Document:

EX-10.2

 Exhibit 10.2 

Execution Version 

DEPOSITARY AGREEMENT 
 among 

CHENIERE ENERGY PARTNERS, L.P., 

as Borrower, 
 each Subsidiary
Guarantor party hereto, 
 MUFG UNION BANK, N.A., 

as Collateral Agent, 
 and 

MUFG UNION BANK, N.A., 
 as
Depositary Bank 
 Dated as of February 25, 2016 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  
		
	 DEFINITIONS/INTERPRETATION
	  	 	2	  
			
	 SECTION 1.1.
	 	 Definitions
	  	 	2	  
	 SECTION 1.2.
	 	 Certain Principles of Interpretation
	  	 	9	  
	 SECTION 1.3.
	 	 UCC Terms
	  	 	10	  
	ARTICLE II	  
	
	APPOINTMENT OF DEPOSITARY BANK; PROCEDURES,	  
	 GOVERNMENT AND ESTABLISHMENT OF ACCOUNTS
	  	 	10	  
			
	 SECTION 2.1.
	 	 Acceptance of Appointment of Depositary Bank
	  	 	10	  
	 SECTION 2.2.
	 	 Procedures Governing Accounts
	  	 	10	  
	 SECTION 2.3.
	 	 Establishment of Accounts
	  	 	12	  
	 SECTION 2.4.
	 	 Security Interest
	  	 	14	  
	 SECTION 2.5.
	 	 Termination
	  	 	15	  
	 SECTION 2.6.
	 	 Control of Accounts, Funds and Cash Equivalents
	  	 	15	  
	 SECTION 2.7.
	 	 Certificates; Method and Timing of Payments and Transfers
	  	 	18	  
	 SECTION 2.8.
	 	 Security Interest Absolute
	  	 	20	  
	 SECTION 2.9.
	 	 Identification and Confirmation of Proceeds of Accounts
	  	 	20	  
	 SECTION 2.10.
	 	 Power of Attorney
	  	 	20	  
	
	ARTICLE III	  
		
	 THE ACCOUNTS
	  	 	21	  
			
	 SECTION 3.1.
	 	 Accounts
	  	 	21	  
	 SECTION 3.2.
	 	 Operating Account
	  	 	25	  
	 SECTION 3.3.
	 	 Debt Service Payment Account
	  	 	26	  
	 SECTION 3.4.
	 	 Local Operating Accounts; Local CEILLC Management Account; Local Discretionary Capex Account
	  	 	26	  
	 SECTION 3.5.
	 	 Debt Service Reserve Accounts
	  	 	28	  
	 SECTION 3.6.
	 	 Net Insurance/Condemnation Proceeds Account
	  	 	30	  
	 SECTION 3.7.
	 	 Disposition Proceeds Account
	  	 	31	  
	 SECTION 3.8.
	 	 Account Balance Statements
	  	 	32	  
	 SECTION 3.9.
	 	 L/C Cash Collateral Account(s)
	  	 	32	  
	 SECTION 3.10.
	 	 Local Distribution Account
	  	 	33	  
	 SECTION 3.11.
	 	 Invasion of Accounts
	  	 	34	  
	
	ARTICLE IV	  
		
	 DEPOSITARY BANK
	  	 	35	  
			
	 SECTION 4.1.
	 	 Powers and Immunities of Depositary Bank
	  	 	35	  
	 SECTION 4.2.
	 	 Reliance by Depositary Bank
	  	 	37	  

  
 i 

							
	 SECTION 4.3.
	 	 Court Orders
	  	 	37	  
	 SECTION 4.4.
	 	 Resignation or Removal
	  	 	38	  
	 SECTION 4.5.
	 	 Collateral Agent
	  	 	38	  
	 SECTION 4.6.
	 	 Representations of Depositary Bank
	  	 	39	  
	
	ARTICLE V	  
		
	 EXPENSES; INDEMNIFICATION; FEES
	  	 	39	  
			
	 SECTION 5.1.
	 	 Expenses
	  	 	39	  
	 SECTION 5.2.
	 	 Indemnification
	  	 	39	  
	 SECTION 5.3.
	 	 Fees
	  	 	40	  
	 SECTION 5.4.
	 	 Taxes
	  	 	40	  
	
	ARTICLE VI	  
		
	 MISCELLANEOUS
	  	 	40	  
			
	 SECTION 6.1.
	 	 Amendments; Etc.
	  	 	40	  
	 SECTION 6.2.
	 	 Addresses for Notices
	  	 	40	  
	 SECTION 6.3.
	 	 APPLICABLE LAW
	  	 	41	  
	 SECTION 6.4.
	 	 SUBMISSION TO JURISDICTION; WAIVERS
	  	 	42	  
	 SECTION 6.5.
	 	 Headings
	  	 	43	  
	 SECTION 6.6.
	 	 No Third-Party Beneficiaries
	  	 	43	  
	 SECTION 6.7.
	 	 No Waiver
	  	 	43	  
	 SECTION 6.8.
	 	 Severability
	  	 	43	  
	 SECTION 6.9.
	 	 Successors and Assigns
	  	 	43	  
	 SECTION 6.10.
	 	 Execution in Counterparts, Effectiveness
	  	 	44	  
	 SECTION 6.11.
	 	 Consequential Damages
	  	 	44	  
	 SECTION 6.12.
	 	 Termination Date
	  	 	44	  
	 SECTION 6.13.
	 	 Additional Subsidiary Guarantors
	  	 	44	  

  
 ii 

			
	 SCHEDULE

		
	Schedule 1	  	Local Operating Accounts
	Schedule 2	  	Wire Instructions
	
	TABLE OF EXHIBITS
		
	Exhibit A	  	Form of Supplement
	Exhibit B	  	Form of Disposition Proceeds Account Withdrawal Certificate
	Exhibit C	  	Form of DSR Account Transfer Certificate
	Exhibit D	  	Form of Net Insurance/Condemnation Proceeds Account Withdrawal Certificate
	Exhibit E	  	Form of Revenue Account Transfer Certificate
	Exhibit F	  	Form of Supplemental Revenue Account Transfer Certificate
	Exhibit G	  	Form of Operating Account Withdrawal Certificate
	Exhibit H	  	Form of Pending Trade Notice
	Exhibit I	  	Form of Investment Instructions
	Exhibit J	  	Form of Debt Service Payment Account Withdrawal Certificate

  
 iii 

 This DEPOSITARY AGREEMENT (this “Agreement”) dated as of February 25, 2016,
is made by and among CHENIERE ENERGY PARTNERS, L.P., a limited partnership formed under the laws of the State of Delaware (“Borrower”), each Subsidiary Guarantor party hereto from time to time, MUFG UNION BANK, N.A., as Collateral
Agent (in such capacity, together with its successors and permitted assigns, the “Collateral Agent”) for the First Lien Secured Parties (such term and each other capitalized term used but not defined in this introductory statement
having the meaning given it in Article I), and MUFG UNION BANK, N.A., in its capacity as both a “securities intermediary” as defined in Section 8 102 of the UCC and a “bank” as defined in Section 9-102 of the UCC
(together with its successors and permitted assigns, in such capacities, the “Depositary Bank”). 

W I T N E S S E T H: 

WHEREAS, pursuant to the terms, conditions and provisions of the Credit and Guaranty Agreement, dated as of February 25, 2016 (as
amended, supplemented, amended and restated or otherwise modified from time to time in accordance with its terms, the “Credit Agreement”), among the Borrower, certain Subsidiaries of Borrower as and that become Subsidiary Guarantors
from time to time in accordance with the terms thereof, the financial institutions from time to time party thereto (the “Lenders”), the Issuing Banks party thereto from time to time, The Bank of Tokyo-Mitsubishi UFJ, Ltd., as the
Credit Agreement Administrative Agent, the Lenders have agreed to make term loans and to make available a revolving facility (and other extensions of credit, including the issuance of Letters of Credit for the account of the Borrower) to the
Borrower in accordance with the terms of the Credit Agreement; 
 WHEREAS, pursuant to the Credit Agreement, the Borrower is obligated to
enter into one or more Interest Rate Agreements pursuant to Section 5.11 of the Credit Agreement and is permitted to enter into Permitted Hedging Agreements with Lender Counterparties pursuant to Section 6.16 of the Credit
Agreement; 
 WHEREAS, the Borrower and Collateral Agent desire to appoint MUFG Union Bank, N.A. as Depositary Bank hereunder, and the
parties hereto desire to, among other things, pursuant to the terms and conditions herein, set forth certain procedures for the deposit, investment and disbursement of the proceeds of Credit Extensions and the deposit, investment and disbursement of
Revenue, Net Insurance/Condemnation Proceeds, Net Asset Sale Proceeds, all payments paid to the Borrower under any Permitted Hedging Agreement and other amounts received by the Borrower and its Subsidiary Guarantors, and provide for certain Liens
described hereunder by, and undertakings of, the Borrower and the Subsidiary Guarantors to the First Lien Secured Parties; and 
 WHEREAS,
it is a condition precedent to the making of Credit Extensions pursuant to the Credit Agreement that the parties hereto enter into this Agreement; 

NOW THEREFORE, in consideration of the premises and the covenants and agreements as herein set forth and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

 ARTICLE I 

DEFINITIONS/INTERPRETATION 

SECTION 1.1. Definitions. 

(a) Capitalized terms which are used and not otherwise defined herein shall have the meaning set forth in, first, the Intercreditor
Agreement, second, the Credit Agreement and, third, the other First Lien Secured Debt Instruments, as applicable, with the Intercreditor Agreement controlling in the event of discrepancies (and the Credit Agreement controlling in the
event of discrepancies with the other First Lien Secured Debt Instruments). If any definitions used and not otherwise defined herein are proposed to be amended in any way, the Borrower shall promptly provide written notice of such amendment to the
Depositary Bank. In addition to such terms, as used in this Agreement, the following terms shall have the following respective meanings: 

“Acceptable Bank” shall mean a bank whose long-term unsecured and unguaranteed debt is rated at least “A-” (or the
then-equivalent rating) by S&P and “A3” (or the then equivalent rating) by Moody’s, and, in any case, with a combined capital surplus of at least one billion Dollars ($1,000,000,000). 

“Acceptable Third Party DSR LC” shall mean an irrevocable, standby letter of credit issued by an Acceptable Bank for the
benefit of the Collateral Agent which includes the following material terms: 
 (i) an expiry date not earlier than three hundred sixty-four
(364) days after its issuance date; 
 (ii) allows the Collateral Agent to make a drawdown of up to the stated amount in each of the
circumstances described in Section 3.5(f) (Debt Service Reserve Accounts); and 
 (iii) except to the extent that such
Acceptable Third Party DSR LC is provided by a Secured Party that is a provider of Replacement Debt (as defined in the Credit Agreement), the reimbursement and other payment obligations with respect to such letter of credit are not for the account
of the Credit Parties and are not secured by or otherwise have recourse to the Collateral. 
 “Account Collateral” has the
meaning assigned to such term in Section 2.4(a). 
 “Account Property” shall mean amounts and Cash Equivalents and
other property (including cash, cash equivalents, investments, investment property, securities, financial assets, security entitlements and deposit accounts, or any other property as may be agreed from time to time by the Borrower with the
Depositary Bank), to be received or held by the Depositary Bank pursuant to the terms of this Agreement. 
 “Accounts”
shall mean the accounts and sub-accounts established pursuant to Section 2.3. 

  
 2 

 “Additional Debt Service Reserve Account(s)” shall mean each Account established
pursuant to Section 2.3(b). 
 “Additional Debt Service Reserve Requirement” shall mean an amount equal to the debt
service reserve amount established under or required by any Additional First Lien Debt Facility. 
 “Agreement” has the
meaning assigned to such term in the preamble. 
 “Authorized Officer” shall mean any of those officers of the
Borrower, the general partner of the Borrower (on behalf of the Borrower), or the Collateral Agent, as applicable, whose signatures and incumbency shall have been certified to the Depositary Bank. 

“Borrower” has the meaning assigned to such term in the preamble. 

“Borrower Operation and Maintenance Expenses” shall mean, for any period, the sum, computed without duplication, of the
following amounts payable or reimbursable by any Credit Party (other than CCTP or SPLNG) during such period: 
 (a) fees and
costs for management or operations and maintenance services, including those provided pursuant to any secondment agreements; plus 

(b) insurance costs; plus 

(c) applicable sales and excise taxes (if any); plus 

(d) franchise taxes; plus 

(e) property taxes; plus 

(f) any other direct taxes (other than any taxes imposed on or measured by income or receipts); plus 

(g) legal, accounting and other professional fees attendant to any of the foregoing items; plus 

(h) Capital Expenditures required for compliance by any Credit Party (other than CCTP or SPLNG) with (A) any insurance
policies, (B) any Government Approvals or Government Rules or (C) Prudent Industry Practices; plus 
 (i) with
respect to CEILLC, any fees and costs in connection with the SPL TUA and/or pursuant to the Terminal Use Rights Assignment and Agreement; plus 

(j) all other cash expenses incurred in the ordinary course of business. 

Operation and Maintenance Expenses shall exclude, to the extent included above (i) payments into any of the Accounts during such period,
(ii) payments of any kind with respect to Restricted Payments during such period, (iii) depreciation for such period, (iv) other than as specified in clause (h), any Capital Expenditure and (v) any payments of any kind with
respect to any restoration during such period. 

  
 3 

 “CCTP Operation and Maintenance Expenses” shall mean, for any period, the sum,
computed without duplication, of the following: 
 (a) fees and costs of the Manager pursuant to the CCTP MSA; plus 

(b) expenses for operating the Creole Trail Pipeline and maintaining it in good repair and operating condition payable during
such period, including the ordinary course fees and costs of the Operator payable pursuant to the CCTP O&M Agreement; plus 

(c) insurance costs payable during such period in connection with the Creole Trail Pipeline; plus 

(d) applicable sales and excise taxes (if any) payable or reimbursable by CCTP during such period; plus 

(e) franchise taxes payable by CCTP during such period; plus 

(f) property taxes payable by CCTP during such period; plus 

(g) any other direct taxes (if any) payable by CCTP to the taxing authority (other than any taxes imposed on or measured by
income or receipts) during such period; plus 
 (h) costs and fees attendant to the obtaining and maintaining in effect the
Government Approvals for the Creole Trail Pipeline payable during such period; plus 
 (i) legal, accounting and other
professional fees attendant to any of the foregoing items payable by CCTP during such period; plus 
 (j) Capital
Expenditures required for compliance by CCTP with (A) any insurance policies, (B) any Government Approvals or Government Rules or (C) Prudent Industry Practices; plus 

(k) all other cash expenses payable by CCTP in the ordinary course of business. 

Operation and Maintenance Expenses shall exclude, to the extent included above (i) payments into any of the Accounts during such period,
(ii) payments of any kind with respect to Restricted Payments during such period, (iii) depreciation for such period, (iv) other than as specified in clause (j), any Capital Expenditure and (v) any payments of any kind with
respect to any restoration during such period. 
 “CEILLC” shall mean Cheniere Energy Investments, LLC. 

“Collateral Agent” has the meaning assigned to such term in the preamble. 

  
 4 

 “Corporate Trust Office” shall mean the office of the Depositary Bank at which
at any particular time its corporate trust business shall be principally administered, which office at the date of the execution of this instrument is located at 1251 Avenue of the Americas, 19th
Floor, New York, NY 10020, Attention: Corporate Trust Department, or such other address as the Depositary Bank may designate from time to time by notice to the Borrower and Collateral Agent, or the principal corporate trust office of any successor
Depositary Bank (or such other address as such successor Depositary Bank may designate from time to time by notice to the Borrower and Collateral Agent). 

“Credit Agreement” has the meaning assigned to such term in the first recital. 

“Credit Agreement Debt Service Reserve Account” has the meaning assigned to such term in Section 2.3(a)(iii). 

“Credit Agreement Debt Service Reserve Requirement” shall mean the Debt Service Reserve Amount (as defined in the Credit
Agreement). 
 “Credit Extensions” shall mean the making of a Loan or the issuing of a Letter of Credit. 

“Debt Default” shall mean, with respect to any First Lien Obligations, any event or condition which, under the terms of any
Secured Credit Document, causes, or permits holders of such First Lien Obligations outstanding thereunder to cause, the First Lien Obligations outstanding thereunder to become immediately due and payable. 

“Debt Service Payment Account” has the meaning assigned to such term in Section 2.3(a)(ii). 

“Debt Service Payment Account Withdrawal Certificate” shall mean a certificate in the form of Exhibit J. 

“Depositary Bank” has the meaning assigned to such term in the preamble. 

“Discharge of Credit Agreement Obligations” has the meaning assigned to the term “Discharge of Obligation” in the
Credit Agreement. 
 “Disposition Proceeds Account” has the meaning assigned to such term in Section 2.3(a)(v). 

“Disposition Proceeds Account Withdrawal Certificate” shall mean a certificate in the form of Exhibit B. 

“DSR Account Transfer Certificate” shall mean a certificate in the form of Exhibit C. 

“DSR Secured Additional First Lien Obligations” shall mean any Additional First Lien Obligations secured by a debt serve
reserve requirement. 

  
 5 

 “Indemnified Depositary Bank Party” has the meaning assigned to such term in
Section 5.2. 
 “L/C Cash Collateral Account” shall mean each account established pursuant to
Section 2.3(a)(viii) and any other account established in accordance with Section 2.3 for similar purposes. 

“Lenders” has the meaning assigned to such term in the first recital. 

“Local CEILLC Management Account” shall mean an account of the Borrower created within 30 days of the Closing Date and
identified in writing by Borrower to the Collateral Agent (and including any successor accounts). 
 “Local Discretionary Capex
Account” shall mean an account of the Borrower created within 30 days of the Closing Date and identified in writing by Borrower to the Collateral Agent (and including any successor account). Such account shall be subject to a perfected Lien
of the Collateral Agent pursuant to a Control Agreement, as and to the extent required by Section 3.4(j). 
 “Local
Distribution Account” shall mean an account of the Borrower created within 30 days of the Closing Date and identified in writing by Borrower to the Collateral Agent (and including any successor account). Such account shall be subject to a
perfected Lien of the Collateral Agent pursuant to a Control Agreement, as and to the extent required by Section 3.10(b). 

“Local Operating Accounts” shall mean the respective account of each of the Borrower, CEILLC, CCTP, SPLNG and Tug Services
set forth on Schedule 1 (and including any successor account). Each account set forth on Schedule 1 shall be subject to a perfected Lien of the Collateral Agent pursuant to a Control Agreement, as and to the extent required by
Section 3.4. Each reference herein to a “Local Operating Account” shall be deemed to be a reference to the relevant Local Operating Account. 

“Monthly Date” shall mean the last Business Day of each calendar month. 

“Net Insurance/Condemnation Proceeds Account” has the meaning assigned to such term in Section 2.3(a)(iv). 

“Net Insurance/Condemnation Proceeds Account Withdrawal Certificate” shall mean a certificate in the form of
Exhibit D. 
 “Notice of Objection” shall mean a written notice of objection from the Collateral Agent
(i) stating that (x) the proposed withdrawal or transfer is not permitted under the Secured Credit Documents or (y) a Default or Debt Default has occurred and is continuing and (ii) instructing the Depositary Bank not to proceed
with the requested withdrawal or transfer that is the subject of such notice of objection. 
 “Operating Account” has the
meaning assigned to such term in Section 2.3(a)(vi). 

  
 6 

 “Operating Account Withdrawal Certificate” shall mean a certificate in the form
of Exhibit G. 
 “Operation and Maintenance Expenses” shall mean, collectively, (i) the Borrower Operation and
Maintenance Expenses, (ii) on and following the CCTP Funding Date, the CCTP Operation and Maintenance Expenses, and (iii) on and following the SPLNG Funding Date, the SPLNG Operation and Maintenance Expenses. 

“Permitted Reinvestment” shall mean any proposed use of Net Insurance/Condemnation Proceeds that is approved by the
Collateral Agent pursuant to Section 3.4(b) as satisfying the requirements of Section 3.4(a)(ii). 
 “Responsible
Officer” shall mean, with respect to the Depositary Bank, any officer assigned to the Corporate Trust Office of the Depositary Bank, who shall have direct responsibility for the administration of this Agreement, and shall also include any
other officer of the Depositary Bank to whom any depositary agent matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Revenue” shall mean, for any period, the aggregate of all cash revenues (without duplication) received by any Credit Party,
including from: (a) the sale of goods and services during such period, (b) payments for reimbursements for amounts paid by any Credit Party under the Material Contracts, (c) all proceeds from business interruption insurance and
proceeds of forced outage insurance, (d) any interest or earnings on Cash Equivalents on deposit in any of the Accounts, (e) any Restricted Payment made by one Subsidiary Guarantor to the Borrower or another Subsidiary Guarantor and
(f) any other revenue, proceeds, receipts, liquidated damages, or earnings received by each Credit Party during such period determined on a cash basis; provided, however, that “Revenue” shall not include (i) proceeds from
the incurrence or issuance of Indebtedness permitted to be incurred under the Credit Agreement or any other First Lien Secured Debt Instrument, (ii) any Net Insurance/Condemnation Proceeds or Net Asset Sale Proceeds, or (iii) any payments
from one Credit Party to another Credit Party for Operation and Maintenance Expenses. For the avoidance of doubt, on and following the SPLNG Funding Date, payments received by SPLNG in connection with the SPL TUA and/or pursuant to the Terminal Use
Rights Assignment and Agreement from or on behalf of CEILLC or SPL shall be considered Revenue. 
 “Revenue Account” has
the meaning assigned to such term in Section 2.3(a)(i). 
 “Revenue Account Transfer Certificate” shall mean a
certificate in the form of Exhibit E. 
 “Secondment Agreement” shall mean the Amended and Restated Services and
Secondment Agreement, dated as of August 9, 2012, between CEILLC (assignee of Cheniere Energy Partners GP, LLC and Cheniere LNG O&M Services, LLC Services). 

“Secured Credit Documents” shall mean, collectively, the Financing Documents and the Additional First Lien Documents. 

“Securities” has the meaning assigned to such term in Section 2.6(e). 

  
 7 

 “SPL O&M Agreement” shall mean the Operation and Maintenance Agreement,
dated as of May 14, 2012, between CEILLC, SPL and, solely for the purposes set forth therein, Cheniere LNG O&M Services, LLC, as amended by that certain Assignment and Assumption Agreement, dated as of November 20, 2013, between the
CEILLC and Cheniere Energy Partners GP, LLC. 
 “SPLNG Operation and Maintenance Expenses” shall mean, for any period, the
sum, computed without duplication, of the following: 
 (a) general and administrative expenses including expense
reimbursements payable to the manager pursuant to the SPLNG Partnership Agreement and for ordinary course fees and costs of the manager pursuant to the SPLNG Management Services Agreement; plus 

(b) expenses for operating the SPLNG Terminal and maintaining it in good repair and operating condition payable during such
period, including the ordinary course fees and costs of the Operator payable pursuant to the SPLNG O&M Agreement; plus 

(c) insurance costs payable during such period with respect to the SPLNG Terminal; plus 

(d) applicable sales and excise taxes (if any) payable or reimbursable by SPLNG during such period; plus 

(e) franchise taxes payable by SPLNG during such period; plus 

(f) property taxes payable by SPLNG during such period; plus 

(g) any other direct taxes (if any) payable by SPLNG during such period; plus 

(h) costs and fees attendant to the obtaining and maintaining in effect the Government Approvals for the SPLNG Terminal
payable during such period; plus 
 (i) legal, accounting and other professional fees attendant to any of the foregoing
items payable by SPLNG during such period; plus 
 (j) Capital Expenditures required for compliance by SPLNG with
(A) any insurance policies, (B) any Government Approvals or Government Rules or (C) Prudent Industry Practices; plus 

(k) all other cash expenses payable by SPLNG in the ordinary course of business. 

Operation and Maintenance Expenses shall exclude, to the extent included above (i) payments into any of the Accounts during such period,
(ii) payments of any kind with respect to Restricted Payments during such period, (iii) depreciation for such period, (iv) other than as specified in clause (j), any Capital Expenditure and (v) any payments of any kind with
respect to any restoration during such period. 

  
 8 

 “Supplemental Revenue Account Transfer Certificate” shall mean a certificate in
the form of Exhibit F. 
 “Triggering Event” shall mean the occurrence of a Debt Default under any Secured Credit
Document with respect to which the Credit Agreement Administrative Agent or any other Senior Class Debt Representative has given the Collateral Agent written notice thereof. 

“Trigger Notice” has the meaning assigned to such term in Section 2.6(i). 

“Tug Services” shall mean Sabine Pass Tug Services, LLC. 

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

SECTION 1.2. Certain Principles of Interpretation. 

(a) Unless otherwise specified, references herein to any Article or Section are references to such Article or Section of this Agreement, and
references in any Article, Section or definition to any clause are references to such clause of such Article, Section or definition. 
 (b)
As used herein, and in any certificate or other document made or delivered pursuant hereto or thereto: 
 (i) in any
computation of periods of time from a specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to but excluding” and the word
“through” means “to and including”; 
 (ii) the words “including” and “include”
shall mean including without limiting the generality of any description preceding such term, and, the parties hereto agree that the rule of ejusdem generis shall not be applicable to limit a general statement, which is followed by or referable to an
enumeration of specific matters, to matters similar to the matters specifically mentioned; 
 (iii) the word
“incur” shall be construed to mean incur, create, issue, assume, become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall have correlative meanings); 

(iv) the expressions “payment in full,” “paid in full” and any other similar terms or phrases when used
herein with respect to the First Lien Obligations shall mean the payment in full, in immediately available funds, of all the First Lien Obligations; and 

(v) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer
to any and all tangible and intangible assets and properties (whether real or personal), including cash, securities, revenues, accounts, leasehold interests and contract rights. 

  
 9 

 (c) The words “hereof,” “herein” and “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Article, Schedule, Annex, Exhibit and analogous references are to this Agreement unless otherwise
specified. 
 (d) References to agreements or other contractual obligations shall, unless otherwise specified, be deemed to refer to such
agreements or contractual obligations as amended, supplemented, restated or otherwise modified from time to time (subject to any applicable restrictions herein). 

(e) Defined terms in this Agreement shall include in the singular number the plural and in the plural number the singular. 

SECTION 1.3. UCC Terms. Unless otherwise defined herein, terms defined in Articles 8 and 9 of the UCC which are used herein shall have
the respective meanings given to those terms in Articles 8 and 9 of the UCC, except where the context otherwise requires. 
 ARTICLE II

 APPOINTMENT OF DEPOSITARY BANK; PROCEDURES, 

GOVERNMENT AND ESTABLISHMENT OF ACCOUNTS 

SECTION 2.1. Acceptance of Appointment of Depositary Bank. The Borrower and the Collateral Agent hereby appoint MUFG Union Bank, N.A.
and MUFG Union Bank, N.A. hereby accepts such appointment and agrees to act as depositary bank with respect to the Accounts hereunder, with such powers as expressly delegated to the Depositary Bank in this Agreement. The Borrower and the Collateral
Agent hereby appoint MUFG Union Bank, N.A., and MUFG Union Bank, N.A. hereby agrees to act as “securities intermediary” and “bank” (within the meaning of Articles 8 and 9 of the UCC) with respect to the Accounts hereunder, with
such powers as are expressly delegated to the Depositary Bank by the terms of this Agreement. 
 SECTION 2.2. Procedures Governing
Accounts. 
 (a) The Depositary Bank hereby agrees to accept all Account Property and to promptly deposit or credit all such Account
Property into the Accounts established hereunder as directed in writing by the Borrower or the Collateral Agent. The Depositary Bank shall hold the Accounts (and the Revenues, Net Insurance/Condemnation Proceeds, Net Asset Sale Proceeds, Credit
Extensions, cash, payments, securities, investments and other amounts on deposit therein) during the term of this Agreement for disbursement as directed by the Borrower or the Collateral Agent, which instructions and disbursement shall be given and
made strictly in accordance with the terms hereof. 
 (b) Each Account is, and will be maintained by the Depositary Bank as a
“securities account” as such term is defined in Section 8-501(a) of the UCC. The Depositary Bank shall treat the Account Property, and all rights related thereto, now or hereafter deposited in or credited to the Accounts as
“financial assets” (as defined in Section 8-102(a)(9) of the UCC), to be held by the Depositary Bank (and the term “financial assets” shall be used herein to 

  
 10 

 
refer to all such amounts, Cash Equivalents, property and rights), acting as a “securities intermediary” (as defined in Section 8-102(a)(14) of the UCC), and will treat and
identify the Collateral Agent as an “entitlement holder” (as defined in Section 8-102(a)(7) of the UCC) with respect to the Accounts and all financial assets credited thereto. The “security intermediary’s jurisdiction”
(as defined in Section 8-110(e)(1) of the UCC) and the “bank’s jurisdiction” (as determined pursuant to Section 9-304(b)(1) of the UCC) for purposes of Article 9 of the UCC shall be the State of New York. If and to the
extent any Account is deemed to be a “deposit account” as such term is defined in Section 9-102(a)(29) of the UCC, the Depositary Bank shall act not as securities intermediary but as a “bank” (within the meaning of
Section 9-102(a)(8) of the UCC). The Collateral Agent shall be deemed the customer of the Depositary Bank, acting as “bank” for purposes of the Accounts and, as such, shall be entitled to all the rights that customers of banks have
under applicable Government Rules with respect to deposit accounts, including the right to withdraw funds from, or close, the Accounts in accordance with this Agreement. The Depositary Bank shall not have title to the funds on deposit in the
Accounts, and shall credit the Accounts with all receipts of interest, dividends and other income received on the property held in the Accounts. If, while a Trigger Notice is outstanding, the Depositary Bank shall receive any instruction from the
Collateral Agent directing disposition of the funds in the Accounts in accordance with this Agreement, the Depositary Bank shall comply with such instruction without further consent by the Borrower or any other Person. The Depositary Bank hereby
represents that it has not entered into, and agrees that, until the termination of this Agreement, it will not enter into, any agreement with any other Person in respect of any of the Accounts pursuant to which it would agree to comply with
instructions made by such Person (other than this Agreement and any customer agreement required by the Depositary Bank of the Borrower in order to open the Accounts, provided that a copy of any such agreement has been delivered to the Collateral
Agent (and the Collateral Agent shall then deliver a copy to each Senior Class Debt Representative) and in the event of any conflict, this Agreement shall prevail). The “bank’s” jurisdiction for purposes of Section 9-304(b)(1) of
the UCC is and shall continue to be the State of New York. The Depositary Bank shall deposit all funds received for deposit in such Accounts in accordance with the terms of this Agreement. 

(c) All Account Property, held in or credited to each Account, shall constitute a part of the Collateral and shall be disbursed only in
accordance with the terms hereof. All such Account Property shall constitute the property of the Borrower and shall be (i) subject to the Lien of the Collateral Agent (for the benefit of the First Lien Secured Parties), and
(ii) “controlled” (within the meaning of Section 8-106(d) or Section 9-104(a), as applicable, of the UCC) by the Collateral Agent for the purposes of, and on the terms set forth in this Agreement and all such Account
Property shall constitute a part of the Collateral and shall not constitute payment of any First Lien Obligations until applied as hereinafter provided. The Borrower agrees that its rights to Account Property held in or credited to the respective
Accounts are subject to and controlled by the terms of this Agreement. 
 (d) Notwithstanding anything to the contrary set forth herein or
in any other Secured Credit Document, the Depositary Bank hereby agrees that it will comply with “entitlement orders” (within the meaning of Section 8-102(a)(8) of the UCC, including any notification to the Depositary Bank directing
transfer or redemption of any securities or other financial assets in any Account) or any written instruction directing disposition of any funds in any Account issued by the Collateral Agent and relating to any Account without the requirement

  
 11 

 
of further consent by the Borrower or any other Person. If the Borrower is otherwise entitled to issue entitlement orders (within the meaning of Section 8-102(a)(8) of the UCC) or
instructions directing disposition of funds with respect to any Account in its name, and such entitlement orders or instructions conflict with any entitlement orders or instructions received by the Depositary Bank from the Collateral Agent prior to
the execution by the Depositary Bank of the Borrower’s conflicting entitlement order, the Depositary Bank shall follow the entitlement orders or instructions issued by the Collateral Agent. The Depositary Bank hereby represents that it has not
entered into, and hereby agrees that, until it has received written notice from the Collateral Agent that each of the Secured Credit Documents has been terminated, it will not enter into, any agreement with any other Person relating to the Accounts
(or the Account Property deposited therein or credited thereto) pursuant to which it has agreed or will agree to comply with entitlement orders or written instructions made by such Person. The Depositary Bank hereby represents that it has not
entered into any other agreement with the Borrower or the Collateral Agent purporting to limit or condition the obligation of the Depositary Bank to comply with entitlement orders or written instructions as set forth in this
Section 2.2(d). 
 (e) The Accounts established pursuant to Section 2.3 shall be in the name of the Borrower, as
set forth in Section 2.3, but under the exclusive control of the Collateral Agent for the benefit of the First Lien Secured Parties at all times until the termination of this Agreement, subject to the terms of and exceptions provided for
in this Agreement. All Account Property from time to time held in or credited to each Account shall be (i) registered in the name of, or payable to the order of, the Depositary Bank, or (ii) endorsed to the Depositary Bank or in blank or
credited to another account maintained in the name of the Depositary Bank. In addition, in no case will any Account Property deposited in or credited to any Account be registered in the name of, payable to the order of, or specially endorsed to the
Borrower or any other Credit Party, except to the extent the foregoing have been specially endorsed to the Depositary Bank or in blank. 

(f) Except for the claims and interest of the Collateral Agent and of the Borrower in the Accounts, as the case may be, no Responsible
Officer of the Depositary Bank has actual knowledge of any claim to, or interest in, the Accounts or Account Property credited thereto. If a Responsible Officer of the Depositary Bank obtains actual knowledge that any Person (other than the First
Lien Secured Parties) has asserted any Lien or adverse claim against the Accounts or in any Account Property deposited therein or credited thereto, the Depositary Bank will promptly notify the Collateral Agent and the Borrower thereof. 

SECTION 2.3. Establishment of Accounts. (a) The Depositary Bank shall, on or prior to the date hereof, establish the relevant
Accounts at its Corporate Trust Office which shall be maintained at all times in accordance with Section 2.2 until the termination of this Agreement. 

(i) Revenue Account. The Depositary Bank shall establish a segregated, non-interest bearing and irrevocable account of
the Borrower entitled “Revenue Account” to be maintained with the Depositary Bank initially having account number XXXXXXXXXX (together with any successor account, the “Revenue Account”). No payments shall be made out of
such account except on the terms herein stated. 

  
 12 

 (ii) Debt Service Payment Account. The Depositary Bank shall establish a
segregated, non-interest bearing and irrevocable account of the Borrower entitled “Debt Service Payment Account” to be maintained with the Depositary Bank, initially having account number XXXXXXXXXX (together with any successor account,
the “Debt Service Payment Account”). No payments shall be made out of such account except on the terms herein stated. 

(iii) Credit Agreement Debt Service Reserve Account. The Depositary Bank shall establish a segregated, non-interest
bearing and irrevocable account of the Borrower entitled “Credit Agreement Debt Service Reserve Account” to be maintained with the Depositary Bank, initially having account number XXXXXXXXXX (together with any successor account, the
“Credit Agreement Debt Service Reserve Account”). No payments shall be made out of such account except on the terms herein stated. 

(iv) Net Insurance/Condemnation Proceeds Account. The Depositary Bank shall establish a segregated, non-interest
bearing and irrevocable account of the Borrower entitled “ Net Insurance/Condemnation Proceeds Account” to be maintained with the Depositary Bank, initially having account number XXXXXXXXXX (together with any successor account, the
“Net Insurance/Condemnation Proceeds Account”). No payments shall be made out of such account except on the terms herein stated. 

(v) Disposition Proceeds Account. The Depositary Bank shall establish a segregated, non-interest bearing and
irrevocable account of the Borrower entitled “Disposition Proceeds Account” to be maintained with the Depositary Bank, initially having account number XXXXXXXXXX (together with any successor account, the “Disposition Proceeds
Account”). No payments shall be made out of such account except on the terms herein stated. 
 (vi) Operating
Account. The Depositary Bank shall establish a segregated, non-interest bearing and irrevocable account of the Borrower entitled “Operating Account” to be maintained with the Depositary Bank, initially having account number XXXXXXXXXX
(together with any successor account, the “Operating Account”). No payments shall be made out of such account except on the terms herein stated. 

(vii) [Reserved]. 

(viii) L/C Cash Collateral Account. The Depositary Bank shall establish (i) a segregated, non-interest bearing
and irrevocable account of the Borrower entitled “L/C Cash Collateral Account for the benefit of The Bank of Tokyo-Mitsubishi UFJ, Ltd., as DSR Issuing Bank” to be maintained with the Depositary Bank, initially having account number
XXXXXXXXXX and (ii) a segregated, non-interest bearing and irrevocable account of the Borrower entitled “L/C Cash Collateral Account for the benefit of The Bank of Tokyo-Mitsubishi UFJ, Ltd., as WC Issuing Bank” to be maintained with
the Depositary Bank, initially having account number XXXXXXXXXX (each such 

  
 13 

 
account, together with any successor account, and any similar account established for any other Issuing Bank at the written request of the Borrower or the Collateral Agent to the Depositary Bank,
a “L/C Cash Collateral Account”). No payments shall be made out of any such account except on the terms herein stated. 
 (b)
Additional Debt Service Reserve Account. The Borrower shall direct the Depositary Bank in writing to create, and upon receipt of such written direction, the Depositary Bank shall create, any Additional Debt Service Reserve Account when
required pursuant to the terms of any Additional First Lien Debt Facility that provides for a “debt service reserve requirement”, and the Depositary Bank shall provide written notice to the Borrower and the Collateral Agent of the account
number and wire instructions for such newly established Additional Debt Service Reserve Account. Each Additional Debt Service Reserve Account shall be maintained with the Depositary Bank at all times in accordance with Section 2.2 until
the termination of this Agreement. No payments shall be made out of such account except on the terms herein stated. 
 (c) Each of the
Accounts shall be denominated in Dollars. 
 (d) For administrative purposes, additional sub-accounts within the Accounts may be
established and created by the Depositary Bank as it deems necessary or as directed by the Collateral Agent or the Borrower in separate accounts. 

(e) The complete wire instructions for the Accounts are as set forth on Schedule 2. 

(f) In the event that, in accordance with this Agreement, the Depositary Bank is required to segregate certain monies in an Account from any
other amounts on deposit in such Account pending transfer or withdrawal in accordance with this Agreement, the Depositary Bank shall, if requested, in a written notice to the Depositary Bank by the Collateral Agent or the Borrower, create a separate
account for such purpose (and the Collateral Agent or the Borrower, as applicable, shall give notice to the other party promptly after the creation thereof). 

SECTION 2.4. Security Interest. 

(a) As collateral security for the prompt and complete payment and performance when due of all of its First Lien Obligations owing to any of
the First Lien Secured Parties, the Borrower hereby pledges, assigns, hypothecates and transfers to the Collateral Agent for the benefit of the First Lien Secured Parties, and grants to the Collateral Agent for the benefit of the First Lien Secured
Parties a first-priority security interest in and to, all of the Borrower’s right, title and interest, whether now existing or hereafter acquired or arising, in, to and under, all of the Accounts and all Account Property at any time deposited
in or credited to the Accounts and all security entitlements with respect thereto, including all income or gain earned thereon, and any proceeds thereof (collectively, the “Account Collateral”); provided, however, that the
Lien on all of the Borrower’s rights, title and interest in, to and under (x) the Credit Agreement Debt Service Reserve Account and all amounts on deposit therein or credited thereto (including any Letter of Credit and any Acceptable Third
Party DSR LC) shall be solely for the benefit of 

  
 14 

 
the Term Loan Lenders (and, solely to the extent set forth in the last sentence of Section 3.5(f), the other First Lien Secured Parties), (y) each Additional Debt Service Reserve
Account and all amounts on deposit therein or credited thereto (including any letters of credit) shall be solely for the benefit of the holders of the applicable Series of Additional First Lien Obligations (and, solely to the extent set forth in the
last sentence of Section 3.5(g), the other First Lien Secured Parties) and (z) each L/C Cash Collateral Account and all amounts on deposit therein or credited thereto shall be solely for the benefit of the applicable Issuing Bank (but
solely with respect to its Letter of Credit Issuance Commitment, any DSR Loan or Revolving Loan deemed made pursuant to Section 2.3(c)(ii) of the Credit Agreement and any Unreimbursed Amount owed to it from time to time) as contemplated by
Section 3.9. 
 (b) Each of the Borrower, the other Credit Parties and the Collateral Agent, on behalf of the First Lien
Secured Parties, hereby authorizes the Depositary Bank to set off against and/or debit the Account Collateral to the extent of any and all fees and charges owing to the Depositary Bank directly related to the Account Collateral or the Depositary
Bank’s duties and rights hereunder (including the reasonable fees and expenses of its counsel) and the face amount of any checks which have been credited to any Account but are subsequently returned because of uncollected or insufficient funds
if the Borrower has not paid such fees and charges or otherwise reimbursed the Depositary Bank for any returned checks within three (3) Business Days from the date (i) such amounts are due and owing or (ii) such checks are returned to
the Depositary Bank. Except with respect to the amounts described in the preceding sentence, the Depositary Bank hereby waives any right of set-off or recoupment that it may have or obtain with respect to the Accounts or Account Collateral deposited
therein or credited thereto and agrees that in the event that the Depositary Bank has or subsequently obtains by agreement, by operation of law or otherwise a security interest in the Account Collateral, the Depositary Bank hereby agrees that such
security interest shall be subordinate to the security interest of the Collateral Agent for the benefit of the First Lien Secured Parties, respectively. 

SECTION 2.5. Termination. The rights and powers granted herein to the Collateral Agent have been granted in order to perfect its
security interests in the Accounts and are powers coupled with an interest and will not be affected by the bankruptcy of the Borrower or any Subsidiary Guarantor or by the lapse of time (other than the occurrence of the Discharge of First Lien
Obligations). The obligations of the Depositary Bank hereunder shall continue in effect until the termination of this Agreement pursuant to Section 6.12 or the resignation or removal of the Depositary Bank pursuant to
Section 4.4. 
 SECTION 2.6. Control of Accounts, Funds and Cash Equivalents. 

(a) Each of the Borrower, the other Credit Parties and the Collateral Agent hereby irrevocably instructs and authorizes the Depositary Bank
to deposit into and withdraw, invest, reinvest and liquidate funds from the Accounts in accordance with the terms and conditions of this Agreement. 

(b) Absent written instruction from the Borrower or the Collateral Agent, funds held in any Account shall be held uninvested. The parties
hereto hereby acknowledge and agree that they will not have any claim or cause of action against the Depositary Bank for its failure to invest the funds in an interest bearing or otherwise accreting 

  
 15 

 
account and the Borrower shall indemnify and hold the Depositary Bank harmless from any such claim (and any expenses incurred defending such claim) asserted, as applicable, by any of the parties
or any of their respective shareholders, creditors, trustee(s) in bankruptcy or other persons not a party to this Agreement. 
 (c) Pending
disbursement of any funds held in any Account by the Depositary Bank pursuant to this Agreement, such funds, including earnings thereon, shall be invested either (i) as instructed in writing on Exhibit I by the Borrower prior to a
Triggering Event, or the Collateral Agent, following the occurrence and during the continuance of a Triggering Event, in a specific money market fund or bank deposit investment vehicle or (ii) as instructed in writing on Exhibit I by the
Borrower prior to a Triggering Event, or the Collateral Agent, following the occurrence and during the continuance of a Triggering Event, in Cash Equivalents. It is understood and agreed that Exhibit I represents money market funds which are
currently available for investment of funds held in Depositary Bank depositary accounts, which availability is subject to change following the date of this Agreement. Depositary Agent shall have no obligation to confirm that any investment is a Cash
Equivalent. 
 (d) If the Borrower, prior to a Triggering Event, chooses to invest the funds in its Accounts in accordance with
Section 2.6(c)(i), the investment may be changed by delivery to the Depositary Bank of a written request including a revised and re-executed Exhibit I. Upon receipt of such request the Depositary Bank will reinvest the funds in
the indicated investment within two (2) Business Days or such additional time as may be required due to circumstances beyond the Depositary Bank’s control. 

(e) If the Borrower chooses to invest the funds in its Accounts in accordance with Section 2.6(c)(ii), each of the parties hereto
acknowledges that the Depositary Bank does not have the ability to purchase or sell securities, certificates, debt or equity instruments, exchange traded funds or other investment vehicles (collectively, “Securities”) on behalf of
any other person or party. Therefore, to the extent that the Borrower elects to invest the funds in its Accounts in securities, the Borrower will be responsible for initiating any purchase or sale of such securities on the open market by whatever
means necessary and available to it and the Depositary Bank will settle such purchases or sales into and out of the applicable Account, as necessary. Specifically, (A) for any purchase of securities directed by the Borrower, the Borrower shall
place a buy order on the open market for the securities it wishes to purchase and shall indicate that such purchase is to be settled by the Depositary Bank into the applicable Account using the funds on deposit in such Account and (B) for any
sale of securities directed by the Borrower, the Borrower shall place a sell order on the open market for the securities it wishes to sell and shall indicate that such sale is to be settled by the Depositary Bank out of the holdings of such
securities in the applicable Account and that all funds received from the sale of such securities shall be paid to the Depositary Bank for deposit into the applicable Account. In order to ensure the proper settlement of purchases and sales of
securities, the Borrower shall give the Depositary Bank written notice prior to the applicable settlement date in accordance with Exhibit H. Settlement of any trades of securities into any Account will be on an actual basis. Additionally, the
Depositary Bank shall not be required to comply with any settlement instructions requesting it to purchase any securities for any Account unless the then-current balance of such Account is sufficient to purchase such securities. 

  
 16 

 (f) In the event that a money market fund is designated herein as the initial investment for the
funds on deposit in any Account, the party or parties designating the investment acknowledge receipt of the prospectus for such fund at the time of execution of this Agreement. 

(g) Instructions with respect to the investment of amounts received into an Account after 12:00 p.m. New York City time shall be deemed to
apply for the following Business Day. Neither the Collateral Agent nor the Depositary Bank shall be liable for any loss resulting from any Cash Equivalents (or any investment or reinvestment therein or liquidation or redemption thereof) in any
Account or the sale or redemption thereof except to the extent that such loss results solely from the gross negligence or willful misconduct of the Collateral Agent or the Depositary Bank, as the case may be, as determined by a final judgment of a
court of competent jurisdiction, it being understood and agreed that in no event shall (i) any of the Collateral Agent or the Depositary Bank, as the case may be, be liable for any loss resulting from any investment made, or any sale or
redemption of any investment made, in accordance with instructions received from the Borrower or (ii) the Depositary Bank be liable for any loss resulting from any investment made, or any sale or redemption of any investment made, in accordance
with instructions received from the Collateral Agent. Except with respect to any L/C Cash Collateral Account, with respect to which interest and earnings shall be credited to the respective Account from which the investment was made, the Collateral
Agent and the Borrower agree that the interest paid or other earnings on Cash Equivalents made hereunder shall be credited to the Revenue Account and reinvested in accordance with instructions received by a Responsible Officer of the Depositary Bank
in accordance with the terms of this Agreement. Any loss shall be charged to the applicable Account. Prior to the Closing Date and from time to time as reasonably requested by the Depositary Bank, the Borrower shall provide to the Depositary Bank a
valid Form W-8BEN-E (with attachments) and/or Form W-9 of the Internal Revenue Service of the United States, as applicable, or other appropriate form required with respect to the withholding or exemption from withholding of income tax on any
investment income earned on the Accounts, and the Depositary Bank’s obligation to invest funds on deposit in the Accounts is conditioned upon receipt by a Responsible Officer of the Depositary Bank of such Form W-8BEN-E (with attachments)
and/or Form W-9, as applicable, or such other appropriate form. 
 (h) If and when cash is required to be disbursed in accordance with
Article III, and cash is not otherwise available in the Account from which disbursement is required, the Borrower shall direct a Responsible Officer of the Depositary Bank in writing by 12:00 p.m. (New York City time) on the Business Day on
which such disbursement is required to be made, and the Depositary Bank shall, cause Cash Equivalents in such Account to be sold or otherwise liquidated into cash (without regard to maturity) as and to the extent necessary in order to make such
transfers, disbursements or withdrawals required pursuant to Article III. If no such instruction with respect to liquidation of Cash Equivalents is received from the Borrower, the Depositary Bank shall have no obligation to make any
disbursements from such Account or Accounts and shall have no liability for its failure to do so. 
 (i) Subject to the provisions of
Section 2.7(f), notwithstanding anything to the contrary set forth herein or in any other Secured Credit Document, from and after receipt by a Responsible Officer of the Depositary Bank of a written notice from the Collateral

  
 17 

 
Agent that a Triggering Event has occurred (such notice, a “Trigger Notice”), which notice has not been withdrawn in writing by the Collateral Agent, the Depositary Bank
(i) shall not transfer or withdraw funds from any Account as requested by the Borrower and (ii) shall transfer or withdraw funds in the Accounts only as directed by the Collateral Agent, subject to satisfaction of amounts owed to it under
Section 2.4(b); provided that the Collateral Agent shall deliver a copy of any such notice concurrently to the Borrower. 

SECTION 2.7. Certificates; Method and Timing of Payments and Transfers. 

(a) The Depositary Bank shall only disburse amounts held in the Accounts upon receipt of a written notice from the Borrower or, if
applicable, the Collateral Agent specifying (i) the amount to be disbursed, (ii) the date of disbursement, (iii) the recipient of the disbursement, and (iv) the manner of disbursement and delivery instructions (which shall be by
wire transfer unless otherwise agreed by the Depositary Bank). Any certificate or written instruction required to be delivered hereunder by the Borrower shall be delivered to a Responsible Officer of the Depositary Bank, the Collateral Agent, the
Credit Agreement Administrative Agent and the Senior Class Debt Representative for each Additional First Lien Debt Facility prior to 12:00 noon (New York City time) at least two (2) Business Days prior to the date of any transfer or
distribution contemplated by such certificate or written instruction (except for payments requested to be paid to the Collateral Agent, in which case such certificate or written instruction shall be delivered to a Responsible Officer of the
Depositary Bank within one (1) Business Day prior to the date of such transfer or distribution). Such certificate or instructions may be delivered by facsimile pursuant to Section 6.2 and shall be considered delivered only upon
actual receipt by a Responsible Officer of the Depositary Bank. 
 (b) In the event that (i) any Credit Party shall be required to
make a payment in respect of Operation and Maintenance Expenses or such other amounts contemplated under clause First of Section 3.1(b), and such amounts are in addition to the amounts reflected in the related Revenue Account
Transfer Certificate, or (ii) any Credit Party shall be required to make a payment in respect of Operation and Maintenance Expenses or such other amounts contemplated under clause First of Section 3.1(b) on a date other than
a Monthly Date and funds sufficient to satisfy such costs and expenses are not available in the Operating Account or relevant Local Operating Account, the Borrower may provide a Supplemental Revenue Account Transfer Certificate to a Responsible
Officer of the Depositary Bank prior to 12:00 noon (New York City time) at least one (1) Business Day prior to the Monthly Date or other transfer date to which such certificate relates, requesting a transfer of such amounts from the Revenue
Account to, at the election of Borrower, the Operating Account and or the Local Operating Accounts. 
 (c) Unless a Responsible Officer of
the Depositary Bank has received a Notice of Objection no later than 12:00 noon (New York City time) one (1) Business Day prior to the requested withdrawal or transfer date in respect of a requested withdrawal or transfer from any Account
pursuant to the applicable Revenue Account Transfer Certificate, Net Insurance/Condemnation Proceeds Account Withdrawal Certificate, Disposition Proceeds Account Withdrawal Certificate, DSR Account Transfer Certificate, Debt Service Payment Account
Withdrawal Certificate or Supplemental Revenue Account Transfer Certificate properly completed and submitted by the Borrower to the Depositary Bank, the Collateral Agent, the Credit Agreement Administrative Agent and the Senior Class Debt
Representative for each 

  
 18 

 
Additional First Lien Debt Facility, the Depositary Bank will make such withdrawal or transfer in accordance with Section 2.7(e). If a Responsible Officer of the Depositary Bank has
not received a Notice of Objection by the deadline identified above, it shall have no liability for any such withdrawal or transfer. Notwithstanding anything to the contrary herein the Borrower shall have no right to withdraw or transfer any funds
or assets in any L/C Cash Collateral Account without the prior written consent of the applicable Issuing Bank (which consent shall be provided in writing to the Depositary Bank, the Collateral Agent and the Credit Agreement Administrative Agent).

 (d) In the event that, following the delivery to the Depositary Bank of a withdrawal or transfer certificate but prior to the relevant
withdrawal or transfer date, the Borrower shall determine that (i) any amounts specified in a withdrawal or transfer certificate (or an amended certificate, as applicable) have been incorrectly calculated, or (ii) there have occurred
changes in the facts and circumstances on which the amounts specified in a withdrawal or transfer certificate were based so as to require the revision of such requested amounts, the Borrower shall notify the Credit Agreement Administrative Agent,
Collateral Agent and the Depositary Bank in writing promptly and may replace such withdrawal or transfer certificate (or such amended certificate, as applicable) with a withdrawal or transfer certificate reflecting such corrected or revised amounts
(a “Replacement Certificate”). The Borrower will deliver the Replacement Certificate acknowledged by the Credit Agreement Administrative Agent to a Responsible Officer of the Depositary Bank no later than one (1) Business Day
prior to the withdrawal or transfer date to which the original certificate relates. 
 (e) Subject to the timely receipt of a certificate
or written notice, if and as prescribed herein, and to the availability of cash in the applicable Account, the Depositary Bank shall initiate any payment or transfer hereunder required by means of wire transfer of immediately available funds, to the
account of the payee set forth in such certificate or written instructions or schedule thereto, prior to 2:00 p.m. (New York City time) on the date requested for such payment or transfer; provided, however, that the Depositary Bank shall have no
liability for the time of receipt by the payee. Notwithstanding the foregoing, neither the Collateral Agent nor the Depositary Bank shall be responsible in any manner for the truth and accuracy of any information contained in any certificate or
written information provided by the Borrower and shall have no duty to independently verify as such. 
 (f) If the Collateral Agent
delivered a Trigger Notice to a Responsible Officer of the Depositary Bank and the Debt Default resulting in such Trigger Notice is subsequently waived by the consent of the requisite percentage of holders of the applicable First Lien Obligations
pursuant to and in accordance with the applicable Secured Credit Documents or the Collateral Agent is otherwise directed by the requisite percentage of holders of the applicable First Lien Obligations to withdraw such notice in accordance with the
applicable Secured Credit Documents or the Collateral Agent receives evidence to its satisfaction that the Debt Default resulting in such Triggering Event has been cured by, or on behalf of, the Borrower, then the Collateral Agent shall promptly
notify a Responsible Officer of the Depositary Bank in writing that such Trigger Notice is withdrawn. Notwithstanding anything to the contrary herein or any other Secured Credit Document, unless, the Collateral Agent specifies in the Trigger Notice
that the Collateral Agent has been directed to exercise remedies pursuant to the Secured Credit Documents, (i) the Depositary Bank shall, as and when directed by the Collateral Agent in 

  
 19 

 
accordance with this Agreement, continue to make (and the Collateral Agent hereby authorizes) withdrawals and transfers in accordance with the clause First through clause Fifth of
Section 3.1(b) and (ii) the Borrower, CEILLC, Tug Services, CCTP and SPLNG (in the case of CCTP, Tug Services and SPLNG, to the extent they are Credit Parties) shall continue to make (and the Collateral Agent hereby authorizes)
payments and transfers from their Local Operating Account in accordance with Section 3.4. 
 (g) The Borrower hereby agrees to
timely furnish to a Responsible Officer of the Credit Agreement Administrative Agent, the Depositary Bank and the Collateral Agent each Revenue Account Transfer Certificate and each other certificate referred to herein necessary for the Borrower to
meet the contractual obligations referred to in Section 3.1(b). 
 SECTION 2.8. Security Interest Absolute. Until the
Discharge of First Lien Obligations, all rights of the Collateral Agent and security interests hereunder shall be absolute and unconditional irrespective of: 

(i) any lack of validity or enforceability of any of the Secured Credit Documents or any other agreement or instrument
relating thereto; 
 (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the
First Lien Obligations, or any other amendment or waiver of or any consent to any departure from the Secured Credit Documents or any other agreement or instrument relating thereto; 

(iii) any exchange, release or non-perfection of any other collateral, or any release or amendment or waiver of or consent to
any departure from any guaranty, for all or any of the First Lien Obligations; or 
 (iv) any other circumstance which
might otherwise constitute a defense available to, or a discharge of, the Borrower, any Subsidiary Guarantor or a third-party pledgor. 

SECTION 2.9. Identification and Confirmation of Proceeds of Accounts. The Depositary Bank agrees to cause Cash Equivalents related to
an Account to be promptly identified to the appropriate Account from which it was invested in accordance with the terms hereof, and to no other Account and in no other name. No interest of any Person other than the interests of the First Lien
Secured Parties and the Borrower, as applicable, shall be identified to the Accounts or the Cash Equivalents therein. 
 SECTION 2.10.
Power of Attorney. With respect to the powers and rights granted to the Collateral Agent in Article III, the Borrower hereby constitutes and appoints the Collateral Agent its true and lawful attorney-in-fact to make the direct payments
specified therein, and this power of attorney shall be deemed to be a power coupled with an interest and shall be irrevocable. No further direction or authorization from the Borrower shall be necessary to warrant or permit the Collateral Agent to
direct such payments in accordance with the foregoing sentence and Article III. Without limiting the foregoing, with respect to any payments directed to be made by the Collateral Agent or made by the Depositary Bank directly to a third party
pursuant to the terms hereof, all such direct payments shall satisfy the obligations of the Depositary Bank, the Collateral Agent and the other First Lien Secured Parties hereunder, and shall be secured by the Security Documents as fully as if made
directly to the Borrower regardless of the disposition thereof by any other Person. 

  
 20 

 ARTICLE III 

THE ACCOUNTS 

SECTION 3.1. Accounts. 

(a) Deposits into Accounts. 

(i) The following amounts shall be deposited into the Revenue Account directly, or if received by the Borrower or any
Subsidiary Guarantor, as soon as practicable upon receipt: 
 (A) all Revenue received by the Borrower or any Subsidiary
Guarantor (other than any amounts paid by SPL to CEILLC pursuant to the [Terminal Use Rights and Assignment Agreement or SPL O&M Agreement]); 

(B) all net payments paid to the Borrower under any Permitted Hedging Agreement; 

(C) all amounts required to be transferred to the Revenue Account from any other Account as contemplated under this
Agreement; and 
 (D) any otherwise unidentified funds received by the Borrower and any Subsidiary Guarantor; 

provided that the Borrower and, after becoming Subsidiary Guarantors, CEILLC, Tug Services, CCTP and SPLNG shall be permitted to retain in
their applicable Local Operating Account an amount equal to (1) in the case of the Borrower, without duplication of the amounts in clauses (2) and (3), the sum of the Borrower Operation and Maintenance Expenses then due and owing
(including any amount owing from a prior month) plus expected Borrower Operation and Maintenance Expenses for the following forty-five (45) days; (2) in the case of CEILLC, the sum of the Borrower Operation and Maintenance Expenses then
due and owing by CEILLC (including any amount owing from a prior month) plus expected Borrower Operation and Maintenance Expenses of CEILLC for the following forty-five (45) days; (3) in the case of Tug Services, the sum of the Borrower
Operation and Maintenance Expenses then due and owing by Tug Services (including any amount owing from a prior month) plus expected Borrower Operation and Maintenance Expenses of Tug Services for the following forty-five (45) days; (4) in
the case of CCTP, the sum of the CCTP Operation and Maintenance Expenses then due and owing (including any amount owing from a prior month) plus expected CCTP Operation and Maintenance Expenses for the following forty-five (45) days;
(5) in the case of SPLNG, the sum of the SPLNG Operation and Maintenance Expenses then due and owing (including any amount owing from a prior month) plus expected SPLNG Operation and Maintenance Expenses for the following forty-five
(45) days; and, for the avoidance of doubt, the Borrower, CEILLC, Tug Services, CCTP and SPLNG shall not be required to transfer such amounts to the Revenue Account. 

  
 21 

 (ii) If any of the foregoing amounts required to be deposited with the
Depositary Bank in accordance with the terms of this Agreement are received by any Credit Party, such Credit Party shall hold such payments in trust for the Collateral Agent and shall immediately remit such payments, or cause such payments to be
remitted, to the Depositary Bank for deposit in the Revenue Account in the form received, with any necessary endorsements. 

(iii) Any amounts deposited into any Account by or on behalf of any Subsidiary Guarantor shall, to the extent of such
deposit, constitute either a dividend payment from such Subsidiary Guarantor to the Borrower or a repayment of, or a making of, an intercompany loan by or to the Borrower. Any payments made by the Borrower, to or on behalf of, any Subsidiary
Guarantor, from any of the Accounts shall, to the extent of such payment, constitute a capital contribution to such Subsidiary Guarantor by the Borrower or a making of, or a repayment of, an intercompany loan by or to such Subsidiary Guarantor. 

(iv) In the event the Depositary Bank receives any Account Property without adequate instruction with respect to the proper
Account in which such Account Property is to be deposited, the Depositary Bank shall deposit such Account Property into the Revenue Account and segregate such Account Property from all other Account Property on deposit in the Revenue Account and
notify the Borrower and the Collateral Agent of the receipt of such Account Property. Upon receipt of written instructions from the Borrower acknowledged in writing by the Collateral Agent, the Depositary Bank shall transfer such Account Property
from the Revenue Account to the Account specified by such instructions. The Depositary Bank agrees that all property delivered to the Depositary Bank pursuant to any of the Secured Credit Documents will be promptly credited to the Revenue Account
or, if otherwise instructed in writing, to any other appropriate Account. 
 (b) Revenue Account Waterfall. Each of the Borrower and
the Collateral Agent hereby irrevocably authorize the Depositary Bank to make withdrawals and transfers of amounts (via wire transfer or via another method directed by the Borrower in writing and acknowledged in writing by the Collateral Agent (such
acknowledgment not to be unreasonably withheld) and reasonably acceptable to the Depositary Bank), to the extent then available in the Revenue Account, as provided herein, in the amounts (to the extent thereof), at the times, for the purposes and in
the order of priority set forth below: 
 First, the Depositary Bank shall, from time to time on each Monthly Date
pursuant to a Revenue Account Transfer Certificate or on such other date pursuant to a Supplemental Revenue Account Transfer Certificate duly completed and delivered in accordance with Section 2.7(b), transfer to, at the election of
Borrower, the Operating Account and or the Local Operating Accounts, in any case, from the Revenue Account, to the extent available, an amount equal to (x) the sum of Operation and Maintenance Expenses then due and owing (including any amount
owing from a prior month) plus expected Operation and Maintenance Expenses for the 45-day period immediately following such Monthly Date minus (y) the amounts on deposit in the Operating Account and the Local Operating Accounts. 

  
 22 

 Second, from time to time when due, as specified in the Revenue Account
Transfer Certificate referenced below, after transfer of amounts in accordance with clause First on such date, if any, the Depositary Bank shall to the extent available, pay all the fees, expenses or other amounts (including fronting fees, if any)
then due and owing, to the Depositary Bank, the Collateral Agent, each Senior Class Debt Representative and each Issuing Bank (or issuing bank under any other First Lien Secured Debt Instrument), in their capacities as such (including the reasonable
fees and expenses of their respective counsel) as set forth in a Revenue Account Transfer Certificate duly completed and delivered in accordance with Section 2.7; provided that if funds available to make such payments are not
sufficient to make all such payments, the Depositary Bank shall apply the remaining funds on a pro rata basis based on the amounts owing to each such Person. 

Third, on each Interest Payment Date or from time to time when due, after transfer of amounts in accordance with
clauses First and Second on such date, if any, the Depositary Bank shall transfer either (1) to the Debt Service Payment Account or (2) with respect to amounts then due and payable or becoming due and payable on the
date of the requested transfer, at the election of the Borrower, directly to the applicable Senior Class Debt Representative or the other applicable Person, to the extent available, as the case may be, the amount of (i) (A) all fees (but
excluding fees payable under clause Second) under and in respect of the Secured Credit Documents, (B) all interest on Loans under the Credit Agreement, and (C) all interest under any Additional First Lien Documents;
(ii) payments to Lender Counterparties under Permitted Hedging Agreements (other than Hedging Termination Values); and (iii) any other First Lien Obligations pursuant to the Secured Credit Documents (but excluding amounts payable under
clause Fourth), in each case, that are then due and payable, becoming due and payable on the date of the requested transfer or becoming due and payable on or prior to the immediately succeeding Quarterly Payment Date and as set forth
in a Revenue Account Transfer Certificate duly completed and delivered in accordance with Section 2.7; provided that if funds available to make such payments are not sufficient to make all such payments, the Depositary Bank shall
apply the remaining funds on a pro rata basis based on the amounts owing to each such Person. 
 Fourth, on each
Quarterly Payment Date or from time to time when due, after transfer of amounts in accordance with clauses First, Second and Third on such date, if any, the Depositary Bank shall transfer either (1) to the Debt Service
Payment Account or (2) with respect to amounts then due and payable or becoming due and payable on the date of the requested transfer, at the election of the Borrower, directly to the applicable Senior Class Debt Representative or the other
applicable Person, to the extent available, an amount set forth on the Revenue Account Transfer Certificate specified below, which equals the sum (without duplication) of (A) the principal amount (including any applicable premium) of
(1) all outstanding Credit Extensions and (2) all outstanding principal amounts under the Additional First Lien Documents; and (B) payments in respect of Hedging Termination Values (or, to the extent the applicable Lender

  
 23 

 
Counterparty is precluded by virtue of any consent to assignment from terminating any such agreement at such time, the amount which would be due if such Permitted Hedging Agreement were
terminated), in each case, that are then due and payable, becoming due and payable on the date of the requested transfer or becoming due and payable on or prior to the immediately succeeding Quarterly Payment Date, and (ii) from time to time
when due, the Depositary Bank shall transfer to the applicable L/C Cash Collateral Account, to the extent available, an amount set forth on the Revenue Account Transfer Certificate specified below, payments that are then due and payable under
Section 2.21(d) of the Credit Agreement, in each case as set forth in a Revenue Account Transfer Certificate duly completed and delivered in accordance with Section 2.7; provided that if funds available to make such
payments are not sufficient to make all such payments, the Depositary Bank shall apply the remaining funds on a pro rata basis based on the amounts owing to each such Person. 

Fifth, on each Monthly Date, after the application of funds provided for in clauses First, Second,
Third and Fourth on such date, if any, the Depositary Bank shall transfer (i) to the Credit Agreement Debt Service Reserve Account an amount from the Revenue Account, to the extent available, that is sufficient to cause the balance on deposit
in the Credit Agreement Debt Service Reserve Account to equal the then applicable Credit Agreement Debt Service Reserve Requirement and (ii) to each Additional Debt Service Reserve Account an amount from the Revenue Account, to the extent
available, that is sufficient to cause the balance on deposit in such Additional Debt Service Reserve Account to equal the then applicable Additional Debt Service Reserve Requirement, as set forth in a Revenue Account Transfer Certificate duly
completed and delivered in accordance with Section 2.7; provided that if funds available to make such payments are not sufficient to make all such payments, the Depositary Bank shall apply the remaining funds on a pro rata basis
based on the amounts owing to each such Person. 
 Sixth, on each Quarterly Payment Date, after the application of
funds provided for in clauses First, Second, Third, Fourth and Fifth on such date, if any, the Depositary Bank shall transfer to the Persons to whom such Indebtedness is owed, from the Revenue Account, to
the extent available, the amounts (without duplication) owing by the Borrower or any Subsidiary Guarantor under any Permitted Debt (to the extent representing Indebtedness for borrowed money) on such Quarterly Payment Date, as set forth in a Revenue
Account Transfer Certificate duly completed and delivered in accordance with Section 2.7. 
 Seventh, on each
Quarterly Payment Date, after the application of funds provided for in clauses First, Second, Third, Fourth, Fifth and Sixth on such date, if any, the Depositary Bank shall transfer to the Persons to
whom such amounts are owed, from the Revenue Account, to the extent available, an amount equal to any Capital Expenditures not paid pursuant to clause First above that are then due and payable by the Borrower or any Subsidiary Guarantor as of such
Monthly Date, to the extent permitted to be paid pursuant to the Secured Credit Documents, and/or any investments permitted to be made by Credit Parties pursuant to Section 6.5 of the Credit Agreement (and any similar provision of any other
Secured Credit Document), as set forth in a Revenue Account Transfer Certificate duly completed and delivered in accordance with Section 2.7. 

  
 24 

 Eighth, on each Quarterly Payment Date, after the application of funds
provided for in clauses First, Second, Third, Fourth, Fifth, Sixth and Seventh on such date, if any, to the extent available and to the extent permitted by, and upon satisfaction of any
conditions specified in, the Secured Credit Documents then in effect, the Depositary Bank shall transfer to the Local Distribution Account of the Borrower the amount necessary for payment of the income tax liability of the Credit Parties with
respect to income generated by the Credit Parties, determined in a manner specified in the Secured Credit Documents, for the applicable period, as set forth in a Revenue Account Transfer Certificate duly completed and delivered in accordance with
Section 2.7. 
 Ninth, on any Quarterly Payment Date, after the application of funds provided for in
clauses First, Second, Third, Fourth, Fifth, Sixth, Seventh and Eighth on such date, if any, (i) to the extent any funds remain on deposit in the Revenue Account and (ii) to
the extent the Borrower has directed the Depositary Bank in the applicable Revenue Account Transfer Certificate duly completed and delivered in accordance with Section 2.7, the Depositary Bank shall transfer an amount up to the
Borrower’s Available Cash (as defined in the CQP LP Agreement) to the Local Distribution Account of the Borrower, as set forth in a Revenue Account Transfer Certificate duly completed and delivered in accordance with Section 2.7.

 (c) Notwithstanding anything to the contrary herein, on the Closing Date and on each Funding Date, the Depositary Bank shall make the
transfers and disbursements of funds as specified in the applicable Funds Flow Memorandum, without any requirement for delivery of any of the certificates or other instruments. 

SECTION 3.2. Operating Account 

(a) The following amounts shall be deposited into the Operating Account directly, or if received by the Borrower or any Subsidiary Guarantor,
as soon as practicable upon receipt: 
 (i) all amounts transferred pursuant to Section 3.1(b) clause First;

 (ii) all proceeds of Revolving Loans received by the Borrower in accordance with the Credit Agreement, except those
(x) borrowed for the purposes set forth in Section 2.5(b)(iii)(A) of the Credit Agreement, (y) paid directly to the applicable payee or (z) deposited into a Local Operating Account; and 

(iii) any amounts required to be paid by one Credit Party to another Credit Party for Operation and Maintenance Expenses,
except those amounts deposited into a Local Operating Account. 
 (b) Other than following a Triggering Event, the Borrower may request
from time to time, by delivering an Operating Account Withdrawal Certificate to the 

  
 25 

 
Depositary Bank, that funds in the Operating Account (i) be applied directly to the payment of amounts owing by any Credit Party in the amounts required for, and to be applied to, payment of
Operation and Maintenance Expenses and/or (ii) be transferred (A) to the Borrower’s Local Operating Account, without duplication of the amounts in clauses (B) and (C), the sum of the Borrower Operation and Maintenance Expenses
then due and owing (including any amount owing from a prior month) plus expected Borrower Operation and Maintenance Expenses for the following forty-five (45) days; (B) to CEILLC’s Local Operating Account, the sum of the Borrower
Operation and Maintenance Expenses then due and owing by CEILLC (including any amount owing from a prior month) plus expected Borrower Operation and Maintenance Expenses of CEILLC for the following forty-five (45) days; (C) to Tug
Services’ Local Operating Account, the sum of the Borrower Operation and Maintenance Expenses then due and owing by Tug Services (including any amount owing from a prior month) plus expected Borrower Operation and Maintenance Expenses of Tug
Services for the following forty-five (45) days; (D) to CCTP’s Local Operating Account, the sum of the CCTP Operation and Maintenance Expenses then due and owing (including any amount owing from a prior month) plus expected CCTP
Operation and Maintenance Expenses for the following forty-five (45) days; and (E) to SPLNG’s Local Operating Account, the sum of the SPLNG Operation and Maintenance Expenses then due and owing (including any amount owing from a prior
month) plus expected SPLNG Operation and Maintenance Expenses for the following forty-five (45) days, in each case less the amount on deposit in such Local Operating Account. 

SECTION 3.3. Debt Service Payment Account 

(a) The Borrower shall cause all amounts directed to be transferred pursuant to Section 3.1(b) clause Third and Fourth to
be deposited into the Debt Service Payment Account. 
 (b) On each Quarterly Payment Date (or any other date when payment of Senior Secured
Debt is due), amounts shall be withdrawn from the Debt Service Payment Account at the request of the Borrower, by delivering a Debt Service Payment Withdrawal Certificate to the Depositary Bank (or, if the Borrower fails to deliver such Debt Service
Payment Withdrawal Certificate, at the written direction of the Collateral Agent) and applied (i) first, to the pro rata payment of interest on the Senior Secured Debt then due and owing and to the scheduled payments then due and owing by the
Borrower pursuant to the Permitted Hedging Agreements (but excluding any payments of Hedging Termination Value) and (ii) second, to the pro rata repayment of the principal of the Senior Secured Debt (other than principal of Revolving Loans and
DSR Loans) then due and owing and payments for any Hedging Termination Value then due and payable by the Borrower with respect to any Permitted Hedging Agreements. 

SECTION 3.4. Local Operating Accounts; Local CEILLC Management Account. 

(a) The Local Operating Accounts shall be maintained as funds from which the Borrower, CEILLC, Tug Services, CCTP or SPLNG, as applicable,
may draw and pay from time to time (without any approval or consent of the Collateral Agent or any other Person) such amounts for the purposes described in clause First of Section 3.1(b), so long as the financial institution
holding such Local Operating Account has not received a written notice from the 

  
 26 

 
Collateral Agent that a Triggering Event has occurred, which notice has not been withdrawn in writing, at the time of such withdrawal. If a Triggering Event has occurred and is continuing, the
Borrower and, upon becoming a Subsidiary Guarantor, CCTP and SPLNG agree that the Collateral Agent shall have the right, but not the obligation, to make such withdrawals. The Depositary Bank shall have no responsibility or liability with respect to
the Local Operating Accounts. 
 (b) Each Credit Party shall cause all amounts owed to another Credit Party for the payment of Operation
and Maintenance Expenses to be deposited into the Operating Account and/or applicable Local Operating Account. 
 (c) On and following the
CCTP Funding Date until the SPLNG Funding Date, CEILLC shall cause SPLNG to deposit all amounts paid by SPLNG to CEILLC directly into the Local Operating Account of CEILLC. Any such amounts not used by CEILLC to make payments to SPLNG in connection
with the SPL TUA and/or pursuant to the Terminal Use Rights Assignment and Agreement shall be transferred to the Revenue Account. 
 (d)
With respect to the Local Operating Account of the Borrower, the Borrower shall deliver to the Collateral Agent a fully executed Control Agreement within thirty (30) days following the Closing Date. 

(e) With respect to the Local Operating Account of CEILLC, CEILLC shall deliver to the Collateral Agent a fully executed Control Agreement
within thirty (30) days following the CCTP Funding Date. 
 (f) With respect to the Local Operating Account of Tug Services, Tug
Services shall deliver to the Collateral Agent a fully executed Control Agreement within thirty (30) days following the SPLNG Funding Date. 

(g) With respect to the Local Operating Account of CCTP, CCTP shall deliver to the Collateral Agent a fully executed Control Agreement within
thirty (30) days following the CCTP Funding Date. 
 (h) With respect to the Local Operating Account of SPLNG, SPLNG shall deliver to
the Collateral Agent a fully executed Control Agreement within thirty (30) days following the SPLNG Funding Date. 
 (i) CEILLC shall
cause all amounts received from SPL pursuant to the Terminal Use Rights and Assignment Agreement or SPL O&M Agreement to be deposited directly into the Local CEILLC Management Account. CEILLC shall be permitted to make payments using proceeds on
deposit in the Local CEILLC Management Account as contemplated by the Terminal Use Rights and Assignment Agreement, or SPL O&M Agreement (including payments made pursuant to the Secondment Agreement). 

(j) The Credit Parties shall deposit all proceeds of Revolving Loans (or other revolving loans under any Replacement Debt) borrowed for the
purpose of paying any Capital Expenditures not paid pursuant to clause First of Section 3.1(b) into the Local Discretionary Capex Account. The Credit Parties shall within forty-five (45) days following the

  
 27 

 
deposit thereof either (i) use all amounts on deposit in the Local Discretionary Capex Account for Capital Expenditures not paid pursuant to clause First of Section 3.1(b)
or (ii) repay the Revolving Loans (or other revolving loans under any Replacement Debt) in accordance with the applicable First Lien Secured Debt Instrument. 

(k) The Credit Parties shall be permitted to open other deposit and/or securities accounts (A) to the extent permitted under the Secured
Credit Documents and (B) subject to any requirements under any Security Documents that require such Credit Party to take certain perfection actions in respect of such additional deposit and/or securities account. 

SECTION 3.5. Debt Service Reserve Accounts. 

(a) On the CCTP Funding Date and at all times thereafter, the Borrower shall cause the aggregate amount of cash and letters of credit
(including Letters of Credit) on deposit in the Credit Agreement Debt Service Reserve Account to equal the Credit Agreement Debt Service Reserve Requirement. 

(b) On the first date required by any Additional First Lien Debt Facility and at all times thereafter, the Borrower shall cause the aggregate
amount of cash and letters of credit on deposit in the applicable Additional Debt Service Reserve Account to equal the applicable Additional Debt Service Reserve Requirement. 

(c) The Depositary Bank shall transfer amounts from the Credit Agreement Debt Service Reserve Account to other Accounts if and as required
under Section 3.11 and Section 3.5(d) of this Agreement and from any Additional Debt Service Reserve Account as required under Section 3.11 and Section 3.5(e) of this Agreement. 

(d) So long as no Trigger Notice is outstanding, upon receipt of a DSR Account Transfer Certificate duly completed and delivered in
accordance with Section 2.7, certifying that the balance in the Credit Agreement Debt Service Reserve Account, calculated as the sum of cash, Letters of Credit and Acceptable Third Party DSR LCs on deposit in the Credit Agreement Debt Service
Reserve Account, exceeds the Credit Agreement Debt Service Reserve Requirement and detailing the amounts to be withdrawn and transferred and/or amounts of Letters of Credit or Acceptable Third Party DSR LCs to be reduced, such excess amounts shall
be applied as follows: (i) first, the beneficiary of such Acceptable Third Party DSR LC(s) shall deliver a reduction certificate to the financial institution(s) issuing the Acceptable Third Party DSR LC(s) standing to the credit of the
Credit Agreement Debt Service Reserve Account, if any, (with a copy to the Depositary Bank and Collateral Agent) in the amount of the lesser of such excess and the outstanding face amount of such Acceptable Third Party DSR LC(s),
(ii) second, to the extent any excess remains, the beneficiary of such Letter(s) of Credit shall deliver a reduction certificate to the Issuing Bank(s) issuing the Letter(s) of Credit standing to the credit of the Credit Agreement Debt
Service Reserve Account, if any, (with a copy to the Depositary Bank and Collateral Agent) in the amount of the lesser of such remaining excess and the outstanding face amount of such Letter(s) of Credit (applied pro rata among such outstanding
Letters of Credit) and (iii) third, to the extent any excess remains, the Depositary Bank shall transfer all amounts of cash comprising such excess identified in such withdrawal certificate in the Credit Agreement Debt Service Reserve
Account to the Revenue Account. 

  
 28 

 (e) So long as no Trigger Notice is outstanding, upon receipt of a DSR Account Transfer
Certificate duly completed and delivered in accordance with Section 2.7, certifying that the balance in any Additional Debt Service Reserve Account, calculated as the sum of cash and letters of credit on deposit in such Additional Debt Service
Reserve Account (unless otherwise required by the terms of the applicable Additional First Lien Debt Facility), exceeds the applicable Additional Debt Service Reserve Requirement and detailing the amounts to be withdrawn and transferred and/or
amounts of letters of credit to be reduced, such excess amounts shall be applied as follows: (i) first, the beneficiary of such letters of credit shall deliver a reduction certificate to the issuers of the letters of credit standing to
the credit of such Additional Debt Service Reserve Account, if any, (with a copy to the Depositary Bank and Collateral Agent) in the amount of the lesser of such remaining excess and the outstanding face amount of such letters of credit (applied pro
rata among such outstanding letters of credit) and (ii) second, to the extent any excess remains, the Depositary Banks shall transfer all amounts of cash comprising such excess identified in such DSR Account Transfer Certificate in the
applicable Additional Debt Service Reserve Account to the Revenue Account. 
 (f) Upon the acceleration of any amounts under the Credit
Agreement (and upon receipt of written notice of the same by the Depositary Bank), the Collateral Agent (at the instruction of the Credit Agreement Administrative Agent) may apply (or cause to be applied) all amounts on deposit in, or credited to,
the Credit Agreement Debt Service Reserve Account (including by making a draw ratably on each Letter of Credit and Acceptable Third Party DSR LC, and in each case applying any such funds received in connection therewith), as follows
(i) first, to the payment of interest then due and payable in respect of the Term Loans, (ii) second, to payment of all principal, and if applicable, premium then due and payable in respect of the Term Loans and
(iii) third, to the payment of any other amounts then due and payable under or in respect of the Term Loans, in each case as notified by the Collateral Agent to the Depositary Bank in writing in accordance with
Section 2.7(a). After giving effect to any such payments, any remaining amounts on deposit in, or credited to, the Credit Agreement Debt Service Reserve Account shall (x) so long as any Obligations under the Credit Agreement (or
commitments in respect thereof) remain outstanding, be held by the Collateral Agent as cash collateral and applied to the repayment of any Obligations under the Credit Agreement that are not paid when due (as shall be instructed by the Collateral
Agent to the Depositary Bank in writing in accordance with Section 2.7) and (y) if no Obligations under the Credit Agreement (and no commitments in respect thereof) remain outstanding, be transferred to the Revenue Account pursuant
to a written instruction to the Depositary Bank in accordance with Section 2.7. 
 (g) Upon the acceleration of any amounts
under the other First Lien Secured Debt Instruments (and upon receipt of written notice of the same by the Depositary Bank), the Collateral Agent (at the instruction of the Secured Class Debt Representative representing the First Lien Secured
Parties for whom such Additional Debt Service Reserve Account was established) may apply (or cause to be applied) all amounts on deposit in, or credited to, each Additional Debt Service Reserve Account, as follows (i) first, to the
payment of interest then due and payable in respect of the applicable Series of DSR Secured Additional First Lien Obligations, (ii) second, to payment of all principal, and if applicable, premium then due and payable in respect of the
applicable Series of DSR Secured Additional First Lien Obligations and (iii) third, to the payment of any other amounts then due and payable under or in respect of the applicable Series of DSR Secured Additional First Lien Obligations
(in each case as notified 

  
 29 

 
by the Collateral Agent to the Depositary Bank). After giving effect to any such payments, any remaining amounts on deposit in, or credited to, the each Additional Debt Service Reserve Account
shall (x) so long as any applicable DSR Secured Additional First Lien Obligations remain outstanding, be held by the Collateral Agent as cash collateral and applied to the repayment of any applicable DSR Secured Additional First Lien
Obligations that are not paid when due (as shall be notified by the Collateral Agent to the Depositary Bank) and (y) if no applicable DSR Secured Additional First Lien Obligations remain outstanding, be transferred to the Revenue Account. 

SECTION 3.6. Net Insurance/Condemnation Proceeds Account. All Net Insurance/Condemnation Proceeds received by or on behalf of any
Credit Party shall be deposited in the Net Insurance/Condemnation Proceeds Account and identified to the Depositary Bank as Net Insurance/Condemnation Proceeds. If any of the foregoing amounts required to be deposited with the Depositary Bank in
accordance with the terms of this Agreement are received by any Credit Party, such Credit Party shall hold such payments in trust for the Collateral Agent and shall immediately remit such payments to the Depositary Bank for deposit in the applicable
Net Insurance/Condemnation Proceeds Account in the form received, with any necessary endorsements. 
 (a) Subject to the provisions of this
Section 3.6 and only to the extent permitted pursuant to Section 5.5 of the Credit Agreement and any similar provision of any other Secured Debt Instrument, the Borrower may request (pursuant to a Net Insurance/Condemnation Proceeds
Account Withdrawal Certificate duly completed and delivered in accordance with Section 2.7) the transfer or withdrawal of Excluded Insurance/Condemnation Proceeds to repair, restore or replace the damaged or destroyed assets to which such
Excluded Insurance/Condemnation Proceeds relate or to repay Permitted Debt of the Credit Party that received such Excluded Insurance/Condemnation Proceeds. 

(b) The Borrower may request (pursuant to a Net Insurance/Condemnation Proceeds Account Withdrawal Certificate duly completed and delivered
by the Borrower to the Depositary Bank in accordance with Section 2.7) the transfer or withdrawal of any Net Insurance/Condemnation Proceeds other than Excluded Insurance/Condemnation Proceeds or Prepayment Insurance/Condemnation Proceeds for
application in accordance with Section 5.5 of the Credit Agreement and any similar provision of any other Secured Debt Instrument. 

(c) The Borrower shall request (pursuant to a Net Insurance/Condemnation Proceeds Account Withdrawal Certificate duly completed and delivered
by the Borrower to the Depositary Bank in accordance with Section 2.7) the transfer or withdrawal of any Prepayment Insurance/Condemnation Proceeds to repay the First Lien Obligations in accordance with Section 2.13(b) and
Section 2.14(b) of the Credit Agreement and any similar provision of any other Secured Debt Instrument. 
 (d) Any business
interruption insurance proceeds received by the Collateral Agent, any Senior Class Debt Representative or any Credit Party shall be deposited into the Revenue Account for application in accordance with Section 3.1(b) (Revenue Account).

  
 30 

 SECTION 3.7. Disposition Proceeds Account. 

(a) All Net Asset Sale Proceeds shall be deposited by the applicable Credit Party (or caused by the applicable Credit Party to be deposited)
in the Disposition Proceeds Account as soon as practicable upon receipt and identified to the Depositary Bank as such. If any of the foregoing amounts required to be deposited with the Depositary Bank in accordance with the terms of this Agreement
are received by any Credit Party, such Credit Party shall hold such payments in trust for the Collateral Agent and shall immediately remit such payments to the Depositary Bank for deposit in the Disposition Proceeds Account, in the form received,
with any necessary endorsements. 
 (b) So long as no Trigger Notice is outstanding and subject to the provisions of this
Section 3.7, upon receipt by a Responsible Officer of the Depositary Bank of a Disposition Proceeds Account Withdrawal Certificate duly completed and delivered in accordance with Section 2.7 detailing the amounts and Persons
(including appropriate wire transfer instructions for each such Person) to be paid from the amounts therein as permitted pursuant to Section 2.13(a) of the Credit Agreement, the Depositary Bank shall transfer funds in the Disposition Proceeds
Account as directed in such Disposition Proceeds Amount Withdrawal Certificate. 
 (c) If (i) any amounts remain in the Disposition
Proceeds Account for a period in excess of the period specified in Section 2.13(a) of the Credit Agreement or any similar provision of any other Secured Debt Instrument (as may be extended pursuant to Section 2.13(a) of the Credit
Agreement or any similar provision of any other Secured Debt Instrument) from the deposit of such amounts therein or (ii) any amounts on deposit in the Disposition Proceeds Account are not entitled to be reinvested pursuant to
Section 2.13(a) of the Credit Agreement, or any similar provision of any other Secured Debt Instrument or Section 3.7(b), the Borrower shall promptly deliver to the Depositary Bank a Disposition Proceeds Account Withdrawal
Certificate duly completed and delivered in accordance with Section 2.7 instructing the Depositary Bank to transfer such amounts on deposit in the Disposition Proceeds Account to the Credit Agreement Administrative Agent and/or any other Senior
Class Debt Representative to prepay or Cash Collateralize outstanding First Lien Obligations in accordance with Sections 2.13(a), 2.14(b) and 2.15 of the Credit Agreement and any similar provisions of any other Secured Debt Instrument. 

(d) Any bona fide direct costs incurred in connection with such Asset Sale, including (i) income or gains taxes payable by the seller as
a result of any gain recognized in connection with such Asset Sale and (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured by a Lien on the
stock or assets in question and that is required to be repaid under the terms thereof as a result of such Asset Sale, shall, in each case, be deposited into a sub-account of the Disposition Proceeds Account until such time as they are required to be
used as set forth above, when they shall be transferred to the Revenue Account or paid directly to the Persons entitled thereto pursuant to a Disposition Proceeds Account Withdrawal Certificate duly completed and delivered in accordance with
Section 2.7. To the extent such amounts are not used by the Borrower or any Subsidiary Guarantor for the purposes set forth above, they shall be treated as Net Asset Sale Proceeds pursuant to this Section 3.7. 

  
 31 

 SECTION 3.8. Account Balance Statements. The Depositary Bank shall, on a monthly basis
within five (5) Business Days day after the end of each month, on an annual basis within thirty (30) days after the end of each year, and at such other times as the Collateral Agent or the Borrower may from time to time reasonably request,
provide to the Collateral Agent and the Borrower account balance statements in respect of each of the Accounts. Such balance statements shall also include deposits and transfers to, withdrawals from, and the net investment income or gain received
and collected for, each Account. The Borrower and the Collateral Agent waive the right to receive brokerage confirmations of security transactions effected by the Depositary Bank as they occur, to the extent permitted by law. The Borrower and the
Collateral Agent further understand that trade confirmations for securities transactions effected by the Depositary Bank will be available upon request and at no additional cost and other trade confirmations may be obtained from the applicable
broker. The Depositary Bank may satisfy the information requirements in this Section 3.8 by granting the Borrower and the Collateral Agent access to the Depositary Bank’s online platform for accessing information with respect to the
Accounts. 
 SECTION 3.9. L/C Cash Collateral Account(s). 

(a) All amounts required to be deposited to Cash Collateralize Obligations of the Credit Parties pursuant to the Credit Agreement (including
pursuant to Section 2.3, Section 2.14(b), Section 2.21(a)(i) and Section 2.21(d)) in respect of Letters of Credit shall be deposited in the applicable L/C Cash Collateral Accounts, provided that an L/C Cash Collateral
Account shall be established pursuant to Section 2.3 with respect to each Issuing Bank. If any of the foregoing amounts required to be deposited with the Depositary Bank in accordance with the terms of this Agreement are received by any
Credit Party, such Credit Party shall hold such payments in trust for the Collateral Agent and shall immediately remit such payments to the Depositary Bank for deposit in the applicable L/C Cash Collateral Account, in the form received, with any
necessary endorsements. 
 (b) All Cash Collateral deposited into any L/C Cash Collateral Account shall be held by the Depositary Bank as
collateral for the payment and performance of the obligations of the Borrower, under the Credit Agreement in respect of Letters of Credit. Interest or profits of any investment of funds on deposit in any L/C Cash Collateral Account shall accumulate
in such account. 
 (c) Any amounts standing to the credit of any L/C Cash Collateral Account shall be applied in accordance with
Section 2.21(d)(ii) and Section 2.21(d)(iii) of the Credit Agreement with respect to Letters of Credit issued by the applicable Issuing Bank. 

(d) Subject to Section 3.9(c), upon the acceleration of any amounts under, and on any other date as permitted by the Credit
Agreement (as shall be notified by the Credit Agreement Administrative Agent or the applicable Issuing Bank, as applicable, to the Depositary Bank and the Collateral Agent), amounts on deposit in, or credited to each L/C Cash Collateral Account
shall be applied by the Depositary Bank (upon the written direction of the applicable Issuing Bank, including, as applicable, through the written direction of the Collateral Agent) in the following manner and in the following order of priority or as
otherwise directed in writing by the applicable Issuing Bank: first, to the applicable Issuing Bank to pay all fees, costs 

  
 32 

 
and expenses then owing to such Issuing Bank, second, pro rata to the applicable Issuing Bank to pay all outstanding interest and fees then due and payable under or in respect of any DSR
Loans or Revolving Loans, as applicable, outstanding in respect of Letters of Credit issued by such Issuing Bank, third, as repayment in full of all outstanding DSR Loans and Revolving Loans, as applicable, outstanding and to the Issuing Bank
in respect of Letters of Credit issued by such Issuing Bank and fourth, so long as any Letters of Credit issued by such Issuing Bank shall remain outstanding, held in such L/C Cash Collateral Account for application to future amounts of fees,
costs, expenses, interest and/or principal that may thereafter become due and payable in respect of Letters of Credit issued by such Issuing Bank. 

(e) At such time as the Letter of Credit Issuance Commitments of any Issuing Bank have been reduced to zero, there are no outstanding Letters
of Credit issued by such Issuing Bank and the DSR Loans or Revolving Loans outstanding (and all other amounts payable) with respect to Letters of Credit issued by such Issuing Bank have been paid in full in cash (as shall be notified in writing by
the Credit Agreement Administrative Agent to the Depositary Bank and the Collateral Agent), amounts on deposit in such Issuing Bank’s L/C Cash Collateral Account shall be transferred to the Revenue Account, upon a written instruction properly
made in accordance with Section 2.7, for further application in accordance with Section 3.1(b). 
 SECTION 3.10.
Local Distribution Account. 
 (a) The following amounts shall be deposited into the Local Distribution Account of the Borrower
directly, or if received by the Borrower or any Subsidiary Guarantor, as soon as practicable upon receipt: 
 (i) all
amounts required to be transferred pursuant to Section 3.1(b) clause Ninth; 
 (ii) all proceeds of Revolving
Loans made pursuant to Section 3.4(b) of the Credit Agreement for the purposes set forth in Section 2.5(b)(iii)(A) of the Credit Agreement); and 

(iii) all other amounts under any Secured Credit Document (other than the Credit Agreement) that are permitted under such
Secured Credit Document to be deposited into the Local Distribution Account. 
 (b) With respect to the Local Distribution Account of the
Borrower, the Borrower shall deliver to the Collateral Agent a fully executed Control Agreement within thirty (30) days following the Closing Date. 

(c) No Credit Party shall make any Restricted Payments from the Local Distribution Account until it has satisfied of each of the conditions
specified in the Secured Credit Documents (including, without limitation, the conditions set forth in Section 6.17 of the Credit Agreement and confirmation (which shall be provided to the Depositary Bank in writing) that the Collateral Agent
has received the Restricted Payment Certificate required by Section 6.17(a)(G) of the Credit Agreement) and any other certificate required to be delivered pursuant to any Additional First Lien Debt Facility. 

  
 33 

 SECTION 3.11. Invasion of Accounts. 

(a) Operating and Maintenance Expenses Deficiency. One Business Day prior to any Business Day on which disbursements are required to
be made pursuant to clause First of Section 3.1(b), if the amounts on deposit in the Revenue Account or credited thereto are not sufficient to make such disbursements, the Depositary Bank shall notify the Collateral Agent and the
Credit Agreement Administrative Agent, it being understood that, in accordance with written instructions from the Collateral Agent, the Depositary Bank shall transfer funds first, from the Disposition Proceeds Account to the Revenue Account,
in an amount equal to such insufficiency, and second from the Net Insurance/Condemnation Proceeds Account to the Revenue Account, in an amount equal to such insufficiency. 

(b) Term Loan Debt Service Deficiency. One Business Day prior to any Business Day on which disbursements are required to be made
pursuant to clauses Second, Third or Fourth of Section 3.1(b), if the amounts on deposit in the Revenue Account or credited thereto are not sufficient to make such disbursements with respect to debt service and fees
due with respect to the Term Loans only (except to the extent that no Term Loans remain outstanding, the amount standing to the credit of the Credit Agreement Debt Service Reserve Account may be used to pay outstanding debt service and fees due on
the Revolving Loans and DSR Loans), the Depositary Bank shall notify the Collateral Agent and the Credit Agreement Administrative Agent, it being understood that, in accordance with written instructions from the Collateral Agent, the Depositary Bank
shall transfer funds from the Credit Agreement Debt Service Reserve Account in an amount equal to such insufficiency, provided, however, that to the extent funds on deposit in the Credit Agreement Debt Service Reserve Account are not
sufficient to cover all such insufficiencies with respect to the Term Loans only, such funds shall be applied first pursuant to clause Second of Section 3.1(b) until the insufficiency is extinguished, second to
clause Third of Section 3.1(b) until the insufficiency is extinguished and third to clause Fourth of Section 3.1(b) until the insufficiency is extinguished. 

(c) Additional First Lien Obligations Debt Service Deficiency. One Business Day prior to any Business Day on which disbursements are
required to be made pursuant to clauses Second, Third or Fourth of Section 3.1(b), if the amounts on deposit in the Revenue Account or credited thereto are not sufficient to make such disbursements with respect to debt service and fees
due with respect to any Series of DSR Secured Additional First Lien Obligations only (except to the extent that no DSR Secured Additional First Lien Obligations remain outstanding with respect to a Series of Additional First Lien Secured
Obligations, the amount standing to the credit of the Additional Debt Service Reserve Account for such Series may be used to pay outstanding debt service and fees due on any other Additional First Lien Obligations of such Series), the Depositary
Bank shall notify the Collateral Agent and the Credit Agreement Administrative Agent, it being understood that, in accordance with written instructions from the Collateral Agent, the Depositary Bank shall transfer funds from the Additional Debt
Service Reserve Account for such Series of DSR Secured Additional First Lien Obligations in an amount equal to such insufficiency, provided, however, that to the extent funds on deposit in such Additional Debt Service Reserve Account are not
sufficient to cover all such insufficiencies with respect to the applicable Series of DSR Secured Additional First Lien Obligations only, such funds shall be applied first pursuant to clause Second of Section 3.1(b) until
the insufficiency is extinguished, second to clause Third of Section 3.1(b) until the insufficiency is extinguished and third to clause Fourth of Section 3.1(b) until the insufficiency is extinguished.

  
 34 

 ARTICLE IV 

DEPOSITARY BANK 

SECTION 4.1. Powers and Immunities of Depositary Bank. 

(a) The Depositary Bank may execute any of its duties under this Agreement by or through agents or attorneys-in-fact and shall be entitled to
advice of counsel of its selection concerning all matters pertaining hereto. 
 (b) The Depositary Bank shall not have any duties or
responsibilities, except those expressly set forth in this Agreement. Without limiting the generality of the foregoing, the Depositary Bank shall take all actions as the Collateral Agent or, subject to Section 2.6(i), the Borrower shall
direct the Depositary Bank to perform in accordance with the express provisions of this Agreement or as the Collateral Agent or, subject to Section 2.6(i), the Borrower may otherwise direct the Depositary Bank to perform in accordance
with the provisions of this Agreement. Notwithstanding anything to the contrary contained herein, the Depositary Bank shall not be required to take any action which is, in the Depositary Bank’s judgment, contrary to this Agreement or any
applicable law. The Depositary Bank may refrain from taking any action in any jurisdiction if, in its opinion, the taking of such action in that jurisdiction would be contrary to any law of that jurisdiction or of the State of New York, it would
otherwise render the Depositary Bank liable to any Person in that jurisdiction or the State of New York, the taking of such action would require the Depositary Bank to obtain any license or otherwise qualify to do business or subject it to taxation
in such jurisdiction, the Depositary Bank would not have the power or authority to take such action in such jurisdiction by virtue of any law in that jurisdiction or in the State of New York, or it is determined by any court or other competent
authority in that jurisdiction or in the State of New York that the Depositary Bank does not have such power or authority. Neither the Depositary Bank nor any of its Affiliates shall be responsible to any First Lien Secured Party for any recitals,
statements, representations or warranties made by any Credit Party contained in this Agreement or any other Secured Credit Document or in any certificate or other document referred to or provided for in, or received by it or any First Lien Secured
Party under, this Agreement or any other Secured Credit Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other document referred to or provided for herein or therein or for any
failure by any Credit Party to perform its obligations hereunder or thereunder or for the perfection or priority of any Lien on the Collateral (including the Account Collateral). The Depositary Bank shall not be required to ascertain or inquire as
to (i) the performance by any Credit Party of any of its obligations or covenants or other terms and conditions under this Agreement or any other Secured Credit Document or any other document or agreement contemplated hereby or thereby or
(ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith. The Depositary Bank shall have no liability for failing to perform any act or obligation required under
this Agreement due to the occurrence of any event beyond its control, including, without limitation, any provision of any future law or regulation or any future act of any governmental authority, any act of God, wars and other military

  
 35 

 
disturbances, terrorism, earthquakes, fire, flood, sabotage, epidemics, riots, interruptions, loss or malfunctions of utilities, computer (hardware or software) or communication services,
accidents, labor disputes, acts of civil or military authority and governmental action, or the unavailability of the Federal Reserve Wire systems or any communication facility. The Depositary Bank shall not (a) be required to initiate or
conduct any litigation or collection proceeding hereunder or under any other Secured Credit Document or (b) be responsible for any action taken or omitted to be taken by it hereunder (except for its own gross negligence or willful misconduct,
as determined by a final judgment of a court of competent jurisdiction) or in connection with any other Secured Credit Document. Except as otherwise provided under this Agreement, the Depositary Bank shall take action under this Agreement only as it
shall be directed in writing by the Collateral Agent or, subject to Section 2.6(i), the Borrower. The Depositary Bank shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it by this Agreement. Whenever in the administration of this Agreement the Depositary Bank shall deem it necessary or desirable that a factual matter be proved or established in
connection with the Depositary Bank taking, suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof is herein specifically prescribed) may be deemed to be conclusively proved or established by a
certificate of an Authorized Officer of the Borrower, the Credit Agreement Administrative Agent or the Collateral Agent. The Depositary Bank shall have the right, at the expense of the Borrower, which expense may be set off against amounts on
deposit in the Accounts pursuant to Section 2.4, at any time to seek instructions concerning the administration of this Agreement from the Collateral Agent or any court of competent jurisdiction and shall be fully protected in relying on
such instructions. The Depositary Bank shall have no obligation to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder. The Depositary Bank shall not be charged with knowledge of
any Triggering Event unless the Depositary Bank has received a Trigger Notice. The Depositary Bank shall have no obligation to request the deposit of any funds referenced herein into the Accounts. The Depositary Bank shall have no obligation to
monitor compliance by any Credit Party with any requirements of, or obligations under, any Secured Credit Document (including this Agreement). The Depositary Bank shall have no duty to calculate any amounts to be distributed under the terms of this
Agreement and shall have no liability for the accuracy of any such calculations provided to it or compliance with any terms of any Secured Credit Document. All instructions, directions, entitlement orders, certificates and notices provided to the
Depositary Bank hereunder shall be in writing and signed by an Authorized Officer of the party executing such instruction, entitlement order, direction, certificate or notice. All amounts deposited hereunder shall include an instruction as to the
Account to which such amounts shall be credited. Absent such instruction, the Depositary Bank will credit such amounts to the Revenue Account. All instructions received by the Depositary Bank, including certificates, which require the distribution
of funds, other than to another Account, shall contain wire instructions for such distributions and if no such instructions are included, the Depositary Bank shall have no obligation to distribute (and no liability for its failure to distribute) the
amounts requested to be distributed to such party until proper wire instructions are received. The rights, privileges, protections, immunities and benefits given to the Depositary Bank, including, without limitation, its right to be indemnified, are
extended to, and shall be enforceable by, the Depositary Bank in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. The Depositary Bank may request

  
 36 

 
that the Borrower and any First Lien Secured Party deliver a certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions
pursuant to this Agreement, which certificate may be signed by any person authorized to sign such a certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded. The permissive right of
the Depositary Bank to take or refrain from taking action hereunder shall not be construed as a duty. 
 SECTION 4.2. Reliance by
Depositary Bank. The Depositary Bank shall be entitled to conclusively rely upon and shall not be bound to make any investigation into the facts or matters stated in any certificate, or any other notice or other document (including any cable,
email, facsimile, telegram, telecopy or telex) believed by it to be genuine and to have been signed or sent by or on behalf of the proper Person or Persons, and upon advice or statement of legal counsel, independent accountants and other experts
(who may be consulted at the reasonable expense of the Borrower in connection with the performance of Depositary Bank’s obligations under this Agreement) selected by the Depositary Bank and shall have no liability for its actions taken
thereupon, unless due to the Depositary Bank’s willful misconduct or gross negligence as determined by a final judgment of a court of competent jurisdiction. Without limiting the foregoing, the Depositary Bank shall be required to make payments
to or at the direction of the Collateral Agent or, subject to Section 2.6(i), the Borrower only as set forth herein. The Depositary Bank shall be fully justified in failing or refusing to take any action under this Agreement (i) if
such action would, in the reasonable opinion of the Depositary Bank, be contrary to applicable law or the terms of this Agreement, (ii) if such action is not specifically provided for in this Agreement, it shall not have received any such
advice or concurrence of the Collateral Agent or the Credit Agreement Administrative Agent as it deems appropriate or (iii) if the taking of any such action could expose it to potential liability (whether such action is or is intended to be an
action of the Depositary Bank, the Borrower or the Collateral Agent), it shall not first be indemnified to its satisfaction by the Borrower or by the Collateral Agent or by any First Lien Secured Parties, against any and all liability and expense
which may be incurred by it by reason of taking or continuing to take any such action. The Depositary Bank shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the
Collateral Agent or the Credit Agreement Administrative Agent or, subject to Section 2.6(i), the Borrower, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the First Lien Secured Parties.
Upon request by the Depositary Bank, the Collateral Agent agrees to provide to the extent available, or to request from the First Lien Secured Parties, (i) notice of the amount of outstanding First Lien Obligations owed by any Credit Party to
any First Lien Secured Party under the Secured Credit Documents and (ii) any other information that the Depositary Bank may reasonably request in connection with the performance of its responsibilities hereunder. The Depositary Bank may obtain
confirmation of any transfer or withdrawal instruction or entitlement order by telephone call-back to the person or persons designated for verifying such requests (such person verifying the request shall be different than the person initiating the
request). 
 SECTION 4.3. Court Orders. The Depositary Bank is hereby authorized, in its reasonable discretion, to obey and comply
with all writs, orders, judgments or decrees issued by any court or administrative agency affecting any money, documents or things held by the Depositary Bank. The Depositary Bank shall not be liable to any of the parties hereto or any other First
Lien Secured Party, their successors, heirs, personal representatives, affiliates or any other Person by reason of the Depositary Bank’s compliance with such writs, orders, judgments or decrees, notwithstanding that such writ, order, judgment
or decree is later reversed, modified, set aside or vacated. 

  
 37 

 SECTION 4.4. Resignation or Removal. Subject to the appointment and acceptance of a
successor Depositary Bank as provided below, the Depositary Bank may resign at any time by giving thirty (30) days’ written notice thereof to the Collateral Agent and the Borrower. The Depositary Bank may be removed at any time with cause
by the Collateral Agent. The Borrower shall have the right to remove the Depositary Bank upon thirty (30) days’ notice to the First Lien Secured Parties with or without cause, effective upon the appointment of a successor Depositary Bank
under this Section 4.4, which is reasonably acceptable to the Collateral Agent. In the event that the Depositary Bank shall decline to take any action without first receiving adequate indemnity from the Borrower, the First Lien Secured
Parties or the Collateral Agent, as the case may be, and, having received an indemnity reasonably satisfactory to it, shall continue to decline to take such action, the Collateral Agent shall be deemed to have sufficient cause to remove the
Depositary Bank. Upon any such resignation or removal, the Collateral Agent shall have the right to appoint a successor Depositary Bank, which Depositary Bank shall be reasonably acceptable to the Borrower. Resignation or removal of the Depositary
Bank shall become effective upon a successor depositary bank having accepted its appointment. If no successor Depositary Bank shall have been appointed by the Collateral Agent and shall have accepted such appointment within thirty (30) days
after the retiring Depositary Bank’s giving of notice of resignation or the removal of the retiring Depositary Bank, then (i) the retiring Depositary Bank may petition a court of competent jurisdiction for the appointment of a successor
Depositary Bank or (ii) the retiring Depositary Bank may appoint a successor Depositary Bank, which shall be a bank or trust company reasonably acceptable to the Collateral Agent and the Borrower. Upon the acceptance of any appointment as
Depositary Bank hereunder by the successor Depositary Bank, (a) such successor Depositary Bank shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Depositary Bank, and the retiring
Depositary Bank shall be discharged from any further duties and obligations hereunder and (b) the retiring Depositary Bank shall, subject to payment of all fees and expenses of Depositary Bank outstanding, promptly transfer all Accounts within
its possession or control to the possession or control of the successor Depositary Bank and shall execute and deliver such notices, instructions and assignments as may be necessary or desirable to transfer the rights of the Depositary Bank with
respect to the Accounts to the successor Depositary Bank. After the retiring Depositary Bank’s resignation or removal hereunder as Depositary Bank, the provisions of this Article IV and of Article V shall continue in effect for its
benefit in respect of any actions taken or omitted to be taken by it while it was acting as the Depositary Bank. 
 SECTION 4.5.
Collateral Agent. The Collateral Agent will inform the Depositary Bank of (i) the Discharge of First Lien Obligations or (ii) provided that the Collateral Agent has received a certification by the Borrower that no other Secured
Credit Document requires the maintenance of the accounts contemplated by this Agreement, the Discharge of Credit Agreement Obligations, in each case, promptly upon the Collateral Agent having been duly informed of the occurrence thereof. In the
event the Depositary Bank shall have been informed by the Collateral Agent stating that the Discharge of First Lien Obligations or the Discharge of Credit Agreement Obligations has occurred, all amounts remaining in the Accounts shall be remitted to
the Borrower or as otherwise directed in writing by the Borrower. 

  
 38 

 SECTION 4.6. Representations of Depositary Bank. The Depositary Bank hereby represents and
warrants as of the date hereof to the Collateral Agent, the Borrower and the Subsidiary Guarantors that: 
 (a) it is a national banking
association duly organized and validly existing in good standing under the laws of its jurisdiction of organization and is duly qualified to conduct banking business in the State of New York; 

(b) it has full power, authority and legal right to conduct its business and operations as currently conducted and to enter into and perform
its obligations under this Agreement; 
 (c) the execution, delivery and performance of this Agreement have been duly authorized by all
necessary corporate action on the part of it and do not require any stockholder approval, or approval or consent of any trustee or holder of any indebtedness or obligations of it, other than those that have been obtained, and such document has been
duly executed and delivered by it and constitutes its legal, valid and binding obligations enforceable against it in accordance with the terms hereof; 

(d) no authorization, consent or approval of, or other action by, and no notice to or filing with, any Governmental Authority or
self-regulatory body is required for the execution, delivery or performance by it of this Agreement other than those that have been obtained or made; and 

(e) to the best of its knowledge, neither the execution, delivery or performance by it of this Agreement, nor compliance with the terms and
provisions hereof, conflicts or will conflict with or results or will result in, a breach or violation of any of the terms, conditions or provisions of, in any material respect, any applicable law. 

ARTICLE V 
 EXPENSES;
INDEMNIFICATION; FEES 
 SECTION 5.1. Expenses. The Borrower agrees to pay or reimburse all reasonable out-of-pocket expenses
of the Depositary Bank (including reasonable fees and expenses for legal services) in respect of, or incident to, the execution, administration or enforcement of any of the provisions of this Agreement or in connection with any amendment, waiver or
consent relating to this Agreement. The obligations contained in this Section 5.1 shall survive the termination of this Agreement or the resignation or removal of the Depositary Bank. 

SECTION 5.2. Indemnification. The Borrower agrees to indemnify and hold harmless the Depositary Bank in its capacity as such, and, in
their capacity as such, its officers, directors, shareholders, controlling persons, employees, agents and servants (each an “Indemnified Depositary Bank Party”), from and against any and all claims, losses, actions, liabilities,
costs, damages and expenses (including the reasonable fees and expenses of counsel) 

  
 39 

 
arising out of or resulting from this Agreement (including, without limitation, performance under or enforcement of this Agreement, but excluding any such claims, losses or liabilities resulting
from an Indemnified Depositary Bank Party’s gross negligence or willful misconduct, as determined by a final judgment of a court of competent jurisdiction). 

SECTION 5.3. Fees. On the Closing Date, and on each anniversary of the Closing Date during the term of this Agreement, the Borrower
shall pay the Depositary Bank an upfront annual, non-refundable fee in an amount mutually agreed in writing by the Borrower and the Depositary Bank. 

SECTION 5.4. Taxes. It is acknowledged by the parties hereto that all interest and other investment income earned on amounts on deposit
in the Accounts for Federal, state and local income tax purposes shall be attributed to the Borrower. The Borrower shall be responsible for determining any requirements for paying taxes or reporting or withholding any payments for tax purposes
hereunder. The Borrower shall prepare and file all tax information required with respect to the Accounts and the Account Property (including providing the Depositary Bank with any applicable required tax withholding information). The Borrower agrees
to indemnify and hold the Depositary Bank, the Collateral Agent and the First Lien Secured Parties harmless against all liability for tax withholding and/or reporting for any payments. Such indemnities shall survive the termination or discharge of
this Agreement or resignation or removal of either the Depositary Bank or the Collateral Agent. Neither the Depositary Bank nor the Collateral Agent shall have any obligation with respect to the making of or the reporting of any payments for tax
purposes. 
 ARTICLE VI 

MISCELLANEOUS 

SECTION 6.1. Amendments; Etc. No amendment or waiver of any provision of this Agreement nor consent to any departure by the Borrower
herefrom shall in any event be effective unless the same shall be in writing, executed by the Depositary Bank and the Collateral Agent, and otherwise in accordance with the Intercreditor Agreement. Any such amendment, waiver or consent shall be
effective only in the specific instance and for the specified purpose for which given. 
 SECTION 6.2. Addresses for Notices. All
notices and other communications provided hereunder shall be in writing and addressed, delivered or transmitted, if to the Borrower, the Depositary Bank or the Collateral Agent, at its address or facsimile number set forth below or at such other
address or facsimile number as may be designated by any such party in a notice to the other parties. Subject to Section 2.7(a), any notice, if mailed and properly addressed with postage prepaid or if properly addressed and sent by
pre-paid courier service, shall be deemed given when received; any notice, if transmitted by facsimile, shall be deemed given when the confirmation of transmission thereof is received by the transmitter, provided that no notice, request or demand to
the Depositary Bank shall be deemed duly given or made until actually received by the Depositary Bank or, if given or made by facsimile, until the Depositary Bank shall have given written or telephonic confirmation of its receipt thereof. Internet
and intranet websites may, at the discretion of the Collateral Agent, be used to distribute routine communications, to distribute the Agreement for execution by the parties thereto and distribute the executed Agreement and may not be used for any
other purpose including, without limitation, delivery of notices, instructions or certificates hereunder. 

  
 40 

			
	If to a Credit Party:	  	700 Milam, Suite 1900
		  	Houston, Texas 77002
		  	Attention: Treasurer
		  	Tel: (713) 375-5637
		  	Fax.: (713) 375-6000
		  	
		  	With a copy (which shall not constitute notice) to:
		  	
		  	700 Milam, Suite 1900
		  	Houston, Texas 77002
		  	Attention: Legal Department
		  	Tel: (713) 375-5000
		  	Fax.: (713) 375-6000
		  	
	If to the Collateral Agent:	  	MUFG Union Bank, N.A.
		  	1251 Avenue of the Americas, 19th Floor
		  	New York, NY 10020
		  	Attn: Fernando Moreyra
		  	Email: fernando.moreyra@unionbank.com
		  	
		  	Copy to: AccountAdministration-Corporate.Trust@unionbank.com
		  	Tel: (646) 452-2015
		  	Fax: (646) 452-2000
		  	
	If to the Depositary Bank:	  	MUFG Union Bank, N.A.
		  	1251 Avenue of the Americas, 19th Floor
		  	New York, NY 10020
		  	Attention: Corporate Trust Dept. – Cash Control
		  	Telephone: (646) 452-2114
		  	Fax: (646) 452-2000
		  	E-mail address: ctny1@unionbank.com

 SECTION 6.3. APPLICABLE LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
(INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) 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 THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION. (i) FOR PURPOSES OF THE UCC, NEW YORK SHALL BE THE JURISDICTION
OF THE DEPOSITARY BANK FOR PURPOSES OF SECTIONS 8-110 AND, IF APPLICABLE, 9-304 AND 9-305 OF THE UCC AND (ii) THE ACCOUNTS SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

  
 41 

 SECTION 6.4. SUBMISSION TO JURISDICTION; WAIVERS. 

(a) SUBJECT TO CLAUSE (E) OF THE FOLLOWING SENTENCE, ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY PARTY ARISING OUT OF OR RELATING
HERETO OR ANY OTHER SECURED CREDIT DOCUMENTS, OR ANY OF THE FIRST LIEN OBLIGATIONS, SHALL BE BROUGHT IN ANY FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT HAVE SUBJECT MATTER
JURISDICTION, IN ANY STATE COURT LOCATED IN THE CITY AND COUNTY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH CREDIT PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY (A) ACCEPTS GENERALLY AND UNCONDITIONALLY
THE EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS (OTHER THAN WITH RESPECT TO ACTIONS BY ANY AGENT IN RESPECT OF RIGHTS UNDER ANY SECURITY AGREEMENT GOVERNED BY A LAWS OTHER THAN THE LAWS OF THE STATE OF NEW YORK OR WITH RESPECT TO ANY COLLATERAL
SUBJECT THERETO); (B) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (C) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO BORROWER AT ITS
ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 6.2; (D) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (C) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER BORROWER IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES
EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (E) AGREES THAT AGENTS RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST BORROWER IN THE COURTS OF ANY OTHER JURISDICTION IN CONNECTION
WITH THE EXERCISE OF ANY RIGHTS UNDER ANY SECURITY DOCUMENT OR THE ENFORCEMENT OF ANY JUDGMENT. BORROWER, FOR ITSELF AND ITS AFFILIATES, AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 
 (b) EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS
RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER CREDIT DOCUMENTS OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER
RELATIONSHIP THAT IS BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT
CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL 

  
 42 

 
INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED
FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS
IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 6.4 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER SECURED CREDIT DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE EXTENSIONS OF CREDIT MADE PURSUANT TO THE FIRST LIEN SECURED DEBT INSTRUMENTS. IN THE
EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
 SECTION 6.5. Headings. Headings
used in this Agreement are for convenience of reference only and shall not affect the meaning or interpretation of any provisions of this Agreement. 

SECTION 6.6. No Third-Party Beneficiaries. The agreements of the parties hereto are solely for the benefit of the Borrower, the other
Credit Parties, the Collateral Agent, the Depositary Bank and the First Lien Secured Parties and their respective successors and assigns and no Person (other than the parties hereto and such First Lien Secured Parties) shall have any rights
hereunder. 
 SECTION 6.7. No Waiver. No failure on the part of the Depositary Bank, the Collateral Agent or any First Lien Secured
Party or any of their nominees or representatives to exercise, and no course of dealing with respect to, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise by
the Depositary Bank, the Collateral Agent or any First Lien Secured Party or any of their nominees or representatives of any right, power or remedy. 

SECTION 6.8. Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
provision and such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other
jurisdiction. 
 SECTION 6.9. Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the
parties hereto and their respective successors and assigns; provided, however, that the Borrower may not assign or transfer its rights or obligations hereunder without the consent of all of the First Lien Secured Parties and any
assignment in violation of such restriction shall be null and void. Any Person into which the Depositary Bank may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to
which the Depositary Bank shall be a party, or any Person succeeding to all or substantially all of the corporate agency or corporate trust business of the Depositary Bank shall be the successor of the Depositary Bank hereunder, without the
execution or filing of any paper or any further act on the part of any of the parties hereto. 

  
 43 

 SECTION 6.10. Execution in Counterparts, Effectiveness. This Agreement may be executed in
any number of counterparts, each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. This Agreement shall become effective with respect to the Borrower,
the Subsidiary Guarantors, the Depositary Bank and the Collateral Agent when counterparts hereof executed by such parties (or notice thereof satisfactory to the Collateral Agent) shall have been received by the Collateral Agent. 

SECTION 6.11. Consequential Damages. In no event shall any of the parties hereto be liable for special, punitive, indirect or
consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if such party has been advised of the likelihood of such loss or damage and regardless of the form of action. 

SECTION 6.12. Termination Date. This Agreement and the obligations of the Credit Parties hereunder shall terminate upon delivery to the
Depositary Bank and the Collateral Agent of notice of the earlier to occur of (a) the Discharge of First Lien Obligations in accordance with the terms hereof or (b) the (i) Discharge of Credit Agreement Obligations in accordance with
the terms hereof and (ii) certification by the Borrower that no other Secured Credit Document requires the maintenance of the accounts contemplated by this Agreement. 

SECTION 6.13. Additional Subsidiary Guarantors. The Borrower agrees that, if any Subsidiary of Borrower shall become a Subsidiary
Guarantor after the Effective Date, it will promptly cause such Subsidiary to become party hereto by executing and delivering an instrument in the form of Exhibit A. Upon such execution and delivery, such Subsidiary will become a Subsidiary
Guarantor hereunder with the same force and effect as if originally named as a Subsidiary Guarantor herein. The execution and delivery of such instrument shall not require the consent of any other party hereunder, and will be acknowledged by the
Collateral Agent. The rights and obligations of each Subsidiary Guarantor hereunder shall remain in full force and effect notwithstanding the addition of any new Subsidiary Guarantor as a party to this Agreement. 

[Signature Pages Follow] 

  
 44 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the
day and year first above written. 
  

			
	 CHENIERE ENERGY INVESTMENTS, L.P.,

as Borrower:
  

By: Cheniere Energy Partners GP, LLC,

its general partner

		
	By:	 	/s/ Lisa C. Cohen
		 	Name: Lisa C. Cohen
		 	Title: Vice President and Treasurer

  

SIGNATURE PAGE TO DEPOSITARY AGREEMENT 

 
			
	 MUFG UNION BANK, N.A.,
 as
Collateral Agent

		
	By:	 	/s/ Fernando Moreyra
		 	Name: Fernando Moreyra
		 	Title: Vice President

  

SIGNATURE PAGE TO DEPOSITARY AGREEMENT 

 
			
	 MUFG UNION BANK, N.A.,
 as
Depositary Bank

		
	By:	 	/s/ Fernando Moreyra
		 	Name: Fernando Moreyra
		 	Title: Vice President

  

SIGNATURE PAGE TO DEPOSITARY AGREEMENTExhibit

Exhibit 10.1

SEPARATION AGREEMENT
This Separation Agreement (the “Agreement”) is made as of this 1st day of March, 2016 by and between TiVo, Inc., a Delaware corporation (“Company”), and Jeffrey Klugman, an individual (“Executive”).  The terms “Party” or “Parties” shall be used to refer to the Company and/or Executive.  
WHEREAS, Executive served as Executive Vice President, General Manager of Products and Revenue (“EVP”); and
WHEREAS, Executive’s employment as EVP terminated, effective as of the Separation Date (as defined below), and Executive shall assist in the transition of his duties as EVP during the Transition Period (as defined below).
NOW, THEREFORE, for and in consideration of the promises and the consideration more fully set forth herein, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Company and Executive mutually agree as follows:
		
	1.
	Separation From Employment; Separation Date.  The Company and Executive acknowledge and agree that, effective as of the Separation Date (as defined in this Section 1), Executive’s employment as EVP by the Company and/or any subsidiary or affiliate controlled by the Company (collectively, the “Affiliates”) shall terminate.  Executive further acknowledges and agrees that he shall no longer be an employee, officer , or director of the Company or any of its Affiliates after the Separation Date or any such earlier date if Executive resigns or the Company terminates Executive’s employment before the Separation Date.  The “Separation Date” shall be defined as March 1, 2016.

2.Transition Period.  Executive further acknowledges and agrees that, from the Separation Date until February 28, 2017 (the “Transition Period”), Executive shall be available, by phone, to the Company on an as-needed basis, for no more than five hours per month, to assist the Company with the transition of Executive’s duties, but otherwise will no longer provide services to the Company as an employee or officer of the Company or in any other capacity.
3.Separation Payments and Benefits.  Executive shall be paid his fully earned but unpaid base salary payment(s) due as of the Separation Date, if any, when due, at the rate in effect at the time of this Agreement, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company in effect at the time such payments are due (including, without limitation, all accrued and unused vacation, of which Executive has no accrued and unused vacation).  Executive shall also be entitled to keep his current laptop computer, which is an Apple MacBook Air (13-inch, Early 2014) Serial Number: C02P25MUG5RP, originally provided to Executive by the Company for his use in connection with his performance of services to the Company as an Employee and officer of the Company, subject to the Company’s information technology department first certifying the removal of all proprietary and confidential information of the Company from such laptop, including the removal of any proprietary software programs licensed by the Company.
(a)Provided that Executive executes and does not timely revoke the release of claims attached hereto as Exhibit 1 (such release, the “General Release”) in accordance with Section 12 of this Agreement following the Separation Date and, provided, further, that Executive complies with Section 2 of this Agreement, then, subject to the Company’s standard payment procedures and schedules, except as 

otherwise noted below, Executive shall receive the following compensation and benefits (the “Separation Benefits”) during the Transition Period: 
		
	(i)
	A lump sum one-time payment of one year of Executive’s base salary in effect as of the date of this Agreement, paid upon the business day immediately following the effective date of the General Release;

		
	(ii)
	Reimbursement of premiums for COBRA-eligible continued health and welfare coverage equivalent to such benefits in effect prior to the Separation Date (coverage for Executive’s existing medical, dental and vision insurance will continue only through March 31, 2016 and all other benefits will terminate as of the Separation Date);

		
	(iii)
	Continued vesting and/or exercisability of all time-based vesting stock awards, as listed on Schedule 1, outstanding on the date hereof in accordance with the Company’s regular vesting schedule through April 1, 2016; 

		
	(iv)
	Continued exercisability of all vested stock option awards for 90 days after Separation Date, as listed on Schedule 1;

		
	(v)
	Accelerated vesting of Executive’s time-based vesting stock award as of April 1, 2016 that will vest in April 2017 as listed on Schedule 1 attached hereto; and

		
	(vi)
	100% of Executive’s actual performance achievement, as determined by the Company’s Compensation Committee, for Executive’s fiscal year 2016 bonus, payable when bonuses for such fiscal year are paid to the Company’s executives generally.

For the avoidance of doubt, Executive shall not be entitled to: (A) any of the Separation Benefits provided for in this Section 3(a) if Executive resigns from his employment with the Company for any reason before the Separation Date, (B) any COBRA payments or benefits described in Section 3(a)(ii) of this Agreement in the event that Executive receives health and welfare coverage from another employer during the Transition Period, (C) any payments, benefits or accelerated vesting under Executive’s Change of Control Agreement, dated January 19, 2010 (the “CIC Agreement”) or (D) any portion of Executive’s fiscal year 2017 bonus. 
		
	4.
	Taxes.  Any amounts to be paid to Executive pursuant to this Agreement shall be considered wages, and the Company will withhold and deduct all applicable federal, state and local taxes required by law.

5.Non-Disparagement.  Executive agrees that he will not disparage the Company, its Affiliates or its or their current or former officers, directors, and employees in any way, including, but not limited to, any oral or written communication directed to any person or entity, including, but not limited to, competitors, customers, or clients of the Company.  In addition, Executive will not make or solicit any comments, statements, or the like to the media or to others, or in any electronic forum, that may be considered derogatory or detrimental to the good name or business reputation of any of the aforementioned entities or individuals.  During the Transition Period following the Separation Date, the Company agrees that it shall not, and it shall direct each director of the Company and executive officer of the Company not to, make any public statement that is intended to or could reasonably be expected to disparage Executive.  Notwithstanding the foregoing, nothing in this Section shall prevent either Party from (i) responding publicly to any incorrect, disparaging or derogatory public statement to the extent reasonably necessary to correct or refute such public statement, (ii) making any truthful statement to the extent (x) necessary with respect to any litigation, arbitration or mediation involving this Agreement, including, but not limited to, the enforcement of this Agreement or (y) required by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with actual or apparent jurisdiction to order such Party to disclose or make accessible such information or (iii) making internal statements in the ordinary course of discharging such Party’s duties or responsibilities for the Company and its Affiliates.  

Furthermore, nothing herein shall restrict the Company from issuing a Form 8-K or other public disclosure regarding this Agreement as the Company deems necessary and in compliance with its obligations as a publicly listed company on a U.S. stock exchange; provided, however, the Company shall use its commercially reasonable efforts to provide Executive with a copy of any Form 8-K the Company intends to file with the Securities and Exchange Commission regarding this Agreement the day before such Form 8-K is filed by the Company and the Company shall give reasonable consideration to any feedback Executive shall provide the Company with respect to the content of such Form 8-K.
6.Non-Solicitation of Employees.  During the Transition Period, Executive shall not, directly or indirectly, on Executive’s own behalf or on behalf of any business, group, entity, person, governmental unit or other party, disrupt, damage, impair or interfere with the Company’s business by soliciting, encouraging, influencing, recruiting, attempting to recruit or raiding the employees of the Company or otherwise inducing termination of employment of any employee of the Company. 
7.Reasonable Attorney’s Fees.  The Company shall reimburse Executive for reasonable attorney’s fees incurred by Executive in connection with the negotiation of this Agreement, not to exceed $5,000. 
8.No Additional Obligations.  The Company shall not be obligated to pay any other sums to Executive or to provide any other benefits to Executive after the date of this Agreement, except as otherwise specifically set forth in this Agreement.  
9.Full Consideration.  The Parties acknowledge that good and valuable consideration supports this Agreement.  
10.Cooperation.  Executive agrees that he shall continue to reasonably cooperate with the Company concerning reasonable requests for information about the business of the Company or any of its Affiliates or Executive’s involvement and participation therein; the defense, prosecution, or investigation of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company or its Affiliates which relate to any existing or future patent litigation involving the Company and/or to events or occurrences that transpired while Executive was employed by any the Company; and in connection with any audit, investigation or review by any federal, state, or local regulatory, quasi-regulatory, or self-governing authority, or any internal investigation, relating to such events or occurrences.  Executive’s cooperation shall include, but not be limited to, being reasonably available to meet and speak with officers and employees of the Company and/or its counsel at reasonable times and locations, executing accurate and truthful documents including declarations, testifying in connection with any and all legal proceedings at the request of the Company and without the need for a subpoena, and taking such other actions as may reasonably be requested by the Company and/or its counsel to effectuate the foregoing.  The Company will reimburse Executive for all reasonable and documented out-of-pocket expenses, including travel, hotel, and meal or similar expenses, incurred in accordance with policies applicable to senior executives of the Company in connection with providing his cooperation under this Section 10. 
11.Section 409A of the Internal Revenue Code.  Notwithstanding any provision to the contrary in this Agreement, no payment or distribution under this Agreement that constitutes an item of deferred compensation under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and becomes payable by reason of Executive’s Separation of employment with each Employer will be made to Executive unless Executive’s Separation of employment constitutes a “separation from service” (as the term is defined in Treasury Regulations issued under Section 409A of the Code).  For purposes of this Agreement, each amount to be paid or benefit to be provided shall be construed as a separate identified payment for purposes of Section 409A of the Code.  It is intended that this Agreement shall comply with the provisions of Section 409A of the Code and the Treasury Regulations relating thereto so as not to subject Executive to the payment of additional taxes and interest under Section 409A of the Code.  In furtherance of this intent, the Agreement shall be interpreted, operated, and administered, and payments hereunder reported, in a manner consistent with these intentions.  To the extent that any reimbursable expenses hereunder are deemed to constitute compensation to Executive, such expenses shall be paid or 

reimbursed promptly, but not later than by December 31 of the year following the year in which such expenses were incurred.  The amount of such expenses eligible for reimbursement in one calendar year shall not affect the amount of expenses eligible for reimbursement in any other calendar year, and Executive’s right to reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit.
12.General Release and Waiver. As a condition to the effectiveness of this Agreement, Executive shall execute and return the General Release on or before April 15, 2016 at 5 p.m. PST, but in no event earlier than the Separation Date.   
13.No Further Claims by Executive. Executive represents and covenants that he has not filed, initiated or caused to be filed or initiated, any claim, charge, suit, complaint, grievance, action or cause of action against the Company or any of the Company Releasees identified in Exhibit 1. The Parties acknowledge that this Agreement will not prevent Executive from filing a charge with the Equal Employment Opportunity Commission (or similar state agency) or participating in any investigation conducted by the Equal Employment Opportunity Commission (or similar state agency), provided, however, that Executive acknowledges and agrees that any claims by Executive, or brought on his behalf, for personal relief in connection with such a charge or investigation (such as reinstatement or monetary damages) would be and hereby are barred by the General Release.
14.No Assignment of Claims.  Executive represents and warrants that he has made no assignment or other transfer, and covenants that he will make no assignment or other transfer, of any interest in any claim which he may have against any of the Parties released herein.
15.Remedies in Event of Breach.  In the event of a breach by either Party of the terms of this Agreement, the other Party shall be entitled, if it shall so elect, to institute legal proceedings to obtain damages for any such breach, or to enforce the specific performance of the Agreement and to enjoin the breaching Party from any further violation of the Agreement and, subject to the first sentence of this Section 15, to exercise such remedies cumulatively or in conjunction with all other rights and remedies provided by law.  Each Party acknowledges, however, that the remedies at law for any breach of the provisions of the Agreement may be inadequate and that the non-breaching Party shall therefore be entitled to injunctive relief in the event of breach.  
16.No Admissions.  Neither this Agreement nor the furnishing of the consideration for this Agreement shall be deemed or construed as an admission of liability or wrongdoing on the part of Executive or the Company or any of the Company Releasees, nor shall be admissible as evidence in any proceeding other than for the enforcement of this Agreement.
17.Successors and Assigns.  This Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Parties to this Agreement, and each of them, including in the event of any Change of Control of the Company.
18.Choice of Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of California without regard to its conflicts of laws rules.
19.Severability.  If any provision of this Agreement shall be held invalid, void or unenforceable by a court of competent jurisdiction, the remaining provisions shall not be affected thereby and shall remain in full force and effect.  In the event that any covenant contained herein is not enforceable in accordance with its terms, Executive and the Company agree that such provision shall be reformed to make it enforceable in a manner that provides as nearly as possible the result intended by this Agreement.
20.Entire Agreement.  This Agreement, the General Release, the CIC Agreement (as to those provisions that survive its termination) and the terms of equity awards previously granted to Executive contain the entire agreement between Parties, and shall be considered and understood to be a contractual commitment and not a mere recital.  No covenants, agreements, representations, or warranties of any kind whatsoever, whether express or implied in law or fact, have been made by any Party to this Agreement, except as specifically set forth in this Agreement.  This Agreement, the terms of equity awards previously granted to Executive and the General Release supersede any and all prior and contemporaneous 

agreements, term sheets, negotiations and understandings, whether written or oral, pertaining to the subject matter hereof.
21.Modifications.  No modification, amendment, or waiver of any of the provisions contained in this Agreement, or any future representations, promise, or condition in connection with the subject matter of this Agreement, shall be binding upon any Party to this Agreement unless made in writing and signed by such Party or by a duly authorized officer or agent of such Party.  In the case of the Company, any such writing shall bind the Company only if approved by the Board.
22.Negotiated Agreement.  The terms of this Agreement are contractual, not a mere recital, and are the result of negotiations between the Parties.  This Agreement shall not be construed against the Party preparing the same.  This Agreement shall be construed without regard to the identity of the person who drafted such and shall be construed as if the Parties had jointly prepared this Agreement.  Any uncertainty or ambiguity shall not be interpreted against any one Party.
23.Section Headings.  The use of headings in this Agreement is only for ease of reference and the headings have no effect and are not considered in interpreting or to be part of the terms of this Agreement.
24.Voluntary Agreement.  EXECUTIVE ACKNOWLEDGES THAT HE HAS READ AND UNDERSTANDS THE FOREGOING PROVISIONS AND THOSE SUCH PROVISIONS ARE REASONABLE AND ENFORCEABLE.  EXECUTIVE FURTHER ACKNOWLEDGES THAT HE HAS SIGNED THIS AGREEMENT AS HIS OWN AND VOLUNTARY ACT, THAT HE ACKNOWLEDGES THAT THIS IS AN IMPORTANT AND BINDING LEGAL CONTRACT THAT HAS BEEN REVIEWED BY COUNSEL OF EXECUTIVE’S CHOICE, AND THAT THIS AGREEMENT HAS BEEN FREELY AND FAIRLY NEGOTIATED BY THE PARTIES HERETO.
25.Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, and such counterparts when taken together shall constitute but one instrument.
26.Notices.  All notices, requests and other communications to any Party under this Agreement shall be in writing and sent by personal delivery or overnight courier to the address provided below:
(a)If to the Company:
TiVo Inc.
2160 Gold Street
P.O. Box 2160
Alviso, California 95002-2160
Attention: Secretary
                
With a copy to:
Joseph M. Yaffe
Skadden, Arps, Slate, Meagher & Flom LLP
525 University Avenue
Palo Alto, California 94301
Email: joseph.yaffe@skadden.com
(b)If to Executive:
Jeffrey Klugman, at the most recent address on file with the Company or such other address as may be provided by Executive in accordance with this Section 26.
Notices will be deemed given (a) when personally delivered, or (b) on the first business day after deposit when sent by a recognized international overnight document delivery service.  Any party hereto may from time to time by notice in writing served as set forth above designate a different address or a different or additional person to which all such notices or communications thereafter are to be given.

		
	27.
	Termination; Survivability.  Executive may terminate this Agreement upon ten days' written notice to the Company.  The Company may only terminate this Agreement with the prior written consent of the Executive or as a result of Executive’s material breach of this Agreement.  In the event this Agreement is terminated pursuant to this Section 27, the General Release and the following provisions of this Agreement shall survive: 4, 5, 6, 8 and 10-27.

        
IN WITNESS WHEREOF, and intending to be legally bound hereby, the Parties hereby execute this Agreement as of the first date set forth below.  

JEFFREY KLUGMAN

DATED:  March 1, 2016    /s/ Jeffrey Klugman

TIVO INC.

DATED:  March 1, 2016    By:  /s/ Michelle Alvarado
Name: Michelle Alvarado 
Title:   Vice President, Human Resources

[Signature Page to Separation Agreement]

EXHIBIT 1
GENERAL RELEASE OF CLAIMS

This General Release of Claims (“Release”) is entered into as of this 1st day
of March, 2016, between Jeffrey Klugman (“Executive”), and TiVo Inc., a Delaware corporation (the “Company”) (collectively referred to herein as the “Parties”).

WHEREAS, pursuant to the Separation Agreement dated March 1, 2016 (the “Separation Agreement”), Executive’s employment as Executive Vice President, General Manager of Products and Revenue (“EVP”) of the Company terminated, effective upon the Separation Date (defined herein); and
WHEREAS, Executive shall assist on an as-needed basis in the transition of his duties as EVP (in accordance with Section 2 of the Separation Agreement and this Release).

NOW, THEREFORE, in consideration of, and subject to, the payments and benefits to be made available to Executive, the adequacy of which is hereby acknowledged by Executive, and which Executive acknowledges that he would not otherwise be entitled to receive, Executive and the Company hereby agree as follows:

		
	1.
	Separation From Employment; Separation Date.  As set forth in the Separation Agreement,  Executive’s employment as EVP shall terminate upon the “Separation Date,” which is defined as March 1, 2016. 

		
	2.
	Transition Period.  As set forth in the Separation Agreement, from the Separation Date until the one-year anniversary following the Separation Date (the “Transition Period”),  Executive shall be available, by phone, to the Company on an as-needed basis, for no more than five hours per month, to assist the Company with the transition of Executive’s duties, but otherwise will no longer provide services to the Company as an employee, officer, or director of the Company or any of its Affiliates in any other capacity.  

		
	3.
	Separation Payments and Benefits. If Executive does not execute this Release on or before April 15, 2016 at 5 p.m. PST, but in no event before the Separation Date, or revokes this Release before it becomes irrevocable, the Separation Agreement will be terminated and rendered null and void. For the avoidance of doubt, Executive shall not be entitled to: (A) any of the Separation Benefits provided for in Section 3(a) of the Separation Agreement if Executive resigns from his employment with the Company for any reason before the Separation Date, (B) any COBRA payments or benefits described in Section 3(a)(ii) of the Separation Agreement in the event that Executive receives health and welfare coverage from another employer during the Transition Period, (C) any payments, benefits or accelerated vesting under Executive’s Change of Control Agreement, dated January 19, 2010 (the “CIC Agreement”) or (D) any portion of Executive’s fiscal year 2017 bonus.

		
	4.
	General Release of Claims by Executive.

(a)    In consideration of the Company’s covenants in the Separation Agreement, and contingent upon the Company making the payments and providing the benefits set forth in Section 3(a) of the Separation Agreement, Executive, on behalf of himself and his executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Executive is or has been a participant by virtue of his employment with the Company (collectively, the “Company Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation, responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”), which Executive has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the date hereof or on or prior to the Separation Date, arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Executive’s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims under the Worker 

Adjustment and Retraining Notification Act of 1989, 29 U.S.C. § 2101 et seq., Title VII of the Civil Rights Act of 1964, as amended, 42 USC Section 2000, et seq.; the Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 USC Section 1981, et seq.; the Age Discrimination in Employment Act, as amended, 29 USC Section 621, et seq.; the Equal Pay Act, as amended, 29 USC Section 206(d); regulations of the Office of Federal Contract Compliance, 41 CFR Section 60, et seq.; the Family and Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; The Executive Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; the California Worker Adjustment and Retraining Notification Act,  California Labor Code Section 1400, et seq. and the California Fair Employment and Housing Act, California Government Code Section 12940, et seq.  

Notwithstanding the generality of the foregoing, Executive does not release the following claims:

(i)Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law;

(ii)Claims for worker’s compensation insurance benefits under the terms of any worker’s compensation insurance policy or fund of the Company;

(iii)Claims to continued participation in the Company’s group medical, dental, vision, and life insurance benefit plans pursuant to the terms and conditions of the federal law known as COBRA;

(iv)Claims for indemnity under the bylaws of the Company, as provided for by Delaware law or under any applicable insurance policy with respect to Executive’s liability as an employee or officer of the Company or that certain Indemnification Agreement dated  May 25, 2007 between Executive and the Company; and

(v)Claims based on any right Executive may have to enforce the Company’s executory obligations under the Separation Agreement or agreements related to stock awards granted to Executive by the Company.
(a)EXECUTIVE ACKNOWLEDGES THAT HE HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”
BEING AWARE OF SAID CODE SECTION, EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.

(b)Older Worker’s Benefit Protection Act. Executive agrees and expressly acknowledges that this Release includes a waiver and release of all claims which he has or may have under the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § 621, et seq. (“ADEA”). The following terms and conditions apply to and are part of the waiver and release of the ADEA claims under this Release:

(i)This paragraph and this Release are written in a manner calculated to be understood by him. Executive has carefully read and fully understands all of the provisions of this Release and the information set forth in Appendix A. Executive is entering into this Release knowingly, freely and voluntarily in exchange for good and valuable consideration.

(ii)The waiver and release of claims under the ADEA contained in this Release does not cover rights or claims that may arise after the date on which he signs this Release.

(iii)This Release provides for consideration in addition to anything of value to which he is already entitled.

(iv)Executive has been advised to consult an attorney before signing this Release.

(v)Executive has been granted forty-five (45) days after he was presented with this Release to consider whether or not to sign this Release. If he executes this Release prior to the expiration of such period, he does so voluntarily and after having had the opportunity to consult with an attorney, and hereby waives the remainder of the consideration period.

(vi)Executive has the right to revoke this Release within seven (7) days of signing this Release. In the event he does so, both this Release and the offer of benefits to him pursuant to the Separation Agreement will be null and void in their entirety, and he will not receive any severance payments or benefits under the Separation Agreement.

If he wishes to revoke this Release, Executive shall deliver written notice stating his intent to revoke this Release to the Chairman of the Compensation Committee of the Board, at the offices of the Company on or before 5:00 p.m. PST on the seventh (7th ) day after the date on which he signs this Release.

5.    No Assignment. Executive represents and warrants to the Company Releasees that there has been no assignment or other transfer of any interest in any Claim that Executive may have against the Company Releasees, or any of them. Executive agrees to indemnify and hold harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys’ fees incurred as a result of any such assignment or transfer from Executive; provided, however, that this sentence shall not apply with respect to a claim challenging the validity of this general release with respect to a claim under ADEA.

6.    Confidential Information; Return of Company Property. Executive certifies that he shall comply with Section 7(i) of the CIC Agreement. 

7.    Paragraph Headings. The headings of the several paragraphs in this Release are inserted solely for the convenience of the Parties and are not a part of and are not intended to govern, limit or aid in the construction of any term or provision hereof.

8.    Notices. All notices, requests and other communications hereunder shall be in writing and shall be delivered by courier or other means of personal service (including by means of a nationally recognized courier service or professional messenger service), or sent by telex or telecopy or mailed first class, postage prepaid, by certified mail, return receipt requested, in all
cases, addressed to:

If to the Company or the Board:
TiVo Inc.
2160 Gold Street
P.O. Box 2160
Alviso, California 95002-2160
Attention: Secretary

If to Executive:
Jeffrey Klugman, at the most recent address on file with the Company or such other address as may be provided by Executive in accordance with this Section 8.
All notices, requests and other communications shall be deemed given on the date of actual receipt or delivery as evidenced by written receipt, acknowledgement or other evidence of actual receipt or delivery to the address. In case of service by telecopy, a copy of such notice shall be personally delivered or sent by registered or certified mail, in the manner set forth above, within three business days thereafter. Any party hereto may from time to time by notice in writing served as set forth above designate a different address or a different or additional person to which all such notices or communications thereafter are to be given.

9.    Severability. The invalidity or unenforceability of any provision of this Release shall not affect the validity or enforceability of any other provision of this Release, which shall remain in full force and effect.

10.    Governing Law and Venue. This Release is to be governed by and construed in accordance with the laws of the State of California applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof. Any suit brought hereon shall be brought in the state or federal courts sitting in San Jose, California, the Parties hereby waiving any claim or defense that such forum is not convenient or proper. Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by California law.

11.    Counterparts. This Release may be executed in several counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

12.    Construction. The language in all parts of this Release shall in all cases be construed simply, according to its fair meaning, and not strictly for or against any of the Parties hereto. Without limitation, there shall be no presumption against any party on the ground that such party was responsible for drafting this Release or any part thereof.

13.    Entire Agreement. This Release, the Separation Agreement, the CIC Agreement (as to those provisions that survive its termination) and the terms of equity awards previously granted to Executive set forth the entire agreement of the Parties in respect of the subject matter contained herein and therein and supersede all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto, and any prior agreement of the Parties in respect of the subject matter contained herein.

14.    Amendment. No provision of this Release may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Executive and such officer of the Company as may be specifically designated by the Board.

15.    Understanding and Authority. The Parties understand and agree that all terms of this Release are contractual and are not a mere recital, and represent and warrant that they are competent to covenant and agree as herein provided. The Parties have carefully read this Release in its entirety; fully understand and agree to its terms and provisions; and intend and agree that it is final and binding on all Parties.

(Signature Page Follows)
IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed and re-executed the foregoing Release as of the dates written below.
EXECUTIVE                TIVO INC.
/s/ Jeffrey Klugman                /s/ Michelle Alvarado
Jeffrey Klugman                By:     Michelle Alvarado
                 Title:    Vice President, Human Resources
Date:    March 1, 2016            Date:     March 1, 2016
(On or after the Separation Date)

[Signature Page to General Release of Claims]

APPENDIX A

1.    The decisional unit is the Senior Vice Presidents and above.

2.     The Company has decided to terminate the employment of certain employees of the Company.  Employees whose employment is being terminated are eligible for certain severance benefits in consideration for signing a release.

3.    Such employees who elect severance benefits in consideration for signing a release have 45 calendar days to consider the terms of the release.  Once an employee signs the release, such employee has seven calendar days to revoke his or her consent to the release.

4.    The following is a listing of the ages and job titles of the above referenced decisional unit, indicating which employees were and were not selected for termination of employment from the Company and the offer of consideration for signing a release.

	
				
	Selected
	Age
	Job Title
	Eligible for Separation Benefits

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

Schedule 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00255-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00255-of-00352.parquet"}]]