Document:

Exhibit

Exhibit 10.1
CONFIDENTIALTREATMENT REQUESTED
CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE
BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

MEMORANDUM OF UNDERSTANDING

This binding Memorandum of Understanding (the “MOU”) is made effective as of December 1st, 2016 (the “Effective Date”) by and between Nutanix, Inc. with offices at 1740 Technology Drive, Suite 150, San Jose, California 95110 (“Nutanix”) and Flextronics Telecom Systems Limited, a corporation organized under the laws of Mauritius with offices at Level 3, Alexander House, 35 Cybercity, Ebene, Mauritius (“Flextronics”).

WHEREAS, Flextronics and Nutanix (each individually a “Party” and collectively the “Parties”) have entered into discussions to establish the terms and conditions for a business relationship between the Parties; and 

WHEREAS, the Parties have established April 15th, 2017 as the target date (“Target Date”) for execution of a definitive master services agreement (“MSA”) that will govern the terms and conditions of such a business relationship following essentially the terms stated in this MOU; and

WHEREAS, the Parties desire to enter into this MOU to (i) set forth the terms, conditions and parameters of that non-exclusive business relationship that shall apply until such time that the MSA is signed and (ii) to establish the parameters of the non-exclusive business relationship for the MSA; and

WHEREAS, the business relationship between Nutanix and Flextronics requires Flextronics to, among other things, (i) procure Components (defined in section 2f below), parts, and raw material, and/or (ii) manufacture, assemble, test, inspect, configure and ship certain mutually-agreed upon Nutanix products (including any prototypes and preproduction units of the Nutanix products) (collectively, the “Products”) at prices that the Parties have agreed to.   The procurement functions described in subsection (i) of this paragraph and the manufacturing and assembly functions described in subsection (ii) of this paragraph collectively shall be referred to as the “Services”.

THEREFORE, (i) the Parties shall work to implement an MSA under the following terms and (ii) until such time as an MSA has been executed, the following terms shall apply:    

		
	1.
	The Parties will work in good faith to finalize and execute an MSA by the target date listed above.

		
	2.
	Flextronics shall perform the Services for Nutanix starting as of the execution of this MOU. The performance of the Services shall be subject to the following provisions:

		
	a.
	Each month Nutanix shall provide to Flextronics an updated rolling forecast of its proposed purchases of Products for the next six (6) months.  Flextronics should use such forecasts to plan for the procurement of Components and the manufacture of the Products.  Except for Nutanix’ component inventory liability pursuant to section 2g below, such forecasts shall not be considered binding until Nutanix issues a purchase order for Products.  Should Flextronics procure more Components than are needed to meet the 6 month forecast, Nutanix shall have no liability for the Components that are the subject of such excess procurement, unless such excess purchases were agreed for in writing (email is sufficient), e.g.  in order to meet minimum order quantities, risk buys, etc.

		
	b.
	Nutanix shall issue purchase orders for Product(s) to Flextronics.  Flextronics will accept Nutanix purchase orders and provide a date of shipment of the Product(s) via electronic data interchange within two (2) hours.  For the purpose of clarity, Flextronics does not have the right to reject a purchase order that is consistent with this MOU (including the then current pricing), or within Nutanix’s credit limit.

		
	c.
	In acknowledging a purchase orders from Nutanix, Flextronics shall indicate the expected ship date for the Product.  Flextronics shall make commercially reasonable efforts to meet the following lead times:  for Products in which all the components are available in the supermarket, the lead time shall be delivery of the Product within [***] of receipt of the purchase order; and for orders which will be new builds, the lead time for delivery of the Product shall be within [***] of receipt of the purchase order. 

		
	d.
	The shipment and risk of loss for the distribution of the Products shall be [***].  Nutanix will provide Flextronics with any requested documentation and any necessary information, documentation or required assistance in order to determine the export license requirements for Nutanix products.   

		
	e.
	Nutanix may reschedule or cancel any purchase order up to the time of shipment. 

*** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

		
	f.
	Nutanix has provided Flextronics with a bill of materials (“BOM”) of third party components, raw materials, and parts (“Components”) to be included in the Products by Flextronics as part of the performance of the Services.  Flextronics has agreed to provide line item pricing on the costed BOMs related to the Products.  The fees charged by Flextronics to Nutanix for the Services performed for each Product shall be the [***].  The [***] shall be the Transformation Costs related to the Products (“Transformation Costs” are described further in Section 3 below).  All prices are in U.S. Dollars, and Nutanix shall make all payments in US Dollars within [***] of the date of the invoice.  If any [***].  If a Product has been shipped and it does not operate in conformance with the written specifications for the Product due to a breach of Flextronics’s warranty pursuant to Exhibit A (“DOA Product”), then Nutanix shall notify Flextronics of such DOA Product within [***] of the shipment date and Flextronics shall replace the DOA Product with a new Product.  In such a situation, Flextronics shall be responsible for all freight charges related to return of the DOA Product and the shipment of the new Product.

		
	g.
	Component Inventory.  

		
	i.
	Flextronics will manage availability of Components (inventory, SMI, CRP, etc.) sufficient to achieve [***] of the Nutanix monthly forecast.  In addition, with [***] notice that Nutanix intends to order sufficient Products, Flextronics shall manage availability of Components (inventory, SMI, CRP, etc.) sufficient to achieve [***] of the Nutanix monthly forecast.

		
	ii.
	For Component demand greater than forecasted by Nutanix, Flextronics will use commercially reasonable efforts to prioritize Nutanix’ Component demand.    

		
	iii.
	Nutanix agrees to purchase any Products (finished goods) and unique Nutanix work in process (“WIP”) that has been held by Flextronics for more than [***], or pay Flextronics to tear down such WIP and restock Components. 

		
	iv.
	Nutanix and Flextronics shall jointly agree in writing on all Nutanix unique Components and non-cancellable and non-returnable Components (collectively “Custom Components”).  For Custom Components that have been held by Flextronics for more than [***].  For any Custom Components that have been held by Flextronics between [***]. Nutanix will purchase any Custom Components held by Flextronics for more than [***]. Once a month, Nutanix and Flextronics will review the inventory report and determine inventory aging.  Flextronics shall obtain Nutanix’s written approval prior to purchasing any Custom Components that exceed the applicable monthly forecasts.   

		
	3.
	Certain exceptional items, including but not limited to expedited freight, will be agreed upon in advance and in writing and will be charged separately by Flextronics and paid by Nutanix.  The Parties have agreed that the [***] for the Transformation Costs shall be valid until [***] based on the forecasted sales by Flextronics to Nutanix beginning on [***] of a minimum of [***].  Transformation Costs include the following: 

[***]
		
	4.
	A revaluation process will be used in connection with quarterly pricing reviews between the Parties. The parties agree that material price will be reviewed and adjusted on a quarterly basis, and product quotes will be updated accordingly. For the term of this MOU, Component price changes will be identified and implemented as part of the revaluation process for Products. Any purchase order in backlog from Nutanix priced at the [***] pricing will be repriced to the new standard priced BOM plus the Transformation Costs described in this MOU.  Any adjustments to the cost of Components due to a revaluation process must be completed before purchase orders are revalued.  The Parties shall settle any price adjustment(s) at the beginning of the next Nutanix fiscal quarter as part of the revaluation process.   

		
	5.
	The Parties agree that time is of the essence in the performance of the Services.  In the event that a Flextronics committed order is delayed by more than [***] from the committed shipment date due to reasons solely within Flextronics’s control, which shall include delays caused by subcontractors or suppliers selected by Flextronics, (“Late Delivery”), Nutanix shall be allowed to cancel such order at Nutanix’s sole discretion. [***].  

		
	6.
	Non-Recurring Expenses (“NRE”):  Based on the current assumptions and based on information provided by Nutanix, the NREs for setting up the Nutanix business in Milpitas are as described below and Nutanix shall issue a purchase order for the amounts listed below [***] of the execution of this MOU:

		
	•
	For EDI setup: [***]; and

		
	•
	For Manufacturing Test Setup: [***].

For purposes of this MOU, the Product Warranty shall be as described in Exhibit A “Warranty”.   
		
	7.
	This MOU shall continue to be in effect until it is terminated by either Party or until the Parties execute the MSA.  The MOU may be terminated for any reason by either Party upon [***] written notice to the other Party. 

		
	8.
	Excluding payment obligations, neither Party shall be liable to the other Party if it is unable to perform its obligations for any cause beyond the reasonable control of the Party.  Each Party will bear its own expenses incurred in connection with this MOU and the proposed engagement between the Parties.

		
	9.
	The Parties will make commercially reasonable efforts to ensure that the time from execution of this MOU to first shipment of Products is approximately [***].

*** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

		
	10.
	FOR PURPOSES OF THIS MOU, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY INDIRECT, CONSEQUENTIAL, OR PUNITIVE DAMAGES INCLUDING, BUT NOT LIMITED TO LOST PROFITS, LOSS OF DATA, OR LOSS OF REVENUE ARISING OUT OF OR RELATING TO THIS MOU OR THE SALE OF PRODUCTS HEREUNDER, WHETHER SUCH LIABILITY IS ASSERTED ON THE BASIS OF CONTRACT, TORT (INCLUDING THE POSSIBILITY OF NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE, EVEN IF THE PARTY HAS BEEN WARNED OF THE POSSIBILITY OF ANY SUCH LOSS OR DAMAGE. IN ADDITION, IN NO EVENT SHALL EITHER PARTY’S LIABILITY FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THIS MOU EXCEED [***], EXCEPT FOR NUTANIX’S PAYMENT OBLIGATIONS FOR PRODUCT AND COMPONENTS HEREUNDER AND FLEXTRONICS’S WARRANTY OBLIGATIONS UNDER SECTION 1.1 c) OF EXHIBIT A.

		
	11.
	Neither Party may assign this MOU in whole or in part without the express written consent of the other Party except to each party’s respective affiliates. Such consent shall not be unreasonably withheld.  Any permitted assignment of this MOU shall be binding upon and enforceable by and against the Parties’ successors and assigns, provided that any unauthorized assignment shall be null and void and constitute a breach of this MOU.  This MOU shall be governed by and interpreted in accordance with the laws of the state of California.  Any dispute, claim or controversy arising from or related in any way to this MOU or the interpretation, application, breach, termination or validity thereof, will be submitted for resolution by binding arbitration in accordance with the Comprehensive Arbitration Rules & Procedures of JAMS.  The arbitration will be held in Santa Clara County, California and it shall be conducted in the English language.  Judgment on any award in arbitration may be entered in any court of competent jurisdiction.  Notwithstanding the above, each Party shall have the right to file in the Santa Clara, California state court or the federal courts in and for the Northern District of California an application for temporary or preliminary injunctive relief, writ of attachment, writ of possession, temporary protective order, and/or appointment of a receiver on the grounds that the arbitration award to which the applicant may be entitled may be rendered ineffectual in the absence of such relief.  IN THE EVENT OF ANY DISPUTE BETWEEN THE PARTIES, THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY AGREE THAT ANY AND ALL MATTERS SHALL BE DECIDED BY A JUDGE OR ARBITRATOR WITHOUT A JURY TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW. 

		
	12.
	New Product Introduction (“NPI”) cost structure:  Post go-live and from time to time, Nutanix may decide to develop and ask Flextronics to produce new products.  Flextronics would charge Nutanix for certain costs associated with the NPI including but not limited to the cost of acquisition for any required equipment or tooling needed in production, or for any certifications required to support the new product. The parties agree to a [***] Transformation Cost (as described in item #4 above) or [***] the transformation rate for manufacturing, to convert existing part numbers to new top level assemblies (“TLA”). This charge does not include Components which will be priced separately. The parties agree that the number of NPI’s would not exceed [***] TLAs per quarter and the number of NPI Products to be tested would be [***].

		
	13.
	 Engineering Change Orders (“ECO”) price structure: Flextronics will support up to [***] ECOs per month within the current transformation cost noted in sections 3 and 13. The parties agree that for any volume above the [***] ECO processing charge would be utilized for each 2 hours’ effort in processing these additional ECO’s. Any inventory impacts or assembly cost impacts would be priced separately on each ECO. 

		
	14.
	Refurbishment price structure: The Parties agree to [***] per unit for refurbishment of a Product.  This charge is to receive in, test, inspect and re-pack these Products.  Any replacement parts not under warranty, additional labor and/or packaging will be priced separately.  

 

IN WITNESS WHEREOF, the Parties hereto have duly executed this binding and enforceable MOU as of the date of the last written below.
		
	Nutanix Inc.
	Flextronics Telecom Systems Ltd.

By: ___________________________            By: _________________________
Name: _______________________            Name: ______________________
Title:   ________________________            Title: ________________________
Date: _________________________                 Date: ________________________

*** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Exhibit A -Warranty

		
	1.
	WARRANTY

1.Express Limited Warranty.  As the sole and exclusive warranty and Nutanix’s sole and exclusive remedy with respect to a breach by Flextronics of such warranty, the following shall apply.
(a)Flextronics warrants that the Products shall have been manufactured in accordance with the applicable Specifications and shall be free from defects in workmanship for a period of [***] from the date of shipment.  As used herein, “Specifications” means the written manufacturing/assembly specifications and instructions for the Products provided by Nutanix to Flextronics.  
(b)The above warranty does not apply to, and Flextronics makes no representations or warranties whatsoever with respect to any of: (i) Components (excluding “Production Materials” defined below) to the extent expressly set forth in the MOU or services provided by vendors on the Nutanix approved vendor list; (ii) defects resulting from adherence to the Specifications, or any instructions provided by or on behalf of Nutanix; (iii) the design of the Products; (iv) Product that has been abused, damaged, altered or misused or mishandled (including improper storage or installation or improper handling in accordance with static sensitive electronic device handling requirements) by any person or entity after title passes to Nutanix; (v) first articles, prototypes, pre-production units, test units or other similar units; (vi) defects resulting from tooling, designs or instructions produced or supplied by Nutanix, including any defective test equipment or test software provided by Nutanix; or (vii) the compliance of Components (excluding Production Materials) or Products with any safety or Environmental Regulations or other laws.  “Production Materials” means the glue, solder and other materials used to integrate the Components into the Products.
(c)Upon any failure of a Product to comply with this express limited warranty, Flextronics’s sole obligation, and Nutanix’s sole remedy, is for Flextronics, at Flextronics’s option, to promptly repair or replace such unit and return it to Nutanix, freight prepaid.  In the event that such Product cannot be repaired or replaced using commercially reasonable efforts, Flextronics shall credit the price paid by the Nutanix to Flextronics for such unit.  
(d)Flextronics warrants environmental compliance of all Production Materials used to create the Products.  Flextronics does not warrant Components, but will pass through environmental warranties from its suppliers to the degree allowed in its supplier agreements. In addition, Flextronics will review certificates of conformity from vendors of Components, excluding Customer Controlled Components and Customer Consigned Components; provided that Flextronics’s sole obligation with respect to such Components is to review the applicable certificate of conformity. Flextronics will maintain appropriate records to allow traceability of all Products and/or Components.  Flextronics will undertake to immediately inform Nutanix of any material changes that come to its attention affecting environmental compliance.  For the purpose of this MOU, “Customer Controlled Components” means Components provided to Flextronics by Nutanix or by vendors with whom Nutanix has a direct commercial relationship with in connection to that Component.  In addition, “Customer Consigned Components” means Components that are provided to Flextronics by Nutanix and which Flextronics stores on behalf of Nutanix.  
(e)Epidemic Failure.  Notwithstanding the above, should failures of the Product be the result of an Epidemic Failure, ,the parties shall mutually agree whether Flextronics shall either repair or replace Products subject to such Epidemic Failure.  In addition, Flextronics shall credit Nutanix for reasonable direct costs that are incurred by Nutanix as a result of an Epidemic Failure.  Such remedies for Epidemic Failure shall be in addition to any other remedies Nutanix may have under this MOU.  An “Epidemic Failure” is defined as failure of more than [***] of the Products that occur [***] and where there is a single root cause of the failure which is a result of a breach of Flextronics’s warranty under Section 1.1 of this Exhibit A. 

2.No Representations or Other Warranties. FLEXTRONICS MAKES NO OTHER REPRESENTATIONS OR WARRANTIES ON THE PERFORMANCE OF THE SERVICES, OR THE PRODUCTS, EXPRESS, IMPLIED, STATUTORY, OR IN ANY OTHER PROVISION OF THIS MOU OR COMMUNICATION WITH NUTANIX, AND FLEXTRONICS SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTY OR CONDITION OF MERCHANTABILITY, TITLE OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.    

*** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.EX-10.4

 Exhibit 10.4 

Execution Version 
 TERMS IN THIS EXHIBIT
HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE
ASTERISKS (***). 
 LIMITED RECOURSE RECEIVABLES PURCHASE AGREEMENT 

dated 
 September 16, 2016

 among 
 SPACE SYSTEMS/LORAL,
LLC, 
 MACDONALD, DETTWILER AND ASSOCIATES LTD. 

and 
 ING BANK N.V. 

 TABLE OF CONTENTS 
  

					
	 	  	Page	 
		
	 PARTIES
	  	 	1	 
	 RECITALS
	  	 	1	 
		
	 SECTION 1 – DEFINITIONS
	  	 	1	 
		
	 SECTION 2 – AGREEMENT TO PURCHASE AND SELL
	  	 	2	 
		
	 SECTION 3 - CONDITIONS PRECEDENT TO SIGNING
	  	 	4	 
		
	 SECTION 4 - CONDITIONS TO THE PURCHASER’S PURCHASE OF ORBITAL RECEIVABLES
	  	 	6	 
		
	 SECTION 5 - SERVICING PROCEDURES
	  	 	8	 
		
	 SECTION 6 - REPRESENTATIONS AND WARRANTIES BY THE SELLER
	  	 	11	 
		
	 SECTION 7 - COVENANTS OF THE SELLER AND THE GUARANTOR
	  	 	13	 
		
	 SECTION 8 – SELLER AND GUARANTOR EVENTS OF DEFAULT
	  	 	17	 
		
	 SECTION 9 –THE PURCHASER’S REMEDIES WITH RESPECT TO PURCHASED ORBITAL
RECEIVABLES
	  	 	18	 
		
	 SECTION 10 - DEFAULT INTEREST PAYABLE BY THE SELLER
	  	 	20	 
		
	 SECTION 11 - ENFORCEMENT BY THE PURCHASER
	  	 	20	 
		
	 SECTION 12 - OBLIGATIONS UNDER SATELLITE CONTRACTS
	  	 	22	 
		
	 SECTION 13 -TERMINATION
	  	 	22	 
		
	 SECTION 14 - ENVIRONMENTAL REVIEW
	  	 	22	 
		
	 SECTION 15 - MISCELLANEOUS
	  	 	23	 

  

			
	SCHEDULE 1.1	 	DEFINED TERMS
	SCHEDULE 1.2	 	COLLECTIONS SCHEDULE
	EXHIBIT “A”	 	FORM OF LETTER OF OFFER
	EXHIBIT “B”	 	FORM OF LETTER OF CUSTOMER NOTIFICATION AND CONSENT REQUEST FROM SSL
	EXHIBIT “C”	 	FORM OF LETTER OF CUSTOMER NOTIFICATION OF CONSUMMATION OF SALE FROM SSL
	EXHIBIT “D”	 	FORM OF ACKNOWLEDGEMENT AND CONSENT
	EXHIBIT “E”	 	DOCUMENT DELIVERY PROTOCOL

 LIMITED RECOURSE RECEIVABLES PURCHASE AGREEMENT (this “Agreement”) dated as of
September 16, 2016, among SPACE SYSTEMS/LORAL, LLC, a Delaware limited liability company (the “Seller”), and as servicer as described below (the “Servicer”), MACDONALD, DETTWILER AND ASSOCIATES LTD., a company
continued under the laws of the Province of British Columbia, as guarantor as described below (the “Guarantor”), and ING BANK, N.V., a company formed under the laws of the Netherlands, as Purchaser (the
“Purchaser”). 
 WHEREAS, in connection with the sale by the Seller of Satellites to various Obligors, the Seller is
entitled to Orbital Receivables from such Obligors conditioned upon the Satellites meeting certain performance specifications; 
 WHEREAS,
the Seller has requested the Purchaser to purchase, upon the parties’ entry into this Agreement and thereafter from time to time, certain Orbital Receivables, as defined and further described herein, owing from time to time by Obligors to the
Seller. The Purchaser is prepared to make such purchases of Orbital Receivables that are Eligible Receivables, as defined and further described herein, on and subject to the terms and conditions hereof; 

WHEREAS, the Purchaser shall only consider for purchase hereunder Eligible Receivables collectible from certain Obligors approved by the
Purchaser and agreed by the Seller pursuant to a Letter of Offer (as herein defined); 
 NOW THEREFORE, in consideration of the foregoing
and subject to the terms and conditions herein set forth, the parties agree as follows: 
 SECTION 1 – DEFINITIONS 

1.1 Defined Terms. For the purposes of this Agreement, capitalized words and phrases shall have the meanings set forth in Schedule 1.1 (Defined
Terms) hereto and made a part hereof. 
 1.2 Terms Generally. Definitions shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. All forms of “include” shall be deemed to be followed by the phrase “without limitation”. The word
“will” shall have the same meaning and effect as “shall”. Unless the context requires otherwise (a) reference to any agreement or other document herein shall be construed as referring to such agreement or other document as
from time to time amended (subject to any restrictions on such amendment set forth herein); (b) reference to any Person shall be construed to include such Person’s successors and assigns; (c) “herein”, “hereof” and
“hereunder”, and similar words, and references to “this Agreement” shall be construed to refer to this Agreement (including schedules and exhibits) in its entirety and not to any particular provision hereof; and (d) all
references to sections and schedules and exhibits shall be construed to refer to sections of and schedules and exhibits to this Agreement. 

 SECTION 2 – AGREEMENT TO PURCHASE AND SELL 

2.1 Purchase and Sale. Subject to the terms and conditions of this Agreement and each applicable Letter of Offer, the Purchaser hereby agrees to
purchase Orbital Receivables from the Seller that are Eligible Receivables on a limited recourse basis (as further detailed herein). The parties hereto agree that during the term of this Agreement the aggregate Purchase Price of Eligible Receivables
purchased and agreed to be purchased in accordance with the terms of this Agreement shall not exceed, at any time, $400,000,000. 
 2.2 Letter of
Offer. (a) The Seller may, at any time, issue a Letter of Offer to the Purchaser offering to sell absolutely to the Purchaser all of the Seller’s rights, title, benefits and ownership interest in and to those Orbital Receivables as
more particularly described in the relevant Letter of Offer, subject to the terms and conditions hereof and of the relevant Letter of Offer. Notwithstanding any provision of this Agreement or any Letter of Offer, the Seller agrees that the Purchaser
will not be obligated in any manner whatsoever to purchase any Orbital Receivables that are Eligible Receivables as contemplated hereunder until the Seller has issued and the Purchaser has affirmatively accepted a Letter of Offer, such acceptance to
be signified by the Purchaser’s countersignature thereof. The Purchaser shall decide in its sole discretion whether or not in any instance it will accept a Letter of Offer and purchase some or all of the Eligible Receivables offered pursuant to
such Letter of Offer, and the Purchaser may decline at any time whatsoever to accept any Letter of Offer or to purchase any or all of the Eligible Receivables offered thereby notwithstanding that the Seller has fulfilled all of the conditions
hereunder. 
 (b) A Letter of Offer shall be issued by the Seller not fewer than five (5) Business Days before a proposed Purchase Date
and shall notify the Purchaser of the Seller’s desire to sell Orbital Receivables to the Purchaser and shall specify (i) the proposed Purchase Date, (ii) the Collections Schedule applicable to each such Orbital Receivable,
(iii) the Obligor contractually obligated to make payments on each such Orbital Receivable and the Satellite in respect of which such payments are made, (iv) the IOT Completion Certificate with respect to each Satellite in respect of which
such Orbital Receivables are to be paid, (v) the historical payment performance (if it exists) under the relevant Satellite Contract, and (vi) the Face Value of each such Orbital Receivable. In addition, arrangements shall have been made
whereby, pursuant to the Document Delivery Protocol, each Satellite Contract that sets forth the terms of each such Orbital Receivable shall be made available to the Purchaser for purposes of its due diligence review. If the Purchaser in its sole
discretion decides to purchase some or all of the Orbital Receivables that are Eligible Receivables, it will, not fewer than three (3) Business Days before the proposed Purchase Date, provide the Seller with its calculations with respect to the
Margin and the Purchase Price for each such Eligible Receivable proposed to be purchased and the applicable Fixed Rate. If the Seller is dissatisfied with the applicable Fixed Rate, it may elect not to complete the sale of the Orbital Receivables to
which such Fixed Rate applies, provided that in any other instance the Seller shall be bound to complete the sale once the Purchaser has indicated its acceptance of an offer by countersigning the applicable Letter of Offer. 

  
 2 

 2.3 Payment of Purchase Price. Upon receipt by the Seller of a Letter of Offer countersigned and completed
by the Purchaser indicating which of the offered Orbital Receivables are accepted by the Purchaser and including the applicable Fixed Rate, the Margin and the aggregate Purchase Price for the Orbital Receivables identified in such Letter of Offer,
the Purchaser shall pay the Purchase Price for the Eligible Receivables to the Seller on the Purchase Date and upon such payment the Seller shall be deemed, without any further action, to have transferred to the Purchaser any and all rights and
interest it has in the Eligible Receivables. 
 2.4 True Sale. The parties acknowledge and agree that the sale by the Seller to the Purchaser of each
Purchased Orbital Receivable is an absolute sale, without prejudice to the Purchaser’s rights under Section 9, and is not intended to constitute, and shall not constitute, a grant of a security interest by the Seller to the Purchaser in
respect of an obligation owing by the Seller to the Purchaser, whether under this Agreement or otherwise. For greater certainty and the avoidance of doubt, from and after each Purchase Date, the Purchaser will be entitled to receive, with respect to
each Purchased Orbital Receivable, all payments on account of the Purchased Orbital Receivable and to settle, adjust and forgive any amounts payable on such Purchased Orbital Receivable and exercise all other indicia of ownership with respect to
such Purchased Orbital Receivable. In the event that the sale of any Purchased Orbital Receivables by the Seller, and the purchase thereof hereunder by the Purchaser, is characterized by a court or other Governmental Authority as a grant of a
security interest to secure an obligation owing by the Seller to the Purchaser rather than a sale and purchase, and in order to further and fully protect the rights of the Purchaser as respects third parties, the Seller hereby assigns, transfers,
conveys and grants to the Purchaser, effective as of the date of the first purchase under this Agreement, a security interest in all of the Seller’s right, title and interest in, to and under all of the Purchased Orbital Receivables, whether
now or hereafter owned, existing or arising. Such security interest shall secure any and all rights of, and payments owed to, the Purchaser under this Agreement, whether now or hereafter existing or arising, due or to become due, direct or indirect,
absolute or contingent. The Purchaser shall have, in addition to all the other rights and remedies available to the Purchaser under this Agreement and applicable law, all the rights and remedies of a secured party under the Uniform Commercial Code
as in effect in the State of New York, and this Agreement shall constitute a security agreement under applicable law. Each of the Purchaser and the Seller, respectively, will cause all of its applicable books and records (including computer and
other electronic records) to clearly and accurately reflect that the Purchaser has purchased the Purchased Orbital Receivables. 
 2.5 Technical Failure;
Makewhole. (a) In the event that any Obligor: (i) is relieved of its obligation under the relevant Satellite Contract to pay all or any portion of a Purchased Orbital Receivable as a result of a Technical Failure of the Satellite; or
(ii) subject to the immediately following paragraph (b), is late in paying when due all or any portion of a Purchased Orbital Receivable; or (iii) claims any setoff, Dilution, dispute, counterclaim or withholding against the Seller
relative to the payment of a Purchased Orbital Receivable, then, in each of the foregoing cases, the Seller shall pay to the Purchaser the amounts not paid by such Obligor, on the dates and in the amounts due in accordance with the relevant
Collections Schedule, directly into the Pledged Account (subject to reimbursement in accordance with Section 5.2(a)). 

  
 3 

 (b) The only risk that the Purchaser shall bear with respect to any Purchased Orbital Receivable
is the risk of Bankruptcy in respect of the relevant Obligor, which risk the Purchaser shall bear without recourse to the Seller. For purposes of clause (ii) of the preceding paragraph, in the event that an Obligor fails to make a payment
required under a Purchased Orbital Receivable when due, such failure shall be deemed a late payment and not the result of any Bankruptcy in respect of such Obligor unless the Servicer provides evidence reasonably satisfactory to the Purchaser in
accordance with this paragraph that such failure was attributable to Bankruptcy. The Servicer shall advise the Purchaser promptly upon becoming aware of the occurrence of Bankruptcy in respect of an Obligor. In the event that the Servicer so advises
the Purchaser, or if the Servicer provides evidence in a Settlement Report that a delinquency or default on the part of an Obligor is or may be attributable to Bankruptcy in respect of such Obligor, then: 

(i) the Purchaser and the Seller shall liaise in order to determine the appropriate action (if any) to be taken in order to
protect the interests of the Purchaser as owner of the relevant Purchased Orbital Receivables and the interests of the Seller as party to the relevant Satellite Contract and (as applicable) owner of other Orbital Receivables; 

(ii) in considering any default, delinquency or other financial circumstances contemplated by this paragraph, the parties shall
determine whether Bankruptcy has occurred or is likely to occur in respect of an Obligor, as well as the extent to which any default or delinquency may be attributable to such Bankruptcy, to administrative or similar errors, or to technical or
performance requirements under the relevant Satellite Contract; 
 (iii) if the parties determine that any default or
delinquency was attributable to Bankruptcy in respect of the relevant Obligor then the Seller and the Purchaser shall proceed in accordance with Section 11.1(b) hereof. 

(c) In the event that an Obligor elects to prepay all or a portion of a Purchased Orbital Receivable, the Seller shall make whole the
Purchaser and compensate it in accordance with Section 7.1(x) hereof. In the event the Obligor pays all or any portion of any Purchased Orbital Receivable to the Purchaser for which the Seller has previously paid the Purchaser, the Purchaser shall
promptly pay such amounts to the Seller. 
 SECTION 3 - CONDITIONS PRECEDENT TO SIGNING 

3.1 Conditions Precedent (Signing). The Purchaser’s obligations under this Agreement are subject to and conditional upon the Purchaser having
received or having been otherwise satisfied with respect to each of the following on or prior to the date hereof (provided, however, that the Purchaser may, in its sole discretion, waive any of the following requirements either in whole or in
part and with or without conditions): 
 (a) the Seller’s representations and warranties as set forth in Section 6 are complete and
accurate as of the date hereof, provided, that with respect to the receipt by the Seller of the fully executed Letter of Acknowledgement and Consent from each Obligor as set forth in Section 6.1(c) only, the receipt of each such Letter of
Acknowledgement and Consent shall not be a condition to the execution of this Agreement by the parties; 

  
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 (b) the Pledged Account has been created by the Servicer and the Pledged Account is subject to no
liens except for the liens created by the Security Agreement in favor of the Purchaser and any Participants identified by the Purchaser; 

(c) the Transaction Documents (except for any Letter of Offer with regard to offers of Orbital Receivables) have been duly executed and
delivered by all parties thereto; 
 (d) the favorable opinion of one or more external legal counsel for the Seller or the Guarantor, or
both, at the Purchaser’s option, to such effect as the Purchaser may reasonably require, subject to customary assumptions and qualifications, including, inter alia, (i) due authority and all required authorizations for the execution and
performance of this Agreement and the other Transaction Documents to which it is a party; (ii) execution and performance of this Agreement and the Transaction Documents to which the Seller and the Guarantor are parties do not conflict with any
law or regulation, organizational documents or specified agreements; (iii) that the Guarantor’s obligations under the Guarantee are legal, valid and enforceable; and (iv) that the Purchaser shall, upon execution and delivery of this
Agreement and the other Transaction Documents, have a valid and enforceable security interest in the Pledged Account and that, upon completion of the procedure detailed in such opinion for perfection of such security interest, such security interest
will be perfected under applicable law; 
 (e) [not used]; 

(f) the Seller shall be in compliance with the covenants set forth in Section 7 hereof; 

(g) the Seller shall have delivered a certified resolution of the boards of directors of each of the Seller and the Guarantor approving the
Seller’s and the Guarantor’s entry into and performance of its obligations under this Agreement and the other Transaction Documents to which each is a party, and the performance and consummation by each of the Seller and the Guarantor of
the transactions contemplated hereby and thereby; 
 (h) an incumbency certificate evidencing that each signatory on behalf of the Seller and
Guarantor for each Transaction Document is duly authorized and empowered to bind each of the Seller and the Guarantor to the terms of each Transaction Document to which either, respectively, is a party, in accordance with applicable law; 

(i) there shall have been no Default or Event of Default; 

(j) the favorable opinion of one or more external legal counsel for the Purchaser to such effect as the Purchaser may reasonably require,
subject to customary assumptions and qualifications, that the purchase of Purchased Orbital Receivables in accordance with the terms of this Agreement shall constitute true sales and absolute transfers under applicable law as opposed to a loan or
the grant of a security interest to secure a loan; and 
 (k) the establishment of the data room, the appointment of the administrator
thereof and the completion of the arrangements related to the data room, all as provided for under the Document Delivery Protocol. 

  
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 SECTION 4 - CONDITIONS TO THE PURCHASER’S PURCHASE OF ORBITAL RECEIVABLES 

4.1 Conditions Precedent (Each Purchase of Orbital Receivables). The Purchaser’s obligation to purchase any Orbital Receivable, including the
Initial Purchase as well as any subsequent purchase of Orbital Receivables from the Seller, without prejudice to the Purchaser’s rights under Section 2.2, is subject to and conditional upon: 

 

	 	(a)	receipt by the Purchaser of a Letter of Offer for the particular Orbital Receivables to be purchased, duly executed and delivered by the Purchaser and the Seller; 

 

	 	(b)	receipt by the Purchaser of a copy of each duly executed and delivered letter of notification (the “Obligor Notification”) by the Seller to each Obligor under each Satellite Contract giving rise to the
particular Orbital Receivables to be purchased, advising of the Seller’s intention to sell Orbital Receivables to the Purchaser, in the form attached hereto as Exhibit “B” and a copy of each duly executed and delivered Letter of
Acknowledgement and Consent from each such Obligor in the form attached hereto as Exhibit “D” or, in each case, in such form as may be acceptable to the Purchaser; 

 

	 	(c)	receipt by the Purchaser of viewing access to a true and correct copy of each Satellite Contract (excluding any exhibits of technical specifications except as may be needed to calculate or determine the Orbital
Receivables) giving rise to the particular Orbital Receivables to be purchased, as well as evidence satisfactory to the Purchaser that each Obligor under each such Satellite Contract has consented to the delivery of hard copies of each such
Satellite Contract in accordance with the Document Delivery Protocol; 

  

	 	(d)	the representations of the Seller in Section 6 hereof being true and correct with the same effect as if made on such date; 

  

	 	(e)	the aggregate Purchase Price of Orbital Receivables to be purchased by the Purchaser together with any Purchased Orbital Receivables that are not yet fully paid by their Obligors not being in excess of $400,000,000;

  

	 	(f)	each Orbital Receivable to be purchased being an Eligible Receivable; and 

  

	 	(g)	payment of any amounts, including fees and expenses, then due from the Seller to the Purchaser, including the Program Structuring Fee, the Transaction Fee and the Transaction Expenses, provided that such amounts may be
paid out of the proceeds of the Initial Purchase. 

  
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 4.2 Further Conditions Precedent. Without prejudice to the Purchaser’s rights under Section 2.2,
the Purchaser shall not purchase, without regard to whether the Purchaser has accepted or executed any Letter of Offer, any Orbital Receivable, including any Eligible Receivable, from the Seller: 

(a) if this Agreement is terminated pursuant to Section 13; 

(b) if the representations and warranties of the Seller in Section 6 hereof are not true and correct or the Seller is in breach of any
provision of this Agreement, any Letter of Offer or other Transaction Document or any other agreement, instrument or document issued in respect hereof or thereof; 

(c) if a Default or an Event of Default has occurred or is continuing; 

(d) if a Material Adverse Change has occurred; 

(e) after the Purchase Date which is identified in the applicable Letter of Offer; 

(f) if any event or circumstance arises which, in the reasonable opinion of the Purchaser, is likely to materially or adversely affect the
ability of the Seller, the Guarantor or an Obligor, as the case may be, to perform their respective obligations under this Agreement or under the Guarantee or any applicable Satellite Contract including, without limitation, the Bankruptcy of any
Person; 
 (g) if there is a commercial or technical dispute between the Seller and an Obligor under or in respect of the applicable
Satellite Contract; 
 (h) if the Purchaser has not received from the Seller all fees and expenses payable by the Seller and due to the
Purchaser; or 
 (i) if, in respect of the relevant Satellite Contract, there is credible evidence that either the Seller or an Obligor has
been a party to an action which is prohibited by Anti-Corruption Laws. 

  
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 SECTION 5 - SERVICING PROCEDURES 

5.1 Instruction to Obligors. The Servicer shall, prior to each purchase of Orbital Receivables, deliver to each Obligor with respect to an Orbital
Receivable offered for purchase an Obligor Notification in the form attached hereto as Exhibit “B” and shall have secured, as proof of such Obligor’s consent to such purchase, and agreement to make payments in respect of such Orbital
Receivables into the Pledged Account, a Letter of Acknowledgement and Consent in the form attached hereto as Exhibit “D”. 
 5.2 Servicing of
Purchased Orbital Receivables. 
 (a) The Servicer agrees, unconditionally and irrevocably, that (i) on each Business Day during the
term of this Agreement, it shall transfer all amounts collected in the Collection Accounts in respect of all Purchased Orbital Receivables (as reflected in the Collections Schedules related thereto) into the Pledged Account; and (ii) on the
fifth Business Day of each month during the term of this Agreement it shall pay over all amounts that have accumulated in the Pledged Account to the Purchaser into the Agency Account, except for interest paid by the account bank with respect to the
Pledged Account that has accumulated, if any (which interest shall be for the account of the Seller and may be paid to the Seller at any time). The Servicer shall notify the Purchaser on the third Business Day of each month whether all amounts due
as of that day from Obligors in respect of Purchased Orbital Receivables and as reflected in the Collections Schedules have been received in the Pledged Account. In the event that all such amounts have not been received in the Pledged Account by
such date, the Seller shall pay into the Pledged Account an amount equal to the deficit on the fourth Business Day of the month. The Purchaser shall reimburse the Seller for any amount paid by the Seller in accordance with the preceding sentence
upon the Seller providing evidence (and to the extent) that the deficit was not due to circumstances contemplated by paragraphs (a) or (c) of Section 2.5. If the Seller fails to pay when due any of the amounts set forth in this subsection,
the Seller shall pay default interest as prescribed by Section 10.1 hereof with respect to the overdue amounts, subject to and without prejudice to the Purchaser’s rights under Section 8.1(a) hereof. Notwithstanding the preceding sentence,
if a late payment by an Obligor results in a right of the Seller to reimbursement under this Section 5.2(a), the Seller may withhold the amount of such reimbursement from the amount it would otherwise be obligated to pay into the Pledged Account in
accordance with the terms hereof, provided that such late payment shall be reflected and identified as giving rise to such right to reimbursement in the next Settlement Report. If the Seller proves, subsequent to having paid amounts held in the
Pledged Account into the Agency Account and subject to the reasonable satisfaction of the Purchaser with respect to such proof, that such amounts paid into the Agency Account mistakenly included amounts to which the Seller is entitled in accordance
with its right to reimbursement under this Section 5.2(a), then the Purchaser shall promptly reimburse to the Seller such amount to which Seller is entitled. 

  
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 (b) Notwithstanding any contrary provision of subsection (a) of this Section, in the event
of a Default or in the event of the occurrence of a Direct Payment Event, the Seller and the Purchaser both acknowledge and agree that the Purchaser shall have the right to send a notice (a “Direct Payment Notice”) to each Obligor
with respect to a Purchased Orbital Receivable directing such Obligor to pay the amounts due in respect of each Purchased Orbital Receivable directly to the Purchaser into the Agency Account, and the Seller shall make no objection to and shall not
dispute in any manner the Obligor’s compliance with such notice and direction. 
 (c) In the event that an Obligor elects to prepay all
or a portion of the amounts due in respect of a Purchased Orbital Receivable, the Seller shall pay such amounts into the Pledged Account in accordance with Section 7.1(x) of this Agreement. 

(d) In no event shall the Seller make or permit any payment from the Pledged Account other than to the Purchaser unless the Purchaser has first
consented in writing to such payment. 
  

	5.3	Settlement Report. The Servicer shall, on the third Business Day of each month, or as otherwise agreed or required, provide the Purchaser with a Settlement Report. 

 

	5.4	Bank Account Statements; Electronic Information Access. 

 (a) The Servicer shall deliver
to the Purchaser current bank account statements of the Pledged Account on a monthly basis. 
 (b) During the term of this Agreement, and as
long as this Agreement applies to any Purchased Orbital Receivable, the Servicer shall provide the Purchaser with the same electronic access to information regarding the Pledged Account as is available to the Servicer. 

 

	5.5	Taxes. 

 (a) The Seller agrees to pay, and to indemnify, protect, save and hold harmless,
each Beneficial Owner from and against any and all Indemnified Taxes and related interest, penalties, and other amounts levied against it, which may be imposed or asserted by reason of the Purchased Orbital Receivables. 

(b) All payments to be made by the Seller to a Beneficial Owner hereunder shall be made free and clear of and without deduction for any present
or future Taxes, except as required by applicable law. If the Seller is required by law to deduct or withhold Indemnified Taxes from any payment hereunder, the amount payable to the Beneficial Owner shall be increased by the amount of such deducted
or withheld Taxes so that, after making the required deduction or withholding, the Beneficial Owner receives and retains (free from any liability in respect of any Indemnified Taxes that should have been so deducted or withheld) an amount equal to
the amount it would have received and retained had there been no such deduction or withholding. 

  
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 (c) Upon each purchase of Purchased Orbital Receivables, the Purchaser shall: 

(i) Deliver to the Seller, on or prior to the date of the purchase, two (2) properly completed and duly executed copies of
US Internal Revenue Service Form W-8BEN or W-8ECI, as applicable; establishing a full exemption from U.S. federal withholding tax on payments of interest. 

(ii) To the extent the Purchaser is not the Beneficial Owner of all or a portion of such Purchased Orbital Receivables (for
example, if the Purchaser has assigned or sold a participation interest in a Purchased Orbital Receivable), deliver to the Seller, on or prior to the date of the purchase, two (2) properly completed and duly executed copies of US Internal
Revenue Service Form W-8IMY, accompanied by any of US Internal Revenue Service Forms W-8ECI, W-8BEN or W-9, or a certificate allowing for an exemption from U.S. federal withholding tax on interest pursuant to Section 871(h) or Section 881(c) of the Code. 

(iii) With respect to any Purchased Orbital Receivable where the Obligor is not a “United States person” within the
meaning of Section 7701(a)(30) of the Code, the Purchaser shall deliver to the Seller, on or prior to the date of the purchase, to the extent it is legally able to do so, the forms and/or certificates timely requested by the Seller that may be
required under the laws or regulations of the jurisdiction of the Obligor (and any subdivision thereof) as a basis for claiming an exemption from withholding tax under such jurisdiction, except where providing such forms and/or certificates would,
in the reasonable judgment of a Beneficial Owner, subject such Beneficial Owner to any material unreimbursed cost or expense or materially prejudice the legal or commercial position of such Beneficial Owner. 

(d) Upon an assignment of, or sale of a participation in, any interest in a Purchased Orbital Receivable, the Purchaser (as applicable) shall
provide on or prior to the assignment or sale the applicable withholding tax forms described in Section 5.5(c)(ii) in respect of the assignee or Participant. 

(e) The Purchaser shall from time to time, whenever a lapse in time or change in such Person’s circumstances (other than a Change in Law)
renders any form, certificate or other document provided in Section 5.5(c) or Section 5.5(d), as applicable, obsolete or inaccurate (i) promptly deliver to the Seller two (2) properly completed, duly executed and updated documents or
(ii) promptly notify the Seller of its inability to deliver any such documents. 
 (f) If any Beneficial Owner receives a refund of any
Taxes or additional amounts with respect to which the Seller has paid an indemnity or additional amount pursuant to Section 5.5(a) or Section 5.5(b), then such Person shall promptly pay over the amount of such refund to the Seller, net of all out-of-pocket expenses of such Person related to obtaining such refund, provided that in no event will the Beneficial Owner be required to pay any amount pursuant to this
paragraph (f) the payment of which would place it in a less favorable net after-Tax position than it would have been in if the Tax subject to indemnification and giving rise to such refund had not been
deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be 

  
 10 

 
construed to require any Beneficial Owner to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the Seller or any other Person. As a
condition to payment by the Seller of any amount pursuant to Section 5.5(a) or Section 5.5(b) to or for the benefit of a Beneficial Owner other than the Purchaser, the Seller may require such Beneficial Owner to agree in writing to the provisions of
this Section 5.5(f). 
 SECTION 6 - REPRESENTATIONS AND WARRANTIES BY THE SELLER 

6.1 Representations and Warranties. The Seller represents and warrants to the Purchaser at the time of entering into this Agreement and, on and as of
each Purchase Date, shall be deemed to represent and warrant to the Purchaser (and acknowledges and agrees that the Purchaser may rely on such representations and warranties notwithstanding receipt by it of any information or documentation
including, without limitation, the Satellite Contracts) that: 
 (a) It (i) is a limited liability company duly established, validly
existing and in good standing under the laws of its jurisdiction of formation, and (ii) has all the power and authority to conduct its business as and where presently conducted, and to own its assets and has full power and authority to execute
and deliver all Transaction Documents to which it is a party, and to fulfill its obligations under and consummate the transactions contemplated by the Transaction Documents to which it is a party, and the performance thereof does not conflict with
any other obligations of the Seller. 
 (b) It has all Authorizations necessary and appropriate for the conduct of its business and the
performance of its obligations under this Agreement. 
 (c) It has delivered all Obligor Notifications required hereunder and received all
executed Letters of Acknowledgement and Consent from each Obligor of an Orbital Receivable to be purchased by the Purchaser and from any other third parties whose consents may be necessary for the consummation of the transactions contemplated hereby
and by the Transaction Documents. 
 (d) It is in compliance in all material respects with all applicable laws, rules and regulations. 

(e) This Agreement and each other Transaction Document to which it is a party are valid, binding and enforceable obligations of it. 

(f) The information provided by it to the Purchaser, including all information regarding Orbital Receivables, Obligors and the Pledged Account,
is complete and accurate in all material respects. 
 (g) No withholding tax is due on any Purchased Orbital Receivable or in respect of any
payment due under any of the Transaction Documents to which it is a party. 

  
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 (h) It is not involved in any litigation that would reasonably be expected to have a material
adverse effect on the Purchaser’s receipt of payments in respect of each Purchased Orbital Receivable. 
 (i) It has good title to each
Purchased Orbital Receivable, and, upon transfer to the Purchaser upon purchase pursuant to the terms of this Agreement, such title will be free and clear of all liens and encumbrances (other than Permitted Liens). 

(j) No Obligor under a Purchased Orbital Receivable is (at the time of purchase thereof) subject to Sanctions by Canada, the European Union or
the Office of Foreign Assets Control of the United States. 
 (k) Each of its obligations under the Transaction Documents to which it is a
party ranks at least pari passu with its other unsecured obligations. 
 (l) No Material Adverse Change to its business as conducted at the
time of execution and delivery of this Agreement has occurred. 
 (m) It has not, to its knowledge, omitted to inform the Purchaser of a
material fact necessary in order to make the other information provided to the Purchaser not misleading 
 (n) It is not in default of any
obligation under this Agreement or under any Transaction Document to which it is a party. 
 (o) It is not insolvent and no insolvency
proceeding has been initiated against it. 
 (p) The first priority security interest of the Purchaser in and to the Pledged Account created
by the Security Agreement is in full force and effect and is valid and enforceable by the Purchaser. 
 (q) Each Orbital Receivable with
respect to which the Seller has issued a Letter of Offer is an Eligible Receivable. 

  
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 SECTION 7 - COVENANTS OF THE SELLER AND THE GUARANTOR 

7.1 Covenants of the Seller. The Seller agrees that, at all times throughout the term of this Agreement: 

(a) It will perform all its covenants under and comply with the terms of all Satellite Contracts giving rise to the Purchased Orbital
Receivables (except where such failure to perform would not materially adversely affect the enforceability or collectability of any Purchased Orbital Receivable thereunder or in any manner discharge the Obligor of or from any of its payment
obligations directly related to any Purchased Orbital Receivable) and not agree to any setoff, withholding or deduction with respect thereto; 

(b) Even if otherwise entitled, the Seller will not amend, waive, settle, terminate, cancel or accept termination or cancellation of any term
of any Satellite Contract that could, in the reasonable determination of the Purchaser, materially adversely affect the enforceability or collectability of any Purchased Orbital Receivable thereunder, or in any manner discharge the Obligor of or
from any of its payment obligations directly related to any Purchased Orbital Receivable or consent to the assignment by the Obligor of its payment obligations under the Satellite Contract; and, in the event of the Bankruptcy of an Obligor obligated
to pay one or more Purchased Orbital Receivables, the Seller shall not enter into a new contract for the provision of the same or substantially similar services in respect of the Satellite that gave rise to any such Purchased Orbital Receivable
(whether with an existing Obligor or any other Person), provided, that the Seller may enter into such a new contract if it pays over to the Purchaser as and when received any amounts received in return for such services under such new contract, up
to an amount equal to the amount due in respect of each such Purchased Orbital Receivable; 
 (c) All written information to be furnished by
the Seller to the Purchaser in connection with this Agreement or any purchase contemplated hereby will, to the best of the Seller’s knowledge, be true and accurate in all material respects as of the date as of which such information is stated
or certified; 
 (d) It shall not be entitled to any setoff under the terms of this Agreement; 

(e) It shall timely provide the Settlement Reports as provided in Section 5.3 and comply with any reporting requirements of applicable
law; 
 (f) It shall provide to the Purchaser, promptly upon request, reasonable access to information (including provision of financial
statements of the Guarantor), records, and the right to make on-site visits for purposes of annual due diligence sessions; 

(g) It shall notify the Purchaser, promptly upon its becoming aware of them, of the existence and a reasonable description of any litigation,
whether pending or threatened, against the Seller, any judgments against the Seller, any changes to the Credit and Collection Procedures, any change with respect to a Purchased Orbital Receivable that causes it to cease to be an Eligible Receivable,
or of any event likely to constitute a Material Adverse Change; 

  
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 (h) It shall comply with the Credit and Collection Procedures; 

(i) It shall keep current and complete records and books of account with respect to all Purchased Orbital Receivables; 

(j) It shall cooperate fully and assist the Purchaser in conducting due diligence in connection with the transactions contemplated by the
Transaction Documents; 
 (k) It shall, throughout the term of this Agreement, maintain its existence and conduct of business and shall
maintain the pari passu ranking of the Purchaser with regard to its obligations hereunder and under the other Transaction Documents and shall at no time during the term of this Agreement allow any lien or encumbrance on the Pledged Account or on any
Purchased Orbital Receivable other than as permitted by the terms of this Agreement or of the other Transaction Documents; 
 (l) It shall at
all times comply with the terms of the Transaction Documents to which it is a party; 
 (m) It shall not allow any commingling of other funds
with the payments by the Obligors into the Pledged Account; 
 (n) [not used] 

(o) [not used] 
 (p) It shall at
all times comply with Sanctions imposed by the United States, the European Union or Canada; 
 (q) It shall provide all cooperation and
assistance necessary to perfect the security interests of the Purchaser as contemplated by the terms of this Agreement and of the Transaction Documents; 

(r) It will (promptly upon becoming aware of same) advise the Purchaser in writing, of: 

(i) any notice, demand or claim that it receives from any Obligor that relates to the enforceability or collectability of a Purchased Orbital
Receivable; 
 (ii) the occurrence or existence of any other event or circumstance that could materially adversely affect the enforceability
or collectability of a Purchased Orbital Receivable (including, without limitation, the default of the Seller or any Obligor under any relevant Satellite Contract or any dispute related to a Purchased Orbital Receivable), or the ability of the
Seller to perform its obligations hereunder or under any Letter of Offer or with respect to an Orbital Receivable, in which case, at the request of the Purchaser, the Purchaser and the Seller shall then liaise in order to determine the appropriate
action (if any) to be taken in order to protect the interests of the Purchaser as owner of the relevant Purchased Orbital Receivables and the interests of the Seller as party to the relevant Satellite Contract and (as applicable) owner of other
Orbital Receivables; 

  
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 (iii) the Seller’s failure to observe or perform any term, covenant or agreement herein;

 (iv) any (A) representation or warranty made by the Seller hereunder or under a Letter of Offer or in connection therewith;
(B) written information supplied by the Seller to the Purchaser with respect to an Obligor; or (C) other written information supplied by the Seller to the Purchaser hereunder, under a Letter of Offer or in connection therewith, being
or becoming false, incorrect or misleading in any respect; 
 (v) any event or circumstance occurring which has resulted in, or would
reasonably be expected to have a material adverse effect on; (A) the Servicer’s or the Purchaser’s ability to collect any Purchased Orbital Receivable or enforce any rights or remedies with respect thereto; or (B) the
Purchaser’s ability to collect any monies owing to it by the Seller hereunder; 
 (vi) any event or circumstance that is likely to
materially adversely affect the ability of the Seller, the Guarantor or an Obligor, as the case may be, to perform their respective obligations under this Agreement or under the Guarantee or any applicable Satellite Contract, including without
limitation the Bankruptcy of any Person; 
 (vii) the existence of a Direct Payment Event with respect to the Seller and the details relating
to the nature of such Direct Payment Event; 
 (viii) any Change of Control with respect to the Seller, the Guarantor or any Obligor, or with
respect to any Satellite from whose purchase arises a Purchased Orbital Receivable; 
 (ix) the existence and details of any new financial
ratios binding on the Seller or the Guarantor as a result of any new financing; and 
 (x) the existence and details of any circumstance that
would constitute a Repurchase Event. 
 (s) All applicable Taxes assessed on the Obligor and collected by the Seller with respect to the
Satellites, the sale of which generated the Purchased Orbital Receivables, have been or will be remitted by the Seller to the appropriate authorities (it being understood that the Seller may net all monies owing to the said authorities from any such
remittance if permitted at law). The Seller will fully indemnify and hold the Purchaser and any Participant harmless from and against all costs and expenses directly or indirectly incurred by the Purchaser or any Participant arising or resulting
from any Taxes owing, due or payable in the jurisdiction of the Obligor in connection with the Orbital Receivables; 

  
 15 

 (t) It will at all times comply with all applicable laws (including Environmental Laws and laws
relating to corruption or bribery) relating to it and its business other than (except in the case of laws relating to corruption and bribery) such noncompliance as would not reasonably be expected to result in a Material Adverse Change; 

(u) [not used]; 
 (v) It will, at
its own cost and expense, execute and deliver to the Purchaser all such documents, instruments and agreements and do all such other acts and things as may be reasonably required by the Purchaser to carry out the purpose of this Agreement or to
enable the Purchaser to exercise and enforce its rights hereunder; 
 (w) [not used]; 

(x) It will not prepay any portion of a Purchased Orbital Receivable, provided, that if an Obligor elects to prepay a Purchased Orbital
Receivable, the Seller shall transfer the full amount of such prepayment into the Pledged Account at the time of such prepayment together with an additional amount (if any) sufficient to cause the total amount paid into the Pledged Account in
respect of such prepaid Purchased Orbital Receivable (or portion thereof) to be equal to the Net Present Value of each such prepaid Purchased Orbital Receivable (or portion thereof); 

(y) It will inform the Purchaser, before sending any Obligor Notification to any Obligor, of the identity of the signatory on behalf of the
Seller of such Obligor Notification; 
 (z) It will not offer any Orbital Receivables for purchase by the Purchaser that are not Eligible
Receivables; and 
 (aa) prior to entry into any new financing of the Seller or the Guarantor, it will take all steps and enter into such new
agreements as shall be necessary to ensure that the Purchaser maintains its priority and all its existing rights with respect to the security interests created by the Security Agreement and the other Transaction Documents. 

7.2 Covenants of the Guarantor. The Guarantor agrees that, when required and, if applicable, at all times throughout the term of this Agreement: 

 

	 	(a)	It will execute the Guarantee; 

  

	 	(b)	Promptly upon becoming aware of the existence of a Direct Payment Event with respect to the Guarantor, inform the Purchaser in writing of the existence and details relating to the nature of such Direct Payment Event;

  

	 	(c)	It shall provide to the Purchaser, promptly upon request, reasonable access to information (including provision of financial statements), records, and the right to make on-site
visits for purposes of annual due diligence sessions; 

  
 16 

	 	(d)	It shall (promptly upon becoming aware of the same) inform the Purchaser if any event or circumstance arises that is likely to materially or adversely affect the ability of the Guarantor to perform its obligations under
this Agreement or under the Guarantee including, without limitation, the Bankruptcy of any Person; 

  

	 	(e)	All written information to be furnished by the Guarantor to the Purchaser in connection with this Agreement or any purchase contemplated hereby will, to the best of the Guarantor’s knowledge, be true and accurate
in all material respects as of the date as of which such information is stated or certified; 

  

	 	(h)	It shall (promptly upon becoming aware of the same) inform the Purchaser of any Change of Control with respect to the Seller, the Guarantor, or any Obligor, or with respect to any Satellite from whose purchase arises a
Purchased Orbital Receivable; 

  

	 	(i)	It shall (promptly upon becoming aware of the same) inform the Purchaser of the existence and details of any new financial ratios binding on the Seller or the Guarantor as a result of any new financing; and

  

	 	(j)	Prior to entry into any new financing of the Seller or the Guarantor, it will take all steps and enter into such new agreements as shall be necessary to ensure that the Purchaser maintains its priority and all its
existing rights with respect to the security interests created by the Security Agreement and the other Transaction Documents. 

SECTION 8 – SELLER AND GUARANTOR EVENTS OF DEFAULT 

8.1 Events of Default. The occurrence of any one or more of the following events shall be an event of default by the Seller or the Guarantor, or both,
as applicable, under this Agreement (each an “Event of Default”): 
 (a) If the Seller fails to pay (i) the repurchase
price due for a Purchased Orbital Receivable to be repurchased by the Seller pursuant to Section 9.2 hereof, or (ii) any other amounts due from the Seller to the Purchaser hereunder, or if the Guarantor fails to pay such amounts when due
in accordance with the Guarantee, within five (5) Business Days after the date on which the Seller was obligated to pay such amount(s). 

(b) If any court makes any judgment or order, or any law, ordinance, decree or regulation is enacted, the effect of which is to make this
Agreement, or any material provision hereof, invalid or unenforceable, and both the Seller and the Guarantor fail to provide acceptable replacement documents to the Purchaser within fifteen (15) days of such event; or if, for any other reason,
it becomes unlawful for either of the Seller or the Guarantor, or both, to perform any of their obligations under this Agreement or if any of their obligations under this Agreement cease to be valid, binding or enforceable; or if it becomes unlawful
for an Obligor to repay the amount due under any Purchased Orbital Receivable. 

  
 17 

 (c) If any representation or warranty made or deemed to have been made by the Seller or the
Guarantor, or both, hereunder or in connection with this Agreement, or any other information supplied by the Seller or the Guarantor, or both, to the Purchaser hereunder or in connection herewith proves to have been false, incorrect, incomplete or
misleading in any material respect when made or repeated or deemed to be made or repeated. 
 (d) If either of the Seller or the Guarantor,
or both, fail to observe or perform any term, covenant or agreement herein or under a Transaction Document to which it is a party on its part to be observed or performed including, in the case of the Guarantor, the Guarantee, and, if such failure is
capable of being remedied, such failure remains unremedied for thirty (30) days after such failure to observe or perform, except in the event of the failure by the Servicer to transfer amounts in accordance with Section 5.2(a), in which
case such failure remains unremedied for five (5) Business Days. 
 (e) If an event of Bankruptcy occurs with respect to either the
Seller or the Guarantor or both. 
 (f) [not used.] 

(g) If a Material Adverse Change occurs. 

(h) If there is a Change of Control with respect to either of the Seller or the Guarantor, or both. 

8.2 Remedies for Events of Default. If there is an Event of Default the Purchaser is entitled to exercise, at its option, the remedies set forth in
either Section 9.2 or Section 9.3 hereof, or both where applicable. 
 SECTION 9 – THE PURCHASER’S REMEDIES WITH
RESPECT TO PURCHASED ORBITAL RECEIVABLES 
 9.1 Purchaser as
Attorney-in-Fact; Direct Payment Notice. The Seller hereby appoints the Purchaser as its
attorney-in-fact, which appointment is irrevocable and coupled with an interest, with full power of substitution, to do, make, sign, execute and deliver all such
statements, assignments, documents, instruments, acts, matters and things, as the Seller has agreed by these presents to do and has failed so to do where required by this Agreement or as may be required by the Purchaser to give effect to this
Agreement including, without limitation, to receive, endorse and collect all checks, drafts and other instruments for the payment of money which may be received as payment on account or otherwise in respect of a Purchased Orbital Receivable. The
Seller hereby unconditionally and irrevocably consents to the Purchaser’s sending a Direct Payment Notice to any Obligor with respect to a Purchased Orbital Receivable and to such Obligor’s payment in accordance with such Direct Payment
Notice, upon the terms and subject to the conditions of this Agreement and the other Transaction Documents. 

  
 18 

 9.2 Repurchase of Orbital Receivables. In the event that any Repurchase Event or, at the option of the
Purchaser, in the event that any Event of Default shall have occurred, or where the Seller, the Guarantor or an Obligor with respect to one or more Purchased Orbital Receivables has been convicted under an Anti-Corruption Law in connection with a
Purchased Orbital Receivable, the Seller shall, within five (5) days of demand by the Purchaser, (a) where there has been a Repurchase Event, repurchase the Purchased Orbital Receivables with respect to which there has been a Repurchase
Event, and (b) where there has been an Event of Default, or where the Seller, the Guarantor or any Obligor with respect to a Purchased Orbital Receivable has been convicted under an Anti-Corruption Law in connection with a Purchased Orbital
Receivable, repurchase all of the outstanding Purchased Orbital Receivables (in the case of an Obligor that has been convicted under an Anti-Corruption Law, only the Purchased Orbital Receivables owed by such Obligor), by the Seller’s payment
to the Purchaser of the Net Present Value of each such Purchased Orbital Receivable, subject to any settlement, adjustment or forgiveness by the Purchaser in accordance with Section 2.4, provided that the Seller shall not be entitled to any
benefit of a settlement, adjustment or forgiveness by the Purchaser that was caused by the Seller’s breach of a provision of this Agreement. 
 Upon
the Purchaser’s receipt of the full amounts thereof, the Purchaser will be deemed to have assigned to the Seller all of the Purchaser’s rights and interest in and to the repurchased Orbital Receivables, without any representation or
warranty other than the representation that the repurchased Orbital Receivables are free and clear of any Adverse Claim created or granted by or arising through the Purchaser, and without recourse (except as to the aforementioned representation).
The Purchaser shall, upon the request of the Seller but at the Seller’s cost, execute and deliver to the Seller such documents and deeds as are needed or as the Seller may reasonably request to effectuate the assignment of the Purchaser’s
rights and claims in and to the repurchased Orbital Receivables. 
 9.3 Damages for Event of Default; Failure of Further Condition Precedent.
Notwithstanding whether the Purchaser has elected to exercise its rights under Section 9.2 hereof with respect to an Event of Default, if an Event of Default has occurred, the Purchaser may pursue all other remedies available to it at law
(including, without limitation, any remedies available as a matter of contract law); provided that (i) any recovery under any other such remedy shall reflect (as a reduction thereof) any amount previously paid to the Purchaser in respect of the
same Event of Default pursuant to the exercise by the Purchaser of its rights under Section 9.2; and (ii) in no event shall any party be liable to any other party for any special, indirect, consequential (including, without limitation,
loss of profits) or punitive damages or losses. 
 In the event that, following the acceptance by the Purchaser of a Letter of Offer pursuant to and in
accordance with Section 2.2 hereof, the Purchaser does not purchase the Orbital Receivables offered pursuant to such Letter of Offer as a result of the failure of one of the conditions to purchase set forth in either Section 4.1 or
Section 4.2 hereof, then the Seller shall promptly pay to the Purchaser (i) the Break Fee and (ii) the Participant Costs. 

  
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 SECTION 10 - DEFAULT INTEREST PAYABLE BY THE SELLER 

10.1 Default Interest (Seller). The Seller will pay default interest to the Purchaser on any amount received by the Seller from an Obligor as payment
with respect to a Purchased Orbital Receivable, which amount is not paid to the Purchaser on the due date required under this Agreement or the relevant Letter of Offer, from the date the Seller is required to pay the Purchaser to the date such
amount is paid to the Purchaser, at the rate of the aggregate of (i) in the case of United States Dollar denominated Purchased Orbital Receivables, the one (1)-month London Interbank Offered Rate for United States Dollars that appears on the
Libor01 Page as of 11:00 a.m., London time, two (2) Business Days before the date of default, OR in the case of Canadian Dollar denominated Purchased Orbital Receivables, the
CAD-BA-CDOR rate appearing on the Reuters Screen CDOR Page as of 11:00 a.m., Ottawa time, two (2) Business Days before the date of default, (ii) the relevant
Margin, and (iii) two percent (2%) per annum. 
 SECTION 11 - ENFORCEMENT BY THE PURCHASER 

11.1 Enforcement. (a) In the event that the Servicer does not receive payment when due in respect of a Purchased Orbital Receivable, the Servicer
shall so indicate in the following Settlement Report and provide any reasonably available information regarding the financial circumstances of such Obligor and the steps being taken by the Servicer to mitigate such delinquency, default or financial
circumstances. At the request of either the Purchaser or the Seller, the Purchaser and the Seller shall then liaise in order to determine the appropriate action (if any) to be taken in order to protect the interests of the Purchaser as owner of the
relevant Purchased Orbital Receivables and the interests of the Seller as party to the relevant Satellite Contract and (as applicable) owner of other Orbital Receivables. Provided that the parties have not determined in accordance with Section
2.5(b) hereof that the failure to pay such payment when due was caused by Bankruptcy of the relevant Obligor, then the Purchaser, as owner of such Purchased Orbital Receivable, may request that various actions be taken in order to protect the
Purchaser’s interests as owner of the relevant Purchased Orbital Receivables and, if (i) any such action is requested and not taken by the Seller by the time requested by the Purchaser, and (ii) the Purchaser has determined, and
advised the Seller, that such action is necessary to avoid any material adverse effect on the enforceability or collectability of any such Purchased Orbital Receivable, then the Purchaser may take such action as owner thereof, which action may
include (1) issuing any late payment notices to the Obligor, (2) making demand, adjusting or forgiving, any amounts payable on such Purchased Orbital Receivable, (3) undertaking other collection efforts (including, without limitation,
legal proceedings to realize upon the Purchased Orbital Receivable, and (4) taking any lawful action it may deem advisable to protect or enforce its rights and remedies with respect to such Purchased Orbital Receivable. 

  
 20 

 (b) Notwithstanding subsection (a) of this Section 11.1, if the parties determine in accordance with
Section 2.5(b) hereof that any failure by an Obligor to make a payment required under a Purchased Orbital Receivable when due was attributable to Bankruptcy in respect of the relevant Obligor, then: 

 

	 	(i)	with respect to any such failure that occurred not more than forty-five (45) days prior to the date of determination, the Purchaser shall repay to the Seller all payments made to the Purchaser under Section
2.5(a)(ii) hereof on account of each such failure; and 

  

	 	(ii)	the Purchaser may direct the Seller to take such actions as are determined by the Purchaser, acting reasonably, to be necessary in order to protect the Purchaser’s interests as owner of the relevant Purchased
Orbital Receivables and to avoid any material adverse effect on the enforceability or collectability of any such Purchased Orbital Receivable and, if any such action is not taken by the Seller by the time specified in such direction by the
Purchaser, then the Purchaser may take such action based on its rights as owner thereof. 

 (c) As an over-riding principle and subject to the
provisions of subsection (b) above, the parties hereto agree that all enforcement actions that they may respectively take regarding Purchased Orbital Receivables shall have due regard to their respective interests as referred to in subsection
(a) above and, to the extent reasonably practicable in the circumstances, shall be conducted in a cooperative and consultative manner. The parties acknowledge and agree that their intent as expressed herein, and the purpose of the transactions
contemplated hereby, is to transfer ownership of the Purchased Orbital Receivables to the Purchaser in return for the payment of the Purchase Price applicable to such Purchased Orbital Receivables, and that neither this Agreement as a whole nor any
provision hereof may be construed to deprive the Purchaser of any right that arises from its status as beneficial and legal owner of the Purchased Orbital Receivables. In furtherance thereof, but subject to the first sentence of this Section
11.1(c): 
 (i) the Seller hereby agrees that, until all Purchased Orbital Receivables have been repaid in full by the
relevant Obligor, it will, at the Purchaser’s expense, do, or permit to be done, each and every act or thing which from time to time may be required to be done at law for the purpose of enforcing the Purchaser’s rights against such Obligor
in respect of such Purchased Orbital Receivable; and 
 (ii) the Seller will cooperate with the Purchaser in connection with
the enforcement of each Purchased Orbital Receivable and, in the event of non-payment on the maturity date, take all necessary steps to exercise all rights which the Seller may have at law or under the
relevant Satellite Contract, to effect recovery in full of the unpaid balance of such Purchased Orbital Receivable and with interest thereon. 
 If the
Purchaser elects to enforce its rights and remedies against the Obligor with respect to any such Purchased Orbital Receivable through an action, claim or lawsuit in any court, administrative agency or similar tribunal, or otherwise, the Seller
acknowledges that the Purchaser will be entitled to receive a hard copy of the relevant Satellite Contract, together with all relevant amendments thereto and all records, correspondence and documents requested by the Purchaser relating to any
delinquent Purchased Orbital Receivable, all in accordance with the Document Delivery Protocol, and further agrees that the Purchaser shall be entitled to join the Seller, at the Purchaser’s expense, as a party to any proceeding relating to the
repayment of the delinquent Purchased Orbital Receivable if required to do so at law in order to enforce its rights in respect of the Purchased Orbital Receivables. 

  
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 SECTION 12 - OBLIGATIONS UNDER SATELLITE CONTRACTS 

12.1 Obligations under Satellite Contracts. Notwithstanding anything in this Agreement to the contrary, the Purchaser does not and will not assume or
be liable for any obligations whatsoever under or with respect to any Satellite Contract. The Seller shall continue to perform any and all obligations of the Seller under each Satellite Contract that relates to a Purchased Orbital Receivable,
including any obligations that relate to the technical performance of any Satellite. 
 SECTION 13 - TERMINATION 

13.1 Termination. This Agreement shall terminate automatically on the date that is seven (7) years after the date hereof, unless terminated by
either the Seller or the Purchaser before that date. Either the Seller or the Purchaser may terminate this Agreement at any time on ten (10) days written notice to the other party. In the event of termination: (a) the provisions of this
Agreement shall continue to apply to all Orbital Receivables previously purchased and not yet paid until fully paid; and (b) the Purchaser shall have no further obligation to purchase any Orbital Receivables under any outstanding Letter of
Offer or to consider any request to issue any further Letters of Offer. 
 13.2 Additional Rights. The rights of the Purchaser set out in this
Section are in addition to the rights of the Purchaser set out in Sections 2, 9 and 12. 
 13.3 Change of Control. For greater certainty and for
avoidance of doubt, in the event of any Change of Control of an Obligor under one or more Purchased Orbital Receivables, the Purchaser will immediately have no obligation whatsoever to purchase Orbital Receivables of such Obligor hereunder or under
the applicable Letter of Offer. 
 SECTION 14 - ENVIRONMENTAL REVIEW 

14.1 Environmental Review. Notwithstanding having executed a Letter of Offer, the Purchaser will not be obligated to purchase an Orbital Receivable if,
both immediately prior to and upon the purchase of an Orbital Receivable, an event or circumstance shall have occurred which has resulted in the failure by the Seller or an Obligor under such Orbital Receivable to comply in all material respects
with any applicable Environmental Laws. The Purchaser and the Seller agree that the Seller shall not be required to monitor the activities of any Obligor or conduct any investigation with respect to events or circumstances of this nature affecting
any Obligor. 

  
 22 

 SECTION 15 - MISCELLANEOUS 

15.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York. 

15.2 Successors and Assigns. This Agreement shall be binding upon and enure to the benefit of the parties hereto and their respective successors and
assigns; provided, however, that the Seller may not assign all or any portion of its respective rights or obligations hereunder or under any Purchased Orbital Receivable without the prior written consent of the Purchaser and any assignment by
the Purchaser shall be subject to Section 15.3. 
 15.3 Assignment. The Purchaser may assign any or all of its rights hereunder to any Affiliate
of the Purchaser or to any person reasonably acceptable to the Seller, and the Seller agrees to cooperate and to provide the Purchaser with any assistance reasonably requested by the Purchaser to effectuate any such assignment, transfer or sale;
provided that all costs and expenses incurred by the Seller in connection therewith shall be borne by the Purchaser; provided further that if any Obligor shall fail to pay any Purchased Orbital Receivable in the amount and at the time due and the
Seller and Guarantor shall both fail to make any required payments to the Purchaser as a consequence of such failure, the Purchaser shall have the right to assign, transfer or sell any of its rights hereunder or under any Purchased Orbital
Receivables to any Person without the Seller’s approval, acceptance or consent. 
 15.4 Language of Agreement. The parties agree that it is
their express wish that this Agreement be drawn up and signed in the English language only. 
 15.5 Counterparts. This Agreement and any Letter of
Offer may be signed by the parties hereto on separate counterpart pages, each of which will be deemed an original and all of which together will constitute one instrument. 

15.6 Entire Agreement. This Agreement including, without limitation, the Letters of Offers delivered hereunder, constitute the entire understanding
among the parties hereto with respect to the subject matter hereof and supersede any and all prior communications, agreements or understandings, written or oral, with respect thereto except any disclosure consent or
non-disclosure agreements entered into between the Purchaser and the Seller. 
 15.7 Notices. Any
communication, demand or notice to be made hereunder will be made, in writing, in the case of the Purchaser, to: 
  

			
		 	 ING Bank, N.V.
 Bijlmerplein 888

1102 MG, Amsterdam
 Netherlands

	Attn.:	 	Wim Steenbakkers
	Phone:	 	+31-20-576-8393
	Email:	 	wim.steenbakkers@ingbank.com and Execution.SF.Team3@ingbank.com

  
 23 

			
		 	 With a copy to:
  

ING Bank, N.V.
 MA I + 3 Zone Grey

Av. Marnix 24
 1000 Brussels

Belgium

	Attn.:	 	Jean-Sebastien Boreux
	Phone:	 	+ 32-2-547-33-88
	Email:	 	jeansebastien.boreux@ing.be

 in the case of the Seller, to: 

Space Systems/Loral, LLC 
 3825 Fabian Way 

Palo Alto, CA 94303-4697 
 USA 

Attn.: Michelle Kley 
 Phone: +1 – 650-852-5164 
 Email: michelle.kley@sslmda.com 

and in the case of the Guarantor, to: 
 MacDonald, Dettwiler and
Associates Ltd. 
 13800 Commerce Parkway 
 Richmond, British
Columbia V6V 2J3 
 Canada 
 Attn.:  Chris Harrison 

Phone: +1 - 604-231-2983 

Email: charrison@mdacorporation.com 
 and will be deemed to have
been made (a) in the case of any communication made by facsimile, on the first Business Day of the recipient following the day when transmission thereof is confirmed by an activity report stating the correct number of pages sent and that such
transmission transmitted error free; or (b) in the case of any communication delivered by courier, on the first Business Day of the recipient following the day when left at that address of the recipient; or (c) in the case of any
communication sent by registered mail, 10 days after being deposited in the post postage prepaid in an envelope addressed to it at that address of the recipient; or (d) in the case of any communication delivered by email, upon the
sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return email or other written acknowledgement). 

15.8 Remedies Cumulative, No Waiver. It is expressly agreed by the parties hereto that the rights and remedies of each of them under this Agreement and
any Letter of Offer are cumulative and are in addition to, and not in substitution for, any rights or remedies provided by law, but 

  
 24 

 
only to the extent provided by law. To the extent provided by law, any single or partial exercise by either party of any right or remedy for a default or breach of any term of this Agreement or
any Letter of Offer will not, and any failure to exercise or delay in exercising any such rights or remedies will not, be or be deemed to be a waiver of or to alter, affect or prejudice any other right or remedy to which such party may be lawfully
entitled for the same default or breach. Any waiver by any party of the strict observance or performance of or compliance with any term of this Agreement or any Letter of Offer will not be deemed to be a waiver of any subsequent default or breach.

 15.9 Interest Calculation. Each determination of a rate of interest by the Purchaser will be conclusive evidence in the absence of manifest error
of such rate. In respect of Canadian Dollars, interest will be calculated on the basis of the actual number of days elapsed divided by 365 and whenever interest to be paid hereunder is to be calculated on the basis of a year of 365 days, the yearly
rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by 365. In respect of
United States Dollars, interest will be calculated on the basis of the actual number of days elapsed divided by 360 and whenever interest to be paid hereunder is to be calculated on the basis of a year of 360 days, the yearly rate of interest to
which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by 360. 

15.10 Initial Costs and Expenses. The Seller will pay to the Purchaser in United States or Canadian Dollars, as invoiced by the Purchaser, the
Transaction Expenses, the Program Structuring Fee, the Transaction Fee and the reasonable fees and expenses of independent legal counsel for the Purchaser. 

15.11 Future Costs and Expenses. The Seller will pay to the Purchaser in United States or Canadian Dollars, as invoiced by the Purchaser, within thirty
(30) days of the Purchaser’s request for payment therefor, all costs and expenses incurred by the Purchaser required in connection with the preservation of rights under and enforcement of this Agreement and any Letter of Offer including,
without limitation, the fees and expenses of independent legal counsel for the Purchaser and all travel costs of the Purchaser, provided that a final non-appealable judgment in favor of the Purchaser has been
rendered in a legal proceeding relating to such preservation of rights or enforcement. In addition, the Seller will pay or cause to be paid all bank fees and permitted debits as may be charged by the account bank that has established and maintains
the Pledged Account under the Deposit Account Control Agreement and will reimburse the Purchaser and any Participant for any indemnities paid or required to be paid by the Purchaser and any Participant to the account bank pursuant to the terms of
the Deposit Account Control Agreement. 
 15.12 Amendments and Waivers. No amendment to or waiver of any provision of this Agreement or consent to
any departure by the Seller or the Purchaser therefrom shall be effective unless in writing and signed by such parties, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

  
 25 

 15.13 Severability. Any provisions of this Agreement that are prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 15.14 Headings. Section headings in this Agreement are included for
convenience of reference only and shall not affect the interpretation of any of the provisions hereof. 
 15.15 Further Assurances. The Seller shall,
at the reasonable request of the Purchaser, at any time and from time to time hereafter do, execute and deliver or cause to be done, executed and delivered, all such further acts, assignments, transfers, conveyances and documents and take all such
other actions as may be reasonably required for the purpose of giving effect to this Agreement and each of the Transaction Documents. 
 15.16 Submission
to Jurisdiction. Each party hereto hereby irrevocably and unconditionally: (a) submits for itself and its property in any legal action or proceeding relating to this Agreement, or for recognition and enforcement of any judgment in respect
thereof, to the general jurisdiction of the Courts of the State of New York in the Borough of Manhattan, City of New York, the Courts of the United States of America for the Southern District of New York, and appellate courts from any thereof and to
the courts of its own corporate domicile in respect of any actions brought against it as a defendant in any action or proceeding arising out of this Agreement; and (b) consents that any such action or proceeding may be brought in such courts
and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same and waives
any other jurisdiction to which it may otherwise be entitled by reason of its present or future domicile or otherwise. 
 [signature page
follows] 

  
 26 

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

Signature: /s/ John Celli 
 (Print Name): John Celli 

                       President 

ING BANK, N.V. 
 Signature: /s/ Wim Steenbakkers 

(Print Name): Wim Steenbakkers 

                       Managing Director

 Signature: 
 (Print Name): 

MACDONALD, DETTWILER AND ASSOCIATES LTD. as Guarantor 

Signature: /s/ Anil Wirasekara 
 (Print Name): Anil Wirasekara

  

SIGNATURE PAGE TO RECEIVABLES PURCHASE AGREEMENT

 SCHEDULE 1.1 

DEFINED TERMS 
 1.1 Certain Defined Terms.
In this Agreement, the following terms shall have the following meanings: 
 “Adverse Claim” means a mortgage, lien, pledge, security
interest, encumbrance or other right, claim or interest (howsoever arising) of any Person; 
 “Affiliate” means, with respect to a Person,
another Person that owns, is owned by or is under common ownership with, such Person; 
 “Agency Account” means an account to be created by
the Purchaser and notified to the Seller for purposes of receiving proceeds, as agent, from the Pledged Account in accordance with the terms of this Agreement; 

“Agency Fee Letter” means the fee letter, dated September 16, 2016, between the Purchaser and the Seller, setting forth the fees for the
services of the Purchaser in its capacity as security agent; 
 “Agreement” means this Receivables Purchase Agreement together with all
Exhibits hereto and the Letters of Offer delivered hereunder from time to time, as amended, supplemented or restated from time to time; 

“Anti-Corruption Laws” means the Foreign Corrupt Practices Act (United States) the Corruption of Foreign Public Officials Act (Canada)
and any other similar laws of any jurisdiction relating to corruption and bribery; 
 “Authorization” means any consent, registration,
filing, agreement, certificate, license, approval, permit, authority or exemption from, by or with any Governmental Authority and all corporate, creditors’ and shareholders’ approvals or consents; 

“Bankruptcy” means, with respect to a Person, that such Person: (1) is dissolved (other than pursuant to a consolidation, amalgamation
or merger); (2) becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due; (3) makes a general assignment, arrangement or composition with or for the benefit
of its creditors; (4) (A) institutes or has instituted against it, by a regulator, supervisor or any similar official with primary insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or
organization or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition
is presented for its winding-up or liquidation by it or such regulator, supervisor or similar official, or (B) has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any
other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding up or liquidation, and such proceeding or petition is instituted or presented by a Person or entity
not described in clause (A) above and either (i) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making 

 
of any order for its winding-up or liquidation or (ii) is not dismissed, discharged, stayed or restrained in each case within fifteen (15) days
of the institution or presentation thereof; (5) has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger);
(6) seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets; (7) has a secured party
take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains
possession, or any such process is not dismissed, discharged, stayed or restrained, in each case within thirty (30) days thereafter; (8) causes or is subject to any event with respect to it that, under the applicable laws of any
jurisdiction, has an analogous effect to any of the events specified in clauses (1) to (7) (inclusive); or (9) takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing
acts; 
 “Beneficial Owner” means the Purchaser, any Participant and any assignee of an interest in a Purchased Orbital Receivable or in an
interest in amounts payable hereunder in respect of a Purchased Orbital Receivable; 
 “Break Fee” means the amount to be paid by the
Seller to the Purchaser pursuant to the second paragraph of Section 9.3 hereof in the event that a sale is not consummated as a result of the failure of a condition contained in Section 4.2 hereof, equal to the greater of either
(i) USD 0 or (ii) the difference between (x) the Purchase Price as determined on the day the original Fixed Rate was set minus (y) the Purchase Price if the Fixed Rate had been set on the day in which it was established that one
or more of the conditions to purchase under Section 4.2 hereof were not met, where the day referred to in (y) of this definition is determined by reasonable agreement of the Seller and Purchaser and occurs no later than the Purchase Date
proposed in the applicable Letter of Offer; 
 “Business Day” means a day on which banks are open for business in the City of New York,
USA, Toronto, Canada, Vancouver, Canada, Palo Alto, USA and Amsterdam, Netherlands; 
 “Canadian Dollars” and “CAD” each
means the lawful currency of Canada; 

“CAD-BA-CDOR” means, as of a date of
determination, the rate per annum determined as of 10:00 a.m., Toronto time, on the day of such determination, as the average rate for Canadian Dollar bankers’ acceptances quoted on the Reuters Screen CDOR Page by the banks used as
reference banks for such service for six-month periods. If CAD-BA-CDOR does not appear on the Reuters Screen CDOR Page on the day
of determination, the rate will be determined as if the parties had specified “CAD-BA-Reference Rate” as the applicable rate; 

“CAD-BA-Reference Rate” means, as of a date of determination,
the rate per annum determined as of 10:00 a.m., Toronto time, on the date of determination on the basis of the average (rounded upwards to the nearest 1/16th of one percent) of the bid rates of Bank of Montreal, Canadian Imperial Bank of
Commerce, Royal Bank of Canada and The Toronto-Dominion Bank for Canadian Dollar bankers’ acceptances for six-month periods. If applicable, the Purchaser will
request the principal Toronto office of each bank to provide a quotation of its rate; 

  
 - 2 - 

 “Change in Law” means the occurrence, after the applicable date, of any of the following:
(i) the adoption or taking effect of any law, rule, regulation or treaty; or (ii) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority; 

“Change of Control” means any change in the Control of a Person or of a Satellite, as applicable; 

“Code” means the Internal Revenue Code of 1986, as amended; 

“Collection Account” means each bank account of the Seller into which Obligors pay funds, including amounts due in respect of Purchased
Orbital Receivables, except as otherwise provided in this Agreement; 
 “Collections Schedule” means the schedule, attached to each Letter
of Offer, setting forth the amounts and dates due of each payment from an Obligor under an Orbital Receivable offered for purchase under such Letter of Offer, and not reflecting any variable amounts due from an Obligor as a result of the technical
over-performance of any Satellite occurring at any time or underperformance of any Satellite occurring after purchase of such Orbital Receivable; 

“Control” means either: 
  

	 	i.	with respect to a company, the ownership of more than fifty percent (50%) of the Voting Shares of such company or the ability, direct or indirect, to direct or cause the direction of management or policies of such
company, whether through ownership of Voting Shares by contract or otherwise, and “Controlling” and “Controlled” have correlative meanings; or 

 

	 	ii.	with respect to a Satellite, legal ownership of such Satellite; 

 “Credit and Collection
Procedures” means the credit and collection procedures of the Seller as in place on the date hereof, and attached hereto as Schedule 1.2; 

“Default” means an Event of Default or an event that, with notice or lapse of time, or both, would, unless cured, become an Event of Default;

 “Deposit Account Control Agreement” means the deposit account control agreement, dated on or about the date hereof, among the Seller,
the Purchaser and Bank of America, N.A., as account bank; 
 “Dilution” means either: 

i. with respect to any Purchased Orbital Receivable, allowed reductions for such Purchased Orbital Receivable known as of the
relevant Purchase Date and contractually limited and applying at the time that such Purchased Orbital Receivable arises; or 

ii. any reduction or cancellation, in whole or in part, of the Face Value of any Purchased Orbital Receivable by reason of the
occurrence of any of the following circumstances: 
 (a) any credit note, rebate, discount or allowances for prompt payment,
for quantity, for return of goods or as fidelity or relationship premium, invoicing error or cancellation or any other commercial adjustment, granted by the Seller in accordance with the Credit and Collection Procedures; 

  
 - 3 - 

 (b) any change in the terms or cancellation of a contract under which such
Purchased Orbital Receivable arises that reduces the amount payable by the relevant Obligor; 
 (c) any setoff exercised by
the relevant Obligor in respect of any claim by such Obligor as to amounts owed by it on such Purchased Orbital Receivable (whether such claim arises out of the same or a related transaction or an unrelated transaction, and whether agreed by the
Seller or arising by operation of law); 
 (d) any specifically asserted dispute, counterclaim or defense whatsoever,
including without limitation any non-payment by the relevant Obligor due to failure by the Seller to deliver any merchandise or provide any services (excluding, for the avoidance of doubt, any dispute
resulting from non-payment of such Obligor due to the Obligor’s Bankruptcy); 

(e) any amounts being deducted by the relevant Obligor or the Seller due to any Tax imposed by way of withholding or deduction
on the payments to be made by such Obligor to the Seller in its role as Servicer; 
 (f) any recourse or claim of any third
party exercised with respect to such Purchased Orbital Receivable; 
 (g) with respect to a Purchased Orbital Receivable in
respect of which a Bankruptcy of the relevant Obligor has occurred, any expenses saved by the Seller by the non-payment of agent’s commission, non-fulfilment of the
relevant contract or otherwise; and 
 (h) with respect to a Purchased Orbital Receivable in respect of which a Bankruptcy
of the relevant Obligor has occurred, any sales, VAT or other Taxes saved by the Seller due to the non-payment of that Purchased Orbital Receivable; 

“Direct Payment Event” means any of the following: 

i. an Event of Default exists with respect to the Guarantor under the Guarantee or any financing of the Guarantor, whether now existing or
entered into in the future, 
 ii. an Event of Default (or similar circumstance) exists with respect to the Seller under any other
Transaction Document or any financing of the Seller, whether now existing or entered into in the future, 
 iii. a breach of a covenant with
respect to any financial ratio, including the financial ratios set forth below, exists with respect to the Guarantor under any 

  
 - 4 - 

 
financing of the Guarantor, whether now existing or entered into in the future, provided, that in the event that any covenant with respect to a financial ratio under a financing of the
Guarantor is revised or amended then this prong iii of this definition shall be deemed to refer to the version of such covenant, whenever in effect, that is or was most restrictive on the Guarantor: 

 

	 	(a)	the ratio of Consolidated Debt to EBITDA not to exceed 3.5:1 

  

	 	(b)	the ratio of Adjusted EBITDA to LTM Fixed Charges not to be less than 1.5:1; and 

  

	 	(c)	Equity not to fall below the sum of (i) C$185 million, (ii) 50% of positive consolidated net income of the Guarantor for each Financial Quarter from and including the Financial Quarter ending
September 30, 2011, and (iii) 100% of the proceeds (net of customary transaction costs) from the treasury issue of equity securities by the Guarantor, in each case calculated as at the end of each Financial Quarter on the basis of the Financial
Quarter then ended; 

 in each case calculated as at the end of each Financial Quarter on the basis of the four Financial
Quarters then ended, and otherwise calculated in the manner set forth in the third amended and restated credit agreement dated for reference November 2, 2012 (the “Credit Agreement”) among the Guarantor as borrower, Royal Bank
of Canada as administrative agent, and the lenders signatory thereto as lenders. Terms used in this paragraph (iii) without definition have the meaning set forth in the Credit Agreement. 

iv. a breach of any covenant with respect to a financial ratio exists with respect to the Seller under any financing entered by the Seller,
whether now existing or entered into the future, provided, that in the event that any covenant with respect to a financial ratio under a financing of the Seller is revised or amended then this prong iv of this definition shall be deemed to
refer to the version of such covenant, whenever in effect, that is or was most restrictive on the Seller; 
 “Direct Payment Notice” has
the meaning set forth in Section 5.2(b); 
 “Discount Factor” means, with respect to an Orbital Receivable, the sum of the Fixed Rate
applicable to such Orbital Receivable plus the Margin applicable to such Orbital Receivable; 
 “Discount Factor Adjusted” means, with
respect to an Orbital Receivable at time ***, the sum of *** plus ***; 
 “Document Delivery Protocol” means the protocol governing when
the Purchaser may demand, and the Seller must deliver, a physical copy of a Satellite Contract, as set forth in Exhibit E hereto; 
 “Eligible
Receivable” means an Orbital Receivable that: 
  

	 	i.	relates to a Satellite that ***; 

  
 - 5 - 

	 	ii.	is or will in the ordinary course become outstanding as to an Obligor and has been originated by the Seller in the ordinary course of business; 

 

	 	iii.	arises under a Satellite Contract governed by the law of the ***, or the law of another jurisdiction acceptable to the Purchaser in its sole discretion; 

 

	 	iv.	is payable over a period of ***; 

  

	 	v.	is denominated in euros, United States Dollars, Canadian Dollars or any other convertible currency acceptable to the Purchaser in its sole discretion; 

 

	 	vi.	arises under a Satellite Contract under which ***; 

  

	 	vii.	is freely assignable by the Seller ***; 

  

	 	viii.	arises under terms ***; 

  

	 	ix.	arises under a Satellite Contract that ***; 

  

	 	x.	is due from an Obligor that is not an entity subject to Sanctions imposed by Canada, the European Union or by the Office of Foreign Assets Control of the United States government; and 

 

	 	xi.	has been the subject of due diligence as to the underlying Satellite and Satellite Contract and indicated by the Purchaser to the Seller to be satisfactory to the Purchaser; 

“Environmental Laws” means all requirements under any law, rule, regulation, order, or judgment, decree, license, agreement or other
restriction of any Governmental Authority relating to pollution, contamination, or the disposal, storage, or discharge of hazardous materials or toxic substances, or the treatment thereof, or the protection of the environment; 

“Event of Default” has the meaning set forth in Section 8; 

“Face Value” means, with respect to an Orbital Receivable, the amount of each scheduled periodic payment (including scheduled interest) to be
paid by the Obligor with respect to such Orbital Receivable in accordance with the relevant Satellite Contract and as set forth in the relevant Collections Schedule; 

“Fee Letter” means the fee letter, dated September 16, 2016, between the Purchaser and the Seller, setting forth, among other things,
the Program Structuring Fee; 
 “Fixed Rate” means, with respect to the purchase of an Orbital Receivable, the average interest rate per
year for all payments in the period from the Purchase Date until the Maturity Date as set forth in the relevant Collection Schedule, to be agreed between the Seller and the Purchaser two (2) Business Days preceding the Purchase Date; 

“Fixed Rate Adjusted” means, ***, the lower of (i) *** and (ii) ***, as determined by ***; 

“Governmental Authority” means any nation, government, branch of power (whether executive, legislative or judicial), state or
municipality or other political subdivision thereof and any entity exercising executive, legislative, judicial, monetary, regulatory or administrative functions of or pertaining to government; 

  
 - 6 - 

 “Guarantee” means the guarantee, dated as of the date hereof by the Guarantor for the benefit of
the Purchaser and any Participants, unconditionally guaranteeing performance and payment obligations of each of the Seller and the Servicer under this Agreement in form and substance and on terms and conditions and acceptable to the Purchaser and
any Participants; 
 “Guarantor” means MacDonald, Dettwiler and Associates Ltd., a corporation formed under the federal laws of Canada, in
its role as guarantor under the Guarantee; 
 “Indemnified Taxes” means Taxes with respect to a Person other than: 

i. taxes imposed on (or measured by) the Person’s net income or franchise taxes imposed in lieu thereof, by the jurisdiction (and any
political subdivision thereof) under the laws of which such Person is organized, in which its principal office is located, or in which it legally holds Purchased Orbital Receivables, 

ii. any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction (and any political subdivision
thereof) in which the Person is located (other than any such jurisdiction in which any such Person is treated as located as a result of its participation in the transactions contemplated by this Agreement), 

iii. any withholding tax or backup withholding tax imposed on a transferee or assignee of the Initial Participant under applicable law in
effect at the time of such transfer or assignment, except to the extent that the withholding tax or backup withholding tax would have been imposed on payments to the transferor or assignor had such Person not assigned or participated an interest in
the Purchased Orbital Receivable, 
 iv. [not used], 

v. any withholding tax or backup withholding tax attributable to the Person’s failure to comply with Section 5.5(c), Section 5.5(d)
or Section 5.5(e), and 
 vi. U.S. federal withholding Taxes imposed by Sections 1471 through 1474 of the Code and any current or future
regulations or official interpretations thereof; 
 “Initial Participant” means the Participant that is entering into the Participation
Agreement with the Purchaser on the date hereof; 
 “Initial Purchase” means the purchase of the Orbital Receivables listed on Schedule 1.2
hereto in accordance with the terms of this Agreement; 
 “Intercreditor Agreement” means the intercreditor agreement, dated as of the date
hereof, by and among Royal Bank of Canada in capacity as collateral agent under the MDA Intercreditor Agreement (as therein defined), the Seller, the Guarantor and the Purchaser; 

  
 - 7 - 

 “Interparticipant Agreement” means the interparticipant agreement, dated as of the date hereof,
by and between the Purchaser, as servicer and participant, and the Initial Participant, as participant; 
 “IOT Completion Certificate”
means a certificate issued by the Seller pursuant to a Satellite Contract, certifying that such Satellite has successfully passed the performance tests required by such Satellite Contract, and is accordingly eligible for acceptance by the purchaser
of such Satellite; 
 “Letter of Acknowledgement and Consent” means the acknowledgement and consent from each Obligor under Purchased
Orbital Receivables, in the form of Exhibit D, following delivery by the Seller to each such Obligor together with a letter in the form of Exhibit C hereto; 

“Letter of Offer” means, with a written offer by the Seller to the Purchaser of one or more Orbital Receivables for purchase, satisfying the
requirements of Section 2.2, in the form of Exhibit A; 
 “LIBOR01 Page” means the display of interest rates for United States Dollar
deposits in the London inter-bank market published by ICE Benchmark Administration Limited (ICE) or any successor to, or substitute for, such service providing rate quotations for interest rates for United States Dollar deposits in the London
interbank market comparable to those currently provided by ICE, as determined by the Purchaser from time to time; 
 “Margin” means, with
respect to the purchase of an Orbital Receivable, the margin per year for such Orbital Receivable as specified by the Purchaser and identified in the countersigned version of the relevant Letter of Offer in respect of the Orbital Receivables
referred to therein; 
 “Material Adverse Change” means a change or event which, in the Purchaser’s reasonable determination, has or
will have a material adverse effect on the condition, financial or otherwise, earnings, operations, assets, business affairs or business prospects of the Seller, the Guarantor or an Obligor named in a Letter of Offer, including a Change of Control
with respect to any of the foregoing parties; 
 “Maturity Date” means with respect to (x) any Orbital Receivable, the scheduled due
date for the final payment in respect of such Orbital Receivable to be made by the relevant Obligor to the Seller with respect to such Orbital Receivable, and (y) any Purchased Orbital Receivable, the scheduled due date for the final payment in
respect of such Purchased Orbital Receivable to be made by the relevant Obligor to the Seller with respect to such Purchased Orbital Receivable; 

“Net Present Value” means, with respect to a Purchased Orbital Receivable in the event of a prepayment or Repurchase Event, the amount to be
paid to the Purchaser by the Seller and/or Obligor, to be calculated as follows: 
 ***; 

“Obligor” means a purchaser of one or more Satellites from the Seller, and as such the obligor in respect of one or more Orbital Receivables,
as confirmed in a Letter of Offer; 

  
 - 8 - 

 “Obligor Notification” has the meaning ascribed to it in Section 4.1(b) and shall be in the
form of Exhibit B hereto; 
 “Orbital Receivables” means the obligation of an Obligor to pay, over a period of time, in accordance with the
terms of a Satellite Contract, a portion of the purchase price of the Satellite purchased under such Satellite Contract, together with interest on such amount as determined by the terms of such Satellite Contract, and based on the performance of
such Satellite in conformity with the terms of such Satellite Contract; 
 “Participant” means any Person acquiring a participation in the
interests of the Purchaser (or any assignee of the Purchaser) in a Purchased Orbital Receivable or its interests under this Agreement; 

“Participant Costs” means the actual demonstrated cost to the Purchaser and the Initial Participant, arising out of the transfer of funds
required by the Purchaser to pay the Purchase Price under Section 2.3 hereof, and required by the Initial Participant to pay the Purchaser under Section 2.1 of the Participation Agreement, including out-of-pocket fees and any interest lost as a result of such procedures, such interest to be calculated over the time period between the transfer of such funds and the time when all funds (including accrued
interest) have been remitted to the Purchaser; 
 “Participation Agreement” means that certain participation agreement, dated as of the
date hereof, between the Purchaser and the Initial Participant; 
 “Pay Out Date” means, for any Orbital Receivable, the scheduled due date
for each individual payment as set out in the Collection Schedule, falling on the 5th Business Day of each month; 

“Permitted Liens” means: 
  

	 	(i)	any lien or encumbrance pursuant to a Transaction Document or the due performance thereof, 

  

	 	(ii)	liens for ad valorem property taxes not yet due or liens for taxes which are being contested in good faith and by appropriate proceedings diligently conducted (which proceedings have the effect of preventing the
forfeiture or sale of the property or assets subject to any such lien), if adequate reserves with respect thereto are maintained on the books of the Seller in accordance with GAAP; and 

 

	 	(iii)	any right or refund, set-off or charge-back available to any bank or other financial institution; 

“Person” means any individual, corporation, limited liability company, voluntary association, partnership, joint venture, trust or government
(or any agency or political subdivision thereof); 
 “Pledged Account” means an account to be created by the Seller and made subject to a
first priority security interest in favor of the Purchaser, in accordance with the terms of this Agreement and of the Security Agreement; 

  
 - 9 - 

 “Program Structuring Fee” means the amount due under the Fee Letter; 

“Purchase Date” means, for any Orbital Receivable, the date on which such Orbital Receivable is purchased hereunder and under the relevant
Letter of Offer; 
 “Purchase Price” means, with respect to an Orbital Receivable, the amount to be paid by the Purchaser for an Orbital
Receivable, to be calculated as follows: 
 ***; 

“Purchased Orbital Receivable” means an Eligible Receivable purchased by the Purchaser for a Purchase Price determined hereunder and
otherwise in accordance with the terms hereof and the relevant Letter of Offer; 
 “Reference Banks” means Bank of Montreal, Canadian
Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank; 
 “Repurchase Date” means each date on which any Purchased
Orbital Receivable is repurchased by the Seller hereunder, which shall fall on a Business Day; 
 “Repurchase Event” means that, with
respect to one or more Purchased Orbital Receivables, 
  

	 	(a)	such Purchased Orbital Receivables become illegal, unlawful or unenforceable against the relevant Obligor, 

  

	 	(b)	the commencement of any dispute proceedings, litigation, arbitration or claim of any nature relating to such Purchased Orbital Receivables, except for any such matter reasonably considered to be frivolous, vexatious or
otherwise not likely to give rise to a Material Adverse Change as demonstrated to the Purchaser’s reasonable satisfaction, 

  

	 	(c)	any setoff, withholding or deduction by any Obligor relating to any such Purchased Orbital Receivable arising from the Satellite Contract that gives rise to the Purchased Orbital Receivable or any other sale and
purchase transaction between the Seller and such Obligor, unless such setoff is made whole by the Seller on or before the date when the payment of such setoff amount would otherwise be due hereunder, 

 

	 	(d)	the transfer by the Seller of any interest in any such Purchased Orbital Receivables to any third party other than the Purchaser, 

  

	 	(e)	the failure by the Seller to comply with any applicable law, rule or regulation with respect to any such Purchased Orbital Receivables or the documentation related thereto, or the nonconformity of any such Purchased
Orbital Receivable or the documentation related thereto with any other applicable law, rule or regulation, 

  

	 	(f)	the failure of the Seller to vest and maintain vested in the Purchaser an ownership interest in such Purchased Orbital Receivables free and clear of any adverse claim, lien or encumbrance other than Permitted Liens,

  

	 	(g)	the failure, whenever discovered, of any condition precedent of Section 4.1 or Section 4.2, to have been satisfied prior to the purchase of any such Orbital Receivables; 

 

	 	(h)	the amendment, cancellation or termination of the Satellite Contract under which any such Purchased Orbital Receivable arises, except as permitted by Section 7.1(b), 

 

	 	(i)	a Change of Control with respect to the Seller, the Guarantor or any Obligor, and 

  

	 	(j)	at any time after purchase, such Purchase Orbital Receivable ceases to be an Eligible Receivable; 

  
 - 10 - 

 “Reuters Screen CDOR Page” means the display designated as page “CDOR” on the Reuter
Monitor Money Rates Services (or such other page as may replace the CDOR page on that service for the purpose of displaying the Canadian Dollars bankers’ acceptances); 

“Sanctions” means any trade, economic or financial sanctions laws, regulations, embargoes or restrictive measures administered, enacted or
enforced by any Sanctions Authority including without limitation (i) the Office of Foreign Assets Control (United States) or the U.S. State Department, (ii) the government of Canada, including Canadian entities charged with
enforcing laws regarding sanctions and export controls (all such applicable laws currently in effect, all such new applicable laws in effect in the future or each as amended from time to time), such as the United Nations Act, Special Economic
Measures Act, Export and Import Permits Act, Freezing Assets of Foreign Corrupt Officials Act, Criminal Code, Defense Production Act, Proceeds of Crime (Money Laundering) and Terrorist Financing Act, Anti-Terrorism Act or any other similar Canadian
statute or regulation, (iii) the United Nations Security Council (iv) the European Union, including its member states or (v) any (other) relevant governmental or regulatory authority, institution or agency which administers economic
or financial sanctions, or any restriction on the Purchaser’s or any Participant’s ability to conduct business with any Person in any country relevant to the transaction contemplated hereby pursuant to any such laws; 

“Sanctions Authority” means (a) Canada, (b) United Nations, (c) United States, (d) the European Union, or the respective
governmental institutions, agencies and subdivisions of any of the foregoing; 
 “Satellite” means a satellite constructed by the Seller in
accordance with a Satellite Contract and in respect of which the Obligor under such Satellite Contract is required to pay Orbital Receivables; 

“Satellite Contract” means a satellite purchase agreement between the Seller and an Obligor pursuant to which the Seller is entitled to
Orbital Receivables, whether unconditionally or upon the satisfaction of one or more conditions, as the case may be; 
 “Security
Agreement” means the security agreement, dated as of the date hereof between the Seller, as account holder, and the Purchaser, as security agent; 

“Seller” means Space Systems/Loral, LLC, in its role as seller of Orbital Receivables under this Agreement; 

“Servicer” means Space Systems/Loral, LLC, in its role as servicer under this Agreement; 

“Settlement Report” means, with respect to the month in which such Settlement Report is delivered to the Purchaser in accordance with
Section 5.3 of this Agreement, a report setting forth all activity with respect to the Pledged Account or any payments by any Obligor in respect of any Purchased Orbital Receivable, including any purchases of Orbital Receivables occurring

  
 - 11 - 

 
since the most recent Settlement Report, notes or new information regarding credit granted to an Obligor, new information regarding any Obligor delinquency or default (and, in such case, any
reasonably available information regarding the financial circumstances of such Obligor and the steps being taken by the Servicer to mitigate such delinquency, default or financial circumstances), any write-off
or offset payable and such other matters that can be identified by due diligence on the part of the Seller acting as Servicer and that are relevant to the Purchaser’s knowledge of the nature and condition of each Purchased Orbital Receivable,
as well as the amount expected to be received into the Pledged Account in respect of Purchased Orbital Receivables in such month; 

“Taxes” means all present or future taxes of any kind or nature whatsoever including, without limitation, income taxes, sales or value-added
taxes, goods and services taxes, stamp taxes, levies, duties, fees, royalties and all deductions and withholdings therefrom together with any fines, penalties and interest thereon and any restrictions or conditions resulting in an obligation to pay
monies to a Governmental Authority; 
 “Technical Failure” means the technical failure of a Satellite to perform in conformity with the
terms of a Satellite Contract or any other similar event, condition or right thereunder whereby the Obligor under such Satellite Contract is excused from paying, in whole or in part, Orbital Receivables thereunder; 

“Transaction Documents” means this Agreement, the Guarantee, the Security Agreement, the Deposit Account Control Agreement, the Intercreditor
Agreement, the Interparticipant Agreement, the Participation Agreement, the Fee Letter, the Agency Fee Letter, each Letter of Offer issued under the terms of this Agreement, the Satellite Contracts and any other document designated as
“Transaction Document” by the parties hereto; 
 “Transaction Expenses” means all reasonable and documented costs, expenses and
fees of the Purchaser in connection with the preparation, negotiation and execution of this Agreement, the other Transaction Documents and the transactions contemplated hereby and thereby including reasonable legal fees, costs and expenses; 

“Transaction Fee” means a fee to be paid by the Seller to the Purchaser at the time of each purchase of Orbital Receivables hereunder with
respect to each such Purchased Orbital Receivable, in the following amounts: (A) with respect to an Orbital Receivable no portion of which has been previously purchased, the greater of (x) *** of the amount of such Purchased Orbital Receivable
in such purchase and (y) *** per Obligor; and (B) with respect to each Orbital Receivable of which a portion has been previously purchased and a further portion is to be purchased in the current purchase, the greater of (x) *** of the amount of
such Purchased Orbital Receivable and (y) ***; 
 “United States Dollars” means the lawful currency of the United States
of America; and 
 “Voting Shares” means shares of any class of any corporation, carrying voting rights generally under all circumstances.

  
 - 12 - 

 SCHEDULE 1.2 

CREDIT AND COLLECTION PROCEDURES 
  

 
  

			
	Operating Procedure No.: FP 5.6	  	Rev. No.: New
	Department of Ownership: General Accounting	  	Effective Date: September 2016

 SUBJECT: Accounts Receivable Collections 

REFERENCES: 
 Finance Procedures: 

FP 3.2 Cash Receipts 
 FP 5.1 Commercial Billings 

FP 5.2 Government Billings 
 FP 6.3 Trade Reserve Receivable for
Bad Debt 
 Forms: 
 Not Applicable 

SCOPE 
 This procedure outlines the process of collections
for outstanding receivables and the process that is taken in the event that the receivable becomes overdue. 
 GUIDELINES 

Cash receipts for outstanding receivables are tracked daily by the General Accountant.

Daily, the General Accountant prepares a report that details all receivables that have been collected on that day, all receivables that are due within the
week, and lists all receivables that are overdue. The date that the invoices were due is also included on the daily report so that it may be determined how old receivables are. 

This report is sent to the Contracts Department, Chief Financial Officer (CFO), and the Senior Vice President of Business and Legal Affairs. 

Monthly, the Cost Accounting Section Supervisor prepares an aged accounts receivable listing. The Cost Accounting Section Supervisor receives explanations
from the Contract Administrator as to the delinquencies. These explanation, and the actions that are being taken to remedy any delinquencies are added to the aging report. The report is reviewed by the Controller of SSL and then is sent to MDA
Corporate Accounting for review. 

 If a receivable is overdue, the Contract Administrator contacts the applicable Program Office. The Program Office
is responsible for contacting the appropriate customer to determine what the status is if the outstanding receivables. Once an explanation of the delinquency has been received by the Program Office, that information is communicated to Accounting.

 In the event that the Program Office is unable to resolve any issues, the delinquency is referred to the CFO, the Senior Vice President of Programs
(SVPP), and the Senior Vice President of Business and Legal Affairs (SVPBLA). 
 RESPONSIBILITIES and OWNERSHIP 

 

					
	 Responsible Party
	 	 Step

No.
	  	 Action

			
	General Accountant	 	1	  	Prepares daily a cash report detailing collections, expected collections, and any delinquent receivables. The report is distributed to Contracts and to Finance Management.
			
	Contract Administrator	 	2	  	Reviews the report prepared by the General Accountant to determine if there are delinquencies.
			
	Contract Administrator	 	3	  	Notifies the appropriate Program Office of any delinquencies.
			
	Program Office	 	4	  	Discusses delinquencies with the customers to determine reasons for delinquencies and expected cash collection date.
			
	Program Office	 	5	  	Notifies the Contract Administrator of any outstanding issues and expected collection date.
			
	Contract Administrator	 	6	  	Communicates to Accounting the expected collection date.
			
	Cost Accounting Section Supervisor	 	7	  	Prepares an accounts receivable aging report with input from the Contract Administrator.
			
	Controller	 	8	  	Reviews the accounts receivable aging report and submits to MDA Corporate Accounting
			
	Contract Administrator	 	9	  	Communicates any outstanding issues to the CFO, Senior Vice President of Business and Legal Affairs, and the Senior Vice President of Programs.
			
	Senior Vice President of Programs	 	10	  	Determines what additional steps need to be taken for collection. Based upon discussions with the CFO, determines if the Legal Department should be consulted.
			
	Vice President of Legal	 	9	  	Consults with the CFO and SVPP and determines if legal action should be taken. Ensures that the approved action is taken.

	
	 This document has been authorized or revised by:
  

Author : Joe Isaacs
 Ext: 26572, Department: Accounting,
Date: May 11, 2016

	  
 This document has been approved by:

 
 CFO : Mike Santoro

Ext: 25966

  

							
	REVISION HISTORY (As revisions are made, add a new row above the previous revision. Newest revision history should be shaded. Keep old revision information for historical purposes.) 
				
	 No.
	 	 Date
	  	 Responsible Person
	  	 Description of Change

	New	 	05/2016	  	Joe Isaacs	  	New Procedure

 SSL. “All Rights Reserved.” 

This document is valid only on the day printed:

 Exhibit “A” to the Limited Recourse Receivables Purchase Agreement made between Space Systems/Loral,
LLC and ING Bank, N.A. 
 LETTER OF OFFER 

[DATE] 
 [ING] 

Dear [ING]: 
  

			
	Re:	  	Offer by Space Systems/Loral, LLC (“Seller”) to sell to ING Bank, N.A. (“Purchaser”) certain Orbital Receivables in accordance with the Receivables Purchase Agreement, dated as of September 16, 2016, by
and between the Seller, the Guarantor and the Purchaser (the “Agreement”).

 This Letter of Offer (this “Letter”) is provided to you in accordance with the provisions of Section 2.2 of the
Agreement. Capitalized terms used in this Letter and not otherwise defined have the meanings ascribed to such terms in the Agreement. This Letter is governed by the law of the State of New York. 

We hereby offer to sell, subject to the terms and conditions set out in this Letter and in the Agreement, all our right, title and interest in and to certain
Orbital Receivables, as further described in the documents attached hereto as Schedule 11. With respect to the Orbital Receivables we are offering to sell you: 

 

			
	1. Proposed Purchase Date:	  	We propose as the date for purchase of the Orbital Receivables offered hereby (or such Orbital Receivables, of those offered hereby, as you may elect to purchase) be [PURCHASE DATE]
		
	2. Collections Schedule:	  	The Collections Schedule for each Orbital Receivable offered hereby is attached to this Letter as Schedule 22.
		
	3. Obligors:	  	The Obligor(s) with respect to each Orbital Receivable offered hereby is (are) set forth on Schedule 1 hereto.
		
	4. Face Value:	  	The aggregate Face Value of the Orbital Receivables offered hereby is [AGGREGATE FACE VALUE]. The Face Value of each Orbital Receivable offered hereby is set forth on Schedule 1
hereto.

  

	1 	NTD: Schedule 1 to set forth basic information with respect to each Orbital Receivable, including Obligor name, Face Value, etc. 

	2 	NTD: Schedule 2 to set forth the Collections Schedule for each Orbital Receivable. 

 EXHIBIT A 

 

			
		
	5. IOT Completion Certificate	  	The IOT Completion Certificate with respect to each Orbital Receivable offered hereby is (are) attached as Schedule 43.
		
	 6. Payment History
 (where
applicable)
	  	Data concerning the historical payment performances of each Orbital Receivable with respect to which such payment history exists is attached hereto as Schedule 54.

 If you accept our offer to sell, and agree to purchase, one or more of the Orbital Receivables offered hereby, which purchase
is agreed to be in accordance with the terms and subject to the conditions of the Agreement, please complete the following table and signify your intention to purchase the Orbital Receivables identified in the table below opposite the words
“Accepted Orbital Receivables” on the proposed Purchase Date by countersigning where indicated below and returning this Letter. 
 This Letter may
be executed in any number of counterparts each of which shall be an original, and all of which taken together shall constitute one and the same instrument, and the parties agree that receipt by e-mail
transmission of an executed copy of this Letter shall be deemed to be receipt of an original. 
  

			
	1. Accepted Orbital Receivables:	  	ING agrees to purchase the following Orbital Receivables, identified by Obligor and Face Value:
		
	2. Purchase Price:	  	***

 Yours very truly, 
 SPACE
SYSTEMS/LORAL, LLC 
 Signature: 
 (Print Name): 

 

	3 	NTD: Schedule 3 to contain all the relevant IOT Completion Certificates. 

	4 	NTD: Schedule 4 to contain historical payment performance data for ORS where applicable. 

 EXHIBIT A 

 
 ING accepts this Letter of Offer on the terms and conditions set forth in this Letter.

 Signature: 
 (Print Name): 

 Exhibit “B” to the Limited Recourse Receivables Purchase Agreement made between Space Systems/Loral,
LLC and ING Bank, N.V. 
 FORM OF LETTER OF CUSTOMER NOTIFICATION AND CONSENT REQUEST FROM SSL 

[CUSTOMER] 
 Attention: 

 

			
	Re:	  	Satellite Purchase Agreement[s] dated                     , for [descriptions of satellite[s]] with Space Systems/Loral,
LLC

 Dear
[                    ], 
 The purpose of this letter is
to provide notice that Space Systems/Loral, LLC (“SSL”) intends to sell its right to receive certain in-orbit performance incentive payments payable by [Customer] under the terms of [the/each]
Satellite Purchase Agreement referred to above (the “Orbital Receivables”). Such sale will be made pursuant to a Receivables Purchase Agreement between ING Bank, N.V. (“ING”), the purchaser, and SSL (the “RPA”). ING
will enter into a separate participation agreement to sell a fractional interest in the Orbital Receivables to a participant. 
 The execution of the RPA
and the consummation of the sale is expected to occur no later than [                    ]. We will notify you of the consummation of the sale at a
later date. We request that you confirm your acknowledgement and unconditional, irrevocable consent to the sale to ING [and waiver of the prohibition on assignment contained in [the/each] Satellite Purchase Agreement referred to above]5 by signing and returning this letter. 
 Dated this      day of
            , 20    . 
  

			
	Space Systems/Loral, LLC

			
		
	By:	 	  

	Name:	 	
	Title:	 	

  

	cc.:	[MDA] 

  

	5 	To be included where applicable. 

 EXHIBIT B 

ACKNOWLEDGED AND AGREED: 
  

			
	[CUSTOMER]

			
		
	By:	 	  

	Name:	 	
	Title:	 	

 Exhibit “C” to the Limited Recourse Receivables Purchase Agreement made between Space Systems/Loral,
LLC and ING Bank, N.V. 
 FORM OF LETTER OF CUSTOMER NOTIFICATION OF CONSUMMATION OF SALE FROM SSL 

[Date] 
 [CUSTOMER] 

[Address] 
 Attention: 

 

			
	Re:	  	Satellite Purchase Agreement[s] dated                     , for [descriptions of satellite[s]] with Space Systems/Loral,
LLC

 Dear
[                    ], 
 The purpose of this letter is
to provide notice that Space Systems/Loral, LLC (“SSL”) has sold its right to receive certain in-orbit performance incentive payments payable by you under the terms of [the/each] Satellite Purchase
Agreement referred to above (the “Orbital Receivables”) pursuant to a Receivables Purchase Agreement dated as of September     , 2016, between ING Bank, N.V. (“ING”) and SSL (the “RPA”). You are
hereby authorized and directed to continue to make payment in respect of the Orbital Receivables from and after [PURCHASE DATE] until [END DATE FOR ANY ORBITAL RECEIVABLES PAYABLE BEYOND 7 YEARS] to the following account: 

[COLLECTION ACCOUNT INFORMATION] 
 and to continue to make such
payments in accordance with the terms and subject to the conditions of [the/each] Satellite Purchase Agreement; provided, that in the event that you receive notice in writing from ING that a Direct Payment Event under the RPA has occurred, you are
hereby authorized and directed to make future payment of Orbital Receivables from and after the date of such notice into such bank account as identified by ING in such notice until [END DATE FOR ANY ORBITAL RECEIVABLES PAYABLE BEYOND 7 YEARS]. 

We request that you confirm your acknowledgement and consent to the foregoing by signing and returning the enclosed Acknowledgement and Consent. 

 

			
	Space Systems/Loral, LLC
		
	By:	 	
	
	  

 EXHIBIT C 

 

			
	Name:	 	
	Title:	 	

  

	cc.:	[MDA] 

 Exhibit “D” to the Limited Recourse Receivables Purchase Agreement made between Space Systems/Loral,
LLC and ING Bank, N.V. 
 FORM OF ACKNOWLEDGEMENT AND CONSENT 

[Date] 
 ING Bank, N.V. 

Bijlmerplein 888 
 1102 MG, Amsterdam 

Netherlands 
 Attn.:    Wim Steenbakkers 

 

			
	Re:	  	Satellite Purchase Agreement[s] dated                     , for [descriptions of satellite[s]] with Space Systems/Loral,
LLC

 Dear Sirs: 
 With respect to
[Customer’s] obligation to pay in-orbit performance incentives (the “Orbital Receivables”) to SSL under the terms of [the/each] Satellite Purchase Agreement[s] referred to above, we hereby
acknowledge that SSL has sold such Orbital Receivables and hereby confirm our consent to such sale by SSL to ING Bank, N.V. (“ING”). In connection with the sale, we hereby also consent to the receipt and retention by ING and any
participant pursuant to a separate agreement of a copy of [the/each] Satellite Purchase Agreement as set forth in the Document Delivery Protocol attached hereto as Schedule 1. 

We hereby agree to continue to make payments in respect of such Orbital Receivables, from and after [PURCHASE DATE] until [END DATE FOR ANY ORBITAL
RECEIVABLES PAYABLE BEYOND 7 YEARS], to the following account: 
 [COLLECTION ACCOUNT INFORMATION] 

when due under and in accordance with the terms of [the/each] Satellite Purchase Agreement, ***. 

We confirm that this letter is binding and may be relied upon by ING. 
  

			
	[CUSTOMER]
		
	By:	 	

 EXHIBIT D 

 

			
	
	  

	Name:	 	
	Title:	 	

 Exhibit “E” to the Limited Recourse Receivables Purchase Agreement made between SpaceSystems/Loral, LLC
and ING Bank, N.V. 
 DOCUMENT DELIVERY PROTOCOL 

This Protocol sets forth the terms of delivery to the Purchaser or any Participant of hard copies of Satellite Contracts in accordance with the terms of the
Receivables Purchase Agreement (capitalized terms used and not otherwise defined being those defined in the Receivables Purchase Agreement). 

1. Obligor Consents. The Seller shall request, in the Obligor Notification, each Obligor’s consent in each Letter of Acknowledgement and
Consent to the delivery, upon or prior to the sale of Orbital Receivables of each such Obligor pursuant to the Receivables Purchase Agreement, of a hard copy of each Obligor’s Satellite Contract to the Purchaser and any Participant. 

 

	 	•	 	for those Obligors that consent to delivery at such time, such delivery of a copy is a condition precedent to the sale (export-controlled information excluded) 

 

	 	•	 	for Obligors that express concerns about such delivery, the Purchaser and any Participant may consent instead to provision of a redacted copy, removing commercially sensitive data 

 

	 	•	 	for Obligors that are unwilling to consent to delivery at such time, even on a redacted basis, the Satellite Contracts shall be subject to the data room process outlined below. 

2. Data Room. A data room providing continuous electronic access to Satellite Contracts not delivered as per the above shall be set up using
an acceptable data storage/services company and administered either by an independent third party administrator engaged by the Purchaser or by counsel to the Purchaser, Milbank, Tweed, Hadley and McCloy LLP. 

The data storage/services company and the terms of the arrangement for administration are to be reasonably satisfactory to all parties and the costs of
storage and administration are to be borne by the Seller and the Guarantor. 
 3. Access Rights. For those Satellite Contracts that have
not been delivered at the time of the sale of the applicable Purchased Orbital Receivables, the Purchaser and any Participant will be entitled to receive a hard copy of the affected Satellite Contract upon the occurrence of a Triggering Event (as
specified below) and delivery to the data room administrator of a written statement signed by the Purchaser or any Participant certifying that a Triggering Event has occurred, without the need to provide evidence or other substantiation of the
Triggering Event and without the requirement for prior consent of the Seller, the Guarantor or any Obligor. The Purchaser shall, and shall cause any Participant to agree to terms of non-disclosure of the
delivered Satellite Contract in form and substance to be reasonably satisfactory to the Seller. 

 EXHIBIT E 

 
 4. Triggering Events. Any of the following: 

 

	 	•	 	Event of Default under the Receivables Purchase Agreement; 

  

	 	•	 	audit requirement; 

  

	 	•	 	as required for compliance with applicable law (including orders, decisions and rulings by governmental authorities, agencies, courts, or other official bodies having jurisdiction over the Purchaser or any Participant);

  

	 	•	 	failure of an Obligor to pay any Orbital Receivable giving rise to a claim for default or any enforcement action by the Seller; 

  

	 	•	 	a determination by the Purchaser (acting reasonably) that the Purchaser or any Participant requires a hard copy of the affected Satellite to protect, enforce or realize the benefit of its Purchased Orbital Receivables
under the Receivables Purchase Agreement.

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