitisation Regulations, on
an ongoing basis, that: 
 (a) it will retain and hold a material net economic interest in the Facility Receivables in an amount not less
than 5% of the aggregate nominal value of the Facility Receivables measured as of each Borrowing Date (the “Retained Interest”) in the form of a first loss position as referred to in paragraph (d) of Article 6(3) of each of the
Securitisation Regulations by owning, initially, 100% of the Equity Interests of the Borrower, and will be entitled to any Collections remaining after the payment in full of each of the foregoing items in Section 9.01(a);

 (b) it will not, and will not permit any of its Affiliates to, (i) change the manner or form in which it retains the Retained
Interest or (ii) subject such Equity Interests or the Retained Interest to credit risk mitigation or any other hedge, or sell, transfer or otherwise surrender all or part of the rights, benefits or obligations arising from the Retained
Interest, in a manner which would be contrary to the Securitisation Regulations; 
 (c) it (i) was not established for, and does not
operate for, the sole purpose of securitizing exposures, (ii) has assets, securities and other investments excluding the Retained Interest, and (iii) has the capacity to meet its general payment obligations through resources other than the
Retained Interest; 
 (d) it will promptly, upon written request by the Administrative Agent (which may be in electronic form) and at the
written direction of and on behalf of the Lenders, provide, or cause to be provided, such information as may be reasonably required by any Affected Person to satisfy its obligations under the Securitisation Regulations, but only if such information
is in its possession or that of its Affiliates and to the extent it can provide that information without breaching a legal or contractual duty of confidentiality, and in each case, subject to the provisions of Section 11.09
hereof; 

  
 66 

 (e) it will (i) promptly, and in any event within five (5) Business Days, notify,
or cause to be notified, the Administrative Agent in the event that it fails to comply with paragraphs (a) and (b) above in any material way and (ii) promptly notify, or cause to be notified, the Administrative Agent of any material breach
of any of its covenants or representations contained in this Section 11.23; and 
 (f) it will, in each Monthly
Report, confirm and represent (i) that it continues to hold the Retained Interest on an on-going basis and (ii) that it has not entered into credit risk mitigation, short positions, any other hedges
or transfers with respect to the Retained Interest except as would be permitted by the Securitisation Regulations. 
 Section 11.24
Amendment and Restatement. 
 This Agreement amends and restates the Existing Agreement as of the date hereof. This Agreement shall
not effect a novation of any of the obligations of the parties to the Existing Agreement, but instead shall be merely a restatement and, when applicable, an amendment of the terms governing such obligations. 

[Remainder of Page Intentionally Left Blank] 

  
 67 

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

			
	COMPASS CONCIERGE SPV I, LLC, as Borrower
		
	By:	 	/s/ Kristen Ankerbrandt
	Name: Kristen Ankerbrandt
	Title: Chief Financial Officer
	
	COMPASS CONCIERGE, LLC, as Seller
		
	By:	 	/s/ Kristen Ankerbrandt
	Name: Kristen Ankerbrandt
	Title: Treasurer

  
 [Signature Page to
Amended and Restated Revolving Credit and Security Agreement (Compass)] 

 
			
	BARCLAYS BANK PLC, as Administrative Agent and as a Lender
		
	By:	 	/s/ John McCarthy
	Name: John McCarthy
	Title: Director

  
 [Signature Page to
Amended and Restated Revolving Credit and Security Agreement (Compass)] 

 SCHEDULE 1 

COMMITMENTS AND PERCENTAGES 
  

					
	LENDER	  	COMMITMENT	  	PERCENTAGE
			
	Barclays Bank PLC	  	$75,000,000.00	  	100%
			
	TOTAL COMMITMENTS	  	$75,000,000.00	  	100%

 APPENDIX A 

Definitions 

“Acceptance List” has the meaning specified in Section 2.1 of the Transfer Agreement. 

“Accepted Collections Policies” means the servicing policies of the Servicer with respect to the servicing and administration
of the Notable Receivables following the related Loan’s maturity date, which is in effect as of the date hereof and a current copy of which is attached as Exhibit A to the Servicing Agreement, as such policies may be amended, modified or
supplemented from time to time in accordance with the terms of the Servicing Agreement. 
 “Accepted Servicing Policies”
means the servicing policies of the Servicer with respect to the servicing and administration of the Notable Receivables prior to the related Loan’s maturity date, which is in effect as of the date hereof and a current copy of which is attached
as Exhibit B to the Servicing Agreement, as such policies may be amended, modified or supplemented from time to time in accordance with the terms of the Servicing Agreement. 

“Account Bank” means (i) JPMorgan Chase Bank, N.A. or (ii) another institution acceptable to the Administrative
Agent in its reasonable discretion; provided that each Account Bank shall be required to have (a) a combined capital and surplus of at least $200,000,000, (b) an office within the United States and (c) a short-term rating of at
least “P-1” by Moody’s, at least “A-1” by S&P and at least “F1” by Fitch and a long-term rating of at least “Baa1” by
Moody’s, at least “BBB+” by S&P and at least “BBB (high)” by Fitch. 
 “Account Bank Fee”
means the fee payable monthly by the Borrower to the Account Bank, if any, in respect of the maintenance of the Borrower Accounts. 

“Account Control Agreement” means the Blocked Account Control Agreement, dated as of the Closing Date, among the Borrower,
the Account Bank and the Administrative Agent establishing “control” within the meaning of the UCC over the Collection Account and the Reserve Account. 

“Administrative Agent” has the meaning assigned to such term in the preamble to the Credit Agreement. 

“Advance” means the advance of a loan by the Lenders to the Borrower pursuant to Article II. 

“Advance Rate” means (a) with respect to any Eligible Receivable originated less than one hundred twenty-two (122) days prior to the related Borrowing Date, 78.0% or following the occurrence and during the continuance of a Level I Trigger Event, 73.0%, (b) with respect to any Eligible Receivable originated
equal to or greater than one hundred twenty-two (122) days but less than three hundred five (305) days prior to the related Borrowing Date, 68.0% or following the occurrence and during the
continuance of a Level I Trigger Event, 63.0%, (c) with respect to any Eligible Receivable originated equal to or greater than three hundred five (305) days prior to the related Borrowing Date but less than three hundred ninety-five
(395) days prior to the related Borrowing Date, 58.0% or following the occurrence and during the continuance of a Level I 

 
Trigger Event, 53.0%; or (d) notwithstanding the foregoing, with respect to any Eligible Receivable that has received an Approved Extension and/or an Approved Payment Plan Adjustment, 58.0%,
or following the occurrence and during the continuance of a Level I Trigger Event, 53.0%. For the avoidance of doubt, any Facility Receivable (other than a Facility Receivable that received an Approved Extension and/or an Approved Payment Plan
Adjustment) originated equal to or greater than three hundred ninety-five (395) days prior to any date of determination shall have an Advance Rate equal to 0.0% and shall not constitute an Eligible Receivable. 

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

“Affected Person” means (i) each Lender and (ii) each Program Support Provider. 

“Affiliate” means, in respect of a referenced Person, another Person (other than any natural person) Controlling, Controlled
by or under common Control with such referenced Person, provided that a Person shall not be deemed to be an “Affiliate” of another Person solely because it is under the common ownership or control of the same financial sponsor or
affiliate thereof as such Person (except if any such Person provides collateral under, guarantees or otherwise supports the obligations of the other such Person). 

“Aggregate Discounted Principal Balance” means, when used with respect to all or a portion of the Facility Receivables, the
sum of the Discounted Principal Balances of all or of such portion of such Facility Receivables. 
 “Agreement” has the
meaning assigned to such term in the preamble. 
 “Amendment Effective Date” means July 29, 2021. 

“Amendment Effective Date Certificate” means an Amendment Effective Date Certificate substantially in the form of Exhibit
F. 
 “Amortization Date” means the earlier to occur of (i) the Scheduled Revolving Period Termination Date and
(ii) an Early Amortization Event. 
 “Amortization Margin” has the meaning assigned to such term in the Fee Letter.

 “Applicable Laws” means any action, code, consent decree, constitution, decree, directive, enactment, finding, law,
injunction, binding interpretation, judgment, order, ordinance, proclamation, promulgation, regulation, requirement, rule, rule of law, settlement agreement, statute, or writ, of any Governmental Authority, or any particular section, part or
provision thereof, including all Federal and state banking or securities laws, to which the Person in question is subject or by which it or any of its assets or properties are bound; provided, however, that such term shall also include
the rules, requirements and regulations issued by credit card associations and the National Automated Clearing House Association, as applicable. 

“Applicable Margin” has the meaning assigned to such term in the Fee Letter. 

  
 2 

 “Approved Extension” means, with respect to any Facility Receivable, an
extension granted by the Servicer to the date such Facility Receivable is fully due and payable; provided, that: (a) such extension is granted pursuant to and in accordance with the Concierge Capital Extensions and Payment Arrangements Policy,
(b) the duration of such extension may not exceed one hundred eighty (180) days, (c) such extension cannot be granted to a Facility Receivable where the closing of the sale of the related Property has occurred and (d) the related
Facility Receivable has not previously received an Approved Extension or an Approved Payment Plan Adjustment. 
 “Approved Payment
Plan Adjustment” means, with respect to any Facility Receivable, an alternative payment arrangement granted by the Servicer; provided, that: (a) such alternative payment arrangement is granted pursuant to and in accordance with the
Concierge Capital Extensions and Payment Arrangements Policy, (b) such alternative payment arrangement does not result in an extension which duration exceeds one hundred eighty (180) days, (c) such alternative payment arrangement cannot be
granted to a Facility Receivable where the closing of the sale of the related Property has occurred, (d) the related Facility Receivable has not previously received an Approved Extension, unless such Approved Extension, which taken in the
aggregate with such alternative payment arrangement, does not extend the maturity of the related Facility Receivable by more than one hundred and eighty (180) days and (e) the related Facility Receivable has not previously received an
Approved Payment Plan Adjustment. 
 “Assignment and Acceptance” means an Assignment and Acceptance in substantially the
form of Exhibit C to the Credit Agreement, entered into by a Lender, an assignee, the Administrative Agent and, if applicable, the Borrower. 

“Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable,
(x) if the then-current Benchmark is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Interest Accrual Period or (y) otherwise, any payment period for interest calculated with reference to
such Benchmark, as applicable, pursuant to this Agreement as of such date. 
 “Backup Servicer” means Vervent, Inc., in its
capacity as backup servicer under the Backup Servicing Agreement, or any other Person acting as a backup servicer that has been approved in writing by the Administrative Agent. 

“Backup Servicing Agreement” means that certain Amended and Restated Backup Servicing Agreement, dated as of the date hereof,
among the Backup Servicer, the Borrower, the Servicer and the Administrative Agent. 
 “Backup Servicing Fee” means the
fees payable monthly by the Borrower to the Backup Servicer pursuant to the terms of the Backup Servicing Agreement. 
 “Bail-In Action” means 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” means (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 

  
 3 

 
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” means the United States Bankruptcy Code, as amended. 

“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 0.50% and (c) the LIBOR Rate for a one month Interest Accrual 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 LIBOR Rate for any day shall be based on the LIBOR Screen Rate at approximately 11:00 a.m. London time on such day. Any change in the Base Rate due to a change in the Prime Rate, the NYFRB Rate or the LIBOR
Rate shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or the LIBOR Rate, respectively. If the Base Rate is being used as an alternate rate of interest pursuant to
Section 2.17 of the Credit Agreement (for the avoidance of doubt, only until any amendment has become effective pursuant to Section 2.17 of the Credit Agreement), then the 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, if the Base Rate as determined pursuant to the foregoing would be less than 1.00%, such rate shall be deemed to
be 1.00% for purposes of the Credit Agreement. 
 “Benchmark” means, initially, the LIBOR Base Rate; provided that
if a replacement of the Benchmark has occurred pursuant to the Section titled “Alternate Rate of Interest”, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced
such prior benchmark rate. Any reference to “Benchmark” shall include, as applicable, the published component used in the calculation thereof. 

  
 4 

 “Benchmark Replacement” means, for any Available
Tenor: (1) For purposes of clause (a), the first alternative set forth below that can be determined by the Administrative Agent: (a) the sum of: (i) Term SOFR and (ii) 0.11448% (11.448 basis points), or (b) the sum of:
(i) Daily Simple SOFR and (ii) the spread adjustment selected or recommended by the Relevant Governmental Body for the replacement of the tenor of the LIBOR Base Rate with a SOFR-based rate having approximately the same length as the
interest payment period specified in clause (a); and (2) For purposes of clause (b), the sum of (a) the alternate benchmark rate and (b) an adjustment (which may be a positive or negative value or zero), in each case, that has been
selected by the Administrative Agent and the Seller (on behalf of the Borrower) as the replacement for such Available Tenor of such Benchmark giving due consideration to any evolving or then-prevailing market convention, including any applicable
recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated or bilateral credit facilities at such time (as then applicable to this Facility); 

provided that, if the Benchmark Replacement as determined pursuant to clause (1) or (2) above would be less than zero, the
Benchmark Replacement will be deemed to be zero for the purposes of this Agreement and the other Facility Documents. 
 “Benchmark
Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definitions of “Base Rate,” “Business Day,” “Interest
Accrual Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of
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 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 Facility Documents). 
 “Benchmark Transition Event” means, with respect to any then-current
Benchmark other than the LIBOR Base Rate, the occurrence of a public statement or publication of information by or on behalf of the administrator of the then-current Benchmark, the regulatory supervisor for the administrator of such Benchmark, the
Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark, a resolution authority with jurisdiction over the administrator for such
Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark, announcing or stating that (a) such administrator has ceased or will cease on a specified date to provide all Available
Tenors of such Benchmark, 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 (b) all Available
Tenors of such Benchmark are or will no longer be representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored. 

  
 5 

 “Borrower” has the meaning assigned to such term in the preamble to the
Credit Agreement. 
 “Borrower Account” means each of the Collection Account and the Reserve Account. 

“Borrowing” has the meaning assigned to such term in Section 2.01 of the Credit Agreement. 

“Borrowing Base” means, as of any date of determination and, with respect to any Borrowing Date, as calculated after giving
effect to any Notable Receivables to be acquired by the Seller pursuant to the terms of the Transfer Agreement and subsequently sold by the Seller to the Borrower pursuant to the terms of the Purchase Agreement on such Borrowing Date, the lesser of
(a) the Commitment Amount as of such date and (b) the Net Eligible Pool Balance multiplied by the Weighted Average Advance Rate. 

“Borrowing Base Calculation Date” means, with respect to the submission of any Borrowing Base Certificate, the applicable
date identified on the Borrowing Base Certificate and used as the cut-off date for the calculation of the applicable Discounted Principal Balance of all Facility Receivables, which date shall be the end of
business on the Business Day immediately preceding the date of such Borrowing Base Certificate. 
 “Borrowing Base
Certificate” means a statement in substantially the form attached to the form of Request for Advance attached to the Credit Agreement as Exhibit A, as such form of Borrowing Base Certificate may be modified from time to time by
mutual agreement of the Borrower and the Administrative Agent. 
 “Borrowing Base Test” means a test that will be satisfied
at any time if the aggregate principal amount of Advances outstanding as of such date is less than or equal to the Borrowing Base at such time. 

“Borrowing Date” means the date of a Borrowing. 

“Business Day” means any day other than a Saturday or Sunday, provided that the following shall not constitute
Business Days (i) days on which banks are authorized or required to close in the States of New York and (ii) if the applicable Business Day relates to the advance or continuation of, or conversion into, or payment of an Advance bearing
interest at the LIBOR Rate or the determination of the LIBOR Rate, days on which banks are dealing in U.S. Dollar deposits in the interbank eurodollar market in London, England are authorized or required to be closed. 

“Cash” means Dollars that are unrestricted on the day in question. 

“Change of Control” means, at any time, (a) the Seller fails to own 100% of the Equity Interests of the Borrower at any
time free and clear of any Lien (other than the “all assets” security interest granted to the Administrative Agent), (b) Compass Concierge Holdings, LLC fails to own 100% of the Equity Interests of the Seller, (c) the Parent fails to
own 100% of the Equity Interests in Compass Concierge Holdings, LLC or (d) the occurrence of (i) a merger or consolidation of the Parent into another Person where the Parent is not the surviving entity, (ii) an event by which any
Person succeeds to all of substantially all of the properties and assets of the Parent or (iii) the 

  
 6 

 
acquisition by any “person” or “group” (as such terms are used in sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) at any time of beneficial
ownership of 51% or more of the outstanding capital stock or other equity interests of the Parent on a fully diluted basis; provided, however, that a Permitted IPO shall not constitute a Change of Control. 

“Charged-Off Receivable” shall mean a Facility Receivable that has been charged-off or deemed non-collectible by the Borrower or the Servicer consistent with Accepted Servicing Policies. 

“Closing Date” means July 31, 2020. 

“Closing Date Certificate” means a Closing Date Certificate substantially in the form of Exhibit F. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute. 

“Collateral” has the meaning assigned to such term in Section 7.01(a) of the Credit Agreement. 

“Collection Account” means any account established pursuant to Section 8.02 of the Credit Agreement
at the Account Bank, in the name of the Borrower, which account has been designated as the Collection Account and is subject to the Account Control Agreement. 

“Collection Period” means (i) with respect to the first Payment Date occurring after the Closing Date, the period
beginning on the Closing Date and ending on the last day of the calendar month immediately preceding such first Payment Date, and (ii) with respect to any other Payment Date or other date, the most recently ended calendar month. 

“Collections” means all cash collections, distributions, payments and other amounts received by the Borrower from any Person
in respect of any Facility Receivables from and including the initial Cutoff Date with respect to such Facility Receivable, including all principal, interest, if any, and repurchase proceeds payable to the Borrower under or in connection with any
such Facility Receivables and net liquidation proceeds collected by the Servicer from any sale or disposition of any such Facility Receivables and any Loan Proceeds Returns. 

“Collections Yield” means, as of any Determination Date, for the Collection Period then ended, an amount equal to
(i) the sum of (a) all Collections received during such Collection Period (excluding Collections constituting Loan Proceeds Returns), minus (b) the Principal Balance of any Facility Receivables that became Defaulted Receivables
during such Collection Period, minus (ii) the Principal Paydown for such Collection Period. 
 “Commitment”
means, as to each Lender, the obligation of such Lender to make, on and subject to the terms and conditions hereof, Advances to the Borrower pursuant to Section 2.01 of the Credit Agreement in an aggregate principal amount
at any one time outstanding for such Lender up to but not exceeding the amount set forth opposite the name of such Lender on Schedule 1 to the Credit Agreement or in the Assignment and Acceptance pursuant to which such Lender shall have
assumed its Commitment, as applicable, as such amount may be reduced from time to time pursuant to Section 2.06 of the Credit Agreement or increased or reduced from time to time pursuant to assignments effected in
accordance with Section 11.06(a) of the Credit Agreement. 

  
 7 

 “Commitment Amount” means (a) on or prior to the Commitment
Termination Date, the aggregate amount of all Commitments of all Lenders set forth on Schedule 1 to the Credit Agreement (as such amount may be reduced from time to time pursuant to Section 2.06 of the Credit
Agreement) and (b) following the Commitment Termination Date, zero. 
 “Commitment Termination Date” means the
Amortization Date; provided, that, if the Commitment Termination Date would otherwise not be a Business Day, then the Commitment Termination Date shall be the immediately preceding Business Day. 

“Compass Qualified Receivable” means, as of any Determination Date, any Notable Receivable which would have met all the
criteria of an Eligible Receivable set forth in clauses (a) through (bb) of the definition thereof (other than the criteria set forth in clauses (e)(ii), (e)(iii) and as otherwise set forth in
Section 4.1(m)(iii)(A) of the Transfer Agreement) as of the related Receivable Origination Date. For the avoidance of doubt, a Compass Qualified Receivable need not be sold to the Seller pursuant to the terms of the
Transfer Agreement and/or subsequently sold by the Seller pursuant to the terms of the Purchase Agreement; only certain Compass Qualified Receivables chosen for purchase by the Seller from the Originator meeting the definition of
“Eligible Receivable” shall be sold to the Borrower by the Seller. 
 “Concierge Capital Extensions and Payment
Arrangements Policy” means the portion of the Accepted Collections Policies relating to Loan extensions or alternative payment arrangements. 

“Concierge Capital Program” means the program whereby Notable issues loans to certain sellers of residential real estate on
the terms set forth in the First Amended and Restated Strategic Services Agreement, dated as of July 31, 2020, by and between the Seller and Notable, as amended, restated or otherwise modified. 

“Concierge Capital Underwriting Policy” shall mean, with respect to each Notable Receivable, Notable’s minimum credit
criteria and loan conditions used to originate such Loan and the related Notable Receivable through Notable’s platform, a copy or copies of which have been previously provided to the Administrative Agent and a current copy of which is attached
to the Credit Agreement as Exhibit D, as such criteria may be amended, modified or supplemented from time to time in accordance with the terms of the Credit Agreement. 

“Conduit Assignee” means, with respect to a Conduit Lender, any special purpose entity that finances its activities directly
or indirectly through asset backed commercial paper and (x) is administered by a Lender in such Conduit Lender’s Facility Group or any Affiliate of such Lender or (y) has entered into a Program Support Agreement with a Lender which is
a member of such Conduit Lender’s Facility Group or an Affiliate of such a Lender, and in either case is designated by such Conduit Lender’s conduit administrator from time to time to accept an assignment from such Conduit Lender of its
interest in the outstanding Advances; provided, however, that with respect to any Conduit Lender with a Commitment under the Credit Agreement, such Conduit Assignee must be an assignee with respect to such Commitment. 

  
 8 

 “Conduit Lender” means any commercial paper conduit administered by the
Administrative Agent or an Affiliate of the Administrative Agent, and any of its successors and assigns that are special-purpose entities that become parties to the Credit Agreement and which obtain funds to purchase financial assets (directly or
indirectly) from the issuance of CP. 
 “Constituent Documents” means, in respect of any Person, the trust agreement, the
limited liability company agreement, operating agreement, partnership agreement, joint venture agreement or other applicable agreement of formation or organization (or equivalent or comparable constituent documents) and other organizational
documents and by-laws and any certificate of trust, certificate of incorporation, certificate or articles of formation or organization, certificate of limited partnership and other agreement, similar
instrument filed or made in connection with its formation or organization, in each case, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 

“Control” means the direct or indirect possession of the power to direct or cause the direction of the management or policies
of a Person, whether through ownership, by contract, arrangement or understanding, or otherwise. “Controlled” and “Controlling” have the meaning correlative thereto. 

“CP” means the commercial paper notes issued from time to time by means of which a Conduit Lender (directly or indirectly)
obtains financing. 

  
 9 

 “CP Rate” means 

(a) for any Lender in the Facility Group with Barclays Bank PLC, for any Interest Accrual Period, the per annum rate calculated to yield the
“weighted average cost” (as defined below) for such Interest Accrual Period (or portion thereof) in respect of all CP issued by Sheffield Receivables Company LLC (“Sheffield”) then outstanding, as determined by its conduit
administrator; provided, however, that if any component of such rate is a discount rate, in calculating the CP for such Interest Accrual Period (or portion thereof) the rate resulting from converting such discount rate to an
interest-bearing equivalent rate per annum shall be used in calculating such component. As used in this definition, “weighted average cost” for any Interest Accrual Period (or portion thereof) means the sum of (i) the actual
interest accrued during such Interest Accrual Period (or portion thereof) on outstanding CP issued by Sheffield, (ii) the commissions of placement agents and dealers in respect of such CP (not to exceed five basis points per annum on the amount
of Advances made by such Conduit Lender that are funded by the issuance of CP) and (iii) other borrowings by Sheffield (as determined by its conduit administrator), including to fund small or odd dollar amounts that are not easily accommodated
in the commercial paper market; and 
 (b) for any other Conduit Lender, for the portion of the Advances funded by such Conduit Lender
directly or indirectly with CP, the rate equivalent to the weighted average cost (as determined by its conduit agent and which shall include dealer fees (not to exceed five basis points per annum on the amount of Advances made by such Conduit Lender
that are funded by the issuance of CP), incremental carrying costs incurred with respect to CP maturing on dates other than those on which corresponding funds are received by the Conduit Lender, other borrowings by the Conduit Lender to fund any
Advances under the Credit Agreement or its related commercial paper issuer if the Conduit Lender does not itself issue commercial paper (other than under any Program Support Agreement), actual costs of swapping foreign currencies into Dollars to the
extent the CP is issued in a market outside the U.S. and any other costs associated with the issuance of CP) of or related to the issuance of CP that is allocated, in whole or in part, by the Conduit Lender or its conduit agent to fund or maintain
such portion of the Advances (and which may be also allocated in part to the funding of other assets of the Conduit Lender); provided, however, that if the rate (or rates) is a discount rate, then the rate (or, if more than one rate,
the weighted average of the rates) shall be the rate resulting from converting such discount rate (or rates) to an interest-bearing equivalent rate per annum. 

(c) For the avoidance of doubt, the CP Rate may not be less than 0.00%. 

“Credit Agreement” means, the Amended and Restated Revolving Credit and Security Agreement, dated as of the date hereof,
among the Borrower, the Seller, the Administrative Agent and each of the Lenders from time to time party thereto. 
 “Cutoff
Date” has the meaning assigned to such term in the Purchase Agreement. 
 “Daily Simple SOFR” means, 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 recommended by the Relevant Governmental Body for determining
“Daily Simple SOFR” for bilateral or syndicated business loans (as then applicable to this Facility); provided, that if the Administrative Agent decides in its reasonable discretion that any such convention is not administratively
feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion. 

  
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 “Data File” means the related list of Facility Receivables in an electronic
file, in a *.CSV or other computer readable format reasonably acceptable to the Administrative Agent, containing the information described on Schedule 1 attached to this Appendix A to the Credit Agreement with respect to the related Facility
Receivables. 
 “Debtor Relief Law” shall mean, collectively, the Bankruptcy Code and all other United States federal,
State or foreign applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws from time to time in effect affecting the rights of creditors generally, as
amended from time to time. 
 “Defaulted Receivable” means, as of any date of determination, a Compass Qualified Receivable
or a Facility Receivable, as applicable, (a) for which the related Obligor is more than one hundred and eighty (180) calendar days past due on all or any portion of any payment required to be made, (1) for a Compass Qualified
Receivable or a Facility Receivable, as applicable, that is not subject to an Approved Extension or Approved Payment Plan Adjustment, pursuant to the original terms of a Loan Agreement or (2) for a Compass Qualified Receivable or a Facility
Receivable, as applicable, that is subject to an Approved Extension or Approved Payment Plan Adjustment, pursuant to the terms an Approved Extension or Approved Payment Plan Adjustment, in an amount greater than $100.00, (b) for which the related
Obligor is deceased or has become the subject of a proceeding under a Debtor Relief Law and the Borrower or the Servicer has actual knowledge of such occurrence or proceeding or (c) which constitutes a
Charged-Off Receivable and has an outstanding principal balance of more than $100.00; provided, that with respect to a Compass Qualified Receivable or a Facility Receivable, as applicable, which becomes
fully due and payable upon the occurrence of (i) clause (z)(ii) of the Eligible Receivable definition, such one hundred eighty (180) calendar day period shall begin on the date the Servicer receives notice from the Seller, the agent or the
Obligor of such expiration or cancellation and a replacement Exclusive Listing Agreement is not re-executed within the required time period or, (ii) clause (z)(iii) of the Eligible Receivable definition,
such one hundred eighty (180) calendar day period shall begin one hundred twenty (120) days following the date the Servicer receives notification from the Seller, the agent or the Obligor of the cancellation of the related Exclusive
Listing Agreement by an Affiliate of the Seller (iii) clause (z)(iv) of the Eligible Receivable definition, such period of one hundred eighty (180) calendar days shall exclude any Approved Extensions and/or Approved Payment Plan
Adjustment. 
 “Defaulting Lender” means, at any time, any Lender that (a) has failed for one (1) or more
Business Days after a Borrowing Date to fund its portion of an Advance required pursuant to the terms of the Credit Agreement (other than failures to fund as a result of a bona fide dispute as to whether the conditions to borrowing were satisfied on
the relevant Borrowing Date), (b) has notified the Borrower or the Administrative Agent in writing that it does not intend to comply with its funding obligations under the Credit Agreement, or has made a public statement to that effect (unless such
writing or public statement relates to such Lender’s obligation to fund an Advance under the Credit Agreement 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 

  
 11 

 
default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within five (5) Business Days after written request by the Administrative
Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations under the Credit Agreement (provided that such Lender shall cease to be a Defaulting Lender
pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower) or (d) has, or has a direct or indirect parent company that has voluntarily or involuntarily, (i) become the
subject of a proceeding under the Bankruptcy Code or any other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, receivership, insolvency, reorganization or similar debtor relief laws of the United States
or other applicable jurisdiction, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar person charged with reorganization or liquidation of its business or
assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or (iii) become subject of a Bail-in Action; provided that a
Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not
result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgment or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject,
repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) shall be
conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.15(b) of the Credit Agreement) upon delivery of written notice of such determination to the
Borrower and each Lender. 
 “Delayed Amount” has the meaning assigned to that term in
Section 2.02(e) of the Credit Agreement. 
 “Delayed Funding Date” has the meaning assigned to
that term in Section 2.02(e) of the Credit Agreement. 
 “Delayed Funding Notice” has the meaning
assigned to that term in Section 2.02(e) of the Credit Agreement. 
 “Delayed Funding Notice
Date” has the meaning assigned to that term in Section 2.02(e) of the Credit Agreement. 

“Delaying Lender” has the meaning assigned to that term in Section 2.02(e) of the Credit Agreement.

 “Delinquent Receivable” means, as of any date of determination, a Compass Qualified Receivable or a Facility Receivable,
as applicable (other than any Defaulted Receivable), for which the related Obligor is more than sixty (60) calendar days past due on all or any portion of any payment required to be made, (1) for a Compass Qualified Receivable or a
Facility Receivable, as applicable, that is not subject to an Approved Extension or Approved Payment Plan Adjustment, pursuant to the original terms of a Loan Agreement or (2) for a Compass Qualified Receivable or a Facility Receivable, as
applicable, that is subject to an Approved Extension or Approved 

  
 12 

 
Payment Plan Adjustment, in accordance with and as required by the terms of an Approved Extension or Approved Payment Plan Adjustment, in an amount greater than $100.00; provided, that
with respect to a Compass Qualified Receivable or a Facility Receivable, as applicable, which becomes fully due and payable upon the occurrence of (i) clause (z)(ii) of the Eligible Receivable definition, such sixty (60) calendar day
period shall begin on the date the Servicer receives notice from the Seller, the agent or the Obligor of such expiration or cancellation and a replacement Exclusive Listing Agreement is not re-executed within
the required time period, (ii) clause (z)(iii) of the Eligible Receivable definition, such sixty (60) calendar day period shall begin one hundred twenty (120) days following the date the Servicer receives notification from the Seller,
the agent or the Obligor of the cancellation of the related Exclusive Listing Agreement by an Affiliate of the Seller, or (iii) clause (z)(iv) of the Eligible Receivable definition, such sixty (60) calendar day period shall exclude any
Approved Extensions and/or Approved Payment Plan Adjustment. 
 “Determination Date” means the last day of each Collection
Period. 
 “Discount Rate” means an annual rate equal to 5.00%. 

“Discounted Principal Balance” means, as of any date of determination and with respect to a Facility Receivable, the present
value of the Principal Balance of such Facility Receivable, discounted using the Discount Rate and the number of months remaining until the maturity of such Facility Receivable. For the purposes of this calculation, the number of months remaining
until maturity means the greater of (i) 1, and (ii) the number of days from any date of determination to the 1-year anniversary of the origination of such Facility Receivable, divided by 30, and
rounded to the nearest integer. 
 “Dollars” and “$” mean lawful money of the United States. 

“Early Amortization Event” means, as of any date of determination, the occurrence and continuance of any of the following:

 (a) (i) a default by the Borrower in the payment, when due and payable, of any interest or principal (including any mandatory prepayment
under Section 2.05(b) of the Credit Agreement) or (ii) the Borrower, the Seller or the Parent, as applicable, shall fail to make any other payment, transfer or deposit (unless waived by the Administrative Agent) on the
date first required of such party under the Facility Documents and, in each case, such default or failure shall remain uncured for two (2) Business Days following receipt of written notice by the Borrower, the Seller or the Parent(which may be
by email) of such default or failure from the Administrative Agent; 
 (b) the occurrence of any Level II Trigger Event shall occur; 

(c) as of the end of any fiscal quarter commencing with the fiscal quarter ending September 30, 2020, the aggregate consolidated Tangible
Net Worth of the Parent and all of its consolidated Subsidiaries shall be less than the sum of (i) $175,000,000 and (ii) the product of 50.0% and the aggregate proceeds from any equity issued by the Parent on or after the Closing Date, as
determined by the Parent in accordance with GAAP and as reported on each Monthly Report as of the end of the applicable fiscal quarter; 

  
 13 

 (d) as of the end of any fiscal quarter commencing with the fiscal quarter ending
September 30, 2020, the Parent and its consolidated Subsidiaries shall have a ratio of Total Liabilities to Tangible Net Worth of more than 4 to 1, as determined by the Parent in accordance with GAAP and as reported on each Monthly Report as of
the end of the applicable fiscal quarter; 
 (e) (i) as of the end of any fiscal month (other than the last month of any fiscal quarter)
commencing with the fiscal month ending on September 30, 2020, the Parent and its consolidated Subsidiaries shall fail to maintain Liquidity in an amount not less than $50,000,000, which calculation shall not consider certain reconciling items
and therefore not be in accordance with GAAP and as reported on each Monthly Report as of the end of the applicable calendar month and (ii) as of the end of any fiscal quarter commencing with the fiscal quarter ending on September 30,
2020, the Parent and its consolidated Subsidiaries shall fail to maintain Liquidity in an amount not less than $50,000,000, as determined by the Parent in accordance with GAAP and as reported on each Monthly Report as of the end of the applicable
fiscal quarter; 
 (f) the occurrence of a Material Adverse Effect; 

(g) the Borrowing Base Test is not satisfied and such condition is not cured in the manner specified and within the time period set forth in
Section 2.05(b) of the Credit Agreement; 
 (h) any event that constitutes a Servicer Event of Default shall have
occurred and not been waived by the Administrative Agent in accordance with the terms of the Servicing Agreement; and 
 (i) the occurrence
of an Event of Default. 
 “Early Opt-in Effective Date” means, with respect to any
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 Majority Lenders. 

  
 14 

 “Early Opt-in Election”
means the occurrence of all of the following: 
 (a) 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 U.S. dollar-denominated bilateral or syndicated credit facilities (as then-applicable to this Facility) that 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 bilateral or syndicated credit facilities (are identified in such notice and are publicly
available for review); and 
 (b) the joint election by the Administrative Agent and the Seller (on behalf of the Borrower) to trigger a
fallback from the LIBOR Base Rate and the provision by the Administrative Agent of written notice of such election to the Lenders. 

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

“EEA Member Country” 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. 

“Eligible Investments” means any book-entry securities, negotiable instruments or securities represented by instruments in
bearer or registered form which evidence: 
 (a) direct obligations of, and obligations fully guaranteed as to timely payment by, the United
States of America, the Government National Mortgage Association, the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association or any agency or instrumentality of the United States of America, the obligations of which are
backed by the full faith and credit of the United States of America; provided, that obligations of, or guaranteed by, the Government National Mortgage Association, the Federal Home Loan Mortgage Corporation or the Federal National Mortgage
Association shall be Eligible Investments only if, at the time of investment, they have a rating from each of the Rating Agencies in the highest investment category granted thereby; 

(b) demand deposits, time deposits or certificates of deposit of any depository institution or trust company incorporated under the laws of
the United States of America or any State (or any domestic branch of a foreign bank) and subject to supervision and examination by federal or state banking or depository institution authorities (including depository receipts issued by any such
institution or trust company as custodian with respect to any obligation referred to in clause (a) above or portion of such obligation for the benefit of the holders of such depository receipts); provided, that at the time of the
investment or contractual commitment to invest therein 

  
 15 

 
(which shall be deemed to be made again each time funds are reinvested following each settlement date), the commercial paper or other short-term senior unsecured debt obligations (other than such
obligations the rating of which is based on the credit of a Person other than such depository institution or trust company) thereof shall have a credit rating from each of the Rating Agencies in the highest investment category granted thereby; 

(c) non-extendible commercial paper having, at the time of the investment, a rating from each of the
Rating Agencies then rating that commercial paper in the highest investment category granted thereby; 
 (d) investments in money market
funds having a rating from each of the Rating Agencies in the highest investment category granted thereby (including funds for which the Administrative Agent, the applicable Account Bank or any of its Affiliates is investment manager or advisor);

 (e) bankers’ acceptances issued by any depository institution or trust company referred to in clause (b) above; and 

(f) repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America
or any agency or instrumentality thereof, the obligations of which are backed by the full faith and credit of the United States of America, in each case entered into with a depository institution or trust company (acting as principal) described in
clause (b) above. 
 For purposes of the definition of “Eligible Investments,” the phrase “highest investment
category” means (i) in the case of Fitch, “AAA” for long-term investments (or the equivalent) and “F-1” for short-term investments (or the equivalent), (ii) in the case of
Moody’s, “Aaa” for long-term investments and “Prime-1” for short-term investments and (iii) in the case of S&P, “AAA” for long-term investments and “A-1” for short-term investments. A proposed investment not rated by Fitch but rated in the highest investment category by Moody’s and S&P shall be considered to be rated by each of the Rating
Agencies in the highest investment category granted thereby. In the event the rating(s) of an Eligible Investment falls below the applicable rating(s) set forth herein, the Seller shall promptly (but in no event longer than the earlier of
(x) the maturity date of such Eligible Investment and (y) 60 days from the time of such downgrade) replace such investment, at no cost to the Borrower, with an Eligible Investment which has the required ratings. 

“Eligible Pool Balance” means, on any date, the Aggregate Discounted Principal Balance of all of the Eligible Receivables on
such date. 
 “Eligible Receivable” means, as of any date of determination, a Facility Receivable that meets each of the
following criteria (unless otherwise indicated below): 
 (a) was originated in accordance with, and complies with, all material
requirements of Applicable Law in effect as of the date of such origination, and has been serviced in compliance with all material requirements of Applicable Law and if serviced following the Closing Date, in compliance with the Accepted Servicing
Policies and Accepted Collection Policies; it being agreed and understood that a requirement of Applicable Law will be considered to be material if the failure to comply with such requirements would have a material adverse effect upon the validity,
enforceability or collectability of the obligations of the Obligor under the related Loan; 

  
 16 

 (b) (i) such Facility Receivable is not subject to, nor has there been asserted, any
litigation, any arbitration or any right of rescission, set off, counterclaim or other defense of the related Obligor and (ii) to the knowledge of the Originator as of the Receivable Origination Date, the related Obligor is not subject to any
proceedings under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect; 
 (c)
with respect to any Facility Receivable whose related Loan was originated prior to the Closing Date where the related Obligor had a FICO Score of less than 820 on the date such Facility Receivable was originated, the Servicer has independently
verified that the actual Property Debt is no greater than 115% of the Property Debt stated by the related Obligor in the application for such Facility Receivable. For purposes of making such independent verification, the Servicer shall use credit
reports, lien reports and/or property records, as of the Receivable Origination Date and as available; 
 (d) with respect to any Facility
Receivable whose related Loan was originated following the Closing Date where the related Obligor had a FICO Score of less than 750 on the date such Facility Receivable was originated, either (i) the Servicer has independently verified that the
Property Debt is no greater than 110% of the Property Debt stated by the related Obligor in the application for such Facility Receivable or (ii) if the Servicer has independently verified that the Property Debt is greater than 110% of the
Property Debt stated by the related Obligor in the application for such Facility Receivable, the Servicer has otherwise determined that the Obligor is eligible for the Loan pursuant to the Concierge Capital Underwriting Policy. For purposes of
making such independent verification, the Servicer shall use credit reports, lien reports and/or property records, as of the Receivable Origination Date and as available. In the event no lien report or property record is available, the Servicer may
rely upon a written attestation from the Obligor; 
 (e) (i) such Facility Receivable has been originated by the Originator in accordance
with the Concierge Capital Underwriting Policy if originated following the Closing Date, (ii) the sale, transfer or assignment of such Facility Receivable by the Originator to the Seller pursuant to the terms of the Transfer Agreement does not
contravene or conflict in any material respect with any Applicable Law or any contractual or other restriction, limitation or encumbrance, and the sale, transfer or assignment of such Facility Receivable pursuant to the Transfer Agreement does not
require the consent of the related Obligor and (iii) such Facility Receivable has been acquired by the Seller from the Originator free and clear of any lien or adverse claim (other than Permitted Liens); 

(f) at the time of the sale, transfer or assignment of such Facility Receivable from the Seller to the Borrower pursuant to the terms of the
Purchase Agreement, (i) the Seller was the sole owner thereof and had good and marketable title thereto, free and clear of any lien (other than Permitted Liens and liens being released simultaneously with such sale, transfer and assignment)
and, immediately following the sale and transfer thereof from the Seller, the Borrower shall be the sole owner thereof and have good and marketable title thereto, free and clear of any lien (other than Permitted Liens) or adverse claim,
(ii) the representations and warranties of the Seller with respect to such Facility Receivable in the Purchase Agreement were true and correct in all material respects when made thereunder and (iii) such Facility Receivable was sold,
transferred or assigned to the Borrower by the Seller in accordance with the terms of the Purchase Agreement; 

  
 17 

 (g) such Facility Receivable represents a legal, valid and binding obligation of the related
Obligor, enforceable against such Obligor, in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable
principles relating to enforceability; 
 (h) such Facility Receivable is not evidenced by any “instrument,” “security”
or “chattel paper” (in each case, as defined in the UCC as then in effect in the State of Delaware and any other state where the filing of a financing statement is required to perfect the Borrower’s interest in the Facility Receivable
and the proceeds thereof); 
 (i) with respect to which all material consents, licenses, approvals or authorizations of, or registrations or
declarations with, any Governmental Authority required to be obtained, effected or given by the Originator or the Servicer in connection with the creation or the execution, delivery and performance of such Facility Receivable and servicing of such
Facility Receivable, or by the Seller or the Borrower in connection with its ownership of such Facility Receivable have been duly obtained, effected or given and are in full force and effect; it being agreed and understood that (for the avoidance of
doubt) any such required consents, licenses, approvals or authorizations of, or registrations or declarations with, any Governmental Authority will be considered to be material if the failure to obtain such consents, licenses, approvals or
authorizations of, or registrations or declarations with, any Governmental Authority would be reasonably expected to have a material adverse effect upon the value, enforceability or collectability of the obligations of the Obligor under such
Facility Receivable; 
 (j) constitutes a “payment intangible,” “general intangible” or “account” (in each
case, as defined in the UCC as then in effect in the State of Delaware and any other state where the filing of a financing statement is required to perfect the Borrower’s interest in the Facility Receivable and the proceeds thereof); 

(k) is denominated and payable in Dollars and is payable in any state or territory of the United States; 

(l) is an obligation of an Obligor that, as of the Receivable Origination Date, (i) had a residential address within the United States or
a U.S. territory, or a U.S. military mailing address, (ii) has a U.S. social security number and (iii) is not a Governmental Authority; 

(m) such Facility Receivable is not a Delinquent Receivable; 

(n) such Facility Receivable is not a Defaulted Receivable; 

(o) such Facility Receivable complies with the Underwriting Criteria set forth on Schedule 2 to this Appendix A to the Credit
Agreement; 
 (p) (i) is not contingent in any respect for any reason and there are no conditions precedent to the enforceability or
validity of such Facility Receivable that have not been satisfied or waived (for the avoidance of doubt, the potential for a reduction of the Principal Balance based 

  
 18 

 
upon disbursement to the Obligor of less than the full amount of the related Loan shall not be a contingency or condition precedent) and (ii) has not been satisfied, subordinated or
rescinded and no right of rescission, setoff, counterclaim or defense has been asserted by the Obligor or, to the Borrower’s actual knowledge, overtly threatened in writing with respect to such Facility Receivable; 

(q) it is not a Negative Legal Development Receivable; 

(r) to the Borrower’s actual knowledge, such Facility Receivable is not evidenced by a judgment and has not been reduced to judgment;

 (s) to the Borrower’s actual knowledge, no fraud, with respect to such Facility Receivable (and each Related Document evidencing
such Facility Receivable) has taken place on the part of any Person, including the related Obligor or any other party involved in the origination or purchase of the Facility Receivable to affect the Facility Receivable in any material respect; 

(t) no instrument of release or waiver has been executed in connection with such Facility Receivable or any Related Document evidencing such
Facility Receivable, and the Obligor has not been released from its obligations under such Facility Receivable in whole, or in part 
 (u)
such Facility Receivable is not a Modified Receivable; 
 (v) the Related Documents evidencing such Facility Receivable are being held in
accordance with the Servicing Agreement; 
 (w) such Facility Receivable does not constitute a renewal or extension of any Ineligible
Receivable; 
 (x) such Facility Receivable is not a revolving line of credit or similar facility; 

(y) no other Facility Receivables relating to the related Loan (i) have been sold by the Originator to a Person other than the Seller
pursuant to the terms of the Transfer Agreement and (ii) have been sold by the Seller to a Person other than the Borrower pursuant to the terms of the Purchase Agreement; 

(z) pursuant to the terms of the related Loan Agreement, and absent the enactment of any contravening Applicable Law, such Facility Receivable
is fully due and payable on the earliest to occur of (i) the closing of the sale of the related Property, (ii) expiration or cancellation by the Obligor of his or her related Exclusive Listing Agreement and failure to re-execute another Exclusive Listing Agreement within ten (10) Business Days, (iii) the date that is one hundred twenty (120) days following the cancellation of the related Exclusive Listing Agreement
by an Affiliate of Seller and (iv) the date that is no more than twelve (12) months from the initial disbursement of the Facility Receivable; 

(aa) pursuant to the terms of the related Loan Agreement, the related Obligor agreed that such Obligor intends to use the proceeds of the
related Loan for the purpose of making certain improvements to the related Property in order to maximize its value prior to sale; and 

  
 19 

 (bb) no Receivable Subsequent Draw Amounts relating to such Facility Receivable
(i) have been sold by the Originator to a Person other than the Seller pursuant to the terms of the Transfer Agreement and (ii) have been sold by the Seller to a Person other than the Borrower pursuant to the terms of the Purchase
Agreement. 
 “Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited
liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations
promulgated and rulings issued thereunder. 
 “ERISA Event” means (a) any “reportable event,” as defined in
Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the thirty (30) day notice requirement is waived); (b) the failure with respect to any Plan to satisfy the “minimum
funding standard” (as defined in Section 412 of the Code or Section 302 of ERISA); (c) the filing pursuant to Section 412(c) of the Code or Section 302 of ERISA of an application for a waiver of the minimum funding standard
with respect to any Plan; (d) a determination that any Plan is, or is expected to be, in “at risk” status (as defined in Section 430 of the Code or Section 303 of ERISA); (e) the incurrence by the Borrower or any member of
its ERISA Group of any liability under Title IV of ERISA with respect to the termination of any Plan; (f) (i) the receipt by the Borrower or any member of its ERISA Group from the PBGC of a notice of determination that the PBGC intends to seek
termination of any Plan or to have a trustee appointed for any Plan, or (ii) the filing by the Borrower or any member of its ERISA Group of a notice of intent to terminate any Plan; (g) the incurrence by the Borrower or any member of its
ERISA Group of any liability (i) with respect to a Plan pursuant to Sections 4063 and 4064 of ERISA, (ii) with respect to a facility closing pursuant to Section 4062(e) of ERISA, or (iii) with respect to the withdrawal or partial
withdrawal from any Multiemployer Plan; (h) the receipt by the Borrower or any member of its ERISA Group of any notice concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, in
endangered status or critical status, within the meaning of Section 432 of the Code or Section 305 of ERISA or is or is expected to be insolvent or in reorganization, within the meaning of Title IV of ERISA; or (i) the failure of the
Borrower or any member of its ERISA Group to make any required contribution to a Multiemployer Plan. 
 “ERISA Group” means
each controlled group of corporations or trades or businesses (whether or not incorporated) under common control that is treated as a single employer under Section 414(b), (c), (m) or (o) of the Code with the Borrower. 

“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. 

“Eurocurrency Liabilities” is defined in Regulation D of the Board of Governors of the Federal Reserve System, as in effect
from time to time. 

  
 20 

 “EU Securitisation Regulation” means Regulation (EU) 2017/2402 of the
European Parliament and of the Council of December 12, 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation and amending certain other European Union
directives and regulations, as amended and in effect from time to time, together with all relevant regulatory and/or implementing technical standards applicable in relation thereto, and, in each case, any relevant guidance and directions
published in relation thereto by any relevant regulatory authority or by the European Commission. 
 “EUWA” means the
European Union (Withdrawal) Act 2018, as amended. 
 “Event of Default” means the occurrence of any of the events, acts or
circumstances set forth in Section 6.01 of the Credit Agreement. 
 “Excess Concentration Amount”
means, on any date of determination, the sum (without duplication) of the following amounts: 
 (a) the amount by which the Aggregate
Discounted Principal Balance of the Eligible Receivables related to Obligors with a FICO Score of between 650 and 700 exceeds 20.00% of the Eligible Pool Balance on such date; 

(b) the smallest Aggregate Discounted Principal Balance of the Eligible Receivables that would need to be excluded from the Borrowing Base in
order to cause the Weighted Average FICO Score of the Obligors related to the Eligible Receivables to be greater than or equal to 735 on such date; 

(c) the amount by which the Aggregate Discounted Principal Balance of the Eligible Receivables with respect to which the Receivable Obligor
Origination State is California exceeds 70.00% of the Eligible Pool Balance on such date; 
 (d) the amount by which the Aggregate
Discounted Principal Balance of the Eligible Receivables with respect to which the Receivable Obligor Origination State is a single state (other than California) exceeds 20.00% of the Eligible Pool Balance on such date; 

(e) the amount by which the Aggregate Discounted Principal Balance of the Eligible Receivables with a Receivable Original Amount of equal to
or greater than $75,000 and equal to or less than $150,000 exceeds 10.00% of the Eligible Pool Balance on such date; 
 (f) the amount by
which the Aggregate Discounted Principal Balance of the Eligible Receivables originated two hundred and ten (210) days but less than or equal to three hundred and ninety-five (395) days prior to such date of determination (for the
avoidance of doubt, excluding Delinquent Receivables) exceeds 35.00% of the Eligible Pool Balance on such date; 
 (g) the amount by which
the Aggregate Discounted Principal Balance of the Eligible Receivables originated three hundred (300) days but less than or equal to three hundred and ninety-five (395) days prior to such date of determination (for the avoidance of doubt,
excluding Delinquent Receivables) exceeds 20.00% of the Eligible Pool Balance on such date; and 

  
 21 

 (h) the amount by which the Aggregate Discounted Principal Balance of the Eligible
Receivables that have received an Approved Extension and/or an Approved Payment Plan Adjustment exceeds 7.50% of the Eligible Pool Balance on such date. 

“Excess Concentration Receivable” means, as of any date of determination, an Eligible Receivable with respect to which some
or all of the related Discounted Principal Balance is included in the Excess Concentration Amount as of such date. 
 “Excess Spread
Percentage” means, as of any Determination Date, for the Collection Period then ended, the ratio (expressed as a percentage) of: 

(a) the sum of (i) the Collections Yield during such Collection Period, minus (ii) the sum of the amounts due and owing under
clauses (i) and (ii) under Section 9.01 of the Credit Agreement (excluding the Unused Fees (if any)) on the Payment Date following such Collection Period; divided by 

(b) the average of the beginning and ending Aggregate Discounted Principal Balance of all Facility Receivables during such Collection Period.

 “Exclusive Listing Agreement” means the “Exclusive Listing Agreement” entered into between a licensed real
estate brokerage entity that is an Affiliate of the Seller and the related Obligor. 
 “Facility” as defined in the
recitals to the Credit Agreement. 
 “Facility Delinquency Percentage” means, for any Collection Period, (a) the
Aggregate Discounted Principal Balance of all Delinquent Receivables which are Facility Receivables on the last calendar day of such Collection Period, but excluding (i) any Defaulted Receivables which are Facility Receivables (including any
Delinquent Receivables repurchased as provided in the Transfer Agreement or repurchased by the Seller at the Seller’s election) and (ii) any Facility Receivables relating to Property that was not sold within three hundred and sixty-five
(365) days of the related origination date as of the end of such Collection Period, divided by (b) the Aggregate Discounted Principal Balance of all Facility Receivables on the last calendar day of such Collection Period (excluding
any Facility Receivables relating to Property that was not sold within three hundred and sixty-five (365) days of the related origination date). 

“Facility Documents” means the Credit Agreement, the Transfer Agreement, the Purchase Agreement, the Servicing Agreement, the
Backup Servicing Agreement, the Account Control Agreement, the Fee Letter and any other security agreements and other instruments entered into or delivered by or on behalf of the Borrower pursuant to Section 7.07 of the
Credit Agreement to create, perfect or otherwise evidence the Administrative Agent’s security interest. For the avoidance of doubt, “Facility Documents” shall not include the Performance Guaranty. 

“Facility Receivable” means a Notable Receivable sold to the Seller pursuant to the terms of the Transfer Agreement and
subsequently sold by the Seller to the Borrower pursuant to the terms of the Purchase Agreement. For the avoidance of doubt, the Originator is not selling the related Loan to the Seller for subsequent sale to the Borrower. 

  
 22 

 “Facility Group” means Barclays Bank PLC, any other Lender with a
Commitment under the Credit Agreement and its related Conduit Lenders (if any) and the Program Support Providers related to any such Conduit Lenders, as applicable. 

“FATCA” means the Code Sections 1471 through 1474, as of the date of the Credit Agreement (or any amended or successor
version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any intergovernmental agreements entered into in connection therewith, any agreements
entered into pursuant to Section 1471(b)(1) of the Code and any current or future regulations, revenue ruling, revenue procedure, notice or similar guidance issued by the IRS thereunder or any official interpretations of the foregoing. 

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal
funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (i) if such day
is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (ii) if no such rate is so published on such next
succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1.00%) charged to the Administrative Agent on such day on such transactions as determined by the
Administrative Agent. The Federal Funds Rate may not be less than 0.00%. 
 “Federal Reserve Bank of New York’s
Website” means the website of the NYFRB at http://www.newyorkfed.org, or any successor source. 
 “Fee Letter”
means that certain Amended and Restated Fee Letter, dated as of the date hereof, between the Borrower and the Administrative Agent. 

“FICO Score” means, with respect to the Obligor of a Notable Receivable, the statistical credit score of such Obligor based
on methodology developed by Fair Isaac Corporation, determined as of a date permitted by the Concierge Capital Underwriting Policy in connection with the origination of such Notable Receivable. 

“Final Maturity Date” means the earliest of (a) the date that is one hundred and eighty (180) days following the
Amortization Date, (b) the date of the termination of the Commitments and the acceleration of the Advances pursuant to Section 6.02 of the Credit Agreement, (c) the date specified by the Borrower in its sole
discretion upon 30 days’ prior written notice to the Administrative Agent or (d) the date on which all Obligations shall have been paid in full and all other amounts payable to the Administrative Agent and the Lenders under the Facility
Documents shall have been paid in full and the Commitments have terminated under the Credit Agreement (other than contingent indemnification obligations for which a claim has not been asserted). 

“Final Payout Date” means the later of (i) the date on which all Obligations have been paid in full (other than any
contingent indemnification obligations of the Borrower under the Facility Documents for which a claim has not been asserted) and (ii) the date on which the Credit Agreement is terminated. 

  
 23 

 “Fitch” means Fitch, Inc., together with its successors. 

“GAAP” means generally accepted accounting principles in effect from time to time in the United States. 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, quasi-regulatory authority, administrative tribunal, central bank, public office, court or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of government, including the United States Securities and Exchange Commission, the stock exchanges, any Federal, state, territorial, county, municipal or other government or governmental agency, board, body, branch, bureau, commission,
court, department, instrumentality or other political unit or subdivision or other entity of any of the foregoing, whether domestic or foreign. 

“Governmental Authorization” means any permit, license, authorization, plan, directive, consent order or consent decree of or
from any Governmental Authority. 
 “Indebtedness” means for any Person (without duplication) (a) all indebtedness
created, assumed or incurred in any manner by such Person representing borrowed money (including by the issuance of debt securities), (b) all indebtedness for the deferred purchase price of property or services (other than trade payables and accrued
expenses arising in the ordinary course of business), (c) all indebtedness secured by any Lien upon property of such Person, whether or not such Person has assumed or become liable for the payment of such indebtedness; provided that, if such
Person has not assumed or become liable for the payment of such indebtedness, the amount of such Indebtedness shall be limited to the lesser of (i) the principal amount of the indebtedness being secured and (ii) the fair market value (as
estimated by such Person in good faith) of the encumbered property, (d) all capitalized lease obligations of such Person, (e) all obligations of such Person on or with respect to drawn letters of credit, bankers’ acceptances and other
extensions of credit, (f) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any equity interest in such Person or any other Person or any warrant, right or option to acquire such
equity interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends, (g) all net obligations (determined as of any time based on the
termination value thereof) of such Person under any interest rate, foreign currency, and/or commodity swap, exchange, cap, collar, floor, forward, future or option agreement, or any other similar interest rate, currency or commodity hedging
arrangement, as estimated by such Person in good faith, and (h) all guarantees of such Person in respect of any of the foregoing. For the avoidance of doubt, Indebtedness shall exclude any obligations under operating leases that would be
included in Indebtedness under the new accounting lease standard ASC 842. 
 “Indemnified Party” has the meaning assigned
to such term in Section 11.04(b) of the Credit Agreement. 
 “Independent Director” means one or
more employees of Global Securitization Services, LLC or another natural person meeting the qualifications set forth in Section 5.02(x) of the Credit Agreement. 

  
 24 

 “Ineligible Receivable” means, as of any date of determination, a Facility
Receivable that fails to satisfy one or more criterion of the definition of “Eligible Receivable” after the date of acquisition thereof by the Borrower. 

“Insolvency Event” means, with respect to a specified Person, (a) the filing of a decree or order for relief by a court
having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under the Bankruptcy Code or any other applicable insolvency law now or hereafter in effect, or appointing a receiver,
liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding up or liquidation of such Person’s affairs, and such decree or order shall remain
unstayed and in effect for a period of sixty (60) consecutive days; or (b) the commencement by such Person of a voluntary case under the Bankruptcy Code or any other applicable insolvency law now or hereafter in effect, or the consent by
such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar
official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due. 

“Interest” means, for each day during an Interest Accrual Period and each Advance, on such day, the sum of the products (for
each day during such Interest Accrual Period) of: 
 IR x P x 1/D 

where: 
  

					
	 IR
	 	=	  	the Interest Rate, as applicable, on such day;
			
	 P
	 	=	  	the principal amount of such Advance, as applicable, on such day; and
			
	 D
	 	=	  	360.

 “Interest Accrual Period” means, (i) with respect to the initial Payment Date, the
period beginning on, and including, August 1, 2020 and ending on, and including, August 31, 2020 and (ii) with respect to any other Payment Date, the period beginning on, and including, the first day of the most recently ended
calendar month and ending on, and including, the last day of the most recently ended calendar month; provided, that the final Interest Accrual Period shall end on the Final Maturity Date. 

“Interest Rate” means, for any Interest Accrual Period and for each Advance outstanding made by a Lender for each day during
such Interest Accrual Period: 
 (a) so long as no Event of Default has occurred and is continuing (and which has not otherwise been waived
by the Lenders pursuant to the terms hereof), 

  
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 (i) if a Conduit Lender funds (directly or indirectly) its portion of the
Advances with CP or if such Lender is a Lender in the Barclays Bank PLC Facility Group, a rate equal to the applicable CP Rate plus the Applicable Margin; and 

(ii) if a Lender (other than Barclays Bank PLC) funds its portion of the Advances other than with CP, the applicable LIBOR Rate
(or, if LIBOR Rate is not available, the applicable Base Rate until a Benchmark Replacement is determined) plus the Applicable Margin; and 

(b) if an Event of Default has occurred and is continuing (and which has not otherwise been waived by the Lenders pursuant to the terms
hereof), a rate equal to the Post-Default Rate. 
 “Investment Company Act” means the Investment Company Act of 1940, as
amended, and the rules and regulations promulgated thereunder. 
 “IRS” means the U.S. Internal Revenue Service, or any
successor agency. 
 “Lenders” means, collectively, the Persons listed on Schedule 1 and any other Person that shall
have become a party hereto in accordance with the terms hereof pursuant to an Assignment and Acceptance, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Acceptance and each individually, a
“Lender.” 
 “Level I Trigger Event” means, a breach of any of the collateral performance tests listed
below. The collateral performance tests listed below will be tested as of the last Business Day of each Collection Period (unless indicated otherwise) and reported to the Administrative Agent and the Lenders on each Monthly Report. 

(a) (i) with respect to the initial Collection Period, the Facility Delinquency Percentage for such Collection Period exceeds 3.0%, (ii) with
respect to the second Collection Period following the Closing Date, the average Facility Delinquency Percentage for such Collection Period and the initial Collection Period exceeds 3.0% or (iii) with respect to the third Collection Period
following the Closing Date and any Collection Period thereafter, the average Facility Delinquency Percentage for such Collection Period and the two Collection Periods immediately prior to such Collection Period exceeds 3.0%; 

(b) (i) with respect to the initial Collection Period, the Managed Portfolio Delinquency and Extension Percentage for such Collection Period
exceeds 15.0%, (ii) with respect to the second Collection Period following the Closing Date, the average Managed Portfolio Delinquency and Extension Percentage for such Collection Period and the initial Collection Period exceeds 15.0% or
(iii) with respect to the third Collection Period following the Closing Date and any Collection Period thereafter, the average Managed Portfolio Delinquency and Extension Percentage for such Collection Period and the two Collection Periods
immediately prior to such Collection Period exceeds 15.0%; and 

  
 26 

 (c) (i) with respect to the fourth Collection Period following the Closing Date, the Monthly
Payment Rate for such Collection Period is less than 10.0%, (ii) with respect to the fifth Collection Period following the Closing Date, the average Monthly Payment Rate for such Collection Period and the fourth Collection Period following the
Closing Date is less than 10.0% or (iii) with respect to the sixth Collection Period following the Closing Date and any Collection Period thereafter, the average Monthly Payment Rate for such Collection Period and the two Collection Periods
immediately prior to such Collection Period is less than 10.0%. 
 “Level II Trigger Event” means, a breach of any of the
collateral performance tests listed below. The collateral performance tests listed below will be tested as of the last Business Day of each Collection Period (unless indicated otherwise) and reported to the Administrative Agent and the Lenders on
each Monthly Report. 
 (a) (i) with respect to the initial Collection Period, the Facility Delinquency Percentage for such Collection
Period exceeds 5.0%, (ii) with respect to the second Collection Period following the Closing Date, the average Facility Delinquency Percentage for such Collection Period and the initial Collection Period exceeds 5.0% or (iii) with respect to
the third Collection Period following the Closing Date and any Collection Period thereafter, the average Facility Delinquency Percentage for such Collection Period and the two Collection Periods immediately prior to such Collection Period exceeds
5.0%; 
 (b) (i) with respect to the initial Collection Period, the Managed Portfolio Delinquency and Extension Percentage for such
Collection Period exceeds 20.0%, (ii) with respect to the second Collection Period following the Closing Date, the average Managed Portfolio Delinquency and Extension Percentage for such Collection Period and the initial Collection Period exceeds
20.0% or (iii) with respect to the third Collection Period following the Closing Date and any Collection Period thereafter, the average Managed Portfolio Delinquency and Extension Percentage for such Collection Period and the two Collection
Periods immediately prior to such Collection Period exceeds 20.0%; 
 (c) (i) with respect to the fourth Collection Period following the
Closing Date, the Monthly Payment Rate for such Collection Period is less than 8.0%, (ii) with respect to the fifth Collection Period following the Closing Date, the average Monthly Payment Rate for such Collection Period and the fourth Collection
Period following the Closing Date is less than 8.0% or (iii) with respect to the sixth Collection Period following the Closing Date and any Collection Period thereafter, the average Monthly Payment Rate for such Collection Period and the two
Collection Periods immediately prior to such Collection Period is less than 8.0%; 
 (d) (i) with respect to the fourth Collection Period
following the Closing Date, the Excess Spread Percentage for such Collection Period does not exceed 0.0%, (ii) with respect to the fifth Collection Period following the Closing Date, the average Excess Spread Percentage for such Collection Period
and the fourth Collection Period following the Closing Date does not exceed 0.0% or (iii) with respect to the sixth Collection Period following the Closing Date and any Collection Period thereafter, the average Excess Spread Percentage for such
Collection Period and the two Collection Periods immediately prior to such Collection Period does not exceed 0.0%. 

  
 27 

 “LIBOR Base Rate” means, for any day during an Interest Accrual Period for
any Lender, the LIBOR Screen Rate at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Accrual Period. 

“LIBOR Rate” for any day during an Interest Accrual Period for any Lender, means, an interest rate per annum (rounded
upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBOR Base Rate for such Interest Accrual Period multiplied by (b) the Statutory Reserve Rate. 

“LIBOR Screen Rate” means, for any day during an Interest Accrual Period for any Lender, the London interbank offered rate as
administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for U.S. Dollars for a three month period as displayed on such day and time 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); provided that if the LIBOR Screen Rate as so determined would be less than zero, such rate shall be deemed to zero for the purposes of the Credit
Agreement. 
 “Lien” means any mortgage, pledge, hypothecation, assignment, encumbrance, lien or security interest
(statutory or other), or preference, priority or other security agreement, charge or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any financing lease having
substantially the same economic effect as any of the foregoing, and the filing authorized by the Borrower of any financing statement under the UCC or comparable law of any jurisdiction). 

“Liquidity” means Unrestricted Cash. 

“Loan” means an unsecured consumer loan. 

“Loan Agreement” means the Notable Disclosure & Loan Agreement relating to a Notable Receivable and entered into
between the Originator and the related Obligor. 
 “Loan Proceeds Returns” means, with respect to any Facility Receivable,
returns of the proceeds of such Facility Receivable following the return of the related financed merchandise or refund and/or cancellation of related financed services. 

“Majority Lenders” means, as of any date of determination, (i) if there is only one Lender or if no Lender is a
Defaulting Lender, one or more Lenders having aggregate Percentages greater than 50%, or (ii) if there is more than one Lender and any such Lender is a Defaulting Lender, one or more Non-Defaulting
Lenders whose aggregate Advances represent greater than 50% of the aggregate outstanding principal balance of all Advances of Non-Defaulting Lenders. 

“Managed Portfolio Delinquency and Extension Percentage” means, with respect to any Collection Period, the ratio (expressed
as a percentage) of (i) the aggregate principal balance of all Compass Qualified Receivables that are Delinquent Receivables (for the avoidance of doubt, excluding any Defaulted Receivables) as of the last day of such Collection Period,
divided by (ii) the aggregate principal balance of all Compass Qualified Receivables as of the last day of such Collection Period. 

  
 28 

 “Margin Stock” has the meaning assigned to such term in Regulation U. 

“Material Adverse Effect” means (i) with respect to all Facility Documents (other than the Servicing Agreement), a
material adverse effect on (a) the business, assets, condition (financial or otherwise), operations, performance or properties of the Borrower, the Seller or the Servicer, each individually or taken as a whole, (b) the validity or
enforceability of the Credit Agreement or any other Facility Document, (c) the validity, enforceability or collectability of any material portion of the Facility Receivables, (d) the rights and remedies of the Administrative Agent, the
Lenders and the Secured Parties with respect to matters arising under the Credit Agreement or any other Facility Document, (e) the ability of any of the Borrower, the Seller or the Servicer to perform its obligations under any Facility Document
to which it is a party, or (f) the existence, perfection, priority or enforceability of the Administrative Agent’s Lien on the Collateral, (ii) with respect to the Servicing Agreement, a material adverse effect on (a) the
collectability or value of the Facility Receivables being serviced thereunder or (b) the ability of the Servicer to perform its obligations under the Servicing Agreement and (iii) with respect to the Performance Guaranty, a material
adverse effect on the ability of the Parent to perform its obligations under the Performance Guaranty. 
 “Maximum Remaining
Term” means, as of any date of determination and with respect to any Notable Receivable, the maximum number of months remaining (rounded to the nearest whole month) until the principal amount of such Notable Receivable is due and payable in
full. 
 “Modified Receivable” means a Notable Receivable which, at any time, (i) was past due or in default and which
such delinquency or default was cured by waiving, extending, adjusting or amending the contract terms or accepting a reduced payment or (ii) has had its contract terms waived, extended, adjusted or amended with the intent of avoiding a
delinquency or default. For the avoidance of doubt, (a) a Facility Receivable that has received (x) a single Approved Extension or, (y) a single Approved Payment Plan Adjustment or (z) a single Approved Extension and a single
Approved Payment Plan Adjustment (in that order) and the duration of the aggregate extensions shall not extend such Facility Receivable by more than one hundred eighty (180) days, in each case, shall not constitute a “Modified
Receivable” and (b) a Facility Receivable that has received (x) more than one Approved Extension, (y) more than one Approved Payment Plan Adjustment or (z) both an Approved Extension and an Approved Payment Plan Adjustment
and the duration of the aggregate extensions exceed one hundred and eighty (180) days, in each case, shall constitute a “Modified Receivable.” 

“Money” has the meaning specified in Section 1-201(b)(24) of the UCC. 

“Monthly Payment Rate” means, for any Collection Period, the ratio of (a) all Collections received by the Servicer in
respect of the Principal Balance of each Facility Receivable during such Collection Period to (b) the average of the beginning and ending aggregate Principal Balance of all Facility Receivables during such Collection Period; provided,
that such calculations shall exclude Collections constituting Loan Proceeds Returns. 

  
 29 

 “Monthly Report” means the monthly report and an updated Data File
including the required information with respect to each Compass Qualified Receivable owned by the Borrower as of the prior month Determination Date, each in a form reasonably acceptable to the Administrative Agent and provided prior to the last day
of the initial Collection Period. 
 “Monthly Reporting Date” means, with respect to any Payment Date, the twelfth (12th) calendar day following the end of each calendar month, or if such day is not a Business Day, the immediately following Business Day. 

“Moody’s” means Moody’s Investors Service, Inc., together with its successors. 

“Multiemployer Plan” means an employee pension benefit plan within the meaning of Section 4001(a)(3) of ERISA that is
sponsored by the Borrower or a member of its ERISA Group or to which the Borrower or a member of its ERISA Group is obligated to make contributions or has any liability. 

“Negative Legal Development Receivable” means, as of any date of determination, a Notable Receivable that is subject to a
Regulatory Event as of such date. 
 “Net Eligible Pool Balance” means, as of any date of determination, an amount equal to
the excess of (i) the Eligible Pool Balance, over (ii) the Excess Concentration Amounts, if any, in each case as of such date. 

“Net Home Equity” means, with respect to any Notable Receivable, an amount equal to the sum of (i) 85.00% of the listing
price as of the Receivable Origination Date of the Property relating to such Notable Receivable, minus (ii) any existing debt relating to such Property. 

“New Lending Office” has the meaning given in Section 11.03(d) of the Credit Agreement. 

“Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting Lender.

 “Notable” means Notable Finance, LLC. 

“Notable Receivable” means the obligation of an Obligor under a Loan Agreement to make payments on the related Loan which was
originated by Notable in connection with the Concierge Capital Program. 
 “Notice of Prepayment” has the meaning assigned
to such term in Section 2.05 of the Credit Agreement. 
 “NYFRB” means the Federal Reserve Bank
of New York. 
 “NYFRB Rate” means, for any day, the greater of (a) the Federal Funds 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 

  
 30 

 
the aforesaid rates as so determined be less than zero, such rate shall be deemed to be zero for purposes of the Credit Agreement. 

“Obligations” means all indebtedness, whether absolute, fixed or contingent, at any time or from time to time owing by the
Borrower to any Secured Party or any Affected Person under or in connection with the Credit Agreement or any other Facility Document, including all amounts payable by the Borrower in respect of the Advances, with interest thereon, and all fees,
expenses and other amounts payable under the Credit Agreement or under any other Facility Document. 
 “Obligor” means, in
respect of any Loan and the related Notable Receivable, the individual natural Person primarily obligated to make payments in respect of the principal, interest, if any, and any fees due under such Loan and the related Notable Receivable. 

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

“Originator” means Notable, in its capacity as “Originator” under the Transfer Agreement, or any other Person
acting as seller under the Transfer Agreement and that has been approved in writing by the Administrative Agent in its sole discretion. 

“Other Connection Taxes” has the meaning given in Section 11.03(a) of the Credit Agreement. 

“Other Taxes” has the meaning given in Section 11.03(b) of the Credit Agreement. 

“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight LIBOR
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 Federal Reserve Bank of New York’s Website from time to time, and published on the next
succeeding Business Day by the NYFRB as an overnight bank funding rate. 
 “Parent” means Compass, Inc. f/k/a Urban
Compass, Inc. 
 “Participant” means any Person to whom a participation is sold as permitted by
Section 11.06(d) of the Credit Agreement. 
 “PATRIOT Act” has the meaning assigned to such term
in Section 11.16 of the Credit Agreement. 
 “Payment Date” means (a) the twenty-second
(22nd) calendar day following the end of each calendar month, or if such day is not a Business Day, the immediately following Business Day, beginning in the month of September 2020 and (b) the Final Maturity Date. 

“PBGC” means the Pension Benefit Guaranty Corporation, or any successor agency or entity performing substantially the same
functions. 
 “Percentage” of any Lender means, (a) with respect to any Lender party hereto on the date hereof, the
percentage set forth opposite such Lender’s name on Schedule 1 to the Credit Agreement, as such amount is reduced by any Assignment and Acceptance entered into by such 

  
 31 

 
Lender with an assignee or increased by any Assignment and Acceptance entered into by such Lender with an assignor, or (b) with respect to a Lender that has become a party hereto pursuant to
an Assignment and Acceptance, the percentage set forth therein as such Lender’s Percentage, as such amount is reduced by an Assignment and Acceptance entered into between such Lender and an assignee or increased by any Assignment and Acceptance
entered into by such Lender with an assignor. 
 “Performance Guarantor” means, the Parent. 

“Performance Guaranty” means that certain Performance Guaranty, dated as of the Closing Date, by the Performance Guarantor in
favor of the Secured Parties. 
 “Permitted Asset Sale” means each of the following: 

(a) the sale and transfer by the Borrower to the Seller of any Excess Concentration Receivable; 

(b) the sale and transfer by the Borrower to the Seller or any other Person of any Charged-Off
Receivables; and 
 (c) in connection with any optional prepayment of the Advances pursuant to Section 2.05(a) of
the Credit Agreement, the sale and transfer to the Seller of any Facility Receivables identified for release by the Borrower so long as (i) such Facility Receivables are substantially and contemporaneously sold by the Seller (or an Affiliate
thereof), without recourse, to a special-purpose third party purchaser in connection with the closing of a securitization transaction and (ii) the Borrower certifies that such Facility Receivables were not selected pursuant to procedures
designed to be adverse to the Administrative Agent or the Lenders. 
 “Permitted Assignee” means (i) a Lender (other
than any Defaulting Lender) or any of its Affiliates, (ii) any commercial paper conduit administered by the Administrative Agent or an Affiliate of the Administrative Agent and (iii) any Conduit Lender and any of its Program Support
Providers or Conduit Assignees. 
 “Permitted IPO” means any transactions or actions taken in connection with and
reasonably related to an equity issuance by the Parent or an Affiliate consisting of a primary public offering of its common stock pursuant to an effective registration statement filed with the Securities and Exchange Commission in accordance with
the Securities Act of 1933 as amended (whether alone or in connection with a secondary public offering), including any direct listing. 

“Permitted Liens” means the following: (a) Liens in favor of the Administrative Agent granted pursuant to the Credit
Agreement or any other Facility Document; (b) Liens for taxes, assessments and governmental charges not yet due or the payment of which is being contested in good faith and by appropriate proceedings and for which adequate reserves are
maintained in accordance with GAAP; (c) Liens imposed by law, such as carriers’, warehousemen’s, mechanics’, materialmens’ and other similar Liens arising in the ordinary course of business and securing obligations (other
than Indebtedness for borrowed money) that are not overdue by more than 45 days or are being contested in good faith and by appropriate proceedings promptly initiated and diligently conducted, and for which reserves are maintained in accordance with
GAAP; (d) 

  
 32 

 
deposits and pledges of cash securing (i) obligations incurred in respect of workers’ compensation, unemployment insurance or other forms of governmental insurance benefits,
(ii) the performance of bids, tenders, leases, contracts (other than for the payment of money) and statutory obligations or (iii) obligations on surety or appeal bonds, but only to the extent such deposits or pledges are made or otherwise
arise in the ordinary course of business and secure obligations that are not past due and do not exceed $250,000 in the aggregate; (e) judgment Liens not resulting in an Event of Default under Section 6.01(h) of the
Credit Agreement; and (f) (i) Liens in favor of collecting banks arising under Section 4-210 of the UCC or any similar law, and (ii) Liens arising solely by virtue of any contractual, statutory
or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies and burdening only deposit accounts or other funds maintained in the ordinary course of business with
such creditor depository institution, provided that no such deposit account is subject to restrictions against access by the depositor in excess of those set forth by regulations promulgated by bank regulators and no such deposit account serves as
collateral to any Person other than the Administrative Agent. 
 “Person” means an individual or a corporation (including a
business trust), partnership, trust, incorporated or unincorporated association, joint stock company, limited liability company, government (or an agency or political subdivision thereof) or other entity of any kind. 

“Plan” means an employee pension benefit plan (other than a Multiemployer Plan) which is covered by Title IV of ERISA or
subject to the minimum funding standards under Section 412 of the Code that is sponsored by the Borrower or a member of its ERISA Group or to which the Borrower or a member of its ERISA Group is obligated to make contributions or has any
liability. 
 “Post-Default Rate” means a rate per annum equal to (i) the Base Rate plus (ii) 6.50% per annum. 

“Potential Terminated Lender” has the meaning specified in Section 2.14 of the Credit Agreement.

 “Prime Rate” means the rate announced by the Administrative Agent from time to time as its prime rate in the United
States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by the Administrative Agent in connection with extensions of credit to debtors. The Administrative Agent
may make commercial loans or other loans at rates of interest at, above, or below the Prime Rate. The Prime Rate may not be less than 0.00%. 

“Principal Balance” means, as of any date of determination and with respect to a Facility Receivable, an amount equal to
(i) the related Receivable Initial Amount, plus (ii) any related Receivable Subsequent Draw Amounts, minus (iii) the amount of any Collections received from or on behalf of the related Obligor with respect to such
Facility Receivable and the related Loan. 
 “Principal Paydown” means, as of any Determination Date, for the Collection
Period then ended, the difference between (i) the sum of the Discounted Principal Balance for each Facility Receivable as of the beginning of such Collection Period, in each case, multiplied by the applicable Advance Rate for each such Facility
Receivable as of the beginning of such Collection Period, minus (ii) for each Facility Receivable included in the calculation set forth in clause (i) above, the sum of the Discounted Principal Balance for each such Facility
Receivable as of the beginning of such Collection Period, in each case, multiplied by the applicable Advance Rate for each such Facility Receivable as of the end of such Collection Period. 

  
 33 

 “Priority of Payments” has the meaning specified in
Section 9.01 of the Credit Agreement. 
 “Proceeds” has, with reference to any asset or property,
the meaning assigned to it under the UCC and, in any event, shall include, but not be limited to, any and all amounts from time to time paid or payable under or in connection with such asset or property. 

“Program Support Agreement” means, with respect to any Conduit Lender, any liquidity agreement or any other agreement entered
into by any Program Support Provider providing for the issuance of one or more letters of credit for the account of such Conduit Lender (or any related commercial paper issuer that finances such Conduit Lender), the issuance of one or more surety
bonds for which such Conduit Lender or such related issuer is obligated to reimburse the applicable Program Support Provider for any drawings thereunder, the sale by the Conduit Lender or such related issuer to any Program Support Provider of any
interest in an Advance (or portions thereof or participations therein) and/or the making of loans and/or other extensions of liquidity or credit to the Conduit Lender or such related issuer in connection with its commercial paper program, together
with any letter of credit, surety bond or other instrument issued thereunder. 
 “Program Support Provider” means and
includes any bank, insurance company or other financial institution now or hereafter extending liquidity or credit or having a commitment to extend liquidity or credit to or for the account of, or to make purchases from, a Conduit Lender (or any
related commercial paper issuer that finances such Conduit Lender) in support of commercial paper issued, directly or indirectly, by such Conduit Lender in order to fund Advances made by such Conduit Lender under the Credit Agreement or issuing a
letter of credit, surety bond or other instrument to support any obligations arising under or in connection with such Conduit Lender’s or such related issuer’s commercial paper program, but only to the extent that such letter of credit,
surety bond, or other instrument supported either CP issued to make Advances and purchase the Advances under the Credit Agreement or was dedicated to that Program Support Provider’s support of the Conduit Lender as a whole rather than one
particular issuer (other than the Borrower) within such Conduit Lender’s commercial paper program. 
 “Property”
means, with respect to any Notable Receivable, the residential real estate property listed in the related Loan Agreement and in connection with which the related Obligor applied for the related Loan. 

“Property Debt” means all debt secured by the related Property. 

“Purchasable Receivable” means a Notable Receivable that meets the criteria of a Compass Qualified Receivable as of the
Cutoff Date of the applicable Offer List. 
 “Purchase Agreement” means that certain Amended and Restated Receivables
Purchase Agreement, dated as of the date hereof, between the Seller, as “seller,” and the Borrower, as “buyer.” 

“Purchase Price” has the meaning specified in Section 3.1 of the Purchase Agreement. 

  
 34 

 “QIB” has the meaning specified in
Section 11.06(f) of the Credit Agreement. 
 “Qualified Purchaser” has the meaning specified in
Section 11.06(f) of the Credit Agreement. 
 “Rating Agencies” means Moody’s, S&P and,
if applicable, Fitch. 
 “Receivable Initial Amount” means, with respect to any Notable Receivable, the aggregate principal
amount dispersed to the related Obligor in accordance with the terms of the related Loan Agreement from and including the related Receivable Origination Date to and including the initial Cutoff Date with respect to such Notable Receivable. 

“Receivable Obligor Origination State” means, with respect to any Notable Receivable, the State or U.S. territory in which
the related Obligor resided on the related Receivable Origination Date. 
 “Receivable Original Amount” means, with respect
to any Notable Receivable, the full principal amount approved as shown in either (a) the related Loan Agreement and related documents or (b) the final payment schedule, as applicable. 

“Receivable Origination Date” means, with respect to any Notable Receivable, the calendar date on which the related Loan was
originated by the Originator, as indicated in the Originator’s records. 
 “Receivable Subsequent Draw Amount” means,
with respect to any Notable Receivable, the aggregate principal amount dispersed to the related Obligor in accordance with the terms of the related Loan Agreement from and excluding the Cutoff Date relating to the last Purchase Date upon which the
Borrower purchased the Receivable Initial Amount or a Receivable Subsequent Draw Amount relating to such Loan to and including the Cutoff Date relating to such Receivable Subsequent Draw Amount. For the avoidance of doubt, with respect to any
Notable Receivable, the sum of the related Receivable Initial Amount plus all Receivable Subsequent Draw Amounts cannot exceed the Receivable Original Amount for such Notable Receivable. 

“Receivables List” has the meaning specified in Section 2.2(b) of the Transfer Agreement. 

“Register” has the meaning specified in Section 11.06(e) of the Credit Agreement. 

“Regulation D” means Regulation D of the Federal Reserve Board, as in effect from time to time and all official rulings and
interpretations thereunder or thereof. 
 “Regulation T”, “Regulation U” and “Regulation
X” mean Regulation T, U and X, respectively, of the Board of Governors of the Federal Reserve System, as in effect from time to time. 

“Regulatory Change” has the meaning specified in Section 2.09(a) of the Credit Agreement. 

  
 35 

 “Regulatory Event” shall mean (a) the commencement by written notice
by any Governmental Authority of any lawsuit or similar adversarial court or regulatory proceeding against the Borrower or any of its Affiliates or, to the knowledge of the Borrower, the Originator or the Servicer, challenging such Person’s
authority to originate, hold, own, service, pledge, collect or enforce any Facility Receivable, or otherwise alleging any material non-compliance by any of the Borrower, the Originator or the Servicer or any
of their respective Affiliates with any Applicable Laws restricting the ability of such Person to originate, hold, own, service, pledge, collect or enforce such Facility Receivable, which lawsuit or proceeding is not released or terminated in a
manner acceptable to Administrative Agent within ninety (90) calendar days of commencement thereof or (b) the issuance or entering of any stay, order, judgment, cease and desist order, injunction, temporary restraining order, or other
judicial or non-judicial sanction (other than the imposition of a monetary fine), order or ruling against any of the Borrower or any of its Affiliates or, to the knowledge of the Borrower, the Originator or
the Servicer, restricting the ability of such Person to originate, hold, own, service, pledge, collect or enforce any Facility Receivables, and which, in the case of any such lawsuit, proceeding or other event described in clause (a) or
(b) above, has a material adverse effect on the enforceability, collectability or ability to service such Facility Receivable or renders the Purchase Agreement unenforceable in such jurisdiction, as determined by the Administrative Agent in
its reasonable judgment; provided, that, in each case, upon the favorable resolution of any such lawsuit, proceeding or other event, or if such determination by the Administrative Agent shall have ceased to be applicable, such
Regulatory Event shall cease to exist. 
 “Related Documents” means, with respect to any Notable Receivable, all agreements
or documents evidencing, guaranteeing, securing, governing or giving rise to such Notable Receivable, including the Loan Agreement under which an extension of credit is made by the Originator to the related Obligor through the Seller’s lending
platform, such agreements not to include the Concierge Mastercard Program Agreement for Concierge Cardholder or any agreement servicing an equivalent function. 

“Relevant Governmental Body” means the Board of Governors of the Federal Reserve System or the Federal Reserve
Bank of New York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or any successor thereto. 

“Repurchased Receivable” has the meaning assigned to such term in Section 6.1 of the Purchase
Agreement. 
 “Request for Advance” has the meaning assigned to such term in Section 2.02 of the
Credit Agreement. 
 “Requested Amount” has the meaning assigned to such term in Section 2.02 of
the Credit Agreement. 
 “Reserve Account” means any account established by the Borrower at the Account Bank, in the name
of the Borrower, which account has been designated as the Reserve Account and is subject to the Account Control Agreement. 

  
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 “Reserve Account Available Amount” means, at any time, the amount on
deposit in the Reserve Account. 
 “Reserve Account Deficit” means, at any time, the excess, if any, of (A) the
Reserve Account Required Amount over (B) the Reserve Account Available Amount. 
 “Reserve Account Required Amount”
means, as of any date of determination including any Borrowing Date, an amount equal to the product of (i) the Eligible Pool Balance as of such date and (ii) 3.0%; provided, however, that if there are no Obligations outstanding
under the Credit Agreement, the Reserve Account Required Amount shall equal zero. 
 “Reserve Account Withdrawal Amount”
has the meaning specified in Section 8.03(b) of the Credit Agreement. 
 “Resolution Authority”
means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority. 
 “Responsible
Officer” means (a) in the case of a corporation, partnership or limited liability company that, pursuant to its Constituent Documents, has officers, any chief executive officer, chief financial officer, chief capital officer, chief
administrative officer, head of finance, head of capital markets, president, senior vice president, vice president, assistant vice president, treasurer, secretary, assistant secretary, director or manager, (b) in the case of a limited
partnership, the Responsible Officer of the general partner, acting on behalf of such general partner in its capacity as general partner, (c) additionally, in the case of a limited liability company, any Responsible Officer of the sole member
or managing member, acting on behalf of the sole member or managing member in its capacity as sole member or managing member, (d) in the case of a trust, the Responsible Officer of the trustee, acting on behalf of such trustee in its capacity
as trustee and (e) in the case of the Administrative Agent, an officer of the Administrative Agent as applicable responsible for the administration of the Credit Agreement. 

“Restricted Payments” means the declaration of any distribution or dividends or the payment of any other amount by the
Borrower to any shareholder, partner, member or other equity investor in the Borrower on account of any share, membership interest, partnership interest or other equity interest in respect of the Borrower, or the payment on account of, or the
setting apart of assets for a sinking or other analogous fund for, or the purchase or other acquisition of any class of stock of or other equity interest in the Borrower or of any warrants, options or other rights to acquire the same (or to make any
“phantom stock” or other similar payments in the nature of distributions or dividends in respect of equity to any Person), whether now or hereafter outstanding, either directly or indirectly, whether in cash, property (including marketable
securities), or any payment or setting apart of assets for the redemption, withdrawal, retirement, acquisition, cancellation or termination of any share, membership interest, partnership interest or other equity interest in respect of the Borrower.

 “Retransfer Date” has the meaning assigned to such term in Section 6.2 of the Purchase
Agreement. 

  
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 “Revolving Period” means the period from and including the Closing Date to
and including the earliest of (a) the Amortization Date or (b) the date of the termination of the Commitments pursuant to Section 6.02 of the Credit Agreement. 

“Sanctioned Country” means, at any time, a country or territory which is the subject or target of any comprehensive Sanctions
(currently Cuba, Iran, North Korea, Syria, and the Crimea region of Ukraine). 
 “Sanctioned Person” means, at any time,
(a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, or by another governmental authority with jurisdiction over the Borrower or the
Seller, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned 50 percent or more in the aggregate by one or more such Person. 

“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by
(a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) any other governmental authorities with jurisdiction over the
Borrower or the Seller. 
 “S&P” means S&P Global Ratings, together with its successors. 

“Scheduled Revolving Period Termination Date” means July 28, 2022 or such later date as may be agreed to in writing by
the Borrower, the Administrative Agent and each of the Lenders; provided that, if the Scheduled Revolving Period Termination Date would otherwise not be a Business Day, then the Scheduled Revolving Period Termination Date shall be the
immediately preceding Business Day. 
 “Secured Parties” means the Administrative Agent, the Lenders and their respective
permitted successors and assigns. 
 “Securities Act” means the United States Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder, all as from time to time in effect, or any successor law, rules or regulations, and any reference to any statutory or regulatory provision shall be deemed to be a reference to any successor statutory or
regulatory provision. 
 “Securitisation Regulations” means the EU Securitisation Regulation and the UK Securitisation
Regulation. 
 “Seller” means Compass Concierge, LLC. 

“Servicer” means Notable, in its capacity as “Servicer” under the Servicing Agreement, or any other Person acting
as successor servicer and that has been approved in writing by the Administrative Agent. 
 “Servicer Event of Default” is
defined in Section 4.01 of the Servicing Agreement. 

  
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 “Servicing Agreement” means that certain Amended and Restated Servicing
Agreement, dated as of the date hereof, between the Servicer and the Borrower. 
 “Servicing Fee” means, with respect to
any Payment Date, an amount equal to the product of (i) the Servicing Fee Rate, (ii) 1/12 and (iii) the average of the aggregate Principal Balance of the Facility Receivables as of the end of (x) the first day of the immediately
preceding Collection Period and (y) the last day of such preceding Collection Period. For the avoidance of doubt, no Servicing Fee is charged on Charged-Off Receivables. 

“Servicing Fee Rate” means 0.75%. 

“Servicing File” means, with respect to any Facility Receivable, the items, documents, files and records pertaining to the
servicing of the related Loan, including, but not limited to, the computer files, data tapes, books, records, notes, copies of the Related Documents, and all additional documents generated as a result of, or utilized in originating and/or servicing
such Facility Receivable and the related Loan, which are delivered to, or generated by, the Servicer. 
 “Servicing
Standard” is defined in Section 2.02 of the Servicing Agreement. 
 “SOFR” means a rate
per annum equal to the secured overnight financing rate for such Business Day published by the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate) on the website of the Federal Reserve Bank of New
York, currently at http://www.newyorkfed.org (or any successor source for the secured overnight financing rate identified as such by the administrator of the secured overnight financing rate from time to time). 

“Solvency Certificate” means a Closing Date Certificate or Amendment Effective Date Certificate substantially in the form of
Exhibit G to the Credit Agreement. 
 “Solvent” means, with respect to any Person, that as of the date of
determination, both (i) (a) the sum of such Person’s debt (including contingent liabilities) does not exceed the present fair market value of such Person’s present assets; (b) such Person’s capital is not unreasonably small
in relation to its business as contemplated on the Closing Date; and (c) such Person has not incurred and does not intend to incur, or believe that it will incur, debts beyond its ability to pay such debts as they become due (whether at
maturity or otherwise); and (ii) such Person is “solvent” within the meaning given that term and similar terms under the Bankruptcy Code, Section 271 of the Debtor and Creditor Law of the State of New York or other Applicable
Laws relating to fraudulent transfers and conveyances. 
 “Statutory Reserve Rate” means a fraction (expressed as a
decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) expressed as a decimal
established by the Federal Reserve Board to which the Administrative Agent is subject with respect to the LIBOR Rate, for eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D). Such reserve percentage
shall include those imposed pursuant to Regulation D. Advances made using the applicable LIBOR Rate shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration,
exemptions or offsets that may be available from time to time to any Lender under Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve
percentage. 

  
 39 

 “Subsidiaries” means, with respect to any Person, any corporation or other
Person of which more than 50% of the outstanding Equity Interests having ordinary voting power to elect members of the board of directors, board of managers or other governing body of such Person (other than Equity Interests having such power only
by reason of the happening of a contingency), are at the time, directly or indirectly, owned by, or the management of which is otherwise controlled, directly or indirectly, by, such Person and one or more of its other Subsidiaries or a combination
thereof. 
 “Successor Servicing Excess Servicing Fee” means such portion of the Servicing Fee accruing at a rate per annum
in excess of the Servicing Fee Rate. 
 “Successor Servicing Transition Fee” has the meaning set forth in the Backup
Servicing Agreement. 
 “Tangible Net Worth” means, as of any date, the aggregate total assets of the Parent and its
Subsidiaries, calculated in accordance with GAAP, minus the aggregate total debt of the Parent and its Subsidiaries, calculated in accordance with GAAP, minus the amount of all intangible items reflected therein, including all unamortized debt
discount and expense, goodwill, patents, trademarks, service marks, trade names, copyrights, and all similar items that should properly be treated as intangibles in accordance with GAAP. 

“Taxes” has the meaning assigned to such term in Section 11.03(a) of the Credit Agreement. 

“Term SOFR” means, for the applicable corresponding tenor, the forward-looking term rate based on SOFR that has been selected
or recommended by the Relevant Governmental Body. 
 “Total Liabilities” means, for any Person, as at any date of
determination, the aggregate amount of all Indebtedness of such Person, as determined on a consolidated basis in accordance with GAAP. 

“Transfer Agreement” means that certain Amended and Restated Transfer Agreement, dated as of the date hereof, between the
Originator and the Seller. 
 “Transferred Receivable” has the meaning specified in Section 1.1
of the Purchase Agreement. 
 “UCC” means the Uniform Commercial Code, as from time to time in effect in the State of New
York; provided that if, by reason of any mandatory provisions of law, the perfection, the effect of perfection or non-perfection or priority of the security interests granted to the Administrative Agent
pursuant to the Credit Agreement are governed by the Uniform Commercial Code as in effect in a jurisdiction of the United States other than the State of New York, then “UCC” means the Uniform Commercial Code as in effect from time to time
in such other jurisdiction for purposes of such perfection, effect of perfection or non-perfection or priority. 

  
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 “UK Financial Institution” means any BRRD Undertaking (as such term is
defined under the PRA Rulebook (as amended from 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” means the Bank of England or any other public administrative authority having responsibility for
the resolution of any UK Financial Institution. 
 “UK Securitisation Regulation” means Regulation (EU) 2017/2402 as it
forms part of the United Kingdom domestic law by operation of the EUWA, and as amended by the Securitisation (Amendment) (EU Exit) Regulations 2019, as amended and in effect from time to time, together with all relevant technical standards
applicable in relation thereto, and any relevant guidance relating thereto. 
 “United States” means the United States
of America. 
 “Unmatured Event of Default” means any event which, with the passage of time specified in the related cure
period for such event, the giving of notice, or both, would constitute an Event of Default. 
 “Unmatured Servicer Event of
Default” means any event which, with the passage of time, the giving of notice, or both, would constitute a Servicer Event of Default. 

“Unrestricted Cash” means, with respect to any calendar month or fiscal quarter, (i) the cash and cash equivalents of
the Parent and its consolidated Subsidiaries that, in accordance with GAAP, is reflected on the consolidated balance sheet of the Parent and its consolidated Subsidiaries, as of the end of such calendar month or fiscal quarter, as applicable, but
only to the extent that such cash and cash equivalents (or any deposit account or securities account in which such cash and cash equivalents are held) are not controlled by or subject to any Lien or other preferential arrangement in favor of any
creditor, including any cash or cash equivalents collateralizing any letters of credit and (ii) investments in money market funds or securities issued, or directly and fully guaranteed or insured, by the United States or any agency or
instrumentality thereof (provided that the full faith and credit of the United States is pledged in support thereof) having maturities of not more than six (6) months from the date of acquisition; provided, that the calculation of
Unrestricted Cash to the extent attributable to any Subsidiary shall be the Unrestricted Cash of such Subsidiary multiplied by the percentage Equity Interests in such Subsidiary held by the Parent (measured against all Equity Interests in such
Subsidiary held by all Persons). 
 “Unused Fees” has the meaning assigned to such term in the Fee Letter. 

“U.S. Tax Compliance Certificate” has the meaning specified in Section 11.03(g)(ii) of the Credit
Agreement. 
 “Volcker Rule” means the common rule entitled “Proprietary Trading and Certain Interests and
Relationships with Covered Funds” published at 79 Fed. Reg. 5779 et seq. 

  
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 “Weighted Average Advance Rate” means, as of any date of determination, a
percentage equal to (a) the aggregate product of (i) the Discounted Principal Balance for each Eligible Receivable as of such date, multiplied by (ii) the applicable Advance Rate for each such Eligible Receivable as of
such date, divided by (b) the Eligible Pool Balance. 
 “Weighted Average FICO Score” means, with
respect to any pool of Eligible Receivables as of any date of determination, the ratio (expressed as a number) obtained by (a) summing the products obtained by multiplying, for each such Eligible Receivable as of such date and in respect of
which the related Obligor has a FICO Score: 
  

					
	 The FICO Score of the Obligor of such Eligible Receivable
	 	X	  	 The Discounted Principal Balance of such Eligible Receivable as of such date

 and (b) dividing such sum by the Aggregate Discounted Principal Balance of such pool of Eligible Receivables in respect
of which the related Obligor has a FICO Score as of such date of determination. 
 “Withdrawal Liability” means liability
to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Write-Down and Conversion Powers” means, (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. 

  
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