Document:

EX-10.6

 Exhibit 10.6 

Execution Version 
 CREDIT AGREEMENT

 among 
 KONTOOR BRANDS, INC.,

 LEE WRANGLER INTERNATIONAL SAGL, 

Other Subsidiary Borrowers from Time to Time Parties Hereto, 

The Several Lenders 
 from Time to
Time Parties Hereto, 
 and 

JPMORGAN CHASE BANK, N.A., 
 as
Administrative Agent 
 Dated as of May 17, 2019 
  

 
 JPMORGAN CHASE
BANK, N.A., BARCLAYS BANK PLC, BOFA SECURITIES, INC., 
 HSBC SECURITIES INC. and WELLS FARGO SECURITIES, LLC, 

as Joint Lead Arrangers and Joint Bookrunners 

BNP PARIBAS, CITIBANK, N.A., ING BANK N.V., DUBLIN BRANCH, PNC BANK, 

NATIONAL ASSOCIATION, SANTANDER BANK, N.A. and SUNTRUST BANK, 

as Co-Documentation Agents, 

BANK OF AMERICA, N.A., BARCLAYS BANK PLC, HSBC BANK USA, NATIONAL 

ASSOCIATION and WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Co-Syndication Agents 

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	PAGE	 
	 SECTION 1.
	 	DEFINITIONS	  	 	1	 
			
	 1.1.
	 	Defined Terms	  	 	1	 
	 1.2.
	 	Other Definitional Provisions	  	 	50	 
	 1.3.
	 	Currency Conversion	  	 	51	 
	 1.4.
	 	Terms Generally; Pro Forma Calculations	  	 	51	 
	 1.5.
	 	Swiss terms	  	 	54	 
			
	 SECTION 2.
	 	AMOUNT AND TERMS OF LOANS AND COMMITMENTS	  	 	55	 
			
	 2.1.
	 	Tranche B Term Commitments	  	 	55	 
	 2.2.
	 	Procedure for Tranche B Term Loan Borrowing	  	 	55	 
	 2.3.
	 	Tranche A Term Commitments	  	 	55	 
	 2.4.
	 	Procedure for Tranche A Term Loan Borrowing	  	 	55	 
	 2.5.
	 	Repayment of Term Loans	  	 	56	 
	 2.6.
	 	Revolving Commitments	  	 	57	 
	 2.7.
	 	Procedure for Revolving Loan Borrowing	  	 	57	 
	 2.8.
	 	Swingline Commitments	  	 	58	 
	 2.9.
	 	Procedure for Swingline Borrowing; Refunding of Swingline Loans	  	 	59	 
	 2.10.
	 	Commitment Fees, etc.	  	 	60	 
	 2.11.
	 	Termination or Reduction of Revolving Commitments	  	 	61	 
	 2.12.
	 	Optional Prepayments	  	 	61	 
	 2.13.
	 	Mandatory Prepayments	  	 	62	 
	 2.14.
	 	Conversion and Continuation Options	  	 	65	 
	 2.15.
	 	Limitations on Eurodollar Tranches	  	 	66	 
	 2.16.
	 	Interest Rates and Payment Dates	  	 	66	 
	 2.17.
	 	Computation of Interest and Fees	  	 	68	 
	 2.18.
	 	Inability to Determine Interest Rate	  	 	68	 
	 2.19.
	 	Pro Rata Treatment and Payments	  	 	70	 
	 2.20.
	 	Requirements of Law	  	 	72	 
	 2.21.
	 	Taxes	  	 	74	 
	 2.22.
	 	Indemnity	  	 	78	 
	 2.23.
	 	Change of Lending Office	  	 	78	 
	 2.24.
	 	Replacement of Lenders	  	 	79	 
	 2.25.
	 	Foreign Currency Exchange Rate	  	 	79	 
	 2.26.
	 	Extension of the Facilities	  	 	80	 
	 2.27.
	 	Incremental Loan Extensions	  	 	82	 
	 2.28.
	 	Defaulting Revolving Lenders	  	 	87	 
	 2.29.
	 	Designation of Subsidiary Borrowers	  	 	89	 
	 2.30.
	 	Refinancing Facilities	  	 	91	 
			
	 SECTION 3.
	 	LETTERS OF CREDIT	  	 	92	 
			
	 3.1.
	 	L/C Commitments	  	 	92	 
	 3.2.
	 	Procedure for Issuance of Letter of Credit	  	 	92	 
	 3.3.
	 	Fees and Other Charges	  	 	93	 
	 3.4.
	 	L/C Participations	  	 	93	 

  
 i 

							
	 3.5.
	 	Reimbursement Obligation of the Borrowers	  	 	94	 
	 3.6.
	 	Obligations Absolute	  	 	94	 
	 3.7.
	 	Letter of Credit Payments	  	 	95	 
	 3.8.
	 	Applications	  	 	96	 
	 3.9.
	 	Provisions Related to Letters of Credit in Respect of Extended Revolving Commitments	  	 	96	 
			
	 SECTION 4.
	 	REPRESENTATIONS AND WARRANTIES	  	 	96	 
			
	 4.1.
	 	Financial Condition	  	 	96	 
	 4.2.
	 	No Change	  	 	96	 
	 4.3.
	 	Existence; Compliance with Law	  	 	96	 
	 4.4.
	 	Power; Authorization; Enforceable Obligations	  	 	97	 
	 4.5.
	 	No Legal Bar	  	 	97	 
	 4.6.
	 	Litigation	  	 	97	 
	 4.7.
	 	No Default	  	 	97	 
	 4.8.
	 	Ownership of Property	  	 	97	 
	 4.9.
	 	Intellectual Property	  	 	98	 
	 4.10.
	 	Taxes	  	 	98	 
	 4.11.
	 	Compliance with Swiss Non-Bank Rules	  	 	98	 
	 4.12.
	 	Federal Regulations	  	 	98	 
	 4.13.
	 	Labor Matters	  	 	98	 
	 4.14.
	 	ERISA	  	 	98	 
	 4.15.
	 	Investment Company Act; Other Regulations	  	 	99	 
	 4.16.
	 	Subsidiaries	  	 	99	 
	 4.17.
	 	Use of Proceeds	  	 	99	 
	 4.18.
	 	Environmental Matters	  	 	99	 
	 4.19.
	 	Accuracy of Information, etc.	  	 	100	 
	 4.20.
	 	Security Documents	  	 	100	 
	 4.21.
	 	Solvency	  	 	101	 
	 4.22.
	 	Anti-Corruption Laws and Sanctions	  	 	101	 
	 4.23.
	 	EEA Financial Institutions	  	 	101	 
			
	 SECTION 5.
	 	CONDITIONS PRECEDENT	  	 	101	 
			
	 5.1.
	 	Conditions to the Closing Date	  	 	101	 
	 5.2.
	 	Conditions to Each Extension of Credit	  	 	103	 
			
	 SECTION 6.
	 	AFFIRMATIVE COVENANTS	  	 	103	 
			
	 6.1.
	 	Financial Statements	  	 	103	 
	 6.2.
	 	Certificates; Other Information	  	 	104	 
	 6.3.
	 	Payment of Taxes	  	 	105	 
	 6.4.
	 	Maintenance of Existence; Compliance	  	 	105	 
	 6.5.
	 	Maintenance of Property; Insurance	  	 	105	 
	 6.6.
	 	Inspection of Property; Books and Records; Discussions	  	 	105	 
	 6.7.
	 	Notices	  	 	105	 
	 6.8.
	 	Environmental Laws	  	 	106	 
	 6.9.
	 	Additional Collateral, etc.	  	 	106	 
	 6.10.
	 	Designation of Subsidiaries	  	 	108	 
	 6.11.
	 	Post-Closing Real Estate Deliverables	  	 	109	 
	 6.12.
	 	Post-Closing Obligations	  	 	110	 
	 6.13.
	 	Maintenance of Ratings	  	 	110	 

  
 ii 

							
			
	 SECTION 7.
	 	NEGATIVE COVENANTS	  	 	110	 
			
	 7.1.
	 	Financial Condition Covenants	  	 	110	 
	 7.2.
	 	Indebtedness	  	 	111	 
	 7.3.
	 	Liens	  	 	115	 
	 7.4.
	 	Fundamental Changes	  	 	119	 
	 7.5.
	 	Disposition of Property	  	 	120	 
	 7.6.
	 	Restricted Payments	  	 	123	 
	 7.7.
	 	[Reserved]	  	 	124	 
	 7.8.
	 	Investments	  	 	124	 
	 7.9.
	 	[Reserved]	  	 	129	 
	 7.10.
	 	Transactions with Affiliates	  	 	129	 
	 7.11.
	 	Sales and Leasebacks	  	 	130	 
	 7.12.
	 	Changes in Fiscal Periods	  	 	130	 
	 7.13.
	 	Negative Pledge Clauses	  	 	131	 
	 7.14.
	 	Lines of Business	  	 	132	 
	 7.15.
	 	Optional Payments and Modifications of Subordinated Indebtedness	  	 	132	 
	 7.16.
	 	Use of Proceeds	  	 	133	 
			
	 SECTION 8.
	 	EVENTS OF DEFAULT	  	 	133	 
			
	 SECTION 9.
	 	THE AGENTS	  	 	136	 
			
	 9.1.
	 	Appointment	  	 	136	 
	 9.2.
	 	Delegation of Duties	  	 	137	 
	 9.3.
	 	Exculpatory Provisions	  	 	137	 
	 9.4.
	 	Reliance by Administrative Agent	  	 	137	 
	 9.5.
	 	Notice of Default	  	 	137	 
	 9.6.
	 	Non-Reliance on Agents and Other Lenders	  	 	138	 
	 9.7.
	 	Indemnification	  	 	138	 
	 9.8.
	 	Agent in Its Individual Capacity	  	 	138	 
	 9.9.
	 	Successor Administrative Agent	  	 	138	 
	 9.10.
	 	Certain ERISA Matters	  	 	139	 
	 9.11.
	 	Agents	  	 	140	 
	 9.12.
	 	Credit Bidding	  	 	140	 
			
	 SECTION 10.
	 	MISCELLANEOUS	  	 	141	 
			
	 10.1.
	 	Amendments and Waivers	  	 	141	 
	 10.2.
	 	Notices	  	 	143	 
	 10.3.
	 	No Waiver; Cumulative Remedies	  	 	143	 
	 10.4.
	 	Survival of Representations and Warranties	  	 	143	 
	 10.5.
	 	Payment of Expenses	  	 	144	 
	 10.6.
	 	Successors and Assigns; Participations and Assignments	  	 	145	 
	 10.7.
	 	Adjustments; Set-off	  	 	149	 
	 10.8.
	 	Counterparts	  	 	150	 
	 10.9.
	 	Severability	  	 	150	 
	 10.10.
	 	Integration	  	 	150	 

  
 iii 

							
	 10.11.
	 	GOVERNING LAW	  	 	150	 
	 10.12.
	 	Submission To Jurisdiction; Waivers	  	 	151	 
	 10.13.
	 	[Reserved]	  	 	152	 
	 10.14.
	 	Releases of Guarantees and Liens	  	 	152	 
	 10.15.
	 	Confidentiality	  	 	153	 
	 10.16.
	 	WAIVERS OF JURY TRIAL	  	 	154	 
	 10.17.
	 	Patriot Act	  	 	154	 
	 10.18.
	 	No Fiduciary Duty	  	 	154	 
	 10.19.
	 	Usury	  	 	155	 
	 10.20.
	 	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	155	 
	 10.21.
	 	Conversion of Currencies	  	 	155	 
	 10.22.
	 	Separate Obligations	  	 	156	 
	 10.23.
	 	Several Obligations	  	 	156	 
	 10.24.
	 	MIRE Events	  	 	156	 

  

			
	SCHEDULES:
		
	1.1A	  	Commitments
	1.1B	  	Mortgaged Property
	1.1C	  	Existing Letters of Credit
	1.1D	  	Permitted Cash Pooling Agreements
	1.1E	  	Loan Parties
	1.1F	  	Excluded Subsidiary
	4.1	  	Material Obligations
	4.4	  	Consents, Authorizations, Filings and Notices
	4.16	  	Subsidiaries
	4.20(a)	  	Financing Statements/Filing Offices
	4.20(b)	  	Mortgage Filing Jurisdictions
	6.12	  	Post-Closing Obligations
	7.2(d)	  	Existing Indebtedness
	7.3(f)	  	Existing Liens
	7.3(m)	  	Existing Receivables Financing/ Existing Supply Chain Financing
	7.5	  	Dispositions
	7.8(h)	  	Existing Investments
	7.10	  	Transactions with Affiliates
	7.13	  	Negative Pledge
	
	EXHIBITS:
		
	A-1	  	Form of Guarantee Agreement
	A-2	  	Form of Collateral Agreement
	B	  	Form of Compliance Certificate
	C	  	Form of Legal Opinions
	D	  	Form of Joinder Agreement

  
 iv 

			
	E	  	Form of Assignment and Assumption
	F	  	Form of U.S. Tax Compliance Certificate
	G	  	Form of Solvency Certificate
	H	  	Form of Administrative Questionnaire

  
 v 

 CREDIT AGREEMENT, dated as of May 17, 2019, among KONTOOR BRANDS, INC., a North
Carolina corporation (the “Company”), LEE WRANGLER INTERNATIONAL SAGL, a Società a Garanzia Limitata organized under the laws of Switzerland and a Subsidiary of the Company (“Lee Wrangler”), any other
Subsidiary Borrowers (as defined herein) from time to time parties hereto, the several banks and other financial institutions or entities from time to time parties to this Agreement (the “Lenders”) and JPMORGAN CHASE BANK, N.A., as
administrative agent. 
 RECITALS 

WHEREAS, the Board of Directors of V.F. Corporation (“VF”) has determined that it is in the best interest of VF and its
stockholders to distribute to the holders of the issued and outstanding shares of common stock of VF, by means of a pro rata distribution, all of the issued and outstanding shares of common stock of the Company (the
“Distribution”), a wholly owned subsidiary of VF. In anticipation of the foregoing, it is intended that, prior to the Distribution, the Company will directly or indirectly fund a cash transfer to members of VF’s group (the
“Closing Date Cash Transfer”), in each case as more fully described in the Form 10 and Separation and Distribution Agreement; 

WHEREAS, in connection therewith, the Borrowers have requested that the Lenders extend credit to the Borrowers in the form of senior secured
credit facilities in an aggregate amount of $1,550,000,000 comprised of (i) a $750,000,000 term loan A facility, (ii) a $300,000,000 term loan B facility and (iii) a $500,000,000 revolving credit facility, the proceeds of which will
be used, among other things, to finance the Closing Date Cash Transfer; and 
 WHEREAS, the Lenders are willing to extend such credit to the
Borrowers on the terms and subject to the conditions set forth herein. 
 NOW, THEREFORE, the parties hereto hereby agree as follows: 

SECTION 1. DEFINITIONS 
 1.1. Defined
Terms. As used in this Agreement, the terms listed in this Section 1.1 shall have the respective meanings set forth in this Section 1.1. 

“ABR”: for any day, a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 1/2 of 1% and (c) the Eurodollar Rate for a Eurodollar Loan denominated in U.S. Dollars with a one-month
interest period commencing on such day plus 1%. Any change in the ABR due to a change in the Prime Rate, the NYFRB Rate or such Eurodollar Rate shall be effective as of the opening of business on the day of such change in the Prime Rate, the NYFRB
Rate or such Eurodollar Rate, respectively. If ABR is being used as an alternate rate of interest pursuant to Section 2.18 hereof, then ABR shall be the greater of clauses (a) and (b) above and shall be determined without reference to
clause (c) above. 
 “ABR Loans”: Loans the rate of interest applicable to which is based upon the ABR. 

“Additional Lender”: as defined in Section 2.27(b). 

“Additional Refinancing Lender”: as defined in Section 2.30(a). 

“Adjustment Date”: as defined in the Pricing Grid. 

 “Administrative Agent”: JPMCB, together with its affiliates, as the
arranger of the Commitments and as the administrative agent for the Lenders under this Agreement and the other Loan Documents, together with any of its successors. 

“Administrative Questionnaire”: an Administrative Questionnaire in the form of Exhibit H or such other form as may be
supplied from time to time by the Administrative Agent. 
 “Affected Foreign Currency”: as defined in
Section 2.18(a)(iii). 
 “Affiliate”: as to any Person, any other Person that, at any time, directly or indirectly, is
in control of, is controlled by, or is under common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, to direct or cause the direction of the management and
policies of such Person, whether by contract or otherwise. 
 “Affiliated Lender”: as defined in Section 10.6(k). 

“Agents”: the collective reference to the Co-Documentation Agents, the Co-Syndication Agents, the Joint Lead Arrangers, the Joint Bookrunners and the Administrative Agent. 

“Agreement”: this Credit Agreement, as amended, supplemented or otherwise modified from time to time. 

“Agreement Currency”: as defined in Section 10.21(b). 

“Aggregate Exposure”: with respect to any Lender at any time, an amount equal to the sum of (i) the aggregate then
unpaid principal amount of such Lender’s Term Loans and (ii) the amount of such Lender’s Revolving Commitment then in effect or, if the Revolving Commitments have been terminated, the amount of such Lender’s Revolving Extensions
of Credit then outstanding. 
 “Aggregate Exposure Percentage”: with respect to any Lender at any time, the ratio
(expressed as a percentage) of such Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time. 

“All-in Yield”: with respect to any Indebtedness, the yield of such Indebtedness,
whether in the form of interest rate, margin, commitment or ticking fees, original issue discount, upfront fees, index floors or otherwise, in each case, payable generally to the applicable lenders; provided that original issue discount and upfront
fees shall be equated to interest rate assuming a four-year life to maturity; provided further that “All-in Yield” shall not include arrangement fees, structuring fees, consent fees or other fees in
each case not paid to the applicable lenders generally. 
 “Allocation Date”: as defined in Section 2.10(d). 

“Anti-Corruption Laws”: all laws, rules and regulations of any jurisdiction applicable to the Company or its Subsidiaries
from time to time concerning or relating to bribery or corruption. 
 “Applicable Corporate Rating Level”: as defined in
the Pricing Grid. 
 “Applicable Creditor”: as defined in Section 10.21(b). 

“Applicable Intercreditor Agreement”: a First Lien Intercreditor Agreement or a Junior Lien Intercreditor Agreement, as
applicable. 

  
 2 

 “Applicable Margin”: (a) for each Type of Revolving Loan, Swingline Loan
and Tranche A Term Loan, the rate per annum set forth under the relevant column heading below: 
  

									
	 	  	ABR Loans /
Canadian Prime
Rate Loans	 	 	Eurodollar Loans /
Overnight LIBOR
Loans / CDOR
Loans	 
	 Revolving Loans, Swingline Loans and Tranche A Term Loans
	  	 	0.75	% 	 	 	1.75	% 

 provided that from and after the first Adjustment Date occurring after the completion of the first full fiscal quarter ending
after the Closing Date, the Applicable Margin with respect to Revolving Loans, Swingline Loans and Tranche A Term Loans will be determined pursuant to the Pricing Grid; and 

(b) for each Type of Tranche B Term Loan, a rate per annum equal to (i) 4.25% for Tranche B Term Loans that are Eurodollar Loans and (ii) 3.25%
for Tranche B Term Loans that are ABR Loans. 
 “Applicable Minimum Amount”: in the case of Revolving Loans, an amount
equal to (i) if such Loans are denominated in Pounds Sterling, £5,000,000 or a whole multiple of £1,000,000 in excess thereof, (ii) if such Loans are denominated in Euro, €5,000,000 or a whole multiple of €1,000,000
in excess thereof, (iii) if such Loans are denominated in Canadian Dollars, CAD$5,000,000 or a whole multiple of CAD$1,000,000 in excess thereof, (iv) if such Loans are denominated in Swiss Francs, CHF5,000,000 or a whole multiple of
CHF1,000,000 in excess thereof and (v) if such Loans are denominated in Yen, ¥500,000,000 or a whole multiple of ¥100,000,000 in excess thereof. 

“Applicable Prepayment Percentage”: with respect to any prepayment of the Term Loans required pursuant to
Section 2.13(b) in connection with any Asset Sale or Recovery Event (i) if the Senior Secured Leverage Ratio is less than 2.00 to 1.00 as of the last day of the most recently ended Test Period, 50% or (ii) otherwise, 100%. 

“Application”: with respect to an Issuing Lender, an application, in such form as such Issuing Lender may specify from time
to time, requesting such Issuing Lender to issue or amend a Letter of Credit. 
 “Arrangers”: JPMorgan Chase Bank, N.A.,
Barclays Bank PLC, BofA Securities, Inc., Wells Fargo Securities, LLC and HSBC Securities. 
 “Asset Sale”: any Disposition
of property or series of related Dispositions of property permitted by clause (h) or clause (k) of Section 7.5 that yields Net Cash Proceeds to the Company or any of its Subsidiaries of greater than $10,000,000 (the “Asset
Sale Threshold”). 
 “Assignee”: as defined in Section 10.6(c). 

“Assignment and Assumption”: an Assignment and Assumption, substantially in the form of Exhibit E. 

“Assignor”: as defined in Section 10.6(c). 

“Auto-Extension Letter of Credit”: as defined in Section 3.1(a). 

  
 3 

 “Available Amount”: at any time, an amount equal to, without duplication:

 (a) the sum of: 

(i) greater of (x) $60,000,000 and (y) 15% of Consolidated EBITDA for the most recently ended Test Period calculated on a Pro
Forma Basis; plus 
 (ii) the CNI Growth Amount; plus 

(iii) the amount of any capital contributions to or other proceeds of any issuance of Qualified Capital Stock (other than any
amounts received from the Company or any Subsidiary) received by the Company or any of its Subsidiaries, plus the fair market value (as determined by the Company in good faith) of Cash Equivalents, marketable securities or other property received by
the Company or any Subsidiary as a capital contribution or in return for any issuance of Qualified Capital Stock (other than any amounts received from the Company or any Subsidiary), in each case, during the period from and including the day
immediately following the Closing Date through and including such time; plus 
 (iv) the aggregate principal amount of any
Indebtedness or Disqualified Capital Stock, in each case, of the Company or any Subsidiary issued after the Closing Date (other than Indebtedness or such Disqualified Capital Stock issued to the Company or any Subsidiary), which has been converted
into or exchanged for Capital Stock of the Company or any Subsidiary that does not constitute Disqualified Capital Stock, together with the fair market value of any cash or Cash Equivalents (as determined by the Company in good faith) and the fair
market value (as determined by the Company in good faith) of any property or assets received by the Company or such Subsidiary upon such exchange or conversion, in each case, during the period from and including the day immediately following the
Closing Date through and including such time; plus 
 (v) the net proceeds received by the Company or any Subsidiary during
the period from and including the day immediately following the Closing Date through and including such time in connection with the Disposition to any Person (other than the Company or any Subsidiary) of any Investment made pursuant to
Section 7.8(l) in an amount, together with amounts added pursuant to clauses (vi) and (vii)(C), not to exceed the original Investment; plus 

(vi) to the extent not already reflected as a return of capital with respect to such Investment for purposes of determining the
amount of such Investment, the proceeds received by the Company or any Subsidiary during the period from and including the day immediately following the Closing Date through and including such time in connection with cash returns, cash profits, cash
distributions and similar cash amounts, including cash principal repayments of loans and interest payments on loans, in each case received in respect of any Investment made pursuant to Section 7.8(l) in an amount, together with amounts added
pursuant to clauses (v) and (vii)(C), not to exceed the original Investment; plus 
 (vii) an amount equal to the sum of
(A) the amount of any Investments by the Company or any Subsidiary pursuant to Section 7.8(l) in any Unrestricted Subsidiary that has been re-designated as a Subsidiary, (B) the amount of any
Investments by the Company or any Subsidiary pursuant to Section 7.8(l) in any Unrestricted Subsidiary or any Joint Venture that is not a Subsidiary that has been merged, consolidated or amalgamated with or into, or is liquidated, wound up or
dissolved into, the Company or any Subsidiary and (C) the fair market value (as determined by the Company in good faith) of the property or assets of any Unrestricted Subsidiary or any Joint Venture that is not a Subsidiary that have been
transferred, conveyed or 

  
 4 

 
otherwise distributed to the Company or any Subsidiary, in each case, during the period from and including the day immediately following the Closing Date through and including such time in an
amount not to exceed, together with amounts added pursuant to clauses (v) and (vi), the Investments made in such Unrestricted Subsidiary or Joint Venture pursuant to Section 7.8(l); plus 

(viii) the amount of any Declined Proceeds; plus 

(ix) the amount of any Retained Asset Sale Proceeds; minus 

(b) an amount equal to the sum of (i) Restricted Payments made pursuant to Section 7.6(g), plus (ii) Restricted Debt Payments
made pursuant to Section 7.15(e), plus (iii) Investments made pursuant to Section 7.8(l), in each case, during the period from and including the day immediately following the Closing Date through and including such time. 

“Available Revolving Commitment”: as to any Revolving Lender at any time, an amount equal to the excess, if any, of
(a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the purpose of
determining such Lender’s Available Revolving Commitment pursuant to Section 2.10(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero. 

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

“Bail-In Legislation”: with respect to any EEA Member Country implementing Article 55
of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule. 
 “Beneficial Ownership Certification”: with respect to any Borrower that is a “legal entity customer”
as such term is defined in the Beneficial Ownership Regulation, a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation. 

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

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

“Benefitted Lender”: as defined in Section 10.7(a). 

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

“Borrower”: (a) with respect to the Tranche A Term Facility and the Tranche B Term Facility, the Company and (b) with
respect to the Revolving Facility, the Company, Lee Wrangler and each other Subsidiary Borrower. The Company, Lee Wrangler and the other Subsidiary Borrowers are referred to herein collectively as the “Borrowers”. 

  
 5 

 “Borrowing Date”: any Business Day specified by the applicable Borrower as
a date on which such Borrower requests the relevant Lenders to make Loans hereunder. 
 “Business”: as defined in
Section 4.18(b). 
 “Business Day”: a day other than a Saturday, Sunday or other day on which commercial banks in New
York City are authorized or required by law to remain closed; provided, that with respect to notices and determinations in connection with, and payments of principal and interest on, Eurodollar Loans denominated in U.S. Dollars, such day is
also a day for trading by and between banks in U.S. Dollar deposits in the London interbank eurodollar market; provided further that (i) when used in connection with an Overnight LIBOR Loan or a Foreign Currency Revolving Loan
denominated in a currency other than Canadian Dollars, the term “Business Day” shall also exclude any day on which banks are not open for general business for such Foreign Currency in the London interbank eurodollar market, (ii) when
used in connection with Loans denominated in Euro bearing interest at the EURIBOR Rate, the term “Business Day” shall also exclude any day on which TARGET is not open for settlement of payment in Euro, (iii) when used in connection
with any Loans denominated in Canadian Dollars, the term “Business Day” shall also exclude any day on which banks are not open for dealings in deposits of Canadian Dollars in the Toronto interbank market and (iv) when used in
connection with a Loan to any Borrower organized in a jurisdiction other than the United States of America or England, the term “Business Day” shall also exclude any day on which commercial banks in the jurisdiction of organization of such
Borrower are authorized or required by law to remain closed. 
 “Calculation Date”: with respect to each Foreign Currency,
the last day of each calendar month (or, if such day is not a Business Day, the next succeeding Business Day) and such other days from time to time as the Administrative Agent shall designate as a “Calculation Date” during the continuation
of a Default; provided that (i) the second Business Day preceding each Borrowing Date (or in the case of Eurodollar Loans denominated in Pounds Sterling and CDOR Loans, on the Borrowing Date) with respect to, and each date of any continuation
of, any Foreign Currency Revolving Loan which is a Eurodollar Loan or CDOR Loan shall also be a “Calculation Date” with respect to such Foreign Currency and (ii) subject to Section 2.12, the Borrowing Date with respect to any
other Foreign Currency Revolving Loan shall also be a Calculation Date with respect to such Foreign Currency. 
 “Canadian
Dollars”: the lawful currency of Canada. 
 “Canadian Prime Rate”: on any day, the higher of (i) the rate
equal to the PRIMCAN Index rate that appears on the Bloomberg screen at 10:15 a.m. Toronto time on such day (or, in the event that the PRIMCAN Index is not published by Bloomberg, any other information services that publishes such index from time to
time, as selected by the Administrative Agent in its reasonable discretion) and (ii) the average rate for 30 day Canadian Dollar bankers’ acceptances that appears on the Reuters Screen CDOR Page (or, in the event such rate does not appear
on such page or screen, on any successor or substitute page or screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time) at 10:15 a.m. Toronto time on such day, plus 1%
per annum; provided, that if any the above rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. Any change in the Canadian Prime Rate due to a change in the PRIMCAN Index or the CDO Rate shall be
effective from and including the effective date of such change in the PRIMCAN Index or CDO Rate, respectively. 
 “Canadian Prime
Rate Loan”: Loans the rate of interest applicable to which is based upon the Canadian Prime Rate. 

  
 6 

 “Capital Expenditures”: for any period, with respect to any Person, the
aggregate of all expenditures by such Person and its Subsidiaries for the acquisition or leasing (pursuant to a capital lease) of fixed or capital assets or additions to equipment (including replacements, capitalized repairs and improvements during
such period) that should be capitalized under GAAP on a consolidated balance sheet of such Person and its Subsidiaries. 
 “Capital
Lease Obligations”: as to any Person, the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations
are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time
determined in accordance with GAAP; provided that, notwithstanding any change in GAAP on or after December 15, 2018 that would require obligations that would be classified and accounted for as an operating lease under GAAP as existing on the
Closing Date to be classified and accounted for as capital leases or otherwise reflected on the consolidated balance sheet of the Company and its Subsidiaries, such obligations shall continue to be treated as operating leases for all purposes under
this Agreement. 
 “Capital Stock”: any and all shares, interests, participations or other equivalents (however designated)
of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing. 

“Cash Equivalents”: (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United States
Government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition; (b) certificates of deposit, time deposits, eurodollar time deposits or
overnight bank deposits having maturities of one year or less from the date of acquisition issued by any Lender or by any commercial bank organized under the laws of the United States or any state thereof or any United States branch of a foreign
bank, in each case having combined capital and surplus of not less than $500,000,000; (c) commercial paper of an issuer rated at least A-2 by Standard & Poor’s Financial Services LLC (together
with any successor thereto, “S&P”), P-2 by Moody’s Investors Service, Inc. (together with any successor thereto, “Moody’s”) or F2 by Fitch, or
carrying an equivalent rating by a nationally recognized rating agency, if all of the three named rating agencies cease publishing ratings of commercial paper issuers generally, and maturing within one year from the date of acquisition;
(d) repurchase obligations of any Lender or of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than 30 days, with respect to securities issued or fully guaranteed or insured by
the United States government; (e) securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing
authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated (i) in the
case of any such state, commonwealth, territory, political subdivision or taxing authority, at least A by S&P, A by Moody’s or A by Fitch or (ii) in the case of a foreign government, at least
BBB- by S&P, Baa3 by Moody’s or BBB- by Fitch; (f) securities with maturities of one year or less from the date of acquisition backed by standby letters of
credit issued by any Lender or any commercial bank satisfying the requirements of clause (b) of this definition; (g) shares of money market mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses
(a) through (f) of this definition; (h) money market funds that (i) comply with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act of 1940, as amended, (ii) are rated
AAA or Aaa, as applicable, by any two of S&P, Moody’s and Fitch and (iii) have portfolio assets of at least $5,000,000,000; (i) debt securities of an issuer rated at least A-1 by S&P, P-1 by Moody’s or F1 by Fitch, or carrying an equivalent rating by a nationally recognized rating agency; or (j) solely in respect of the ordinary course cash management activities of the Foreign
Subsidiaries, (i) equivalents of the investments 

  
 7 

 
described in clause (a) above to the extent guaranteed by any member state of the European Union or the country in which the Foreign Subsidiary operates, (ii) equivalents of the
investments described in clause (b) above issued, accepted or offered by any commercial bank organized under the laws of a member state of the European Union or the jurisdiction of organization of the applicable Foreign Subsidiary having at the
acquisition thereof combined capital and surplus of not less than $250,000,000 and (iii) without limiting the foregoing sub-clauses (i) and (ii) of this clause (j), investments equivalent to those
referenced in clauses (a) through (f) above denominated in foreign currencies and used by the Company for cash management purposes in the ordinary course of business consistent with past practice to the extent guaranteed, issued, accepted or
offered by (x) any country in which such Foreign Subsidiary operates or is organized or (y) any commercial bank organized under the laws of the jurisdiction in which such Foreign Subsidiary operates or is organized, as applicable, in each
case without regard to any minimum rating or capital requirement specified in clauses (a) through (i) above. 
 “Cash
Management Obligations”: any obligation of the Company or any of its Subsidiaries in respect of (i) cash netting, overdrafts and related liabilities that arise from treasury, depositary or cash pooling or management services including
in connection with any automated clearing house transfers of funds or any similar transactions including in connection with deposit accounts and (ii) credit, debit, travel and expense, corporate purchasing and/or other purchasing cards issued
to or for the benefit or account of the Company or any of its Subsidiaries or their respective employees. For the avoidance of doubt, the parties agree that any Cash Management Obligation that was permitted to be entered into or designated as a Cash
Management Obligation under this Agreement at the time such obligation was entered into or so designated shall continue to be secured by the Collateral even though a limitation under this Agreement may be exceeded solely as a result of a change in
the currency exchange rates from the currency exchange rates applicable at the time such Cash Management Obligation was entered into or designated. 

“Cash Pooling Agreement”: any agreement, substantially in the form of (a) the Cash Pool Agreement dated
February 21, 2019, between LeeWrangler Belgium Services BVBA and Bank Mendes Gans, N.V. (the “Existing Pooling Agreement”), by and among Company and/or any of its Subsidiaries, on the one hand, and one or more banks or similar
financing institutions, on the other hand, together with any documents evidencing or governing any obligations relating thereto (including any guarantee agreements and security documents contemplated by or customary in connection with the Existing
Pooling Agreement) or (b) any other cash pooling arrangement or agreement listed in Schedule 1.1D, in each case as such agreements may be amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to
time, including any agreement extending the maturity of, refinancing, replacing or otherwise restructuring, in whole or in part, obligations (or adding Subsidiaries as additional parties or other Subsidiaries as guarantors thereunder) under any such
agreement or any successor or replacement agreement and whether by the same or any other bank or similar financing institution or group of banks or similar financing institutions; provided that any such amendment, restatement, supplement or
modification, extension, refinancing, replacement or other agreement is limited to the provision of a cash management system or systems for the Foreign Subsidiaries of the Company and will not create any Indebtedness, or Lien on the property, of the
Company or any of its Subsidiaries for any other purpose. The Cash Pooling Agreements provide a cash management system for Subsidiaries of the Company, and obligations of Subsidiaries thereunder may be guaranteed by the Company and its Subsidiaries.

 “CDO Rate”: with respect to any CDOR Loan for any Interest Period, the average rate for bankers acceptances denominated
in Canadian Dollars with a term equal to the relevant Interest Period as displayed on the on the “Reuters Screen CDOR Page” as defined in the International Swap Dealer Association, Inc. definitions, as modified and amended from time to
time (or, in the event such rate does not appear on such page or screen, on the appropriate page of such other information service that 

  
 8 

 
publishes such rate, as shall be selected by the Administrative Agent from time to time in its reasonable discretion, in consultation with the Company, in each case, the “CDOR Screen
Rate”) (rounded if necessary to the nearest 1/100 of 1% (with 0.005% being rounded up)) as of 10:15 a.m. Toronto time on the first day of the relevant Interest Period; provided that if the CDOR Screen Rate shall be less than zero, such rate
shall be deemed to be zero for the purposes of this Agreement; provided, further, that, if the applicable CDOR Screen Rate shall not be available at such time for such Interest Period (a “CDOR Impacted Interest Period”), then the
CDO Rate shall be the CDOR Interpolated Rate at such time. “CDOR Interpolated Rate” means, at any time, the rate per annum determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest
error) to be equal to the rate that results from interpolating on a linear basis between: (a) the applicable CDOR Screen Rate for the longest period (for which that CDOR Screen Rate is available) that is shorter than the CDOR Impacted Interest
Period and (b) the applicable CDOR Screen Rate for the shortest period (for which that CDOR Screen Rate is available) that exceeds the CDOR Impacted Interest Period, in each case, at such time; provided that if any CDOR Interpolated Rate shall
be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 
 “CDOR Loans”: Loans denominated
in Canadian Dollars the rate of interest applicable to which is determined by reference to the CDO Rate. 
 “CFC”: each
Person that is a “controlled foreign corporation” as defined in Section 957 of the Code. 
 “CFC Holding
Company”: a Person, substantially all of the assets of which consist of (i) cash or Cash Equivalents and/or (ii) Capital Stock or debt that is treated as equity for United States federal income tax purposes of (a) one or more
CFCs or (b) one or more CFC Holding Companies. 
 “Change of Control”: as defined in Section 8(k). 

“Class”: (a) when used with respect to any Lender, refers to whether such Lender has a Loan or Commitment with respect to a
particular Class of Loans or Commitments, (b) when used with respect to Commitments, refers to whether such Commitments are Revolving Commitments, Extended Revolving Commitments of a given Extension Series, Extended Term Loans of a given
Extension Series, Tranche A Term Commitments, Tranche B Term Commitments, Incremental Commitments or Refinancing Term Commitments of a given Refinancing Series and (c) when used with respect to Loans or a borrowing, refers to whether such
Loans, or the Loans comprising such borrowing, are Revolving Loans, Incremental Revolving Loans, Revolving Loans under Extended Revolving Commitments of a given Extension Series, Revolving Loans under Other Revolving Commitments, Tranche A Term
Loans, Tranche B Term Loans, Incremental Term Loans, Refinancing Term Loans of a given Refinancing Series or Extended Term Loans of a given Extension Series. Revolving Commitments, Extended Revolving Commitments, Incremental Commitments, Other
Revolving Commitments, Tranche A Term Commitments, Tranche B Term Commitments, or Refinancing Term Commitments (and in each case, the Loans made pursuant to such Commitments) that have different terms and conditions shall be construed to be in
different Classes. Commitments (and, in each case, the Loans made pursuant to such Commitments) that have the same terms and conditions shall be construed to be in the same Class. 

“Closing Date”: the date on which the conditions precedent set forth in Section 5.1 are satisfied or waived in
accordance with Section 10.1. 
 “Closing Date Cash Transfer”: as defined in the recitals. 

  
 9 

 “CNI Growth Amount”: at any date of determination, an amount (which amount
shall not be less than zero) equal to 50% of Consolidated Net Income for the cumulative period from the first day of the fiscal quarter of the Company during which the Closing Date occurs to and including the last day of the most recently ended
fiscal quarter of the Company for which financial statements have been delivered pursuant to Section 6.1 (treated as one accounting period). 

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

“Co-Documentation Agents”: BNP Paribas, Citibank, N.A., ING Bank N.V., Dublin Branch,
PNC Bank, National Association, Santander Bank, N.A. and Suntrust Bank. 
 “Co-Syndication
Agents”: Bank of America, N.A., Barclays Bank PLC, HSBC Bank USA, National Association and Wells Fargo Bank, National Association. 

“Collateral”: all property of the Loan Parties, now owned or hereafter acquired, upon which a Lien is or is purported to be
created by any Security Document. 
 “Collateral Agent”: JPMorgan Chase Bank, N.A. 

“Collateral Agreement”: the Collateral Agreement dated as of the Closing Date executed and delivered by each Domestic
Borrower and each Subsidiary Guarantor pursuant to this Agreement, a copy of which is attached hereto as Exhibit A-2, as the same may be amended, supplemented or otherwise modified from time to time. 

“Commitment”: as to any Lender, the sum of the Tranche A Term Commitment, the Tranche B Term Commitment and the Revolving
Commitment of such Lender. 
 “Commitment Fee Rate”: 0.30% per annum; provided that on and after the first Adjustment Date
occurring after the completion of the first full fiscal quarter ending after the Closing Date, the Commitment Fee Rate will be determined pursuant to the Pricing Grid. 

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

“Company”: as defined in the preamble hereto. 

“Company Stock”: Capital Stock of the Company that constitutes “margin stock” within the meaning of
Regulation U. 
 “Compliance Certificate”: a certificate duly executed by a Responsible Officer substantially in the form
of Exhibit B. 
 “Consolidated EBITDA”: for any period, Consolidated Net Income for such period; plus, without duplication
and, to the extent deducted (and not added back) (or, in the case of clauses (g), (l) and (n), to the extent not included) in calculating Consolidated Net Income for such period, the sum of: 

(a) income tax expense, 
 (b)
Consolidated Interest Expense, amortization or writeoff of debt discount and debt issuance costs and commissions, discounts and other fees, charges and expenses associated with Indebtedness (including with respect to the Loans and Indebtedness
incurred in connection with the Transactions), 

  
 10 

 (c) depreciation and amortization expense and impairment charges, 

(d) all premiums and interest rate hedge termination costs in connection with any purchase or redemption of any Indebtedness, 

(e) any other non-cash charges (excluding any such charge that constitutes an accrual of or a reserve
for cash charges for any future period), 
 (f) restructuring charges and related charges, 

(g) (i) pro forma adjustments, “run rate” cost savings, operating expense reductions and cost synergies, in each case, related to any
Specified Transaction consummated by the Company or any of its Subsidiaries and projected by the Company in good faith to result from actions taken or expected to be taken (in the good faith determination of the Company) within 18 months after the
date any such Specified Transaction is consummated, and (ii) any pro forma adjustments, “run rate” cost savings, operating expense reductions and cost synergies projected by the Company in good faith to result from actions either
taken or expected to be taken (including in connection with any restructuring initiative, cost savings initiative, new initiative, business optimization activities, cost rationalization programs and/or similar initiatives or programs) within 18
months after the date of determination to take such action (any such pro forma adjustments, “run rate” cost savings, operating expense reductions or synergies set forth in clauses (i) and (ii), “Expected Cost
Savings”) (in each case, calculated on a Pro Forma Basis as though the full recurring benefit of such Expected Cost Savings had been realized in full on the first day of such period); provided that (A) such Expected Cost Savings are
reasonably identifiable and factually supportable, (B) no Expected Cost Savings shall be added pursuant to this clause (g) to the extent duplicative of any expenses or charges relating to such Expected Cost Savings that are included in
clause (a) through (f) above or (h) through (s) below and (C) the aggregate amount of all adjustments pursuant to this clause (g) (other than to the extent permitted under Regulation S-X, which
shall not be subject to the cap set forth in this proviso) shall not exceed 25% of Consolidated EBITDA (such percentage calculated before any amounts are added to Consolidated EBITDA pursuant to this clause (g)), 

(h) cash expenses relating to customary earn outs and similar obligations to the extent constituting Indebtedness; 

(i) fees and the amount of loss or discount on the sale of accounts receivables and related assets in connection with a Permitted Receivables
Financing; 
 (j) any charge with respect to any liability or casualty event, business interruption or any product recall, (i) so long
as such Person has submitted in good faith, and reasonably expects to receive payment in connection with, a claim for reimbursement of such amounts under its relevant insurance policy within the next four fiscal quarters (with a deduction in the
applicable future period for any amount so added back to the extent not so reimbursed within the next four fiscal quarters) or (ii) without duplication of amounts included in a prior period under the preceding clause (i), to the extent
such charge is covered by insurance, indemnification or otherwise reimbursable by a third party (whether or not then realized so long as the Company in good faith expects to receive proceeds arising out of such insurance, indemnification or
reimbursement obligation within the next four fiscal quarters) (it being understood that if the amount received in cash under any such agreement in any period exceeds the amount of expense paid during such period, any excess amount received may be
carried forward and applied against any expense in any future period); 

  
 11 

 (k) unrealized net losses in the fair market value of any arrangements under Hedge
Agreements; 
 (l) the amount of any cash actually received by such Person (or the amount of the benefit of any netting arrangement resulting
in reduced cash expenditures) during such period, and not included in Consolidated Net Income in any period, to the extent that any non-cash gain relating to such cash receipt or netting arrangement was
deducted in the calculation of Consolidated EBITDA for any previous period and not added back; 
 (m) the amount of any non-controlling interest or minority interest charge consisting of income attributable to minority equity interests of third parties in any non-Wholly Owned Subsidiary; 

(n) any other adjustments, exclusions and add-backs reflected in the financial model delivered to the
Arrangers on or about March 17, 2019 (the “Company Model”); 
 (o) charges, expenses and costs in anticipation of, or
preparation for, standalone compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and charges, expenses and costs in anticipation of, or preparation for, compliance with
the provisions of the Securities Act of 1933, as amended, and the Exchange Act, as applicable to companies with equity or debt securities held by the public and the rules of national securities exchange for companies with listed equity or debt
securities, including listing fees; 
 (p) any costs, expenses, fees, fines, penalties, judgments, legal settlements and other amounts
associated with any restructuring, litigation, claim, proceeding or investigation related to or undertaken by the Company or any of its subsidiaries, together with any related provision for taxes; 

(q) consulting fees, advisory fees, financing fees incurred and taxes incurred or accrued in connection with the Distribution; 

(r) costs and expenses incurred in connection with the preparation, negotiation and delivery of the Loan Documents; and 

(s) any net charge with respect to (i) any disposed, abandoned, divested and/or discontinued asset, property or operation (other than, at
the option of the Company, any asset, property or operation pending the disposal, abandonment, divestiture and/or termination thereof), (ii) any disposal, abandonment, divestiture and/or discontinuation of any asset, property or operation (other
than, at the option of the Company, relating to assets or properties held for sale or pending the divestiture or discontinuation thereof) and/or (iii) any facility that has been closed during such period; 

minus, to the extent taken into account in calculating Consolidated Net Income for such period, the sum of (a) interest income,
(b) any non-cash income and (c) unrealized net gains in the fair market value of any arrangement under Hedge Agreements, all as determined on a consolidated basis. 

Notwithstanding anything to the contrary herein, it is agreed that for the purpose of calculating the Total Leverage Ratio, the First Lien
Leverage Ratio, the Consolidated Interest Coverage Ratio and the Senior Secured Leverage Ratio and/or the amount of any basket based on a percentage of Consolidated EBITDA for any period that includes the fiscal quarters ended March 31, 2018,
June 30, 2018, September 29, 2018 and December 29, 2018, aggregate Consolidated EBITDA for the four consecutive fiscal quarters ended December 29, 2018 shall be deemed to be $385,600,000. 

  
 12 

 “Consolidated First Lien Net Debt”: as to any Person at any date of
determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on the Collateral. 

“Consolidated Interest Coverage Ratio”: with respect to any Test Period, the ratio of (a) Consolidated EBITDA of the
Company and its Subsidiaries for such Test Period to (b) Consolidated Interest Expense of the Company and its Subsidiaries for such Test Period. 

“Consolidated Interest Coverage Ratio Financial Covenant”: the covenant set forth in Section 7.1(b). 

“Consolidated Interest Expense”: for any period, total cash interest expense of the Company and its Subsidiaries for such
period determined in accordance with GAAP (excluding, to the extent otherwise included in such interest expense, (i) all premiums and interest rate hedge termination costs in connection with any purchase or redemption of any Indebtedness,
(ii) any fees, including upfront fees, and any other fees and expenses associated or paid in connection with this Agreement or the consummation of the Transaction, (iii) annual agency fee, paid to the Administrative Agent, (iv) fees
and expenses associated with any Investment permitted pursuant to Section 7.8 or any issuance of Capital Stock or Indebtedness permitted hereunder (whether or not consummated), (v) any interest component relating to the accretion or accrual of
discounted liabilities and (vi) any writeoff of unamortized debt issuance costs upon any prepayment of any Indebtedness), net of cash interest income. Notwithstanding the foregoing, in the event that Company or a Subsidiary has entered into an
operating lease in connection with a Permitted Sale/Leaseback, then Consolidated Interest Expense for any period shall be deemed to be increased by the interest component of lease payments under such operating lease made during such period. 

“Consolidated Net Income”: for any period, the consolidated net income (or loss) of the Company and its Subsidiaries,
determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded, without duplication: 
 (a) the income (or
deficit) of any Person accrued prior to the date it becomes a Subsidiary of the Company or is merged into or consolidated with the Company or any of its Subsidiaries; 

(b) the income (or deficit) of any Person (other than a Subsidiary of the Company) in which the Company or any of its Subsidiaries has an
ownership interest, except to the extent that any such income is actually received by the Company or such Subsidiary in the form of dividends or similar distributions; 

(c) the undistributed earnings of any Subsidiary of the Company (other than a Loan Party) to the extent that the declaration or payment of
dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of any Contractual Obligation (other than under any Loan Document) or Requirement of Law applicable to such Subsidiary; 

(d) any goodwill or other asset impairment charges, write-offs or write-downs or amortization of intangibles; 

(e) any gain or charge attributable to any asset Disposition (including asset retirement costs or sales or issuances of Capital Stock) or of
returned or surplus assets outside the ordinary course of business (as determined in good faith by such Person); 

  
 13 

 (f) (i) any unrealized or realized net foreign currency transactional gains or charges
impacting net income (including currency re-measurements of Indebtedness, any net gains or charges resulting from Hedge Agreements for currency exchange risk associated with the above or any other currency
related risk, any transactional gains or charges relating to assets and liabilities denominated in a currency other than a functional currency and those resulting from intercompany Indebtedness), (ii) any realized or unrealized gain or charge in
respect of (x) any obligation under any Hedge Agreement as determined in accordance with GAAP and/or (y) any other derivative instrument pursuant to, in the case of this clause (y), Financial Accounting Standards Board’s Accounting
Standards Codification No. 815-Derivatives and Hedging and (iii) unrealized gains or losses in respect of any Hedge Agreement; 

(g) any net income or charge (less all fees and expenses related thereto) attributable to (i) the early extinguishment or cancellation of
Indebtedness or (ii) any derivative transaction under a Hedge Agreement; 
 (h) non-cash
expenses resulting from any employee benefit or management compensation plan or grant of stock and stock options or other equity and equity-based interests to employees of the Company or any Subsidiary pursuant to a written plan or agreement
(including expenses arising from the grant of stock and stock options prior to the Closing Date) or the treatment of such options or other equity and equity-based interests under variable plan accounting; 

(i) any charge that is established, adjusted and/or incurred (i) within 12 months after the closing of any acquisition that is required to
be established, adjusted or incurred, as applicable, as a result of such acquisition in accordance with GAAP or (ii) as a result of any change in, or the adoption or modification of, accounting principles or policies; 

(j) any (i) write-off or amortization made in such period of deferred financing costs and premiums
paid or other expenses incurred directly in connection with any early extinguishment of Indebtedness, (ii) amortization of intangible assets and (iii) other amortization (including amortization of goodwill, software, deferred or
capitalized financing fees, debt issuance costs, commissions and expenses and other intangible assets); 
 (k) fees, costs and expenses
incurred, or amortization thereof, in connection with, to the extent permitted hereunder, any Investment, any issuance of debt or equity, any Disposition, any casualty event or any amendments or waivers of the Loan Documents, and refinancing,
refunding, renewals or extensions permitted hereunder in connection therewith, in each case, whether or not consummated; 
 (l) non-cash compensation charges and/or any other non-cash charges arising from the granting of any stock, stock option or similar arrangement (including any profits interest) or
the granting of any restricted stock, stock appreciation right and/or similar arrangement (including any repricing, amendment, modification, substitution or change of any such stock option, restricted stock, stock appreciation right, profits
interest or similar arrangement or the vesting of any warrant); 
 (m) the effects of adjustments (including the effects of such adjustments
pushed down to the Company and its subsidiaries) in component amounts required or permitted by GAAP (including, without limitation, in the inventory (including any impact of changes to inventory valuation policy methods, including changes in
capitalization of variances), property and equipment, lease, rights fee arrangements, software, goodwill, intangible asset (including customer molds), in-process research and development, deferred revenue,
advanced billing and debt line items thereof), resulting from the application of recapitalization accounting or acquisition or purchase accounting, as the case may be, in relation to the Transactions or any consummated acquisition or similar
Investment or the amortization or write-off of any amounts thereof (including any write-off of in process research and development); and 

(n) any extraordinary, exceptional or nonrecurring gains or losses. 

  
 14 

 “Consolidated Scheduled Funded Debt Payments”: as of any date
for the applicable Excess Cash Flow Period with respect to the Company and its Subsidiaries on a consolidated basis, the sum of all scheduled payments of principal on Indebtedness made in cash during such period (including the implied principal
component of payments due on Capital Lease Obligations during such period). 
 “Consolidated Total Assets”: at any date,
all amounts that would, in conformity with GAAP, be set forth opposite the caption “total assets” (or any like caption) on a consolidated balance sheet of the Company and its Subsidiaries at such date. 

“Consolidated Total Debt”: at any date, the aggregate principal amount of debt of the Company and its Subsidiaries at such
date in an amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application of purchase accounting
in connection with any permitted Investment), consisting of Indebtedness for borrowed money, obligations evidenced by notes, bonds (excluding surety bonds), debentures or similar instruments (other than an operating lease, synthetic lease or similar
arrangement), purchase money indebtedness and Capital Lease Obligations. 
 “Contingent Purchase Price Obligations”: any
earnout obligations or similar deferred or contingent purchase price obligations of the Company or any of its Subsidiaries incurred or created in connection with any acquisition to the extent such obligations are a liability on the consolidated
balance sheet of the Company in accordance with GAAP. 
 “Continuing Directors”: the directors of the Company on the
Closing Date, the initial directors of the Company set forth in the Form 10, and each other director, if, in each case, such other director’s nomination for election to the board of directors of the Company is recommended or approved by at
least a majority of the then Continuing Directors. 
 “Contractual Obligation”: as to any Person, any provision of any
security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Covered Agreement”: as defined in Section 7.13(c). 

“Credit Agreement Refinancing Indebtedness”: Indebtedness constituting (a) Permitted First Priority Refinancing Debt,
(b) Permitted Junior Lien Refinancing Debt or (c) Permitted Unsecured Refinancing Debt; provided that (i) such Indebtedness shall not have a greater principal amount than the principal amount (or accreted value, if applicable) of the
Refinanced Debt except by an amount equal to (x) unpaid accrued interest, penalties and premiums (including tender, prepayment or repayment premiums) thereon plus underwriting discounts and other customary fees, commissions and expenses
(including upfront fees, original issue discount or initial yield payment) incurred in connection with such refinancing, (y) any existing commitments unutilized thereunder and (z) additional amounts permitted to be incurred under
Section 7.2 and, to the extent secured by a Lien, Section 7.3 (and, in each case, the applicable clause of Section 7.2 and Section 7.3 shall be deemed to be utilized by the amount so incurred), (ii) the other terms and conditions
of such Indebtedness shall not be materially more restrictive (taken as a whole) on the Company and its Subsidiaries (as determined by the Company in good faith) than those applicable to the Refinanced Debt being refinanced or replaced (except for
covenants or other provisions (I) that reflect market terms and conditions (taken as a whole) at the time of incurrence (as determined by the Company in good faith), (II) that are reasonably satisfactory to the Administrative Agent,
(III) that are applicable only to periods after the Latest Maturity Date at the time of incurrence of 

  
 15 

 
such Indebtedness or (IV) that are also added for the benefit of each Facility remaining outstanding (limited, in the case of any financial maintenance covenant for the benefit of any Credit
Agreement Refinancing Indebtedness in respect of the Tranche A Term Facility or the Revolving Facility, to any then-existing Tranche A Term Facility and Revolving Facility), and (iii) such Refinanced Debt shall be repaid, repurchased, retired,
defeased or satisfied and discharged, all accrued interest, fees, premiums (if any) and penalties in connection therewith shall be paid, and all commitments thereunder terminated, on the date such Credit Agreement Refinancing Indebtedness is issued,
incurred or obtained. 
 “Credit Party”: the Administrative Agent, any Issuing Lender, the Swingline Lender or any other
Lender. 
 “Declined Proceeds”: as defined in Section 2.13(e). 

“Default”: any of the events specified in Section 8, whether or not any requirement for the giving of notice, the lapse
of time, or both, has been satisfied. 
 “Defaulting Lender”: any Lender that (a) has failed to (i) fund all or
any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Company in writing that such failure is the result of such Lender’s
determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the
Administrative Agent, any Issuing Lender, the Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline Loans) within two Business Days of
the date when due, (b) has notified the Company, the Administrative Agent or any Issuing Lender or the Swingline Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that
effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition
precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Company,
to confirm in writing to the Administrative Agent and the Company that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt
of such written confirmation by the Administrative Agent and the Company), or (d) has, or has a direct or indirect company that has, (i) become the subject of any bankruptcy or insolvency proceeding, (ii) become the subject of a Bail-In Action or (iii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its
business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity (but excluding any receiver, custodian, conservator, trustee, administrator or similar Person
appointed by a regulatory authority under or based on the applicable law in the country where such Person is subject to home jurisdiction supervision if applicable law requires that such appointment is not to be publicly disclosed); provided that a
Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect company thereof by a Governmental Authority so long as such ownership interest does not result
in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding
absent manifest error, and such Lender shall be deemed to be a Defaulting Lender) upon delivery of written notice of such determination to the Company, each Issuing Lender, the Swingline Lender and each Lender. 

  
 16 

 “Disposition”: with respect to any property or right, any sale, lease, sale
and leaseback, assignment, conveyance, transfer or other disposition thereof (other than any transaction for purposes of collateral or security to the extent permitted hereunder). The terms “Dispose” and “Disposed of” shall have
correlative meanings. 
 “Designated Non-Cash Consideration”: the fair market value
(as determined by the Company in good faith) of non-cash consideration received by the Company or any Subsidiary in connection with any Disposition pursuant to Section 7.5(h) that is designated as
Designated Non-Cash Consideration by a Responsible Officer of the Company (which amount will be reduced by the amount of cash or Cash Equivalents received in connection with a subsequent sale or conversion of
such Designated Non-Cash Consideration to cash or Cash Equivalents). 
 “Disqualified
Capital Stock”: any Capital Stock of the Company which is not Qualified Capital Stock. Notwithstanding the preceding sentence, (A) if such Capital Stock is issued pursuant to any plan for the benefit of directors, officers, employees,
members of management, managers or consultants or by any such plan to such directors, officers, employees, members of management, managers or consultants, in each case in the ordinary course of business of Borrowers or any Subsidiary, such Capital
Stock shall not constitute Disqualified Capital Stock solely because it may be required to be repurchased by the issuer thereof in order to satisfy applicable statutory or regulatory obligations and (B) no Capital Stock held by any Permitted
Payee shall be considered Disqualified Capital Stock because such stock is redeemable or subject to repurchase pursuant to any management equity subscription agreement, stock option, stock appreciation right or other stock award agreement, stock
ownership plan, put agreement, stockholder agreement or similar agreement that may be in effect from time to time. 
 “Disqualified
Lender”: (i) competitors of the Company and its Subsidiaries identified from time to time to the Administrative Agent, (ii) persons identified to the Arrangers prior to April 30, 2019 and (iii) in each case of clauses
(i) and (ii), any of such person’s Affiliates that are (x) clearly identifiable solely by similarity of name or (y) identified in writing by the Company from time to time to the Administrative Agent; provided that,
notwithstanding anything herein to the contrary, (A) in no event shall a supplement apply retroactively to disqualify any parties that have previously acquired an assignment or participation interest in any Loans or Commitments under the
Facilities that is otherwise permitted hereunder and (B) no supplements shall become effective until three Business Days after delivery by the Company to the Administrative Agent of such supplement by electronic mail to
JPMDQ_Contact@jpmorgan.com. 
 “Distribution”: as defined in the recitals. 

“Dollar Equivalent”: at any time as to any amount denominated in a Foreign Currency, the equivalent amount in U.S. Dollars as
determined by the Administrative Agent at such time on the basis of the Exchange Rate for the purchase of U.S. Dollars with such Foreign Currency on the most recent Calculation Date for such Foreign Currency. 

“Dollar Revolving Loans”: as defined in Section 2.6(a). 

“Domestic Borrower”: the Company and any Domestic Subsidiary Borrower. 

  
 17 

 “Domestic Funding Office”: the Administrative Agent’s office located
at 10 S. Dearborn Street, Chicago, IL 60623, or such other office as may be designated by the Administrative Agent by written notice to the Company and the Lenders. 

“Domestic Loan Party”: each Domestic Borrower and each other Loan Party that is a Domestic Subsidiary. 

“Domestic Obligations”: as defined in Section 10.22. 

“Domestic Subsidiary”: any Subsidiary of the Company organized under the laws of the United States or any state thereof or
the District of Columbia. 
 “Domestic Subsidiary Borrower”: any Subsidiary Borrower that is a Domestic Subsidiary. 

“ECF Calculation Year”: as defined in “Excess Cash Flow”. 

“ECF Percentage”: 50%; provided, that, with respect to any fiscal year of the Company ending after the Closing Date, the ECF
Percentage shall be reduced to (a) 25% if the Senior Secured Leverage Ratio as of the last day of such fiscal year is less than 2.25 to 1.00 but greater than 1.75 to 1.00 and (b) 0% if the Senior Secured Leverage Ratio as of the last day of such
fiscal year is not greater than 1.75 to 1.00. 
 “ECF Prepayment Amount”: as defined in Section 2.13(c). 

“ECF Threshold”: as defined in Section 2.13(c). 

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

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

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

“EMU”: Economic and Monetary Union as contemplated in the Treaty. 

“Environmental Laws”: as to any Person, any and all Requirements of Law (including common law) regulating, relating to or
imposing liability or standards of conduct concerning protection of human health (solely as it relates to exposure to Materials of Environmental Concern) or the environment, as now or may at any time hereafter be in effect. 

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

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

  
 18 

 “EURIBOR Rate”: the euro interbank offered rate administered by the
European Money Markets Institute (or any other person which takes over the administration of that rate) for the relevant period displayed (before any correction, recalculation or republication by the administrator) on page EURIBOR01 of the Thomson
Reuters screen (or any replacement Thomson Reuters page which displays that rate) or on the appropriate page of such other information service which publishes that rate from time to time in place of Thomson Reuters as of 11:00 a.m. Brussels time two
TARGET days prior to the commencement of such Interest Period. If such page or service ceases to be available, the Administrative Agent may specify another page or service displaying the relevant rate after consultation with the Company. If the
EURIBOR Rate shall be less than zero, the EURIBOR Rate shall be deemed to be zero for purposes of this Agreement; provided, further, that, if the applicable EURIBOR Rate shall not be available at such time for such Interest Period (an
“EURIBOR Impacted Interest Period”), then the EURIBOR Rate shall be the EURIBOR Interpolated Rate at such time. “EURIBOR Interpolated Rate” means, at any time, the rate per annum determined by the
Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the applicable EURIBOR Rate for the longest period (for
which that EURIBOR Rate is available) that is shorter than the EURIBOR Impacted Interest Period and (b) the applicable EURIBOR Rate for the shortest period (for which that EURIBOR Rate is available) that exceeds the EURIBOR Impacted Interest
Period, in each case, at such time; provided that if any EURIBOR Interpolated Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Euro”: the single currency of Participating Member States introduced in accordance with the provisions of Article 109(1)4 of
the Treaty and, in respect of all payments to be made under this Agreement in Euro, means immediately available, freely transferable funds. 

“Eurocurrency liabilities”: as defined in Section 2.20(e). 

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

“Eurodollar Rate”: with respect to any Eurodollar Loan (i) denominated in U.S. Dollars or any Foreign Currency other than
Euros for any Interest Period, the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for the relevant currency for a period equal in length to such
Interest Period as displayed on page LIBOR01 or LIBOR02 of the Reuters Screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such
rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion, in consultation with the Company, in each case, the
“Eurodollar Screen Rate”, and together with the CDOR Screen Rate and the EURIBOR Rate, the “Screen Rate”) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period
(or, in the case of any Eurodollar Loan denominated in Pounds Sterling, on the first day of such Interest Period); provided that if the applicable Eurodollar Screen Rate shall be less than zero, such rate shall be deemed to be zero for the purposes
of this Agreement; provided, further, that, if the applicable Eurodollar Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) with respect to the relevant currency, then applicable
Eurodollar Rate shall be the Interpolated Rate at such time and (ii) denominated in Euros for any Interest Period, an interest rate per annum equal to the EURIBOR Rate in effect for such Interest Period. “Interpolated Rate” means,
at any time, the rate per annum (rounded to the same number of decimal places as the Eurodollar Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate
that results from interpolating on a linear basis between: (a) the applicable Eurodollar Screen Rate for the longest 

  
 19 

 
period (for which that Eurodollar Screen Rate is available in the relevant currency) that is shorter than the Impacted Interest Period and (b) the applicable Eurodollar Screen Rate for the
shortest period (for which that Eurodollar Screen Rate is available for the relevant currency) that exceeds the Impacted Interest Period, in each case, at such time; provided that if any Interpolated Rate shall be less than zero, such rate shall be
deemed to be zero for purposes of this Agreement. 
 “Eurodollar Tranche”: the collective reference to Eurodollar Loans
under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). 

“Event of Default”: any of the events specified in Section 8; provided that any requirement for the giving of notice,
the lapse of time, or both, has been satisfied. 
 “Excess Cash Flow”: for any fiscal year, an amount equal to: 

(a) the sum, without duplication, of: 

(i) Consolidated Net Income for such fiscal year, adjusted to exclude any gains or losses attributable to Asset Sale or
Recovery Events or the incurrence by the Company or any Subsidiary of any Indebtedness (other than any Indebtedness permitted to be incurred under Section 7.2); 

(ii) depreciation, depletion, amortization and other non-cash charges, expenses or
losses, including the non-cash portion of interest expense or any deferred tax expense, deducted in determining such consolidated net income or loss for such fiscal year; 

(iii) the sum of (x) the amount, if any, by which Net Working Capital decreased during such fiscal year (except as a
result of the reclassification of items from short-term to long-term or vice-versa) and (y) the net amount, if any, by which the consolidated deferred revenues of the Company and its consolidated Subsidiaries increased during such fiscal year;

 (iv) income tax expense, including penalties and interest, to the extent deducted in determining Consolidated Net Income
for such period; and 
 (v) cash inflows in respect of Hedge Agreements during such fiscal year to the extent they exceed the
amount of expenditures expensed in determining Consolidated Net Income for such period; minus 
 (b) the sum, without duplication, of: 

(i) the amount of all non-cash gains included in arriving at such Consolidated Net
Income for such fiscal year; 
 (ii) the sum of (x) the amount, if any, by which Net Working Capital increased during
such fiscal year (except as a result of the reclassification of items from long-term to short-term or vice-versa) and (y) the net amount, if any, by which the consolidated deferred revenues of the Company and its consolidated Subsidiaries
decreased during such fiscal year; 

  
 20 

 (iii) without duplication of any amounts that would reduce any Excess Cash
Flow payment pursuant to Section 2.13(c), the sum of, in each case except to the extent financed with Long-Term Indebtedness, (x) the aggregate amount of Restricted Payments by the Company made in cash for such fiscal year pursuant to
Section 7.6(b), (c), (g) (solely to the extent attributable to clause (a)(i) of the definition of Available Amount), (h) and (o), (y) the aggregate amount of cash consideration paid during such fiscal year by the Company and its consolidated
Subsidiaries to make acquisitions permitted by Section 7.8(j) and other Investments permitted pursuant to Section 7.8(d), (g), (j), (k), (l) (solely to the extent attributable to clause (a)(i) of the definition of Available Amount), (q),
(u), (ee), (gg), (oo) and (rr) (including contracted acquisitions and other Investments permitted pursuant to such Sections so long as (1) such amounts are contractually committed by the last day of the Company’s fiscal year for which
Excess Cash Flow is being calculated (the “ECF Calculation Year”), (2) such amounts are utilized (and, for the avoidance of doubt, shall not be deducted when used) during the fiscal year immediately following such ECF Calculation
Year and (3) any amounts not utilized during the fiscal year immediately following such ECF Calculation Year shall be included in the calculation of Excess Cash Flow for the fiscal year immediately following such ECF Calculation Year) and
(z) payments in cash made by the Company and its consolidated Subsidiaries with respect to any noncash charges added back pursuant to clause (a)(ii) above in computing Excess Cash Flow for any prior fiscal year; 

(iv) Consolidated Scheduled Funded Debt Payments (except to the extent financed with Long-Term Indebtedness); 

(v) (x) income taxes, including penalties and interest, and (y) payments and other contributions to employee pension
benefit, retirement or similar plans, in each case paid in cash during such period; 
 (vi) the aggregate amount of voluntary
or mandatory permanent principal payments or mandatory repurchases, in each case, made in cash of (A) any Indebtedness and (B) the principal component of payments in respect of Capital Lease Obligations (in each case, excluding (x)(i) the
Consolidated Scheduled Funded Debt Payments, (ii) Revolving Loans (including Incremental Revolving Loans), (iii) Term Loans, (including Loans under Incremental Term Facilities) and (iv) Incremental Equivalent Debt, Credit Agreement
Refinancing Indebtedness, Refinancing Term Loans, Other Revolving Loans, Ratio Debt, Incurred Acquisition Debt and any other Indebtedness permitted under Section 7.2, in each case under this clause (iv), to the extent such debt is secured by a
Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations and (y) any payments or repurchases of revolving loans to the extent not accompanied by a permanent reduction in
the commitments in respect thereof); 
 (vii) the aggregate amount of any premium, make-whole or penalty payments actually
paid in cash during such period that are required to be made in connection with any prepayment or satisfaction and discharge of Indebtedness (except to the extent financed with Long-Term Indebtedness) to the extent that the amount so prepaid,
satisfied or discharged is not deducted from Consolidated Net Income for purposes of calculating Excess Cash Flow; 
 (viii)
cash payments made (to the extent not deducted in arriving at Consolidated Net Income) in satisfaction of noncurrent liabilities (excluding payments of Indebtedness for borrowed money) not made directly or indirectly using proceeds, payments or any
other amounts available from events or circumstances that were not included in determining Consolidated Net Income during such period; 

(ix) to the extent not expensed (or exceeding the amount expensed) during such period or not deducted (or exceeding the amount
deducted) in calculating Consolidated Net Income, the aggregate amount of any fee, loss, charge, expense, cost, accrual or reserve of any kind paid or payable in cash by the Company and its Subsidiaries during such period; 

  
 21 

 (x) amounts paid in cash (except to the extent financed with Long-Term
Indebtedness) during such period on account of (A) items that were accounted for as non-cash reductions of Consolidated Net Income in a prior period and (B) reserves or amounts established in
purchase accounting to the extent such reserves or amounts are added back to, or not deducted from, Consolidated Net Income; 

(xi) the amount of any payment of cash to be amortized or expensed over a future period and recorded as a long-term asset; 

(xii) the amount of any tax obligation of the Company and/or any Subsidiary that is estimated in good faith by the Company as
due and payable not later than the fiscal year immediately following such fiscal year (but is not currently due and payable) by the Company and/or any Subsidiary as a result of the repatriation (or deemed repatriation) of any dividend or similar
distribution of net income of any Foreign Subsidiary to the Company and/or any Subsidiary; provided that the amount of any such tax obligation shall be included in the calculation Excess Cash Flow for any subsequent fiscal year during which
(A) the Company determines such tax obligation is not payable or (B) such tax obligation is paid; and 
 (xiii)
cash expenditures in respect of Hedge Agreements during such fiscal year to the extent they exceed the amount of expenditures expensed in determining Consolidated Net Income for such period. 

“Excess Cash Flow Application Date”: for any prepayment pursuant to Section 2.13(c), the date no later than five
Business Days after the earlier of (A) the date on which financial statements of the Company referred to in Section 6.1(a) for the fiscal year with respect to which such prepayment is made are required to be delivered to the Administrative
Agent and (B) the date the financial statements referred to in clause (A) above are actually delivered. 
 “Excess Cash
Flow Period”: any fiscal year of the Company, commencing with the first full fiscal year ending after the Closing Date. 

“Exchange Act”: the Securities Exchange Act of 1934, as amended. 

“Exchange Act Report”: collectively, the Current Reports on Form 8-K of the Company filed with or furnished to the SEC
subsequent to December 29, 2018 but prior to the Closing Date and the Form 10, in each case, as amended or supplemented prior to the Closing Date. 

“Exchange Rate”: on any day, with respect to any currency, the rate at which such currency may be exchanged into any other
currency, as set forth at approximately 11:00 a.m., London time, on such date as provided by ICE Data Services. In the event that such rate is not provided by ICE Data Services, the Exchange Rate shall be determined by reference to such other
publicly available service for displaying exchange rates as may be reasonably selected by the Administrative Agent in consultation with the Company, or, in the event no such service is selected, such Exchange Rate shall instead be the arithmetic
average of the spot rates of exchange of the Administrative Agent in the market where its foreign currency exchange operations in respect of such currency are then being conducted, at or about 10:00 a.m., Local Time, on such date for the purchase of
the relevant currency for delivery two Business Days later; provided that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent, after consultation with the Company, may use any
reasonable method it deems appropriate to determine such rate, and such determination shall be presumed correct absent manifest error. 

  
 22 

 “Excluded Assets”: as defined in the Collateral Agreement. 

“Excluded Subsidiary”: (i) any Foreign Subsidiary, (ii) any Subsidiary that is not a Wholly-Owned Subsidiary,
(iii) any Immaterial Subsidiary, (iv) any Finance Subsidiary or any Special Purpose Finance Subsidiary, (v) any CFC Holding Company, (vi) any Domestic Subsidiary that is a Subsidiary of a CFC or a CFC Holding Company,
(vii) any Unrestricted Subsidiary, (viii) any Subsidiary that is prohibited by applicable law existing on the Closing Date or by applicable law or contractual obligation existing on the Closing Date or at the time of the formation or
acquisition by the Company (or any of its Subsidiaries) of such Subsidiary (including pursuant to Indebtedness permitted to be incurred hereunder as assumed Indebtedness if the terms of such Indebtedness prohibit such Subsidiary from guaranteeing
the Obligations) (so long as such contractual obligation is not entered into in contemplation of such formation or acquisition) from providing a guarantee under the Guarantee Agreement or from having a Lien on its Capital Stock to secure the
Obligations, as the context may require, for so long as such prohibition exists, or if such guarantee or such Lien, as the context may require, would require governmental (including regulatory) consent, approval, license or authorization (unless
such consent, approval, license or authorization has been obtained, it being understood that the Company shall have no obligation to obtain any such consent, approval, license or authorization), (ix) any Subsidiary that is a not-for-profit organization, broker dealer, captive insurance subsidiaries and other special purpose subsidiaries, (x) any Subsidiary whose provision of a guarantee would
result in materially adverse tax consequences to the Company and its Subsidiaries as reasonably determined by the Company, (xi) any Subsidiary listed in Schedule 1.1F hereto on the Closing Date and (xii) any other Subsidiary with
respect to which, in the reasonable judgment of the Company, the burden or cost (including any adverse tax consequence) of providing a guarantee under the Guarantee Agreement or a Lien on its Capital Stock to secure the Obligations, as the context
may require, will outweigh the benefits to be obtained by the Lenders therefrom; provided that, notwithstanding anything herein to the contrary, in no event shall any Domestic Subsidiary Borrower be an Excluded Subsidiary. 

“Excluded Swap Obligation”: with respect to any Guarantor (a) any Swap Obligation if, and to the extent that, and only
for so long as, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, as applicable, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity
Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure to constitute an “eligible contract
participant,” as defined in the Commodity Exchange Act and the regulations thereunder, at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such
Swap Obligation or (b) any other Swap Obligation designated as an “Excluded Swap Obligation” of such Guarantor as specified in any agreement between the relevant Loan Parties and counterparty applicable to such Swap
Obligations, and agreed by the Administrative Agent. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swaps for which
such guarantee or security interest is or becomes illegal. 
 “Existing Letters of Credit”: the letters of credit
outstanding on the Closing Date immediately prior to the effectiveness of this Agreement. Schedule 1.1C contains a list of the Existing Letters of Credit. 

“Existing Receivables Financing”: each receivables financing transaction existing on the Closing Date and set forth on
Schedule 7.3(m) attached hereto. 

  
 23 

 “Existing Supply Chain Financing”: each supply chain financing transaction
existing on the Closing Date and set forth on Schedule 7.3(m) attached hereto. 
 “Existing Revolver Tranche”: as defined
in Section 2.26(b). 
 “Existing Term Loan Tranche”: as defined in Section 2.26(a). 

“Expected Cost Savings”: as defined in the definition of “Consolidated EBITDA”. 

“Extended Revolving Commitments”: as defined in Section 2.26(b). 

“Extended Term Loans”: as defined in Section 2.26(a). 

“Extending Revolving Lender”: as defined in Section 2.26(c). 

“Extending Term Lender”: as defined in Section 2.26(c). 

“Extension Amendment”: as defined in Section 2.26(d). 

“Extension Election”: as defined in Section 2.26(c). 

“Extension Request”: as defined in Section 2.26(b). 

“Extension Series”: as defined in Section 2.26(b). 

“Facility”: each of (a) the Tranche A Term Loans (the “Tranche A Term Facility”), (b) the Tranche B
Term Loans (the “Tranche B Term Facility”), (c) the Revolving Commitments and the extensions of credit made thereunder (the “Revolving Facility”) and (d) each other credit facility that may be added to this
Agreement after the date hereof. 
 “FATCA”: Sections 1471 through 1474 of the Code, as of the date of this Agreement (or
any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b)(1)
of the Code, any intergovernmental agreements entered into in connection with the implementation of the foregoing and any fiscal or regulatory legislation, rules or practices adopted pursuant to any of the foregoing, or any treaty or convention
among Governmental Authorities entered into in connection with the implementation of the foregoing. 
 “Federal Funds Effective
Rate”: for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions (as determined in such manner as the NYFRB shall set forth on its public website from time to time) and
published on the next succeeding Business Day by the NYFRB as the federal funds effective rate; provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Finance Subsidiary”: any Subsidiary of the Company formed for the sole purpose of engaging in a Permitted Receivables
Financing or Supply Chain Financing. 
 “Financial Covenants”: the covenants set forth in Sections 7.1(a) and 7.1(b). 

“First Lien Intercreditor Agreement”: an intercreditor agreement in a form reasonably acceptable to the Administrative Agent
and the Company among the Company, the Subsidiary Guarantors from time to time party thereto, the Collateral Agent and the Other Debt Representative for the holders of Indebtedness that is permitted under Sections 7.2 and 7.3 to be, and is intended
to be, secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations. 

  
 24 

 “First Lien Leverage Ratio”: with respect to any date of determination, the
ratio of (a) Consolidated First Lien Net Debt as of such date less Netted Cash as of such date to (b) Consolidated EBITDA of the Company and its Subsidiaries for the applicable Test Period. 

“Fixed Amount”: as defined in Section 1.4(e). 

“Fitch”: Fitch Ratings Inc., together with any successor thereto. 

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

“Foreign Currencies”: (i) Canadian Dollars, Euro, Pounds Sterling, Swiss Francs and Yen and (ii) such other currencies
that the Company may from time to time request subject to the approval of the Administrative Agent and each Revolving Lender. 

“Foreign Currency Revolving Loans”: as defined in Section 2.6(a). 

“Foreign Loan Party”: each Foreign Subsidiary Borrower. 

“Foreign Obligations”: as defined in Section 10.22. 

“Foreign Subsidiary”: any Subsidiary of the Company that is not a Domestic Subsidiary. 

“Foreign Subsidiary Borrower”: any Subsidiary Borrower which is a Foreign Subsidiary. 

“Form 10”: the registration statement on Form 10 filed by the Company with the SEC to effect the registration of the common
stock of the Company pursuant to the Exchange Act in connection with the Distribution, as such registration statement may be amended or supplemented from time to time and including all exhibits and attachments thereto or filed by the Company with
the SEC in connection therewith. 
 “Funding Office”: the office of the Administrative Agent specified in Section 10.2
or such other office as may be specified from time to time by the Administrative Agent as its funding office by written notice to the Company and the Lenders. 

“GAAP”: generally accepted accounting principles in the United States as in effect from time to time, except that for
purposes of the definition of “Applicable Prepayment Percentage” or any Financial Covenant, GAAP shall be determined on the basis of such principles in effect on the date hereof and consistent with those used in the preparation of the most
recent audited financial statements delivered pursuant to Section 4.1; provided that, if the Company notifies the Administrative Agent following the effectiveness of any applicable Accounting Change (as defined below) that the Company requests
an amendment to any provision hereof to eliminate the effect of such Accounting Change or in the application thereof on the operation of such provision (or if the Required Lenders notify the Company following the effectiveness of any such Accounting
Change that the Required Lenders request an 

  
 25 

 
amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such Accounting Change or in the application thereof, then such provision shall
be interpreted on the basis of GAAP as in effect and applied immediately before such Accounting Change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. “Accounting
Change” refers to a change after the date hereof in accounting principles required by the promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting Standards Board of the American Institute of Certified
Public Accountants or, if applicable, the SEC. 
 “Governmental Authority”: any nation or government, any state or other
political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government,
any securities exchange, any self-regulatory organization (including the National Association of Insurance Commissioners) and any applicable supranational bodies (such as the European Union or the European Central Bank). 

“Guarantee Agreement”: the Guarantee Agreement dated as of the Closing Date executed and delivered by each Domestic Borrower
and each Subsidiary Guarantor pursuant to this Agreement, a copy of which is attached hereto as Exhibit A-1, as the same may be amended, supplemented or otherwise modified from time to time. 

“Guarantee Obligation”: as to any Person (the “guaranteeing person”), any obligation of (a) the
guaranteeing person or (b) another Person (including any bank under any letter of credit) to induce the creation of which obligation the guaranteeing person has issued a reimbursement, counter indemnity or similar obligation, in either case
guaranteeing or in effect guaranteeing any Indebtedness or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including any
obligation of the guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or
payment of any such primary obligation or (2) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or
services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary
obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business. The amount of any Guarantee Obligation of
any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such
guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in
which case the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Company in good faith. 

“Guarantors”: the collective reference to the Subsidiary Guarantors and any other Person that guarantees payment of all or a
portion of the Obligations (including, for the avoidance of doubt, the Company). 
 “Hedge Agreements”: all interest rate
swaps, caps, collar, forward, future or option agreements or similar arrangements dealing with interest rates, currency exchange rates, the exchange of nominal interest obligations or commodities, in each case either generally or under specific
contingencies, or any other arrangement constituting a Swap Agreement (including, for the avoidance of doubt, any Lender Hedge Agreements). 

  
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 “Immaterial Subsidiaries”: at any time, Subsidiaries of the Company
(i) having aggregate total assets (as determined in accordance with GAAP) in an amount of less than 7.5% of Consolidated Total Assets of the Company and its Subsidiaries as of the last day of the immediately preceding Test Period and
(ii) contributing in the aggregate less than 7.5% to Consolidated EBITDA for the most recently ended Test Period. In the event that total assets of all Immaterial Subsidiaries exceed 7.5% of Consolidated Total Assets as of the last day of the
immediately preceding Test Period or the total contribution to Consolidated EBITDA of all Immaterial Subsidiaries exceeds 7.5% of Consolidated EBITDA for the relevant period, as the case may be, the Company will designate Subsidiaries which would
otherwise constitute Immaterial Subsidiaries to be excluded as Immaterial Subsidiaries until such 7.5% thresholds are met. 

“Incremental Cap”: 

(a) the Shared Incremental Amount, plus 

(b) (i) the amount of any optional prepayment of any Loan (including any Incremental Loan) in accordance with Section 2.12(a) and/or the
amount of any permanent reduction of any undrawn Revolving Commitment (including any undrawn Incremental Revolving Commitment), (ii) the amount of any optional prepayment, redemption, repurchase or retirement of Incremental Equivalent Debt that is
secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations, (iii) the amount of any optional prepayment, redemption, repurchase or retirement of any Refinancing
Term Loans or Other Revolving Loans or any Credit Agreement Refinancing Indebtedness previously applied to the permanent prepayment of any Loan, Revolving Commitment or of any Incremental Equivalent Debt referred to in clauses (i) and (ii)
above (with respect to any such Credit Agreement Refinancing Indebtedness, in an aggregate amount not to exceed the aggregate amount of Loans, Revolving Commitments or Incremental Equivalent Debt, as applicable, refinanced by such Credit Agreement
Refinancing Indebtedness), and (iv) the aggregate amount of any Indebtedness referred to in clauses (i) through (iii) above that is (x) repaid or retired resulting from any assignment to or purchase by such Indebtedness (and/or
assignment and/or purchase of such Indebtedness by) the Company and/or any Subsidiary or (y) terminated pursuant to Section 2.24, which shall be credited to the extent of the principal amount of the Indebtedness repaid, retired or
terminated; provided that for each of clauses (i) through (iv), (x) the relevant prepayment, redemption, repurchase, retirement or assignment and/or purchase was not funded with the proceeds of any Long-Term Indebtedness and (y) in
the case of any prepayment of Loans under any revolving facility, such prepayment shall be accompanied by a permanent reduction in the commitments in respect thereof, plus 

(c) an unlimited amount so long as, in the case of this clause (c), on the date of incurrence thereof on a Pro Forma Basis after giving effect
to the incurrence of the Incremental Facility or the Incremental Equivalent Debt, as applicable, and the application of the proceeds thereof (without netting the cash proceeds thereof) and to any relevant Specified Transaction (and, in the case of
any Incremental Revolving Facility then being established, assuming a full drawing thereunder), (i) if such Indebtedness is secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens
securing the Obligations, the First Lien Leverage Ratio does not exceed 2.75 to 1.00, (ii) if such Indebtedness is secured by a Lien on the Collateral that is junior to the Liens securing the Obligations, the Senior Secured Leverage Ratio does not
exceed 3.25 to 1.00 and (iii) if such Indebtedness is unsecured, the Company is in compliance with the Financial Covenants; 

  
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provided that: (1) any Incremental Facility or Incremental Equivalent Debt may be incurred under one or more of clauses (a) through (c) of this definition as selected by the Company in
its sole discretion (provided that, in the case of clause (c), an Incremental Facility may be incurred only under clause (i) thereof), and (2) upon delivery of any financial statements pursuant to Section 6.1 following the initial
incurrence or implementation of any Incremental Facility or Incremental Equivalent Debt, to the extent such Incremental Facility or Incremental Equivalent Debt or any portion thereof could, based on such financial statements, have been incurred or
made in reliance on clause (c), unless otherwise elected by the Company, such Incremental Facility or Incremental Equivalent Debt or portion thereof shall automatically be reclassified (subject to clause (1) of this proviso and to any
other applicable provision of clause (c)) as having been incurred under clause (c). 
 “Incremental Equivalent Debt”:
Indebtedness in an amount not to exceed the Incremental Cap incurred by any Loan Party consisting of the incurrence or issuance of one or more series of senior secured notes or loans, junior lien loans or notes, subordinated loans or notes or senior
unsecured loans or notes (in each case in respect of the issuance of notes, whether issued in a public offering, Rule 144A or other private placement or purchase or otherwise) or any bridge financing in lieu of the foregoing, or secured or unsecured
“mezzanine” debt, in each case, to the extent secured, subject to (x) with respect to Incremental Equivalent Debt secured by a Lien on the Collateral that is junior to the Lien securing the Obligations, a Junior Lien Intercreditor
Agreement and (y) with respect to Incremental Equivalent Debt secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations, a First Lien Intercreditor Agreement;
provided that such Incremental Equivalent Debt shall be subject to the requirements set forth in Sections 2.27(a) mutatis mutandis, except that (a) Incremental Equivalent Debt shall not be subject to the requirement set forth in the provisos to
Section 2.27(a)(v) (except with respect to any Incremental Equivalent Debt in the form of syndicated U.S. Dollar-denominated term loan consisting of a tranche B term facility (i.e., a term loan facility with a tenor of seven years or longer
with nominal amortization) secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations incurred on or prior to the date that is 12 months after the Closing Date,
which shall be subject to the requirement in the provisos to Section 2.27(a)(v) mutatis mutandis), (b) the requirements set forth in Section 2.27(a)(x)(A) and Section 2.27(a)(xiii) shall not apply to such Indebtedness and (c) the
requirements set forth in Section 2.27(a)(vi) and (vii) shall not apply to a customary bridge facility which, subject to customary conditions, automatically convert into long-term debt satisfying the requirements of such clauses. 

“Incremental Commitment”: as defined in Section 2.27(a)(i). 

“Incremental Facility”: as defined in Section 2.27(a). 

“Incremental Facility Amendment”: an amendment to this Agreement executed by each of (a) the applicable Borrowers,
(b) the Administrative Agent and (c) each Lender that agrees to provide all or any portion of the Incremental Facility being incurred pursuant thereto and in accordance with Section 2.27. 

“Incremental Loans”: as defined in Section 2.27(a). 

“Incremental Revolving Commitments”: as defined in Section 2.26(b). 

“Incremental Revolving Facility”: as defined in Section 2.27(a)(ii). 

“Incremental Revolving Loans”: as defined in Section 2.27(a). 

“Incremental Term Facility”: as defined in Section 2.27(a)(i). 

  
 28 

 “Incremental Term Loans”: as defined in Section 2.27(a)(ii). 

“Incremental Tranche A Term Facility”: as defined in Section 2.27(a)(vi)(b). 

“Incremental Tranche B Term Facility”: as defined in Section 2.27(a)(v). 

“Incurred Acquisition Debt”: as defined in Section 7.2(p)(i). 

“Incurrence-Based Amount”: as defined in Section 1.4(e). 

“Indebtedness”: of any Person at any date, without duplication, (a) all indebtedness of such Person for borrowed money,
(b) all obligations of such Person for the deferred purchase price of property or services (other than any such obligations incurred in the ordinary course of such Person’s business maturing less than one year from the creation thereof),
including Contingent Purchase Price Obligations solely to the extent satisfying the definition thereof, (c) all obligations of such Person evidenced by notes, bonds (excluding surety bonds), debentures or other similar instruments (other than
an operating lease, synthetic lease or similar arrangement), (d) for the purposes of Sections 7.2 and 8(e) only, all indebtedness created or arising under any conditional sale or other title retention agreement (other than an operating lease) with
respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) for the purposes of Sections 7.2 and
8(e) only, all Capital Lease Obligations of such Person; (f) for the purposes of Sections 7.2 and 8(e) only, all obligations of such Person, contingent or otherwise, as an account party under acceptances, surety bonds or similar arrangements
(other than obligations arising out of endorsements of instruments for deposit or collection in the ordinary course of business), (g) all unpaid reimbursement obligations of such Person in respect of drawings under letters of credit and surety bonds
and, for purposes of Sections 7.2 and 8(e) only, the face amount of all letters of credit issued for the account of such Person, (h) for the purposes of Sections 7.2 and 8(e) only, all Guarantee Obligations of such Person in respect of
obligations of the kind referred to in clauses (a) through (g) above, (i) without limitation of the foregoing, all obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the holder of such
obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such
obligation; provided that the amount of any such obligation shall be deemed to be the lesser of the face principal amount thereof and the fair market value of the property subject to such Lien and (j) for the purposes of Sections 7.2 and 8(e)
only, all obligations of such Person in respect of Hedge Agreements; provided that, for purposes of Sections 7.2 and 8(e), the amount of “Indebtedness” included with respect to any such Hedge Agreement shall be based on the net termination
value thereof. Notwithstanding the foregoing, overdrafts by the Company and its Subsidiaries in the ordinary course of business in connection with cash management (and not working capital) and trade letter of credit with a maturity of less than 180
days issued in the ordinary course of business shall not constitute Indebtedness. 
 “Indemnitee”: as defined in
Section 10.5. 
 “Ineligible Institution”: as defined in Section 10.6(b). 

“Information”: as defined in Section 4.19(a)(i). 

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

  
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 “Intellectual Property”: all rights, priorities and privileges, whether
arising under United States, multinational or foreign laws or otherwise, relating to copyrights, patents, trademarks, technology, know-how and processes and other intellectual property, and all rights to sue
at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 

“Interest Payment Date”: (a) as to any ABR Loan, Canadian Prime Rate Loan or Overnight LIBOR Loan that is not a Swingline
Loan, the second Business Day of each January, April, July and October to occur while such Loan is outstanding and the final maturity date of such Loan, (b) as to any Eurodollar Loan or CDOR Loan having an Interest Period of three months or
less, the last day of such Interest Period, (c) as to any Eurodollar Loan or CDOR Loan having an Interest Period longer than three months, each day that is three months, or a whole multiple thereof, after the first day of such Interest Period
and the last day of such Interest Period and (d) as to any Loan (other than any Revolving Loan that is an ABR Loan, Canadian Prime Rate Loan or any Overnight LIBOR Loan), the date of any repayment or prepayment made in respect thereof. 

“Interest Period”: as to any Eurodollar Loan or CDOR Loan (i) initially, the period commencing on the borrowing or
conversion date, as the case may be, with respect to such Eurodollar Loan or CDOR Loan and ending one week, or one, two, three or six months thereafter, as selected by the applicable Borrower in its notice of borrowing or notice of conversion, as
the case may be, given with respect thereto, or any other period agreed upon between the applicable Borrower and the Lenders; (ii) thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such
Eurodollar Loan and ending one week or one, two, three or six months thereafter, as selected by the applicable Borrower by irrevocable notice to the Administrative Agent not later than 11:00 a.m., New York City time, in the case of Loans denominated
in U.S. Dollars, 11:00 a.m., London time, in the case of Foreign Currency Revolving Loans (denominated in a currency other than Canadian Dollars), and 11:00 a.m., Toronto time, in the case of Foreign Currency Revolving Loans denominated in Canadian
Dollars, in each case three Business Days prior to the last day of the then current Interest Period with respect thereto; provided that in no event shall any Eurodollar Loans denominated in Euros have an Interest Period of two months; provided
further that, all of the foregoing provisions relating to Interest Periods are subject to the following: 
 (a) if any Interest Period would
otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such
Interest Period shall end on the immediately preceding Business Day; 
 (b) no Borrower may select an Interest Period under a particular
Facility that would extend beyond the Revolving Termination Date, in the case of the Revolving Facility, or beyond the Tranche A Final Maturity Date, in the case of the Tranche A Term Facility; 

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

(d) the applicable Borrower shall select Interest Periods so as not to require a payment or prepayment of any Eurodollar Loan or CDOR Loan
during an Interest Period for such Loan. 
 “Investments”: as defined in Section 7.8. 

  
 30 

 “ISP”: with respect to any Letter of Credit, the “International
Standby Practices 1998” published by the International Chamber of Commerce under Publication No. 590 (or such later version thereof as may be in effect at the time of issuance). 

“Issuing Lender”: (i) JPMCB, Barclays Bank PLC, Bank of America, N.A., Wells Fargo Bank, National Association and HSBC or
(ii) any other Lender (which may act through its Affiliates) requested by the Company and reasonably acceptable to the Administrative Agent which agrees to act as an Issuing Lender hereunder, in each case its capacity as issuer of any Letter of
Credit. Each reference herein to “Issuing Lender” shall be deemed to be a reference to the relevant Issuing Lender. 

“Joinder Agreement”: as defined in Section 2.29(a)(i). 

“Joint Venture”: any Person in which the Company and/or its Subsidiaries hold less than a majority of the Capital Stock, and
which does not constitute a Subsidiary of the Company, whether direct or indirect. 
 “JPMCB”: JPMorgan Chase Bank, N.A.

 “Junior Lien Intercreditor Agreement”: an intercreditor agreement in a form reasonably acceptable to the Administrative
Agent and the Company among the Company, the Subsidiary Guarantors from time to time party thereto, the Administrative Agent and an Other Debt Representative for the holders of Indebtedness that is permitted under Sections 7.2 and 7.3 to be, and is
intended to be, secured by a Lien on the Collateral that is junior to the Liens securing the Obligations. 
 “Judgment
Currency”: as defined in Section 10.21(b). 
 “Knowledge” or to the “Knowledge”: of any Loan
Party or any Subsidiaries of any Loan Party, the actual knowledge, after reasonable good faith investigation, of a Responsible Officer of such Loan Party or such Subsidiary. 

“L/C Commitment”: as to any Revolving Lender, the obligation of such Revolving Lender to issue Letters of Credit pursuant to
Section 3 in an aggregate undrawn, unexpired face amount plus the aggregate unreimbursed drawn amount thereof at any time not to exceed the amount set forth under the heading “L/C Commitment” opposite such Revolving Lender’s name
on Schedule 1.1A or in the Assignment and Assumption pursuant to which such Revolving Lender becomes a party hereto, in each case, as the same may be changed from time to time pursuant to the terms hereof. 

“L/C Exposure”: at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such
time (with respect to any Existing Letters of Credit in a Foreign Currency, based on the Dollar Equivalent thereof) plus (b) the aggregate amount of all payments, made by an Issuing Lender pursuant to a Letter of Credit, that have not yet been
reimbursed by or on behalf of the applicable Borrower at such time (with respect to any Existing Letters of Credit in a Foreign Currency, based on the Dollar Equivalent thereof). The L/C Exposure of any Revolving Lender at any time shall be, with
respect to such Lender, such Lender’s applicable percentage of the total L/C Exposure at such time. 
 “L/C Fee Payment
Date”: the second Business Day of each January, April, July or October and the last day of the Revolving Commitment Period. 

  
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 “L/C Obligations”: at any time, an amount equal to the sum of (a) the
aggregate then undrawn and unexpired amount of the then outstanding Letters of Credit (with respect to any Existing Letters of Credit in a Foreign Currency, based on the Dollar Equivalent thereof) and (b) the aggregate amount of drawings under
Letters of Credit that have not then been reimbursed pursuant to Section 3.5 (with respect to any Existing Letters of Credit in a Foreign Currency, based on the Dollar Equivalent thereof). For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, or a Letter of Credit subject to UCP600 allows extension of the expiration date of such Letter
of Credit for reasons of Force Majeure stated in Article 36 of UCP600, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“L/C Participants”: with respect to any Letter of Credit issued by an Issuing Lender, the collective reference to all the
Revolving Lenders other than the Issuing Lender with respect to such Letter of Credit. 
 “Latest Maturity Date”: at any
date of determination, the latest maturity or expiration date applicable to any Loan or Commitment hereunder at such time, including the latest maturity or expiration date of any Term Loan. 

“Lender Affiliate”: (a) with respect to any Lender (i) an Affiliate of such Lender or (ii) any entity (whether a
corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course of its business and is administered or managed by such Lender
or an Affiliate of such Lender and (b) with respect to any Lender that is a fund which invests in bank loans and similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed by the same
investment advisor as such Lender or by an Affiliate of such investment advisor. 
 “Lender Cash Management Obligations”:
Cash Management Obligations owed to any Person who is, or was, the Administrative Agent or a Lender (or any Affiliate of the Administrative Agent or any Lender) (x) at the time the agreement governing such Cash Management Obligations was
entered into, with respect to any Cash Management Obligations arising from agreement entered into after the Closing Date or (y) as of the Closing Date, with respect to any Cash Management Obligations arising from agreement existing on the
Closing Date, in each case of clauses (x) and (y), regardless of whether such Person subsequently ceases to be the Administrative Agent or a Lender or an Affiliate of the Administrative Agent or a Lender (each such Person, a “Lender
Cash Management Counterparty”). 
 “Lender Hedge Agreements”: as defined in the Guarantee Agreement. 

“Lenders”: as defined in the preamble hereto. 

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

“Letter of Credit Expiration Date”: the day that is five (5) Business Days prior to the scheduled maturity date then in
effect for the applicable Class, series or tranche of Revolving Commitments (or, if day is not a Business Day, the next succeeding Business Day). 

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

“Limited Condition Transaction”: as defined in Section 1.4(d). 

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

  
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 “Loan Documents”: this Agreement, the Guarantee Agreement, the Security
Documents and the Notes, as the same may be amended, modified or supplemented from time to time. 
 “Loan Parties”: each
Borrower and each Subsidiary of the Company that is a party to a Loan Document. For the avoidance of doubt, the Loan Parties as of the Closing Date, after giving effect to the Closing Date Cash Transfer and the Distribution, are set forth on
Schedule 1.1E hereto. 
 “Local Time”: (i) New York City time in the case of a Loan or borrowing disbursement denominated
in U.S. Dollars, (ii) Toronto time in the case of a Loan or borrowing disbursement denominated in Canadian Dollars and (iii) London time in the case of a Loan or borrowing disbursement denominated in any other Foreign Currency (or any such
other local time as otherwise notified to or communicated by the Administrative Agent). 
 “Long-Term Indebtedness”: any
Indebtedness that, in accordance with GAAP, constitutes (or, when incurred, constituted) a long-term liability; provided that revolving indebtedness shall not constitute Long-Term Indebtedness. 

“Majority Facility Lenders”: with respect to any Facility, the holders of more than 50% of the aggregate unpaid principal
amount of the Total Revolving Extensions of Credit (excluding Revolving Extensions of Credit held by Defaulting Lenders) under the Revolving Facility, the aggregate unpaid principal amount of the Tranche A Term Loans or the aggregate unpaid
principal amount of the Tranche B Term Loans, as the case may be, outstanding under such Facility or in the case of the Revolving Facility, prior to any termination of the Revolving Commitments, the holders (other than Defaulting Lenders) of more
than 50% of the Total Revolving Commitments (excluding Revolving Commitments of Defaulting Lenders). 
 “Material
Acquisition”: any acquisition, or a series of related acquisitions by the Company or any Subsidiary, of (a) Capital Stock in any Person if, after giving effect thereto, such Person will become a Subsidiary or (b) assets comprising
all or substantially all the assets of (or all or substantially all the assets constituting a business unit, division, product line or line of business of) any Person; provided that the aggregate consideration therefor (including Indebtedness
assumed in connection therewith, all obligations in respect of deferred purchase price (including obligations under any purchase price adjustment, as estimated in good faith by the Company, but excluding earnout, contingent payment or similar
payments) and all other consideration payable in connection therewith (including payment obligations in respect of noncompetition agreements or other arrangements representing acquisition consideration)) exceeds $100,000,000. 

“Material Adverse Effect”: a material adverse effect on (a) the business, property, operations or financial condition of
the Company and its Subsidiaries taken as a whole, (b) the ability of the Loan Parties, taken as a whole, to perform their payment obligations under the Loan Documents or (c) the rights of or benefits available to the Lenders, taken as a
whole, under this Agreement or any other Loan Document. 
 “Materials of Environmental Concern”: any gasoline or petroleum
(including crude oil or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials or wastes, in each case that are defined or regulated as such in or under any Requirement of Law relating to the environment,
including asbestos, polychlorinated biphenyls and urea-formaldehyde insulation. 
 “Maximum Rate”: as defined in
Section 10.19. 
 “Moody’s”: as defined in the definition of “Cash Equivalents”. 

  
 33 

 “Mortgaged Properties”: the real properties subject to the Mortgages
designated in part (a) of Schedule 1.1B and any other real properties required to be mortgaged pursuant to Section 6.9; provided that Mortgaged Properties shall not include any leased real property. 

“Mortgages”: each mortgage, deed of trust, deed to secure debt, trust deed or any other security document entered into by the
owner of a Mortgaged Property in favor of the Administrative Agent for the benefit of the Administrative Agent and the Lenders creating a lien on such Mortgaged Property in such form as reasonably agreed between the Company and the Administrative
Agent, as the same may be amended, supplemented or otherwise modified from time to time; provided, however, in the event any Mortgaged Property is located in a jurisdiction which imposes mortgage recording taxes or similar fees, the applicable
Mortgage shall not secure an amount in excess of 100% of the fair market value of such Mortgaged Property. 
 “Multiemployer
Plan”: a Plan that is a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
 “Net Cash Proceeds”:
(a) in connection with any Asset Sale or any Recovery Event, the proceeds thereof in the form of cash and Cash Equivalents (including any such proceeds received by way of deferred payment of principal pursuant to a note or installment receivable or
purchase price adjustment receivable or otherwise, but only as and when received), net of attorneys’ fees, accountants’ fees, investment banking fees, amounts required to be applied to the repayment of Indebtedness secured by a Lien
expressly permitted hereunder on any asset that is the subject of such Asset Sale or Recovery Event, as applicable (other than any Lien pursuant to a Security Document and other than (i) any Incremental Equivalent Debt, (ii) Credit
Agreement Refinancing Indebtedness, (iii) Ratio Debt, (iv) Incurred Acquisition Debt or (v) any other Indebtedness outstanding at such time that, in each case, is secured by a Lien on the Collateral that is pari passu (but without
regard to the control of remedies) with the Liens securing the Obligations) and other fees and expenses actually incurred in connection therewith and net of taxes paid or reasonably estimated to be payable as a result thereof (after taking into
account any available tax credits or deductions and any tax sharing arrangements) and (b) in connection with any issuance or sale of Capital Stock or any incurrence of Indebtedness, the cash proceeds received from such issuance or incurrence,
net of attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other fees and expenses actually incurred in connection therewith. 

“Net Working Capital”: at any date of determination, (a) the consolidated current assets of the Company and its
consolidated Subsidiaries as of such date (excluding cash and Cash Equivalents) minus (b) the consolidated current liabilities of the Company and its consolidated Subsidiaries as of such date (excluding current liabilities in respect of
Indebtedness). Net Working Capital at any date may be a positive or negative number. Net Working Capital increases when it becomes more positive or less negative and decreases when it becomes less positive or more negative. 

“Netted Cash”: at any date of determination, the sum of (a) the aggregate amount of all unrestricted cash and Cash
Equivalents of the Company and its Domestic Subsidiaries as of such date and (b) 80% of the unrestricted cash and Cash Equivalents of the Foreign Subsidiaries as of such date. 

“New York Process Agent”: as defined in Section 10.12(b). 

“Non-Consenting Lender”: as defined in Section 2.24. 

  
 34 

 “Non-Excluded Taxes”: Taxes imposed
on or with respect to any payment made by or on account of any obligation of the Company under any Loan Document, other than Taxes that are (i) Taxes imposed on or measured by net income (however denominated), franchise taxes, and branch
profits taxes (A) imposed as a result of the Administrative Agent or any Lender being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing
such Tax (or any political subdivision thereof) or (B) imposed on the Administrative Agent or any Lender as a result of a present or former connection between the Administrative Agent or such Lender and the jurisdiction of the Governmental
Authority imposing such Tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from the Administrative Agent or such Lender having executed, delivered, become a party to, performed its
obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to, or enforced this Agreement or any Loan Document), (ii) attributable to a Lender’s failure to comply with
the requirements of paragraph (e) or (f) of Section 2.21, (iii) withholding taxes imposed on amounts payable to or for the account of a Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect
on the date on which such Lender becomes a party to this Agreement or changes its lending office, except to the extent that, pursuant to Section 2.21, amounts with respect to such Taxes were payable either to such Lender’s assignor (if
any) immediately before such Lender acquired such interest or to such Lender immediately before it changed its lending office or (iv) any withholding Taxes imposed pursuant to FATCA. 

“Non-Expiring Credit Commitment”: as defined in Section 2.9(e). 

“Non-U.S. Lender”: as defined in Section 2.21(f)(ii). 

“Notes”: the collective reference to any promissory note evidencing Loans. 

“Notice of Designation”: as defined in Section 2.29(a)(i). 

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

“NYFRB Rate”: for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the
Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if none of such rates are published for any day that is a Business Day, the term “NYFRB
Rate” means the rate for a federal funds transaction quoted at 11:00 a.m., New York City time, on such day received to the Administrative Agent from a Federal funds broker of recognized standing selected by it; provided, further, that if any of
the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 
 “Objecting
Lender”: as defined in Section 2.29(b). 
 “Obligations”: the unpaid principal of and interest on (including
interest accruing after the maturity of the Loans and Reimbursement Obligations and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the
Borrowers, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) the Loans and all other obligations and liabilities of the Borrowers to the Administrative Agent or to any Lender (or, in the case of Lender
Hedge Agreements or Lender Cash Management Obligations, any Affiliate of the Administrative Agent or any Lender), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under,
out of, or in connection with, this Agreement, any other Loan Document (including, for the avoidance of doubt, any guarantee of Lender Cash Management Obligations and Lender Hedge Agreements in each case arising under the Guarantee Agreement), the
Letters of Credit, Lender Cash Management Obligations, Lender Hedge Agreements or any other document made, delivered or given in connection herewith or therewith, whether on account of principal, interest, reimbursement obligations, fees,
indemnities, costs, expenses (including all fees, charges and disbursements of counsel to the Administrative Agent or to any Lender that are required to be paid by the Borrowers pursuant hereto) or otherwise. 

  
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 “Other Applicable Asset Sale Indebtedness”: as defined in
Section 2.13(b). 
 “Other Applicable ECF Indebtedness”: as defined in Section 2.13(c). 

“Other Debt Representative”: with respect to any series of Indebtedness permitted to be incurred and secured by a Lien on the
Collateral that is pari passu (but without regard to the control of remedies) with or junior to the Lien securing the Obligations, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement
pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities. 

“Other Revolving Commitments”: one or more Classes of revolving credit commitments hereunder that result from a Refinancing
Amendment. 
 “Other Revolving Loans”: one or more Classes of Revolving Credit Loans that result from a Refinancing
Amendment. 
 “Other Taxes”: all present or future stamp, court or documentary, intangible, recording, filing or any other
similar Taxes imposed by the United States or any political subdivision thereof, that arise from any payment made under, from the execution, delivery or enforcement of, from the receipt or perfection of a security interest under, or otherwise with
respect to, this Agreement or any other Loan Document, except any such Taxes imposed with respect to an assignment. 
 “Overnight
Bank Funding Rate”: for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings in U.S. Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined
by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite
rate). 
 “Overnight LIBOR Loans”: collectively, any Overnight LIBOR Swingline Loans and any Loans denominated in Euros the
rate of interest applicable to which is based upon the Overnight LIBOR Rate. 
 “Overnight LIBOR Swingline Loans”:
Swingline Loans denominated in Euros the rate of interest applicable to which is based upon the Overnight LIBOR Rate. 
 “Overnight
LIBOR Rate”: a rate per annum equal to the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for overnight deposits in Euros as displayed
on the applicable Reuters screen page (currently LIBOR01 or LIBOR02) (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected
by the Administrative Agent from time to time in its reasonable discretion, in consultation with the Borrowers) at approximately 11:00 a.m., London time, on such day; provided that if such rate shall be less than zero, such rate shall be deemed to
be zero for all purposes of this Agreement. 
 “Participant”: as defined in Section 10.6(b). 

  
 36 

 “Participant Register”: as defined in Section 10.6(b). 

“Participating Member State”: each state so described in any EMU legislation. 

“Patriot Act”: the USA PATRIOT Act, Title III of Pub. L. 107-56, signed into law on October 26, 2001 or any subsequent
legislation that amends, supplements or supersedes such Act. 
 “PBGC”: the Pension Benefit Guaranty Corporation
established pursuant to Subtitle A of Title IV of ERISA (or any successor). 
 “Permitted First Priority Refinancing Debt”:
any Permitted First Priority Refinancing Notes and any Permitted First Priority Refinancing Loans. 
 “Permitted First Priority
Refinancing Loans”: any Credit Agreement Refinancing Indebtedness in the form of secured loans incurred by the Company and/or the Subsidiary Guarantors in the form of one or more tranches of loans under this Agreement; provided that
(i) such Indebtedness is secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations and (ii) such Indebtedness meets the Permitted Other Debt Conditions.

 “Permitted First Priority Refinancing Notes”: any Credit Agreement Refinancing Indebtedness in the form of secured
Indebtedness (including any Registered Equivalent Notes) incurred by the Company and/or the Subsidiary Guarantors in the form of one or more series of senior secured notes (whether issued in a public offering, Rule 144A, private placement or
otherwise) or loans not under this Agreement; provided that (i) such Indebtedness is secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations,
(ii) such Indebtedness meets the Permitted Other Debt Conditions and (iii) an Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to a First Lien Intercreditor Agreement and, if required
thereby, any other Applicable Intercreditor Agreement then in effect. Permitted First Priority Refinancing Notes will include any Registered Equivalent Notes issued in exchange therefor. 

“Permitted Junior Lien Refinancing Debt”: Credit Agreement Refinancing Indebtedness constituting secured Indebtedness
(including any Registered Equivalent Notes) incurred by the Company and/or the Subsidiary Guarantors in the form of one or more series of junior lien secured notes or junior lien secured loans; provided that (i) such Indebtedness is
secured by a Lien on the Collateral that is junior to the Liens securing the Obligations, (ii) such Indebtedness meets the Permitted Other Debt Conditions and (iii) an Other Debt Representative acting on behalf of the holders of such
Indebtedness shall have become party to the Junior Lien Intercreditor Agreement as a “Junior Priority Representative” (or similar term, in each case, to be defined in the Junior Lien Intercreditor Agreement). Permitted Junior Lien
Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor. 
 “Permitted Other Debt
Conditions”: with respect to any Indebtedness, that such applicable Indebtedness (i) is issued, incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend,
renew, replace, repurchase, retire or refinance, in whole or part, existing Term Loans and Revolving Loans (or Commitments in respect to Revolving Loans), or any then-existing Credit Agreement Refinancing Indebtedness (“Refinanced
Debt”), (ii) has a maturity no earlier than, and a Weighted Average Life to Maturity equal to or greater than the applicable Refinanced Debt, (iii) is not at any time guaranteed by any Subsidiaries other than Subsidiaries that are
Guarantors, and (iv) is not secured by any property or assets of the Company or any Subsidiaries other than the Collateral. 

  
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 “Permitted Payee”: any future, current or former director, officer, member
of management, manager, employee, independent contractor or consultant (or any Affiliate, immediate family member or transferee of any of the foregoing) of the Company (or any Subsidiary). 

“Permitted Receivables Financing”: (a) any sale by the Company or a Subsidiary of accounts receivable and related assets to a
Finance Subsidiary intended to be (and which shall be treated for the purposes hereof as) a true sale transaction with customary limited recourse based upon the collectability of the receivables sold and the corresponding sale or pledge of such
accounts receivable and related assets (or an interest therein) by the Finance Subsidiary, in each case without any guarantee of the collectability of such accounts receivable by the Company or any other Subsidiary thereof (other than by such
Finance Subsidiary); (b) (i) any sale by the Company or a Subsidiary of accounts receivable and related assets under a factoring agreement that is intended to be (and which shall be treated for the purposes hereof as) a true sale transaction
with customary limited recourse based upon collectability of the receivables sold, without any guarantee by the Company and any other Subsidiary thereof of the collectability of such accounts receivable and (ii) any sale or financing by any
Foreign Subsidiary to or with local buyers or lenders of accounts receivable and related assets in the ordinary course of business, in each case without any guarantee by the Company or any Domestic Subsidiary; and (c) any Existing Receivables
Financing. The aggregate principal amount of the proceeds received from parties outside the Company’s consolidated group and which remain outstanding in all transactions described in the preceding clauses (a) and (b) shall not exceed
$250,000,000. In addition to accounts receivables and their proceeds, the related assets transferred in a Permitted Receivables Financing may include (A) any collateral for transferred receivables (other than any interest in goods the sale of
which gave rise to such receivables) and any agreements supporting or securing payment of transferred receivables, (B) any service contracts or other agreements associated with such receivables and records relating to such receivables,
(C) any bank account or lock box maintained primarily for the purpose of receiving collections of transferred receivables and (D) proceeds of all of the foregoing. 

“Permitted Refinancing”: with respect to any Person, any modification, refinancing, refunding, renewal, replacement or
extension (collectively, a “Refinancing” and the Indebtedness being so Refinanced, the “Refinanced Indebtedness”) of any Indebtedness of such Person; provided that (a) the principal amount (or accreted value,
if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or extended except by an amount equal to (x) unpaid accrued interest,
penalties and premiums (including tender, prepayment or repayment premiums) thereon plus underwriting discounts and other customary fees, commissions and expenses (including upfront fees, original issue discount or initial yield payment) incurred in
connection with such modification, refinancing, refunding, renewal, replacement or extension, (y) any existing commitments unutilized thereunder and (z) additional amounts permitted to be incurred under Section 7.2 and, to the extent
secured by a Lien, Section 7.3 (and, in each case, the applicable clause of Section 7.2 and Section 7.3 shall be deemed to be utilized by the amount so incurred), (b) other than with respect to a Permitted Refinancing in respect of
Indebtedness permitted pursuant to Section 7.2(e), such modification, refinancing, refunding, renewal, replacement or extension has a maturity no earlier than, and a Weighted Average Life to Maturity equal to or greater than the Indebtedness
being modified, refinanced, refunded, renewed, replaced or extended, (c) if such Refinanced Indebtedness is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal, replacement or extension is
subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation governing the Refinanced Indebtedness, (d) such modification, refinancing, refunding, renewal, replacement
or extension has no different obligors, or greater guarantees or security than the Refinanced Indebtedness (provided that (i) Indebtedness of any Loan Party may be Refinanced to add or substitute as an obligor another Loan Party and
(ii) any Indebtedness of any Subsidiary that is not a Loan Party may be Refinanced to add or substitute as an obligor another Subsidiary that is not a Loan Party, in each case to the extent then

  
 38 

 
permitted under Section 7.2) and (d) if the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended was subject to an Applicable Intercreditor Agreement, the
holders of such modified, refinanced, refunded, renewed, replaced or extended Indebtedness (if such Indebtedness is secured) or their representative on their behalf shall become party to the Applicable Intercreditor Agreement(s). 

“Permitted Reorganization”: any transaction or undertaking, including Investments, in connection with internal
reorganizations and or restructurings (including in connection with tax planning and corporate reorganizations), so long as, after giving effect thereto, (a) the Loan Parties shall comply with the requirements set forth in Section 6.9, (b)
neither the guarantee of the Obligations provided to the Secured Parties pursuant to the Guarantee Agreement, taken as a whole, nor the security interest of the Secured Parties (as defined in the Collateral Agreement) in the Collateral, taken as a
whole, is materially impaired (including by a material portion of the assets that constitute Collateral immediately prior to such Permitted Reorganization no longer constituting Collateral) as a result of such Permitted Reorganization and
(c) the Company shall not change its jurisdiction of organization or formation in connection therewith to a jurisdiction outside of the United States. 

“Permitted Sale/Leasebacks”: as defined in Section 7.11. 

“Permitted Unsecured Refinancing Debt”: Credit Agreement Refinancing Indebtedness in the form of unsecured Indebtedness
(including any Registered Equivalent Notes) incurred by the Company and/or the Subsidiary Guarantors in the form of one or more series of unsecured notes or loans; provided that such Indebtedness meets the Permitted Other Debt Conditions (to the
extent applicable thereto). Permitted Unsecured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor. 

“Person”: an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust,
unincorporated association, joint venture, Governmental Authority or other entity of whatever nature. 
 “Plan”: at a
particular time, any “employee benefit plan” (as defined by Section 3(3) of ERISA) that is subject to Title IV of ERISA and in respect of which the Company or a Commonly Controlled Entity is (or, if such plan were terminated at such
time, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Plan Asset Regulations”: 29 CFR § 2510.3-101, as modified by Section 3(42)
of ERISA, as amended from time to time. 
 “Pounds Sterling”: the lawful currency of the United Kingdom of Great Britain
and Northern Ireland. 
 “Pricing Grid”: the pricing grid attached hereto as Annex A. 

“Pricing Level”: as defined in the Pricing Grid. 

“Prime Rate”: the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if
The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if
such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as determined by the Administrative Agent). Each change in the Prime Rate shall
be effective from and including the date such change is publicly announced or quoted as being effective. 

  
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 “Pro Forma Basis” or “pro forma effect”: with respect to
any determination of the Total Leverage Ratio, the First Lien Leverage Ratio, the Senior Secured Leverage Ratio, the Consolidated Interest Coverage Ratio, Consolidated EBITDA or Consolidated Net Income (including component definitions thereof), that
each Specified Transaction shall be deemed to have occurred as of the first day of the applicable Test Period with respect to any test or covenant for which such calculation is being made and that: 

(a) (i) in the case of (A) any Disposition of all or substantially all of the Capital Stock of any Subsidiary or any division and/or
product line of the Company or any Subsidiary or (B) any designation of a Subsidiary as an Unrestricted Subsidiary, income statement items (whether positive or negative) attributable to the property or Person subject to such Specified
Transaction, shall be excluded as of the first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is being made and (ii) in the case of any permitted acquisition, Investment and/or
designation of an Unrestricted Subsidiary as a Subsidiary described in the definition of the term “Specified Transaction”, income statement items (whether positive or negative) attributable to the property or Person subject to such
Specified Transaction shall be included as of the first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is being made; provided that any pro forma adjustment may be applied to any such test
or covenant solely to the extent that such adjustment is consistent with, subject to the limitations set forth in and without duplication with respect to the application of, the definition of “Consolidated EBITDA”, 

(b) any Expected Cost Savings shall be calculated on a Pro Forma Basis as though such Expected Cost Savings had been realized on the first day
of the applicable Test Period and as if such Expected Cost Savings were realized in full during the entirety of such period; provided that any pro forma adjustment may be applied to any such test or covenant solely to the extent that such adjustment
is consistent with, subject to the limitations set forth in and without duplication with respect to the application of, the definition of “Consolidated EBITDA”, 

(c) any retirement or repayment of Indebtedness (other than normal fluctuations in revolving Indebtedness incurred for working capital
purposes) shall be deemed to have occurred as of the first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is being made, and 

(d) any Indebtedness incurred by the Company or any of its Subsidiaries in connection therewith shall be deemed to have occurred as of the
first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is being made; provided that (x) if such Indebtedness has a floating or formula rate, such Indebtedness shall have an implied rate
of interest for the applicable Test Period for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness at the relevant date of determination (taking into account any interest
hedging arrangements applicable to such Indebtedness), (y) interest on any obligation with respect to any capital lease shall be deemed to accrue at an interest rate determined by a Responsible Officer of the Company in good faith to be the rate of
interest implicit in such obligation in accordance with GAAP and (z) interest on any Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a Eurodollar Loan interbank offered rate or
other rate shall be determined to have been based upon the rate actually chosen, or if none, then based upon such optional rate chosen by the Company. 

Notwithstanding anything to the contrary set forth in the immediately preceding paragraph, for the avoidance of doubt, when calculating the
Total Leverage Ratio and the Senior Secured Leverage Ratio for purposes of the definitions of “Applicable Margin”, “Commitment Fee Rate”, “Applicable Prepayment Percentage”, “ECF Percentage” and “Pricing
Level” and for purposes of the Financial Covenants (other than for the purpose of determining pro forma compliance with the Financial Covenants as a condition to taking any action under this Agreement), the events described in the immediately
preceding paragraph that occurred subsequent to the end of the applicable Test Period shall not be given pro forma effect. 

  
 40 

 “Pro Rata Ticking Fee”: as defined in Section 2.10(c). 

“Proceeding”: as defined in Section 10.5. 

“Projections”: the financial projections for the Company and its Subsidiaries through December 31, 2021 delivered to the
Arrangers on March 17, 2019. 
 “Properties”: as defined in Section 4.18(a). 

“Proposed Foreign Subsidiary Borrower”: as defined in Section 2.29(b). 

“PTE”: a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended
from time to time. 
 “Qualified Capital Stock”: Capital Stock of the Company in respect of which no scheduled, mandatory
or required payments are due (other than payments in kind) prior to the Latest Maturity Date. 
 “Ratio Debt”: as defined
in Section 7.2(l)(i). 
 “Reclassifiable Item”: as defined in Section 1.4(a). 

“Recovery Event”: any settlement of or payment in respect of any property or casualty insurance claim or any condemnation
proceeding relating to any asset of the Company or any of its Subsidiaries. 
 “Refinanced Debt”: as defined in the
definition of “Permitted Other Debt Conditions”. 
 “Refinanced Indebtedness”: as defined in the definition of
“Permitted Refinancing”. 
 “Refinancing Amendment”: an amendment to this Agreement executed by each of
(a) the Company, (b) the Administrative Agent, (c) each Additional Refinancing Lender and (d) each Lender that agrees to provide any portion of Refinancing Term Loans or Other Revolving Commitments in accordance with
Section 2.30. 
 “Refinancing Series”: Refinancing Term Loans or Refinancing Term Commitments that are established
pursuant to the same Refinancing Amendment (or any subsequent Refinancing Amendment to the extent such Refinancing Amendment expressly provides that the Refinancing Term Loans or Refinancing Term Commitments provided for therein are intended to be a
part of any previously established Refinancing Series) and that provide for the same All-in Yield and, in the case of Refinancing Term Loans or Refinancing Term Commitments, amortization schedule. 

“Refinancing Term Commitments”: one or more Classes of Term Commitments hereunder that are established to fund Refinancing
Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing Amendment. 
 “Refinancing Term Loans”:
one or more Classes of Term Loans hereunder that result from a Refinancing Amendment. 

  
 41 

 “Register”: as defined in Section 10.6(d). 

“Registered Equivalent Notes”: with respect to any notes originally issued in an offering pursuant to Rule 144A under the
Securities Act or other private placement transaction under the Securities Act of 1933, substantially identical notes (having the same guarantees) issued in a
dollar-for-dollar exchange therefor pursuant to an exchange offer registered with the SEC. 

“Regulation U”: Regulation U of the Board as in effect from time to time. 

“Reimbursement Obligation”: the obligation of the applicable Borrower to reimburse an Issuing Lender pursuant to
Section 3.5 for amounts drawn under Letters of Credit. 
 “Related Parties”: as defined in Section 10.5. 

“Reportable Event”: any of the events set forth in Section 4043(c) of ERISA, other than those events as to which the
thirty day notice period is waived. 
 “Repricing Event”: (i) any prepayment, repayment or replacement of the Tranche B
Term Loans, in whole or in part, with the proceeds of any new or replacement tranche of long term syndicated term loans secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Lien securing the
Obligations with an All-in Yield less than the All-in Yield applicable to such portion of the Tranche B Term Loans (as such comparative yields are determined in a manner
consistent with generally accepted financial practices) and (ii) any amendment to the Loan Documents which reduces the All-in Yield applicable to the Tranche B Term Loans, in each case, the primary
purpose of which (as determined in good faith by the Company) was to reduce the All-in-Yield of such Tranche B Term Loans, but excluding any prepayment, repayment,
replacement or amendment occurring in connection with a Change of Control or a Transformative Acquisition. 
 “Required
Lenders”: at any time, the holders (other than Defaulting Lenders) of more than 50% of the sum of (i) the aggregate unpaid principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders) then outstanding and
(ii) the Total Revolving Commitments (excluding Revolving Commitments of Defaulting Lenders) then in effect or, if the Revolving Commitments have been terminated, the Total Revolving Extensions of Credit (excluding Revolving Extensions of
Credit held by Defaulting Lenders) then outstanding. 
 “Required Revolving Lenders”: at any time, the holders (other than
Defaulting Lenders) of more than 50% of the Total Revolving Commitments (excluding Revolving Commitments of Defaulting Lenders) then in effect or, if the Revolving Commitments have been terminated, the Total Revolving Extensions of Credit (excluding
Revolving Extensions of Credit held by Defaulting Lenders) then outstanding. 
 “Requirement of Law”: as to any Person, any
law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.

 “Reset Date”: as defined in Section 2.25(a). 

“Responsible Officer”: the chief executive officer, president or chief financial officer of the Company or any other
applicable Loan Party, but in any event, with respect to financial matters, the chief financial officer, Treasurer and Controller of the Company or such Loan Party, as the case may be. 

  
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 “Restricted Debt Payments”: as defined in Section 7.15. 

“Restricted Payments”: as defined in Section 7.6. 

“Retained Asset Sale Proceeds”: at any date of determination, an amount determined on a cumulative basis, that is equal to
all Net Cash Proceeds from any Asset Sale or Recover Event received by the Company or any of its Subsidiaries that, pursuant to application of the Applicable Prepayment Percentage, are or were not required to be applied to prepay Term Loans pursuant
to Section 2.13(b). 
 “Revolver Extension Request”: as defined in Section 2.26(b). 

“Revolver Extension Series”: as defined in Section 2.26(b). 

“Revolving Commitment”: as to any Revolving Lender, the obligation of such Revolving Lender, if any, to make Revolving Loans
and participate in Swingline Loans and Letters of Credit in an aggregate principal and/or face amount (based on, in the case of Foreign Currency Revolving Loans, the Dollar Equivalent of such Foreign Currency Revolving Loans) not to exceed the
amount set forth under the heading “Revolving Commitment” opposite such Lender’s name on Schedule 1.1A or in the Assignment and Assumption pursuant to which such Lender became a party hereto, as the same may be changed from time to
time pursuant to the terms hereof. The initial amount of the Total Revolving Commitments is $500,000,000. 
 “Revolving Commitment
Period”: the period from and including the Closing Date to the Revolving Termination Date. 
 “Revolving Extensions of
Credit”: as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount (based on, in the case of Foreign Currency Revolving Loans, the Dollar Equivalent of such Foreign Currency Revolving
Loans) of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s L/C Exposure and (c) such Lender’s Swingline Exposure. 

“Revolving Facility”: the Revolving Commitments and the extensions of credit made thereunder. 

“Revolving Lender”: each Lender that has a Revolving Commitment or that holds Revolving Loans, including each Lender that
became a party hereto as of the Closing Date. 
 “Revolving Loans”: as defined in Section 2.6(a). 

“Revolving Percentage”: as to any Revolving Lender at any time, the percentage which such Lender’s Revolving Commitment
then constitutes of the Total Revolving Commitments (or, at any time after the Revolving Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender’s Revolving Extensions of Credit then
outstanding constitutes of the aggregate principal amount of the Revolving Extensions of Credit then outstanding). 
 “Revolving
Termination Date”: the date which is the earlier to occur of (a) the fifth anniversary of the Closing Date and (b) the date on which the Revolving Commitments are terminated. 

“Sanctioned Country”: at any time, a country, region or territory which is itself the subject or target of any Sanctions (at
the time of this Agreement, Cuba, Iran, North Korea, Syria and Crimea). 

  
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 “Sanctioned Person”: at any time, (a) any Person listed in any
Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or by the United National Security Council, the European Union, Her Majesty’s
Treasury of the United Kingdom or any sanctions authority of Switzerland or any other jurisdiction in which any Foreign Subsidiary Borrower is organized, (b) any Person located, organized or resident in a Sanctioned Country or (c) any
Person that is deemed to be a target of Sanctions based on the direct or indirect ownership or control of such entity by any other Sanctioned Person. 

“Sanctions”: economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by
(a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or (b) the United Nations Security Council, the European Union, Her
Majesty’s Treasury of the United Kingdom or any sanctions authority of Switzerland or any other jurisdiction in which any Foreign Subsidiary Borrower is organized. 

“S&P”: as defined in the definition of “Cash Equivalents”. 

“SEC”: the Securities and Exchange Commission, any successor thereto and any analogous Governmental Authority. 

“Security Documents”: the collective reference to the Collateral Agreement, any Applicable Intercreditor Agreement, the
Mortgages and all other security documents hereafter delivered to the Administrative Agent granting a Lien on any property of any Person to secure the obligations and liabilities of any Loan Party under any Loan Document. 

“Seller”: as defined in the recitals hereto. 

“Senior Secured Leverage Ratio”: with respect to any date of determination, the ratio of (x) Consolidated Total Debt
that is secured by a Lien on the Collateral as of such date less Netted Cash as of such date to (y) Consolidated EBITDA of the Company and its Subsidiaries for the applicable Test Period. 

“Separation and Distribution Agreement”: that certain Separation and Distribution Agreement to be dated on or about
May 22, 2019 by and among the Company and VF. 
 “Shared Incremental Amount”: as of any date of determination,
(a) the greater of (x) $385,000,000 and (y) 100% of Consolidated EBITDA for the most recently ended Test Period calculated on a Pro Forma Basis minus (b) the aggregate principal amount of all Incremental Facilities, Incremental
Equivalent Debt, Ratio Debt and/or Incurred Acquisition Debt incurred or issued in reliance on the Shared Incremental Amount outstanding on such date, in each case after giving effect to any reclassification of any such Indebtedness as having been
incurred under clause (c) of the definition of “Incremental Cap” hereunder or clauses (l)(i)(B) or (p)(i)(B) of Section 7.2, as applicable. 

“Significant Subsidiary”: at any time any Subsidiary, which at such time would meet the definition of “significant
subsidiary” in Regulation S-X promulgated by the SEC. 
 “Single Employer
Plan”: any Plan that is not a Multiemployer Plan. 

  
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 “Solvent”: when used with respect to any Person, means that, as of any date
of determination, (a) the amount of the “present fair saleable value” of the assets of such Person will, as of such date, exceed the amount of all “liabilities of such Person, contingent or otherwise”, as of such date, as
such quoted terms are determined in accordance with applicable federal and state laws governing determinations of the insolvency of debtors, (b) the present fair saleable value of the assets of such Person will, as of such date, be greater than
the amount that will be required to pay the liability of such Person on its debts as such debts become absolute and matured, (c) such Person will not have, as of such date, an unreasonably small amount of capital with which to conduct its
business, and (d) such Person will be able to pay its debts as they mature in the ordinary course of business. 
 “Special
Purpose Finance Subsidiary”: a special purpose entity organized under the laws of any state of the United States of America that is formed by the Company or any of its Subsidiaries for the purpose of incurring Indebtedness the proceeds of
which will be placed in escrow, pending the use of such proceeds, to effect transactions that at the time such proceeds are released from escrow are permitted hereunder. 

“Specified Transaction”: with respect to any period, any merger, Investment, Disposition, incurrence, assumption or repayment
of Indebtedness (including the incurrence of Incremental Facilities), Restricted Payment or designation of a Subsidiary as an Unrestricted Subsidiary or of an Unrestricted Subsidiary as a Subsidiary or other event that by the terms of this Agreement
requires “Pro Forma Compliance” with a test or covenant hereunder or requires such test or covenant to be calculated on a “Pro Forma Basis”. 

“Subordinated Indebtedness”: of any Person, any Indebtedness of such Person that is contractually subordinated in right of
payment to any other Indebtedness of such Person. 
 “Subsidiary”: as to any Person, a corporation, partnership, limited
liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a
majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by
such Person. Unless otherwise qualified (i) all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Company and (ii) Unrestricted Subsidiaries shall be
deemed not to be Subsidiaries of the Company for any and all purposes of this Agreement and the other Loan Documents. The term “Subsidiary” shall not include any Special Purpose Finance Subsidiary for purposes of Section 7.1 only for
so long as the proceeds of the Indebtedness incurred by such Special Purpose Finance Subsidiary are held in escrow. 
 “Subsidiary
Borrower”: (i) Lee Wrangler and (ii) any Subsidiary of the Company that becomes a party hereto pursuant to Section 2.29 until such time as such Subsidiary Borrower is removed as a party hereto pursuant to Section 2.29. 

“Subsidiary Guarantor”: each Subsidiary of the Company other than any Excluded Subsidiary. 

“Subsidiary Holding Company”: as defined in Section 7.4(b). 

“Supply Chain Financing”: any agreement under which any bank, financial institution or other person may from time to time
provide any financial accommodation to any of the Borrowers or any Subsidiary in connection with trade payables of the Borrower or any Subsidiary, in each case issued for the benefit of any such bank, financial institution or such other person that
has acquired such trade payables pursuant to “supply chain” or other similar financing for vendors and suppliers of the Borrower or any Subsidiaries. 

  
 45 

 “Suspension Period”: the period commencing with the occurrence of a
Suspension Period Event and ending on the first date on which the requirements of a Suspension Period Event are no longer satisfied. 

“Suspension Period Event”: collectively, (a) no Indebtedness guaranteed by any of the Subsidiary Guarantors and secured
by a Lien on the Collateral is then outstanding (other than the Tranche A Term Facility or the Revolving Facility) and (b) the corporate credit and/or corporate family ratings of the Company are higher than or equal to BBB- from S&P and Baa3 from Moody’s (in each case, with a stable or positive outlook). 

“Swap”: any agreement, contract, or transaction that constitutes a “swap” within the meaning of section 1a(47) of
the Commodity Exchange Act. 
 “Swap Agreement”: any agreement with respect to any swap, forward, future or derivative
transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or
pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees
or consultants of the Company or any of its Subsidiaries shall be a “Swap Agreement”. 
 “Swap
Obligation”: with respect to any person, any obligation to pay or perform under any Swap. 
 “Swingline
Commitment”: the obligation of the Swingline Lender to make Swingline Loans pursuant to Section 2.8 in an aggregate principal amount at any one time outstanding not to exceed $50,000,000. 

“Swingline Exposure”: at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The
Swingline Exposure of any Revolving Lender at any time shall be equal to its applicable Percentage of the total Swingline Exposure at such time. 

“Swingline Lender”: as the context may require, either (i) JPMCB, in its capacity as the lender of Swingline Loans
denominated in U.S. Dollars, or (ii) JPMorgan Chase Bank, N.A., London Branch, an Affiliate of JPMCB, in its capacity as the lender of Swingline Loans denominated in Euros. 

“Swingline Loans”: as defined in Section 2.8(a). 

“Swingline Participation Amount”: as defined in Section 2.9(b). 

“Swiss Borrower”: a Borrower which is incorporated in Switzerland or, if different, is otherwise deemed to be resident in
Switzerland for purpose of Swiss Withholding Tax. 
 “Swiss Francs”: the lawful currency of Switzerland. 

“Swiss Guidelines”: all relevant guidelines or explanatory notes issued by the Swiss Federal Tax Administration as amended,
replaced or newly issued from time to time, including the established practice of the Swiss Federal Tax Administration and any court decision relating thereto. 

“Swiss Loan Parties”: each Foreign Loan Party which is incorporated in Switzerland (each a “Swiss Loan
Party”). 

  
 46 

 “Swiss Non-Bank Rules”: the Swiss
Ten Non-Qualifying Bank Rule and the Swiss Twenty Non-Qualifying Bank Rule 

“Swiss Permitted Non-Qualifying Bank”: in aggregate up to 10 (ten) Lenders which are
not, in each case, Swiss Qualifying Banks in accordance and as defined in the Swiss Guidelines but have been accepted by the Borrower as such. 

“Swiss Qualifying Bank”: a person or entity (including any commercial bank or financial institution (irrespective of its
jurisdiction of organization)) acting on its own account which has a banking licence in force and effect issued in accordance with the banking laws in its jurisdiction of incorporation, or if acting through a branch, issued in accordance with the
banking laws in the jurisdiction of such branch, and which, in both cases, effectively exercises as its main purpose a true banking activity, having bank personnel, premises, communication devices of its own and authority of decision making all in
accordance and as defined in the Swiss Guidelines. 
 “Swiss Ten Non-Qualifying Bank
Rule”: the rule that the aggregate number of creditors (or deemed creditors) (including the Lenders), other than Swiss Qualifying Banks , of a Swiss Borrower under the Agreement must not at any time exceed 10 (ten), all in accordance with
the meaning of the Swiss Guidelines. 
 “Swiss Twenty Non-Qualifying Bank Rule”:
the rule that the aggregate number of creditors (or deemed creditors) (including the Lender), other than Swiss Qualifying Banks, of a Swiss Borrower under all outstanding debts relevant for classification as debenture (Kassenobligation) (within the
meaning of the Guidelines), such as loans, facilities and/or private placements (including under this Agreement) made or deemed to be made by a Swiss Borrower must not at any time exceed 20 (twenty), all in accordance with the meaning of the Swiss
Guidelines. 
 “Swiss Withholding Tax”: any taxes levied pursuant to the Swiss Federal Act on Withholding Tax
(Bundesgesetz über die Verrechnungssteuer vom 13. Oktober 1965, SR 642.21), as amended from time to time. 

“TARGET”: the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET2) payment system (or, if such
payment system ceases to be operative, such other payment system (if any) determined by the Administrative Agent to be a suitable replacement). 

“TARGET Operating Day”: any day on which both (a) banks in London are open for general business and (b) the TARGET
is open for the settlement of payments in Euros. 
 “Taxes”: all present or future taxes, levies, imposts, duties,
deductions, withholdings (including backup withholding), assessments, or other similar charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Term B Ticking Fee” : as defined in Section 2.10(d). 

“Term Lenders”: the Tranche A Term Lenders, the Tranche B Term Lenders and any other Lender which holds a Term Loan. 

“Term Loans”: the Tranche A Term Loans, Tranche B Term Loans and any term loans made under an Incremental Facility. 

“Term Loan Extension Request”: as defined in Section 2.26(a). 

  
 47 

 “Term Loan Extension Series”: as defined in Section 2.26(a). 

“Test Period”: for any date of determination, the most recent period of four consecutive fiscal quarters of the Company ended
prior to such date of determination in respect of which financial statements have been delivered to the Administrative Agent pursuant to Section 6.1(or, prior to the delivery of any financial statements pursuant to Section 6.1, the period
of four consecutive fiscal quarters ended December 29, 2018). 
 “Title Company”: as defined in
Section 6.11(b)(a). 
 “Title Policy”: as defined in Section 6.11(b)(a). 

“Total Leverage Ratio”: with respect to any date of determination, the ratio of (x) Consolidated Total Debt as of such
date less Netted Cash as of such date to (y) Consolidated EBITDA of the Company and its Subsidiaries for the applicable Test Period. 

“Total Revolving Commitments”: at any time, the aggregate amount of the Revolving Commitments then in effect. The Total
Revolving Commitments may be increased or reduced from time to time pursuant to Sections 2.27 and 2.11, respectively. 
 “Total
Revolving Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time. 

“Tranche A Final Maturity Date”: the date which is the fifth anniversary of the Closing Date; provided, however, if such date
is not a Business Day, the Tranche A Final Maturity Date shall be the next preceding Business Day. 
 “Tranche A Term
Commitment”: as to any Tranche A Term Lender, the obligation of such Tranche A Term Lender to make a Tranche A Term Loan to the Company pursuant to Section 2.3. 

“Tranche A Term Lender”: each Lender that holds a Tranche A Term Loan or a Tranche A Term Commitment. 

“Tranche A Term Loan”: as defined in Section 2.3. The initial aggregate amount of the Tranche A Term Loans is
$750,000,000, and on the Closing Date, each Tranche A Term Lender will hold a Tranche A Term Loan in an amount equal to the amount set forth opposite its name on Schedule 1.1A, or as may subsequently be set forth in the Register from time to time,
as the same may be adjusted from time to time pursuant to this Agreement. 
 “Tranche A Term Percentage”: as to any Tranche
A Term Lender at any time, the percentage which the aggregate principal amount of such Lender’s Tranche A Term Loan then outstanding constitutes of the aggregate principal amount of all of the Tranche A Term Loans then outstanding. 

“Tranche B Final Maturity Date”: the date which is the seventh anniversary of the Closing Date; provided, however, if such
date is not a Business Day, the Tranche B Final Maturity Date shall be the next preceding Business Day. 
 “Tranche B Term
Commitment”: as to any Tranche B Term Lender, the obligation of such Tranche B Term Lender to make a Tranche B Term Loan to the Company pursuant to Section 2.1. 

  
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 “Tranche B Term Lender”: each Lender that holds a Tranche B Term Loan or a
Tranche B Term Commitment. 
 “Tranche B Term Loan”: as defined in Section 2.1. The initial aggregate amount of the
Tranche B Term Loans is $300,000,000, and on the Closing Date, each Tranche B Term Lender will hold a Tranche B Term Loan in an amount equal to the amount set forth opposite its name on Schedule 1.1 A, or as may subsequently be set forth in the
Register from time to time, as the same may be adjusted from time to time pursuant to this Agreement. 
 “Tranche B Ticking Fee
Rate”: as defined in Section 2.10(d). 
 “Transactions”: collectively, (i) the entering into, and
creating security interests in Collateral under, the Loan Documents and the use of the proceeds of the Loans pursuant thereto, (ii) the Closing Date Cash Transfer and (iii) the payment of fees and expenses incurred in connection with the
foregoing clauses (i) through (ii). 
 “Transferee”: any Assignee or Participant. 

“Transformative Acquisition”: any material acquisition or investment by the Company or any of its Subsidiaries in or with a
third party that is either (a) not permitted by the terms of the Loan Documents immediately prior to the signing or consummation of such acquisition or investment or (b) if permitted by the terms of the Loan Documents immediately prior to
the signing or consummation of such acquisition or investment, would not provide the Company and its Subsidiaries with adequate flexibility under the Loan Documents for the continuation and/or expansion of their combined operations following such
consummation. 
 “Treaty”: the Treaty establishing the European Economic Community, being the Treaty of Rome of
March 25, 1957 as amended by the Single European Act 1986 and the Maastricht Treaty (which was signed on February 7, 1992 and came into force on November 1, 1993) and as may from time to time be further amended, supplemented or
otherwise modified. 
 “Type”: as to any Loan, its nature as an ABR Loan, a Canadian Prime Rate Loan, a Eurodollar Loan,
CDOR Loan or an Overnight LIBOR Loan. 
 “U.S. Dollars” or “$”: dollars in lawful currency of the United
States. 
 “U.S. Person”: as defined in Section 2.21(f)(i). 

“UCP”: with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits, International Chamber
of Commerce Publication No. 600 (or such later version thereof as may be in effect at the time of issuance). 
 “United
States” and “U.S.”: the United States of America. 
 “Unrestricted Subsidiary”: (a) any
Subsidiary of the Company that is designated as an Unrestricted Subsidiary by the Company pursuant to Section 6.10 subsequent to the Closing Date and (b) any subsidiary of an Unrestricted Subsidiary. 

  
 49 

 “Weighted Average Life to Maturity”: when applied to any Indebtedness at
any date, the number of years obtained by dividing: (i) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including
payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (ii) the then
outstanding principal amount of such Indebtedness; provided that, for purposes of determining the Weighted Average Life to Maturity of any Indebtedness that is being extended, replaced, refunded, refinanced, renewed or defeased, the effect of
any amortization or prepayment prior to the date of the applicable extension, replacement, refunding, refinancing, renewal or defeasance shall be disregarded. 

“Wholly Owned Subsidiary”: as to any Person, any other Person all of the Capital Stock of which (other than directors’
qualifying shares required by law) is owned by such Person directly and/or through other Wholly Owned Subsidiaries. 
 “Withholding
Agent”: the Company and the Administrative Agent. 
 “Write-Down and Conversion Powers”: with respect to any EEA
Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and
conversion powers are described in the EU Bail-In Legislation Schedule. 
 “Yen”:
the lawful currency of Japan. 
 1.2. Other Definitional Provisions. (a) Unless otherwise specified therein, all terms defined
in this Agreement shall have the defined meanings when used in the other Loan Documents or any certificate or other document made or delivered pursuant hereto or thereto. 

(b) As used herein and in the other Loan Documents, and any certificate or other document made or delivered pursuant hereto or thereto,
(i) accounting terms relating to the Company and its Subsidiaries not defined in Section 1.1 and accounting terms partly defined in Section 1.1, to the extent not defined, shall have the respective meanings given to them under GAAP,
(ii) the words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation,” (iii) the word “incur” shall be construed to mean incur, create, issue,
assume, become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall have correlative meanings), and (iv) the words “asset” and “property” shall be construed to have the
same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, Capital Stock, securities, revenues, accounts, leasehold interests and contract rights. 

(c) The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall
refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement unless otherwise specified. 

(d) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. 

(e) Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and
all computations of amounts and ratios referred to herein shall be made, without giving effect to (i) any election under Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or
any other Accounting Standards Codification, International Accounting Standard or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Company or any subsidiary at “fair
value,” as defined therein, (ii) any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards 

  
 50 

 
Codification, International Accounting Standard or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described
therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof and (iii) the application of Accounting Standards Codification 480, 815, 805 and 718 (to the extent these pronouncements under Accounting
Standards Codification 718 result in recording an equity award as a liability on the consolidated balance sheet of the Company and its Subsidiaries in the circumstance where, but for the application of the pronouncements, such award would have been
classified as equity). 
 (f) Notwithstanding anything to the contrary herein, no Default shall arise as a result of any limitation set forth
in U.S. Dollars in Section 7 (or in any defined term used therein) being exceeded solely as a result of changes in currency exchange rates from the currency exchange rates applicable at the time or times the related transaction was entered into
or designated as a Cash Management Obligation provided that, for purposes of determining whether a new transaction or designation complies with any such limitation set forth in U.S. Dollars in Section 7 (or in any defined term used therein),
the then current currency exchange rates shall be applied to all previous transactions or designations made in reliance on such limitation. 

(g) The headings, subheadings and table of contents used herein or in any other Loan Document are solely for convenience of reference and shall
not constitute a part of any such document or affect the meaning, construction or effect of any provision thereof. 
 1.3. Currency
Conversion. (a) If more than one currency or currency unit are at the same time recognized by the central bank of any country as the lawful currency of that country, then (i) any reference in the Loan Documents to, and any obligations
arising under the Loan Documents in, the currency of that country shall be translated into or paid in the currency or currency unit of that country designated by the Administrative Agent and (ii) any translation from one currency or currency
unit to another shall be at the official rate of exchange recognized by the central bank for conversion of that currency or currency unit into the other, rounded up or down by the Administrative Agent as it deems appropriate in its reasonable
discretion. 
 (b) If a change in any currency of a country occurs, this Agreement shall be amended (and each party hereto agrees to enter
into any supplemental agreement necessary to effect any such amendment) to the extent that the Administrative Agent determines such amendment to be necessary to reflect the change in currency and to put the Lenders and the Loan Parties in the same
position, so far as possible, that they would have been in if no change in currency had occurred. 
 1.4. Terms Generally; Pro Forma
Calculations. (a) For purposes of determining compliance at any time with Sections 7.2, 7.3, 7.4, 7.5, 7.6, 7.10 and 7.15, in the event that any Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition and/or
Affiliate transactions or portion thereof, as applicable, at any time meets the criteria of more than one of the categories of transactions or items permitted pursuant to any clause of such Sections 7.2 (other than Section 7.2(a)), 7.3 (other
than Section 7.3(j)), 7.4, 7.5, 7.6 and 7.15 (each of the foregoing, a “Reclassifiable Item”), the Company, in its sole discretion, may, from time to time, divide, classify or reclassify such Reclassifiable Item (or portion
thereof) under one or more clauses of each such Section and will only be required to include such Reclassifiable Item (or portion thereof) in any one category; provided that, upon delivery of any financial statements pursuant to Section 6.1
following the initial incurrence or making of any such Reclassifiable Item, if such Reclassifiable Item could, based on such financial statements, have been incurred or made in reliance on any “ratio-based” basket or exception, such
Reclassifiable Item shall automatically be reclassified as having been incurred or made under the applicable provisions of such “ratio-based” basket or exception, as applicable (in each case, subject to any other applicable provision of
such “ratio-based” basket or exception, as applicable). It is understood and agreed that any Indebtedness, 

  
 51 

 
Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition and/or Affiliate transaction need not be permitted solely by reference to one category of permitted Indebtedness, Lien,
Restricted Payment, Restricted Debt Payment, Investment, Disposition and/or Affiliate transaction under Sections 7.2, 7.3, 7.4, 7.5, 7.6, 7.10 and 7.15, respectively, but may instead be permitted in part under any combination thereof or under any
other available exception. 
 (b) Notwithstanding anything to the contrary herein, but subject to Sections 1.4(c), (d) and (e) and the
last paragraph of the definition of “Pro Forma Basis”, all financial ratios and tests (including the First Lien Leverage Ratio, the Senior Secured Leverage Ratio, the Total Leverage Ratio, the Consolidated Interest Coverage Ratio and the
amount of Consolidated Net Income and Consolidated EBITDA contained in this Agreement that are calculated with respect to any applicable Test Period during which any Specified Transaction occurs) shall be calculated with respect to such applicable
Test Period and such Specified Transaction on a Pro Forma Basis. Further, if since the beginning of any such applicable Test Period and on or prior to the date of any required calculation of any financial ratio or test (x) any Specified
Transaction has occurred or (y) any Person that subsequently became a Subsidiary or was merged, amalgamated or consolidated with or into the Company or any of its Subsidiaries since the beginning of such applicable Test Period has consummated
any Specified Transaction, then, in each case, any applicable financial ratio or test shall be calculated on a Pro Forma Basis for such applicable Test Period as if such Specified Transaction had occurred at the beginning of the applicable Test
Period. 
 (c) For purposes of determining the permissibility of any action, change, transaction or event that requires a calculation of any
financial ratio or financial test (including any First Lien Leverage Ratio test, any Senior Secured Leverage Ratio test, any Total Leverage Ratio test and/or any Consolidated Interest Coverage Ratio test) and/or the amount of Consolidated EBITDA or
Consolidated Net Income, such financial ratio, financial test or amount shall, subject to clause (d) below, be calculated at the time such action is taken, such change is made, such transaction is consummated or such event occurs, as the case
may be, and no Default or Event of Default shall be deemed to have occurred solely as a result of a change in such financial ratio, financial test or amount occurring after the time such action is taken, such change is made, such transaction is
consummated or such event occurs, as the case may be. 
 (d) Notwithstanding anything to the contrary herein (including in connection with
any calculation made on a Pro Forma Basis), to the extent that the terms of this Agreement require (i) compliance with any financial ratio or financial test (including any First Lien Leverage Ratio test, any Senior Secured Leverage Ratio test,
any Total Leverage Ratio test and/or any Consolidated Interest Coverage Ratio test) and/or any cap expressed as a percentage of Consolidated Net Income or Consolidated EBITDA, (ii) accuracy of any representation or warranty and/or the absence
of a Default or Event of Default (or any type of default or event of default), in each case other than for purposes of the making of any Revolving Extension of Credit (other than under an Incremental Revolving Facility and to the extent not
prohibited by the terms of the applicable Incremental Facility Amendment) or (iii) compliance with any basket or other condition, as a condition to (A) the consummation of any acquisition, consolidation, business combination or similar
Investment, the consummation of which by the Company is not conditioned on the availability of, or obtaining, third party financing, and/or (B) the redemption, repurchase, defeasance, satisfaction and discharge or repayment of Indebtedness
requiring irrevocable notice in advance of such redemption, repurchase, satisfaction and discharge or repayment (clauses (A) and (B), collectively, a “Limited Condition Transaction”), the determination of whether the relevant
condition is satisfied may be made, at the election of the Company, (A) in the case of any such acquisition, consolidation, business combination or similar Investment, at the time of (or on the basis of the most recent financial statements
delivered pursuant to Section 6.1) either (x) the execution of a letter of intent or the definitive agreement with respect to such acquisition, consolidation, business combination, similar Investment (or, solely in connection with an
acquisition, consolidation or business combination to which the United Kingdom City Code on Takeovers and Mergers applies, the date on 

  
 52 

 
which a “Rule 2.7 Announcement” of a firm intention to make an offer) or the establishment of a commitment with respect to such Indebtedness or (y) the consummation of such
acquisition, consolidation, business combination or Investment and (B) in the case of any redemption, repurchase, defeasance, satisfaction and discharge or repayment of Indebtedness, at the time of (or on the basis of the most recent financial
statements delivered pursuant to Section 6.1 at the time of) (x) delivery of irrevocable notice with respect to such redemption, repurchase, defeasance, satisfaction and discharge or repayment of Indebtedness or (y) the redemption,
repurchase, defeasance, satisfaction and discharge or repayment of such Indebtedness, in each case, after giving effect on a Pro Forma Basis to the relevant acquisition, consolidation, business combination or similar Investment and/or Restricted
Debt Payment, incurrence of Indebtedness or other transaction (including the intended use of proceeds of any Indebtedness to be incurred in connection therewith) and any other acquisition, consolidation, business combination or similar Investment,
redemption, repurchase, defeasance, satisfaction and discharge or repayment of Indebtedness, incurrence of Indebtedness or other transaction that has not been consummated but with respect to which the Company has elected to test any applicable
condition prior to the date of consummation in accordance with this Section 1.4(d), and no Default or Event of Default shall be deemed to have occurred solely as a result of an adverse change in such test or condition occurring after the time
such election is made (but any subsequent improvement in the applicable ratio, test or amount may be utilized by the Company or any Subsidiary). For the avoidance of doubt, if the Company shall have elected the option set forth in clause (x) of
any of the preceding clauses (1) or (2) in respect of any transaction, then (i) the Company shall be permitted to consummate such transaction even if any applicable test or condition shall cease to be satisfied subsequent to the
Company’s election of such option and (ii) any further determination with respect to incurrence tests prior to the earlier of the consummation of such Limited Condition Transaction and the termination of such Limited Condition Transaction
will require the Company to comply with such tests on a Pro Forma Basis assuming the applicable Limited Condition Transaction has been consummated and the applicable acquisition debt has been incurred. The provisions of this paragraph (d) shall
also apply in respect of the incurrence of any Incremental Facility. 
 (e) Notwithstanding anything to the contrary herein, unless the
Company otherwise notifies the Administrative Agent, with respect to any amount incurred (including under Section 2.27 (including the definition of Incremental Cap used therein)) or transaction entered into (or consummated) in reliance on a
provision of this Agreement that does not require compliance with a financial ratio or financial test (including any First Lien Leverage Ratio test, any Senior Secured Leverage Ratio test, any Total Leverage Ratio test and/or any Consolidated
Interest Coverage Ratio test) (any such amount, including any amount drawn under the Revolving Facility, any or any other permitted revolving facility and any cap expressed as a percentage of Consolidated EBITDA, a “Fixed Amount”)
substantially concurrently with any amount incurred or transaction entered into (or consummated) in reliance on a provision of this Agreement that requires compliance with a financial ratio or financial test (including any First Lien Leverage Ratio
test, any Senior Secured Leverage Ratio test, any Total Leverage Ratio test and/or any Consolidated Interest Coverage Ratio test) (any such amount, an “Incurrence-Based Amount”), it is understood and agreed that (i) the
incurrence of the Incurrence-Based Amount shall be calculated first without giving effect to any Fixed Amount but giving full pro forma effect to the use of proceeds of such Fixed Amount and the related transactions and (ii) the incurrence of
the Fixed Amount shall be calculated thereafter. Unless the Company elects otherwise, the Company shall be deemed to have used amounts under an Incurrence-Based Amount then available to the Company prior to utilization of any amount under a Fixed
Amount then available to the Company. 
 (f) The principal amount of any non-interest bearing
Indebtedness or other discount security constituting Indebtedness at any date shall be the principal amount thereof that would be shown on a balance sheet of the Company dated such date prepared in accordance with GAAP. 

  
 53 

 (g) The increase in any amount of Indebtedness or any increase in any amount secured by any
Lien by virtue of the accrual of interest, the accretion of accreted value, the payment of interest or a dividend in the form of additional Indebtedness, amortization of original issue discount and/or any increase in the amount of Indebtedness
outstanding solely as a result of any fluctuation in the exchange rate of any applicable currency shall be deemed to be permitted Indebtedness for purposes of Section 7.2 and will be deemed not to be the granting of a Lien for purposes of
Section 7.3. 
 (h) For purposes of determining compliance with Section 7.2 or Section 7.3, if any Indebtedness or Lien is
incurred in reliance on a basket measured by reference to a percentage of Consolidated EBITDA, and any refinancing or replacement thereof would cause the percentage of Consolidated EBITDA to be exceeded if calculated based on the Consolidated EBITDA
on the date of such refinancing or replacement, such percentage of Consolidated EBITDA will be deemed not to be exceeded so long as the principal amount of such refinancing or replacement Indebtedness or other obligation does not exceed an amount
sufficient to repay the principal amount of such Indebtedness or other obligation being refinanced or replaced, except by an amount equal to (x) unpaid accrued interest, penalties and premiums (including tender, prepayment or repayment
premiums) thereon plus underwriting discounts and other customary fees, commissions and expenses (including upfront fees, original issue discount or initial yield payment) incurred in connection with such refinancing or replacement, (y) any
existing commitments unutilized thereunder and (z) additional amounts permitted to be incurred under Section 7.2 and, to the extent secured by a Lien, Section 7.3 (and, in each case, the applicable clause of Section 7.2 and
Section 7.3 shall be deemed to be utilized by the amount so incurred). 
 (i) For the avoidance of doubt, for purposes of determining
compliance with Section 7.2(h), (j), (l), (n) and (p) and any other comparable provision of Section 7.2, a Permitted Refinancing in respect of Indebtedness incurred pursuant to a U.S. Dollar-denominated or Consolidated EBITDA-governed
basket shall not increase capacity to incur Indebtedness under such U.S. Dollar-denominated or EBITDA-governed basket, and such U.S. Dollar-denominated or EBITDA-governed basket shall be deemed to continue to be utilized by the amount of the
original Indebtedness incurred unless and until the Indebtedness incurred to effect such Permitted Refinancing is no longer outstanding. 

(j) Any financial ratios required to be maintained by the Company pursuant to this Agreement (or required to be satisfied in order for a
specific action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and
rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 

(k) For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law: (a) if any asset,
right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person
comes into existence, such new Person shall be deemed to have been organized and acquired (or, if such subsequent Person ceases to be a Subsidiary of the original Person, disposed of) on the first date of its existence by the holders of its Capital
Stock at such time. 
 1.5. Swiss terms. In this Agreement, where it relates to a Swiss entity, such as a Swiss Borrower, a reference
to a winding-up or dissolution includes: 
 (a) a filing for the declaration of bankruptcy (Antrag
auf Konkurseröffnung) or a formal declaration of bankruptcy (Konkurseröffnung) within the meaning of the Swiss Federal Debt Enforcement and Bankruptcy Act; 

  
 54 

 (b) the filing for a request for a moratorium (Gesuch um Nachlasstundung) or a grant
of a moratorium (Nachlassstundung) within the meaning of the Swiss Federal Debt Enforcement and Bankruptcy Act; 
 (c) a moratorium on
any of its indebtedness, its dissolution or liquidation; and 
 (d) a postponement of a bankruptcy (Konkursaufschub) within the
meaning of Art. 725a of the Swiss Code of Obligations. 
 SECTION 2. AMOUNT AND TERMS OF LOANS AND COMMITMENTS 

2.1. Tranche B Term Commitments. Subject to the terms and conditions hereof, each Tranche B Term Lender severally agrees to make a term
loan denominated in U.S. Dollars (a “Tranche B Term Loan”) to the Company on the Closing Date in the amount set forth under the heading “Tranche B Term Loan” opposite such Tranche B Term Lender’s name on
Schedule 1.1A. The Tranche B Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Company and notified to the Administrative Agent in accordance with Sections 2.2 and 2.14. 

2.2. Procedure for Tranche B Term Loan Borrowing. The Company shall give the Administrative Agent irrevocable notice (which notice must
be received by the Administrative Agent prior to 12:00 Noon, New York City time, on the anticipated Closing Date in the case of ABR Loans or one Business Day prior to the anticipated Closing Date in the case of Eurodollar Loans) requesting that the
Tranche B Term Lenders make the Tranche B Term Loans on the Closing Date and specifying (i) the amount and the Type of Loans to be borrowed, (ii) the anticipated Closing Date and (iii) in the case of Eurodollar Loans, the length of
the initial Interest Period therefor. Each such borrowing shall be in an amount equal to (x) in the case of ABR Loans, $1,000,000 or a whole multiple thereof and (y) in the case of Eurodollar Loans, $5,000,000 or a whole multiple of
$1,000,000 in excess thereof. Upon receipt of such notice of borrowing the Administrative Agent shall promptly notify each Tranche B Term Lender thereof. Each Tranche B Term Lender will make the amount of its Tranche B Term Loan available to the
Administrative Agent for the account of the Company at the Funding Office prior to 1:00 p.m., New York City time, on the Closing Date. Such borrowing will then be made available to the Company by the Administrative Agent crediting the account of the
Company on the books of such office with the aggregate of the amounts made available to the Administrative Agent by the Tranche B Term Lenders and in like funds as received by the Administrative Agent. 

2.3. Tranche A Term Commitments. Subject to the terms and conditions hereof, each Tranche A Term Lender severally agrees to make a term
loan denominated in U.S. Dollars (a “Tranche A Term Loan”) to the Company on the Closing Date in an amount not to exceed the amount set forth under the heading “Tranche A Term Loan” opposite such Tranche A Term
Lender’s name on Schedule 1.1A. The Tranche A Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Company and notified to the Administrative Agent in accordance with Sections 2.4 and 2.14. 

2.4. Procedure for Tranche A Term Loan Borrowing. The Company shall give the Administrative Agent irrevocable notice (which notice must
be received by the Administrative Agent prior to 12:00 Noon, New York City time, on the anticipated Closing Date in the case of ABR Loans or one Business Day prior to the anticipated Closing Date in the case of Eurodollar Loans) requesting that the
Tranche A Term Lenders make the Tranche A Term Loans on the Closing Date and specifying (i) the amount and the Type of Loans to be borrowed, (ii) the anticipated Closing Date and (iii) in the case of Eurodollar Loans, the length of
the initial Interest Period therefor. Each such borrowing shall be in an amount equal to (x) in the case of ABR Loans, $1,000,000 or a whole multiple thereof and (y) in the case of Eurodollar Loans, $5,000,000 or a whole multiple of
$1,000,000 in excess thereof. Upon receipt of 

  
 55 

 
such notice of borrowing the Administrative Agent shall promptly notify each Tranche A Term Lender thereof. Each Tranche A Term Lender will make the amount of its Tranche A Term Loan available to
the Administrative Agent for the account of the Company at the Funding Office prior to 2:00 p.m., New York City time, on the Closing Date. Such borrowing will then be made available to the Company by the Administrative Agent crediting the account of
the Company on the books of such office with the aggregate of the amounts made available to the Administrative Agent by the Tranche A Term Lenders and in like funds as received by the Administrative Agent. 

2.5. Repayment of Term Loans. (a) The Tranche A Term Loan of each Tranche A Term Lender shall be repaid (i) in 19 consecutive
quarterly installments, commencing with the first full fiscal quarter ending after the Closing Date, each of which shall be in an amount equal to such Lender’s Tranche A Term Percentage multiplied by the amount set forth below opposite each
installment (as such payments may be adjusted from time to time as a result of the application of prepayments in accordance with Section 2.12 or 2.13, an extension pursuant to Section 2.26 or an increase pursuant to Section 2.27, in
each case subject solely to the applicable conditions set forth therein (and without, for the avoidance of doubt, the consent of any Lenders or other parties)) and (ii) on the Tranche A Final Maturity Date, the remainder of the principal amount
of the Tranche A Term Loans outstanding on such date, together in each case with accrued but unpaid interest on the principal amount to be paid to but excluding the date of such payment: 

 

					
	 Installment
	  	Amount	 
	 First full fiscal quarter after Closing Date
	  	$	4,687,500	 
	 Second fiscal quarter after Closing Date
	  	$	4,687,500	 
	 Third fiscal quarter after Closing Date
	  	$	4,687,500	 
	 Fourth fiscal quarter after Closing Date
	  	$	4,687,500	 
	 Fifth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Sixth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Seventh fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Eighth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Ninth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Tenth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Eleventh fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Twelfth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Thirteenth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Fourteenth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Fifteenth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Sixteenth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Seventeenth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Eighteenth fiscal quarter after Closing Date
	  	$	9,375,000	 
	 Nineteenth fiscal quarter after Closing Date
	  	$	9,375,000	 

 (b) The principal amount of the Tranche B Term Loans of the Tranche B Term Lenders shall be repaid (i) on
the last Business Day of each March, June, September and December prior to the Tranche B Final Maturity Date, commencing with the first full fiscal quarter ending after the Closing Date, in an amount equal to (A) for each of the first four
fiscal quarters ending after the Closing Date, 0.625% of the original principal amount of the Tranche B Term Loans and (B) for the fifth full fiscal quarter ending after the Closing Date and each fiscal quarter ending thereafter and prior to
the Tranche B Final Maturity Date, 1.25% of the original principal amount of the Tranche B Term Loans (in each case, as such payments may be adjusted from time to time as a result of the application of prepayments in accordance with
Section 2.12 or 2.13, an extension pursuant to Section 2.26 or an increase pursuant to Section 2.27, in each case subject solely to the applicable conditions set forth therein (and without, for the avoidance of doubt, the consent of
any Lenders or other parties)) and (ii) on the Tranche B Final Maturity Date, the remainder of the principal amount of the Tranche B Term Loans outstanding on such date, together in each case with accrued but unpaid interest on the principal
amount to be paid to but excluding the date of such payment. 

  
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 2.6. Revolving Commitments. (a) Subject to the terms and conditions hereof, each
Revolving Lender severally agrees (i) to make revolving credit loans denominated in U.S. Dollars (“Dollar Revolving Loans”) to the Borrowers and (ii) to make revolving credit loans denominated in one or more Foreign
Currencies (“Foreign Currency Revolving Loans”; together with the Dollar Revolving Loans, the “Revolving Loans”) to the Borrowers, in each case from time to time at such Borrower’s request during the Revolving
Commitment Period in an aggregate principal amount (based on, in the case of Foreign Currency Revolving Loans, the Dollar Equivalent of such Foreign Currency Revolving Loans) at any one time outstanding which, when added to the sum of (i) such
Lender’s Revolving Percentage of the sum of (x) the L/C Obligations then outstanding and (y) the aggregate principal amount of the Revolving Loans then outstanding and (ii) such Lender’s Swingline Exposure then outstanding
(which, in the case of the Swingline Lender, shall be the aggregate principal amount of all Swingline Loans outstanding at such time less the participation amounts otherwise funded by the Revolving Lenders other than a Swingline Lender) does not
exceed the amount of such Lender’s Revolving Commitment, after giving effect to the use of proceeds of any Revolving Loans to repay any Swingline Loans. During the Revolving Commitment Period each Borrower may use the Revolving Commitments by
borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Dollar Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the applicable
Borrower and notified to the Administrative Agent in accordance with Sections 2.7 and/or 2.14. The Foreign Currency Revolving Loans denominated in any Foreign Currency other than Canadian Dollars shall be Eurodollar Loans. The Foreign Currency
Revolving Loans denominated in Canadian Dollars shall be CDOR Loans or Canadian Prime Rate Loans, as determined by the applicable Borrower and notified to the Administrative Agent in accordance with Sections 2.7 and/or 2.14. 

(b) Each Borrower shall repay all outstanding Revolving Loans made to such Borrower on the Revolving Termination Date; provided, for the
avoidance of doubt, that nothing in this Section 2.6(b) creates any obligation for (i) any Foreign Subsidiary Borrower to repay any Obligation of any Domestic Borrower or (ii) any Domestic Borrower to repay any Obligation of any
Foreign Subsidiary Borrower. 
 (c) The Borrower may, subject to the conditions to borrowing set forth herein, request that any such
repayment of a Swingline Loan be financed with the proceeds of a borrowing under the Revolving Facility, upon which the Borrower’s obligation to make such repayment of such Swingline Loan shall be satisfied by the resulting borrowing under the
Revolving Facility. 
 2.7. Procedure for Revolving Loan Borrowing. (a) Each Borrower may borrow Dollar Revolving Loans under the
Revolving Commitments during the Revolving Commitment Period on any Business Day prior to the Revolving Termination Date; provided that such Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the
Administrative Agent (a) prior to 12:00 Noon, New York City time, three Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) prior to 12:00 Noon, New York City time, on the requested Borrowing Date,
in the case of ABR Loans), specifying (i) the amount and the Type of Loans to be borrowed, (ii) the requested Borrowing Date and (iii) in the case of Eurodollar Loans, the initial Interest Period therefor. Each such borrowing of
Dollar Revolving Loans shall be in an amount equal to (x) in the case of ABR Loans, $1,000,000 or a whole multiple thereof (or, if the then aggregate Available Revolving Commitments are less than $1,000,000, such lesser amount) and (y) in
the case of Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof, respectively; provided further that 

  
 57 

 
not greater than $100,000,000 (exclusive of any usage of the Revolving Facility to backstop or rollover Existing Letters of Credit or for working capital) of the Revolving Facility shall be
available on the Closing Date to fund the Transactions (including payment of related fees and expenses). Upon receipt of any such notice of borrowing under the Revolving Facility from a Borrower, the Administrative Agent shall promptly notify each
Lender under the Revolving Facility thereof. In the case of a borrowing under the Revolving Facility, each Revolving Lender will make the amount of its Revolving Percentage of such borrowing of Dollar Revolving Loans available to the Administrative
Agent for the account of such Borrower at the Domestic Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by such Borrower in funds immediately available to the Administrative Agent. Such borrowing will then be
made available to such Borrower by the Administrative Agent crediting the account of such Borrower on the books of such office with the aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as
received by the Administrative Agent. 
 (b) Each Borrower may borrow Foreign Currency Revolving Loans under the Revolving Commitments during
the Revolving Commitment Period on any Business Day prior to the Revolving Termination Date; provided that such Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i)
11:00 a.m., London time, three Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans denominated in a Foreign Currency other than Yen, (ii) 11:00 a.m., London time, four Business Days prior to the requested Borrowing
Date, in the case of Eurodollar Loans denominated in Yen, (iii) 11:00 a.m., Toronto time, three Business Days prior to the requested Borrowing Date, in the case of CDOR Loans or (iv) 12:00 Noon, Toronto time, one Business Day prior to the Borrowing
Date, in the case of Canadian Prime Rate Loans) specifying (i) the amount and the Type of Foreign Currency Revolving Loans to be borrowed and the Foreign Currency with respect thereto, (ii) the requested Borrowing Date and (iii) the
initial Interest Periods with respect thereto. Upon receipt of any such notice of borrowing under the Revolving Facility from a Borrower, the Administrative Agent shall promptly notify each Lender under the Revolving Facility thereof. Each borrowing
of Foreign Currency Revolving Loans shall be in a minimum amount equal to the Applicable Minimum Amount for the relevant Foreign Currency; provided that a Foreign Currency Revolving Loan denominated in Euros may be in an aggregate amount that is
required to finance the repayment of a Swingline Loan as contemplated by Section 2.6(c). Each Lender shall make the amount of its Revolving Percentage of such borrowing of Foreign Currency Revolving Loans available to the Administrative Agent
for the account of the relevant Borrower by wire transfer of immediately available funds in the relevant Foreign Currency by 12:00 Noon, London time (or 12:00 Noon, Toronto time in the case of loans denominated in Canadian Dollars), on the Borrowing
Date requested by such Borrower to the account of the Administrative Agent most recently designated by it for such purposes by notice to the Lenders. The Administrative Agent will make such Foreign Currency Revolving Loans available to the relevant
Borrower promptly crediting the amounts so received, in like funds, to the account of the relevant Borrower specified in such notice of borrowing from such Borrower. 

(c) Each Lender may, at its option, make any Loan available to any Borrower by causing any foreign or domestic branch or Affiliate of such
Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of such Borrower to repay such Loan in accordance with the terms of this Agreement. 

2.8. Swingline Commitments. (a) Subject to the terms and conditions hereof, the Swingline Lender agrees to make a portion of the
credit otherwise available to a Borrower under the Revolving Commitments by making swing line loans to such Borrower denominated in U.S. Dollars or Euros (the “Swingline Loans”) in the United States or in the United Kingdom;
provided that no Borrower shall request, and the Swingline Lender shall not make, any Swingline Loan if, after giving effect to the making of such Swingline Loan (i) the aggregate amount of the Available Revolving Commitments

  
 58 

 
would be less than zero, (ii) the aggregate amount of all Swingline Loans would exceed the Swingline Commitment or (iii) the sum of (x) the Swingline Exposure of such Swingline
Lender (which shall be the aggregate principal amount of all Swingline Loans outstanding at such time less the participation amounts otherwise funded by the Revolving Lenders other than a Swingline Lender), (y) the aggregate principal amount of
outstanding Revolving Loans made by such Swingline Lender (in its capacity as a Revolving Lender) and (z) the L/C Exposure of such Swingline Lender (in its capacity as a Revolving Lender) shall not exceed its Revolving Commitment then in
effect. During the Revolving Commitment Period, each Borrower may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Loans denominated in U.S. Dollars shall be ABR
Loans only and Swingline Loans denominated in Euros shall be Overnight LIBOR Swingline Loans only. 
 (b) The applicable Borrower shall repay
to the Swingline Lender the then unpaid principal amount of each Swingline Loan no later than the earlier of (a) the tenth Business Day after the making of such Swingline Loan and (b) the Revolving Termination Date; provided, for the
avoidance of doubt, that nothing in this Section 2.8(b) creates any obligation for (i) any Foreign Subsidiary Borrower to repay any Obligation of any Domestic Borrower or (ii) any Domestic Borrower to repay any Obligation of any
Foreign Subsidiary Borrower. 
 2.9. Procedure for Swingline Borrowing; Refunding of Swingline Loans. (a) Whenever a Borrower
desires that the Swingline Lender make Swingline Loans, it shall give the Swingline Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swingline Lender not later than 2:00 p.m. New
York City time (in the case of a Swingline Loan denominated in U.S. Dollars) or 2:00 p.m. London time (in the case of a Swingline Loan denominated in Euros) on the proposed Borrowing Date), specifying (i) the amount to be borrowed and the
currency and (ii) the requested Borrowing Date (which shall be a Business Day during the Revolving Commitment Period). Each borrowing under the Swingline Commitment denominated in U.S. Dollars shall be in an amount equal to $100,000 or a whole
multiple of $100,000 in excess thereof, and each borrowing under the Swingline Commitment denominated in Euros shall be in an amount equal to €100,000 or a whole multiple of €100,000 in excess thereof. Not later than 3:00 p.m. New York
City time (in the case of a Swingline Loan denominated in U.S. Dollars) or 3:00 p.m. London time, (in the case of a Swingline Loan denominated in Euros), on the Borrowing Date specified in a notice in respect of Swingline Loans, the Swingline Lender
shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the amount of the Swingline Loan to be made by the Swingline Lender. The Administrative Agent shall make the proceeds of such
Swingline Loan available to the applicable Borrower on such Borrowing Date by depositing such proceeds in the account of the applicable Borrower with the Administrative Agent on such Borrowing Date in immediately available funds. 

(b) The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, require each Revolving Lender to purchase
for cash an undivided participating interest in the then outstanding Swingline Loans made by the Swingline Lender by paying to the Swingline Lender an amount (the “Swingline Participation Amount”) equal to (i) such Revolving
Lender’s Revolving Percentage times (ii) the sum of the aggregate principal amount of Swingline Loans made by the Swingline Lender then outstanding. 

(c) Whenever, at any time after the Swingline Lender has received from any Revolving Lender such Lender’s Swingline Participation Amount,
the Swingline Lender receives any payment on account of the applicable Swingline Loans, the Swingline Lender will distribute to such Lender its Swingline Participation Amount (appropriately adjusted, in the case of interest payments, to reflect the
period of time during which such Lender’s participating interest was outstanding and funded and, in the case of principal and interest payments, to reflect such Lender’s pro rata portion of such payment if such payment is not sufficient to
pay the principal of and interest on all Swingline Loans made by the Swingline Lender then due); provided, however, that in the event that such payment received by the Swingline Lender is required to be returned, such Revolving Lender will return to
the Swingline Lender any portion thereof previously distributed to it by the Swingline Lender. 

  
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 (d) Each Revolving Lender’s obligation to purchase participating interests pursuant to
Section 2.9(b) shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such Revolving Lender or any Borrower may have against the
Swingline Lender, any Borrower or any other Person for any reason whatsoever; (ii) the occurrence or continuance of a Default or the failure to satisfy any of the other conditions specified in Section 5; (iii) any adverse change in the
condition (financial or otherwise) of any Borrower; (iv) any breach of this Agreement or any other Loan Document by any Borrower, any other Loan Party or any other Lender; or (v) any other circumstance, happening or event whatsoever,
whether or not similar to any of the foregoing. 
 (e) If the maturity date shall have occurred in respect of any tranche of Revolving
Commitments at a time when another Class(es), tranche(s) or series of Revolving Commitments is or are in effect with a longer maturity date (each, a “Non-Expiring Credit Commitment” and
collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swingline Loan, if consented to by the Swingline Lender, on the earliest occurring maturity date,
such Swingline Loan shall be deemed reallocated to the Class(es), tranche(s) or series of the Non-Expiring Credit Commitments on a pro rata basis; provided that to the extent that the amount of such
reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swingline Loans to be
reallocated equal to such excess shall be repaid. Upon the maturity date of any tranche of Revolving Commitments, the sublimit for Swingline Loans may be reduced as agreed between the Swingline Lender and the Company, without the consent of any
other Person. 
 2.10. Commitment Fees, etc. (a) The Borrowers agree to pay to the Administrative Agent for the account of each
Revolving Lender a commitment fee for the period from and including the Closing Date to the last day of the Revolving Commitment Period, computed at the Commitment Fee Rate on the average daily Available Revolving Commitment of such Lender during
the period for which payment is made, payable quarterly in arrears on the second Business Day of each January, April, July and October and on the Revolving Termination Date, commencing on the first of such dates to occur after the Closing Date. 

(b) The Borrowers agree to pay to the Administrative Agent the fees in the amounts and on the dates previously agreed to in writing by the
Company and the Administrative Agent. 
 (c) The Borrowers agree to pay to the Administrative Agent for the ratable account of each Lender
with a Tranche A Term Commitment or Revolving Commitment, a fee which shall accrue at the rate of 0.30% per annum of the total outstanding amount of the Revolving Commitments and Tranche A Term Commitments (the foregoing fee, the “Pro Rata
Ticking Fee”). The Pro Rata Ticking Fee shall accrue during the period commencing on the date that is 46 days following the date of allocation of the Tranche A Term Commitments and Revolving Commitments, as applicable, to the earlier of
(x) the Closing Date and (y) the date of the termination or expiration of the Tranche A Term Commitments or Revolving Commitments, respectively, and be payable in full on such earlier date. 

  
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 (d) The Company agrees to pay to the Administrative Agent for the ratable account of each
Lender with a Tranche B Term Commitment, a fee which shall accrue at Tranche B Ticking Fee Rate on the total outstanding amount of the Tranche B Term Commitments (the foregoing fee, the “Term B Ticking Fee”). The Term B Ticking Fee
shall accrue during the period commencing on the date that is 46 days following the date of allocation of the Tranche B Term Commitments (the “Allocation Date”) to the earlier of (x) the Closing Date and (y) the date of
termination or expiration of the Tranche B Term Commitments, and be payable in full on such earlier date. The “Tranche B Ticking Fee Rate” means (1) for the period from (and including) the date that is 46 days following
Allocation Date through (and including) the date that is 75 days following the Allocation Date, 2.125% per annum and (2) for the period from (and including) the date that is 76 days following the Allocation Date until the earlier of the Closing
Date and the date of termination or expiration of the Tranche B Term Commitments, the sum of (A) 4.25% per annum and (B) the Eurodollar Rate for Loans denominated in U.S. Dollars (including any floor applicable thereto) based on a one month
Interest Period. 
 2.11. Termination or Reduction of Revolving Commitments. The Company shall have the right, upon not less than
three Business Days’ notice (or shorter notice period approved by the Administrative Agent) to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided
that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of
Credit would exceed the Total Revolving Commitments. Any such partial reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect. Each reduction of the
Revolving Commitments shall be made ratably among the Revolving Lenders in accordance with their respective Revolving Commitments. Notwithstanding the foregoing, the Company may rescind or postpone any notice of termination of the Revolving
Commitments if such termination would have resulted from a refinancing of all or any portion of any Facility or Facilities, which refinancing shall not be consummated or otherwise shall be delayed. 

2.12. Optional Prepayments. (a) The Borrowers may at any time and from time to time prepay the Loans (other than Foreign Currency
Revolving Loans), in whole or in part, without premium or penalty (except as set forth below), upon notice delivered to the Administrative Agent (a) at least three Business Days (or shorter notice period approved by the Administrative Agent)
prior thereto in the case of Eurodollar Loans and (b) on the same Business Day in the case of ABR Loans or Overnight LIBOR Loans, which notice shall specify the date and amount of prepayment and whether the prepayment is of Eurodollar Loans,
ABR Loans or Overnight LIBOR Loans; provided, that if a Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, such Borrower shall also pay any amounts owing pursuant to Section 2.22. The
Borrowers may at any time and from time to time prepay Foreign Currency Revolving Loans of one or more Classes, series or tranches, in whole or in part, without premium or penalty, upon notice delivered to the Administrative Agent, (a) not
later than 11:00 a.m., London time (or in the case of Foreign Currency Revolving Loans denominated in Canadian Dollars, 11:00 a.m. Toronto time), three Business Days (or shorter notice period approved by the Administrative Agent) prior to the date
of prepayment in the case of Eurodollar Loans or CDOR Loans or (b) not later than 11:00 a.m. Toronto time on the same Business Day in the case of Canadian Prime Rate Loans, which notice shall specify the date, amount, Type, Class or
tranche and Foreign Currency of such Loan to be prepaid; provided, that if a Eurodollar Loan or CDOR Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Company shall also pay any amounts owing pursuant
to Section 2.22. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified
therein, together with (except in the case of Revolving Loans that are ABR Loans or Canadian Prime Rate Loans and Swingline Loans that are ABR Loans) accrued interest to such date on the amount prepaid; provided that notwithstanding anything to the
contrary contained in this Agreement, the Company may rescind, or extend the date for prepayment specified in, any notice of prepayment under this Section 2.12(a), if such prepayment would have resulted from a refinancing of all

  
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or any portion of any Facility or Facilities which refinancing shall not be consummated or shall otherwise be delayed. Partial prepayments of Tranche A Term Loans and Dollar Revolving Loans shall
be in an aggregate principal amount of $1,000,000 or a whole multiple thereof. Partial prepayments of Swingline Loans shall be in an aggregate principal amount of $100,000 or a whole multiple thereof. Partial prepayments of Foreign Currency
Revolving Loans shall be in a minimum principal amount equal to the Applicable Minimum Amount for the relevant Foreign Currency. Any optional prepayments of the Term Loans shall be applied to the remaining installments thereof as selected by the
Company (or absent any such selection in the direct order of maturity). 
 (b) If a Repricing Event occurs on or prior to the date that is
six months after the Closing Date, a 1.00% prepayment premium shall be paid on the principal amount of the Tranche B Term Loans prepaid, repaid or subject to an amendment (including to any Lenders that do not consent to such amendment and are
required to assign their loans in connection with such amendment) in each case in connection with such Repricing Event. 
 2.13. Mandatory
Prepayments. (a) If any Indebtedness shall be incurred by the Company or any of its Subsidiaries after the Closing Date (other than any permitted Indebtedness incurred in accordance with Section 7.2 (except for Credit Agreement
Refinancing Indebtedness which shall be applied in accordance with clause (iii) of the definition thereof)), an amount equal to 100% of the Net Cash Proceeds thereof shall be applied on the date of such issuance or incurrence toward the
prepayment of the Term Loans as set forth in Section 2.13(d). 
 (b) If on any date the Company or any of its Subsidiaries shall receive
Net Cash Proceeds from any Asset Sale or Recovery Event then, the Applicable Prepayment Percentage of such Net Cash Proceeds shall be applied on the fifth Business Day following the receipt thereof toward the prepayment of the Term Loans as set
forth in Section 2.13(d); provided, that, notwithstanding the foregoing, at the option of the Company, the Company may reinvest the Net Cash Proceeds in the business of the Company or any of its Subsidiaries within (x) 12 months following the
receipt of such Net Cash Proceeds or (y) 18 months following the receipt of such Net Cash Proceeds, in the event that the Company or any of its Subsidiaries shall have entered into a binding commitment within 12 months following the receipt of such
Net Cash Proceeds to reinvest such Net Cash Proceeds in the business of the Company or any of its Subsidiaries (it being understood that if any portion of such Net Cash Proceeds are no longer intended to be reinvested or are not reinvested within
such 18-month period, the Applicable Prepayment Percentage of such Net Cash Proceeds shall be applied on the fifth Business Day after the Company reasonably determines that such Net Cash Proceeds are no longer intended to be or are not reinvested
within such 18-month period toward prepayment of the Term Loans as set forth in Section 2.13(d)); provided that if at the time that any such prepayment would be required, the Company or any of its Subsidiaries is required to prepay or
offer to repurchase with the Net Cash Proceeds of such Asset Sale or Recovery Event any Incremental Equivalent Debt, Credit Agreement Refinancing Indebtedness, Ratio Debt, Incurred Acquisition Debt or any other Indebtedness outstanding at such time,
in each case that is secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations pursuant to the terms of the documentation governing such Indebtedness (such
Indebtedness required to be offered to be so repurchased, “Other Applicable Asset Sale Indebtedness”), then the Company may apply the Net Cash Proceeds on a pro rata basis (determined on the basis of the aggregate outstanding
principal amount of the Term Loans and Other Applicable Asset Sale Indebtedness at such time) to the prepayment of such Other Applicable Asset Sale Indebtedness; it being understood that the portion of the Net Cash Proceeds allocated to the Other
Applicable Asset Sale Indebtedness shall not exceed the amount of the Net Cash Proceeds required to be allocated to the Other Applicable Asset Sale Indebtedness pursuant to the terms thereof (and the remaining amount, if any, of the Net Cash
Proceeds shall be allocated to the Term Loans in accordance with the terms hereof), and the amount of the prepayment of the Term Loans that would have otherwise been required pursuant to this Section 2.13(b) shall be reduced accordingly. 

  
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 (c) In the event that for any fiscal year of the Company (commencing with the first full
fiscal year ending after the Closing Date), there shall be Excess Cash Flow, the Company shall, on the relevant Excess Cash Flow Application Date, prepay Tranche B Term Loans in an aggregate amount (the “ECF Prepayment Amount”)
equal to the ECF Percentage of such Excess Cash Flow less (i) the aggregate amount of voluntary prepayments, redemptions and repurchases of (including in connection with any termination of Commitments pursuant to Section 2.24 or any
purchases described in Section 10.6(k), which shall be credited to the extent of the principal amount of the Indebtedness purchased or terminated) (A) Term Loans (including Loans under Incremental Term Facilities), Incremental Equivalent
Debt, Credit Agreement Refinancing Indebtedness, Refinancing Term Loans, Other Revolving Loans, Ratio Debt, Incurred Acquisition Debt and any other Indebtedness permitted under Section 7.2, in each case under this
sub-clause (A), to the extent such debt is secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations and (B) the Loans
under the Revolving Facility (including Loans under any Incremental Revolving Facility) (to the extent accompanied by a permanent reduction of the corresponding Revolving Commitment), in the case of each of clause (A) and clause (B), made
during such fiscal year (without duplication in the next fiscal year) or, at the Company’s election, after the end of such fiscal year and prior to the time such Excess Cash Flow prepayment is due, and other than to the extent that any such
prepayment, redemption or repurchase is funded with the proceeds of Long-Term Indebtedness and (ii) the aggregate amount of any Capital Expenditures (including contracted but not yet consummated and planned Capital Expenditures) made during
such fiscal year (without duplication in the next fiscal year) or, at the Company’s election, after the end of such fiscal year and prior to the time such Excess Cash Flow prepayment is due, and other than to the extent that any such Capital
Expenditure is funded with the proceeds of Long-Term Indebtedness; provided that, with respect to each fiscal year, a prepayment shall only be required under this Section 2.13(c) if the applicable prepayment under this Section 2.13(c) for
such fiscal year is greater than $17,500,000 (the “ECF Threshold”); provided further that only amounts in excess of the ECF Threshold shall be required to be applied to prepay Tranche B Term Loans under this Section 2.13(c);
provided further that if at the time that any such prepayment would be required, the Company or any of its Subsidiaries is required to prepay or offer to repurchase with Excess Cash Flow any Incremental Equivalent Debt, Credit Agreement
Refinancing Indebtedness, Refinancing Term Loans, Other Revolving Loans, Ratio Debt, Incurred Acquisition Debt or any other Indebtedness outstanding at such time that is secured by a Lien on the Collateral that is pari passu (but without regard to
the control of remedies) with the Liens securing the Obligations pursuant to the terms of the documentation governing such Indebtedness (such Indebtedness required to be offered to be so repurchased, “Other Applicable ECF
Indebtedness”), then the Company may apply the ECF Prepayment Amount on a pro rata basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and Other Applicable ECF Indebtedness at such time) to the
prepayment of such Other Applicable ECF Indebtedness; it being understood that the portion of such ECF Prepayment Amount allocated to the Other Applicable ECF Indebtedness shall not exceed the portion of such ECF Prepayment Amount required to be
allocated to the Other Applicable ECF Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of such ECF Prepayment Amount shall be allocated to the Tranche B Term Loans in accordance with the terms hereof. 

(d) The application of any prepayment pursuant to Section 2.13(a) or (b) shall be made ratably to the Term Loans based on the
outstanding respective principal amounts thereof. The application of any prepayment pursuant to Section 2.13(c) shall be applied solely to the Tranche B Term Loans. Partial prepayments of the Term Loans pursuant to this Section 2.13 shall
be applied to the remaining installments thereof in the direct order of maturity. The application of any prepayment of Term Loans pursuant to this Section 2.13 shall be made, first, to ABR Loans and second, to Eurodollar Loans. Each prepayment
of the Loans under this Section 2.13 shall be accompanied by accrued interest to the date of such prepayment on the amount prepaid. 

  
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 (e) Each Lender may elect, by notice to the Administrative Agent at or prior to the time and
in the manner specified by the Administrative Agent, prior to any prepayment of Term Loans required to be made by a Borrower pursuant to Section 2.13(b) or (c), to decline all (but not a portion) of its prepayment (such declined amounts, the
“Declined Proceeds”), which Declined Proceeds may be retained by the Company and used for any purpose permitted (or not prohibited) hereunder, including to increase the Available Amount; provided that, for the avoidance of doubt, no
Lender may reject any prepayment made under Section 2.13(a) above to the extent that such prepayment is made with the proceeds of any Credit Agreement Refinancing Indebtedness incurred to refinance all or a portion of the Term Loans. If any
Lender fails to deliver a notice to the Administrative Agent of its election to decline receipt of its ratable percentage of any mandatory prepayment within the time frame specified by the Administrative Agent, such failure will be deemed to
constitute an acceptance of such Lender’s ratable percentage of the total amount of such mandatory prepayment of the Term Loans. 
 (f)
If the Distribution has not occurred on or prior to the seventh Business Day after the Closing Date, then (i) the Company shall immediately repay the Tranche A Term Loans, Tranche B Term Loans, the Revolving Loans and the Swingline Loans in an
amount equal to the aggregate principal amount thereof and shall immediately pay any accrued interest and fees thereon and shall cash collateralize L/C Obligations in respect of any Letters of Credit (in an amount equal to 101% of the face amount
thereof) and (ii) the Revolving Commitments shall immediately terminate. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, to the extent the Tranche A Term Loans and/or the Tranche B Term Loans are funded
net of any original issue discount or upfront fees, the repayment of the Tranche A Term Loans and/or the Tranche B Term Loans plus any accrued and unpaid interest and fees with respect to the Tranche A Term Loans and/or the Tranche B Term Loans net
of such original issue discount or upfront fees shall constitute payment in full of such Tranche A Term Loans and/or such Tranche B Term Loans. 

(g) If at any time the Total Revolving Extensions of Credit exceed 105% of the Total Revolving Commitments (including as a result of a change
in the Exchange Rate for the purchase of U.S. Dollars with a Foreign Currency), the Borrowers shall, within one Business Day of notice thereof from the Administrative Agent, prepay the Revolving Loans in an amount equal to the amount of such excess
or, to the extent the principal amount of Revolving Loans outstanding is less than the amount of such excess, cash collateralize L/C Obligations in respect of any Letters of Credit (in an amount equal to 101% of the face amount thereof) (or backstop
or provide credit support reasonably acceptable to the applicable Issuing Lender), in each case to the extent necessary to eliminate any such excess. 

(h) Notwithstanding any other provisions of Section 2.13, to the extent any or all of the Net Cash Proceeds from any Asset Sale or
Recovery Event received by a Foreign Subsidiary or Excess Cash Flow attributable to Foreign Subsidiaries are prohibited or delayed by any applicable local law (including financial assistance, corporate benefit restrictions on upstreaming of cash
intra group and the fiduciary and statutory duties of the directors of such Foreign Subsidiary) from being repatriated or passed on to or used for the benefit of the Company or any applicable Domestic Subsidiary (the Company hereby agreeing to cause
the applicable Foreign Subsidiary to promptly take all actions reasonably required by the applicable local law to permit such repatriation as long as such repatriation does not create a material adverse tax consequence) or if the Company has
determined in good faith that repatriation of any such amount to the Company or any applicable Domestic Subsidiary would have material adverse tax consequences with respect to such amount, the portion of such Net Cash Proceeds or Excess Cash Flow so
affected will not be required to be applied to prepay Term Loans at the times provided in this Section 2.13 but may be retained by the applicable Foreign Subsidiary for so long, but only so long, as the

  
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applicable local law will not permit repatriation or the passing on to or otherwise using for the benefit of the Company or the applicable Domestic Subsidiary, or the Company believes in good
faith that such material adverse tax consequence would result, and once such repatriation of any of such affected Net Cash Proceeds or Excess Cash Flow is permitted under the applicable local law or the Company determines in good faith that such
repatriation would no longer would have such material adverse tax consequences, such repatriation will be promptly effected and such repatriated Net Cash Proceeds or Excess Cash Flow will be promptly (and in any event not later than five Business
Days after such repatriation) applied (net of additional taxes payable or reasonably estimated to be payable as a result thereof) to the prepayment of the applicable Term Loans as otherwise required pursuant to this Section 2.13; provided that,
notwithstanding the foregoing, the Company and the applicable Foreign Subsidiary shall have no obligation to repatriate any Net Cash Proceeds (or take any further action with respect thereto) from and after the date that is twelve months after the
receipt of such Net Cash Proceeds or the date such Excess Cash Flow is required to be repaid by the Company pursuant to Section 2.13(c). 

2.14. Conversion and Continuation Options. (a) Any Borrower may elect from time to time to convert Eurodollar Loans denominated in
U.S. Dollars to ABR Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election, provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period
with respect thereto. Any Borrower may elect from time to time to convert ABR Loans to Eurodollar Loans denominated in U.S. Dollars by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election
(which notice shall specify the length of the initial Interest Period therefor); provided that no ABR Loan under a particular Facility may be converted into a Eurodollar Loan denominated in U.S. Dollars when any Event of Default has occurred and is
continuing and the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant
Lender thereof. 
 (b) Any Borrower may elect from time to time to convert CDOR Loans to Canadian Prime Rate Loans by giving the
Administrative Agent at least two Business Days’ prior irrevocable notice of such election, provided that any such conversion of CDOR Loans may only be made on the last day of an Interest Period with respect thereto. Any Borrower may elect from
time to time to convert Canadian Prime Rate Loans to CDOR Loans by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election (which notice shall specify the length of the initial Interest Period
therefor); provided that no Canadian Prime Rate Loan under a particular Facility may be converted into a CDOR Loan when any Event of Default has occurred and is continuing and the Majority Facility Lenders in respect of such Facility have determined
in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. 

(c) Any Eurodollar Loan or CDOR Loan shall be continued as such upon the expiration of the then current Interest Period with respect thereto
unless the applicable Borrower gives notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.1, of a different length of the next Interest Period to be
applicable to such Loans or elects to convert such Loan to an ABR Loan or Canadian Prime Rate Loan, as applicable; provided that no Eurodollar Loan under a particular Facility or CDOR Loan under a particular Facility may be continued as such when
any Event of Default has occurred and is continuing and the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations; and provided, further, that if such continuation is
not permitted pursuant to the preceding proviso such Eurodollar Loans denominated in U.S. Dollars or Canadian Dollars, respectively, shall be automatically converted to ABR Loans or Canadian Prime Rate Loans, respectively, on the last day of such
then expiring Interest Period and any Eurodollar Loans denominated in any other currency shall be continued as such, with an Interest Period of one month’s duration. Upon receipt of any such notice the Administrative Agent shall promptly notify
each relevant Lender thereof. 

  
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 (d) It is understood and agreed that (i) only a Borrowing denominated in U.S. Dollars
may be made as, or converted to, an ABR Loan, (ii) only a Borrowing denominated in Canadian Dollars may be made as, or converted to, a Canadian Prime Rate Loan or a CDOR Loan (iii) only a Borrowing denominated in U.S. Dollars or a Foreign
Currency other than Canadian Dollars may be made as, or converted to, or continued as, a Loan bearing interest at the Eurodollar Rate, and (iv) only a Borrowing denominated in Euros may be converted to a Loan bearing interest at the Overnight
LIBOR Loan in the circumstances described in Section 2.18 or Section 2.20. 
 2.15. Limitations on Eurodollar Tranches.
Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions and continuations of Eurodollar Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections
so that, after giving effect thereto, the aggregate principal amount of the Eurodollar Loans (based on, in the case of Foreign Currency Revolving Loans, the Dollar Equivalent of such Foreign Currency Revolving Loans) comprising each Eurodollar
Tranche shall be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof. 
 2.16. Interest Rates and Payment Dates.
(a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the applicable Eurodollar Rate determined for such day for the applicable currency plus the Applicable
Margin. 
 (b) Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin. 

(c) Each Canadian Prime Rate Loan shall bear interest at a rate per annum equal to the Canadian Prime Rate plus the Applicable Margin. 

(d) Each Overnight LIBOR Loan shall bear interest at a rate per annum equal to the Overnight LIBOR Rate plus the Applicable Margin. 

(e) Each CDOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the CDO Rate
determined for such day plus the Applicable Margin. 
 (f) (i) If all or a portion of the principal amount of or interest on any Loan or
Reimbursement Obligation shall not be paid when due and payable (whether at the stated maturity, by acceleration or otherwise and after giving effect to any grace or cure periods applicable thereto), such overdue amounts shall bear interest at a
rate per annum equal to (x) in the case of overdue amounts in respect of any Loan, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of overdue amounts in
respect of any Reimbursement Obligation, the rate applicable to ABR Loans under the Revolving Facility plus 2%, and (ii) if all or a portion of any interest, commitment fee or other amount payable hereunder shall not be paid when due and
payable (whether at the stated maturity, by acceleration or otherwise and after giving effect to any grace or cure periods applicable thereto), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR
Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under the Revolving Facility plus 2%) (unless such overdue amount is denominated
in a Foreign Currency, in which case such overdue amount shall bear interest of a rate per annum equal to the highest rate then applicable under this Agreement to Foreign Currency Revolving Loans in such currency plus 2%), in each case, with respect
to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment). 

  
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 (g) Interest shall be payable in arrears on each Interest Payment Date; provided that
interest accruing pursuant to paragraph (d) of this Section shall be payable from time to time on demand. 
 (h) By entering into this
Agreement, the parties hereto have assumed that the interest payable at the rates specified in this Agreement is not and will not be subject to any deduction of Swiss Withholding Tax. Nevertheless, if a deduction of Swiss Withholding Tax is required
by law to be made by a Swiss Borrower in respect of any interest payable under this Agreement and should it be unlawful for a Swiss Borrower to comply with Section 2.21(a) for any reason (where this would otherwise be required by the terms of
Section 2.21 and taking into account the exclusions in Section 2.21), and if the gross-up in accordance with Section 2.21 is effectively not paid, 

(i) the applicable interest rate in relation to that interest payment shall be (A) the interest rate which would have
applied to that interest payment as provided for otherwise in this Section 2.16 in the absence of this Section 2.16(h)), divided by (B) 1 minus the rate at which the relevant deduction of Swiss Withholding Tax is required to be made (where
the rate at which the relevant deduction of Swiss Withholding Tax is required to be made is for this purpose expressed as a fraction of 1); 

(ii) (A) the Swiss Borrower shall be obliged to pay the relevant interest at the adjusted rate in accordance with this
Section 2.16(h), and (B) the Swiss Borrower shall make the deduction of Swiss Withholding Tax (within the time allowed and in the minimum amount required by law) on the interest so recalculated; and 

(iii) all references to a rate of interest under this Agreement shall be construed accordingly. 

To the extent that interest payable by a Swiss Borrower under this Agreement becomes subject to a deduction of Swiss Withholding Tax, the Lenders and such
Swiss Borrower shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary for such Swiss Borrower to obtain
authorization to make interest payments without them being subject to such deduction of Swiss Withholding Tax or to reduce the applicable withholding tax rate. If a Swiss Borrower pays the interest recalculated under this Section 2.16(h), that
Swiss Borrower shall cooperate with each relevant Lender to enable that Lender to receive a full or partial refund of the Swiss Withholding Tax under an applicable double taxation treaty. If and to the extent a Lender receives a refund of Swiss
Withholding Tax, it shall forward such amount, after deduction of costs, to the corresponding Swiss Borrower. 
 This Section 2.16(h)
shall not apply and no interest shall be recalculated pursuant to this Section 2.16(h) if a deduction of Swiss Withholding Tax is due as a result of any non-compliance by a Lender with the provisions of
clause (iv) of Section 10.6(c)) or the Lender (i) making a misrepresentation as to its status according to Section 2.21(k) as a Swiss Qualifying Bank or as (only) one Swiss Permitted
Non-Qualifying Bank or (ii) ceasing to be a Swiss Qualifying Bank Creditor or as (only) one Swiss Permitted Non-Qualifying Bank after the time it acceded to this
Agreement. 

  
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 2.17. Computation of Interest and Fees. (a) Interest and fees payable pursuant
hereto shall be calculated on the basis of a 360-day year for the actual days elapsed, except that, with respect to ABR Loans or Canadian Prime Rate Loans the rate of interest on which is calculated on the basis of the Prime Rate or the Canadian
Prime Rate, the interest thereon shall be calculated on the basis of a 365- (or 366-, as the case may be) day year for the actual days elapsed and that interest on any Foreign Currency Revolving Loan denominated in Pounds Sterling or Canadian
Dollars shall be calculated on the basis of a 365-day year for actual days elapsed. The Administrative Agent shall as soon as practicable notify the Company and the relevant Lenders of each determination of a Eurodollar Rate, CDO Rate or Overnight
LIBOR Rate. Any change in the interest rate on a Loan resulting from a change in the ABR or the Canadian Prime Rate shall become effective as of the opening of business on the day on which such change becomes effective. The Administrative Agent
shall as soon as practicable notify the Company and the relevant Lenders of the effective date and the amount of each such change in interest rate. 

(b) Each determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive and
binding on the Borrowers and the Lenders absent manifest error. The Administrative Agent shall, at the request of the Company, deliver to the Company a statement showing the quotations used by the Administrative Agent in determining any interest
rate pursuant to Section 2.17(a). 
 2.18. Inability to Determine Interest Rate. (a) If prior to the first day of any
Interest Period for any Eurodollar Loan or CDOR Loan or the date of any Borrowing of any Overnight LIBOR Loan: 
 (i) the
Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrowers absent manifest error) that, by reason of circumstances affecting the relevant interbank market, adequate and reasonable means do not
exist for ascertaining the applicable Eurodollar Rate, Overnight LIBOR Rate or CDO Rate, as applicable (including because the applicable Screen Rate is not available or published on a current basis) for Loans in the applicable currency during such
Interest Period or for such Borrowing, or 
 (ii) the Administrative Agent shall have received notice from the Majority
Facility Lenders in respect of the relevant Facility that the applicable Eurodollar Rate, Overnight LIBOR Rate or CDO Rate determined or to be determined for such Interest Period or for such Borrowing will not adequately and fairly reflect the cost
to such Lenders (as conclusively certified by such Lenders) of making or maintaining their affected Loans in the applicable currency during such Interest Period or for such Borrowing, or 

(iii) the Administrative Agent determines (which determination shall be conclusive and binding upon the Borrowers absent
manifest error) that deposits in the applicable currency are not generally available, or cannot be obtained by the Lenders, in the applicable market (any Foreign Currency affected by the circumstances described in Section 2.18(a)(i), (ii) or
(iii) is referred to as an “Affected Foreign Currency”), 
 in each case that the circumstances in clause (b) do not apply, the
Administrative Agent shall give prompt written or telephonic notice thereof to the Company and the relevant Lenders as soon as practicable thereafter. If such notice is given (x) pursuant to clause (a) or (b) of this Section 2.18 in
respect of Eurodollar Loans denominated in U.S. Dollars, (1) any ABR Loans under the relevant Facility that were to have been converted on the first day of such Interest Period to Eurodollar Loans with an Interest Period having the duration of
such Interest Period shall be continued as ABR Loans and (2) any Eurodollar Loans requested to be made under the relevant Facility with an Interest Period having the duration of such Interest Period shall be made as Eurodollar Loans having an
Interest Period with the shortest available duration described in the definition of “Interest Period” or, in the absence of any such available duration, as ABR Loans and (y) in respect of any Foreign Currency Revolving Loans which are
Eurodollar Loans, Overnight LIBOR Rate Loans or CDOR Loans, then with respect to any Affected Foreign Currency, (1) any Canadian Prime Rate Loans under the relevant Facility that were to have been converted on the first

  
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day of such Interest Period to CDOR Loans with an Interest Period having the duration of such Interest Period shall be continued as Canadian Prime Rate Loans and (2) any CDOR Loans or
Eurodollar Loans requested to be made under the relevant Facility with an Interest Period having the duration of such Interest Period shall be made as CDOR Loans or Eurodollar Loans having an Interest Period with the shortest available duration
described in the definition of “Interest Period” or, in the absence of any such available duration and in the case of Overnight LIBOR Rate Loans, (A) for CDOR Loans, as Canadian Prime Rate Loans, (B) for Eurodollar Loans
denominated in Euro, as Overnight LIBOR Loans (so long as the circumstances set forth in clauses (i), (ii) or (iii) above do not apply to Overnight LIBOR Loans), (C) for Eurodollar Loans denominated in Pounds Sterling, Yen, Swiss Francs or any
additional Foreign Currency (or, if the circumstances set forth in clause (i), (ii) or (iii) above apply to Overnight LIBOR Loans, Euro), the Company, Administrative Agent and Revolving Lenders shall establish a mutually acceptable alternative
rate (which in no event shall be less than zero), or at the Company’s option, convert such Loans into U.S. Dollars and then be made as ABR Loans on the last day of the then-current Interest Period with respect thereto; provided that, in the
case of this clause (C), if a mutually acceptable alternative rate is not established and such Loans are not converted into U.S. Dollars prior to the first day of the applicable Interest Period, such Loans shall be converted to U.S. Dollars and be
made as ABR Loans on the first day of the applicable Interest Period. Until such notice has been withdrawn by the Administrative Agent (and the Administrative Agent agrees to promptly withdraw such notice after it becomes aware (by receipt of notice
or otherwise) that the circumstances described in clause (i), (ii) or (iii) above cease to exist), no further Eurodollar Loans denominated in U.S. Dollars or Foreign Currency Revolving Loans which are Eurodollar Loans, Overnight LIBOR Rate
Loans or CDOR Loans in an Affected Foreign Currency shall be made or continued as such, nor shall the relevant Borrower have the right to convert ABR Loans or Canadian Prime Rate Loans to Eurodollar Loans denominated in U.S. Dollars or CDOR Loans,
as applicable. 
 (b) If at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error) that
(i) the circumstances set forth in clause (a)(i) of this Section 2.18 have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause (a)(i) of this Section 2.18 have not arisen but
either (w) the supervisor for the administrator of the applicable Screen Rate has made a public statement that the administrator of the applicable Screen Rate is insolvent (and there is no successor administrator that will continue publication
of the applicable Screen Rate), (x) the administrator of the applicable Screen Rate has made a public statement identifying a specific date after which the applicable Screen Rate will permanently or indefinitely cease to be published by it (and
there is no successor administrator that will continue publication of the applicable Screen Rate), (y) the supervisor for the administrator of the applicable Screen Rate has made a public statement identifying a specific date after which the
applicable Screen Rate will permanently or indefinitely cease to be published or (z) the supervisor for the administrator of the applicable Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a
public statement identifying a specific date after which the applicable Screen Rate may no longer be used for determining interest rates for loans denominated in the applicable currency, then the Administrative Agent and the Company shall endeavor
in good faith to establish an alternate rate of interest to the applicable Screen Rate for such currency that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans in the applicable
currency in the United States at such time (including any mathematical or other adjustments to such alternate rate of interest (if any) incorporated therein), and the Administrative Agent and the Company shall enter into an amendment to this
Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable (but for the avoidance of doubt, such related changes shall not include a reduction of the Applicable Margin); provided that,
if such alternate rate of interest as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. Notwithstanding anything to the contrary in Section 10.1, any such amendment shall become
effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five 

  
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Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Required Lenders stating that such Required Lenders object to such
amendment. Until an alternate rate of interest shall be determined in accordance with this clause (b) (but, in the case of the circumstances described in clause (ii) of the first sentence of this Section 2.18(b), only to the extent the
applicable Screen Rate for the applicable currency and such Interest Period is not available or published at such time on a current basis), clauses (x) and (y) of the last paragraph of Section 2.18(a), as relevant, shall be applicable (it
being understood that Eurodollar Loans denominated in Euro shall bear interest as Overnight LIBOR Loans only so long as the circumstances set forth in clauses (i) and (ii) above do not apply to Overnight LIBOR Loans) and (1) if the
applicable affected currency is U.S. Dollars, no further Eurodollar Loans denominated in U.S. Dollars shall be made nor shall the applicable Borrower have the right to convert ABR Loans to Eurodollar Loans, (2) if the applicable affected
currency is Canadian Dollars, no further CDOR shall be made nor shall the applicable Borrower have the right to convert Canadian Prime Rate Loans to CDOR Loans and (3) if the applicable affected currency is any currency other than U.S. Dollars
and Canadian Dollars, no further Loans in such currency shall be made. 
 2.19. Pro Rata Treatment and Payments. (a) Each
borrowing by a Borrower from the Revolving Lenders hereunder, each payment by a Borrower on account of any commitment fee and any reduction of the Revolving Commitments shall be made pro rata according to the respective Revolving Percentages of the
Revolving Lenders. 
 (b) Each payment (including each prepayment) by a Borrower on account of principal of and interest on the Revolving
Loans shall be made pro rata according to the respective outstanding principal amounts of the Revolving Loans then held by the Revolving Lenders, except as otherwise provided in Section 2.28. 

(c) Each payment (including each prepayment) by the Company on account of principal of and interest and premium, if any, on the Tranche A Term
Loans shall be made pro rata according to the respective outstanding principal amounts of the Tranche A Term Loans then held by the Tranche A Term Lenders. The amount of each principal prepayment of the Tranche A Term Loans shall be applied to
reduce the then remaining installments of the Tranche A Term Loans in the direct order of maturity. Amounts prepaid on account of the Tranche A Term Loans may not be reborrowed. 

(d) Each payment (including each prepayment) by the Company on account of principal of and interest and premium, if any, on the Tranche B Term
Loans shall be made pro rata according to the respective outstanding principal amounts of the Tranche B Term Loans then held by the Tranche B Term Lenders. The amount of each principal prepayment of the Tranche B Term Loans shall be applied to
reduce the then remaining installments of the Tranche B Term Loans in the direct order of maturity. Amounts prepaid on account of the Tranche B Term Loans may not be reborrowed. 

(e) All payments (including prepayments) to be made by a Borrower hereunder, whether on account of principal, interest, fees or otherwise,
shall be made without setoff or counterclaim and shall be made prior to 2:00 p.m., New York City time, on the due date thereof to the Administrative Agent, for the account of the Lenders, at its Domestic Funding Office, in U.S. Dollars and in
immediately available funds (or, in the case of principal or interest relating to Foreign Currency Revolving Loans, prior to 2:00 p.m. Local Time, on the due date thereof to the Administrative Agent, for the account of the Lenders, at its Funding
Office, in the relevant Foreign Currency and in immediately available funds). The Administrative Agent shall distribute such payments to the Lenders promptly upon receipt in like funds as received. If any payment hereunder (other than payments on
the Eurodollar Loans or CDOR Loans) becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day. If any payment on a Eurodollar Loan or CDOR Loans becomes due and payable on a day
other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the
immediately preceding Business Day. In the case of any extension of any payment of principal pursuant to the preceding two sentences, interest thereon shall be payable at the then applicable rate during such extension. 

  
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 (f) Unless the Administrative Agent shall have been notified in writing by any Lender prior
to a borrowing that such Lender will not make the amount that would constitute its share of such borrowing available to the Administrative Agent, the Administrative Agent may assume that such Lender is making such amount available to the
Administrative Agent, and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. If such amount is not made available to the Administrative Agent by the required time on the
Borrowing Date therefor, such Lender shall pay to the Administrative Agent, on demand, (i) in the case of amounts denominated in U.S. Dollars, such amount with interest thereon at a rate equal to the daily average NYFRB Rate or (ii) in the
case of amounts denominated in Foreign Currencies, such amount with interest thereon at a rate determined by the Administrative Agent to be the cost to it of funding such amount, in each case for the period until such Lender makes such amount
immediately available to the Administrative Agent. A certificate of the Administrative Agent submitted to any Lender with respect to any amounts owing under this paragraph shall be conclusive absent manifest error. If such Lender’s share of
such borrowing is not made available to the Administrative Agent by such Lender within three Business Days of such Borrowing Date, the Administrative Agent shall also be entitled to recover (i) in the case of amounts denominated in U.S.
Dollars, such amount with interest thereon at the rate per annum equal to the daily average Federal Funds Effective Rate, on demand, from the applicable Borrower or (ii) in the case of amounts denominated in Foreign Currencies, such amount with
interest thereon at a rate determined by the Administrative Agent to be the cost to it of funding such amount, on demand, from the applicable Borrower. 

(g) Unless the Administrative Agent shall have been notified in writing by the applicable Borrower prior to the date of any payment being made
hereunder that the applicable Borrower will not make such payment to the Administrative Agent, the Administrative Agent may assume that the applicable Borrower is making such payment, and the Administrative Agent may, but shall not be required to,
in reliance upon such assumption, make available to the Lenders their respective pro rata shares of a corresponding amount. If such payment is not made to the Administrative Agent by the applicable Borrower within three Business Days of such
required date, the Administrative Agent shall be entitled to recover, on demand, from each Lender to which any amount which was made available pursuant to the preceding sentence, (i) in the case of amounts denominated in U.S. Dollars, such
amount with interest thereon at the rate per annum equal to the daily average Federal Funds Effective Rate and (ii) in the case of amounts denominated in Foreign Currencies, such amount with interest thereon at a rate per annum determined by
the Administrative Agent to be the cost to it of funding such amount. Nothing herein shall be deemed to limit the rights of the Administrative Agent or any Lender against any Borrower. 

(h) Nothing in this Section 2.19 creates any obligation for (i) any Foreign Subsidiary Borrower to repay any Obligation of any
Domestic Borrower or (ii) any Domestic Borrower to repay any Obligation of any Foreign Subsidiary Borrower. 

  
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 2.20. Requirements of Law. (a) If the adoption of or any change in any
Requirement of Law or in the interpretation or application thereof or compliance by any Credit Party with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority made subsequent to the
date hereof: 
 (i) shall subject such Credit Party to any Tax (except for
Non-Excluded Taxes and Taxes described in clauses (i) through (iv) of the definition of Non-Excluded Taxes) on its loans, loan principal, letters of credit,
commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; 
 (ii)
shall impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement (including any insurance charge or other assessment, but other than any reserve requirement contemplated by Section 2.20(e)) against
assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of such Credit Party or any Letter of Credit or participation therein; or 

(iii) shall impose on such Credit Party or the London interbank or other relevant market any other condition, cost or expense
affecting this Agreement or the Loans made by such Credit Party or any Letter of Credit or participation therein (other than Taxes); 
 and the result of
any of the foregoing is to increase the cost to such Credit Party, by an amount that such Credit Party deems to be material, of making, converting into, continuing or maintaining Loans or issuing or participating in Letters of Credit or to reduce
any amount receivable hereunder in respect thereof, then, in any such case, the Borrowers shall pay such Credit Party, following thirty (30) days’ prior written demand and delivery of the calculation of such amount, any additional amounts
necessary to compensate such Credit Party for such increased cost or reduced amount receivable. If any Credit Party becomes entitled to claim any additional amounts pursuant to this paragraph, it shall promptly notify the Company (with a copy to the
Administrative Agent) of the event by reason of which it has become so entitled together with a calculation of such amount claimed; provided that failure or delay on the part of any Credit Party to demand compensation pursuant to this
Section 2.20(a) shall not constitute a waiver of such Credit Party’s right to demand such compensation; provided further that the Borrowers shall not be required to compensate a Lender pursuant to this paragraph for any amounts incurred
more than 90 days prior to the date that such Lender notifies the Company of such Lender’s intention to claim compensation therefor; and provided further that, if the circumstances giving rise to such claim have a retroactive effect, then such 90-day period shall be extended to include the period of such retroactive effect; provided further that in respect of clause (a)(i), the Company shall be required to make such payment only if the respective Lender
certifies that it generally requires similarly situated borrowers in comparable syndicated credit facilities to which it is a lender to make similar payments. 

(b) If any Credit Party shall have determined that the adoption of or any change in any Requirement of Law regarding capital or liquidity
requirements or in the interpretation or application thereof or compliance by such Credit Party, or any corporation controlling such Credit Party with any request or directive regarding capital or liquidity requirements (whether or not having the
force of law) from any Governmental Authority made subsequent to the Closing Date shall have the effect of reducing the rate of return on such Credit Party’s or such corporation’s capital as a consequence of its obligations hereunder or
under or in respect of any Letter of Credit to a level below that which such Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Credit Party’s or such corporation’s
policies with respect to capital adequacy or liquidity) by an amount deemed by such Lender to be material, then from time to time, after submission by such Credit Party to the Company (with a copy to the Administrative Agent) of a written request
therefor, the Borrowers shall pay to such Credit Party such additional amount or amounts as will compensate such Credit Party for such reduction; provided that the Borrowers shall not be required to compensate a Lender pursuant to this paragraph for
any amounts incurred more than 90 days prior to the date that such Lender notifies the Company of such Lender’s intention to claim compensation therefor; provided further that, if the circumstances giving rise to such claim have a retroactive
effect, then such 90-day period shall be extended to include the period of such retroactive effect; and provided further that the Company shall be required to make such payment only if the respective Lender
certifies that it generally requires similarly situated borrowers in comparable syndicated credit facilities to which it is a lender to make similar payments. 

  
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 (c) Notwithstanding anything herein to the contrary (x) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the
Basel Committee on Banking Supervision (or any successor or similar authority), or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall be deemed to be a change in a Requirement of Law, regardless of the
date enacted, adopted or issued. 
 (d) A certificate as to any additional amounts payable pursuant to this Section submitted by any Credit
Party to the Company (with a copy to the Administrative Agent) shall be conclusive absent manifest error. The obligations of the Borrowers pursuant to this Section shall survive the termination of this Agreement and the payment of the Loans and all
other amounts payable hereunder. 
 (e) Eurocurrency Liabilities. Each Borrower shall pay to each Lender, without duplication, (i) as
long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the
unpaid principal amount of each Eurodollar Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), and
(ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financing regulatory authority imposed in respect of the maintenance of the Commitments or the
funding of any Eurodollar Loans of such Borrower, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by
such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), which in each case shall be due and payable on each date on which interest is payable on such Loan; provided the Company shall
have received at least 30 days’ prior written notice (with a copy to the Administrative Agent) of such additional interest or cost from such Lender; provided further that the Company shall be required to make such payment only if the respective
Lender certifies that it generally requires similarly situated borrowers in comparable syndicated credit facilities to which it is a lender to make similar payments. 

(f) Notwithstanding any other provision of this Agreement, if, after the date hereof, (i)(A) the adoption of any law, rule or regulation after
the date of this Agreement, (B) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (C) compliance by any Lender with any request,
guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement, shall make it unlawful for any such Lender to make or maintain any Foreign Currency Revolving Loan or to
give effect to its obligations as contemplated hereby with respect to any Foreign Currency Revolving Loan, or (ii) there shall have occurred any change in national or international financial, political or economic conditions (including the
imposition of or any change in exchange controls, but excluding conditions otherwise covered by this Section 2.20) or currency exchange rates which would make it impracticable for the Lenders to make or maintain Foreign Currency Revolving Loans
denominated in the relevant currency to, or for the account of, any Borrower, then, by written notice to the Company and to the Administrative Agent: 

  
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 (i) such Lender or Lenders may declare that Foreign Currency Revolving Loans
(in the affected currency or currencies) will not thereafter (for the duration of such unlawfulness or impracticality) be made by such Lender or Lenders hereunder (or be continued for additional Interest Periods), whereupon any request for a Foreign
Currency Revolving Loan (in the affected currency or currencies) or to continue a Foreign Currency Revolving Loan (in the affected currency or currencies), as the case may be, for an additional Interest Period shall, as to such Lender or Lenders
only, be of no force and effect, unless such declaration shall be subsequently withdrawn; and 
 (ii) such Lender may require
that all outstanding Foreign Currency Revolving Loans (in the affected currency or currencies) whose interest is determined by reference to the applicable Eurodollar Rate or CDO Rate made by it be converted to, in the case of CDOR Loans, as Canadian
Prime Rate Loans, in the case of Eurodollar Loans denominated in Euros, as Overnight LIBOR Loans, or in the case of Eurodollar Loans denominated in Pounds Sterling, Yen, Swiss Francs or any additional Foreign Currency, either another mutually
acceptable alternative rate (which in no event shall be less than zero) or at the Company’s option converted to ABR Loans denominated in U.S. Dollars, as the case may be (unless repaid by the relevant Borrower as described below), in which
event all such Foreign Currency Revolving Loans (in the affected currency or currencies) shall be so converted as of the effective date of such notice as provided in this Section 2.20(f) and at the Exchange Rate on the date of such conversion
or, at the option of the relevant Borrower, repaid on the last day of the then current Interest Period with respect thereto or, if earlier, the date on which the applicable notice becomes effective. 

In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and prepayments of principal that would otherwise
have been applied to repay the converted Foreign Currency Revolving Loans of such Lender shall instead be applied to repay the Loans made by such Lender resulting from such conversion. For purposes of this Section 2.20(f), a notice to the
Company by any Lender shall be effective as to each Foreign Currency Revolving Loan made by such Lender, if lawful, on the last day of the Interest Period, if any, currently applicable to such Foreign Currency Revolving Loan; in all other cases such
notice shall be effective on the date of receipt thereof by the Company. 
 2.21. Taxes. (a) Any and all payments by or on
account of any obligation of the Company under any Loan Document shall be made free and clear of, and without deduction or withholding for or on account of, any Taxes, except as required by applicable law. If any applicable law (as determined in the
good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding
and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is a Non-Excluded Tax or Other Taxes, then the amount payable
by the Company to the Credit Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section) the Credit Party
receives an amount that would have received had no such deduction or withholding been made. Whenever any Non-Excluded Taxes or Other Taxes are payable by the Company to a Governmental Authority pursuant to
this Section 2.21, as soon as practicable thereafter the Company shall send to the Administrative Agent the original or certified copy of a receipt issued by such Governmental Authority evidencing such payment. 

(b) In addition, the Company shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the
Administrative Agent timely reimburse it for the payment of any Other Taxes. 

  
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 (c) The Company shall indemnify each Credit Party, within 10 days after demand therefor, for
the full amount of any Non-Excluded Taxes or Other Taxes (including Non-Excluded Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under
this Section) payable or paid by such Credit Party or required to be withheld or deducted from a payment to such Credit Party and any reasonable expenses arising therefrom or with respect thereto, whether or not such
Non-Excluded Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided, however, that the Company shall not be obligated to indemnify such Credit Party
pursuant to this Section 2.21 in respect of penalties, interest and other liabilities are attributable to the bad faith, gross negligence or willful misconduct of such Credit Party. After a Credit Party learns of the imposition of Non-Excluded Taxes or Other Taxes, such Credit Party will act in good faith to promptly notify the Company of its obligations thereunder. A certificate as to the amount of such payment or liability delivered to the
applicable Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

(d) Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for any Taxes (i) attributable
to such Lender (but only to the extent that the Company has not already indemnified the Administrative Agent for such Non-Excluded Taxes or Other Taxes and without limiting the obligation of such Borrower to
do so) or (ii) attributable to such Lender’s failure to comply with the provisions of Section 10.6(b) relating to the maintenance of a Participant Register, in either case, that are payable or paid by the Administrative Agent in
connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount
of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such
Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (d). 

(e) If the Administrative Agent or any Lender is entitled to an exemption from or reduction of withholding Tax with respect to payments made
under any Loan Document, such Administrative Agent or Lender shall deliver to the Company and the Administrative Agent at the time or times prescribed by applicable law or reasonably requested by the Company or the Administrative Agent, such
properly completed and executed documentation prescribed by applicable law or reasonably requested by the Company or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In
addition, any Lender, if reasonably requested by the Company or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company or the Administrative Agent as will enable the
Company or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution
and submission of such documentation (other than such documentation set forth in Section 2.21(f)) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any
material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 
 (f) Without limiting
the generality of the foregoing, 
 (i) Each Lender (or Transferee) that is a “United States person” as
defined in Section 7701(a)(30) of the Code (a “U.S. Person”) shall deliver to the Company and the Administrative Agent, on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time
thereafter upon the reasonable request of the Company or the Administrative Agent), two properly completed and duly signed copies of U.S. Internal Revenue Service Form W-9 (or any successor form) certifying
that such Lender is exempt from U.S. federal backup withholding tax. 

  
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 (ii) Each Lender (or Transferee) that is not a U.S. Person (a “Non-U.S. Lender”) shall, to the extent it is legally entitled to do so, deliver to the Company and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent.): 
 (A) in the
case of a Non-U.S. Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, two properly completed and
duly signed copies of IRS Form W- 8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal
withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, two completed and duly signed copies of IRS Form
W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the
“business profits” or “other income” article of such tax treaty; 
 (B) in case of a Non-U.S. Lender claiming that its extension of credit will generate U.S. effectively connected income, two properly completed and duly signed copies of IRS Form W-8ECI; 

(C) in the case of a Non-U.S. Lender claiming the benefits of the exemption for
portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit F to the effect that such Non-U.S. Lender is not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Company within the meaning of Section 871(h)(3)(B) of the Code, or a CFC related to the Company as described in Section 881(c)(3)(C) of the Code (a
“U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E; or 

(D) to the extent a Non-U.S. Lender is not the beneficial owner, executed copies of IRS
Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit F, IRS Form W-9, and/or other certification documents from each beneficial owner, as
applicable; provided that if the Non-U.S. Lender is a partnership and one or more direct or indirect partners of such Non-U.S. Lender are claiming the portfolio interest
exemption, such Non-U.S. Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit F on behalf of each such direct and indirect partner. 

(iii) Any Non-U.S. Lender shall, to the extent it is legally entitled to do so, deliver
to the Company and the Administrative Agent on or about the date on which such Non-U.S. Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company
or the Administrative Agent), two completed and duly signed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary
documentation as may be prescribed by applicable law to permit the Company or the Administrative Agent to determine the withholding or deduction required to be made; 

  
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 (iv) If a payment made to a Lender under any Loan Document would be subject
to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall
deliver to the Company and the Administrative Agent, at the time or times prescribed by law and at such time or times reasonably requested by the Company or the Administrative Agent, such documentation prescribed by applicable law (including as
prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Company or the Administrative Agent as may be necessary for the Company and the Administrative Agent to comply with their
obligations under FATCA, to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount, if any, to deduct and withhold from such payment; and 

(v) The Administrative Agent shall deliver to the Company two executed copies of whichever of the following is applicable: 

(A) if the Administrative Agent is a U.S. Person, IRS Form W-9 certifying to such
Administrative Agent’s exemption from U.S. federal backup withholding; or 
 (B) if the Administrative Agent is not a
U.S. Person, (x) IRS Form W-8ECI with respect to payments received for its own account; and (y) IRS Form W-8IMY with respect to any amounts payable to the
Administrative Agent for the accounts of others, clarifying that it is a U.S. branch of a foreign bank or insurance company described in Regulations section 1.1441-1(b)(2)(iv)(A) that is a “participating
foreign financial institution” or PFFI (including a reporting Model 2 FFI), registered deemed-compliant FFI (including a reporting Model 1 FFI), or “non-financial foreign entity” that is using
this form as evidence of its agreement with the withholding agent to be treated as a U.S. Person with respect to any payments associated with this withholding certificate. 

(g) The Administrative Agent and each Lender agree that if any form or certification it previously delivered expires or becomes obsolete or
inaccurate in any respect, it shall update such form or certification or promptly notify the Company and the Administrative Agent in writing of its legal inability to do so. 

(h) If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been
indemnified pursuant to this Section 2.21 (including by the payment of additional amounts pursuant to this Section 2.21), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments
made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without
interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to
this Section 2.21(h) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding
anything to the contrary in this Section 2.21(h), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 2.21(h) the payment of which would place the indemnified party in a
less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and
the indemnification payments or additional amounts with respect to such Tax had never been paid. This Section 2.21(h) shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating
to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

  
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 (i) For purposes of this Section 2.21, the term “Lender” includes any
Issuing Lender and the term “applicable law” includes FATCA. 
 (j) Each party’s obligations under this Section shall
survive the resignation or replacement of the Administrative Agent or any assignment or rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan
Document. 
 (k) Each Lender confirms on the date of this Agreement or on the date it accedes to this Agreement that it is a Swiss Qualifying
Bank or counts as (only) one Swiss Permitted Non-Qualifying Bank, respectively. 
 2.22.
Indemnity. Each Borrower agrees to indemnify each Lender and to hold each Lender harmless from any loss or expense that such Lender may sustain or incur as a consequence of (a) default by such Borrower in making a borrowing of,
conversion into or continuation of Eurodollar Loans or CDOR Loans after such Borrower has given a notice requesting the same in accordance with the provisions of this Agreement, (b) default by such Borrower in making any prepayment of or
conversion from Eurodollar Loans or CDOR Loans after such Borrower has given a notice thereof in accordance with the provisions of this Agreement or (c) the making of a payment of Eurodollar Loans or CDOR Loans (including pursuant to Sections
2.24 or 10.1(c)) on a day that is not the last day of an Interest Period with respect thereto. Such indemnification, which shall be payable within 30 days of written demand therefor, may include an amount equal to the excess, if any, of (i) the
amount of interest that would have accrued on the amount so prepaid or returned, or not so borrowed, converted or continued, for the period from the date of such prepayment or return or of such failure to borrow, convert or continue to the last day
of such Interest Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest for such Loans provided for herein
(excluding, however, the Applicable Margin included therein, if any) over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such amount by placing such amount on deposit for a
comparable period with leading banks in the interbank eurodollar market or other applicable interbank market. A certificate as to any amounts payable pursuant to this Section submitted to the Company by any Lender shall be conclusive absent manifest
error. This covenant shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 

2.23. Change of Lending Office. Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Sections 2.20
or 2.21 with respect to such Lender, it will, if requested by the Company, use reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected by such event with the object of
avoiding the consequences of such event; provided, that such designation is made on terms that, in the good faith judgment of such Lender, (i) would eliminate or reduce the amounts payable pursuant to Section 2.20 or Section 2.21, as
the case may be, in the future, (ii) would not subject such Lender to (A) any unreimbursed cost or expense or (B) significant investment of time or effort and (iii) would not otherwise be materially disadvantageous to such
Lender, and provided, further, that nothing in this Section shall affect or postpone any of the obligations of any Borrower or the rights of any Lender pursuant to Section 2.20 or 2.21. The Company hereby agrees to pay all reasonable costs and
expenses incurred by any Lender in connection with any such designation. 

  
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 2.24. Replacement of Lenders. The Company shall be permitted, at its sole expense and
effort, with respect to any Lender that (a) requests reimbursement for amounts owing pursuant to Section 2.20 or Section 2.21, (b) has become a Defaulting Lender or an Objecting Lender hereunder or, pursuant to Section 2.20(f),
is unable to make any particular type of Loans or (c) in connection with any proposed amendment, waiver or consent requiring the consent of “each Lender” or “each Lender directly affected thereby” (or any other Class or
group of Lenders other than the Required Lenders or Required Revolving Lenders) with respect to which Required Lender or Required Revolving Lender consent, as applicable (or the consent of Lenders holding loans or commitments of such Class or
lesser group representing more than 50% of the sum of the total loans and unused commitments of such Class or lesser group at such time) has been obtained, as applicable, is a non-consenting Lender (each
such Lender, a “Non-Consenting Lender”) (1) to replace such Lender, with a replacement financial institution; provided that (i) the replacement financial institution shall purchase, at
par, all Loans and other amounts owing to such replaced Lender on or prior to the date of replacement, (ii) the applicable Borrower shall be liable to such replaced Lender under Section 2.22 for any losses suffered or expenses incurred by
such Lender if any Eurodollar Loan or CDOR Loan owing to such replaced Lender shall be purchased other than on the last day of the Interest Period relating thereto, (iii) the replacement financial institution, if not already a Lender, shall be
reasonably satisfactory to the Administrative Agent to the extent such consent is required pursuant to Section 10.6, (iv) the replaced Lender shall be obligated to make such replacement in accordance with the provisions of Section 10.6
(provided that the applicable Borrower shall be obligated to pay the registration and processing fee referred to therein) or pursuant to other procedures agreed upon by the Company and the Administrative Agent including deemed assignments upon
payment to the replaced Lender of amounts required to be paid to it pursuant to this Section 2.24, (v) until such time as such replacement shall be consummated, the applicable Borrower shall pay all additional amounts (if any) required pursuant
to Section 2.20 or 2.21, as the case may be, and (vi) any such replacement shall not be deemed to be a waiver of any rights that any Borrower, the Administrative Agent or any other Lender shall have against the replaced Lender or
(2) terminate the Commitment of such Lender and (a) in the case of a Lender (other than an Issuing Lender), repay all Obligations of the Borrowers owing to such Lender relating to the applicable Loans, Commitments and participations held
by such Lender as of such termination date, and (b) in the case of an Issuing Lender, repay all Obligations of the Borrowers owing to such Issuing Lender relating to the applicable Loans and participations held by the Issuing Lender as of such
termination date and cancel or backstop on terms satisfactory to such L/C Issuer any Letters of Credit issued by it. No action by or consent of any Lender referred to in this Section 2.24, including any Objecting Lender, Defaulting Lender or Non-Consenting Lender shall be necessary in connection with such assignment, which shall be immediately and automatically effective upon payment of the amounts described in the immediately preceding sentence. 

2.25. Foreign Currency Exchange Rate. (a) No later than 12:00 Noon, London time, on each Calculation Date with respect to a Foreign
Currency, the Administrative Agent shall determine the Exchange Rate as of such Calculation Date with respect to such Foreign Currency; provided that, upon receipt of a borrowing request for Foreign Currency Revolving Loans, the Administrative Agent
shall determine the Exchange Rate with respect to the relevant Foreign Currency on the related Calculation Date (it being acknowledged and agreed that the Administrative Agent shall use such Exchange Rate solely for the purposes of determining
compliance with Section 2.6 with respect to such borrowing request). The Exchange Rates so determined shall become effective on the relevant Calculation Date (a “Reset Date”), shall remain effective until the next succeeding
Reset Date and shall for all purposes of this Agreement (other than Section 2.20(f), 10.21 and any other provision expressly requiring the use of a current Exchange Rate) be the Exchange Rates employed in converting any amounts between U.S.
Dollars and Foreign Currencies. 
 (b) No later than 5:00 p.m., London time, on each Reset Date, the Administrative Agent shall determine the
aggregate amount of the Dollar Equivalents of the principal amounts of the relevant Foreign Currency Revolving Loans then outstanding (after giving effect to any Foreign Currency Revolving Loans to be made or repaid on such date). 

(c) The Administrative Agent shall promptly notify the Company and the Lenders of each determination of an Exchange Rate hereunder. 

  
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 2.26. Extension of the Facilities. (a) The Company may at any time and from time
to time, request that all or a portion of the Term Loans of a given Class (or series or tranche thereof) (each, an “Existing Term Loan Tranche”) be amended to extend the scheduled maturity date(s) with respect to all or a portion of
any principal amount of such Term Loans (any such Term Loans which have been so amended, “Extended Term Loans”) and to provide for other terms applicable thereto consistent with this Section 2.26. In order to establish any
Extended Term Loans, the Company shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders under the applicable Existing Term Loan Tranche) (each, a “Term Loan Extension
Request”) setting forth the proposed terms of the Extended Term Loans to be established, which shall (x) be identical as offered to each Lender under such Existing Term Loan Tranche (including as to the proposed interest rates and fees
payable) and offered pro rata to each Lender under such Existing Term Loan Tranche and (y) be identical to the Term Loans under the Existing Term Loan Tranche from which such Extended Term Loans are to be amended, except that: (i) all or
any of the scheduled amortization payments of principal of the Extended Term Loans may be delayed to later dates than the scheduled amortization payments of principal of the Term Loans of such Existing Term Loan Tranche, to the extent provided in
the applicable Extension Amendment; (ii) the All-in Yield with respect to the Extended Term Loans may be different than the All-in Yield for the Term Loans of such
Existing Term Loan Tranche, in each case, to the extent provided in the applicable Extension Amendment; (iii) the Extension Amendment may provide for other covenants and terms that apply solely to any period after the Latest Maturity Date that
is in effect on the effective date of the Extension Amendment; and (iv) the Extended Term Loans may have prepayment premiums or call protection as may be agreed by the Company and the Lenders thereof; provided that (A) in no event
shall the final maturity date of any Extended Term Loans of a given Term Loan Extension Series at the time of establishment thereof be earlier than the maturity date of the applicable Existing Term Loan Tranche, (B) the Weighted Average Life to
Maturity of any Extended Term Loans of a given Term Loan Extension Series at the time of establishment thereof shall be no shorter than the remaining Weighted Average Life to Maturity of the applicable Existing Term Loan Tranche, (C) all
documentation in respect of such Extension Amendment shall be consistent with the foregoing and (D) any Extended Term Loans may participate on a pro rata basis or less than a pro rata basis (but not greater than a pro rata basis) in any
mandatory repayments or prepayments hereunder, in each case as specified in the respective Term Loan Extension Request. Any Class of Extended Term Loans amended pursuant to any Term Loan Extension Request shall be designated a series (each, a
“Term Loan Extension Series”) of Extended Term Loans for all purposes of this Agreement; provided that any Extended Term Loans amended from an Existing Term Loan Tranche may, to the extent provided in the applicable Extension
Amendment, be designated as an increase in any previously established Term Loan Extension Series with respect to such Existing Term Loan Tranche. Each Term Loan Extension Series of Extended Term Loans incurred under this Section 2.26 shall be
in an aggregate principal amount that is not less than $20,000,000 (or such lesser amount as to which the Administrative Agent may agree). 

(b) The Company may at any time and from time to time, in its sole discretion, request that all or a portion of the Revolving Commitments or
commitments in respect of an Incremental Revolving Facility (“Incremental Revolving Commitments”) of a given Class (or series or tranche thereof) (each, an “Existing Revolver Tranche”) be amended to extend the
maturity date with respect to all or a portion of any principal amount of such Revolving Commitments or Incremental Revolving Commitments (any such Revolving Commitments or Incremental Revolving Commitments which have been so amended,
“Extended Revolving Commitments”) and to provide for other terms consistent with this Section 2.26. In order to establish any Extended Revolving Commitments, the Company shall provide a notice to the Administrative Agent (who
shall provide a copy of such notice to each of the Lenders under the applicable Existing Revolver Tranche) (each, a “Revolver Extension Request” and together with a Term 

  
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Loan Extension Request, an “Extension Request”) setting forth the proposed terms of the Extended Revolving Commitments to be established, which shall (x) be identical as
offered to each Lender under such Existing Revolver Tranche (including as to the proposed interest rates and fees payable) and offered pro rata to each Lender under such Existing Revolver Tranche and (y) be identical to the Revolving
Commitments under the Existing Revolver Tranche from which such Extended Revolving Commitments are to be amended, except that: (i) the maturity date of the Extended Revolving Commitments may be delayed to a later date than the maturity date of
the Revolving Commitments of such Existing Revolver Tranche, to the extent provided in the applicable Extension Amendment; (ii) the All-in Yield with respect to extensions of credit under the Extended
Revolving Commitments (whether in the form of interest rate margin, upfront fees, commitment fees, OID or otherwise) may be different than the All-in Yield for extensions of credit under the Revolving
Commitments of such Existing Revolver Tranche, in each case, to the extent provided in the applicable Extension Amendment; (iii) the Extension Amendment may provide for other covenants and terms that apply solely to any period after the Latest
Maturity Date that is in effect on the effective date of the Extension Amendment; and (iv) all borrowings under the applicable Revolving Commitments (i.e., the Existing Revolver Tranche and the Extended Revolving Commitments of the applicable
Revolver Extension Series) and repayments thereunder shall be made on a pro rata basis (except for (I) payments of interest and fees at different rates on Extended Revolving Commitments (and related outstandings) and (II) repayments
required upon the maturity date of the non-extending Revolving Commitments); provided, further, that all documentation in respect of such Extension Amendment shall be consistent with the foregoing. Any
Extended Revolving Commitments amended pursuant to any Revolver Extension Request shall be designated a series (each, a “Revolver Extension Series” (and together with a Term Loan Extension Series, any “Extension
Series”)) of Extended Revolving Commitments for all purposes of this Agreement; provided that any Extended Revolving Commitments amended from an Existing Revolver Tranche may, to the extent provided in the applicable Extension Amendment, be
designated as an increase in any previously established Revolver Extension Series with respect to such Existing Revolver Tranche. Each Revolver Extension Series of Extended Revolving Commitments incurred under this Section 2.26 shall be in an
aggregate principal amount that is not less than $10,000,000 (or such lesser amount as to which the Administrative Agent may agree). 
 (c)
The Company shall provide the applicable Extension Request at least three (3) Business Days (or such shorter period as may be agreed by the Administrative Agent) prior to the date on which Lenders under the Existing Term Loan Tranche or
Existing Revolver Tranche, as applicable, are requested to respond, and shall agree to such procedures, if any, as may be established by, or acceptable to, the Administrative Agent, in each case acting reasonably to accomplish the purposes of this
Section 2.26. No Lender shall have any obligation to agree to have any of its Term Loans of any Existing Term Loan Tranche amended into Extended Term Loans or any of its Revolving Commitments amended into Extended Revolving Commitments, as
applicable, pursuant to any Extension Request. Any Lender holding a Loan under an Existing Term Loan Tranche (each, an “Extending Term Lender”) wishing to have all or a portion of its Term Loans under the Existing Term Loan Tranche
subject to such Extension Request amended into Extended Term Loans and any Revolving Lender (each, an “Extending Revolving Lender”) wishing to have all or a portion of its Revolving Commitments under the Existing Revolver Tranche
subject to such Extension Request amended into Extended Revolving Commitments, as applicable, shall notify the Administrative Agent (each, an “Extension Election”) on or prior to the date specified in such Extension Request of the
amount of its Term Loans under the Existing Term Loan Tranche or Revolving Commitments under the Existing Revolver Tranche, as applicable, which it has elected to request be amended into Extended Term Loans or Extended Revolving Commitments, as
applicable (subject to any minimum denomination requirements imposed by the Administrative Agent). In the event that the aggregate principal amount of Term Loans under the Existing Term Loan Tranche or Revolving Commitments under the Existing
Revolver Tranche, as applicable, in respect of which applicable Term Lenders or Revolving Lenders, as the case may be, shall have accepted the relevant Extension Request exceeds the amount of Extended Term Loans or Extended Revolving Commitments,

  
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as applicable, requested to be extended pursuant to the Extension Request, Term Loans or Revolving Commitments, as applicable, subject to Extension Elections shall be amended to Extended Term
Loans or Revolving Commitments, as applicable, on a pro rata basis (subject to rounding by the Administrative Agent, which shall be conclusive absent manifest error) based on the aggregate principal amount of Term Loans or Revolving Commitments, as
applicable, included in each such Extension Election. 
 (d) Extended Term Loans and Extended Revolving Commitments shall be established
pursuant to an amendment (each, an “Extension Amendment”) to this Agreement among the Company, the Administrative Agent and each Extending Term Lender or Extending Revolving Lender, as applicable, providing an Extended Term Loan or
Extended Revolving Commitment, as applicable, thereunder, which shall be consistent with the provisions set forth in Sections 2.26(a) or (b)above, respectively (but which shall not require the consent of any other Lender). The effectiveness of any
Extension Amendment shall be subject to the satisfaction on the date thereof of each of the conditions set forth in Section 5.2 and, to the extent reasonably requested by the Administrative Agent, receipt by the Administrative Agent of
reaffirmation agreements and/or such amendments to the Collateral Documents as may be reasonably requested by the Administrative Agent in order to ensure that the Extended Term Loans or Extended Revolving Commitments, as applicable, are provided
with the benefit of the applicable Loan Documents. The Company may, at its election, specify as a condition to consummating any Extension Amendment that a minimum amount (to be determined and specified in the relevant Extension Request in the
Company’s sole discretion and as may be waived by the Company) of Term Loans, Revolving Commitments or Incremental Revolving Commitments (as applicable) of any or all applicable Classes be tendered. The Administrative Agent shall promptly
notify each Lender as to the effectiveness of each Extension Amendment. Each of the parties hereto hereby agrees that this Agreement and the other Loan Documents may be amended pursuant to an Extension Amendment, without the consent of any other
Lenders, to the extent (but only to the extent) necessary to (i) reflect the existence and terms of the Extended Term Loans or Extended Revolving Commitments, as applicable, incurred pursuant thereto, (ii) modify the scheduled repayments
set forth in Section 2.5 with respect to any Existing Term Loan Tranche subject to an Extension Election to reflect a reduction in the principal amount of the Term Loans thereunder in an amount equal to the aggregate principal amount of the
Extended Term Loans amended pursuant to the applicable Extension Election (with such amount to be applied ratably to reduce scheduled repayments of such Term Loans required pursuant to Section 2.5), (iii) modify the prepayments set forth in
Section 2.5 to reflect the existence of the Extended Term Loans and the application of prepayments with respect thereto, (iv) make such other changes to this Agreement and the other Loan Documents consistent with the provisions and intent
of Section 10.1 (without the consent of the Required Lenders called for therein) and (v) effect such other amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the
Administrative Agent and the Company, to effect the provisions of this Section 2.26, and the Required Lenders hereby expressly authorize the Administrative Agent to enter into any such Extension Amendment. 

(e) No extension of Loans pursuant to any Extension Election in accordance with this Section 2.26 shall constitute a voluntary or
mandatory payment or prepayment for purposes of this Agreement. 
 (f) This Section 2.26 shall supersede any provisions in
Section 2.19 or 10.1 to the contrary. 
 2.27. Incremental Loan Extensions. (a) The Company may, at any time, on one or more
occasions pursuant to an Incremental Facility Amendment (i) add one or more new Classes of term facilities and/or increase the principal amount of any Term Loans of any existing Class by requesting new term loan commitments to be added to
such Loans (any such new Class or increase, an “Incremental Term Facility” and any loans made pursuant to an Incremental Term Facility, “Incremental Term Loans”) and/or (ii) add one or more new Classes of
revolving commitments and/or increase the aggregate 

  
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amount of the Revolving Commitments of any existing Class (any such new Class or increase, an “Incremental Revolving Facility” and, together with any Incremental Term
Facility, “Incremental Facilities”, or either or any thereof, an “Incremental Facility”; and the loans thereunder, “Incremental Revolving Loans” and, together with any Incremental Term Loans,
“Incremental Loans”) in an aggregate outstanding principal amount not to exceed the Incremental Cap; provided that: 

(i) no commitments in respect of Incremental Loans (“Incremental Commitment”) in respect of any Incremental
Term Facility may be in an amount that is less than $10,000,000 (or such lesser amount to which the Administrative Agent may reasonably agree), 

(ii) except as separately agreed from time to time between the Company and any Lender, no Lender shall be obligated to provide
any Incremental Commitment, and the determination to provide such commitments shall be within the sole and absolute discretion of such Lender (it being agreed that the Company shall not be obligated to offer the opportunity to any Lender to
participate in any Incremental Facility), 
 (iii) no Incremental Facility or Incremental Loan (nor the creation, provision
or implementation thereof) shall require the approval of any existing Lender other than in its capacity, if any, as a lender providing all or part of such Incremental Facility or Incremental Loan, 

(iv) [reserved]; 

(v) the All-in-Yield applicable to any
Incremental Facility shall be determined by the Company and the lender or lenders providing such Incremental Facility; provided that, in the case of any syndicated U.S. Dollar-denominated Incremental Tranche B Term Facility consisting of a
tranche B term facility (i.e., a term loan facility with a tenor of seven years or longer with nominal amortization) (an “Incremental Tranche B Term Facility”), the
All-In-Yield applicable thereto may not be more than 0.50% higher than the All-in Yield applicable to the Tranche B Term Loans
unless the Applicable Margin (and/or, as provided in the proviso below, the ABR floor or Eurodollar Rate floor) with respect to the Tranche B Term Facility, is adjusted such that the All-in Yield on the
Tranche B Term Facility is not more than 0.50% per annum less than the All-in-Yield with respect to such Incremental Tranche B Term Facility; provided further
that any increase in All-in-Yield applicable to any Tranche B Term Loan due to the application or imposition of an ABR floor or Eurodollar Rate floor on any Incremental
Tranche B Term Facility may, at the election of the Company, be effected through an increase in (or implementation of, as applicable) any ABR floor or Eurodollar Rate floor applicable to such Tranche B Term Loans or an increase in the interest rate
margin applicable to such Tranche B Term Loan, 
 (vi) (a) the final maturity date of any Incremental Tranche B Term Facility
shall be no earlier than the Latest Maturity Date in respect of the Tranche B Term Facility and any other Incremental Tranche B Facility then outstanding) and (b) the final maturity date of any Incremental Term Facility consisting of a tranche
A term facility (i.e., a term loan facility having amortization, tenor and other terms customary for the term loan A market) (an “Incremental Tranche A Term Facility”) shall be no earlier than the Latest Maturity Date in respect of
the Tranche A Term Facility and any other Incremental Tranche A Facility then outstanding; provided, that the foregoing limitation shall not apply to a customary bridge facility which, subject to customary conditions, automatically convert
into long-term debt satisfying the requirements of this clause (vi), 

  
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 (vii) (a) the Weighted Average Life to Maturity of any Incremental Tranche B
Term Facility shall be no shorter than the remaining Weighted Average Life to Maturity of the Tranche B Term Facility and (b) the Weighted Average Life to Maturity of any Incremental Tranche A Term Facility shall be no shorter than the
remaining Weighted Average Life to Maturity of the Tranche A Term Facility; provided, that the foregoing limitation shall not apply to a customary bridge facility which, subject to customary conditions, automatically convert into long-term
debt satisfying the requirements of this clause (vii); provided, further, that the foregoing shall not apply to the extent the Weighted Average Life to Maturity of any Incremental Tranche B Term Facility or Incremental Tranche A Term Facility is
shorter than the Weighted Average Life to Maturity of the Tranche B Term Facility or Tranche A Facility, as applicable, solely to the extent necessary to make such Incremental Tranche B Term Facility or Incremental Tranche A Term Facility, as
applicable, fungible with the Tranche B Term Facility or the Tranche A Term Facility, as applicable, 
 (viii) subject to
clauses (vi) and (vii) above, any Incremental Term Facility may otherwise have an amortization schedule as determined by the Company and the lenders providing such Incremental Term Facility, 

(ix) subject to clause (v) above, to the extent applicable, the fees payable in connection with any Incremental Facility
shall be determined by the Company and the arrangers and/or lenders providing such Incremental Facility, 
 (x) (A) each
Incremental Facility shall rank pari passu (but without regard to the control of remedies) with the initial Term Loans (in the case of any Incremental Term Facility) and pari passu (but without regard to the control of remedies) with the initial
Revolving Loans (in the case of Incremental Revolving Loans), in each case in right of payment and security and (B) no Incremental Facility may be (x) guaranteed by any Subsidiaries other than Subsidiaries that are Guarantors or
(y) secured by Liens on any assets other than the Collateral, 
 (xi) any Incremental Term Facility may provide for the
ability to participate (A) a pro rata basis or non-pro rata basis in any voluntary prepayment of Term Loans, in each case, made pursuant to Section 2.12(a) and (B) on a pro rata or less than pro
rata basis (but not on a greater than pro rata basis, other than in the case of prepayment with proceeds of Indebtedness refinancing such Incremental Term Loans) in any mandatory prepayment of Term Loans required pursuant to Section 2.13(b) or,
in the case of any Incremental Tranche B Term Facility, in any mandatory prepayment of Tranche B Term Loans required pursuant to Section 2.13(c), 

(xii) no Event of Default shall exist immediately prior to or after giving effect to the effectiveness of such Incremental
Facility (except in connection with any Limited Condition Transaction, where solely to the extent required by the Lenders providing such Incremental Facility, no such Event of Default shall exist at the time as elected by the Company pursuant to
Section 1.4(d)), 
 (xiii) after giving effect to such Incremental Facility, the condition set forth in
Section 5.2(a) shall be satisfied (except in connection with any Limited Condition Transaction, where solely to the extent required by the Lenders providing such Incremental Facility, the condition set forth in Section 5.2(a) shall be
satisfied at the time as elected by the Company pursuant to Section 1.4(d)), 

  
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 (xiv) except as otherwise required or permitted in clauses (i) through
(xi) above, all other terms of any Incremental Facility shall be as agreed between the Company and the Lenders providing such Incremental Facility; provided to the extent such terms are not consistent with the terms in respect of the applicable
Facility, they shall be not materially more restrictive (as determined by the Company in good faith), when taken as a whole, than those under such applicable Facility (except for covenants or other provisions (x) applicable only to periods
after the maturity date of such applicable Facility, (y) that are also added for the benefit of each applicable Facility (limited, in the case of any financial maintenance covenant added for the benefit of any Incremental Facility in respect of
the Tranche A Term Facility or the Revolving Facility, to any then-existing Tranche A Term Facility and Revolving Facility that benefits from a financial maintenance covenant) or (z) that are reasonably satisfactory to the Administrative
Agent), 
 (xv) the proceeds of any Incremental Facility may be used for working capital, Capital Expenditures and other
general corporate purposes of the applicable Borrowers and their subsidiaries (including permitted Restricted Payments, Investments, permitted acquisitions, Restricted Debt Payments) and any other purpose not prohibited by the terms of the Loan
Documents, and 
 (xvi) on the date of the making of any Incremental Term Loans that will be added to any Class of then
existing Term Loans, and notwithstanding anything to the contrary set forth in Sections 2.16, such Incremental Term Loans shall be added to (and constitute a part of, be of the same Type as and, at the election of the Company, have the same Interest
Period as) each borrowing of outstanding Term Loans of such Class on a pro rata basis (based on the relative sizes of such borrowings), so that each Term Lender providing such Incremental Term Loans will participate proportionately in each
then-outstanding borrowing of Term Loans of such Class; it being acknowledged that the application of this clause may result in new Incremental Term Loans having Interest Periods (the duration of which may be less than one month) that begin during
an Interest Period then applicable to outstanding Eurodollar Loans of the relevant Class and which end on the last day of such Interest Period. 

(b) Incremental Commitments may be provided by any existing Lender or by any other Assignee (any such other Assignee being called an
“Additional Lender”); provided that the Administrative Agent (and, in the case of any Incremental Revolving Facility, the Swingline Lender and any Issuing Lender) shall have consented (such consent not to be unreasonably
withheld, conditioned or delayed) to the relevant Additional Lender’s provision of Incremental Commitments if such consent would be required under Section 10.6(c) for an assignment of Loans to such Additional Lender. 

(c) Each Lender or Additional Lender providing a portion of any Incremental Commitment shall execute and deliver to the Administrative Agent
and the Company all such documentation (including the relevant Incremental Facility Amendment) as may be reasonably required by the Administrative Agent to evidence and effectuate such Incremental Commitment. On the effective date of such
Incremental Commitment, each Additional Lender shall become a Lender for all purposes in connection with this Agreement. 
 (d) As a
condition precedent to the effectiveness of any Incremental Facility or the making of any Incremental Loans, (i) upon its request, the Administrative Agent shall have received reaffirmation agreements, supplements and/or amendments as it shall
reasonably require, (ii) the Administrative Agent shall have received, from each Additional Lender, an administrative questionnaire in the form provided to such Additional Lender by the Administrative Agent (the “Administrative
Questionnaire”) and such other documents as it shall reasonably require from such Additional Lender and (iii) the Administrative Agent and applicable Additional Lenders shall have received all fees required to be paid in respect of
such Incremental Facility or Incremental Loans. 

  
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 (e) Upon the implementation of any Incremental Revolving Facility pursuant to this
Section 2.27: 
 (i) if such Incremental Revolving Facility establishes Revolving Commitments of the same Class as
any then-existing Class of Revolving Commitments, (i) each Revolving Lender immediately prior to such increase will automatically and without further act be deemed to have assigned to each relevant Lender under such Incremental Revolving
Facility, and each relevant Lender under such Incremental Revolving Facility will automatically and without further act be deemed to have assumed a portion of such Revolving Lender’s participations hereunder in outstanding Letters of Credit and
Swingline Loans such that, after giving effect to each deemed assignment and assumption of participations, all of the Revolving Lenders’ (including each Lender’s under such Incremental Revolving Facility) (A) participations hereunder
in Letters of Credit and (B) participations hereunder in Swingline Loans shall be held on a pro rata basis on the basis of their respective Revolving Commitments (after giving effect to any increase in the Revolving Commitment pursuant to this
Section 2.27) and (ii) the existing Revolving Lenders of the applicable Class shall assign Revolving Loans to certain other Revolving Lenders of such Class (including the Revolving Lenders providing the relevant Incremental Revolving
Facility), and such other Revolving Lenders (including the Revolving Lenders providing the relevant Incremental Revolving Facility) shall purchase such Revolving Loans, in each case to the extent necessary so that all of the Revolving Lenders of
such Class participate in each outstanding borrowing of Revolving Loans pro rata on the basis of their respective Revolving Commitments of such Class (after giving effect to any increase in the Revolving Commitment pursuant to this
Section 2.27); it being understood and agreed that the minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to this clause (i); and

 (ii) if such Incremental Revolving Facility establishes Revolving Commitments of a new Class, (1) the borrowing and
repayment (except for (A) payments of interest and fees at different rates on any Revolving Facility, (B) repayments required upon the maturity date of any Revolving Facility and (C) repayments made in connection with any permanent
repayment and termination of any Revolving Commitments (subject to clause (3) below)) of Incremental Revolving Loans after the effective date of such Incremental Revolving Facility shall be made on a pro rata basis with any
then-existing Revolving Facility, (2) all Swingline Loans and/or Letters of Credit made or issued, as applicable, under such Incremental Revolving Facility shall be participated on a pro rata basis by all Revolving Lenders and (3) any
permanent repayment of Revolving Loans with respect to, and reduction or termination of Revolving Commitments under, any Revolving Facility after the effective date of any Incremental Revolving Facility shall be made on a pro rata basis or less than
pro rata basis with all other Revolving Facilities, except that the applicable Borrowers shall be permitted to permanently repay Revolving Loans and terminate Revolving Commitments of any Revolving Facility on a greater than pro rata basis
(I) as compared to any other Revolving Facilities with a later maturity date than such Revolving Facility or (II) with the proceeds of Indebtedness refinancing such Revolving Facility. 

(f) On the date of effectiveness of any Incremental Revolving Facility, the maximum amount of L/C Exposure and/or Swingline Loans, as
applicable, permitted hereunder shall increase by an amount, if any, agreed upon by the Administrative Agent, the Company and the relevant Issuing Lender and/or the Swingline Lender, as applicable. 

  
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 (g) The Lenders hereby irrevocably authorize the Administrative Agent to enter into any
Incremental Facility Amendment and/or any amendment to any other Loan Document with the Company and/or the applicable Borrowers as may be necessary in order to establish new or any increase in any Classes or
sub-Classes in respect of Loans or commitments pursuant to this Section 2.27 and such technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the
Company in connection with the establishment or increase, as applicable, of such Classes or sub-Classes, in each case on terms consistent with this Section 2.27 (including with respect to the appointment
of a Subsidiary Guarantor as a Borrower in respect of such Incremental Facility). 
 (h) Notwithstanding anything to the contrary in this
Section 2.27 (including Section 2.27(d)) or in any other provision of any Loan Document, if the proceeds of any Incremental Facility are intended to be applied to finance an acquisition or other Investment and the lenders providing such
Incremental Facility so agree, the availability thereof shall be subject to customary “SunGard” or “certain funds” conditionality (including the making and accuracy of customary specified representations in connection with such
acquisition or other Investment). 
 (i) This Section 2.27 shall supersede any provision in Section 2.19 or 10.1 to the contrary.

 2.28. Defaulting Revolving Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Revolving Lender
becomes a Defaulting Lender, then the following provisions shall apply for so long as such Revolving Lender is a Defaulting Lender: 
 (a)
commitment fees shall cease to accrue on the Available Revolving Commitment (if any) of such Defaulting Lender pursuant to Section 2.10(a); 

(b) if there are any Swingline Loans outstanding or Letters of Credit outstanding at the time such Revolving Lender becomes a Defaulting Lender
then: 
 (i) all or any part of such outstanding Swingline Loans or outstanding Letters of Credit shall be reallocated among
the Revolving Lenders that are not Defaulting Lenders in accordance with their respective Revolving Percentages but only to the extent the sum of all outstanding Revolving Extensions of Credit of the Revolving Lenders that are not Defaulting Lenders
does not exceed the total of all Revolving Commitments of the Revolving Lenders that are not Defaulting Lenders (for the avoidance of doubt, no Lender shall be required to make Revolving Extensions of Credit in excess of its Revolving Commitment);

 (ii) if the reallocation described in clause (i) above cannot, or can only partially, be effected, each applicable
Borrower shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Defaulting Lender’s Revolving Percentage of the outstanding Swingline Loans (after giving effect to any partial reallocation
pursuant to clause (i) above) and (y) second, (1) if a drawing is made under any Letter of Credit, such Borrower shall reimburse the applicable Issuing Lender in accordance with Section 3.5 and (2) if a Letter of Credit is
requested by such Borrower in accordance with Section 3.2 during any period where there is a Defaulting Lender that is a Revolving Lender, such Borrower shall enter into an arrangement reasonably satisfactory to the applicable Issuing Lender to
cover in whole or in part (which such arrangement may include cash collateralization) the exposure of the applicable Issuing Lender related to the participating interests of such Defaulting Lender in such newly issued Letter of Credit (after giving
effect to any partial reallocation pursuant to clause (i) above) for so long as such Lender is a Defaulting Lender or until such Lender is replaced pursuant to Section 2.24; 

(iii) if and so long as a Borrower cash collateralizes any portion of such Defaulting Lender’s Revolving Percentage of
outstanding Letters of Credit pursuant to clause (ii) above, then such Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 3.3 with respect thereto; 

  
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 (iv) upon any reallocation described in clause (i) above, the fees
payable to the Revolving Lenders pursuant to Sections 2.10(a) and 3.3 shall be adjusted accordingly to re-allocate such fees among the Revolving Lenders which are not Defaulting Lenders; and 

(v) if any such Defaulting Lender’s Revolving Percentage of outstanding Letters of Credit is neither cash collateralized
nor reallocated pursuant to clause (i) above, then, without prejudice to any rights or remedies of the applicable Issuing Lender or any Lender hereunder, all letter of credit fees payable under Section 3.3 with respect to such Defaulting
Lender’s Revolving Percentage of outstanding Letters of Credit shall be payable to the relevant Issuing Lender until such cash collateralization and/or reallocation occurs; 

(c) no Swingline Lender shall be required to fund any Swingline Loan and no Issuing Lender shall be required to issue, amend or increase any
Letter of Credit, unless it is reasonably satisfied that the related exposure will be covered in whole or in part by the Revolving Commitments of the Revolving Lenders that are not Defaulting Lenders and/or cash collateral or other arrangements will
be provided by each applicable Borrower in accordance with clause (b)(ii) above, and participating interests in any such newly issued or increased Letter of Credit or newly made Swingline Loan shall be (i) allocated among the Revolving Lenders
that are not Defaulting Lenders and/or (ii) covered by arrangements made by each applicable Borrower pursuant to clause (b)(ii) above in a manner consistent with clauses (b)(i) and (ii) (and any such Defaulting Lenders shall not participate
therein); 
 (d) the Revolving Commitment and Revolving Extensions of Credit of such Defaulting Lender shall not be included in determining
whether the Required Lenders or the Majority Facility Lenders under the Revolving Facility have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to Section 10.1); provided,
that this clause (d) shall not apply in the case of an amendment, waiver or other modification requiring the consent of all Lenders or each Lender affected thereby; and 

(e) any amount payable to such Defaulting Lender hereunder (whether on account of principal, interest, fees or otherwise and including any
amount that would otherwise be payable to such Defaulting Lender pursuant to Section 10.7 but excluding Section 2.24) shall, in lieu of being distributed to such Defaulting Lender and without duplication, be retained by the Administrative
Agent in a segregated interest-bearing account reasonably satisfactory to the Administrative Agent and the applicable Borrower(s) and, subject to any applicable requirements of law, be applied at such time or times as may be determined by the
Administrative Agent (i) first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder, (ii) second, pro rata, to the payment of any amounts owing by such Defaulting Lender to any Issuing Lender
or the Swingline Lender hereunder, (iii) third, if so determined by the Administrative Agent or requested by an Issuing Lender or the Swingline Lender, held in such account as cash collateral for existing or (unless such Defaulting Lender has
no remaining unutilized Revolving Commitment) future funding obligations of such Defaulting Lender in respect of any existing or (unless such Defaulting Lender has no remaining unutilized Revolving Commitment) future participation in any Swingline
Loan or Letter of Credit, (iv) fourth, to the funding of any Revolving Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent,
(v) fifth, if so determined by the Administrative Agent and the applicable Borrower(s), unless such Defaulting Lender has no remaining unutilized Revolving Commitment, held in such account as cash collateral for future funding obligations of
the Defaulting Lender in respect of any Revolving Loans under this Agreement, (vi) sixth, to the payment of any amounts owing to any Issuing Lender or the Swingline Lender as a result 

  
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of any judgment of a court of competent jurisdiction obtained by such Issuing Lender or the Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of
its obligations under this Agreement, (vii) seventh, to the payment of any amounts owing to the applicable Borrower(s) as a result of any judgment of a court of competent jurisdiction obtained by such Borrower(s) against such Defaulting Lender
as a result of such Defaulting Lender’s breach of its obligations under this Agreement, and (viii) eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction, provided, that, with respect to this clause
(viii), if such payment is (A) a prepayment of the principal amount of any Revolving Loans or Reimbursement Obligations as to which a Defaulting Lender has funded its participation and (B) made at a time when the conditions set forth in
Section 5.2 are satisfied, such payment shall be applied solely to prepay the Revolving Loans of, and Reimbursement Obligations owed to, all Revolving Lenders that are not Defaulting Lenders under the Revolving Facility pro rata prior to being
applied to the prepayment of any Revolving Loans of, or Reimbursement Obligations owed to, any Defaulting Lender. On the Revolving Termination Date, any remaining amounts not previously applied (except for amounts in connection with clause
(vii) above) shall be returned to the applicable Defaulting Lender. 
 In the event that the Administrative Agent, the applicable
Borrower(s), each Issuing Lender and the Swingline Lender each reasonably determines that any such Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then (i) the outstanding Swingline Loans
and outstanding Letters of Credit of the Revolving Lenders shall be readjusted to reflect the inclusion of such Lender’s Revolving Commitment and on such date such Lender shall purchase at par such of the Revolving Loans of the other Lenders
(other than Swingline Loans) as the Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Revolving Percentage and (ii) any arrangements made by the applicable Borrower(s)
pursuant to clause (b)(ii) above shall be terminated and any cash collateral or arrangement provided by such Borrower(s) in accordance thereto will be terminated or promptly returned to such Borrower(s), as applicable. 

The provisions of this Agreement relating to funding, payment and other matters with respect to the Revolving Facility may be adjusted by the
Administrative Agent, with the consent of the Borrowers (such consent not to be unreasonably withheld), to the extent necessary to give effect to the provisions of this Section 2.28. The provisions of this Section 2.28 may not be amended,
supplemented or modified without, in addition to consents required by Section 10.1, the prior written consent of the Administrative Agent, the Swingline Lenders, the Issuing Lenders, the Borrowers and any Defaulting Lenders. 

Subject to Section 10.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a
Defaulting Lender arising from such Lender becoming a Defaulting Lender, including any claim of a non-Defaulting Lender as a result of such non-Defaulting Lender’s
increased exposure following such reallocation 
 2.29. Designation of Subsidiary Borrowers. (a) The Company shall be permitted,
so long as no Event of Default shall have occurred and be continuing: 
 (i) to designate any Subsidiary (including any
Foreign Subsidiary) of the Company as a Subsidiary Borrower under the Revolving Facility upon (A) 10 Business Days prior written notice to the Lenders (such notice to contain the name, primary business address and taxpayer identification number of
such Subsidiary) (a “Notice of Designation”), (B) the execution and delivery by the Company, such Subsidiary and the Administrative Agent of a Joinder Agreement, substantially in the form of Exhibit D (a “Joinder
Agreement”), providing for such Subsidiary to become a Subsidiary Borrower, (C) compliance by the Company and such Subsidiary Borrower with Section 6.9(c), (D) delivery by the Company or such Subsidiary of all documentation
and 

  
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information as is reasonably requested in writing by the Lenders at least three days prior to the anticipated effective date of such designation required by U.S. regulatory authorities under
applicable “know your customer” and anti- money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation with respect to such Subsidiary, and (E) upon its reasonable request, the delivery to
the Administrative Agent of (1) corporate or other applicable resolutions, incorporation or other applicable constituent documents, officer’s certificates and legal opinions in respect of such Subsidiary in each case reasonably necessary
and equivalent to comparable documents delivered on the Closing Date and (2) such other documents with respect thereto as the Administrative Agent shall reasonably request; and 

(ii) to remove any Subsidiary as a Subsidiary Borrower upon execution and delivery by the Company to the Administrative Agent
of a written notification to such effect and repayment in full of all Loans made to such Subsidiary Borrower, cash collateralization of all L/C Obligations in respect of any Letters of Credit issued for the account of such Subsidiary Borrower and
repayment in full of all other amounts owing by such Subsidiary Borrower under this Agreement and the other Loan Documents (it being agreed that any such repayment shall be in accordance with the other terms of this Agreement). 

(b) Notwithstanding anything to the contrary in this Agreement, a Lender shall not be required to make a Loan as part of any borrowing by or to
issue or acquire a participation in any Letter of Credit issued for the account of, a Foreign Subsidiary with respect to which the Company has delivered a Notice of Designation (a “Proposed Foreign Subsidiary Borrower”) if the
making of such Loan or the issuance by such Lender or the acquisition by such Lender (or, if such Lender is the Issuing Lender, the acquisition by any other Lender) of a participation in, such Letter of Credit would violate any law or regulation
(including any violation of any law or regulation due to an absence of licensing) or a pre-existing generally applicable internal policy to which such Lender is subject; provided that the Revolving Lenders as
of the Closing Date hereby acknowledge that as of the Closing Date, they are permitted to make Loans to, and issue or acquire a participation in Letters of Credit issued to, any Subsidiary Borrower located in England and Wales, Luxembourg, the
Netherlands and the United States that complies with the requirements set forth in Section 2.29(a)(i)(D). As soon as practicable after receiving a Notice of Designation from the Company in respect of a Proposed Foreign Subsidiary Borrower, and
in any event no later than seven Business Days after the date of such Notice of Designation, any Lender that is restricted by any law or regulation (including due to an absence of licensing) to which such Lender is subject from extending credit
(including, for the avoidance of doubt, making Loans, issuing Letters of Credit or acquiring participations in Letters of Credit) under this Agreement to such Proposed Foreign Subsidiary Borrower directly or through a Lender Affiliate as set forth
in Section 2.29(c) (an “Objecting Lender”) shall so notify the Company and the Administrative Agent in writing. With respect to each Objecting Lender that has not withdrawn such notice, the Company shall, effective on or before
the date that such Proposed Foreign Subsidiary Borrower shall have the right to borrow hereunder, either (A) exercise its rights with respect to such Objecting Lender pursuant to Section 2.24 or (B) cancel its request to designate
such Proposed Foreign Subsidiary Borrower as a Subsidiary Borrower hereunder. 
 (c) In addition to the foregoing requirements, if the
Company shall deliver a Notice of Designation with respect to a Proposed Foreign Subsidiary Borrower, any Lender may, with notice to the Administrative Agent and the Company, fulfill its Commitment by causing a Lender Affiliate to act as the Lender
in respect of such Proposed Foreign Subsidiary Borrower. Additionally, (x) such Lender’s obligations under this Agreement shall remain unchanged, (y) such Lender shall remain solely responsible to the other parties hereto for the
performance of those obligations, and (z) the Company, any other Borrower, the Administrative Agent, the Lenders, the Issuing Lenders and the Swingline Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. 

  
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 2.30. Refinancing Facilities. (a) On one or more occasions after the Closing
Date, the applicable Borrower may obtain, from any Lender or any other bank, financial institution or other institutional lender or investor (other than an Ineligible Institution) that agrees to provide any portion of Refinancing Term Loans or Other
Revolving Commitments pursuant to a Refinancing Amendment in accordance with this Section 2.30 (each, an “Additional Refinancing Lender”) (provided that the Administrative Agent, the Swingline Lender and each Issuing Lender, if
applicable, shall have consented (not to be unreasonably withheld or delayed) to such Lender’s or Additional Refinancing Lender’s providing such Refinancing Term Loans or Other Revolving Commitments to the extent such consent, if any,
would be required under Section 10.6(c) for an assignment of Revolving Commitments or Loans to such Lender or Additional Refinancing Lender), Credit Agreement Refinancing Indebtedness in respect of all or any portion of any Class, as selected
by the applicable Borrower in its sole discretion, of Term Loans or Revolving Loans (or unused Commitments in respect thereof) then outstanding under this Agreement, in the form of Refinancing Term Loans, Refinancing Term Commitments, Other
Revolving Commitments, or Other Revolving Loans; provided that notwithstanding anything to the contrary in this Section 2.30 or otherwise, (1) the borrowing and repayment (except for (A) payments of interest and fees at different
rates on Other Revolving Commitments (and related outstandings), (B) repayments required upon the maturity date of the Other Revolving Commitments and (C) repayment made in connection with a permanent repayment and termination of commitments
(subject to clause (3) below)) of Loans with respect to Other Revolving Commitments after the date of obtaining any Other Revolving Commitments shall be made on a pro rata basis with all other Revolving Commitments, (2) subject to the
provisions of Section 2.9(e) and Section 3.9 to the extent dealing with Swingline Loans and Letters of Credit which mature or expire after a maturity date when there exist Other Revolving Commitments with a longer maturity date, all
Swingline Loans and Letters of Credit shall be participated on a pro rata basis by all Lenders with Commitments in accordance with their percentage of the Commitments in respect of Revolving Loans (and except as provided in Section 2.9(e) and
Section 3.9, without giving effect to changes thereto on an earlier maturity date with respect to Swingline Loans and Letters of Credit theretofore incurred or issued), (3) the permanent repayment of Revolving Loans with respect to, and
termination of, Other Revolving Commitments after the date of obtaining any Other Revolving Commitments shall be made on a pro rata basis with all other Revolving Commitments in respect of Revolving Loans, except that the Company shall be permitted
to permanently repay and terminate commitments of any such Class on a better than a pro rata basis as compared to any other Class with a later maturity date than such Class and (4) assignments and participations of Other
Revolving Commitments and Other Revolving Loans shall be governed by the same assignment and participation provisions applicable to Revolving Commitments and Revolving Loans. 

(b) The effectiveness of any Refinancing Amendment shall be subject to the satisfaction on the date thereof of each of the conditions set forth
in Section 5.2 and, to the extent reasonably requested by the Administrative Agent, receipt by the Administrative Agent of reaffirmation agreements and/or such amendments to the Collateral Documents as may be reasonably requested by the
Administrative Agent in order to ensure that such Credit Agreement Refinancing Indebtedness is provided with the benefit of the applicable Loan Documents. 

(c) Each issuance of Credit Agreement Refinancing Indebtedness under Section 2.30(a) shall be in an aggregate principal amount that is
(x) not less than $10,000,000 and (y) an integral multiple of $1,000,000 in excess thereof. 
 (d) Each of the parties hereto
hereby agrees that this Agreement and the other Loan Documents may be amended pursuant to a Refinancing Amendment, without the consent of any other Lenders, to the extent (but only to the extent) necessary to (i) reflect the existence and terms
of the Credit Agreement Refinancing Indebtedness incurred pursuant thereto and (ii) make such other changes to this Agreement and the other Loan Documents consistent with the provisions and intent of the third paragraph

  
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of Section 10.1 (without the consent of the Required Lenders called for therein) and (iii) effect such other amendments to this Agreement and the other Loan Documents as may be
necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Company, to effect the provisions of this Section 2.30, and the Required Lenders hereby expressly authorize the Administrative Agent to enter into any such
Refinancing Amendment. 
 (e) This Section 2.30 shall supersede any provisions in Section 2.19 or 10.1 to the contrary. 

SECTION 3. LETTERS OF CREDIT 
 3.1. L/C
Commitments. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the Revolving Lenders set forth in this Section 3, agrees to issue letters of credit (provided that Barclays Bank PLC
shall only be required to issue standby letters of credit) (“Letters of Credit”) for the account of any Borrower (or for the joint and several account of any Borrower and any Subsidiary) on any Business Day in such form as may be
approved from time to time by such Issuing Lender; provided that such Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, the then outstanding L/C Obligations of such Issuing Lender would
exceed such Issuing Lender’s L/C Commitment then in effect; provided further that no Issuing Lender shall issue any Letter of Credit if, after giving effect to such issuance, (i) the aggregate amount of the Available Revolving Commitments
would be less than zero or (ii) the aggregate undrawn amount of outstanding Letters of Credit and unpaid Reimbursement Obligations under the Revolving Facility would exceed $75,000,000. Each Letter of Credit shall (i) be denominated in
U.S. Dollars or any Foreign Currency and (ii) expire (or be subject to termination by notice from the relevant Issuing Lender to the beneficiary thereof) no later than the earlier of (x) the first anniversary of its date of issuance and
(y) the Letter of Credit Expiration Date; provided that any Letter of Credit with a one-year term may provide for the automatic extension thereof for additional
one-year periods (each, an “Auto-Extension Letter of Credit”) (which shall in no event extend beyond the Letter of Credit Expiration Date except to the extent cash collateralized or
backstopped pursuant to arrangements reasonably acceptable to the relevant Issuing Lender and the applicable Borrower); provided that any such Auto-Extension Letter of Credit must, if requested by the Issuing Lender, permit the Issuing Lender to
prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day in each such twelve-month period to be agreed
upon at the time such Letter of Credit is issued. 
 (b) No Issuing Lender shall at any time be obligated to issue any Letter of Credit
hereunder if such issuance would conflict with, or cause such Issuing Lender or any L/C Participant to exceed any limits imposed by, any applicable Requirement of Law or any pre-existing generally applicable
internal policies of such Issuing Lender applicable to Letters of Credit issued by such Issuing Lender. 
 (c) On the Closing Date, the
Existing Letters of Credit will automatically, without any action on the part of any Person, be deemed to be Letters of Credit issued hereunder on the Closing Date for the account of the Company for all purposes of this Agreement and the other Loan
Documents. 
 3.2. Procedure for Issuance of Letter of Credit. Any Borrower may from time to time request that any Issuing Lender
issue a Letter of Credit by delivering to such Issuing Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of such Issuing Lender, and such other certificates, documents and other papers and
information as such Issuing Lender may request. Upon receipt of any Application, the relevant Issuing Lender shall promptly issue the Letter of Credit requested thereby (but in no event shall any Issuing Lender be required to issue any Letter of
Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of

  
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Credit to the beneficiary thereof or as otherwise may be agreed to by the relevant Issuing Lender and the applicable Borrower. The relevant Issuing Lender shall furnish a copy of such Letter of
Credit to the applicable Borrower promptly following the issuance thereof. The relevant Issuing Lender shall promptly furnish to the Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of the issuance of each Letter of
Credit (including the amount thereof). 
 3.3. Fees and Other Charges. (a) Each applicable Borrower will pay a fee on all
outstanding Letters of Credit (with respect to any Letters of Credit denominated in a Foreign Currency, based on the Dollar Equivalent thereof) issued for the account of such Borrower (or for the joint and several account of such Borrower and any
Subsidiary) at a per annum rate equal to the Applicable Margin then in effect with respect to Eurodollar Loans or CDOR Loans, as the case may be, at such time under the Revolving Facility, shared ratably among the Revolving Lenders. Such fees shall
be payable quarterly in arrears on each L/C Fee Payment Date after the issuance date. In addition, each applicable Borrower shall pay to the relevant Issuing Lender for its own account a fronting fee equal to 0.125% per annum (or such lesser amount
separately agreed in writing between the relevant Issuing Lender and the Company) of the undrawn and unexpired amount of each Letter of Credit issued by such Issuing Lender for the account of such Borrower (or for the joint and several account of
such Borrower and any Subsidiary), payable quarterly in arrears on each L/C Fee Payment Date after the issuance date. 
 (b) In addition to
the foregoing fees, each applicable Borrower shall pay or reimburse each Issuing Lender for such normal and customary costs and expenses as are incurred or charged by such Issuing Lender in issuing, negotiating, effecting payment under, amending or
otherwise administering any Letter of Credit issued for the account of such Borrower (or for the joint and several account of such Borrower and any Subsidiary). 

3.4. L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to
induce such Issuing Lender to issue Letters of Credit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from such Issuing Lender, on the terms and conditions hereinafter stated, for such L/C
Participant’s own account and risk an undivided interest equal to such L/C Participant’s Revolving Percentage in such Issuing Lender’s obligations and rights under each Letter of Credit issued hereunder and the amount of each draft
paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued for such Issuing Lender is not reimbursed in full by the
applicable Borrower in accordance with the terms of this Agreement such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender’s address for notices specified herein an amount in U.S. Dollars equal to such L/C
Participant’s Revolving Percentage (determined, in the case of any Letter of Credit denominated in a Foreign Currency, on the date such draft is drawn) of the amount of such draft, or any part thereof, that is not so reimbursed (whether or not
the conditions to borrowing set forth in Section 5.2 are satisfied) (based on, in the case of any Letter of Credit denominated in a Foreign Currency, the Dollar Equivalent of the amount of such draft, or any part thereof, that is not so
reimbursed). Each L/C Participant’s obligation to purchase participating interests pursuant to this Section 3.4(a) shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff,
counterclaim, recoupment, defense or other right that such L/C Participant or any Borrower may have against any Issuing Lender, any Borrower or any other Person for any reason whatsoever; (ii) the occurrence or continuance of a Default or the
failure to satisfy any of the other conditions specified in Section 5; (iii) any adverse change in the condition (financial or otherwise) of any Borrower; (iv) any breach of this Agreement or any other Loan Document by any Borrower, any
other Loan Party or any other Lender; or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 

  
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 (b) If any amount required to be paid by any L/C Participant to any Issuing Lender pursuant
to Section 3.4(a) in respect of any unreimbursed portion of any payment made by such Issuing Lender under any Letter of Credit is paid to such Issuing Lender within three Business Days after the date such payment is due, such L/C Participant
shall pay to such Issuing Lender on demand an amount equal to the product of (i) such amount, times (ii) the daily average Federal Funds Effective Rate during the period from and including the date such payment is required to the date on
which such payment is immediately available to the relevant Issuing Lender, times (iii) a fraction the numerator of which is the number of days that elapse during such period and the denominator of which is 360. If any such amount required to
be paid by any L/C Participant pursuant to Section 3.4(a) is not made available to the relevant Issuing Lender by such L/C Participant within three Business Days after the date such payment is due, such Issuing Lender shall be entitled to
recover from such L/C Participant, on demand, such amount with interest thereon calculated from such due date at the rate per annum applicable to ABR Loans under the Revolving Facility. A certificate of the relevant Issuing Lender submitted to any
L/C Participant with respect to any amounts owing under this Section shall be conclusive absent manifest error. 
 (c) Whenever, at any time
after any Issuing Lender has made payment under any Letter of Credit and has received from any L/C Participant its pro rata share of such payment in accordance with Section 3.4(a), such Issuing Lender receives any payment related to such Letter
of Credit (whether directly from the applicable Borrower or otherwise, including proceeds of collateral applied thereto by such Issuing Lender), or any payment of interest on account thereof, such Issuing Lender will distribute to such L/C
Participant its pro rata share thereof; provided, however, that in the event that any such payment received by such Issuing Lender shall be required to be returned by such Issuing Lender, such L/C Participant shall return to such Issuing Lender the
portion thereof previously distributed by such Issuing Lender to it. 
 3.5. Reimbursement Obligation of the Borrowers. Each
applicable Borrower agrees to reimburse the relevant Issuing Lender in U.S. Dollars (in the case of any Letter of Credit denominated in a Foreign Currency, in an amount equal to the Dollar Equivalent of such draft) no later than the first Business
Day following each date on which such Issuing Lender notifies such Borrower of the date and amount of a draft presented under any Letter of Credit issued for the account of such Borrower (or for the joint and several account of such Borrower and any
Subsidiary) and paid by such Issuing Lender for the amount of (a) such draft so paid and (b) any fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment. Each such payment shall be made to
the relevant Issuing Lender at its address for notices specified herein in lawful money of the United States and in immediately available funds. Interest shall be payable on any and all amounts remaining unpaid by the applicable Borrower under this
Section from the date such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing,
Section 2.16(b) and (ii) thereafter, Section 2.16(f). 
 3.6. Obligations Absolute. Each applicable Borrower’s
obligations under this Section 3 shall be absolute, unconditional and irrevocable and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances and irrespective of (i) any lack of validity
or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement
therein being untrue or inaccurate in any respect, (iii) payment by any Issuing Lender under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, (iv) any other
event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of any setoff, counterclaim or defense to payment
that any Borrower may have or may have had against any Issuing Lender, any beneficiary of a Letter of Credit or 

  
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any other Person, (v) any waiver by the Issuing Lender of any requirement that exists for the Issuing Lender’s protection and not the protection of any Borrower or any waiver by the
Issuing Lender which does not in fact materially prejudice the applicable Borrower, (vi) honor of a demand for payment presented electronically even if such Letter of Credit requires that demand be in the form of a draft, or (vii) any
payment made by the Issuing Lender in respect of an otherwise complying item presented after the date specified as the expiration date of, or the date by which documents must be received under, such Letter of Credit if presentation after such date
is authorized by the Uniform Commercial Code, the ISP or the UCP, as applicable. Each applicable Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of
noncompliance with such Borrower’s instructions or other irregularity, such Borrower will promptly notify the Issuing Lender. Each Borrower shall be conclusively deemed to have waived any such claim against the Issuing Lender and its
correspondents unless such notice is given as aforesaid. 
 Each Borrower also agrees with each Issuing Lender that such Issuing Lender
shall not be responsible for, and such Borrower’s Reimbursement Obligations under Section 3.5 shall not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even though such documents
shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among any Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of any
Borrower against any beneficiary of such Letter of Credit or any such transferee. No Issuing Lender shall be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted,
in connection with any Letter of Credit, except for errors or omissions found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the bad faith, gross negligence or willful misconduct of such Issuing
Lender. Each Borrower agrees that any action taken or omitted by any Issuing Lender under or in connection with any Letter of Credit or the related drafts or documents, unless taken or omitted with bad faith, gross negligence or willful misconduct
as found by a final and nonappealable decision of a court of competent jurisdiction, shall be binding on such Borrower and shall not result in any liability of such Issuing Lender to such Borrower. The foregoing shall not be construed to excuse any
Issuing Lender from liability to the applicable Borrower to the extent of any direct damages (as opposed to consequential, special, indirect or punitive damages, claims in respect of which are hereby waived by each Borrower to the extent permitted
by applicable law) suffered by such Borrower that are caused by such Issuing Lender’s failure to exercise the agreed standard of care as found by a final and nonappealable decision of a court of competent jurisdiction in determining whether
drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that each Issuing Lender shall have exercised the agreed standard of care in the absence of bad faith, gross negligence
or willful misconduct on the part of such Issuing Lender as found by a final and nonappealable decision of a court of competent jurisdiction. 

3.7. Letter of Credit Payments. If any draft shall be presented for payment under any Letter of Credit, the relevant Issuing Lender
shall, within a period stipulated by the terms and conditions of such Letter of Credit following its receipt of such draft, examine such draft. The Issuing Lender shall, promptly after such examination, notify the applicable Borrower of the date and
amount of such draft. The responsibility of the relevant Issuing Lender to any Borrower in connection with any draft presented for payment under any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter
of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such presentment are in substantial compliance with the terms of such Letter of Credit. The relevant Issuing
Lender may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such
documents if such documents are not in strict compliance with the terms of such Letter of Credit. 

  
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 3.8. Applications. To the extent that any provision of any Application related to any
Letter of Credit is inconsistent with the provisions of this Section 3, the provisions of this Section 3 shall apply. 
 3.9.
Provisions Related to Letters of Credit in Respect of Extended Revolving Commitments. If the Letter of Credit Expiration Date in respect of any Class, tranche or series of Revolving Commitments occurs prior to the expiry date of any Letter of
Credit, then (i) if consented to by the Issuing Lender which issued such Letter of Credit, if one or more other Classes, tranches or series of Revolving Commitments in respect of which the Letter of Credit Expiration Date shall not have so
occurred are then in effect, such Letters of Credit for which consent has been obtained shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to
make Revolving Loans and payments in respect thereof pursuant to Sections 3.4 and 3.5 under (and ratably participated in by Lenders pursuant to) the Revolving Commitments in respect of such non-terminating
tranches up to an aggregate amount not to exceed the aggregate amount of the unutilized Revolving Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to
the extent not reallocated pursuant to immediately preceding clause (i), the Company shall cash collateralize any such Letter of Credit. Upon the maturity date of any tranche of Revolving Commitments, the sublimit for Letters of Credit may be
reduced as agreed between the Issuing Lender and the Company, without the consent of any other Person. 
 SECTION 4. REPRESENTATIONS AND WARRANTIES

 To induce the Administrative Agent and the Lenders to enter into this Agreement and to make the Loans and issue or participate in the
Letters of Credit, the Company and, as to itself, each other Borrower, hereby represent and warrant to the Administrative Agent and each Lender that: 

4.1. Financial Condition. The audited combined balance sheets of the Kontoor Brands business of VF as at December 30, 2017 and
December 29, 2018, and the related combined statements of income, comprehensive income, equity and cash flows for the fiscal years ended on such dates in each case as set forth in the Form 10 present fairly in all material respects the
financial condition of the Company as at such dates, and the combined results of its operations and its combined cash flows for the applicable annual periods then ended. All such financial statements, including the related schedules and notes
thereto, have been prepared in accordance with GAAP applied consistently throughout the periods involved (except as approved by the aforementioned firm of accountants and disclosed therein). 

4.2. No Change. Except as set forth in any Exchange Act Reports of the Company or any public filings of VF (with respect to the business
and financial condition of the Company only) made with the SEC on or prior to the Closing Date, since December 29, 2018, there has not occurred any change, development or event that, individually or in the aggregate, has had or would reasonably
be expected to have a Material Adverse Effect. 
 4.3. Existence; Compliance with Law. Each of the Company and its Subsidiaries
(a) is (except in the case of any Immaterial Subsidiary) duly organized, validly existing and in good standing (to the extent such concept is relevant in the applicable jurisdiction) under the laws of the jurisdiction of its organization,
(b) has the corporate or other organizational power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged, (c) is duly
qualified as a foreign corporation or other entity and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification and (d) is in compliance
with all Requirements of Law except, in the case of clauses (a) (except with respect to the Company), (b), (c) and (d), to the extent that the failure to be qualified or comply would not, in the aggregate, reasonably be expected to have a Material
Adverse Effect. 

  
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 4.4. Power; Authorization; Enforceable Obligations. Each Loan Party has the corporate
or other organizational power and authority, and the legal right, to make, deliver and perform the Loan Documents to which it is a party and, in the case of each Borrower, to borrow hereunder. Each Loan Party has taken all necessary corporate or
other organizational action to authorize the execution, delivery and performance of the Loan Documents to which it is a party and, in the case of each Borrower, to authorize the borrowings on the terms and conditions of this Agreement. No consent or
authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person is required in connection with the Transaction and the borrowings hereunder or with the execution, delivery, performance,
validity or enforceability of this Agreement or any of the other Loan Documents, except (i) consents, authorizations, filings and notices described in Schedules 4.4, 4.20(a) and 4.20(b), which consents, authorizations, filings and notices have
been obtained or made and are in full force and effect or will have been obtained or made and be in full force and effect on the Closing Date or (ii) where the failure to obtain such consent or authorization, or failure to file or provide
notice would not, in the aggregate, reasonably be expected to have a Material Adverse Effect. Each Loan Document has been duly executed and delivered on behalf of each Loan Party that is a party thereto. This Agreement constitutes, and each other
Loan Document upon execution will constitute, a legal, valid and binding obligation of each Loan Party that is a party thereto, enforceable against each such Loan Party in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law). 

4.5. No Legal Bar. The execution, delivery and performance of this Agreement and the other Loan Documents, the issuance of Letters of
Credit, the borrowings hereunder and the use of the proceeds thereof will not violate (a) the Certificate of Incorporation and By-Laws or other organizational or governing documents of the Company or any
of its Subsidiaries and (b) any other Requirement of Law or any Contractual Obligation of the Company or any of its Subsidiaries and will not result in, or require, the creation or imposition of any Lien on any of their respective properties or
revenues pursuant to any Requirement of Law or any such Contractual Obligation (other than the Liens created by the Security Documents), except to the extent, in this clause (b), such violation would not reasonably be expected to have a Material
Adverse Effect. 
 4.6. Litigation. Except as disclosed in any Exchange Act Report of the Company or any public filings of VF (with
respect to the business and financial condition of the Company only) made with the SEC on or prior to the Closing Date, no litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the Knowledge
of any Borrower, threatened by or against the Company or any of its Subsidiaries or against any of their respective properties or revenues (a) with respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby,
or (b) that would reasonably be expected to have a Material Adverse Effect. 
 4.7. No Default. (a) Neither the Company nor
any of its Subsidiaries is in default under or with respect to any of its Contractual Obligations in any respect that would reasonably be expected to have a Material Adverse Effect. 

(b) No Default has occurred and is continuing. 

4.8. Ownership of Property. Each of the Company and its Subsidiaries (other than Foreign Subsidiaries, as to which no representation is
made) has title in fee simple to, or a valid leasehold interest in, all its material real property, including the Mortgaged Properties, and good title to, or a valid leasehold interest in, all its other property and rights, except where such failure
would not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 4.9. Intellectual Property. The Company and each of its Subsidiaries owns, or is
licensed to use, all material Intellectual Property, other than patents, necessary for the conduct of its business as currently conducted, and to the Knowledge of the Company, the Company and each of its Subsidiaries owns, or is licensed to use, all
material patents necessary for the conduct of its business as currently conducted, and no claim has been asserted and is pending by any Person challenging or questioning the use of any such material Intellectual Property (including such patents) or
the validity of any such material Intellectual Property (including such patents), nor does any Borrower know of any valid basis for any such claim, except, in each of the foregoing cases, as would not, in the aggregate, reasonably be expected to
result in a Material Adverse Effect. No use of Intellectual Property by the Company and its Subsidiaries infringes on the rights of any Person, except where such use would not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect. 
 4.10. Taxes. Except as would not be expected to result in a Material Adverse Effect, each of the Company
and each of its Subsidiaries has filed or caused to be filed all Federal, state and other tax returns that are required to be filed and has paid all Taxes (whether or not shown to be due and payable on said returns) or on any assessments made
against it or any of its property and all other Taxes imposed on it or any of its property by any Governmental Authority (other than any amount or validity of which are currently being contested in good faith by appropriate proceedings and with
respect to which reserves in conformity with GAAP have been provided on the books of the Company or such Subsidiary, as the case may be). 

4.11. Compliance with Swiss Non-Bank Rules. Each Swiss Borrower is at all times in compliance
with the Swiss Non-Bank Rules. For the purpose of its compliance with the Swiss Non-Bank Rules under this Section 4.11, the aggregate number of Lenders under this
Agreement which are not Swiss Qualifying Banks shall be deemed to be five (irrespective of whether or not there is, at any time, such a Lender). This representation shall not be deemed to be breached in case the Swiss
Non-Bank Rules are violated solely as a result of any non-compliance by a Lender with the provisions of Section 10.6(j) or a Lender making a misrepresentation as
(i) to its status according to Section 2.21(k) as a Swiss Qualifying Bank or as (only) one Permitted Non-Qualifying Bank or (ii) ceasing to be a Swiss Qualifying Bank Creditor or as (only) one
Permitted Non-Qualifying Bank after the time it acceded to this Agreement. 
 4.12. Federal
Regulations. No part of the proceeds of any Loans will be used for “buying” or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation U as now and from time to time
hereafter in effect or for any purpose that violates the provisions of the Regulations of the Board. 
 4.13. Labor Matters. Except
as, in the aggregate, would not reasonably be expected to have a Material Adverse Effect: (a) there are no strikes or other labor disputes against the Company or any of its Subsidiaries pending or, to the Knowledge of the Company, threatened
and (b) hours worked by and payment made to employees of the Company and its Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Requirement of Law dealing with such matters. 

4.14. ERISA. During the five-year period prior to the date on which this representation is made, except as would not reasonably be
expected to have a Material Adverse Effect, (a) neither a Reportable Event nor an “accumulated funding deficiency” or “failure to meet the minimum funding standards” (within the meaning of Section 412 of the Code or
Section 302 of ERISA) has occurred with respect to any Single Employer Plan, and (b) each Single Employer Plan has complied with the applicable provisions of ERISA and the Code. To the Knowledge of the Company, no termination of a Single

  
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Employer Plan under Section 4041(c) of ERISA has occurred, and no Lien in favor of the PBGC or a Plan has arisen, during such five-year period. The present value of all accrued benefits
under each Single Employer Plan (based on those assumptions used to fund such Plans) did not, as of the last annual valuation date prior to the date on which this representation is made or deemed made, exceed the value of the assets of such Single
Employer Plan allocable to such accrued benefits by an amount which would reasonably be expected to have a Material Adverse Effect. Neither the Company nor any Commonly Controlled Entity has had a complete or partial withdrawal from any
Multiemployer Plan that has resulted or would reasonably be expected to result in a Material Adverse Effect under ERISA. Except as would not reasonably be expected to result in material liability to the Loan Parties, no such Multiemployer Plan is
Insolvent. 
 4.15. Investment Company Act; Other Regulations. No Loan Party is required to register as an “investment
company” within the meaning of the Investment Company Act of 1940, as amended. 
 4.16. Subsidiaries. Schedule 4.16 sets forth
the name and jurisdiction of formation of each Subsidiary and, as to each such Subsidiary, the percentage of each class of Capital Stock owned by any Loan Party, in each case, on the Closing Date, after giving effect to the Distribution and the
Closing Date Cash Transfer. 
 4.17. Use of Proceeds. (a) The proceeds of the Term Loans made on the Closing Date will be used to
pay fees and expenses relating to the Transactions, to fund the Closing Date Cash Transfer and for general corporate purposes. 
 (b) The
proceeds of the Revolving Loans shall be used to finance the working capital needs and general corporate purposes of the Company and its Subsidiaries or for any other purpose not prohibited under this Agreement. 

(c) The proceeds of the Swingline Loans and the Letters of Credit shall be used for general corporate purposes or for any other purpose not
prohibited under this Agreement. 
 4.18. Environmental Matters. Except as, in the aggregate, would not reasonably be expected to have
a Material Adverse Effect: 
 (a) the facilities and real properties owned, leased or operated by the Company or any of its Subsidiaries (the
“Properties”) do not contain any Materials of Environmental Concern under circumstances that constitute a violation of, or would reasonably be expected to give rise to liability under, any Environmental Law; 

(b) neither the Company nor any of its Subsidiaries has received any written notice of violation, alleged violation, non-compliance, liability or potential liability regarding Environmental Laws with regard to any of the Properties or the business operated by the Company or any of its Subsidiaries (the “Business”)
nor does any Borrower have Knowledge of any such threatened notice; 
 (c) Materials of Environmental Concern have not been transported or
disposed of from the Properties in violation of, or in a manner or to a location that would be reasonably expected to give rise to liability under, any Environmental Law, nor have any Materials of Environmental Concern been generated, treated,
stored or disposed of at, on or under any of the Properties in violation of, or in a manner that would reasonably be expected to give rise to liability under, any Environmental Law; 

  
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 (d) no judicial proceeding or governmental or administrative action is pending or, to the
Knowledge of any Borrower, threatened, under any Environmental Law to which the Company or any Subsidiary is or, to the knowledge of any Borrower, will be named as a party with respect to the Properties or the Business, nor are there any consent
decrees or other decrees, consent orders or administrative orders or other orders in effect under any Environmental Law with respect to the Properties or the Business; 

(e) there has been no release or threatened release of Materials of Environmental Concern at or from the Properties, or arising from or related
to the operations of the Company or any Subsidiary in connection with the Properties or otherwise in connection with the Business, in violation of or in amounts or in a manner that could give rise to liability under Environmental Laws; and 

(f) the Company and the Subsidiaries are, and have in the last five years been in compliance, with all applicable Environmental Laws. 

4.19. Accuracy of Information, etc. (a) (i) Written factual information, other than the Projections, forward-looking statements,
estimates and information of a general economic or industry specific nature (the “Information”), that has been made available to the Administrative Agent or the Arrangers in connection with the transactions contemplated by this
Agreement, concerning the Borrower, its Subsidiaries, the Transactions and the other transactions contemplated by this Agreement, when taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements are made (after giving effect to all supplements and updates thereto and to any information contained in
any public filing made by the Company with the SEC) and (ii) the Projections have been prepared in good faith based upon assumptions believed by the Company to be reasonable at the time furnished (it being recognized by us that such Projections
are not to be viewed as facts and are subject to significant uncertainties and contingencies many of which are beyond your control and that actual results during the period or periods covered by any such Projections may differ from the projected
results, and such differences may be material). 
 (b) As of the Closing Date, to the best Knowledge of the Borrower, the information
included in the Beneficial Ownership Certification provided on or prior to the Closing Date to any Lender in connection with this Agreement is true and correct in all material respects. 

4.20. Security Documents. (a) Other than during a Suspension Period, the Collateral Agreement is effective to create in favor of
the Collateral Agent, for the benefit of the Administrative Agent and the Lenders, a legal, valid and enforceable (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally) security interest in the Collateral described therein and proceeds thereof. In the case of the Pledged Stock described in the Collateral Agreement, when the Administrative Agent (or its designee or
agent) obtains control of stock certificates representing such Pledged Stock (as defined in the Collateral Agreement), in the case of the other Collateral described in the Collateral Agreement (other than any Intellectual Property constituting
Collateral), when financing statements and other filings specified on Schedule 4.20(a) in appropriate form are or have been filed in the offices specified on Schedule 4.20(a), and, in the case of Intellectual Property constituting Collateral, when
financing statements and other filings specified on Schedule 4.20(a) in appropriate form are or have been filed in the appropriate offices and appropriate filings have been filed with the United States Patent and Trademark Office or United States
Copyright Office, as applicable, the Collateral Agreement shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral and the proceeds thereof to the extent a security
interest can be perfected by filings or other action required thereunder as security for the Obligations (as defined in the Collateral Agreement), in each case prior and superior in right to any other Person (except, Liens permitted by
Section 7.3). 

  
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 (b) Other than during a Suspension Period, each of the Mortgages is effective to create in
favor of the Collateral Agent, for the benefit of the Administrative Agent and the Lenders, a legal, valid and enforceable Lien on the Mortgaged Properties described therein and proceeds thereof, and when the Mortgages are or have been filed or
recorded in the offices specified on Schedule 4.20(b), each such Mortgage shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in the Mortgaged Properties and the proceeds thereof,
as security for the Obligations (as defined in the relevant Mortgage), in each case prior and superior in right to any other Person subject only to permitted Liens described in Section 7.3 hereof. As of the Closing Date, Schedule 1.1B lists
each of the real properties in the United States owned in fee simple by the Company or any of its Subsidiaries having a value, in the reasonable opinion of the Company, in excess of $30,000,000. 

4.21. Solvency. As of the Closing Date, each Loan Party is, and after giving effect to the Transactions and the incurrence of all
Indebtedness and obligations being incurred in connection herewith and therewith will be, Solvent. 
 4.22. Anti-Corruption Laws and
Sanctions. The Company has implemented and maintains in effect policies and procedures reasonably designed to promote compliance by the Company, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption
Laws and applicable Sanctions, and the Company, its Subsidiaries and, to the Knowledge of the Company, its directors, officers, employees and agents, acting in their capacity as such, are in compliance with Anti-Corruption Laws and applicable
Sanctions in all material respects. None of (a) the Company, any Subsidiary or, to the Knowledge of the Company, any of the Company’s directors, officers or employees, or (b) to the Knowledge of the Company, any agent of the Company
or any Subsidiary that will act in any capacity in connection with or benefit from the credit facilities established hereby, is a Sanctioned Person. No Loan or Letter of Credit, direct or, to any Borrower’s Knowledge, indirect use of proceeds,
or other transaction by any Borrower contemplated by this Agreement will violate Anti-Corruption Laws or applicable Sanctions. 
 4.23.
EEA Financial Institutions. No Loan Party is an EEA Financial Institution. 
 SECTION 5. CONDITIONS PRECEDENT 

5.1. Conditions to the Closing Date. The agreement of each Lender to make extensions of credit hereunder is subject to the prior or
concurrent satisfaction of the following conditions precedent (except as set forth in Section 6.9, Section 6.11 and Section 6.12): 

(a) Loan Documents. The Administrative Agent shall have received (i) this Agreement, executed and delivered by each Borrower and
the Lenders, (ii) the Guarantee Agreement, executed and delivered by each Loan Party and the Administrative Agent and (iii) the Collateral Agreement, executed and delivered by each Loan Party, the Administrative Agent and the Collateral
Agent. 
 (b) Fees. The Administrative Agent shall have received (including by deducting such amounts from the proceeds of the initial
fundings under the Facilities) all fees required to be paid on the Closing Date and reasonable out-of-pocket expenses required to be reimbursed on the Closing Date, to
the extent, in the case of expenses, invoiced at least three business days prior to the Closing Date. 
 (c) Closing Certificates. The
Administrative Agent (or its counsel) shall have received (i) a certificate of a Responsible Officer of the Company certifying satisfaction of the conditions set forth in clauses (a) and (b) of Section 5.2 and (ii) a certificate
of each Loan Party, dated as of the Closing Date executed by a secretary, assistant secretary or other senior officer (as the case may be) thereof, which shall (A) certify that attached thereto is a true and complete copy of the resolutions or
written consents of 

  
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its shareholders, board of directors, board of managers, members or other governing body authorizing the entry into the Loan Documents to which it is a party and, in the case of the Borrower, the
borrowings, and that such resolutions or written consents have not been modified, rescinded or amended and are in full force and effect, (B) identify by name and title and bear the signatures of the officers, managers, directors or authorized
signatories of such Loan Party authorized to sign the Loan Documents to which it is a party on the Closing Date and (C) certify (x) that attached thereto is a true and complete copy of the certificate or articles of incorporation or
organization (or memorandum of association or other equivalent thereof) of such Loan Party certified by the relevant authority of the jurisdiction of organization of such Loan Party and a true and correct copy of its
by-laws or operating, management, partnership or similar agreement (in case of Lee Wrangler a certified copy of its articles of association (Statuten) and a certified excerpt from the commercial
register of the canton of Ticino (Handelsregisterauszug)) and (y) that such documents or agreements have not been amended (except as otherwise attached to such certificate and certified therein as being the only amendments thereto as of
such date). 
 (d) Legal Opinion. The Administrative Agent shall have received the executed legal opinions in the form of Exhibit C
hereto of (i) Davis Polk & Wardwell LLP, special New York counsel to the Borrowers and the other Loan Parties, (ii) Womble Bond Dickinson LLP, special North Carolina legal counsel to the Company and the other Loan Parties,
(iii) Morris, Nichols, Arsht & Tunnell LLP, special Delaware legal counsel to the Company and the other Loan Parties and (iv) Homburger AG, special Swiss counsel to the Administrative Agent and the Lenders. 

(e) Collateral. With respect to the Facilities, all documents and instruments necessary to create and perfect a first priority security
interest (subject to liens permitted under the Loan Documents) in the Collateral under the Facilities shall have been delivered by the Loan Parties. 

(f) Historical Financial Statements. The Administrative Agent shall have received the audited combined balance sheet of the Kontoor
Brands business of VF and the related combined statements of income, comprehensive income, equity and cash flows for the fiscal years ended December 31, 2016, December 30, 2017 and December 29, 2018. 

(g) Projections. The Arrangers shall have received the Projections. 

(h) Material Adverse Effect. Except as set forth in any Exchange Act Reports of the Company or any public filings of VF (with respect to
the business and financial condition of the Company only) made with the SEC on or prior to the Closing Date, since December 29, 2018, there has not occurred any change, development or event that, individually or in the aggregate, has had or
would reasonably be expected to have a Material Adverse Effect. 
 (i) KYC. The Administrative Agent shall have received, at least
three business days prior to the Closing Date, all documentation and other information about the Loan Parties as has been reasonably requested in writing at least ten business days prior to the Closing Date by the Administrative Agent or the
Arrangers that they reasonably determine is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation. 

(j) Solvency Certificate. The Administrative Agent shall have received a solvency certificate dated as of the Closing Date in
substantially the form of Exhibit G from a Responsible Officer of the Company. 

  
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 (k) No Indebtedness. On the Closing Date, after giving effect to the Transactions,
neither the Borrower nor any of its Subsidiaries shall have any material Indebtedness for borrowed money other than the Facilities or other Indebtedness set forth on Schedule 7.2(d). 

5.2. Conditions to Each Extension of Credit. The agreement of each Lender to make any extension of credit requested to be made by it on
any date is subject to the satisfaction of the following conditions precedent: 
 (a) Representations and Warranties. Each of the
representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material respects (and in all respects if any such representation and warranty is qualified by materiality) on and as of such
date as if made on and as of such date (except to the extent any such representation and warranty expressly relates to an earlier date, in which case it was true and correct in all material respects (and in all respects if any such representation
and warranty is qualified by materiality) as of such earlier date). 
 (b) No Default. No Default shall have occurred and be
continuing on such date or after giving effect to the extensions of credit requested to be made on such date. 
 Each borrowing by and
issuance of a Letter of Credit on behalf of any Borrower hereunder shall constitute a representation and warranty by such Borrower as of the date of such extension of credit that the conditions contained in this Section 5.2 have been satisfied.

 SECTION 6. AFFIRMATIVE COVENANTS 
 From
and after the Closing Date, the Company hereby agrees that, so long as the Commitments remain in effect, any Letter of Credit remains outstanding or any Loan or other amount is due and owing to any Lender or the Administrative Agent hereunder, the
Company shall and shall cause each of its Subsidiaries to: 
 6.1. Financial Statements. Furnish to the Administrative Agent and each
Lender: 
 (a) as soon as available, but in any event within (i) with respect to the fiscal year of the Company during which the
Distribution is consummated, 120 days after the end of such fiscal year of the Company, and (ii) with respect to each other fiscal year of the Company, 90 days after the end of such fiscal year of the Company ending after the Closing Date, a
copy of the audited consolidated balance sheet of the Company and its consolidated Subsidiaries as at the end of such year and the related audited consolidated statements of income and of cash flows (or such other similar or additional statement
then required by the SEC for annual reports filed pursuant to the Exchange Act) for such year, setting forth in each case in comparative form the figures for the previous year, reported on without a “going concern” or like qualification or
exception, or qualification arising out of the scope of the audit (other than any such exception or explanatory paragraph, but not a qualification, that is expressly solely with respect to, or expressly resulting solely from, (i) an upcoming
maturity date under Indebtedness permitted to be incurred under Section 7.2 that is scheduled to occur within one year from the time such audit report is delivered, (ii) any actual or potential inability to satisfy any Financial Covenant
or (iii) the activities, operations, financial results, assets or liabilities of any Unrestricted Subsidiary), by PricewaterhouseCoopers LLP or other independent certified public accountants of nationally recognized standing; and 

  
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 (b) as soon as available, but in any event not later than (i) with respect to the
fiscal quarter of the Company ending March 31, 2019, June 21, 2019, and (ii) with respect to each other fiscal quarter of the Company ending after the Closing Date, 45 days after the end of such fiscal quarter, the unaudited
consolidated or combined, as applicable, balance sheet of the Company and its consolidated or combined, as applicable, Subsidiaries as at the end of such quarter and the related unaudited consolidated or combined, as applicable, statements of income
and of cash flows (or such other or similar or additional statement then required by the SEC for quarterly reports filed pursuant to the Exchange Act) for such quarter and the portion of the fiscal year through the end of such quarter, setting forth
in each case in comparative form the figures for the previous year, certified by a Responsible Officer as fairly presenting in all material respects the financial condition of the Company and its subsidiaries (subject to normal year-end audit adjustments). 
 All such financial statements shall be prepared in reasonable detail and
in accordance in all material respects with GAAP applied consistently throughout the periods reflected therein and with prior periods (except as approved by such accountants or officer, as the case may be, and disclosed therein). 

Financial statements and reports required to be delivered pursuant to this Section 6.1 and Section 6.2(d) shall be deemed to have
been delivered on the date on which (a) such financial statements or reports have been included in the Company’s annual report on Form 10-K or Form 10-Q, as the case may be, as filed with the SEC, and such report has been posted on the SEC
website on the Internet at sec.gov/edaux/searches.htm (or any successor website), on the Company’s IntraLinks site at intralinks.com or on the Company’s website or (b) the Company provides notice to the Administrative Agent (which
notice the Administrative Agent shall promptly provide to the Lenders) that such financial statement or report has been posted at another relevant website identified in such notice and accessible by the Lenders without charge. 

6.2. Certificates; Other Information. Furnish to the Administrative Agent and each Lender: 

(a) simultaneously with the delivery of each set of consolidated financial statements referred to in Section 6.1(a) and
Section 6.1(b) above, the related consolidating financial information (which may be unaudited) reflecting adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such consolidated financial statements; 

(b) within 10 Business Days after the delivery of any financial statements pursuant to Section 6.1, (i) a certificate of a Responsible
Officer stating that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such certificate and (ii) in the case of quarterly or annual financial statements, a Compliance Certificate as of
the last day of the fiscal quarter or fiscal year of the Company, as the case may be (in the case of each Compliance Certificate delivered in connection with annual financial statements, including, from and after the first full fiscal year ending
after the Closing Date, a reasonably detailed calculation of Excess Cash Flow); 
 (c) within 90 days after the end of each fiscal year of
the Company ending after the Closing Date, commencing with the fiscal year of the Company ending in 2020, an operating budget for the next fiscal year of the Borrower in a form as customarily prepared by management of the Borrower for its internal
use or such other form as the Borrower and Administrative Agent may reasonably agree; 
 (d) promptly upon the mailing thereof, copies of all
financial statements and reports (except to the extent previously delivered pursuant to Section 6.1) that the Company sends to the holders of any class of its debt securities or public equity securities and, within five days after the same are
filed, copies of all financial statements and reports that the Company may make to, or file with, the SEC; 
 (e) promptly following any
reasonable request therefor, information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” regulations and anti-money laundering rules and
regulations, including the Patriot Act and the Beneficial Ownership Regulation; 
 (f) promptly, such additional financial information as any
Lender (through the Administrative Agent) may from time to time reasonably request. 

  
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 6.3. Payment of Taxes. Pay, discharge or otherwise satisfy at or before maturity or
before they become delinquent, as the case may be, all Tax obligations, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have
been provided on the books of the Company or its Subsidiaries, as the case may be, or except where such failure would not, in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

6.4. Maintenance of Existence; Compliance. (a) (i) Preserve, renew and keep in full force and effect its corporate or other
organizational existence and (ii) take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of the Business, except, in each case, as otherwise permitted by Section 7.4 and
except, in the case of each of clause (i) (other than with respect to the existence of the Borrowers) and (ii) above, to the extent that failure to do so would not, in the aggregate, reasonably be expected to have a Material Adverse Effect;
(b) comply with all Contractual Obligations and Requirements of Law except to the extent that failure to comply therewith would not, in the aggregate, reasonably be expected to have a Material Adverse Effect and (c) maintain in effect and
apply policies and procedures reasonably designed to ensure compliance in all material respects by the Company, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

6.5. Maintenance of Property; Insurance. (a) Keep all property useful and necessary in its business in good working order and
condition, ordinary wear and tear excepted, except where such failure would not, in the aggregate, reasonably be expected to result in a Material Adverse Effect and (b) maintain with financially sound and reputable insurance companies insurance
on all its property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are customarily insured against in the same general area by companies engaged
in the same or a similar business. 
 6.6. Inspection of Property; Books and Records; Discussions. (a) Keep proper books of
records and accounts in conformity in all material respects with GAAP and (b) permit representatives of the Administrative Agent (which, following the occurrence and during the continuance of an Event of Default, may be accompanied by
representatives of any Lender), upon reasonable prior written notice, to make reasonable visits to and inspections of any of its properties and examine and make abstracts from any of its books and records at any reasonable time and as often as may
reasonably be desired and to discuss the business, operations, properties and financial condition of the Company and its Subsidiaries with officers of the Company and its Subsidiaries; provided that with respect to clause (b), prior to the
occurrence and continuation of an Event of Default, no more than one such visit shall be made per year. 
 6.7. Notices. Promptly give
notice to the Administrative Agent and each Lender of: 
 (a) the occurrence of any Default or Event of Default upon obtaining Knowledge
thereof; 
 (b) any (i) default or event of default under any Contractual Obligation of the Company or any of its Subsidiaries that,
would reasonably be expected to have a Material Adverse Effect or (ii) litigation, investigation or proceeding affecting the Company or any of its Subsidiaries that would reasonably be expected to have a Material Adverse Effect; 

  
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 (c) the following events, as soon as possible and in any event within 30 days after the
Company has Knowledge: (i) the occurrence of any Reportable Event with respect to any Plan, a failure to make any required contribution to a Plan, the creation of any Lien in favor of the PBGC or a Plan or any withdrawal from, or the
termination or Insolvency of, any Multiemployer Plan or (ii) the institution of proceedings or the taking of any other action by the PBGC or the Company or any Commonly Controlled or any Multiemployer Plan with respect to the withdrawal from,
or the termination or Insolvency of, any Plan; provided, that in each case of clauses (i) and (ii), except as would not reasonably be expected to have a Material Adverse Effect; and 

(d) any development or event that has had or would reasonably be expected to have a Material Adverse Effect. 

Each notice pursuant to this Section 6.7 shall be accompanied by a statement of a Responsible Officer setting forth details of the
occurrence referred to therein and stating what action the Company or the relevant Subsidiary proposes to take with respect thereto. 
 6.8.
Environmental Laws. Comply with, and take commercially reasonable steps to ensure compliance in all material respects by all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and comply with and maintain, and
take commercially reasonable steps to ensure that all tenants and subtenants obtain and comply in all material respects with and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental
Laws, except, in each case with respect to this Section 6.8, to the extent the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

6.9. Additional Collateral, etc. Other than during any Suspension Period, 

(a) With respect to any property or rights acquired after the Closing Date by the Company or any of its Subsidiaries that is a Loan Party (or
is required to be a Loan Party pursuant to the terms of this Agreement and the other Loan Documents) (other than any property described in paragraph (b), (c) or (d) below) as to which the Collateral Agent, for the benefit of the Administrative
Agent and the Lenders, does not have a perfected Lien, promptly (and, in any event within 60 days following such acquisition) (i) execute and deliver to the Administrative Agent and the Collateral Agent such amendments to the Collateral
Agreement or such other documents as the Administrative Agent or the Collateral Agent reasonably request to grant to the Collateral Agent, for the benefit of the Administrative Agent and the Lenders, a security interest in such property and
(ii) take all actions as the Administrative Agent or Collateral Agent reasonably request to grant to the Collateral Agent, for the benefit of the Administrative Agent and the Lenders, a perfected first priority security interest in such
property, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Collateral Agreement or by law or as may be reasonably requested by the Administrative Agent or the Collateral Agent. 

(b) With respect to (i) any fee interest in any real property having a value (together with improvements thereof) of at least $30,000,000
acquired after the Closing Date by the Company or any of its Subsidiaries that is a Loan Party (or is required to be a Loan Party pursuant to the terms of this Agreement and the other Loan Documents) and (ii) any real property listed in part
(b) of Schedule 1.1B that becomes a Mortgaged Property pursuant to the definition thereof, promptly (and in any event within 90 days following such acquisition or such real property becoming a Mortgaged Property) deliver the documents required
for Mortgaged Properties pursuant to Section 6.11. Notwithstanding the foregoing, the Collateral Agent shall not enter into any Mortgage in respect of any real property acquired by any Loan Party after the Closing Date until the date that is
(a) if such real property is not located in a “special flood hazard area”, ten (10) Business Days or (b) if such real property is located in a “special flood hazard 

  
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area”, thirty (30) days, after the Administrative Agent has delivered to the Lenders the following documents in respect of such real property: (i) a completed flood hazard
determination from a third party vendor; (ii) if such real property is located in a “special flood hazard area”, (A) a notification to the applicable Loan Parties of that fact and (if applicable) notification to the applicable Loan
Parties that flood insurance coverage is not available and (B) evidence of the receipt by the applicable Loan Parties of such notice; and (iii) if required by Flood Laws, evidence of required flood insurance. 

(c) With respect to any new Subsidiary (other than any Excluded Subsidiary) (which, for the purposes of this paragraph (c), shall include any
existing Subsidiary that ceases to be an Excluded Subsidiary and any Domestic Subsidiary that becomes a Subsidiary Borrower (to the extent not a Loan Party)), promptly (and, in any event (x) within 60 days after the acquisition or formation
thereof or the cessation to be an Excluded Subsidiary or (y) upon effectiveness of such Domestic Subsidiary becoming a Subsidiary Borrower (to the extent not a Loan Party), as the case may be) (i) execute and deliver to the Administrative
Agent and the Collateral Agent such amendments to the Collateral Agreement as the Administrative Agent or the Collateral Agent reasonably request to grant to the Collateral Agent, for the benefit of the Administrative Agent and the Lenders, a
perfected first priority security interest in the Capital Stock of such new Subsidiary that is owned by the Company or any of its Subsidiaries that is a Loan Party (or is required to be a Loan Party pursuant to the terms of this Agreement and the
other Loan Documents), (ii) deliver to the Collateral Agent the certificates representing such Capital Stock, together with undated stock powers, in blank, executed and delivered by a duly authorized officer of the Company or such Subsidiary, as the
case may be, and take such other action as may be required or the Administrative Agent reasonably requests to perfect the Collateral Agent’s security interest therein, (iii) cause such new Subsidiary to become a party to the Guarantee
Agreement and the Collateral Agreement and (iv) if reasonably requested by the Administrative Agent or the Collateral Agent, deliver to the Administrative Agent and the Collateral Agent legal opinions relating to the matters described above,
which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent and the Collateral Agent. 

(d) With respect to any new first-tier Foreign Subsidiary or CFC Holding Company (other than any Excluded Foreign Subsidiary (as defined in the
Collateral Agreement)) of a Loan Party created or acquired after the Closing Date by the Company or any other Loan Party, promptly (and, in any event within 60 days after the creation or acquisition thereof) (i) execute and deliver to the
Administrative Agent and the Collateral Agent such amendments to the Collateral Agreement as the Administrative Agent or the Collateral Agent reasonably request to grant to the Collateral Agent, for the benefit of the Administrative Agent and the
Lenders, a perfected first priority security interest in the Capital Stock of such new Subsidiary (provided that in no event shall more than 65% of the total outstanding Capital Stock of any such new Subsidiary that is a CFC or a CFC Holding Company
be required to be so pledged); provided, further, that no Loan Party shall be obligated to pledge the Capital Stock of a Foreign Subsidiary to the extent such pledge would violate the laws of the jurisdiction of such Foreign Subsidiary’s
organization, (ii) deliver to the Collateral Agent the certificates representing such Capital Stock, together with undated stock powers, in blank, executed and delivered by a duly authorized officer of such Loan Party, as the case may be, and
take such other action as may be necessary or, in the opinion of the Administrative Agent or the Collateral Agent, desirable to perfect the Collateral Agent’s security interest therein and (iii) if reasonably requested by the
Administrative Agent or the Collateral Agent, deliver to the Administrative Agent and the Collateral Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably
satisfactory to the Administrative Agent and the Collateral Agent. 
 (e) In addition, within 60 days of the Closing Date, the Company shall
deliver to the Administrative Agent and the Collateral Agent insurance certificates and endorsements naming the Collateral Agent as additional insured or mortgagee and loss payee under the insurance policies of the Company and its Subsidiaries in
accordance with the Collateral Agreement. 

  
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 (f) For the avoidance of doubt, references in this Section 6.9 to any asset, property,
right or Capital Stock of any Subsidiary created or acquired after the Closing Date do not include Excluded Assets (as defined in the Collateral Agreement). 

(g) The Administrative Agent shall have the right to extend any of the time periods set forth in this Section 6.9 in its reasonable
discretion. 
 (h) Notwithstanding anything to the contrary in any Loan Document, no Loan Party shall be required, nor shall the
Administrative Agent be authorized, (A) to perfect any pledge, security interest or mortgage by any means other than through (x) any filing pursuant to the UCC in the office of the secretary of state (or similar central filing office) of
the relevant State(s) and any filing in any applicable real estate records in the United States with respect to any mortgaged property or any fixture relating to any mortgaged property, (y) any filing in the United States Copyright Office or
the United States Patent and Trademark Office with respect to Intellectual Property or (z) delivery to the Administrative Agent to be held in its possession of all Collateral consisting of stock certificates of the Company and its wholly-owned
pledged subsidiaries and certain instruments with a fair market value in excess of $5,000,000, (B) to enter into any account control agreement or lockbox or similar arrangement with respect to any deposit account, securities account or commodities
account or (C) to take any action in or required by a jurisdiction other than the United States or with respect to any asset located or titled outside of the United States (and there shall be no guarantee, security agreement or pledge agreement
governed by the laws of any such non-U.S. jurisdiction). 
 6.10. Designation of Subsidiaries.
The Company may at any time designate any Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Subsidiary by delivering to the Administrative Agent a certificate of a Responsible Officer of the Company specifying such
designation and certifying that the conditions to such designation set forth in this Section 6.10 are satisfied; provided that: 
 (a)
both immediately before and immediately after any such designation, no Event of Default shall have occurred and be continuing or would result therefrom; 

(b) the Company shall be in Pro Forma Compliance with the Financial Covenants, recomputed as of the last day of the applicable Test Period;

 (c) in the case of a designation of a Subsidiary as an Unrestricted Subsidiary, each subsidiary of such Subsidiary has been, or
concurrently therewith will be, designated as an Unrestricted Subsidiary in accordance with this Section 6.10; and 
 (d) in no event
shall any Subsidiary be designated an Unrestricted Subsidiary if such Subsidiary or any subsidiary of such Subsidiary owns material Intellectual Property. 

The designation of any Subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Company in such Subsidiary on the date of
designation in an amount equal to the fair market value of the Company’s or its Subsidiary’s (as applicable) Investment therein (as determined reasonably and in good faith by a Responsible Officer of the Company). The designation of any
Unrestricted Subsidiary as a Subsidiary shall constitute the incurrence at the time of designation of any Investment, Indebtedness or Liens of such Subsidiary existing at such time. 

  
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 6.11. Post-Closing Real Estate Deliverables. No later than 120 days after the Closing
Date (or such later date selected by the Administrative Agent in its reasonable discretion) the Company shall cause to be delivered to the Administrative Agent and the Collateral Agent: 

(a) Mortgages. A Mortgage encumbering each Mortgaged Property listed on Schedule 1.1B in favor of the Collateral Agent, for the benefit
of the Administrative Agent and the Lenders, duly executed and acknowledged by each Loan Party that is the owner of or holder of any interest in such Mortgaged Property, and otherwise in form for recording in the recording office of each applicable
political subdivision where each such Mortgaged Property is situated, together with such certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof to create a lien under applicable
Requirements of Law, and such financing statements and any other instruments necessary to grant a mortgage lien under the laws of any applicable jurisdiction, all of which shall be in form and substance reasonably satisfactory to Collateral Agent;

 (b) Title Insurance Policies. With respect to each Mortgage, (a) a policy of title insurance (or marked up unconditional title
insurance commitment having the effect of a policy of title insurance) issued by a nationally recognized and financially stable title insurance company reasonably acceptable to the Administrative Agent (the “Title Company”) insuring
the Lien of such Mortgage as a valid first mortgage Lien on the Mortgaged Property in an amount not less than the value of such Mortgaged Property determined in the reasonable opinion of the Company, which policy (or such marked up unconditional
title insurance commitment) (each, a “Title Policy”) shall (x) to the extent necessary, include such co-insurance and reinsurance arrangements (with provisions for direct access, if
necessary) as shall be reasonably acceptable to the Administrative Agent, (y) have been supplemented by such endorsements as shall be reasonably requested by the Administrative Agent, and (z) contain no exceptions to title other than Liens
permitted pursuant to Section 7.3; (b) evidence reasonably acceptable to the Collateral Agent of payment by Borrower of all Title Policy premiums, search and examination charges, escrow charges and related charges, mortgage recording taxes,
fees, charges, costs and expenses required for the recording of the Mortgages and issuance of the Title Policies; and (c) such affidavits, certificates, information (including financial data) and instruments of indemnification (including a so-called “gap” indemnification) as shall be required to induce the Title Company to issue the Title Policies and endorsements; 

(c) Surveys. A survey of the applicable Mortgaged Property for which all necessary fees (where applicable) have been paid
(a) prepared by a surveyor reasonably acceptable to the Collateral Agent, (b) dated or re-certificated not earlier than three months prior to the date of such delivery or such other date as may be
reasonably satisfactory to the Administrative Agent in its sole discretion, (c) for Mortgaged Property situated in the United States, certified to the Collateral Agent, and the Title Company, which certification shall be reasonably acceptable
to the Collateral Agent and (d) in such form as shall be required by the title company to issue the so-called comprehensive and other survey-related endorsements and to remove the standard survey
exceptions from the Title Policies and endorsements provided, however, that a survey shall not be required to the extent that (x) an existing survey together with an “affidavit of no change” is delivered to the Collateral Agent and
the Title Company and (y) the Title Policy for such Mortgaged Property does not contain the standard survey exception and includes customary survey related endorsements and other coverages in the applicable Title Policy (including, but not
limited to public road access, survey, contiguity and so-called comprehensive coverage); 
 (d)
Opinions. Favorable written opinions, addressed to the Administrative Agent, the Collateral Agent and the Lenders, of local counsel to the Loan Parties in each jurisdiction (i) where a Mortgaged Property is located and (ii) where
the applicable Loan Party granting the Mortgage on said Mortgaged Property is organized, regarding the due authority, execution, delivery, perfection and enforceability of each such Mortgage, the corporate formation, existence and good standing of
the applicable Loan Party, and such other matters as may be reasonably requested by the Administrative Agent, each in form and substance reasonably satisfactory to the Collateral Agent; 

  
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 (e) Flood Insurance. (a) “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property; and (b) in the event any such property is located in an area
identified by the Federal Emergency Management Agency (or any successor agency) as a “special flood hazard area,” (x) a notice about special flood hazard area status and flood disaster assistance, duly executed by the Company,
(y) evidence of flood insurance with a financially sounds and reputable insurer, naming the Collateral Agent, as mortgagee, in an amount and otherwise in form and substance reasonably satisfactory to the Collateral Agent, and (z) evidence
of the payment of premiums in respect thereof in form and substance reasonably satisfactory to the Collateral Agent (provided that, notwithstanding the foregoing, the Collateral Agent shall not enter into any Mortgage in respect of any Mortgaged
Property listed on Schedule 1.1B until the date that is (a) if such real property is not located in a “special flood hazard area”, ten (10) Business Days or (b) if such real property is located in a “special flood
hazard area”, one hundred twenty (120 days, after the Collateral Agent has delivered to the Lenders the following documents in respect of such real property: (i) a completed flood hazard determination from a third party vendor;
(ii) if such real property is located in a “special flood hazard area”, (A) a notification to the applicable Loan Parties of that fact and (if applicable) notification to the applicable Loan Parties that flood insurance coverage is
not available and (B) evidence of the receipt by the applicable Loan Parties of such notice; and (iii) if required by Flood Laws, evidence of required flood insurance); and 

6.12. Post-Closing Obligations. The Company and each applicable Loan Party shall comply with each requirement set forth on Schedule 6.12
on or before the date specified for such requirement (or such later date as the Administrative Agent may agree in its reasonable discretion). 

6.13. Maintenance of Ratings. The Company will use commercially reasonable efforts to maintain in effect a corporate rating (but not any
specific rating) from S&P and a corporate family rating from Moody’s, in each case in respect of the Company, and a rating of the credit facilities hereunder by each of S&P and Moody’s. 

SECTION 7. NEGATIVE COVENANTS 
 From and
after the Closing Date, the Company hereby agrees that, so long as the Commitments remain in effect, any Letter of Credit remains outstanding or any Loan or other amount is due and owing to any Lender or the Administrative Agent hereunder, the
Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly: 
 7.1. Financial Condition Covenants.

 (a) Total Leverage Ratio. Permit the Total Leverage Ratio as at the last day of any Test Period to exceed 4.00 to 1.00, commencing
with the Test Period for which the last fiscal quarter is the first full fiscal quarter ending after the Closing Date. Notwithstanding the foregoing, at the written election of the Company not later than the date on which financial statements are
required to be delivered pursuant to Section 6.1 in respect of the fiscal period in which a Material Acquisition is consummated, for each of the four succeeding four-fiscal quarter periods ending immediately following the consummation of such
Material Acquisition (including the first Test Period ending after the consummation of such Material Acquisition) (the “Increased Test Periods”), the applicable Total Leverage Ratio level for purposes of this Section 7.1(a)
shall not exceed 4.50 to 1.00; provided, however, that, (1) the Total Leverage Ratio as at the last day of each of the two four-fiscal quarter periods immediately succeeding the last Increased Test Period shall be equal to or less than 4.00 to
1.00 (irrespective of whether any other Material Acquisition has been consummated during such period) and (2) the Company may make only two such elections during the term of this Agreement. 

  
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 (b) Consolidated Interest Coverage Ratio. Solely with respect to the Revolving
Facility and the Tranche A Term Facility, permit the Consolidated Interest Coverage Ratio as of the last day of any Test Period to be less than 3.00 to 1.00, commencing with the Test Period for which the last fiscal quarter is the first full fiscal
quarter ending after the Closing Date. 
 7.2. Indebtedness. Create, issue, incur, assume, become liable in respect of or suffer to
exist any Indebtedness, except: 
 (a) Indebtedness of any Loan Party pursuant to any Loan Document; 

(b) Indebtedness of the Company to any of its Subsidiaries and of any Subsidiary to the Company or any other Subsidiary of the Company;
provided that any Indebtedness of any Subsidiary that is not a Domestic Loan Party to the Company or to any of its Subsidiaries that are Domestic Loan Parties is permitted pursuant to Section 7.8 (other than Sections 7.8(c)(i) and
7.8(ff)); 
 (c) [reserved]; 

(d) Indebtedness existing on the Closing Date (or which may have been incurred pursuant to commitments existing on the Closing Date) listed, to
the extent in excess of $2,500,000 on Schedule 7.2(d) and any Permitted Refinancing in respect thereof; 
 (e) Indebtedness (including
Capital Lease Obligations) secured by Liens permitted by Section 7.3(i) in an aggregate principal amount not to exceed the greater of (x) $50,000,000 and (y) 12.5% of Consolidated EBITDA for the most recently ended Test Period; 

(f) (i) Indebtedness of any Subsidiary located in China in an aggregate principal amount not to exceed $50,000,000 and (ii) Indebtedness
of any Subsidiary located in India in an aggregate principal amount not to exceed $25,000,000; 
 (g) Hedge Agreements as long as such
agreements are not entered into for speculative purposes; 
 (h) Incremental Equivalent Debt and any Permitted Refinancing in respect
thereof; 
 (i) [reserved]; 

(j) (i) additional Indebtedness of the Company or any of its Subsidiaries in an aggregate principal amount (for all incurrences by the Company
and all Subsidiaries pursuant to this clause (j)) which when incurred does not exceed the greater of (x) $150,000,000 and (y) 37.5% of Consolidated EBITDA for the most recently ended Test Period and (ii) any Permitted Refinancing in respect
thereof; 
 (k) Capital Lease Obligations arising from Permitted Sale/Leasebacks; 

(l) (i) Indebtedness of the Company or any Subsidiary (“Ratio Debt”) in an aggregate principal amount not to exceed
(A) the Shared Incremental Amount plus (B) an unlimited amount so long as, in the case of this clause (i)(B), on the date of incurrence thereof on a Pro Forma Basis after giving effect to the incurrence of such Ratio Debt and the
application of the proceeds thereof (without netting the cash proceeds thereof) and to any relevant Specified Transaction, (i) if such Indebtedness is secured by a 

  
 111 

 
Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations, the First Lien Leverage Ratio does not exceed 2.75 to 1.00, (ii)
if such Indebtedness is secured by a Lien on the Collateral that is junior to the Liens securing the Obligations, the Senior Secured Leverage Ratio does not exceed 3.25 to 1.00 and (iii) if such Indebtedness is unsecured or, in the case of
Ratio Debt incurred by any Foreign Subsidiary, is secured by a Lien on assets or property of Foreign Subsidiaries, the Company is in compliance with the Financial Covenants; provided that (i) the requirement set forth in the provisos to
Section 2.27(a)(v) (solely with respect to any Ratio Debt in the form of syndicated U.S. Dollar-denominated term loans consisting of a tranche B term facility (i.e., a term loan facility with a tenor of seven years or longer with nominal
amortization) secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations incurred on or prior to the date that is 12 months after the Closing Date) and Sections
2.27(a)(vi) and (vii) (except with respect to any Ratio Debt consisting of a customary bridge facility so long as, subject to customary conditions, such bridge facility automatically converts into long-term debt satisfying the requirements set forth
in Sections 2.27(a)(vi) and (vii)), as applicable, shall apply mutatis mutandis as if such Ratio Debt were Incremental Facilities and (ii) the aggregate amount of Indebtedness incurred by Subsidiaries that are not Domestic Loan Parties under
this clause (l), together with the aggregate amount of Incurred Acquisition Debt incurred by Subsidiaries that are not Domestic Loan Parties, shall not exceed the greater of (x) $100,000,000 and (y) 25% of Consolidated EBITDA for the most recently
ended Test Period and (ii) any Permitted Refinancing thereof; 
 (m) Indebtedness in respect of Cash Management Obligations, including
Cash Pooling Agreements, or guarantees thereof, including the guarantee set forth in the Guarantee Agreement; 
 (n) (i) additional
Indebtedness of Subsidiaries that are not Domestic Loan Parties in an aggregate principal amount not to exceed the greater of (x) $100,000,000 and (y) 25% of Consolidated EBITDA for the most recently ended Test Period and (ii) any Permitted
Refinancing thereof; 
 (o) Guarantee Obligations by the Company of Indebtedness otherwise permitted hereunder of any Subsidiary and by any
Subsidiary of Indebtedness otherwise permitted hereunder of the Company or any other Subsidiary; provided that any guarantee by any Domestic Loan Party of any Indebtedness of any Subsidiary that is not a Domestic Loan Party is permitted pursuant to
Section 7.8 (other than Sections 7.8(c)(i) and 7.8(ff)); 
 (p) (i) Indebtedness incurred in connection with any acquisition or
other Investment permitted hereunder (“Incurred Acquisition Debt”) in an amount not to exceed (A) the Shared Incremental Amount plus (B) an unlimited amount so long as, in the case of this clause (i)(B), on the date of
incurrence thereof on a Pro Forma Basis after giving effect to the incurrence of such Incurred Acquisition Debt and the application of the proceeds thereof (without netting the cash proceeds thereof) and to any relevant Specified Transaction,
(i) if such Indebtedness is secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations, the First Lien Leverage Ratio does not exceed the greater of (x) 2.75 to
1.00 and (y) the First Lien Leverage Ratio as of the last day of the most recently ended Test Period, (ii) if such Indebtedness is secured by a Lien on the Collateral that is junior to the Liens securing the Obligations, the Senior Secured
Leverage Ratio does not exceed the greater of (x) 3.25 to 1.00 and (y) the Senior Secured Leverage Ratio as of the last day of the most recently ended Test Period and (iii) if such Indebtedness is unsecured or, in the case of Incurred
Acquisition Debt incurred by any Foreign Subsidiary, is secured by a Lien on assets or property of Foreign Subsidiaries, either (x) the Company is in compliance with the Financial Covenants or (y) the Total Leverage Ratio does not exceed
the Total Leverage Ratio as of the last day of the most recently ended Test Period and the Consolidated Interest Coverage Ratio is no less than the Consolidated Interest Coverage Ratio as of the last day of the most recently ended Test Period;
provided that (i) the requirement set forth in the provisos to Section 2.27(a)(v) (solely with respect to any Incurred 

  
 112 

 
Acquisition Debt in the form of syndicated U.S. Dollar-denominated term loans consisting of a tranche B term facility (i.e., a term loan facility with a tenor of seven years or longer with
nominal amortization) secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations incurred on or prior to the date that is 12 months after the Closing Date) and
Sections 2.27(a)(vi) and (vii) (except with respect to any Incurred Acquisition Debt consisting of a customary bridge facility so long as, subject to customary conditions, such bridge facility automatically converts into long-term debt satisfying
the requirements set forth in Sections 2.27(a)(vi) and (vii)), as applicable shall apply mutatis mutandis as if such Incurred Acquisition Debt were Incremental Facilities and (ii) the aggregate amount of Indebtedness incurred by Subsidiaries
that are not Domestic Loan Parties under this clause (p), together with the aggregate amount of Ratio Debt incurred by Subsidiaries that are not Domestic Loan Parties, shall not exceed the greater of (x) $100,000,000 and (y) 25% of Consolidated
EBITDA for the most recently ended Test Period and (ii) any Permitted Refinancing thereof; 
 (q) Indebtedness under a Permitted
Receivables Financing or Supply Chain Financing; 
 (r) to the extent constituting Indebtedness, obligations (including reimbursement
obligations with respect to guaranties, letters of credit or other similar obligations) in respect of tenders, statutory obligations, leases, governmental contracts, stay, performance bid, customs, appeal and surety bonds and performance and/or
return of money bonds and completion guarantees or other obligations of a like nature issued for the account of, or provided by, the Company and its Subsidiaries in the ordinary course of business; 

(s) Indebtedness incurred by a Special Purpose Finance Subsidiary; 

(t) Credit Agreement Refinancing Indebtedness (including successive Permitted Refinancings thereof) and Guarantee Obligations by the Guarantors
in respect thereof; 
 (u) Indebtedness arising from agreements providing for indemnification, purchase price adjustments or similar
obligations incurred by the Company or its Subsidiaries in connection with any acquisition or Disposition in each case permitted by this Agreement; 

(v) Indebtedness consisting of obligations of the Company or any Subsidiary under deferred compensation (e.g., earn-outs, indemnifications,
incentive non-competes and other contingent or deferred obligations) or other similar arrangements incurred by such Person in connection with the Transactions, or any acquisition or other Investment in each
case permitted under Section 7.8 (other than Section 7.8(ff)); 
 (w) Indebtedness of a Person which becomes a Subsidiary or is
merged into any Subsidiary after the Closing Date in each case to the extent such acquisition or merger is permitted under this Agreement; provided that (i) such Indebtedness was in existence on the date such Person became a Subsidiary of, or
merged into, such Subsidiary, (ii) such Indebtedness was not created in contemplation of such Person becoming a Subsidiary, (iii) such Indebtedness is not guaranteed in any respect by or secured by the assets of the Company or any of its
Subsidiaries (other than by any such person that so becomes a Subsidiary) and (iv) immediately after giving effect to the acquisition of or merger with such Person by such Subsidiary, no Event of Default shall have occurred and be continuing;

 (x) Indebtedness incurred by the Company or its Subsidiaries in respect of banker’s acceptances, bank guarantees, letters of credit,
warehouse receipts or similar instruments entered into in the ordinary course of business, including in respect of workers compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or
self-insurance, or other Indebtedness with respect to reimbursement type obligations regarding workers compensation claims, in each case in the ordinary course of business or consistent with past practice; 

  
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 (y) Indebtedness consisting of (i) the financing of insurance premiums, (ii) take-or-pay obligations contained in supply arrangements, (iii) obligations to reacquire assets or inventory in connection with customer financing arrangements
or (iv) obligations owing under supply, customer, distribution, license, lease or similar agreements, in each case with respect to clauses (i) through (iv), entered into in the ordinary course of business; 

(z) Indebtedness supported by a letter of credit issued by any Person (other than the Company or any of its Affiliates) for the account of the
Company or any of its Subsidiaries pursuant to another clause of this Section 7.2, the availability of which is subject to a stated quantum in a principal amount not in excess of the stated amount of such letter of credit; 

(aa) Indebtedness related to any letter of credit issued in the ordinary course of business or created by or for the account of the Company or
any of its Subsidiaries other than pursuant to this Agreement, in an aggregate principal amount not in excess of $35,000,000 at any time; 

(bb) Indebtedness incurred in the ordinary course of business or consistent with past practice under travel and expense cards, corporate
purchasing cards and car leasing programs, and Guarantee Obligations of the Company and its Subsidiaries with respect to any such Indebtedness; 

(cc) Indebtedness of the Company or any Subsidiary as an account party in respect of trade letters of credit issued in the ordinary course of
business; 
 (dd) Indebtedness (other than debt for borrowed money) of any Borrower and/or any Subsidiary consisting of obligations owing
under incentive, supply, license or similar agreements entered into in the ordinary course of business or consistent with past practice; 

(ee) endorsement of instruments or other payment items for collection or deposit in the ordinary course of business or consistent with past
practice; 
 (ff) [reserved]; 

(gg) unfunded pension fund and other employee benefit plan obligations and liabilities incurred by any Borrower and/or any Subsidiary in the
ordinary course of business or consistent with past practice to the extent that the unfunded amounts would not otherwise cause an Event of Default under Section 8(g); 

(hh) customer deposits and advance payments received in the ordinary course of business or consistent with past practice from customers for
goods and services purchased in the ordinary course of business; 
 (ii) obligations in respect of letters of support, guarantees or similar
obligations issued, made or incurred for the benefit of any subsidiary of any Borrower to the extent required by law or in connection with any statutory filing or the delivery of audit opinions performed in jurisdictions other than within the United
States; and 
 (jj) all premiums, interest (including post-petition interest), fees, expenses, charges and additional or contingent interest
on obligations described in this Section 7.2. 

  
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 7.3. Liens. Create, incur, assume or suffer to exist any Lien upon any of its
property, whether now owned or hereafter acquired, except for: 
 (a) Liens for taxes not yet due or that are being contested in good faith
by appropriate proceedings; provided that adequate reserves with respect thereto are maintained on the books of any Loan Party or any Excluded Subsidiary, as the case may be, in conformity with GAAP or in the case of a Subsidiary located outside of
the United States, general accounting principles in effect from time to time in its jurisdiction of incorporation; 
 (b) statutory liens of
landlords and carriers, warehousemen, mechanics, materialmen, repairmen or other like Liens arising in the ordinary course of business that are not overdue for a period of more than 60 days or that are being contested in good faith by appropriate
proceedings; 
 (c) pledges or deposits in connection with workers’ compensation, unemployment insurance and other social security
legislation; 
 (d) deposits to secure the performance of bids, trade contracts (other than for borrowed money), leases, statutory
obligations, governmental contracts, customs, stay, surety and appeal bonds, performance and/or return of money bonds and completion guarantees or other obligations of a like nature (including those to secure health, safety and environmental
obligations) incurred in the ordinary course of business; 
 (e) easements,
rights-of-way, restrictions and other similar encumbrances that are or would be reflected on a survey or by inspection of any real property or that, in the aggregate,
are not substantial in amount and that do not in the aggregate materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the Company or any of its Subsidiaries taken as a
whole; 
 (f) (i) Liens in existence on the Closing Date, to the extent the obligations secured by such Liens are in excess of $2,500,000,
listed on Schedule 7.3(f) securing Indebtedness permitted by Section 7.2(d) or other obligations not prohibited hereunder and (ii) Liens replacing the Liens set forth on Schedule 7.3(f) securing a refinancing, refunding, renewal or
extension of Indebtedness that is permitted pursuant to Section 7.2(d) or such other obligations; provided that no such Lien is spread to cover any additional property after the Closing Date unless otherwise permitted by another provision of
this Section 7.3 (in which case, for the avoidance of doubt, such Lien covering any additional property shall be incurred in reliance on such other provision of this Section 7.3) and that the amount of Indebtedness or such other obligation
secured thereby is not increased; 
 (g) Liens on the Collateral to secure Indebtedness permitted under Sections 7.2(l) or 7.2(p);
provided that an Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to (i) if such Indebtedness is secured by a Lien on the Collateral that is pari passu (but without regard to the
control of remedies) with the Liens securing the Obligations, a First Lien Intercreditor Agreement as a “Senior Representative” (or similar term, in each case, to be defined in the First Lien Intercreditor Agreement) or (ii) if such
Indebtedness is secured by the Collateral that is junior to the Liens securing the Obligations, a Junior Lien Intercreditor Agreement as a “Junior Priority Representative” (or similar term, in each case, to be defined in the Junior Lien
Intercreditor Agreement); 
 (h) Liens arising solely by virtue of any contractual, statutory or common law provisions related to
banker’s liens, rights of set-off or similar rights and remedies as to deposit accounts and securities accounts; 

  
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 (i) Liens securing Indebtedness of the Company or any Subsidiary incurred pursuant to
Section 7.2(e) to finance the acquisition of fixed or capital assets; provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness (other than after-acquired property that is
affixed or incorporated into the property covered by such Lien or financed by Indebtedness permitted under Section 7.2(e)) and (ii) the amount of Indebtedness secured thereby is not increased; 

(j) Liens created pursuant to the Security Documents; 

(k) Liens consisting of judgment or judicial attachment Liens and Liens securing contingent obligations on appeal and other bonds in connection
with court proceedings, settlements or judgments; provided that (i) such Liens would not result in the occurrence of an Event of Default hereunder and (ii) such Liens are being contested in good faith by appropriate proceedings; 

(l) Liens consisting of any (i) interest or title of a lessor, sub-lessor, licensor or sub-licensor under any lease, license or similar arrangement of real estate or other property (including intellectual property) permitted hereunder, (ii) landlord lien arising by law or permitted by the terms
of any lease, sub-lease, license, sub-license or similar arrangement, (iii) restriction or encumbrance to which the interest or title of such lessor, sub-lessor, licensor or sub-licensor may be subject, (iv) subordination of the interest of the lessee, sub-lessee, licensee or sub-licensee under such lease, sub-lease, license, sub-license or similar arrangement to any restriction or encumbrance referred to in
the preceding clause (iii) or (v) deposit of cash with the owner or lessor of premises leased and operated by any Borrower or any Subsidiary in the ordinary course of business or consistent with past practice to secure the performance of
obligations under the terms of the lease for such premises; 
 (m) Liens on assets subject to a Permitted Receivables Financing securing such
Permitted Receivables Financing; 
 (n) additional Liens so long as the aggregate outstanding principal amount of the obligations secured
thereby at the time such Lien is incurred does not exceed the greater of (x) $150,000,000 and (y) 37.5% of Consolidated EBITDA for the most recently ended Test Period; 

(o) Liens on the Collateral securing Incremental Equivalent Debt; provided that an Other Debt Representative acting on behalf of the
holders of such Indebtedness shall have become party to (i) if such Indebtedness by secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations, a First Lien
Intercreditor Agreement as a “Senior Representative” (or similar term, in each case, to be defined in the First Lien Intercreditor Agreement) or (ii) if such Indebtedness is secured by a Lien on the Collateral that is junior to the
Liens securing the Obligations, a Junior Lien Intercreditor Agreement as a “Junior Priority Representative” (or similar term, in each case, to be defined in the Junior Lien Intercreditor Agreement); 

(p) Liens on cash, Cash Equivalents, deposit accounts and similar items of (i) Foreign Subsidiaries securing Cash Management Obligations
of Foreign Subsidiaries, including obligations of Foreign Subsidiaries in respect of any Cash Pooling Agreement, and guarantees by any Foreign Subsidiary of such Cash Management Obligations of other Foreign Subsidiaries or such similar obligations
of other Foreign Subsidiaries or (ii) Subsidiaries securing obligations in respect of the Existing Pooling Agreement; 
 (q) Liens on
assets and Capital Stock of Subsidiaries that are not Loan Parties (including Capital Stock owned by such Persons) securing Indebtedness or other obligations of Subsidiaries that are not Loan Parties permitted pursuant to Section 7.2 (or not
prohibited under this Agreement); 

  
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 (r) Liens on Company Stock; 

(s) Liens on assets of a Special Purpose Finance Subsidiary to secure Indebtedness incurred by such Special Purpose Finance Subsidiary; 

(t) matters expressly listed as exceptions to title or subordinate matters in the Administrative Agent’s title insurance policies for such
Mortgaged Properties; 
 (u) Liens on the Collateral securing obligations in respect of Credit Agreement Refinancing Indebtedness and any
Permitted Refinancing in respect thereof, and any Guarantee Obligations by the Guarantors in respect thereof; provided that an Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to
(i) if such Indebtedness is secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations, a First Lien Intercreditor Agreement as a “Senior
Representative” (or similar term, in each case, to be defined in the First Lien Intercreditor Agreement) or (ii) if such Indebtedness is secured by a Lien on the Collateral that is junior to the Liens securing the Obligations, a Junior
Lien Intercreditor Agreement as a “Junior Priority Representative” (or similar term, in each case, to be defined in the Junior Lien Intercreditor Agreement); 

(v) Liens (i) in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection
with the importation of goods in the ordinary course of business or consistent with past practice or (ii) on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in respect of
bankers’ acceptances or letters of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods in the ordinary course of business; 

(w) Liens (i) on cash or Cash Equivalents advanced in favor of the seller of any property to be acquired in an Investment permitted
pursuant to Section 7.8 to be applied against the purchase price for such Investment or (ii) consisting of an agreement to Dispose of any property in a Disposition permitted under Section 7.5 (or, to dispose of any property in a
transaction not constituting a Disposition hereunder to the extent such transaction is otherwise permitted under this Agreement); 
 (x)
Liens on property or assets acquired by a Loan Party or on property or assets of any Person which becomes a Subsidiary of a Loan Party, in any such case existing at the time of the acquisition thereof (including acquisition through merger or
consolidation) and not incurred in contemplation of such acquisition; 
 (y) Liens arising on any real property as a result of any eminent
domain, condemnation or similar proceeding being commenced with respect to such real property; 
 (z) (i) Liens on the Capital Stock of a
Joint Venture securing obligations of such Joint Venture that are otherwise permitted under this Agreement and (ii) customary options, put and call arrangements, rights of first refusal and similar rights relating to such Joint Venture under
its joint venture agreement; 
 (aa) (i) deposits made or other security provided to secure liabilities to insurance brokers, insurance
carriers under insurance or self- insurance arrangements in the ordinary course of business or consistent with past practice and (ii) Liens on insurance policies and the proceeds thereof securing the financing of insurance premiums with respect
thereto to the extent permitted hereunder; 
 (bb) [reserved]; 

  
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 (cc) (i) Liens that are contractual rights of
set-off or netting or pledge relating to (A) the establishment of depositary relations with banks or other financial institutions not granted in connection with the issuance of Indebtedness,
(B) pooled deposit or sweep accounts of any Borrower and/or any Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business or consistent with past practice of any Borrower and/or any
Subsidiary, (C) purchase orders and other agreements entered into with customers of any Borrower and/or any Subsidiary in the ordinary course of business or consistent with past practice and (D) commodity trading or other brokerage
accounts incurred in the ordinary course of business, (ii) Liens encumbering reasonable customary initial deposits and margin deposits, (iii) bankers Liens and rights and remedies as to deposit accounts or similar accounts, (iv) Liens
of a collection bank arising under Section 4-208 or Section 4-210 of the UCC (or any similar Requirement of Law of any jurisdiction) on items in the ordinary course of business, (v) Liens (including rights of set-off) in favor of banking or other financial institutions arising as a matter of law or under customary general terms and conditions encumbering deposits or other funds maintained with a financial institution and
that are within the general parameters customary in the banking industry or arising pursuant to such banking institution’s general terms and conditions and (vi) Liens on the proceeds of any Indebtedness permitted hereunder incurred in
connection with any transaction permitted hereunder, which proceeds have been deposited into an escrow account on customary terms to secure such Indebtedness pending the application of such proceeds to finance such transaction or on cash or Cash
Equivalents set aside at the time of the incurrence of such Indebtedness to the extent such cash or Cash Equivalents prefund the payment of interest or fees on such Indebtedness and are held in escrow pending application for such purpose; 

(dd) Liens in favor of any Governmental Authority to secure progress, advance or other payments pursuant to any contract or provision of any
statute; 
 (ee) Liens in connection with a Permitted Sale/Leaseback; provided that any such Lien shall encumber only the property interest
subject to such Permitted Sale/Leaseback; and 
 (ff) Liens securing obligations (other than obligations representing Indebtedness for
borrowed money) under operating, reciprocal easement or similar agreements entered into in the ordinary course of business or consistent with past practice of any Borrower and/or their Subsidiaries; 

(gg) Liens on securities or other assets that are the subject of repurchase agreements constituting Investments permitted under
Section 7.8 arising out of such repurchase transaction; 
 (hh) Liens securing obligations in respect of letters of credit, bank
guaranties, surety bonds, performance bonds or similar instruments permitted under Sections 7.2(r) and (x); 
 (ii) Liens arising
(i) out of conditional sale, title retention, consignment or similar arrangements for the sale of any assets or property and bailee arrangements in the ordinary course of business and permitted by this Agreement or (ii) by operation of law
under Article 2 of the UCC (or any similar Requirement of Law of any jurisdiction); 
 (jj) Liens (i) in favor of any Domestic Loan
Party and/or (ii) granted by any Subsidiary that is not a Domestic Loan Party in favor of any Subsidiary that is not a Domestic Loan Party, in the case of each of clauses (i) and (ii), securing intercompany Indebtedness permitted under
Section 7.2 or Section 7.8 or securing other intercompany obligations not prohibited hereunder; 
 (kk) Liens on cash or Cash
Equivalents arising in connection with the defeasance, discharge or redemption of Indebtedness; 

  
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 (ll) undetermined or inchoate Liens, rights of distress and charges incidental to current
operations that have not at such time been filed or exercised, or which relate to obligations not due or payable or, if due, the validity of such Liens are being contested in good faith by appropriate actions diligently conducted, if adequate
reserves with respect thereto are maintained on the books of such Person in accordance with GAAP; 
 (mm) [reserved]; 

(nn) security given to a public or private utility or any Governmental Authority as required in the ordinary course of business; 

(oo) receipt of progress payments and advances from customers in the ordinary course of business or consistent with past practice to the extent
the same creates a Lien on the related inventory and proceeds; 
 (pp) Liens on property or assets of Subsidiaries that are not Domestic Loan
Parties securing Indebtedness of Subsidiaries that are not Domestic Loan Parties incurred pursuant to Section 7.2(n); 
 (qq) Liens in
the nature of the right of setoff in favor of counterparties to contractual agreements with any Borrower or any Subsidiary in the ordinary course of business; and 

(rr) Liens arising solely in connection with rights of dissenting equity holders pursuant to any Requirement of Law in respect of any
acquisition or other similar Investment permitted hereunder. 
 7.4. Fundamental Changes. Enter into any merger, consolidation or
amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution) or Dispose of all or substantially all of its property or business, except that: 

(a) (i) any Subsidiary of the Company may be merged or consolidated with or into the Company (provided that the Company shall be the continuing
or surviving corporation) or with or into any Guarantor or any Subsidiary Borrower (provided that (x) if any such transaction is between a Guarantor and a Subsidiary that is not a Guarantor or, such Guarantor shall be the continuing or
surviving entity and (y) if any such transaction is between a Subsidiary Borrower and any Subsidiary that is not a Subsidiary Borrower, such Subsidiary Borrower shall be the continuing or surviving entity) and (ii) any Subsidiary that is
not a Guarantor may be merged with or into any other Subsidiary (provided that, (w) if any such transaction is between a Domestic Subsidiary and a Foreign Subsidiary that is not a Foreign Subsidiary Borrower, such Domestic Subsidiary shall be
the continuing or surviving entity except to the extent permitted under Section 7.8, (x) if any such transaction is between a Foreign Subsidiary Borrower and a Foreign Subsidiary that is not a Foreign Subsidiary Borrower, such Foreign
Subsidiary Borrower shall be the continuing or surviving entity and (y) if such transaction is between a Foreign Subsidiary Borrower and a Domestic Subsidiary Borrower, such Domestic Subsidiary Borrower shall be the continuing or surviving
entity; 
 (b) (i) any Subsidiary of the Company may Dispose of all or substantially all of its assets (upon voluntary liquidation or
otherwise) to the Company or any Guarantor, (ii) any Foreign Subsidiary (other than any Foreign Subsidiary Borrower) may Dispose of all or substantially all of its assets upon voluntary liquidation or otherwise to any other Subsidiary and
(iii) any Subsidiary of the Company may Dispose of all or substantially all of its assets pursuant to a Disposition permitted by Section 7.5 (other than pursuant to Section 7.5(c)); provided that, for the avoidance of doubt, any
Subsidiary of the Company that only holds Capital Stock of other Subsidiaries of the Company (a “Subsidiary Holding Company”) may consummate any sale of all or substantially all of its assets that would be permitted under this
Section 7.4(b) with respect each such Subsidiary or Subsidiaries held by such Subsidiary Holding Company; and 

  
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 (c) any Subsidiary (other than a Subsidiary Borrower) may be liquidated as long as the
proceeds of such liquidation (after satisfying all Contractual Obligations of such Subsidiary) are distributed to the holders of the Capital Stock of such Subsidiary on an approximately ratable basis (based on their respective equity ownership
interests in such Subsidiary). 
 7.5. Disposition of Property. Dispose of any of its property or rights, whether now owned or
hereafter acquired, except: 
 (a) the Disposition of unnecessary, obsolete or worn out property ; 

(b) the sale of inventory or goods held for sale in the ordinary course of business; 

(c) Dispositions permitted by Section 7.4(b), and Dispositions to effect Restricted Payments and Investments permitted pursuant to
Section 7.6 (other than Section 7.6(k)) or 7.8 (other than Section 7.8(z) and (ff)), respectively; provided that no Subsidiary may make a Disposition of any material Intellectual Property to any Unrestricted Subsidiary pursuant to
this Section 7.5(c) unless such Disposition is to effect an Investment permitted pursuant to Section 7.8(ee); 
 (d) non-exclusive licensing or sublicensing of Intellectual Property in the ordinary course of business; 
 (e)
any Permitted Receivables Financing or Supply Chain Financing; 
 (f) Dispositions listed and described, to the extent in excess of
$2,500,000, on Schedule 7.5 as in effect on the Closing Date; 
 (g) any Disposition of assets (i) from one Domestic Loan Party to
another Domestic Loan Party, (ii) from a Subsidiary to a Domestic Loan Party or (iii) from one Subsidiary that is not a Domestic Loan Party to another Subsidiary that is not a Domestic Loan Party; 

(h) the Disposition of other property not described in clauses (a)-(g) above or (i)-(hh) below for not less than fair market value as long as
at least 75% of the consideration consists of cash and cash equivalents (provided that such minimum cash/cash equivalent requirement shall not apply to any Disposition or series of related Dispositions of property having a fair market value of
$10,000,000 or less) (provided that for purposes of such minimum cash/cash equivalent requirement, (v) the amount of any Indebtedness or other liabilities (other than Indebtedness or other liabilities that are subordinated to the
Obligations or that are owed to the Company or any Subsidiary) of the Company or any Subsidiary (as shown on such Person’s most recent balance sheet (or in the notes thereto), or if the incurrence of such Indebtedness or other liability took
place after the date of such balance sheet, that would have been shown on such balance sheet or in the notes thereto, as determined in good faith by the Company) that are (i) assumed by the transferee of any such assets and for which the
Company and/or its applicable Subsidiary have been validly released by all relevant creditors in writing or (ii) otherwise cancelled or terminated in connection with such Disposition, (w) the amount of any
trade-in value applied to the purchase price of any replacement assets acquired in connection with such Disposition, (x) any securities or other obligations or assets received by the Company or any
Subsidiary from such transferee (including earn-outs or similar obligations) that are converted by such Person into cash or Cash Equivalents, or by their terms are required to be satisfied for cash or Cash Equivalents (to the extent of the cash or
cash equivalents received) within 180 days following the closing of the applicable Disposition and (y) any Designated Non-Cash Consideration received in respect of such Disposition having an aggregate
fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this clause (h) that is at that time outstanding, not in excess of the greater of $50,000,000
and 12.50% of Consolidated EBITDA as of the last day of the most recently ended Test Period); 

  
 120 

 (i) the Company or any of its Subsidiaries may transfer or contribute ownership of the
Capital Stock of any Foreign Subsidiary or Joint Venture or the assets of any Foreign Subsidiary or Joint Venture to the Company or a Subsidiary of the Company; 

(j) Dispositions of cash and/or Cash Equivalents or other assets that were cash and/or Cash Equivalents when the relevant original Investment
was made; 
 (k) the Company and its Subsidiaries may sell property pursuant to Permitted Sale/Leasebacks; 

(l) Dispositions of Investments in Joint Ventures to the extent required by, or made pursuant to, buy/sell arrangement between joint venture or
similar parties set forth in the relevant joint venture arrangements or similar binding agreements; 
 (m) the Disposition of the Capital
Stock or assets of any Immaterial Subsidiary; 
 (n) the sale by the Company and its Subsidiaries of bills of exchange of the Company and its
Subsidiaries; 
 (o) Dispositions pursuant to the Separation and Distribution Agreement; 

(p) Dispositions of non-core assets, in each case acquired in any acquisition or other Investment
permitted hereunder, including such Dispositions (x) made in order to obtain the approval of any anti-trust authority or otherwise necessary or advisable in the good faith determination of the Company to consummate any acquisition or other
Investment permitted hereunder or (y) which are being held for sale and not for the continued operation of any Borrower or any of their Subsidiaries or any of their respective businesses; 

(q) any other Disposition; provided that the aggregate fair market value of all Dispositions pursuant to this Section 7.8(q) does not
exceed $50,000,000; 
 (r) the Company or any of its Subsidiaries may transfer or contribute ownership of the Capital Stock of any Foreign
Subsidiary formed or organized under the laws of (a) any European country or (b) any state, province, district or other subdivision of any such country, in each case to a Foreign Subsidiary that is a European holding company; 

(s) Dispositions of Company Stock; 

(t) exchanges or swaps, including transactions covered by Section 1031 of the Code (or any comparable provision of any foreign
jurisdiction), of property or assets so long as any such exchange or swap is made for fair value (as determined by the Company in good faith) for like property or assets or property, assets or services of greater value or usefulness to the business
of the Borrowers and their Subsidiaries as a whole, as determined in good faith by the Company; provided that upon the consummation of any such exchange or swap by any Loan Party, to the extent the property received does not constitute an
Excluded Asset, the Administrative Agent has a perfected Lien with the same priority as the Lien held on the property or assets so exchanged or swapped; 

  
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 (u) Dispositions of accounts receivable in connection with the collection or compromise
thereof in the ordinary course of business or consistent with past practice (which, for the avoidance of doubt, shall exclude receivable financing); 

(v) Transfers of property subject to a casualty event and Dispositions constituting expropriations or takings by a Governmental Authority; 

(w) the unwinding of Hedge Agreements permitted hereunder pursuant to their terms; 

(x) Dispositions of assets that do not constitute Collateral having a fair market value of not more than, in any fiscal year, the greater of
$50,000,000 and 12.5% of Consolidated EBITDA for the most recently ended Test Period, which amounts if not used in any fiscal year may be carried forward to subsequent fiscal years (until so applied); 

(y) Dispositions of in-plant maintenance, repair and operating and perishable tooling operations to
third parties in connection with the outsourcing of such operations; 
 (z) Dispositions, abandonments, cancellations or lapses of
intellectual property or other intellectual property rights, including issuances or registrations thereof, or applications for issuances or registrations thereof, in the ordinary course of business or consistent with past practice or which, in the
good faith determination of the Company, are not necessary to the conduct of the business of any Borrower or their Subsidiaries or are obsolete or no longer economical to maintain in light of their use; 

(aa) the expiration of any Intellectual Property in accordance with any statutory term that is not subject to renewal; 

(bb) Dispositions of Capital Stock of, or sales of Indebtedness or other securities of, Unrestricted Subsidiaries; 

(cc) Dispositions made to comply with any order or other directive of any Governmental Authority or any applicable Requirement of Law; 

(dd) [reserved]; 
 (ee)
Dispositions constituting any part of a Permitted Reorganization; 
 (ff) any sale of motor vehicles and information technology equipment
purchased at the end of an operating lease and resold thereafter; 
 (gg) any issuance, sale or Disposition of Capital Stock to directors,
officers, managers or employees for purposes of satisfying requirements with respect to directors’ qualifying shares and shares issued to foreign nationals, in each case as required by applicable Requirements of Law; and 

(hh) any netting arrangement of accounts receivable between or among the any Borrower and their Subsidiaries or among Subsidiaries of any
Borrower made in the ordinary course of business. 
 Simultaneously with any transfer described in Section 7.5 (to the extent such transfer is to a
Person that is not a Loan Party) of this Agreement, the Lien on and security interest created by the Loan Documents in the Capital Stock of the Subsidiaries so transferred or contributed will be automatically released and the Administrative Agent
and the Collateral Agent shall take any action reasonably requested in writing by the Company to evidence such release. 

  
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 7.6. Restricted Payments. Declare or pay any dividend (other than dividends payable
solely in common stock or other applicable common equity interests of the Person making such dividend) on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance,
retirement or other acquisition of, any Capital Stock (but excluding any of the foregoing with respect to any debt security that is convertible into, or exchangeable for, Capital Stock) of the Company or any Subsidiary, whether now or hereafter
outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of the Company or any Subsidiary (collectively, “Restricted Payments”), except that: 

(a) any Subsidiary may make Restricted Payments to the Company, any Subsidiary or to any other Person (ratably based on such other
Person’s equity ownership in such Subsidiary) which owns Capital Stock of such Subsidiary; 
 (b) so long as no Event of Default shall
have occurred and be continuing, the Company may purchase the Company’s common stock held by any Permitted Payee upon the death, disability or termination of employment of such officer or employee; provided that the aggregate amount of
Restricted Payments under this paragraph (b) shall not exceed in the aggregate $5,000,000 in any fiscal year; provided, further, that any amount not so made as a Restricted Payment in the fiscal year for which it is permitted may be carried
over to be made as a Restricted Payment in subsequent fiscal years; 
 (c) the Company may make Restricted Payments if, after giving effect
thereto, the Total Leverage Ratio calculated on the date of incurrence thereof on a Pro Forma Basis would be less than 3.00 to 1.00 (it being understood that any Restricted Payment permitted at the time it was made shall be deemed to be permitted
notwithstanding that the conditions specified in this paragraph (c) for such Restricted Payment may no longer be satisfied thereafter); provided that no Event of Default shall have occurred and be continuing or would result therefrom); 

(d) [reserved]; 
 (e) the Company
may withhold shares of Capital Stock of the Company from, and pay personal payroll taxes of employees in respect of vested restricted shares of, options to purchase and other equity incentive awards in respect of, the Capital Stock of the Company;

 (f) the Company and its Subsidiaries may make Restricted Payments to the extent necessary to consummate the Closing Date Cash Transfer and
other transactions in connection with the Separation and Distribution Agreement; 
 (g) the Company may make additional Restricted Payments
in an amount not to exceed the portion, if any, of the Available Amount on such date that the Company elects to apply to this clause (g); provided that no Event of Default shall have occurred and be continuing or would result therefrom; 

(h) the Company may make additional Restricted Payments in an aggregate amount not to exceed $350,000,000; 

(i) the Company may repurchase, redeem, acquire or retire Capital Stock upon (or make provisions for withholdings in connection with) (or make
provisions for withholdings in connection with), the exercise of warrants, options or other securities convertible into or exchangeable for Capital Stock if such Capital Stock represents all or a portion of the exercise price of, or tax withholdings
with respect to, such warrants, options or other securities convertible into or exchangeable for Capital Stock as part of a “cashless” exercise; 

  
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 (j) [reserved]; 

(k) to the extent constituting a Restricted Payment, the Company may consummate any transaction permitted by Section 7.5 (other than
Sections 7.5(c)) and Section 7.8 (other than Section 7.8(z) and 7.8(ff)); 
 (l) the Company may pay any dividend or other
distribution or consummate any redemption within 60 days after the date of the declaration thereof or the provision of a redemption notice with respect thereto, as the case may be, if at the date of such declaration or notice, the dividend,
distribution or redemption contemplated by such declaration or redemption notice would have complied with the provisions of this Section 7.6; 

(m) the Company may make additional Restricted Payments constituting any part of a Permitted Reorganization; 

(n) the Company may make a distribution, by dividend or otherwise, of the Capital Stock of any Unrestricted Subsidiary (or a Subsidiary that
owns one or more Unrestricted Subsidiaries; provided that such Subsidiary owns no assets other than Capital Stock of one or more Unrestricted Subsidiaries and immaterial assets incidental to the ownership thereof); 

(o) the Company may make payments and distributions to satisfy dissenters’ rights (including in connection with, or as a result of, the
exercise of appraisal rights and the settlement of any claims or actions (whether actual, contingent or potential)), pursuant to or in connection with any acquisition, merger, consolidation, amalgamation or Disposition that complies with
Section 7.5 or any other transaction permitted hereunder; 
 (p) [reserved]; and 

(q) the Company may make a Restricted Payment in respect of required withholding or similar non-U.S.
Taxes with respect to any Permitted Payee and any repurchases of Capital Stock in consideration of such payments, including deemed repurchases in connection with the exercise of stock options or the issuance of restricted stock units or similar
stock based awards. 
 7.7. [Reserved]. 

7.8. Investments. Make any advance, loan, extension of credit (by way of guaranty or otherwise) or capital contribution to, or purchase
any Capital Stock, bonds, notes, debentures or other debt securities of, or any assets constituting a business unit of, or make any other investment in, any Person (all of the foregoing, “Investments”), except: 

(a) extensions of trade credit in the ordinary course of business or consistent with past practice; 

(b) investments in Cash Equivalents; 

(c) (i) Guarantee Obligations permitted by Section 7.2 and (ii) Guarantee Obligations arising in the ordinary course of business or
consistent with past practice with respect to other obligations that do not constitute Indebtedness; 
 (d) loans and advances to employees
of the Company or any Subsidiary of the Company in the ordinary course of business or consistent with past practice (including for travel, entertainment and relocation expenses) in an aggregate amount for the Company or any Subsidiary of the Company
not to exceed the greater of (x) (I) $10,000,000 and (II) and (y) 2.50% of Consolidated EBITDA for the most recently ended Test Period at any one time outstanding; 

  
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 (e) Guarantee Obligations by any Domestic Loan Party of Indebtedness of any Subsidiary that
is not a Domestic Loan Party; provided that the aggregate amount of such Guarantee Obligations, together with the aggregate amount of Investments by Domestic Loan Parties made pursuant to the proviso to Section 7.8(f) or 7.8(j), shall not
exceed the greater of (x) $150,000,000 and (y) 37.5% of Consolidated EBITDA for the most recently ended Test Period at any one time outstanding; 

(f) intercompany Investments by the Company or any of its Subsidiaries in the Company or any Person that, prior to such investment, is a
Subsidiary; provided that the aggregate amount of Investments by Domestic Loan Parties in Subsidiaries that are not Domestic Loan Parties under this clause (f), together with the aggregate amount of Investments by Domestic Loan Parties made pursuant
to the proviso to Section 7.8(j) and Guarantee Obligations pursuant to Section 7.8(e), shall not exceed the greater of (x) $150,000,000 and (y) 37.5% of Consolidated EBITDA for the most recently ended Test Period at any one time
outstanding; 
 (g) Investments in Joint Ventures or in any Person who, prior to the Investment, is not a Subsidiary and who becomes, as a
result of the Investment, a Subsidiary that is not a Wholly Owned Subsidiary or in any other Subsidiary that is not a Domestic Loan Party in an aggregate amount not to exceed in any fiscal year the greater of (x) $50,000,000 and (y) 12.5% of
Consolidated EBITDA for the most recently ended Test Period at any one time outstanding plus, in each case, all dividends, distributions, interest, payments, returns of capital, repayments of other amounts received in cash, by the Domestic Loan
Parties from Joint Ventures and Persons who become a Subsidiary as a result of such Investment or from such other Subsidiaries that are not Loan Parties; provided, that any such amount not so invested in the fiscal year for which it is permitted may
be carried over for investment in the succeeding fiscal years (until so applied); 
 (h) Investments in existence on the Closing Date listed,
to the extent in excess of $2,500,000, on Schedule 7.8(h); provided that no such Investment is increased except as permitted by the other provisions of this Section 7.8; 

(i) each Finance Subsidiary may execute and deliver one or more promissory notes (having terms customary for similar notes issued in
transactions similar to a Permitted Receivables Financing) to the Company and its Subsidiaries representing the purchase price of receivables sold to such Finance Subsidiary in a Permitted Receivables Financing, and the Company and its Subsidiaries
may contribute receivables and other assets of the type referred to in the definition of “Permitted Receivables Financing” to the capital of any Finance Subsidiary in connection with a Permitted Receivables Financing; 

(j) acquisitions as long as, after giving effect thereto, the Company would be in Pro Forma Compliance with the covenants in Section 7.1
for the most recently ended Test Period; provided that the aggregate cash consideration paid or payable by a Domestic Loan Party for all acquisitions of (1) Subsidiaries that are not Domestic Loan Parties or (2) all or substantially all
the assets of a person or division or line of business of a person that are not held by a Domestic Loan Party shall not exceed together with the aggregate amount of Investments by Domestic Loan Parties made pursuant to the proviso to
Section 7.8(f) and Guarantee Obligations pursuant to Section 7.8(e), the greater of (x) $150,000,000 and (y) 37.5% of Consolidated EBITDA for the most recently ended Test Period at any one time outstanding; 

  
 125 

 (k) Investments if, after giving effect thereto, the Total Leverage Ratio calculated on the
date of incurrence thereof on a Pro Forma Basis would be less than 3.25 to 1.00 (it being understood that any Investment permitted at the time it was made shall be deemed to be permitted notwithstanding that the conditions specified in this
paragraph (k) for such Investment may no longer be satisfied thereafter); provided that no Event of Default shall have occurred and be continuing or would result therefrom; 

(l) Investments by the Company and/or any of its Subsidiaries in an aggregate outstanding amount not to exceed the portion, if any, of the
Available Amount on such date that the Company elects to apply to this clause (l); provided that no Event of Default shall have occurred and be continuing or would result therefrom; 

(m) non-cash consideration received, to the extent permitted by the Loan Documents, in connection with
the disposition of property permitted by this Agreement; 
 (n) Investments consisting of extensions of credit in the nature of accounts
receivable, notes receivable arising from the grant of trade credit, and guarantees for the benefit of existing or potential suppliers, customers, distributors, licensors, licensees, lessees and lessors, in each case in the ordinary course of
business or consistent with past practice, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors ; 

(o) Hedge Agreements entered into not for speculative purposes; 

(p) deposit accounts and securities accounts maintained in the ordinary course of business, and to the extent constituting an Investment, Cash
Management Obligations and Cash Pooling Agreements; 
 (q) additional Investments by the Company or any of its Subsidiaries in an aggregate
amount (valued at cost) (for all Investments by the Company and all Subsidiaries pursuant to this clause (q)) not to exceed the greater of (x) $75,000,000 and (y) 18.75% of Consolidated EBITDA for the most recently ended Test Period at any one time
outstanding; 
 (r) [reserved]. 

(s) Investments held by a Person that is acquired and becomes a Subsidiary or of a Person merged or amalgamated or consolidated into any
Subsidiary, in each case after the Closing Date and which acquisition, merger, amalgamation or consolidation is permitted in accordance with another provision of this Section 7.8, to the extent that such Investments held by such Person were not
made in contemplation of or in connection with such acquisition, merger, amalgamation or consolidation, and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

(t) any Investments in a Joint Venture to the extent such Investment is substantially contemporaneously repaid in full with a dividend or other
distribution from such Joint Venture; 
 (u) to the extent that they constitute Investments, purchases and acquisitions of inventory,
supplies, materials or equipment or purchases, acquisitions, licenses (or other grants or rights to use or exploit) or leases of other assets, Intellectual Property, or other rights, in each case in the ordinary course of business or consistent with
past practice; 
 (v) Investments maintained in connection with any Loan Party’s deferred compensation plan in the ordinary course of
business; 

  
 126 

 (w) Investments consisting of rebates and extensions of credit in the nature of accounts
receivable or notes receivable arising from the grant of trade credit in the ordinary course of business or consistent with past practice; 

(x) any Investments acquired by the Company or any of its Subsidiaries: 

(i) in exchange for any other Investment or accounts receivables held by the Company or any such Subsidiary in connection with
or as a result of a bankruptcy, workout, reorganization or recapitalization of, or settlement or delinquent accounts and disputes with or judgments against, the issuer of such Investment or accounts receivable; 

(ii) as a result of a foreclosure by the Company or any of its Subsidiaries with respect to any secured Investment or other
transfer of title with respect to any secured Investment in default; 
 (iii) as a result of the settlement, compromise or
resolution of litigation, arbitration or other disputes with Persons who are not Affiliates; or 
 (iv) in settlement of
debts created in the ordinary course of business; 
 (y) Investments in prepaid expenses, negotiable instruments held for collection and
lease, utility and works compensation, performance and similar deposits in each case entered into as a result of the operations of the business in the ordinary course; 

(z) Investments in notes receivables payable to the Company or any Subsidiary by the purchasers of assets purchased pursuant to Dispositions
permitted in accordance with Section 7.5; 
 (aa) [reserved]; 

(bb) Investments by the Company in any Subsidiary consisting of reimbursement obligations of the Company in respect of the issuance of Letters
of Credit for the account of such Subsidiary hereunder to support obligations of such Subsidiary; 
 (cc) [reserved]; 

(dd) to the extent they constitute Investments, any letters of credit issued or created by the Company or its Subsidiaries pursuant to Sections
7.2(aa) or (cc); 
 (ee) Investments in Unrestricted Subsidiaries in an aggregate amount not to exceed in any fiscal year the greater of (x)
$50,000,000 and (y) 12.5% of Consolidated EBITDA for the most recently ended Test Period plus, in each case, all dividends, distributions, interest, payments, returns of capital, repayments of other amounts received in cash, by the Domestic Loan
Parties from Unrestricted Subsidiaries; provided, that any such amount not so invested in the fiscal year for which it is permitted may be carried over for investment in succeeding fiscal years (until so applied); 

(ff) Investments consisting of (or resulting from) Indebtedness permitted under Section 7.2, Liens permitted under Section 7.3,
Restricted Payments permitted under Section 7.6 (other than Section 7.6(k)), Restricted Debt Payments permitted by Section 7.15 and Dispositions permitted by Section 7.5 (other than Section 7.5(c)); 

  
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 (gg) Investments in the ordinary course of business consisting of endorsements for
collection or deposit and customary trade arrangements with customers, vendors, suppliers, licensors, sublicensors, licensees and sublicensees; 

(hh) [reserved]; 
 (ii) (i)
Guarantees of leases or subleases (in each case other than Capital Leases) or of other obligations not constituting Indebtedness, (ii) Guarantees of the lease obligations of suppliers, customers, franchisees and licensees of the Company and/or
its Subsidiaries, in each case, in the ordinary course of business or consistent with past practice and (iii) Investments consisting of guarantees of any supplier’s obligations in respect of commodity contracts solely to the extent such
commodities related to the materials or products to be purchased by the Company or any Subsidiary; 
 (jj) Investments in Subsidiaries in
connection with any Permitted Reorganization; 
 (kk) [reserved]; 

(ll) unfunded pension fund and other employee benefit plan obligations and liabilities to the extent that they are permitted to remain unfunded
under applicable Requirements of Law; 
 (mm) Investments consisting of the licensing, sublicensing or contribution of any intellectual
property or other intellectual property rights pursuant to joint marketing, collaboration or other similar arrangements with other Persons; 

(nn) contributions in connection with compensation arrangements to a “rabbi” trust for the benefit of employees, directors, partners,
members, consultants, independent contractors or other service providers or other grantor trust subject to claims of creditors in the case of a bankruptcy of any Borrower or any of their Subsidiaries; 

(oo) Investments consisting of earnest money deposits required in connection with purchase agreements or other acquisitions or Investments
otherwise permitted under this Section 7.8 and any other pledges or deposits permitted by Section 7.3; 
 (pp) Term Loans
repurchased by the Company or a Subsidiary pursuant to and subject to immediate cancellation in accordance with this Agreement; 
 (qq)
Guarantee Obligations of any Borrower or any Subsidiary in respect of letters of support, guarantees or similar obligations issued, made or incurred for the benefit of any Subsidiary of any Borrower to the extent required by law or in connection
with any statutory filing or the delivery of audit opinions performed in jurisdictions other than within the United States; and 
 (rr)
Investments or other payments required to be made by the Company to VF in accordance with the Separation and Distribution Agreement and to the extent necessary to consummate the Closing Date Cash Transfer; 

Any Investment that when made complies with the requirements of the definition of the term “Cash Equivalents” may continue to
be held notwithstanding that such Investment if made thereafter would not comply with such requirements. 

  
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 Notwithstanding the foregoing, no Investment consisting of or resulting from any transfer or
other Disposition of any material Intellectual Property by the Company or any Subsidiary may be made to an Unrestricted Subsidiary except pursuant to clause (ee) above. 

7.9. [Reserved]. 
 7.10.
Transactions with Affiliates. Enter into or suffer to exist any transaction, including any purchase, sale, lease or exchange of property, the rendering of any service or the payment of any management, advisory or similar fees with any non-consolidated Affiliate involving aggregate payments or consideration in excess of $15,000,000; provided that the foregoing restriction shall not apply to: 

(a) the Transactions (including the Closing Date Cash Transfer), and all transactions pursuant to any Distribution Document (as defined in the
Separation and Distribution Agreement referred to in the Form 10), and any other agreements, instruments, or certificates related thereto or to the transactions contemplated by the Separation and Distribution Agreement (in each case, together with
the schedules, exhibits, annexes and other attachments thereto); 
 (b) transactions or agreements between the Company and/or its
Subsidiaries; 
 (c) transactions in effect on the Closing Date listed, to the extent in excess of $2,500,000, on Schedule 7.10 and any
amendment, modification or extension to the agreements governing such transactions to the extent such amendment, modification or extension, taken as a whole, is not materially (i) adverse to the Lenders or (ii) more disadvantageous to the
Lenders than the relevant transaction in existence on the Closing Date; 
 (d) [reserved]; 

(e) transactions that (a) are upon fair and reasonable terms not materially less favorable to the Company or such Subsidiary, as the case
may be, than it would obtain in a comparable arm’s length transaction with a Person that is not a non-consolidated Affiliate or (b) if in the good faith judgment of the board of directors of the
Company no comparable transaction is available with which to compare such transaction, such transaction is fair to the Company or such Subsidiary from a financial point of view; 

(f) any issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding
of, employment arrangements, stock options and stock ownership plans approved by the board of directors (or equivalent governing body) of the Company or any Subsidiary; 

(g) (i) any collective bargaining, employment, indemnification, expense reimbursement or severance agreement or compensatory (including profit
sharing) arrangement entered into by the Company or any of its Subsidiaries with any Permitted Payee, (ii) any subscription agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put/call rights or similar
rights with any Permitted Payee and (iii) payments or other transactions pursuant to any management equity plan, employee compensation, benefit plan, stock option plan or arrangement, equity holder arrangement, supplemental executive retirement
benefit plan, any health, disability or similar insurance plan, or any employment contract or arrangement which covers any Permitted Payee and payments pursuant thereto; 

(h) Guarantees permitted by Section 7.2, Restricted Payments permitted under Section 7.6 (other than Section 7.6(k)),
Investments permitted under Section 7.8 (other than Section 7.8(z) and Section 7.8(ff)) and Restricted Debt Payments permitted by Section 7.15); 

  
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 (i) (i) the formation of a joint venture or similar entity (and Investments permitted in
connection therewith), which would constitute a transaction with an Affiliate solely as a result of the Company or any Subsidiary owning Capital Stock of, or otherwise controlling, such joint venture or similar entity and (ii) transactions with
any Person that is an Affiliate solely because a director or officer of such Person is a director or officer of the Company or any Subsidiary; 

(j) the payment of customary fees and reasonable out-of-pocket
costs to, and indemnities provided on behalf of, members of the board of directors (or similar governing body), officers, employees, members of management, managers, consultants and independent contractors of the Company and/or any of its
Subsidiaries in the ordinary course of business; 
 (k) any transaction in respect of which the Company delivers to the Administrative Agent
a letter addressed to the board of directors (or equivalent governing body) of the Company from an accounting, appraisal or investment banking firm of nationally recognized standing stating that such transaction is fair to the Company or such
Subsidiary from a financial point of view or stating that the terms, when taken as a whole, are not substantially less favorable to the Company or the applicable Subsidiary than might be obtained at the time in a comparable arm’s length
transaction from a Person who is not an Affiliate; 
 (l) (i) Investments by Affiliates in securities or other Indebtedness of the Company or
any Subsidiary (and payment of reasonable out-of-pocket expenses incurred by such Affiliates in connection therewith) so long as the Investment is being offered by the
Company or such Subsidiary generally to other investors on the same or more favorable terms and (ii) payments to Affiliates in respect of securities or other Indebtedness of the Company or any Subsidiary contemplated in the foregoing subclause
(i) or that were acquired from Persons other than the Company and the Subsidiaries, in each case, in accordance with the terms of such securities or other Indebtedness; 

(m) [reserved]; and 
 (n)
transactions undertaken in the ordinary course of business or consistent with past practice pursuant to membership in a purchasing consortium. 

7.11. Sales and Leasebacks. Enter into or suffer to exist any arrangement with any Person providing for the leasing by the Company or
any Subsidiary of real or personal property that has been or is to be sold or transferred in a related transaction by the Company or such Subsidiary to such Person or to any other Person to whom funds have been or are to be advanced by such Person
on the security of such property or rental obligations of the Company or such Subsidiary; provided that any such transaction shall be permitted so long as (i) such transaction is on an arm’s length basis and (ii) the resulting
Indebtedness is permitted by Section 7.2; provided that no Event of Default shall have occurred and be continuing or would result therefrom and such sale/leaseback shall be for no less than the fair market value of such property at the time of
such sale/leaseback as determined by the Company in good faith (collectively, the “Permitted Sale/Leasebacks”) (the Company agreeing that all Permitted Sale/Leasebacks shall be Asset Sales and any Lien on or security interests in
any such property created by the Loan Documents shall be automatically released upon consummation of such Permitted Sale/Leasebacks and the Collateral Agent shall take any action reasonably requested by the Company to evidence such release). 

7.12. Changes in Fiscal Periods. Permit the fiscal year of the Company to end on a day other than the day that results in the nearest
Saturday closest to December 31 of each year; provided, however, that the Company may, upon written notice to the Administrative Agent, change the financial reporting convention above to (x) a calendar year-end convention or (y) any other financial reporting convention reasonably acceptable to the Administrative Agent, in which case, the Company and the Administrative Agent will, and are hereby
authorized by the Lenders to, make any amendments to this Agreement that are necessary, in the reasonable judgment of the Administrative Agent and the Company, to reflect such change in fiscal year. 

  
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 7.13. Negative Pledge Clauses. Enter into or suffer to exist or become effective any
agreement that prohibits or limits the ability of the Company or any of its Subsidiaries (other than Excluded Subsidiaries (except to the extent any Subsidiary is an Excluded Subsidiary solely pursuant to clause (iii) of the definition
thereof)) to create, incur, assume or suffer to exist any Lien upon any of its property (other than Company Stock and other Excluded Assets) or revenues, whether now owned or hereafter acquired, to secure its obligations under the Loan Documents to
which it is a party other than: 
 (a) this Agreement and the other Loan Documents; 

(b) any agreements governing secured Indebtedness permitted hereby (in which case, any prohibition or limitation shall only be effective
against the assets securing such Indebtedness) or Permitted Receivables Financings or Supply Chain Financings (in which case, any prohibition or limitation shall only be effective against the assets included in such Permitted Receivables Financing
or Supply Chain Financings); 
 (c) restrictions by reason of customary provisions restricting assignments, subletting, licensing,
sublicensing or other transfers (including the granting of any Lien) contained in leases, subleases, licenses, sublicenses, joint venture agreements, asset sale agreements, trading, netting, operating, construction, service, supply, purchase, sale
or other agreements entered into in the ordinary course of business or consistent with past practice (each of the foregoing, a “Covered Agreement”) (provided that such restrictions are limited to the relevant Covered
Agreement and/or the property or assets secured by such Liens or the property or assets subject to such Covered Agreement); 
 (d) customary
restrictions on the creation of Liens on any property or assets arising under a security agreement governing a Lien permitted under this Agreement; 

(e) customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or any assets pending such sale;
provided such restrictions and conditions apply only to the Subsidiary or assets that are to be sold and such sale is permitted hereunder; 

(f) customary restrictions in Intellectual Property license agreements; 

(g) any encumbrance or restriction assumed in connection with an acquisition of the property or Capital Stock of any Person, so long as such
encumbrance or restriction relates solely to the Person and its subsidiaries (including the Capital Stock of the relevant Person or Persons) and/or property so acquired (or to the Person or Persons (and its or their subsidiaries) bound thereby) and
was not created in contemplation of such acquisition; 
 (h) restrictions imposed by customary provisions in partnership agreements, limited
liability company organizational governance documents, joint venture agreements and other similar agreements (i) relating to the transfer of the assets of, or ownership interests in, the relevant partnership, limited liability company, joint
venture or any similar Person (or any “shell company” Company with respect thereto), (ii) relating to such joint venture or its members and/or (iii) otherwise entered into in the ordinary course of business; 

  
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 (i) restrictions on cash or other deposits permitted under Section 7.3 and/or 7.8 and
any net worth or similar requirements, including such restrictions or requirements imposed by Persons under contracts entered into in the ordinary course of business or for whose benefit such cash or other deposits or net worth requirements exist;

 (j) restrictions (i) set forth in documents which exist on the Closing Date or (ii) which are contemplated as of the Closing
Date and, in the case of this clause (ii), to the extent the assets or property subject to such restriction are in excess of $2,500,000, set forth on Schedule 7.13; 

(k) restrictions arising under or as a result of applicable Requirements of Law or the terms of any license, authorization, concession or
permit issued or granted by a Governmental Authority; 
 (l) restrictions with respect to any Subsidiary that was previously an Unrestricted
Subsidiary, pursuant to or by reason of an agreement that such Subsidiary is a party to or entered into before the date on which such Subsidiary became a Subsidiary; provided that such agreement was not entered into in anticipation of such
Subsidiary or such Unrestricted Subsidiary becoming a Subsidiary and any such restriction does not extend to any assets or property of the Company or any other Subsidiary other than the assets and property of such Subsidiary; 

(m) [reserved]; 
 (n) other
restrictions or encumbrances imposed by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of the contracts, instruments or obligations referred to in the preceding clauses of this
Section 7.13; provided that no such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Company, materially more restrictive with respect to
such encumbrances and other restrictions, taken as a whole, than those in effect prior to the relevant amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

7.14. Lines of Business. Enter into any material business, either directly or through any Subsidiary, except for those businesses
substantially similar to the businesses in which the Company and its Subsidiaries are engaged on the Closing Date, after giving effect to the Transactions, or that are reasonably related, complementary, synergistic or ancillary thereto or reasonable
extensions thereof. 
 7.15. Optional Payments and Modifications of Subordinated Indebtedness. (i) Make or agree to pay or make,
directly or indirectly, any payment or other distribution (whether in cash, securities or other property) of or in respect of principal of or interest on any Subordinated Indebtedness, or any payment or other distribution (whether in cash,
securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, defeasance, cancelation or termination of such Subordinated Indebtedness (collectively,
“Restricted Debt Payments”), or (ii) amend, modify, waive or otherwise change, or consent or agree to any amendment, modification, waiver or other change to, any of the terms of any agreement, instrument or other document
evidencing Subordinated Indebtedness (other than any such amendment, modification, waiver or other change that is not in the reasonable judgment of the Company materially adverse to the Lenders); provided that so long as no Event of Default has
occurred and is continuing, the Company may: 
 (a) make regularly scheduled interest and principal payments as and when due in respect of
any Subordinated Indebtedness, other than payments prohibited by the subordination provisions thereof; 

  
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 (b) refinance Subordinated Indebtedness with the Net Cash Proceeds of a Permitted
Refinancing; 
 (c) make payments of or in respect of Subordinated Indebtedness made solely with the Net Cash Proceeds of Qualified Capital
Stock issued by the Company after the Closing Date; 
 (d) (A) convert any Subordinated Indebtedness into Qualified Capital Stock and
(B) to the extent constituting a Restricted Debt Payment, pay payment-in-kind interest with respect to any Indebtedness that is permitted under Section 7.2;

 (e) make Restricted Debt Payments in an aggregate amount not to exceed the portion, if any, of the Available Amount on such date that the
Company elects to apply to this clause (e); provided that no Event of Default shall have occurred and be continuing or would result therefrom; 

(f) make additional payments of or in respect of Subordinated Indebtedness; provided that the aggregate principal amount of such payments
pursuant to this clause (f) may not exceed the greater of (x) $50,000,000 and (y) 12.5% of Consolidated EBITDA for the most recently ended Test Period; 

(g) make unlimited Restricted Debt Payments at any time the Total Leverage Ratio is equal to or less than 3.00 to 1.00 calculated on the date
of incurrence thereof on a Pro Forma Basis after giving effect to such payment (it being understood and agreed that any fee, premium or expense paid or payable in connection with such payment shall not be subject to or included within the
calculation of such amount); and 
 (h) make payments as part of, or to enable another Person to make, an “applicable high yield
discount obligation” catch-up payment. 
 7.16. Use of Proceeds. Request any Loan or
Letter of Credit, and no Borrower nor any Subsidiary shall use, and shall use commercially reasonable efforts to procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any
Loan or Letter of Credit (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for the purpose of
directly or, to any Borrower’s Knowledge, indirectly funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, except to the extent permitted for a Person required
to comply with Sanctions, or (c) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 
 SECTION 8.
EVENTS OF DEFAULT 
 If any of the following events shall occur and be continuing: 

(a) any Borrower shall fail to pay any principal of any Loan or Reimbursement Obligation when due in accordance with the terms hereof; or any
Borrower shall fail to pay any interest on any Loan or Reimbursement Obligation, or any other amount payable hereunder or under any other Loan Document, within five Business Days after any such interest or other amount becomes due in accordance with
the terms hereof; or 
 (b) any representation or warranty made or deemed made by any Loan Party herein or in any other Loan Document shall
prove to have been inaccurate in any material respect on or as of the date made or deemed made and, to the extent capable of being corrected, such inaccuracy is not corrected on or prior to 30 days from the earlier of (x) the first date a
Responsible Officer of the Company has Knowledge of such inaccuracy and (y) the date on which the Company received notice thereof from the Administrative Agent or the Required Lenders of such misrepresentation; or 

  
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 (c) any Loan Party shall default in the observance or performance of any agreement contained
in clause (i) or (ii) of Section 6.4(a) (in each case with respect to legal existence of any Borrower only), Section 6.7(a) or Section 7 of this Agreement; provided that a default in the observance or performance of the
Consolidated Interest Coverage Ratio Financial Covenant will not constitute an Event of Default for purposes of the Tranche B Term Facility, and no Tranche B Term Lender will be permitted to exercise any remedies with respect to an Event of Default
in respect of the Consolidated Interest Coverage Ratio Financial Covenant until the date, if any, on which the Revolving Commitments have been terminated and the Revolving Loans and the Tranche A Term Loans have been accelerated as a result of such
default in the observance or performance of the Consolidated Interest Coverage Ratio Financial Covenant; or 
 (d) any Loan Party shall
default in the observance or performance of any other agreement contained in this Agreement or any other Loan Document (other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a
period of 30 days after receipt of notice thereof by the Company from the Administrative Agent or the Required Lenders; or 
 (e) the Company
or any of its Subsidiaries shall (i) default in making any payment of any principal of any Indebtedness (including any Guarantee Obligation, but excluding the Loans and Reimbursement Obligations) on the scheduled or original due date with
respect thereto or any interest on any such Indebtedness, in each case, beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created or (ii) default in the observance or performance of
any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, in each case of clauses (i) or (ii) the
effect of which default or other event or condition is to cause, or to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required, such
Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee Obligation) to become payable; provided, that a default, event or condition described in clause (i) or (ii) of this
paragraph (e) shall not at any time constitute an Event of Default unless, at such time, one or more defaults, events or conditions of the type described in clauses (i) or (ii) of this paragraph (e) shall have occurred and be
continuing with respect to Indebtedness the aggregate outstanding principal amount of which exceeds in the aggregate of $50,000,000 for the Company and its Subsidiaries; or 

(f) (i) the Company or any of Significant Subsidiaries shall commence any case, proceeding or other action (A) under any existing or
future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or
seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, except for any such case, proceeding or action in connection
with any liquidation or dissolution otherwise permitted pursuant to Section 7.4 of this Agreement, or (B) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial
part of its assets, or the Company or any of its Significant Subsidiaries shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against the Company or any of its Significant Subsidiaries any case,
proceeding or other action of a nature referred to in clause (i) above that (A) results in the entry of an order for relief or any such adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of
60 days; provided that in the case of any Swiss Borrower, any debt enforcement proceeding (Betreibung) which has not led to a notice of bankruptcy (Betreibungsandrohung) shall not constitute an Event of Default; or (iii) there
shall be commenced 

  
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against the Company or any of its Significant Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or
any substantial part of its assets that results in the entry of an order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; or (iv) the Company or any of
its Significant Subsidiaries shall take any corporate action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) the Company or any of its
Significant Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or 

(g) (i) any Person shall engage in any “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the
Code) involving any Plan, (ii) any “accumulated funding deficiency” or “failure to meet the minimum funding standards” (each as defined in Section 412 of the Code or 302 of ERISA), whether or not waived, shall exist
with respect to any Single Employer Plan or any Lien in favor of the PBGC or a Plan shall arise on the assets of the Company or any Commonly Controlled Entity, (iii) a Reportable Event shall occur with respect to, or proceedings shall commence
to have a trustee appointed, or a trustee shall be appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a trustee would reasonably be expected to result in the
termination of such Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan shall terminate for purposes of Title IV of ERISA, (v) the Company or any Commonly Controlled Entity shall, or would reasonably be expected to, incur
any liability in connection with a withdrawal from, or the Insolvency of, a Multiemployer Plan or (vi) any other event or condition shall occur or exist with respect to a Plan; and in each case in clauses (i) through (vi) above, such event
or condition, together with all other such events or conditions, if any, could be expected to have a Material Adverse Effect; or 
 (h) one
or more judgments or decrees shall be entered against the Company or any of its Subsidiaries involving in the aggregate for the Company and its Subsidiaries a liability (not covered by insurance as to which the relevant insurance company has not
denied coverage) of $50,000,000 or more, and all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal within 60 days from the entry thereof (it being understood that, notwithstanding the definition of
“Default,” no “Default” shall be triggered solely by the rendering of a judgment or judgments prior to the lapse of such 60 day period so long as such judgments are capable of satisfaction by payment at any time); or 

(i) any of the Security Documents shall cease, for any reason, to be in full force and effect, or any Loan Party shall so assert in writing, or
any Lien created by any of the Security Documents shall cease to be enforceable and of the same effect and priority purported to be created thereby on a material portion of the Collateral, except to the extent that such cessation results from the
failure of the Collateral Agent to maintain possession of certificates representing securities pledged or to file continuation statements under the Uniform Commercial Code of any applicable jurisdiction; 

(j) any material portion of the guarantees contained in the Guarantee Agreement, taken as a whole, shall cease, for any reason, to be in full
force and effect (other than as permitted in a Loan Document or in accordance with its terms) or any Loan Party shall so assert; or 
 (k)
(i) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), shall become the “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act), directly or
indirectly, of more than 35% of the outstanding common voting stock of the Company; or (ii) the board of directors of the Company shall cease to consist of a majority of Continuing Directors (collectively, a “Change of
Control”); provided that the Company ceasing to be a wholly owned subsidiary of VF as a result of the Transactions shall in no event constitute a Change of Control. 

  
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 then, and in any such event, (A) if such event is an Event of Default specified in clause (i) or
(ii) of paragraph (f) above with respect to any Borrower, automatically the Revolving Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other
Loan Documents (including all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable, and (B) if
such event is any other Event of Default, either or both of the following actions may be taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent
shall, by notice to the Borrowers declare the Revolving Commitments to be terminated forthwith, whereupon the Revolving Commitments thereof shall immediately terminate; and (ii) with the consent of the Required Lenders, the Administrative Agent
may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrowers, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents
(including all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately
become due and payable. With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration pursuant to this paragraph, each applicable Borrower shall at such time deposit in a
cash collateral account opened by the Administrative Agent an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit. Amounts held in such cash collateral account shall be applied by the Administrative Agent to the
payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other obligations of each such Borrower hereunder
and under the other Loan Documents. After all such Letters of Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall have been satisfied and all other obligations of the Borrowers hereunder and under the other Loan
Documents shall have been paid in full, the balance, if any, in such cash collateral account shall be returned to the applicable Borrower(s) (or such other Person as may be lawfully entitled thereto). Except as expressly provided above in this
Section, presentment, demand, protest and all other notices of any kind are hereby expressly waived by each Borrower. 
 SECTION 9. THE AGENTS 

9.1. Appointment. (a) Each Lender hereby irrevocably designates and appoints the Administrative Agent as the agent of such Lender
under this Agreement and the other Loan Documents, and each such Lender irrevocably authorizes the Administrative Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to
exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding
any provision to the contrary elsewhere in this Agreement, the Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants,
functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent. 

(b) The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of the Lenders and the
Swingline Lender and each Issuing Lender hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender, Swingline Lender and Issuing Lender for purposes of acquiring, holding and enforcing any and all Liens
on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. 

  
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 9.2. Delegation of Duties. The Administrative Agent may execute any of its duties
under this Agreement and the other Loan Documents by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining
to such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable
care. 
 9.3. Exculpatory Provisions. Neither any Agent nor any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates shall be (i) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement
or any other Loan Document (except to the extent that any of the foregoing are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from its or such Person’s own bad faith, gross negligence or
willful misconduct) or (ii) responsible in any manner to any of the Lenders for any recitals, statements, representations or warranties made by any Loan Party or any officer thereof contained in this Agreement or any other Loan Document or in
any certificate, report, statement or other document referred to or provided for in, or received by the Agents under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness,
enforceability or sufficiency of this Agreement or any other Loan Document or for any failure of any Loan Party a party thereto to perform its obligations hereunder or thereunder. The Agents shall not be under any obligation to any Lender to
ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party. 

9.4. Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon
any instrument, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or
made by the proper Person or Persons and upon advice and statements of legal counsel (including counsel to the Borrowers), independent accountants and other experts selected by the Administrative Agent. The Administrative Agent may deem and treat
the payee of any Note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with the Administrative Agent. The Administrative Agent shall be fully justified in failing or
refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required Lenders (or, if so specified by this Agreement, all Lenders) if the Administrative Agent believes in
good faith that such action shall expose it to liability or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such
action. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Required Lenders (or, if so specified by this
Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans. 

9.5. Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default
hereunder unless the Administrative Agent has received notice from a Lender or a Borrower referring to this Agreement, describing such Default and stating that such notice is a “notice of default”. In the event that the
Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default as shall be reasonably directed by the Required Lenders as
set forth in this Agreement (or, if so specified by this Agreement, all Lenders); provided that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such
action, or refrain from taking such action, with respect to such Default as it shall deem advisable in the best interests of the Lenders and permitted by this Agreement. 

  
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 9.6. Non-Reliance on Agents and Other
Lenders. Each Lender expressly acknowledges that neither the Agents nor any of their respective officers, directors, employees, agents, attorneys-in-fact or
affiliates have made any representations or warranties to it and that no act by any Agent hereinafter taken, including any review of the affairs of a Loan Party or any affiliate of a Loan Party, shall be deemed to constitute any representation or
warranty by any Agent to any Lender. Each Lender represents to the Agents that it has, independently and without reliance upon any Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own
appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Loan Parties and their affiliates and made its own decision to make its extensions of credit hereunder and enter into
this Agreement. Each Lender also represents that it will, independently and without reliance upon any Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit
analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other
condition and creditworthiness of the Loan Parties and their affiliates. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder, the Administrative Agent shall not have
any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any Loan Party or any affiliate of a Loan Party
that may come into the possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates. 

9.7. Indemnification. The Lenders agree to severally indemnify each Agent in its capacity as such (to the extent not reimbursed by the
Borrowers and without limiting the obligation of the Borrowers to do so), ratably according to their respective Aggregate Exposure Percentages in effect on the date on which indemnification is sought under this Section (or, if indemnification is
sought after the date upon which the Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such Aggregate Exposure Percentages immediately prior to such date), from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted
against such Agent in any way relating to or arising out of, the Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any
action taken or omitted by such Agent under or in connection with any of the foregoing; provided that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses or disbursements that are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from such Agent’s bad faith, gross negligence or willful misconduct. The agreements in this
Section 9.7 shall survive the payment of the Loans and all other amounts payable hereunder. 
 9.8. Agent in Its Individual
Capacity. Each Agent and its affiliates may make loans to, accept deposits from and generally engage in any kind of business with any Loan Party as though such Agent was not an Agent. With respect to its Loans made or renewed by it and with
respect to any Letter of Credit issued or participated in by it, each Agent shall have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may exercise the same as though it were not an Agent, and the terms
“Lender” and “Lenders” shall include each Agent in its individual capacity. 
 9.9. Successor
Administrative Agent. The Administrative Agent may resign as Administrative Agent upon 20 days’ notice to the Lenders and the Borrowers. If the Administrative Agent shall resign as Administrative Agent under this Agreement and the other
Loan Documents, then the Required Lenders shall appoint from among the Lenders a successor agent for the Lenders, which successor agent shall 

  
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(unless an Event of Default under Section 8(a) or Section 8(f) with respect to any Borrower shall have occurred and be continuing) be subject to approval by the Borrowers (which
approval shall not be unreasonably withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent, and the term “Administrative Agent” shall mean such successor agent
effective upon such appointment and approval, and the former Administrative Agent’s rights, powers and duties as Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent
or any of the parties to this Agreement or any holders of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date that is 20 days following a retiring Administrative Agent’s notice of resignation, the
retiring Administrative Agent’s resignation shall nevertheless thereupon become effective and the Lenders shall assume and perform all of the duties of the Administrative Agent hereunder until such time, if any, as the Required Lenders appoint
(with the consent of the Borrowers (to the extent required by the immediately preceding sentence)) a successor agent as provided for above. After any retiring Administrative Agent’s resignation as Administrative Agent, the provisions of this
Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents. 

9.10. Certain ERISA Matters. (a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party
hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, and not, for the avoidance of doubt, to or for the
benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 
 (i) such Lender
is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the
Loans, the Letters of Credit, the Commitments or this Agreement, 
 (ii) the transaction exemption set forth in one or more
PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a
class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain
transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the
Commitments and this Agreement, 
 (iii) (A) such Lender is an investment fund managed by a “Qualified Professional
Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of
Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such
Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or 

(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole
discretion, and such Lender. 

  
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 (b) In addition, unless sub-clause (i) in the
immediately preceding clause (a) is true with respect to a Lender or such Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately
preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases
being a Lender party hereto, for the benefit of the Administrative Agent, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that the Administrative Agent is not a fiduciary with respect to the assets
of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise of any
rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto). 
 9.11.
Agents. None of the Arrangers or Agents (other than the Administrative Agent) identified in this Agreement shall have any rights, powers, obligations, liabilities, responsibilities or duties under this Agreement or any other Loan Document,
except in its capacity, as applicable, as a Lender, a Swingline Lender or an Issuing Lender hereunder. Without limiting any other provision of this Section 9, no such Arranger or Agent in its capacity as such shall have or be deemed to have any
fiduciary relationship with any Lender (including any Swingline Lender or any Issuing Lender) or any other Person by reason of this Agreement or any other Loan Document. 

9.12. Credit Bidding. The Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Required
Lenders, to credit bid all or any portion of the Obligations (including by accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase
(either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 of the Bankruptcy Code,
or any similar laws in any other jurisdictions to which a Loan Party is subject, or (b) at any other sale, foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative
Agent (whether by judicial action or otherwise) in accordance with any applicable law. In connection with any such credit bid and purchase, the Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid by the
Administrative Agent at the direction of the Required Lenders on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that shall vest upon the
liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) for the asset or assets so purchased (or for the equity interests or debt instruments of the
acquisition vehicle or vehicles that are issued in connection with such purchase). In connection with any such bid, (i) the Administrative Agent shall be authorized to form one or more acquisition vehicles and to assign any successful credit
bid to such acquisition vehicle or vehicles, (ii) each of the Secured Parties’ ratable interests in the Obligations which were credit bid shall be deemed without any further action under this Agreement to be assigned to such vehicle or
vehicles for the purpose of closing such sale, (iii) the Administrative Agent shall be authorized to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with
respect to such acquisition vehicle or vehicles, including any disposition of the assets or equity interests thereof, shall be governed, directly or indirectly, by, and the governing documents shall provide for, control by the vote of the Required
Lenders or their permitted assignees under the terms of this Agreement or the governing documents of the applicable acquisition vehicle or vehicles, as the case may be, irrespective of the termination of this Agreement and without giving effect to
the limitations on actions by the Required Lenders contained in Section 10.1), (iv) the Administrative Agent on behalf of such acquisition vehicle or vehicles shall be authorized to issue to each of the Secured Parties, ratably on account of
the relevant Obligations which were credit bid, interests, whether as equity, partnership interests, limited partnership interests or membership interests, in any such acquisition vehicle 

  
 140 

 
and/or debt instruments issued by such acquisition vehicle, all without the need for any Secured Party or acquisition vehicle to take any further action, and (v) to the extent that
Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of
Obligations credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Secured Parties pro rata with their original interest in such Obligations and the equity interests and/or debt instruments
issued by any acquisition vehicle on account of such Obligations shall automatically be cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action. Notwithstanding that the ratable portion of the
Obligations of each Secured Party are deemed assigned to the acquisition vehicle or vehicles as set forth in clause (ii) above, each Secured Party shall execute such documents and provide such information regarding the Secured Party (and/or any
designee of the Secured Party which will receive interests in or debt instruments issued by such acquisition vehicle) as the Administrative Agent may reasonably request in connection with the formation of any acquisition vehicle, the formulation or
submission of any credit bid or the consummation of the transactions contemplated by such credit bid. 
 SECTION 10. MISCELLANEOUS 

10.1. Amendments and Waivers. (a) Neither this Agreement, any other Loan Document, nor any terms hereof or thereof may be amended,
supplemented or modified except in accordance with the provisions of this Section 10.1. The Required Lenders and each Loan Party that is a party to the relevant Loan Document may, or, with the written consent of the Required Lenders, the
Administrative Agent and each Loan Party that is a party to the relevant Loan Document may, from time to time, (a) enter into written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any
provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Loan Parties hereunder or thereunder or (b) waive, on such terms and conditions as the Required Lenders or the Administrative
Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment,
supplement or modification shall: (i) forgive the principal amount or extend the final scheduled date of maturity of any Loan or extend any L/C Participant’s interest in any Issuing Lender’s obligations and rights under any Letter of
Credit beyond the Revolving Termination Date, extend the scheduled date of any amortization payment in respect of any Term Loan, reduce the stated rate of any interest or fee payable hereunder (except (x) in connection with the waiver of
applicability of any post-default increase in interest rates, (y) that any amendment or modification in the financial definitions in this Agreement shall not constitute a reduction in the rate of interest or commitment fee for purposes of this
clause (i) and (z) in each case of this clause (i), waivers of, or consents or departures from, mandatory prepayments, mandatory reductions of commitments, or of any Default or Event of Default) or extend the scheduled date of any payment
thereof or increase the amount or extend the expiration date of any Lender’s Revolving Commitment with respect to any Lender, in each case without the consent of each Lender directly affected thereby; (ii) reduce any percentage specified
in the definition of Required Lenders or Required Revolving Lenders, or change any other provision of any Loan Document specifying the number or percentage of Lenders required to waive, amend or modify any term thereof, release all or substantially
all of the Collateral (other than as otherwise permitted hereunder or in the other Loan Documents) under the Collateral Agreement or release all or substantially all of the value of the guarantees (other than as otherwise permitted hereunder or in
the other Loan Documents) under the Guarantee Agreement, in each case without the consent of all Lenders or reduce the percentage specified in the definition of Majority Facility Lenders with respect to any Facility without the consent of all
Lenders under such Facility; (iii) amend or modify any provision of Section 5.03 of the Collateral Agreement without the consent of each Lender directly and adversely affected thereby; (iv) amend, modify or waive any provision of
Section 2.19 in a manner that would alter the pro rata sharing of 

  
 141 

 
payments or Section 10.7(a) without the consent of each Lender directly and adversely affected thereby, or amend, modify or waive any other provision of Section 2.19 without the consent
of the Majority Facility Lenders in respect of each Facility adversely affected thereby; (v) [reserved]; (vi) [reserved]; (vii) amend, modify or waive any provision of Section 9 without the consent of the Administrative Agent;
(viii) amend, modify or waive any provision of Section 2.8 or 2.9 without the consent of the Swingline Lender; (ix) amend, modify or waive any provision of Section 3 without the consent of each Issuing Lender; (x) add any
currencies as Foreign Currencies under this Agreement in which a Lender is required to make Loans, in each case without the written consent of each Lender directly affected thereby; (xi) consent to the assignment or transfer by any Borrower of
any of its rights and obligations under this Agreement and the other Loan Documents without the consent of each Lender directly affected thereby (other than as permitted by Section 10.6(a)); (xii) eliminate or reduce any voting rights under
this Section 10.1 without the consent of each Lender directly affected thereby; provided that, notwithstanding the foregoing, any (x) waiver (including with respect to a Default or Event of Default), amendment, supplement or other
modification with respect to Section 7.1(b) (or, for purposes of the Consolidated Interest Coverage Ratio Financial Covenant, the definition of “Consolidated Interest Coverage Ratio” or any defined term used therein) or (y) any
waiver or amendment of any condition precedent set forth in Section 5.2 as it pertains to any loans under the Revolving Facility shall require the written consent of only the Company and the Required Revolving Lenders (and not the Required
Lenders). Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Loan Parties, the Lenders, the Administrative Agent and all future holders of the Loans. In the
case of any waiver, the Loan Parties, the Lenders and the Administrative Agent shall be restored to their former position and rights hereunder and under the other Loan Documents, and any Default waived shall be deemed to be cured and not continuing;
but no such waiver shall extend to any subsequent or other Default, or impair any right consequent thereon. Any Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement and the other
Loan Documents shall be restricted as set forth in Section 2.28(d). 
 (b) 

(i) the Company and the Administrative Agent may enter into any Incremental Facility Amendment in accordance with
Section 2.27, any Extension Amendment in accordance with Section 2.26 and any Refinancing Amendment in accordance with Section 2.30 and such Extension Amendments, Incremental Facility Amendments and Refinancing Amendments shall be
effective to amend the terms of this Agreement and the other applicable Loan Documents, in each case, without any further action or consent of any other party to any Loan Document; and 

(ii) this Agreement and the other Loan Documents may be amended with the written consent of only the Administrative Agent and
the Borrowers to the extent necessary in order to evidence and implement the designation or removal of Subsidiary Borrowers pursuant to Section 2.29. 

(c) Notwithstanding the foregoing, the Administrative Agent, with the consent of the Borrowers, may amend, modify or supplement any Loan
Document without the consent of any Lender or the Required Lenders in order to correct, amend or cure any ambiguity, inconsistency or defect or correct any typographical error or other manifest error in any Loan Document and such amendment shall
become effective without any further action or consent of any other party to any Loan Document if the same is not objected to in writing by the Required Lenders within five Business Days following receipt of notice thereof. 

  
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 10.2. Notices. All notices, requests and demands to or upon the respective parties
hereto to be effective shall be in writing (including by telecopy), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered, or three Business Days after being deposited in the mail, postage
prepaid, or, in the case of telecopy notice, when received, addressed as follows in the case of the Company, the other Borrowers and the Administrative Agent, and as set forth in an Administrative Questionnaire delivered to the Administrative Agent
in the case of the Lenders, or to such other address as may be hereafter notified by the respective parties hereto: 
  

			
	The Company or any other Borrower:	  	Kontoor Brands, Inc., 400 N. Elm Street, 
Greensboro, NC 27401, Attn: Dave Kovach
		
	The Administrative Agent or the Collateral Agent:	  	 April Yebd
 Telephone: +1 312 732 2628

Fax: +1 844 490 5663
 jpm.agency.cri@jpmorgan.com

with a copy to
 april.yebd@jpmorgan.com

10 S. Dearborn St. Floor L2 Chicago, IL 60603

		
		  	or, in the case of Overnight LIBOR Loans:
		
		  	 European Loan Operations
 3rd Floor, Prestige
Platina, Near Marathahalli
 Junction, Sarjapur Outer Ring Road,

Kadabeesanahalli, Vathur Hobli, Bangalore –
 560087,
India
 Telephone: +91 80 679 05451
 Fax: +1 214 291 4365

E-Fax: 442074923297@tls.ldsprod.com
  

Email: european.loan.operations@jpmorgan.com
 with a copy to

loan_and_agency_london@jpmorgan.com

 provided that any notice, request or demand to or upon the Administrative Agent or the Lenders shall not be effective until
received. 
 10.3. No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of the
Administrative Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and
privileges provided by law. 
 10.4. Survival of Representations and Warranties. All representations and warranties made hereunder, in
the other Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Loans and other extensions of credit
hereunder until the respective maturity dates of the Facilities. 

  
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 10.5. Payment of Expenses. Each Borrower agrees (a) within 30 days following
presentation of a summary statement, to reimburse the Administrative Agent for its reasonable and invoiced out-of-pocket expenses that have been incurred in connection
with the development, preparation, execution, delivery and administration of, and any amendment, supplement, waiver or modification to, this Agreement and the other Loan Documents and the consummation of the Transactions contemplated hereby and
thereby (including the fees, charges and disbursements of one firm of counsel to the Administrative Agent and Lenders, as a whole, and of a single local counsel in each appropriate jurisdiction (which may include, a single special counsel acting in
multiple jurisdictions) for the Administrative Agent and Lenders, as a whole, (and, in the case of an actual or perceived conflict of interest, of another firm of counsel (and, if applicable, another local counsel in each appropriate jurisdiction)
for all similarly affected persons)) or the Issuing Lender in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder, (b) within 30 days following presentation of a summary
statement, to pay or reimburse each Lender (including each Swingline Lender), each Issuing Lender and the Administrative Agent for all its reasonable and invoiced
out-of-pocket costs and expenses incurred in connection with the enforcement or preservation of any rights under this Agreement, the other Loan Documents and any such
other documents, or Letters of Credit issued hereunder, including all such reasonable out-of-pocket expenses incurred during any workout, restructuring or negotiations
in respect of such Loans or Letters of Credit (including the fees, charges and disbursements of one firm of counsel to the Administrative Agent and Lenders, as a whole, and of a single local counsel in each appropriate jurisdiction (which may
include, a single special counsel acting in multiple jurisdictions) for the Administrative Agent and Lenders, as a whole, (and, in the case of an actual or perceived conflict of interest, of another firm of counsel (and, if applicable, another local
counsel in each appropriate jurisdiction) for all similarly affected persons)), and (c) to indemnify and hold harmless each Lender (including each Swingline Lender), each Issuing Lender, each Agent and the Administrative Agent and their
respective Affiliates and their respective directors, officers, employees, advisors, agents and other representatives (each, an “Indemnitee”) from and against any and all losses, claims, damages and liabilities to which any such
Indemnitee may become subject arising out of or in connection with this Agreement, any Loan Documents, the Transactions or any actual or prospective claim, litigation, investigation, arbitration or proceeding relating to any of the foregoing
(including in relation to enforcing the terms of this paragraph) (each, a “Proceeding”), regardless of whether any Indemnitee is a party thereto, whether or not such Proceedings are brought by the Company, its equity holders,
Affiliates, creditors or any other person, and to reimburse each Indemnitee from time to time, within 30 days following the presentation of a summary statement, for any reasonable and invoiced out-of-pocket legal expenses of one firm of counsel for all such Indemnitees, taken as a whole, and of a single local counsel in each appropriate jurisdiction (which may include a single special counsel
acting in multiple jurisdictions) for all such Indemnitees, taken as a whole (and, in the case of an actual or perceived conflict of interest, of another firm of counsel (and, if applicable, another firm of local counsel in each appropriate
jurisdiction) for all similarly affected Indemnitee), in connection with any of the foregoing, provided that the foregoing indemnity will not, as to any Indemnitee, apply to losses, claims, damages, liabilities or related expenses to the
extent they (i) are found by a final, non-appealable judgement of a court of competent jurisdiction to arise from the willful misconduct, bad faith or gross negligence of such Indemnitee or its
Affiliates, directors, officers, employees, advisors, agents or other representatives (collectively, the “Related Parties”), (ii) are found by a final, non-appealable judgement of a court of
competent jurisdiction to result from a material breach of the obligations of such Indemnitee or any such Indemnitee’s Related Parties under this Agreement or (iii) result from any Proceeding that does not involve an act or omission by the
Company or its Affiliates and that is brought by an Indemnitee or Related Party against any other Indemnitee or Related Party (other than any claims against any Indemnitee in its capacity or in fulfilling its role as an agent or arranger or any
similar role in connection with this Agreement). No Indemnitee shall be liable for any damages arising from the use by others of information or other materials obtained through electronic, telecommunications or other information transmission
systems, except to the extent any such damages are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee. To the fullest extent
permitted by applicable law, each party 

  
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hereto agrees that it shall not assert, and hereby waives, any claim against any other party hereto, the Company and any Indemnitee or any of their respective Affiliates or the respective
directors, officers, employees, advisors, and agents of the foregoing, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result
of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit, or the use of the proceeds thereof; provided that the foregoing shall not
limit the obligations of the Borrower under this Section 10.5 in respect of any such damages claimed against the indemnitees by Persons other than Indemnitees. The agreements in this Section 10.5 shall survive repayment of the Loans and
all other amounts payable hereunder and termination of this Agreement. This Section 10.5 shall not apply with respect to Taxes other than any Taxes that represent losses, claims or damages arising from any
non-Tax claim. 
 10.6. Successors and Assigns; Participations and Assignments. (a) This
Agreement shall be binding upon and inure to the benefit of the Borrowers, the Lenders, the Administrative Agent, all future holders of the Loans and their respective successors and assigns, except that no Borrower may assign or transfer any of its
rights or obligations under this Agreement without the prior written consent of each Lender (except in a transaction permitted by Section 7.4). 

(b) Any Lender may, without the consent of any Borrower or the Administrative Agent, in accordance with applicable law, at any time sell to one
or more banks, financial institutions or other entities other than an Ineligible Institution (each, a “Participant”) participating interests in any Loan owing to such Lender, any Commitment of such Lender or any other interest of
such Lender hereunder and under the other Loan Documents. In the event of any such sale by a Lender of a participating interest to a Participant, such Lender’s obligations under this Agreement to the other parties to this Agreement shall remain
unchanged, such Lender shall remain solely responsible for the performance thereof, such Lender shall remain the holder of any such Loan for all purposes under this Agreement and the other Loan Documents, the Participant will have no proprietary
interest in the benefit of this Agreement or in any monies received by the Lender under or in relation to this Agreement (including in the bankruptcy or similar event of the Lender) and the Borrowers, the Issuing Lenders, the other Lenders and the
Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement and the other Loan Documents. In no event shall any Participant under any such
participation have any right to approve any amendment or waiver of any provision of any Loan Document, or any consent to any departure by any Loan Party therefrom, except to the extent that such amendment, waiver or consent would reduce the
principal of or interest on, the Loans or any fees payable hereunder, postpone the date of any scheduled amortization payment or the final maturity of the Loans, in each case to the extent subject to such participation. Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and, other than as set forth in the preceding sentence, to approve any amendment,
modification or waiver of any provision of this Agreement or any other Loan Document. Each Borrower also agrees that each Participant shall be entitled to the benefits of Sections 2.20, 2.21 and 2.22 (subject to the requirements and limitations in
Section 2.21) with respect to its participation in the Commitments and the Loans outstanding from time to time as if it was a Lender; provided that such Participant (i) agrees to be subject to the provisions of Sections 2.23 and 2.24 as if
it were an assignee under paragraph (c) of this Section and (ii) shall not be entitled to receive any greater amount pursuant to Section 2.20 or 2.21 than the transferor Lender would have been entitled to receive in respect of the
amount of the participation transferred by such transferor Lender to such Participant had no such transfer occurred. Each Lender that sells a participation, acting solely for this purpose as a non-fiduciary
agent of the Borrowers, shall maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement
(the “Participant Register”); provided 

  
 145 

 
that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a
Participant’s interest in any Commitments, Loans, Letters of Credit or its other obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other
obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender,
each Loan Party and the Administrative Agent shall treat each person whose name is recorded in the Participant Register pursuant to the terms hereof as the owner of such participation for all purposes of this Agreement, notwithstanding notice to the
contrary. 
 As used herein, “Ineligible Institution” means (a) a natural person, (b) a Disqualified Lender,
(c) a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person or relative(s) thereof, (d) a Defaulting Lender or (e) any of the Company and its Subsidiaries and Affiliates.

 The Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or
enforce, compliance with the provisions hereof relating to Disqualified Lenders. Without limiting the generality of the foregoing, the Administrative Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any Lender or
participant or prospective Lender or participant is a Disqualified Lender or (y) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to any Disqualified
Lender. 
 (c) Any Lender (an “Assignor”) may, in accordance with applicable law, at any time and from time to time assign
(subject to clause (iii) of the proviso below) to any other Lender, any Affiliate of any Lender or any Lender Affiliate (other than any Ineligible Institution) or, with the consent of the Borrowers and the Administrative Agent (which, in each
case, shall not be unreasonably withheld or delayed), to an additional bank, financial institution or other entity other than an Ineligible Institution (an “Assignee”) all or any part of its rights and obligations under this
Agreement pursuant to an Assignment and Assumption, executed by such Assignee, such Assignor and any other Person whose consent is required pursuant to this paragraph, and delivered to the Administrative Agent for its acceptance and recording in the
Register; provided that (i) no such assignment to an Assignee (other than any Lender, any Affiliate of any Lender or any Lender Affiliate), unless otherwise agreed to by the Company and Administrative Agent, shall be in an aggregate principal
amount of less than $5,000,000 in the case of Revolving Commitments or $500,000 in the case of Term Loans (provided that assignments made by any Lender on the same day to an Assignee and its Affiliates (including any Lender Affiliates) and
contemporaneous assignments by Lender Affiliates to a single Assignee may be treated as a single assignment for purposes of satisfying any such minimum assignment amount requirement (other than in the case of an assignment of all of a Lender’s
interests under the applicable Facility)), (ii) after giving effect to any such assignment, such Lender and its Affiliates (including any Lender Affiliates) shall retain Commitments and Term Loans in an aggregate principal amount of at least
$5,000,000 in the case of Revolving Commitments and $500,000 in the case of Term Loans (other than in the case of an assignment of all of a Lender’s interests under the applicable Facility), in each case unless otherwise agreed by the
applicable Borrower(s) and the Administrative Agent, (iii) no Lender may assign any interest in the Revolving Facility (other than, with the consent of the Administrative Agent, not to be unreasonably withheld or delayed, to an Affiliate of
such Lender or, to another Lender then holding Revolving Commitments) without the consent of the Administrative Agent, the Borrowers, each Issuing Lender and the Swingline Lender (not to be unreasonably withheld or delayed), (iv) no Lender my
assign an interest in the Revolving Facility (unless such assignment is to a Swiss Qualifying Bank) without the consent of the Swiss Borrowers (not to be unreasonably withheld or delayed (it being understood that withholding consent to a proposed
assignment that would result in any non-compliance with the Swiss 

  
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Non-Bank Rules shall be deemed reasonable)), and (v) solely with respect to Term Loans, each Borrower shall be deemed to have consented to an
assignment if it has not objected thereto by written notice to the Administrative Agent within ten Business Days of its receipt of notice thereof. For purposes of the proviso contained in the preceding sentence, the amount described therein shall be
aggregated in respect of each Lender and its related Lender Affiliates, if any (other than in the case of an assignment of all of a Lender’s interests under this Agreement). Any such assignment need not be ratable as among the Facilities. Upon
such execution, delivery, acceptance and recording, from and after the effective date determined pursuant to such Assignment and Assumption, (x) the Assignee thereunder shall be deemed a party hereto and, to the extent provided in such
Assignment and Assumption, have the rights and obligations of a Lender hereunder with a Commitment and/or Loans as set forth therein, and (y) the Assignor thereunder shall, to the extent provided in such Assignment and Assumption, be released
from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of an Assignor’s rights and obligations under this Agreement, such Assignor shall cease to be a party hereto). Notwithstanding any
provision of this Section 10.6, the consent of the Borrowers shall not be required for any assignment that occurs when an Event of Default pursuant to Sections 8(a) or 8(f) shall have occurred and be continuing with respect to any Borrower.

 Notwithstanding the foregoing, the Borrowers may, in their sole discretion, withhold consent to any assignment to any Person that is not
expressly a Disqualified Lender but is known by such Borrower to be an Affiliate of a Disqualified Lender without regard as to whether such Person is identifiable as an Affiliate of a Disqualified Lender on the basis of such Affiliate’s name.

 (d) The Administrative Agent shall, on behalf of the Borrowers, maintain at its address referred to in Section 10.2, a copy of each
Assignment and Assumption delivered to it and a register (the “Register”) for the recordation of the names and addresses of the Lenders and the Commitment of, and the principal amount (and stated interest) of the Loans owing to,
each Lender from time to time. The entries in the Register shall be conclusive absent manifest error, and each Borrower, each other Loan Party, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register
as the owner of the Loans and any Notes evidencing the Loans recorded therein for all purposes of this Agreement. Any assignment of any Loan, whether or not evidenced by a Note, shall be effective only upon appropriate entries with respect thereto
being made in the Register (and each Note shall expressly so provide). Any assignment or transfer of all or part of a Loan evidenced by a Note shall be registered on the Register only upon surrender for registration of assignment or transfer of the
Note evidencing such Loan, accompanied by a duly executed Assignment and Assumption, and thereupon one or more new Notes shall be issued to the designated Assignee. The Register shall be available for inspection by any Lender at any reasonable time
and from time to time upon reasonable prior notice. 
 (e) Upon its receipt of an Assignment and Assumption executed by an Assignor, an
Assignee and any other Person whose consent is required by Section 10.6(c), together with payment to the Administrative Agent of a registration and processing fee of $3,500 (which shall not be an obligation of the Borrowers), the Administrative
Agent shall (i) promptly accept such Assignment and Assumption and (ii) record the information contained therein in the Register on the effective date determined pursuant thereto. 

(f) The Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire in which the Assignee
designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Company and its Affiliates and their related parties or their
respective securities) will be made available and who may receive such information in accordance with the assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

  
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 (g) For avoidance of doubt, the parties to this Agreement acknowledge that the provisions of
this Section 10.6 concerning assignments of Loans and Notes relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests, including any pledge or assignment by a Lender of any Loan or Note
to any Federal Reserve Bank or other central banking authority having jurisdiction over such Lender in accordance with applicable law. 
 (h)
Each applicable Borrower, upon receipt of written notice from the relevant Lender, agrees to issue Notes to any Lender requiring Notes to facilitate transactions of the type described in paragraph (g) above. 

(i) Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 10.6,
whether or not such assignment or transfer is reflected in the Register, shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (b) of this
Section 10.6. 
 (j) The Company shall have the right (i) at the sole expense of any Lender that is a Disqualified Lender and/or
the Person that assigned its Commitments and/or Loans to such Disqualified Lender or to any Lender to the extent the Borrower’s consent was requested pursuant to Section 10.6 and not obtained, to seek to replace or terminate such
Disqualified Lender or other Lender as a Lender by causing such Lender to (and such Lender shall be obligated to) assign (without recourse) any or all of its Commitments and/or Loans and its rights and obligations under this Agreement to one or more
assignees (which may, at the Company’s sole option, be or include the Company or any Subsidiary); provided that (1) the Administrative Agent shall not have any obligation to the Company to find such a replacement Lender, (2) the
Company shall not have any obligation to such Disqualified Lender or other Lender or any other Person to find such a replacement Lender or accept or consent to any such assignment to itself or any other Person and (3) the assignee (or, at its
option, the Company) shall pay to such Disqualified Lender or other Lender concurrently with such assignment an amount (which payment shall be deemed payment in full) equal to the lesser of (x) the face principal amount of the Commitments
and/or Loans so assigned and (y) the amount that such Disqualified Lender or other Lender paid to acquire such Commitments and/or Loans, in each case without interest thereon (it being understood that if the effective date of such assignment is
not an Interest Payment Date, such assignee shall be entitled to receive on the next succeeding Interest Payment Date interest on the principal amount of the Loans so assigned that has accrued and is unpaid from the Interest Payment Date last
preceding such effective date (except as may be otherwise agreed between such assignee and the Company)), or (ii) to prepay any Loans held by such Disqualified Lender or other Lender, in whole or in part, by paying an amount (which payment
shall be deemed payment in full) equal to the lesser of (x) the face principal amount of the Commitments and/or Loans so prepaid and (y) the amount that such Disqualified Lender or other Lender paid to acquire such Loans, (in each case
without interest thereon), and if applicable, terminate the Commitments of such Disqualified Lender, in whole or in part. In connection with any such replacement, (1) if the Disqualified Lender does not execute and deliver to the
Administrative Agent a duly completed Assignment and Assumption and/or any other documentation necessary or appropriate (in the good faith determination of the Administrative Agent or the Company, which determination shall be conclusive) to reflect
such replacement by the later of (a) the date on which the replacement Lender executes and delivers such Assignment and Assumption and/or such other documentation and (b) the date as of which the Disqualified Lender shall be paid by the
assignee Lender (or, at its option, the Company) the amount required pursuant to this Section 10.6(j), then such Disqualified Lender or other Lender shall be deemed to have executed and delivered such Assignment and Assumption and/or such other
documentation as of such date and the Company shall be entitled (but not obligated) to execute and deliver such Assignment and Assumption and/or such other documentation on behalf of such Disqualified Lender or other Lender, and the Administrative
Agent shall record such assignment in the Register, (2) each Lender (whether or not then a party hereto) agrees to disclose to the Company the amount that the applicable Disqualified 

  
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Lender paid to acquire Commitments and/or Loans from such Lender and (3) each Lender that is a Disqualified Lender or other Lender agrees to disclose to the Company the amount it paid to
acquire the Commitments and/or Loans held by it. The list of Disqualified Lenders shall be held by the Administrative Agent but shall not be posted or distributed to the Lenders, prospective Lenders and prospective Assignees and Participants;
provided that such list shall be provided to Lenders, prospective Lenders, prospective Assignees and prospective Participants upon request. 

(k) Notwithstanding anything to the contrary contained herein, any Lender may, at any time, assign all or a portion of its rights and
obligations under this Agreement in respect of its Term Loans to the Company, or any Subsidiary (each, an “Affiliated Lender”) through (x) Dutch auctions or other offers to purchase open to all Lenders on a pro
rata basis in accordance with procedures to be established by the “auction agent” consistent with this Section 10.6(k) or (y) open market purchases on a non-pro rata basis (which purchases
may be effected at any price as agreed between such Lender and such Affiliated Lender in their respective sole discretion); provided that: 

(i) any Term Loans acquired by any Affiliated Lender shall, to the extent permitted by applicable Requirements of Law, be
retired and cancelled immediately upon the acquisition thereof; provided that upon any such retirement and cancellation, the aggregate outstanding principal amount of the Term Loans shall be deemed reduced by the full par value of the aggregate
principal amount of the Term Loans so retired and cancelled; provided that to the extent any Term Loans acquired by any Affiliated Lender are not permitted to be retired and cancelled under applicable Requirements of Law, such Affiliated Lender
shall be deemed to have acknowledged and agreed that such Term Loans held by such Affiliated Lender shall be disregarded in both the numerator and denominator in the calculation of any Required Lender or other Lender vote and such Affiliated Lender,
solely in its capacity as an Affiliated Lender, will not be entitled to (x) attend (including by telephone) or participate in any meeting or discussion (or portion thereof) solely among the Administrative Agent or any Lender or among Lenders to
which the Loan Parties or their representatives are not invited or (y) receive any information or material prepared by the Administrative Agent or any Lender or any communication by or among the Administrative Agent and one or more Lenders;

 (ii) no Event of Default exists at the time of acceptance of bids for the Dutch Auction or the confirmation of such open
market purchase, as applicable, and purchases of Term Loans pursuant to this Section 10.6(k) may not be funded with the proceeds of Revolving Loans; and 

(iii) no Affiliated Lender shall be required to represent or warrant that it is not in possession of material non-public information with respect to the Borrower and/or any subsidiary thereof and/or their respective securities in connection with any assignment permitted by this Section 10.6(k). 

10.7. Adjustments; Set-off. (a) Except to the extent that (i) this Agreement expressly
provides for payments to be allocated to a particular Lender or to the Lenders under a particular Facility (including any payment obtained by a Lender as consideration for any permitted assignment of or permitted sale of a participation in any of
its Loans or Commitments hereunder) or (ii) a payment is made in respect of obligations under Lender Hedge Agreements or Cash Management Obligations, if any Lender (a “Benefitted Lender”) shall receive any payment of all or
part of the Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in
Section 8(f), or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of the Obligations owing to such other Lender, such Benefitted Lender shall purchase for cash from the
other Lenders a participating interest in such portion of the Obligations owing to each such other Lender, or shall provide such other 

  
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Lenders with the benefits of any such collateral, as shall be necessary to cause such Benefitted Lender to share the excess payment or benefits of such collateral ratably with each of the
Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such
recovery, but without interest; provided further, that to the extent prohibited by applicable law as described in the definition of “Excluded Swap Obligation,” no amounts received from, or set off with respect to, any Guarantor
shall be applied to any Excluded Swap Obligations of such Guarantor. 
 (b) In addition to any rights and remedies of the Lenders and the
Issuing Lenders provided by law, each Lender and each Issuing Lender shall have the right, without prior notice to any Borrower, any such notice being expressly waived by each Borrower to the extent permitted by applicable law, upon the occurrence
and during the continuance of an Event of Default, to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or
claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender, such Issuing Lender or, in each case, any Affiliate, branch or agency thereof to or for the
credit or the account of such Borrower, as the case may be. Each Lender and each Issuing Lender agrees promptly to notify each applicable Borrower and the Administrative Agent after any such setoff and application made by such Lender or such Issuing
Lender, provided that the failure to give such notice shall not affect the validity of such setoff and application. 
 10.8.
Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.
Delivery of an executed signature page of this Agreement by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof. A set of the copies of this Agreement signed by all the parties shall be lodged with the
Company and the Administrative Agent. 
 10.9. Severability. Any provision of this Agreement that is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or 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. 
 10.10. Integration. This Agreement and the other Loan
Documents represent the agreement of the Borrowers, the Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any Lender
relative to subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents. 
 10.11. GOVERNING
LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS WHETHER IN TORT,
CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  
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 10.12. Submission To Jurisdiction; Waivers. (a) Each party hereto hereby
irrevocably and unconditionally: 
 (i) submits for itself and its property in any legal action or proceeding relating to
this Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York in New York County, the courts of
the United States for the Southern District of New York in New York County, and appellate courts from any thereof; 
 (ii)
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; 
 (iii) agrees that service of process in any such action or
proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such party, as the case may be at its address set forth in Section 10.2 or at such other
address of which the other parties shall have been notified pursuant thereto; 
 (iv) agrees that nothing herein shall affect
the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and 

(v) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or
proceeding referred to in this Section any special, exemplary, punitive or consequential damages. 
 Nothing in this Agreement or in any
other Loan Document shall affect any right each party hereto may otherwise have to enforce any judgment in any action or proceeding relating to this Agreement in the courts of any jurisdiction. 

(b) Upon any Subsidiary becoming a Foreign Subsidiary Borrower, such Foreign Subsidiary Borrower hereby agrees to irrevocably and
unconditionally appoint the Company or an agent for service of process located in the City of New York (the “New York Process Agent”), reasonably satisfactory to the Administrative Agent, as its agent to receive on behalf of such
Foreign Subsidiary Borrower and its property service of copies of the summons and complaint and any other process which may be served in any action or proceeding in any such New York State or Federal court described in paragraph (a) of this
Section and agrees promptly to appoint a successor New York Process Agent in the City of New York (which successor New York Process Agent shall accept such appointment in a writing reasonably satisfactory to the Administrative Agent) prior to the
termination for any reason of the appointment of the initial New York Process Agent. In any such action or proceeding in such New York State or Federal court, such service may be made on such Foreign Subsidiary Borrower by delivering a copy of such
process to such Foreign Subsidiary Borrower in care of the New York Process Agent at the New York Process Agent’s address and by depositing a copy of such process in the mails by certified or registered air mail, addressed to such Foreign
Subsidiary Borrower at its address specified in the Joinder Agreement (such service to be effective upon such receipt by the New York Process Agent and the depositing of such process in the mails as aforesaid). Each Foreign Subsidiary Borrower
hereby irrevocably and unconditionally authorizes and directs the New York Process Agent to accept such service on its behalf. As an alternate method of service, each Foreign Subsidiary Borrower irrevocably and unconditionally consents to the
service of any and all process in any such action or proceeding in such New York State or Federal court by mailing of copies of such process to such Foreign Subsidiary Borrower by certified or registered air mail at its address specified in the
Joinder Agreement. Each Foreign Subsidiary Borrower agrees that, to the fullest extent permitted by applicable law, a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. 

  
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 To the extent that any Foreign Subsidiary Borrower has or hereafter may acquire any immunity
(sovereign or otherwise) from any legal action, suit or proceeding, from jurisdiction of any court or from set-off or any legal process (whether service or notice, attachment prior to judgment, attachment in
aid of execution of judgment, execution of judgment or otherwise) with respect to itself or any of its property, such Foreign Subsidiary Borrower hereby irrevocably waives and agrees not to plead or claim such immunity in respect of its obligations
under this Agreement or any other Loan Document. 
 10.13. [Reserved]. 

10.14. Releases of Guarantees and Liens. (a) The Administrative Agent, the Lenders and the Issuing Lenders irrevocably agree that
the Lien on any property and any related guarantee obligations will be automatically released (i) (1) to the extent necessary to permit consummation of any transaction not prohibited by any Loan Document (including in connection with the
Distribution and transactions related thereto), (2) upon any sale or transfer of Collateral or any other transaction permitted or not prohibited hereunder or under the Loan Documents to any Person that is not a Loan Party, (3) to the extent
property constituting Collateral is owned by any Guarantors, upon the release of such Guarantor from its obligations under the Guarantee Agreement or in accordance with the succeeding sentence, (4) so long as no Event of Default has occurred
and is continuing, to the extent the Collateral becomes Excluded Assets or a Guarantor becomes an Excluded Subsidiary in a transaction permitted hereunder, the primary purpose of which transaction is not to effect the release of such Guarantor or
any other Guarantor from its obligations under the Loan Documents, or a Guarantor ceases to be a Subsidiary in a transaction permitted hereunder or (5) that has been consented to in accordance with Section 10.1, (ii) under the
circumstances described in paragraph (b) below and (iii) upon the occurrence and during the continuation of a Suspension Period Event, in accordance with the provisions of Section 3.15(c) of the Guarantee Agreement and
Section 7.12(b), (f), (g) and (h) of the Collateral Agreement. Notwithstanding anything to the contrary contained herein or in any other Loan Document, the Administrative Agent and the Collateral Agent are hereby irrevocably authorized by
each Lender (without requirement of notice to or consent of any Lender except as expressly required by Section 10.1) to take any action (without consent rights) requested by the Company (including to execute and deliver any instruments,
documents, consents, acknowledgements, and agreements necessary or desirable to evidence or confirm the release of any Guarantor or Collateral pursuant to the foregoing provisions of this paragraph) having the effect of releasing any Collateral or
Loan Party from its guarantee obligations. 
 (b) The Administrative Agent, the Lenders and the Issuing Lenders irrevocably agree that at
such time as the Loans, the Reimbursement Obligations and the other obligations under the Loan Documents (other than obligations under or in respect of Lender Hedge Agreements, Lender Cash Management Obligations and contingent indemnity obligations
not due and payable) shall have been paid in full, the Commitments have been terminated and no Letters of Credit shall be outstanding (other than Letters of Credit that are cash collateralized or backstopped on terms reasonably satisfactory to the
applicable Issuing Lender), the Collateral shall be automatically released from the Liens created by the Security Documents, and the Security Documents and all guarantees and other obligations (other than those expressly stated to survive such
termination) of the Company and each Loan Party under the Security Documents shall automatically terminate, all without delivery of any instrument or performance of any act by any Person. 

(c) The Administrative Agent, the Lenders and the Issuing Lenders irrevocably agree that Liens on assets of the Loan Parties created by the
Loan Documents will be automatically terminated and released upon the transfer of such assets to a Foreign Subsidiary (other than a Foreign Subsidiary Borrower) pursuant to Section 7.5(r). The Administrative Agent and the Collateral Agent are
hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender) to take any action (without consent rights) (including to execute and deliver any instruments, documents, consents, acknowledgements, and
agreements necessary or desirable to evidence or confirm the release pursuant to the foregoing provisions of this paragraph) requested by the Company to effect any termination or release described in this paragraph (c). 

  
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 10.15. Confidentiality. Each of the Administrative Agent and each Lender and each of
their respective Affiliates agrees to keep confidential all information received by them in connection with the Transactions and the related transactions and information received from the Company relating to the Company or its business; provided
that nothing herein shall prevent the Administrative Agent or any Lender from disclosing any such Information (a) to the Administrative Agent, any other Lender, any Affiliate of any Lender or any Lender Affiliate (provided that any such Lender
Affiliate or Affiliate is advised of its obligation to retain such information as confidential, and such Administrative Agent or Lender shall be responsible for its Affiliates’ and Lender Affiliates’ compliance with this paragraph) solely
in connection with the Transactions, (b) to any pledgee referred to in Section 10.6(g), any Transferee or prospective Transferee or any insurance or risk protection providers (provided that in no event shall any disclosure of such
information be made to any person that is a Disqualified Lender as of the relevant time); provided that the disclosure of any such information to any such party (other than a Federal Reserve Bank or other central banking authority) shall be made
subject to the acknowledgment and acceptance by such party that such information is being disseminated on a confidential basis or customary market standards for dissemination of such type of information, (c) to its employees, legal counsel,
independent auditors, professionals and other experts or agents who are informed of the confidential nature thereof (provided that the Administrative Agent or Lender shall be responsible for compliance of such persons with this paragraph), (d) upon
the request or demand of any Governmental Authority, including audits and examinations conducted by bank accountants, any governmental bank regulatory authority exercising examination or regulatory authority or self-regulatory authorities, in which
case (except with respect to any audit or examination conducted by bank accountants or any governmental bank regulatory authority exercising examination or regulatory authority), such party will promptly notify the Company, in advance, to the extent
permitted by law, (e) in response to any order of any court or other Governmental Authority or as may otherwise be required pursuant to any Requirement of Law in which case, such party will promptly notify the Company, in advance, to the extent
permitted by law, (f) if requested or required to do so in connection with any litigation or similar proceeding in which case, such party will promptly notify the Company, in advance, to the extent permitted by law, (g) to the extent any
such information becomes publicly available other than by reason of disclosure by such Administrative Agent or Lender or its Affiliates or representatives in breach of this Agreement; (h) to any nationally recognized rating agency that requires
access to information about a Lender’s investment portfolio in connection with ratings issued with respect to such Lender, (i) in connection with the exercise of any remedy hereunder or under any other Loan Document; provided that the
disclosure of any such information to any such party shall be made subject to the acknowledgment and acceptance by such party that such information is being disseminated on a confidential basis or customary market standards for dissemination of such
type of information, (j) to any direct, indirect, actual or perspective counterparty (and its advisor) to any swap, derivative or securitization transaction related to any obligations or any insurance or risk protection providers in respect
thereof (so long as such party agrees to be bound by the provisions of this Section 10.15); provided that the disclosure of any such information to any such party shall be made subject to the acknowledgment and acceptance by such party that
such information is being disseminated on a confidential basis or customary market standards for dissemination of such type of information, (k) to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of
CUSIP numbers with respect to the Loans or (l) if agreed by the Company in its sole discretion, to any other Person; provided that no information shall be disclosed to a Disqualified Lender. The Administrative Agent, Arrangers and the Lenders
may disclose the existence of this Agreement and information about this Agreement that is routinely provided by arrangers to such service providers to market data service providers (including league table providers) that serve the lending industry.

  
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 Each Lender acknowledges that information furnished to it pursuant to this Agreement or the
other Loan Documents may include material non-public information concerning the Company and its Affiliates and their related parties or their respective securities, and confirms that it has developed
compliance procedures regarding the use of material non-public information and that it will handle such material non-public information in accordance with those
procedures and applicable law, including Federal and state securities laws. 
 All information, including requests for waivers and
amendments, furnished by the Company or the Administrative Agent pursuant to, or in the course of administering, this Agreement or the other Loan Documents will be syndicate-level information, which may contain material non-public information about the Company and its Affiliates and their related parties or their respective securities. Accordingly, each Lender represents to the Company and the Administrative Agent that it has
identified in its administrative questionnaire a credit contact who may receive information that may contain material non-public information in accordance with its compliance procedures and applicable law,
including Federal and state securities laws. 
 10.16. WAIVERS OF JURY TRIAL. THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 

10.17. Patriot Act. Each Lender that is subject to the requirements of the Patriot Act hereby notifies each Borrower and each Guarantor
that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies each Borrower, which information includes the name and address of each Borrower and each Guarantor and other information
that will allow such Lender to identify each Borrower and each Guarantor in accordance with the Patriot Act. 
 10.18. No Fiduciary
Duty. Each Borrower hereby acknowledges and agrees that (a) no fiduciary, advisory or agency relationship between the Loan Parties and the Credit Parties is intended to be or has been created in respect of any of the transactions
contemplated by this Agreement or the other Loan Documents, irrespective of whether the Credit Parties have advised or are advising the Loan Parties on other matters, (b) the Credit Parties, on the one hand, and the Loan Parties, on the other
hand, have an arm’s length business relationship that does not directly or indirectly give rise to, nor do any of the Loan Parties rely on, any fiduciary duty to any of the Loan Parties or their affiliates on the part of the Credit Parties,
(c) the Loan Parties are capable of evaluating and understanding, and the Loan Parties understand and accept, the terms, risks and conditions of the transactions contemplated by this Agreement and the other Loan Documents, (d) the Loan
Parties have been advised that the Credit Parties are engaged in a broad range of transactions that may involve interests that differ from the Loan Parties’ interests and that the Credit Parties have no obligation to disclose such interests and
transactions to the Loan Parties, (e) the Loan Parties have consulted their own legal, accounting, regulatory and tax advisors to the extent the Loan Parties have deemed appropriate, (f) each Credit Party has been, is, and will be acting
solely as a principal and, except as otherwise expressly agreed in writing by it and the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Loan Parties, any of their affiliates or any other
Person and (g) none of the Credit Parties has any obligation to the Loan Parties or their affiliates with respect to the transactions contemplated by this Agreement or the other Loan Documents except those obligations expressly set forth herein
or therein or in any other express writing executed and delivered by such Credit Party and the Loan Parties or any such affiliate. 

  
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 10.19. Usury. Notwithstanding anything to the contrary contained in any Loan
Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Rate”). If
Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excessive interest shall be applied to the principal of the Obligations or, if it exceeds the unpaid principal, refunded to the applicable
Borrower. In determining whether the interest contracted for, charged or received by Administrative Agent or any Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable law, (a) characterize any payment that is
not principal as an expense, fee or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate and spread, in equal or unequal parts, the total amount of interest throughout
the contemplated term of this Agreement. 
 10.20. Acknowledgement and Consent to Bail-In of EEA
Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial
Institution arising under any Loan Document may be subject to the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may
be payable to it by any party hereto that is an EEA Financial Institution; and 
 (b) the effects of any
Bail-In Action on any such liability, including, if applicable: 
 (i) a reduction in
full or in part or cancellation of any such liability; 
 (ii) a conversion of all, or a portion of, such liability into
shares or other instruments of ownership in such EEA Financial Institution, its Company entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by
it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or 
 (iii) the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority. 

10.21. Conversion of Currencies. (a) If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing
hereunder in one currency into another currency, each party hereto (including, upon any Subsidiary becoming a Subsidiary Borrower, such Subsidiary Borrower) agrees, to the fullest extent that it may effectively do so, that the rate of exchange used
shall be that at which, in accordance with normal banking procedures in the relevant jurisdiction, the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given.

 (b) The obligations of the Company and the Subsidiary Borrowers in respect of any sum due to any party hereto or any holder of the
obligations owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the
“Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with
normal banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement
Currency, the Company and the Subsidiary Borrowers agree, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of the Company and the Subsidiary Borrowers contained
in this Section 10.21 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder. 

  
 155 

 10.22. Separate Obligations. For the avoidance of doubt, the Administrative Agent,
each Issuing Lender, each Lender and each Loan Party acknowledges and agrees that, notwithstanding anything to the contrary in this Agreement or any of the other Loan Documents, the Obligations of the Foreign Loan Parties under this Agreement or any
of the other Loan Documents shall be separate and distinct from the Obligations of the Domestic Loan Parties, and the Obligations of the Foreign Loan Parties shall be expressly limited to the Obligations of the Foreign Subsidiary Borrowers (the
“Foreign Obligations”). In furtherance of the foregoing, each of the parties acknowledges and agrees that the liability of any Foreign Loan Party for the payment and performance of its covenants, representations and warranties set
forth in this Agreement and the other Loan Documents shall be several from and not joint with the Obligations of the Domestic Loan Parties (the “Domestic Obligations”); the Foreign Loan Parties shall not guarantee the Domestic
Obligations (including, for the avoidance of doubt, any guarantees by the Domestic Loan Parties of the Foreign Obligations). Notwithstanding anything to the contrary in this Agreement or any of the other Loan Documents, the Obligations of the each
Swiss Borrower under this Agreement or any of the other Loan Documents shall be separate and distinct from the Obligations of each other Loan Party, and the Obligations of each Swiss Borrower shall be expressly limited to its own Obligations. In
furtherance of the foregoing, each of the parties acknowledges and agrees that the liability of each Swiss Borrower for the payment and performance of its covenants, representations and warranties set forth in this Agreement and the other Loan
Documents shall be several and not joint with the Obligations of each other Loan Party. Notwithstanding the above, the Domestic Loan Parties shall guarantee the payment and performance of the Foreign Obligations, and the Collateral of the Domestic
Loan Parties shall secure such guarantees, in each case as set forth in and in accordance with the applicable Security Documents. 
 10.23.
Several Obligations. The respective obligations of the Lenders under this Agreement are several and not joint and no Lender shall be responsible for the failure of any other Lender to satisfy its obligations hereunder. 

10.24. MIRE Events. In connection with any amendment to this Agreement pursuant to which any increase, extension or renewal of Loans is
contemplated, the Borrowers shall cause to be delivered to the Administrative Agent for any Mortgaged Property, a completed “life of the loan” Federal Emergency Management Agency Standard Flood Hazard Determination and for any Mortgaged
Property with a building in a special flood hazard area, an acknowledgment by the applicable Loan Party, and evidence of flood insurance, as may be required pursuant to the Flood Laws. 

[Remainder of page intentionally left blank] 

  
 156 

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

			
	JPMORGAN CHASE BANK, N.A.,
		 	as Administrative Agent, Collateral Agent, Tranche A Term Lender, Revolving Lender, Issuing Lender and Swingline Lender,
		
	By:	 	 /s/ Antje Focke

		 	Name: Antje Focke
		 	Title:   Executive Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	BARCLAYS BANK PLC
		 	as a Term Lender, Revolving Lender and Issuing Lender
		
	By:	 	 /s/ Ritam Bhalla

		 	Name: Ritam Bhalla
		 	Title:   Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	BANK OF AMERICA, N.A.
		 	as a Term Lender, Revolving Lender and Issuing Lender
		
	By:	 	 /s/ Anthony Hoye

		 	Name: Anthony Hoye
		 	Title:   Director

  

			
	BANK OF AMERICA, N.A., CANADA BRANCH
		 	as a Revolving Lender
		
	By:	 	 /s/ Medina Sales de Andrade

		 	Name: Medina Sales de Andrade
		 	Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	HSBC BANK USA, NATIONAL ASSOCIATION
		 	as a Tranche A Term Lender, Revolving Lender and Issuing Lender
		
	By:	 	 /s/ Alan Vitulich

		 	Name: Alan Vitulich
		 	Title:   Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		 	as Tranche A Term Lender, Revolving Lender and Issuing Lender
		
	By:	 	 /s/ Ekta Patel

		 	Name: Ekta Patel
		 	Title:   Managing Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 CITIBANK, N.A. as a Tranche A Term Lender and a Revolving Credit
Lender

		
	By:	 	 /s/ Timicka Anderson

	 Name: Timicka Anderson

	 Title:   Vice President & Managing Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 ING BANK N.V., DUBLIN BRANCH, as a Tranche A Term Lender AND Revolving
Lender

		
	By:	 	 /s/ Sean Hassett

	 Name: Sean Hassett

	 Title:   Director

		
	By:	 	 /s/ Shaun Hawley

	 Name: Shaun Hawley

	 Title:   Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 PNC Bank, N.A., as a Tranche A Term Lender and Revolving Lender

		
	By:	 	 /s/ Krutesh Trivedi

	 Name: Krutesh Trivedi

	 Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 Santander Bank, N.A., as Tranche A Term Lender, Revolving Lender

		
	By:	 	 /s/ Ellen B. Marshall

	 Name: Ellen B. Marshall

	 Title:   EVP

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 SUNTRUST BANK,

as a Tranche A Term Lender and Revolving Lender

		
	By:	 	 /s/ Mary K. Lundin

	 Name: Mary K. Lundin

	 Title:   Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 Branch Banking and Trust Company, 
as a Tranche A Term Lender &
Revolving Lender

		
	By:	 	 /s/ Steven Thompson

	 Name: Steven Thompson

	 Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 Citizens Bank, N.A., 
as a Tranche A Term Lender and Revolving
Lender

		
	By:	 	 /s/ Tyler Stephens

	 Name: Tyler Stephens

	 Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 United Overseas Bank Limited, Los Angeles Agency, 
as a Tranche A Term Lender
and Revolving Lender

		
	By:	 	 /s/ Eriberto De Guzman

	 Name: Eriberto De Guzman

	 Title:   Managing Director

		
	By:	 	 /s/ Robert Hartinger

	 Name: Robert Hartinger

	 Title:   Executive Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 
as a Tranche A Term Lender and
Revolving Lender

		
	By:	 	 /s/ John D. Toronto

	 Name: John D. Toronto

	 Title:   Authorized Signatory

		
	By:	 	 /s/ Andrew Griffin

	 Name: Andrew Griffin

	 Title:   Authorized Signatory

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 FIFTH THIRD BANK, 
as a Tranche A Term Lender

		
	By:	 	 /s/ Mary J. Ramsey

	 Name: Mary J. Ramsey

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 FIFTH THIRD BANK, 
as a Revolving Lender

		
	By:	 	 /s/ Mary J. Ramsey

	 Name: Mary J. Ramsey

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 GOLDMAN SACHS BANK, USA 
as a Revolving Lender

		
	By:	 	 /s/ Annie Carr

	 Name: Annie Carr

	 Title: Authorized Signatory

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 THE HUNTINGTON NATIONAL BANK, 
as a Tranche A Term Lender and Revolving
Lender

		
	By:	 	 /s/ Martin H. McGinty

	 Name: Martin H. McGinty

	 Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 KBC Bank NV, New York Branch, 
as a Tranche A Term Lender and Revolving
Lender

		
	By:	 	 /s/ Francis X. Payne

	 Name: Francis X. Payne

	 Title:   Managing Director

		
	By:	 	 /s/ Susan M. Silver

	 Name: Susan M. Silver

	 Title:   Managing Director

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 TD Bank, N.A., 
as a Tranche A Term Lender and Revolving Lender

		
	By:	 	 /s/ Betty Chang

	 Name: Betty Chang

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 U.S. Bank, National Association, 
as a Tranche A Term Lender, Revolving
Lender, and Issuing Lender

		
	By:	 	 /s/ Mark D. Rodgers

	 Name: Mark D. Rodgers

	 Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 CHEMICAL BANK, 
as a Tranche A Term Lender

		
	By:	 	 /s/ Jennifer Dakoske

	 Name: Jennifer Dakoske

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 First National Bank of Pennsylvania, 
as a Tranche A Term Lender

		
	By:	 	 /s/ John Fink

	 Name: John Fink

	 Title:   SVP Commercial Banking

		
	By:	 	 /s/ Reed LaPlante

	 Name: Reed LaPlante

	 Title:   VP Commercial Banking

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 First Tennessee Bank, N.A. 
as a Tranche A Term Lender

		
	By:	 	 /s/ Keith A. Sherman

	 Name: Keith A. Sherman

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 PINNACLE BANK, as Tranche A Term Lender

		
	By:	 	 /s/ Stewart D. Holmes

	 Name: Stewart D. Holmes

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 STATE BANK OF INDIA, NEW YORK, as a Tranche A Term Lender

		
	By:	 	 /s/ Mr. Niraj Kumar Panda

	 Name: Mr. Niraj Kumar Panda

	 Title:   VP & Head (Credit Management Cell)

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 Allied Irish Bank, as Tranche A Term Lender

		
	By:	 	 /s/ Roisin O’Connell

	 Name: Roisin O’Connell

	 Title:   Senior Vice President

		
	By:	 	 /s/ Paul McGinley

	 Name: Paul McGinley

	 Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 Arvest Bank, as Tranche A Term Lender

		
	By:	 	 /s/ Kevin J. Rooney

	 Name: Kevin J. Rooney

	 Title:   SVP

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 SYNOVUS BANK,

as a Tranche A Term Lender, Revolving Lender

		
	By:	 	 /s/ Chandra Cockrell

	 Name: Chandra Cockrell

	 Title:   Corporate Banker

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 COMERICA BANK, as a Tranche A Term Lender and Revolving Lender

		
	By:	 	 /s/ L.J. Perenyi

	 Name: L.J. Perenyi

	 Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 FLUSHING BANK, 
as a Tranche A Term Lender

		
	By:	 	 /s/ Alan Harris

	 Name: Alan Harris

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 Trustmark National Bank 
as Tranche A Term Lender

		
	By:	 	 /s/ William H. Edwards

	 Name: Alan Harris

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 BANCO DE SABADELL, S.A., MIAMI BRANCH, 
as a Tranche A Term Lender

		
	By:	 	 /s/ Enrique Castillo

	 Name: Enrique Castillo

	 Title:   Head of Corporate Banking

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 Banner Bank, 
as a Tranche A Term Lender

		
	By:	 	 /s/ Thomas Marks

	 Name: Thomas Marks

	 Title:   Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 LIBERTY BANK, 
as a Tranche A Term Lender

		
	By:	 	 /s/ Carla Balesano

	 Name: Carla Balesano

	 Title:   Senior Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 Atlantic Capital Bank, N.A. 
as a Tranche A Term Lender

		
	By:	 	 /s/ Richard A. Oglesley Jr

	 Name: Richard A. Oglesley Jr

	 Title:   Executive Vice President

  
 [Signature Page to Kontoor
Brands, Inc. Credit Agreement] 

 
			
	 MidFirst Bank, 
as a Tranche A Term Lender

		
	By:	 	 /s/ Tim Daniels

	 Name: Tim Daniels

	 Title:   Managing Director

  
  

[Signature Page to Kontoor Brands, Inc. Credit Agreement] 

 Accepted and agreed to as of the date first written above: 

 

			
	KONTOOR BRANDS, INC.
		
	By:	 	 /s/ David Kovach

		 	Name: David Kovach
		 	Title:   Vice President and Treasurer

  

			
	LEE WRANGLER INTERNATIONAL SAGL
		
	By:	 	 /s/ Matthew Puckett

		 	Name: Matthew Puckett
		 	Title:   Managing Officer

  
 [Signature Page to Kontoor Brands,
Inc. Credit Agreement] 

 Annex A 

PRICING GRID FOR REVOLVING FACILITY (INCLUDING SWINGLINE LOANS) AND TRANCHE A TERM FACILITY 

 

																	
	 Level
	  	 Corporate

Rating
	  	 Total

Leverage
 Ratio
	  	Applicable
Margin
for Eurodollar
Loans /
Overnight
LIBOR Loans /
CDOR Loans	 	 	Applicable
Margin for
ABR Loans /
Canadian
Prime Rate
Loans	 	 	Commitment
Fee Rate	 
	 I
	  	3 Baa3 / BBB-	  	£ 0.50:1.00	  	 	1.375	% 	 	 	0.375	% 	 	 	0.20	% 
	 II
	  	Ba1 / BB+	  	> 0.50:1.00 but £ 1.50:1.00	  	 	1.50	% 	 	 	0.50	% 	 	 	0.25	% 
	 III
	  	Ba2 / BB	  	> 1.50:1.00 but £ 2.50:1.00	  	 	1.75	% 	 	 	0.75	% 	 	 	0.30	% 
	 IV
	  	Ba 3/ BB-	  	> 2.50:1.00 but £ 3.50:1.00	  	 	2.00	% 	 	 	1.00	% 	 	 	0.35	% 
	 V
	  	£ B1/ B+	  	> 3.50:1.00	  	 	2.25	% 	 	 	1.25	% 	 	 	0.40	% 

 The Level applicable for determining pricing (the “Pricing Level”) shall be the higher of the
Applicable Corporate Rating Level (as defined below) and the Total Leverage Ratio Level (determined as of each Adjustment Date (defined below)) then applicable (it being understood that Level I is the “highest” Level); provided that
if the Applicable Corporate Rating Level and the Total Leverage Ratio Level then applicable fall more than one Level apart, the Pricing Level shall be the Level immediately below the higher of the two. The “Applicable Corporate Rating
Level” shall mean (i) if the corporate ratings of each of S&P and Moody’s fall within the same Level, such Level, (ii) if the corporate ratings of each of S&P and Moody’s fall one Level apart, the higher of such
Levels and (iii) if the corporate ratings of each of S&P and Moody’s fall more than one Level apart, the Level immediately below the higher of the two; provided that if only one rating agency shall have in effect a corporate
rating (other than by reason of the circumstances referred to in the last sentence of this paragraph), then the Applicable Corporate Rating Level shall be determined by reference to the Level in which such rating falls; provided further that
if neither S&P nor Moody’s has in effect a corporate rating (other than by reason of the circumstances referred to in the last sentence of this paragraph), then the Applicable Corporate Rating Level shall be deemed to be Level V. If the
ratings established or deemed to have been established by a rating agency shall be changed (other than as a result of a change in the rating system of such rating agency), such change shall be effective as of the date on which it is first announced
by the applicable rating agency, irrespective of when notice of such change shall have been furnished by the Company to the Administrative Agent and the Lenders, and each change in the Pricing Level as a result thereof shall apply during the period
commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of S&P or Moody’s shall change, or if any such rating agency shall cease to be in
the business of providing corporate ratings, the Company and the Lenders shall negotiate in good faith an amendment to reflect such changed rating system or the unavailability of corporate ratings from such rating agency and, pending the
effectiveness of any such amendment, the Pricing Level shall be determined by reference to the corporate rating of such rating agency most recently in effect prior to such change or cessation. 

  
 Annex A-1 

 Changes in the Applicable Margin with respect to Revolving Loans, Swingline Loans, Tranche A
Term Loans or the Commitment Fee Rate resulting from changes in the Total Leverage Ratio shall become effective on the date (the “Adjustment Date”) on which financial statements have been delivered pursuant to Section 6.1 for
the most recently ended fiscal quarter or fiscal year of the Borrower, as applicable, commencing with the first full fiscal quarter of the Borrower following the Closing Date, and shall remain in effect until the next change to be effected pursuant
to this paragraph. If any financial statements referred to above are not delivered within the time periods specified above, then, until such financial statements have been delivered (or an earlier date, in the reasonable discretion of the
Administrative Agent), the Total Leverage Ratio as at the end of the fiscal period that would have been covered thereby shall for purposes of this definition be deemed to be Level V. Each determination of the Total Leverage Ratio pursuant to this
pricing grid shall be made with respect to (or, in the case of clause (a) of the definition thereof, as at the end of) the Test Period ending at the end of the period covered by the relevant financial statements. 

  
 Annex A-2 

 SCHEDULE 1.1A 

COMMITMENTS 

Revolving and Tranche A Term Commitments 
  

													
	 Name of Lender
	  	Revolving
Commitment	 	  	Tranche A Term
Commitment	 	  	Total	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	43,800,000.00	 	  	$	55,000,000.00	 	  	$	98,800,000.00	 
	 BARCLAYS BANK PLC
	  	$	43,800,000.00	 	  	$	55,000,000.00	 	  	$	98,800,000.00	 
	 BANK OF AMERICA, N.A.
	  	$	43,800,000.00	 	  	$	55,000,000.00	 	  	$	98,800,000.00	 
	 HSBC BANK USA, NATIONAL ASSOCIATION
	  	$	43,800,000.00	 	  	$	55,000,000.00	 	  	$	98,800,000.00	 
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
	  	$	43,800,000.00	 	  	$	55,000,000.00	 	  	$	98,800,000.00	 
	 BNP PARIBAS
	  	$	22,000,000.00	 	  	$	33,000,000.00	 	  	$	55,000,000.00	 
	 CITIBANK, N.A.
	  	$	22,000,000.00	 	  	$	33,000,000.00	 	  	$	55,000,000.00	 
	 ING BANK N.V., DUBLIN BRANCH
	  	$	22,000,000.00	 	  	$	33,000,000.00	 	  	$	55,000,000.00	 

													
	 PNC BANK, NATIONAL ASSOCIATION
	  	$	22,000,000.00	 	  	$	33,000,000.00	 	  	$	55,000,000.00	 
	 SANTANDER BANK, N.A.
	  	$	22,000,000.00	 	  	$	33,000,000.00	 	  	$	55,000,000.00	 
	 SUNTRUST BANK
	  	$	22,000,000.00	 	  	$	33,000,000.00	 	  	$	55,000,000.00	 
	 BRANCH BANKING AND TRUST COMPANY
	  	$	14,000,000.00	 	  	$	21,000,000.00	 	  	$	35,000,000.00	 
	 CITIZENS BANK, N.A.
	  	$	14,000,000.00	 	  	$	21,000,000.00	 	  	$	35,000,000.00	 
	 UNITED OVERSEAS BANK, LOS ANGELES AGENCY
	  	$	14,000,000.00	 	  	$	21,000,000.00	 	  	$	35,000,000.00	 
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
	  	$	25,000,000.00	 	  	$	0.00	 	  	$	25,000,000.00	 
	 FIFTH THIRD BANK
	  	$	10,000,000.00	 	  	$	15,000,000.00	 	  	$	25,000,000.00	 
	 GOLDMAN SACHS BANK USA
	  	$	25,000,000.00	 	  	$	0.00	 	  	$	25,000,000.00	 
	 THE HUNTINGTON NATIONAL BANK
	  	$	10,000,000.00	 	  	$	15,000,000.00	 	  	$	25,000,000.00	 
	 KBC BANK N.V., NEW YORK BRANCH
	  	$	10,000,000.00	 	  	$	15,000,000.00	 	  	$	25,000,000.00	 
	 TD BANK, N.A.
	  	$	10,000,000.00	 	  	$	15,000,000.00	 	  	$	25,000,000.00	 
	 U.S. BANK NATIONAL ASSOCIATION
	  	$	10,000,000.00	 	  	$	15,000,000.00	 	  	$	25,000,000.00	 
	 CHEMICAL BANK
	  	$	0.00	 	  	$	15,000,000.00	 	  	$	15,000,000.00	 

  
 2 

													
	 FIRST NATIONAL BANK OF PENNSYLVANIA
	  	$	0.00	 	  	$	15,000,000.00	 	  	$	15,000,000.00	 
	 FIRST TENNESSEE BANK, NA
	  	$	0.00	 	  	$	15,000,000.00	 	  	$	15,000,000.00	 
	 PINNACLE BANK
	  	$	0.00	 	  	$	15,000,000.00	 	  	$	15,000,000.00	 
	 STATE BANK OF INDIA, NEW YORK
	  	$	0.00	 	  	$	15,000,000.00	 	  	$	15,000,000.00	 
	 ALLIED IRISH BANK
	  	$	0.00	 	  	$	10,000,000.00	 	  	$	10,000,000.00	 
	 ARVEST BANK
	  	$	0.00	 	  	$	10,000,000.00	 	  	$	10,000,000.00	 
	 SYNOVUS BANK
	  	$	4,000,000.00	 	  	$	6,000,000.00	 	  	$	10,000,000.00	 
	 COMERICA BANK
	  	$	3,000,000.00	 	  	$	4,500,000.00	 	  	$	7,500,000.00	 
	 FLUSHING BANK
	  	$	0.00	 	  	$	7,500,000.00	 	  	$	7,500,000.00	 
	 TRUSTMARK NATIONAL BANK
	  	$	0.00	 	  	$	7,500,000.00	 	  	$	7,500,000.00	 
	 BANCO DE SABADELL, S.A., MIAMI BRANCH
	  	$	0.00	 	  	$	5,000,000.00	 	  	$	5,000,000.00	 
	 BANNER BANK
	  	$	0.00	 	  	$	5,000,000.00	 	  	$	5,000,000.00	 
	 LIBERTY BANK
	  	$	0.00	 	  	$	3,500,000.00	 	  	$	3,500,000.00	 
	 ATLANTIC CAPITAL BANK, N.A.
	  	$	0.00	 	  	$	2,500,000.00	 	  	$	2,500,000.00	 
	 MIDFIRST BANK
	  	$	0.00	 	  	$	2,500,000.00	 	  	$	2,500,000.00	 
	 Total
	  	$	500,000,000.00	 	  	$	750,000,000.00	 	  	$	1,250,000,000.00	 

  
 3 

 L/C Commitments 

 

					
	 Issuing Lender
	  	L/C Commitment	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	15,000,000.00	 
	 BARCLAYS BANK PLC
	  	$	15,000,000.00	 
	 BANK OF AMERICA, N.A.
	  	$	15,000,000.00	 
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
	  	$	15,000,000.00	 
	 HSBC BANK USA, NATIONAL ASSOCIATION
	  	$	15,000,000.00	 
	 Total
	  	$	75,000,000.00	* 

  

	*	 L/C Commitments subject to limit set forth Section 3.1(a) of the Credit Agreement. 

Tranche B Term Commitments 
  

					
	 Name of Lender
	  	Tranche B Term
Commitment	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	300,000,000.00	 
	 Total
	  	$	300,000,000.00	 

  
 4 

 SCHEDULE 1.1B 

MORTGAGED PROPERTY 
 None 

  
 5 

 SCHEDULE 1.1C 

EXISTING LETTERS OF CREDIT 
 None 

  
 6 

 SCHEDULE 1.1D 

PERMITTED CASH POOLING AGREEMENTS 

Cash Pool Agreement, dated as of February 21, 2019 among Bank Mendes Gans, N.V. and LeeWrangler Belgium Services BVBA and related
Guarantee to Cash Pool Agreement dated April 26, 2019 by and among Kontoor Brands, Inc. and Bank Mendes Gans N.V. 

  
 i 

 SCHEDULE 1.1E 

LOAN PARTIES 
  

			
	 Loan Party
	  	 Jurisdiction

	Kontoor Brands, Inc.	  	North Carolina
		
	Lee Wrangler International Sagl*	  	Switzerland*
		
	RETAIL PRODUCTIVITY MANAGEMENT, INC.	  	Delaware
		
	VF Jeanswear Sales, Inc.	  	Delaware
		
	VF Outlet, Inc.	  	Delaware
		
	Kontoor Enterprises, LLC	  	Delaware
		
	The H.D. Lee Company, Inc.	  	Delaware
		
	R&R Apparel Company, LLC	  	Delaware
		
	VFJ Ventures, LLC	  	Delaware
		
	Wrangler Apparel Corp.	  	Delaware
		
	Jeanswear Receivables, LLC	  	Delaware
		
	Jeanswear Services, LLC	  	Delaware
		
	Jeanswear Ventures, LLC	  	Delaware
		
	VF Jeanswear Limited Partnership	  	Delaware

  

	*	 Not a subsidiary guarantor. Co-Borrower only. 

  
 ii 

 SCHEDULE 1.1F 

EXCLUDED SUBSIDIARIES 

Lee Bell, Inc. and its subsidiaries 

  
 iii 

 SCHEDULE 4.4 

CONSENTS, AUTHORIZATIONS, FILINGS AND NOTICES 

None. 

  
 i 

 SCHEDULE 4.15 

SUBSIDIARIES 
  

							
	 SUBSIDIARY NAME
	  	PERCENTAGE
OF EACH
CLASS OF
CAPITAL
STOCK OWNED
BY ANY LOAN
PARTY	 	 	JURISDICTION
OF
FORMATION
	 KBI International Holdings, LLC
	  	 	100	% 	 	Delaware
	 Retail Productivity Management, Inc.
	  	 	100	% 	 	Delaware
	 VF Jeanswear Sales, Inc.
	  	 	100	% 	 	Delaware
	 VF Outlet, Inc.
	  	 	100	% 	 	Delaware
	 Kontoor Enterprises, LLC
	  	 	100	% 	 	Delaware
	 The H.D. Lee Company, Inc.
	  	 	100	% 	 	Delaware
	 R&R Apparel Company, LLC
	  	 	100	% 	 	Delaware
	 VFJ Ventures, LLC
	  	 	100	% 	 	Delaware
	 Wrangler Apparel Corp.
	  	 	100	% 	 	Delaware
	 Jeanswear Receivables, LLC
	  	 	100	% 	 	Delaware
	 Jeanswear Services, LLC
	  	 	100	% 	 	Delaware
	 Jeanswear Ventures, LLC
	  	 	100	% 	 	Delaware
	 VF Jeanswear Limited Partnership
	  	 	100	% 	 	Delaware
	 Manufacturera Lee De Mexico S. de R.L. de C.V.
	  	 	100	% 	 	Mexico
	 WRANGLER DE CHIHUAHUA S. de R.L. de C.V.
	  	 	100	% 	 	Mexico
	 20X DE MEXICO S.A. de C.V.
	  	 	100	% 	 	Mexico
	 WRANGLER DE MEXICO S. de R.L. de C.V.
	  	 	100	% 	 	Mexico
	 VFJ–CSS De Mexico, S.A. de C.V.
	  	 	100	% 	 	Mexico
	 Jeanswear de Guatemala, Limitada (Sociedad Anonima)
	  	 	100	% 	 	Guatemala
	 LeeWrangler Transglobal Sagl
	  	 	100	% 	 	Switzerland
	 LeeWrangler Enterprises SpinCo Sagl
	  	 	0	% 	 	Switzerland
	 LeeWrangler MMB Investments Sagl
	  	 	0	% 	 	Switzerland
	 LeeWrangler Investments Holding Sagl
	  	 	0	% 	 	Switzerland
	 LeeWrangler WH Sourcing Sagl
	  	 	0	% 	 	Switzerland
	 LeeWrangler Asia Ltd
	  	 	0	% 	 	Hong Kong
	 LeeWrangler HK Ltd
	  	 	0	% 	 	Hong Kong
	 LeeWrangler International Sagl
	  	 	0	% 	 	Switzerland
	 LeeWrangler Switzerland Holding Sagl
	  	 	0	% 	 	Switzerland
	 LeeWrangler Apparel (Foshan) Ltd.
	  	 	0	% 	 	China
	 VF Panama Finance S de RL
	  	 	0	% 	 	Panama
	 VF Canada Co.
	  	 	0	% 	 	Canada
	 LeeWrangler Apparel (China) Ltd.
	  	 	0	% 	 	China
	 LeeWrangler Apparel (Shanghai) Ltd.
	  	 	0	% 	 	China
	 LeeWrangler Mexico Holding Sagl
	  	 	0	% 	 	Switzerland
	 VF Jeanswear Nicaragua y Compania Limitada
	  	 	0	% 	 	Nicaragua

  
 ii 

							
	 SUBSIDIARY NAME
	  	PERCENTAGE
OF EACH
CLASS OF
CAPITAL
STOCK OWNED
BY ANY LOAN
PARTY	 	 	JURISDICTION
OF FORMATION
	 LeeWrangler Belgium Services BVBA
	  	 	0	% 	 	Belgium
	 VF Mauritius Limited
	  	 	0	% 	 	Mauritius
	 Jeanswear Mexico Holdings, LLC
	  	 	0	% 	 	Delaware
	 VF Brands India Private Limited
	  	 	0	% 	 	India
	 VF Jeanswear de Mexico S. de R.L. de C.V.
	  	 	0	% 	 	Mexico
	 VF Internacional S de RL de CV
	  	 	0	% 	 	Mexico
	 VF Servicos Mexicana, S. de R.L. de C.V.
	  	 	0	% 	 	Mexico
	 LeeWrangler Austria GmbH
	  	 	0	% 	 	Austria
	 LeeWrangler Belgium BVBA
	  	 	0	% 	 	Belgium
	 LeeWrangler Czech Republic s.r.o.
	  	 	0	% 	 	Czech Republic
	 LeeWrangler Poland sp. z o.o.
	  	 	0	% 	 	Poland
	 LeeWrangler France S.A.S.
	  	 	0	% 	 	France
	 LeeWrangler Hellas IKE sole member
	  	 	0	% 	 	Greece
	 LeeWrangler Hungary KFT
	  	 	0	% 	 	Hungary
	 LeeWrangler Netherlands B.V.
	  	 	0	% 	 	Netherlands
	 Czech Distribution Services s.r.o.
	  	 	0	% 	 	Czech Republic
	 LeeWrangler Sweden AB
	  	 	0	% 	 	Sweden
	 LeeWrangler Portugal Lda
	  	 	0	% 	 	Portugal
	 UK Guarantee NewCo
	  	 	0	% 	 	United Kingdom
	 LeeWrangler Spain S.L.U.
	  	 	0	% 	 	Spain
	 LeeWrangler Netherlands Retail B.V.
	  	 	0	% 	 	Netherlands
	 LeeWrangler Slovakia s.r.o.
	  	 	0	% 	 	Slovakia
	 LeeWrangler Italy Holding S.r.l.
	  	 	0	% 	 	Italy
	 LeeWrangler Germany GmbH
	  	 	0	% 	 	Germany
	 LeeWrangler U.K. Limited
	  	 	0	% 	 	United Kingdom
	 LeeWrangler Italy Retail S.r.l.
	  	 	0	% 	 	Italy
	 LeeWrangler Italy S.r.l.
	  	 	0	% 	 	Italy

  
 iii 

 SCHEDULE 4.19(a) 

FINANCING STATEMENTS / FILING OFFICES 
  

			
	 GRANTOR
	  	
            FILING
OFFICE            

	Kontoor Brands, Inc.	  	North Carolina
	RETAIL PRODUCTIVITY MANAGEMENT, INC.	  	Delaware
	VF Jeanswear Sales, Inc.	  	Delaware
	VF Outlet, Inc.	  	Delaware
	Kontoor Enterprises, LLC	  	Delaware
	The H.D. Lee Company, Inc.	  	Delaware
	R&R Apparel Company, LLC	  	Delaware
	VFJ Ventures, LLC	  	Delaware
	Wrangler Apparel Corp.	  	Delaware
	Jeanswear Receivables, LLC	  	Delaware
	Jeanswear Services, LLC	  	Delaware
	Jeanswear Ventures, LLC	  	Delaware
	VF Jeanswear Limited Partnership	  	Delaware

  
 iv 

 SCHEDULE 4.19(b) 

MORTGAGE FILING JURISDICTIONS 
 None 

  
 v 

 SCHEDULE 6.12 

POST-CLOSING OBLIGATIONS 
  

	1.	 Within 20 Business Days of the Closing Date (or such longer period as the Administrative Agent may agree),
deliver the Pledged Stock described in the Collateral Agreement with respect to 20X DE MEXICO S.A. de C.V., VFJ–CSS De Mexico, S.A. de C.V., The H.D. Lee Company, Inc., Retail Productivity Management, Inc., VF Jeanswear Sales, Inc., VF Outlet,
Inc. and Wrangler Apparel Corp. 

  

	2.	 Within 60 Business Days of the Closing Date (or such longer period as the Administrative Agent may agree),
deliver to the Administrative Agent and the Collateral Agent insurance certificates and endorsements naming the Collateral Agent as additional insured or mortgagee and loss payee under the insurance policies of the Company and its Subsidiaries in
accordance with the Collateral Agreement. 

  
 vi 

 SCHEDULE 7.2(d) 

INDEBTEDNESS 
 1. Debt of
LEEWRANGLER APPAREL (CHINA) CO., LTD in the amount of CNY 63,000,000, borrowed under that certain CNY 200,000,000 credit facility with HSBC Bank and related Guarantee Agreement dated March 27, 2019 by and among V.F. Corportation (expected to be
replaced by the Company) and HSBC Bank (China) Company Limited, with respect indebtedness of LEEWRANGLER APPAREL (CHINA) CO., LTD, in addition to such underlying indebtedness (not to exceed CMB 200,000,000 plus interest, fees, costs and expenses).

 2. Trade LC Acceptances of VF Brands India Private Limited in the amount of INR 294,555,120, owed to HSBC Bank as of May 8, 2019.

 3. Surety bonds in the aggregate amount of $15,827,809.20 issued by the Travelers Indemnity Company and Fianzas Atlas, S.A. 

4. Outstanding hedges described below (all MTM values as of May 9, 2019): 

 

																	
	 Bank
	  	Currency Pair	 	  	Total Notional	 	  	Exposure Currency	 	  	MTM Value in USD	 
	 HSBC
	  	 	EUR/GBP	 	  	 	(23,791,768.70	) 	  	 	GBP	 	  	 	(188,654.75	) 
	 HSBC
	  	 	USD/MXN	 	  	 	1,025,210,601.14	 	  	 	MXN	 	  	 	(1,021,853.51	) 
	 Goldman Sachs
	  	 	USD/MXN	 	  	 	985,400,463.97	 	  	 	MXN	 	  	 	(1,031,116.00	) 
	 PNC
	  	 	USD/CAD	 	  	 	47,684,150.00	 	  	 	USD	 	  	 	(114,862.76	) 
	 PNC
	  	 	USD/MXN	 	  	 	342,000,000.00	 	  	 	MXN	 	  	 	(288,754.09	) 
	 JP Morgan
	  	 	EUR/USD	 	  	 	46,141,826.60	 	  	 	USD	 	  	 	(170,234.89	) 
	 Barclays
	  	 	EUR/USD	 	  	 	36,005,069.00	 	  	 	USD	 	  	 	119,503.00	 
	 Barclays
	  	 	EUR/PLN	 	  	 	(37,705,922.00	) 	  	 	PLN	 	  	 	604.00	 
	 TD
	  	 	EURK/SEK	 	  	 	(128,776,490.20	) 	  	 	SEK	 	  	 	38,388.57	 
		  				  				  				  	  
	  
	 
		  				  				  				  	 	(2,656,980.43	) 

  
 vii 

 SCHEDULE 7.3(f) 

LIENS 
  

	1.	 Deposit Account Control Agreement, dated as of April 1, 2019, among Jeanswear Receivables, LLC, Wells
Fargo Bank, National Association as Secured Party and Bank in connection with the Receivables Purchase Agreement dated as of April 1, 2019 by and among Jeanswear Receivables, LLC and Wells Fargo Bank, National Association.

  

	2.	 Those certain liens granted by VF Jeanswear Limited Partnership evidenced by
UCC-1 Financing Statements filed with the Delaware Department of State with the following initial filing numbers: 

  

	 	•	 	 2011 1362220 

  

	 	•	 	 2015 4823521 

  

	 	•	 	 2015 4823562 

  

	 	•	 	 2016 7689274 

  

	 	•	 	 2019 2230857 

  

	3.	 Those certain liens granted by VF Outlet, Inc. evidenced by UCC-1
Financing Statements filed with the Delaware Department of State with the following initial filing numbers: 

  

	 	•	 	 2014 2920312 

  

	 	•	 	 2014 2855138 

  

	 	•	 	 2015 03433516 

  

	4.	 Those certain liens granted by Jeanswear Receivables, LLC evidenced by
UCC-1 Financing Statements filed with the Delaware Department of State with initial filing number 2019 2230691. 

  
 8 

 SCHEDULE 7.3(m) 

EXISTING RECEIVABLES FINANCING/EXISTING SUPPLY CHAIN FINANCING 

 

	1.	 Receivables Purchase Agreement dated as of April 1, 2019 by and among Jeanswear Receivables, LLC and Wells
Fargo Bank, National Association, and related documentation. 

  

	2.	 Supply Chain Solutions Approved Invoice Master Buyer Agreement dated April 1, 2019 by and among The
Hongkong and Shanghai Banking Corporation Limited, VF Jeanswear Limited Partnership and any additional Buyers named therein, and related documentation. 

  
 9 

 SCHEDULE 7.5 

DISPOSITIONS 
 None. 

  
 10 

 SCHEDULE 7.8(h) 

PERMITTED INVESTMENTS 
  

	1.	 Investments by the Company and its Subsidiaries in Subsidiaries in connection with Schedule 4.15.

  

	2.	 Investments in respect of guarantees by the Company and its Subsidiaries in Schedule 7.2(d) above.

  

	3.	 WH Sourcing Note Receivable to KBI International Holdings, LLC 

  
 11 

 SCHEDULE 7.10 

TRANSACTIONS WITH AFFILIATES 
  

	1.	 Transition service expiring May 31, 2019 between Kontoor (Recipient) and VF (Service Provider)

  

	2.	 Sublease expiring September 30, 2020 between Kontoor (Sublessee) and VF (Sublessor) 

 

	3.	 Sublease expiring February 28, 2031 between Kontoor (Sublessee) and VF (Sublessor) 

 

	4.	 Sublease expiring December 31, 2021 between Kontoor (Sublessee) and VF (Sublessor) 

 

	5.	 Transition service expiring July 31, 2024 between Kontoor (Recipient) and VF (Service Provider)

  

	6.	 Transition service expiring September 30, 2020 between Kontoor (Recipient) and VF (Service Provider)

  

	7.	 Sublease expiring February 28, 2021 between Kontoor (Sublessee) and VF (Sublessor) 

 

	8.	 Sublease expiring April 30, 2020 between Kontoor (Sublessee) and VF (Sublessor) 

 

	9.	 Sublease expiring March 31, 2025 between Kontoor (Sublessee) and VF (Sublessor) 

 

	10.	 Lease expiring March 31, 2020 between Kontoor (lessee) and VF (lessor). VF owns the property.

  

	11.	 Sublease expiring April 30, 2020 between Kontoor (Sublessee) and VF (Sublessor) 

 

	12.	 Sublease expiring September 01, 2020 between Kontoor (Sublessee) and VF (Sublessor) 

 

	13.	 Commercial Services Agreement between Kontoor and VF regarding No.390 JianDe Road, ZhangPu Town, KunShan,
JiangSu, China 

  

	14.	 The subleases from members of the VF Group to members of the Kontoor Brands Group at the addresses set forth
below: 

  

									
	 	  	 E&Y ID #
	  	 Address
	  	 City
	  	 Country

	1.	  	346	  	Dublin - 1-2 Cope Street	  	Dublin	  	Ireland
	2.	  	430	  	Alte Schönhauser Strasse 38	  	Berlin	  	Germany
	3.	  	510	  	Rue de la Monnaie	  	Lille	  	France

  
 12 

 SCHEDULE 7.13 

NEGATIVE PLEDGES 
 None 

  
 13 

 EXHIBIT A-1 

TO THE CREDIT AGREEMENT 
 FORM OF
GUARANTEE AGREEMENT 

 GUARANTEE AGREEMENT 

made by 
 KONTOOR BRANDS, INC.,

 and 
 THE OTHER GUARANTORS
FROM TIME TO TIME PARTIES HERETO 
 in favor of 

JPMORGAN CHASE BANK, N.A. 
 as
Administrative Agent 
 Dated as of May 17, 2019 

 Table of Contents 
  

							
	 	 	 	  	Page	 
	 SECTION 1. DEFINED TERMS
	  	 	1	 
	 1.1
	 	Definitions	  	 	1	 
	 1.2
	 	Other Definitional Provisions	  	 	3	 
	 SECTION 2. GUARANTEE
	  	 	3	 
	 2.1
	 	Guarantee	  	 	3	 
	 2.2
	 	Right of Contribution	  	 	4	 
	 2.3
	 	No Subrogation	  	 	5	 
	 2.4
	 	Amendments, etc. with respect to the Primary Obligations	  	 	5	 
	 2.5
	 	Guarantee Absolute and Unconditional	  	 	6	 
	 2.6
	 	Reinstatement	  	 	7	 
	 2.7
	 	Payments	  	 	7	 
	 2.8
	 	Keepwell	  	 	7	 
	 SECTION 3. MISCELLANEOUS
	  	 	7	 
	 3.1
	 	Amendments in Writing	  	 	7	 
	 3.2
	 	Notices	  	 	8	 
	 3.3
	 	No Waiver by Course of Conduct; Cumulative Remedies	  	 	8	 
	 3.4
	 	Enforcement Expenses; Indemnification	  	 	8	 
	 3.5
	 	Successors and Assigns	  	 	9	 
	 3.6
	 	Set-Off	  	 	9	 
	 3.7
	 	Counterparts	  	 	9	 
	 3.8
	 	Severability	  	 	10	 
	 3.9
	 	Section Headings	  	 	10	 
	 3.10
	 	Integration	  	 	10	 
	 3.11
	 	GOVERNING LAW	  	 	10	 
	 3.12
	 	Submission To Jurisdiction; Waivers	  	 	10	 
	 3.13
	 	Acknowledgements	  	 	11	 
	 3.14
	 	Additional Guarantors	  	 	11	 
	 3.15
	 	Releases	  	 	11	 
	 3.16
	 	WAIVER OF JURY TRIAL	  	 	12	 

 ANNEX 
 Annex 1
Assumption Agreement 

  
 i 

 GUARANTEE AGREEMENT 

GUARANTEE AGREEMENT, dated as of May 17, 2019, made by each of the signatories hereto (together with any other entity that may become a
party hereto as provided herein, the “Guarantors”), in favor of JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) for the several banks and other financial
institutions (the “Lenders”) from time to time parties to the Credit Agreement, dated as of May 17, 2019 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Kontoor
Brands, Inc., a North Carolina corporation (the “Company”), Lee Wrangler International Sagl, a Società a Garanzia Limitata organized under the laws of Switzerland and a Subsidiary of the Company (“Lee
Wrangler”), any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties thereto, the Lenders, and the Administrative Agent. 

W I T N E S E T H: 
 WHEREAS,
pursuant to the Credit Agreement, the Lenders have severally made and agreed to make extensions of credit to the Borrowers (as defined in the Credit Agreement) upon the terms and subject to the conditions set forth therein; 

WHEREAS, each Borrower is a member of an affiliated group of companies that includes each other Guarantor; 

WHEREAS, the proceeds of the extensions of credit under the Credit Agreement have been and will be used in part to enable the Borrowers to
make valuable transfers to one or more of the other Guarantors in connection with the operation of their respective businesses; 
 WHEREAS,
the Borrowers and the other Guarantors are engaged in related businesses, and each Guarantor derives and will derive substantial direct and indirect benefit from the making of the extensions of credit under the Credit Agreement; 

WHEREAS, it is a condition precedent to the obligation of the Lenders to make their respective extensions of credit to the Borrowers under the
Credit Agreement that the Guarantors shall have executed and delivered this Agreement to the Administrative Agent for the ratable benefit of the Lenders; 

NOW, THEREFORE, in consideration of the premises and to induce the Administrative Agent and the Lenders to enter into the Credit Agreement and
to induce the Lenders to make their respective extensions of credit to the Borrowers under the Credit Agreement, the parties hereto agree as follows: 

SECTION 1. DEFINED TERMS 
 1.1
Definitions. (a) Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 (b) The following terms shall have the following meanings: 

“Agreement”: this Guarantee Agreement, as the same may be further amended, supplemented or otherwise modified from time to
time. 
 “Commodity Exchange Act”: the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time,
and any successor statute. 
 “Guarantor Obligations”: with respect to any Guarantor, all obligations and liabilities of
such Guarantor which may arise under or in connection with this Agreement (including, without limitation, Section 2) or any other Loan Document to which such Guarantor is a party. 

“Guarantors”: the collective reference to each Guarantor (for the avoidance of doubt, including the Company but not Lee
Wrangler or any other Foreign Subsidiary Borrower); provided that each Guarantor shall not be considered a Guarantor with respect to its Primary Obligations. 

“Lender Hedge Agreements”: all Hedge Agreements between (i) the Company or any of its Subsidiaries and (ii) any
Person who is, or was, a Lender (or any Affiliate of any Lender) (x) at the time the Hedge Agreement was entered into, with respect to any Hedge Agreement entered into after the Closing Date or (y) as of the Closing Date, with respect to
any Hedge Agreement in effect as of the Closing Date, in the case of clauses (x) and (y), regardless of whether such Person subsequently ceases to be a Lender or an Affiliate of a Lender (each Person described in this clause (ii), a
“Lender Hedge Agreement Counterparty”). 
 “Obligations”: with respect to any Loan Party, the collective
reference to its Primary Obligations and Guarantor Obligations. 
 “Primary Obligations”: (i) with respect to any Loan
Party, the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of such Loan Party (including, without limitation, interest accruing at the then applicable
rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the
commencement of any insolvency, reorganization or like proceeding, relating to such Loan Party, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender (or, in the
case of any (x) Lender Hedge Agreement, any Lender Hedge Agreement Counterparty or (y) Lender Cash Management Obligations, any Lender Cash Management Counterparty), whether direct or indirect, absolute or contingent, due or to become due,
or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, the other Loan Documents, any Letter of Credit, any Lender Hedge Agreement, any Lender Cash Management Obligation or
any other document made, delivered or given in connection with any of the foregoing, in each case whether on account of principal, interest, reimbursement 

  
 2 

 
obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required
to be paid by any Loan Party pursuant to the terms of any of the foregoing agreements) and (ii) with respect to any Subsidiary that is not a Loan Party, the collective reference to the obligations and liabilities of such Subsidiary to the
Administrative Agent, any Lender, any Affiliate of any Lender, any Lender Hedge Agreement Counterparty and any Lender Cash Management Counterparty, whether direct or indirect, absolute or contingent, due or to become due, or now existing or
hereafter incurred, which may arise under, out of, or in connection with, any Lender Hedge Agreement, any Lender Cash Management Obligation or any other document made, delivered or given in connection with any of the foregoing, in each case whether
on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise; provided, that for purposes of determining any Guarantor Obligations of any Guarantor under this Agreement, the definition of
“Primary Obligations” shall not create any guarantee by any Guarantor of any Excluded Swap Obligations of such Guarantor. 

“Qualified Keepwell Provider”: in respect of any Swap Obligation, each Loan Party that, at the time the relevant guarantee
(or grant of the relevant security interest, as applicable) becomes effective with respect to such Swap Obligation, has total assets exceeding $10,000,000 or otherwise constitutes an “eligible contract participant” under the
Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” with respect to such Swap Obligation at such time by entering into a keepwell or
guarantee pursuant to Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 “Secured Party”: the Collateral
Agent, the Administrative Agent, the Lenders, the Lender Hedge Agreement Counterparties, the Lender Cash Management Counterparties, the beneficiaries of each indemnification obligation undertaken by any Grantor under the Loan Documents and any
successors, endorsees, permitted transferees and permitted assigns of each of the foregoing. 
 1.2 Other Definitional Provisions.
(a) The other definitional and interpretive provisions of Sections 1.2, 1.3, 1.4 and 1.5 of the Credit Agreement are incorporated herein by reference, mutatis mutandis. 

SECTION 2. GUARANTEE. Except as otherwise provided herein or in Section 3.15(c) hereof or in Section 10.14 of the Credit Agreement:

 2.1 Guarantee. (a) Each of the Guarantors hereby, jointly and severally, unconditionally and irrevocably, guarantees to the
Administrative Agent, for the ratable benefit of the Secured Parties and their respective successors, indorsees, transferees and assigns, the prompt and complete payment and performance by the Loan Parties when due (whether at the stated maturity,
by acceleration or otherwise) of the Primary Obligations (other than, with respect to any Guarantor, any Excluded Swap Obligations of such Guarantor). 

  
 3 

 (b) Anything herein or in any other Loan Document to the contrary notwithstanding, the
maximum liability of each Guarantor hereunder (other than any Borrower with respect to its Primary Obligations) and under the other Loan Documents shall in no event exceed the amount which can be guaranteed by such Guarantor under applicable federal
and state laws relating to the insolvency of debtors (after giving effect to the right of contribution established in Section 2.2). 

(c) Each Guarantor agrees that the Primary Obligations may at any time and from time to time exceed the amount of the liability of such
Guarantor hereunder without impairing the guarantee contained in this Section 2 or affecting the rights and remedies of the Administrative Agent or any other Secured Party hereunder. 

(d) The guarantee contained in this Section 2 shall remain in full force and effect until all the Primary Obligations (other than
obligations in respect of Hedge Agreements or Cash Management Obligations or other contingent indemnity obligations not due and payable) and the obligations of each Guarantor under the guarantee contained in this Section 2 shall have been
satisfied by payment in full, no Letter of Credit shall be outstanding (other than Letters of Credit that are cash collateralized or backstopped on terms reasonably satisfactory to the applicable Issuing Lender) and the Commitments shall be
terminated, notwithstanding that from time to time during the term of the Credit Agreement the Loan Parties may be free from any Primary Obligations. 

(e) No payment made by any Borrower, any other Loan Party with Primary Obligations, any of the Guarantors, any other guarantor or any other
Person or received or collected by the Administrative Agent or any other Secured Party from any Borrower, any other Loan Party with Primary Obligations, any of the Guarantors, any other guarantor or any other Person by virtue of any action or
proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Primary Obligations shall be deemed to modify, reduce, release or otherwise
affect the liability of any Guarantor hereunder which shall, notwithstanding any such payment (other than any payment made by such Guarantor in respect of the Primary Obligations or any payment received or collected from such Guarantor in respect of
the Primary Obligations), remain liable for the Primary Obligations up to the maximum liability of such Guarantor hereunder until the Primary Obligations are paid in full (other than obligations under or in respect of Hedge Agreements or Cash
Management Obligations and other than contingent indemnity obligations not due and payable), no Letter of Credit shall be outstanding (other than Letters of Credit that are cash collateralized or backstopped on terms reasonably satisfactory to the
applicable Issuing Lender) and the Commitments are terminated. 
 2.2 Right of Contribution. Each Guarantor hereby agrees that to the extent
that a Guarantor shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any Guarantor hereunder which has not paid its proportionate share
of such payment. Each Guarantor’s right of contribution shall be subject to the terms and conditions of Section 2.3. The provisions of this Section 2.2 shall in no respect limit the obligations and liabilities of any Guarantor to the
Administrative Agent and the other Secured Parties, and each Guarantor shall remain liable to the Administrative Agent and the other Secured Parties for the full amount guaranteed by such Guarantor hereunder. 

  
 4 

 2.3 No Subrogation. Notwithstanding any payment made by any Guarantor hereunder or any set-off or application of funds of any Guarantor by the Administrative Agent or any other Secured Party, no Guarantor shall be entitled to be subrogated to any of the rights of the Administrative Agent or any other
Secured Party against any Borrower, any other Loan Party with Primary Obligations, or any other Guarantor or any collateral security or guarantee or right of offset held by the Administrative Agent or any other Secured Party for the payment of the
Primary Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from any Borrower, any other Loan Party with Primary Obligations, or any other Guarantor in respect of payments made by such Guarantor
hereunder, until all amounts owing to the Administrative Agent and the other Secured Parties by the Loan Parties on account of the Primary Obligations are paid in full (other than obligations under or in respect of Hedge Agreements or Cash
Management Obligations and other than contingent indemnity obligations not due and payable), no Letter of Credit shall be outstanding (other than Letters of Credit that are cash collateralized or backstopped on terms reasonably satisfactory to the
applicable Issuing Lender) and the Commitments are terminated. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all of the Primary Obligations shall not have been paid in full (other than
obligations under or in respect of Hedge Agreements or Cash Management Obligations and other than contingent indemnity obligations not due and payable), such amount shall be held by such Guarantor in trust for the Administrative Agent and the other
Secured Parties, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Administrative Agent in the exact form received by such Guarantor (duly indorsed by such Guarantor to the
Administrative Agent, if required), to be applied against the Primary Obligations, whether matured or unmatured, in such order as the Administrative Agent may determine. 

2.4 Amendments, etc. with respect to the Primary Obligations. Each Guarantor shall remain obligated hereunder notwithstanding that, without any
reservation of rights against any Guarantor and without notice to or further assent by any Guarantor, any demand for payment of any of the Primary Obligations made by the Administrative Agent or any other Secured Party may be rescinded by the
Administrative Agent or such other Secured Party and any of the Primary Obligations continued, and the Primary Obligations, or the liability of any other Person upon or for any part thereof, or any collateral security or guarantee therefor or right
of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent or any other Secured Party, and the Credit
Agreement and the other Loan Documents, any Lender Hedge Agreement, any agreements evidencing the Lender Cash Management Obligations and any other documents executed and delivered in connection with the foregoing may be amended, modified,
supplemented or terminated, in whole or in part, as the Administrative Agent (or the Required Lenders or all Lenders, as the case may be) or any applicable Secured Party, as the case may be, may deem advisable from time to time, and any collateral
security, guarantee or right of offset at any time held by the Administrative 

  
 5 

 
Agent or any other Secured Party for the payment of the Primary Obligations may be sold, exchanged, waived, surrendered or released. Neither the Administrative Agent nor any other Secured Party
shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Primary Obligations or for the guarantee contained in this Section 2 or any property subject thereto. 

2.5 Guarantee Absolute and Unconditional. Each Guarantor waives any and all notice of the creation, renewal, extension or accrual of any of the
Primary Obligations and notice of or proof of reliance by the Administrative Agent or any other Secured Party upon the guarantee contained in this Section 2 or acceptance of the guarantee contained in this Section 2; the Primary
Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee contained in this Section 2; and all dealings between the Loan
Parties, on the one hand, and the Administrative Agent and the other Secured Parties, on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantee contained in this Section 2. Each
Guarantor waives diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon any Borrower, any other Loan Party with Primary Obligations, or any of the Guarantors with respect to the Primary Obligations. Each
Guarantor understands and agrees that the guarantee contained in this Section 2 shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (a) the validity or enforceability of the Credit
Agreement or any other Loan Document, any Lender Hedge Agreement, any agreement evidencing the Lender Cash Management Obligations, any of the Primary Obligations or any other collateral security therefor or guarantee or right of offset with respect
thereto at any time or from time to time held by the Administrative Agent or any other Secured Party, (b) any defense, set-off or counterclaim (other than a defense of payment or performance) which may at
any time be available to or be asserted by any Borrower, any other Loan Party or any other Person against the Administrative Agent or any other Secured Party, or (c) any other circumstance whatsoever (with or without notice to or knowledge of
any Borrower, any other Loan Party with Primary Obligations or such Guarantor) which constitutes, or might be construed to constitute, an equitable or legal discharge of the Loan Parties for the Primary Obligations, or of such Guarantor under the
guarantee contained in this Section 2, in bankruptcy or in any other instance. When making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any Guarantor, the Administrative Agent or any other Secured Party
may, but shall be under no obligation to, make a similar demand on or otherwise pursue such rights and remedies as it may have against any Borrower, any other Loan Party with Primary Obligations, any other Guarantor or any other Person or against
any collateral security or guarantee for the Primary Obligations or any right of offset with respect thereto, and any failure by the Administrative Agent or any other Secured Party to make any such demand, to pursue such other rights or remedies or
to collect any payments from the Borrower, any other Guarantor or any other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of any Borrower, any other Loan Party with
Primary Obligations, any other Guarantor or any other Person or any such collateral security, guarantee or right of offset, shall not relieve any Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights and
remedies, whether express, implied or available as a matter of law, of the Administrative Agent or any other Secured Party against any Guarantor. For the purposes hereof “demand” shall include the commencement and continuance of any
legal proceedings. 

  
 6 

 2.6 Reinstatement. The guarantee contained in this Section 2 shall continue to be
effective, or be reinstated, as the case may be, if at any time payment, or any part thereof, of any of the Primary Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or any other Secured Party upon the
insolvency, bankruptcy, dissolution, liquidation or reorganization of any Borrower, any other Loan Party with Primary Obligations or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or
similar officer for, any Borrower, any other Loan Party with Primary Obligations or any Guarantor or any substantial part of its property, or otherwise, all as though such payments had not been made. 

2.7 Payments. Each Guarantor hereby guarantees that payments hereunder will be paid to the Administrative Agent without set-off or counterclaim in the applicable currency and at the relevant funding office as set forth in Section 2.19(e) of the Credit Agreement. 

2.8 Keepwell. Each Qualified Keepwell Provider hereby jointly and severally absolutely, unconditionally, and irrevocably undertakes to provide
such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this Agreement in respect of any Swap Obligation (provided, however, that each Qualified Keepwell Provider shall only be
liable under this Section 2.8 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 2.8, or otherwise under this guarantee, voidable under applicable law relating to
fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified Keepwell Provider under this Section 2.8 shall remain in full force and effect until such time as the Loans, the Reimbursement
Obligations and the other Obligations (other than Obligations in respect of Hedge Agreements or Cash Management Obligations and other than contingent indemnity obligations not due and payable) shall have been paid in full, the Commitments have been
terminated and no Letters of Credit shall be outstanding (other than Letters of Credit that are cash collateralized or backstopped on terms reasonably satisfactory to the applicable Issuing Lender). Each Qualified Keepwell Provider intends that this
Section 2.8 constitute, and this Section 2.8 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of section 1a(18)(A)(v)(II) of the Commodity Exchange
Act. 
 SECTION 3. MISCELLANEOUS 

3.1 Amendments in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except
in accordance with subsection 10.1 of the Credit Agreement. 

  
 7 

 3.2 Notices. All notices, requests and demands to or upon the Administrative Agent or any
Guarantor hereunder shall be effected in the manner provided for in subsection 10.2 of the Credit Agreement; provided that any such notice, request or demand to or upon any Guarantor shall be addressed to such Guarantor at the Company’s address
in accordance with Section 10.2 of the Credit Agreement. 
 3.3 No Waiver by Course of Conduct; Cumulative Remedies. Neither the
Administrative Agent nor any other Secured Party shall by any act (except by a written instrument pursuant to Section 3.1), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in
any Default. No failure to exercise, nor any delay in exercising, on the part of the Administrative Agent or any other Secured Party, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any
right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by the Administrative Agent or any other Secured Party of any right or remedy hereunder on any
one occasion shall not be construed as a bar to any right or remedy which the Administrative Agent or such other Secured Party would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised
singly or concurrently and are not exclusive of any other rights or remedies provided by law. 
 3.4 Enforcement Expenses; Indemnification.
(a) Each Guarantor agrees to pay or reimburse the Administrative Agent and each other Secured Party for all its costs and expenses incurred in collecting against such Guarantor under the guarantee contained in Section 2 or otherwise
enforcing or preserving any rights under this Agreement and the other Loan Documents, any Lender Hedge Agreement or any agreement evidencing Lender Cash Management Obligations to which such Guarantor is a party, including, without limitation, the
reasonable fees and disbursements of counsel (including the allocated fees and expenses of in-house counsel) to each Secured Party and of counsel to the Administrative Agent. 

(b) Each Guarantor agrees to pay, and to save the Administrative Agent and the other Secured Parties harmless from, any and all liabilities
with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes which may be payable or determined to be payable in connection with any of the transactions contemplated by this Agreement. 

(c) Each Guarantor agrees to pay, and to save the Administrative Agent and the other Secured Parties harmless from, any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Agreement to the
extent the Borrowers would be required to do so pursuant to subsection 10.5 of the Credit Agreement. 
 (d) The agreements in this
Section 3.4 shall survive repayment of the Obligations and all other amounts payable under the Credit Agreement and the other Loan Documents, the Lender Hedge Agreements and the agreements evidencing Lender Cash Management Obligations. 

  
 8 

 3.5 Successors and Assigns. This Agreement shall be binding upon the successors and assigns
of each Guarantor and shall inure to the benefit of the Administrative Agent and the other Secured Parties and their successors and assigns; provided that no Guarantor may assign, transfer or delegate any of its rights or obligations under this
Agreement without the prior written consent of the Administrative Agent. 
 3.6 Set-Off. Each
Guarantor hereby irrevocably authorizes the Administrative Agent and each other Secured Party at any time and from time to time while an Event of Default pursuant to subsection 8(a) of the Credit Agreement shall have occurred and be continuing,
without notice to such Guarantor or any other Guarantor, any such notice being expressly waived by each Guarantor, to set-off and appropriate and apply any and all deposits (general or special, time or demand,
provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by the Administrative Agent or
such other Secured Party to or for the credit or the account of such Guarantor, or any part thereof in such amounts as the Administrative Agent or such other Secured Party may elect, against and on account of the obligations and liabilities of such
Guarantor to the Administrative Agent or such other Secured Party hereunder and claims of every nature and description of the Administrative Agent or such other Secured Party against such Guarantor, in any currency, whether arising hereunder, under
the Credit Agreement, any other Loan Document or otherwise, as the Administrative Agent or such other Secured Party may elect, whether or not the Administrative Agent or any other Secured Party has made any demand for payment and although such
obligations, liabilities and claims may be contingent or unmatured. The Administrative Agent and each other Secured Party shall notify such Guarantor promptly of any such set-off and the application made by
the Administrative Agent or such other Secured Party of the proceeds thereof; provided that (a) the failure to give such notice shall not affect the validity of such set-off and application and
(b) to the extent prohibited by applicable law as described in the definition of “Excluded Swap Obligations,” no amounts received from, or set-off with respect to, any Guarantor shall be applied
to any Excluded Swap Obligations of such Guarantor. The rights of the Administrative Agent and each other Secured Party under this Section 3.6 are in addition to other rights and remedies (including, without limitation, other rights of set-off) which the Administrative Agent or such other Secured Party may have. 
 3.7 Counterparts. This
Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed
signature page of this Agreement by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

  
 9 

 3.8 Severability. Any provision of this Agreement which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 3.9 Section Headings. The Section headings used in this
Agreement are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

3.10 Integration. This Agreement and the other Loan Documents represent the agreement of the Guarantors, the Administrative Agent and the other
Secured Parties with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any other Secured Party relative to subject matter hereof and thereof not
expressly set forth or referred to herein or in the other Loan Documents. 
 3.11 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 3.12 Submission To Jurisdiction; Waivers. Each Guarantor
hereby irrevocably and unconditionally: 
 (a) submits for itself and its property in any legal action or proceeding relating to this
Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York, the courts of the United States for
the Southern District of New York, and appellate courts from any thereof; provided, that nothing contained herein or in any other Loan Document will prevent any other Secured Party or the Administrative Agent from bringing any action to enforce any
award or judgment or exercise any right under the Security Documents or against any Collateral or any other property of any Loan Party in any other forum in which jurisdiction can be established; 

(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; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail
(or any substantially similar form of mail), postage prepaid, to such Guarantor at its address referred to in Section 3.2 or at such other address of which the Administrative Agent shall have been notified pursuant thereto; 

(d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the
right to sue in any other jurisdiction; and 

  
 10 

 (e) waives, to the maximum extent not prohibited by law, any right it may have to claim or
recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages. 
 3.13
Acknowledgements. Each Guarantor hereby acknowledges that: 
 (a) it has been advised by counsel in the negotiation, execution and delivery
of this Agreement and the other Loan Documents to which it is a party; 
 (b) neither the Administrative Agent nor any other Secured Party
has any fiduciary relationship with or duty to any Guarantor arising out of or in connection with this Agreement or any of the other Loan Documents, any Lender Hedge Agreement or any agreement evidencing Lender Cash Management Obligations and the
relationship between the Guarantors, on the one hand, and the Administrative Agent and other Secured Parties, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and 

(c) no joint venture is created hereby or by the other Loan Documents, the Lender Hedge Agreements or the agreements evidencing Lender Cash
Management Obligations or otherwise exists by virtue of the transactions contemplated hereby among the Secured Parties or among the Guarantors and the Secured Parties. 

3.14 Additional Guarantors. Each Domestic Subsidiary that is not an Excluded Subsidiary of the Company that is required to become a party to
this Agreement pursuant to Section 6.9 of the Credit Agreement shall become a Guarantor for all purposes of this Agreement upon execution and delivery by such Domestic Subsidiary that is not an Excluded Subsidiary of an Assumption Agreement in
the form of Annex 1 hereto. For the avoidance of doubt, only Domestic Loan Parties that are not Excluded Subsidiaries shall be parties to this Agreement. 

3.15 Releases. (a) At such time as the Loans, the Reimbursement Obligations and the other Obligations shall have been paid in full (other
than obligations under or in respect of Hedge Agreements or Cash Management Obligations and other than contingent indemnity obligations not due and payable), the Commitments have been terminated and no Letters of Credit shall be outstanding (other
than Letters of Credit that are cash collateralized or backstopped on terms reasonably satisfactory to the applicable Issuing Lender), this Agreement and all obligations (other than those expressly stated to survive such termination) of the
Administrative Agent and each Guarantor hereunder shall terminate, all without delivery of any instrument or performance of any act by any party. At the request and sole expense of any Guarantor following any such termination, the Administrative
Agent shall execute and deliver to such Guarantor such documents as such Guarantor shall reasonably request to evidence such termination. 

(b) At the request and sole expense of the Company, a Subsidiary Guarantor shall be released from its obligations hereunder in the event that
all the Capital Stock of such Subsidiary Guarantor shall be sold, transferred or otherwise disposed of in a transaction not prohibited by the Credit Agreement (provided that, if the other party to 

  
 11 

 
such transaction is the Company or a Subsidiary of the Company, the effect of such transaction is to cause such Subsidiary to become an Excluded Subsidiary in a transaction permitted under the
Credit Agreement the primary purpose of which transaction is not to effect the release of such Guarantor or any other Guarantor from its obligations under the Loan Documents), including any releases requested in connection with any such transaction
pursuant to Section 7.5 of the Credit Agreement, or such Subsidiary is no longer required by the Loan Documents to be (and the Company notifies the Administrative Agent that such Subsidiary shall no longer be) a Subsidiary Guarantor (including
for any reason in Section 10.14 of the Credit Agreement); provided that the Company shall have delivered to the Administrative Agent, at least two Business Days prior to the date of the proposed release, a written request for release
identifying the relevant Subsidiary Guarantor and attaching the purchase or other sale agreement or identifying the sale or other disposition and the price thereof, together with a certification by the Company stating that such transaction is in
compliance with the Credit Agreement. 
 (c) Notwithstanding anything herein to the contrary, this Agreement shall not apply and shall cease
to be effective, without delivery of any instrument or performance of any act by any party, upon the occurrence and during the continuation of a Suspension Period Event; provided that this Agreement shall be automatically reinstated and shall become
immediately effective, without delivery of any instrument or performance of any act by any party, at any time that the requirements of a Suspension Period Event are no longer satisfied. 

3.16 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 3.17 Conversion of Currencies. The obligations of
each Guarantor in respect of any sum due to any party hereto or any holder of the obligations owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”)
other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so
due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is
less than the sum originally due to the Applicable Creditor in the Agreement Currency, the Guarantors agree, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of
the Guarantors contained in this Section 3.17 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder. 

  
 12 

 IN WITNESS WHEREOF, each of the undersigned has caused this Guarantee Agreement to be duly
executed and delivered. 
 KONTOOR BRANDS, INC. 
  

	
	 By:

	 Name:

	 Title:

	
	 [    ]

	
	 By:

	 Name:

	 Title:

  
 13 

 Acknowledged and Agreed as of the date hereof: 

JPMORGAN CHASE BANK, N.A. as Administrative Agent 
  

	
	 By:

	 Name:

	 Title:

  
 14 

 Annex 1 

to Guarantee Agreement 
 ASSUMPTION
AGREEMENT, dated as of [    ] , 20[    ] , made by [    ] a [limited liability company][corporation][limited partnership] (the “Additional Guarantor”), in favor of JPMORGAN
CHASE BANK, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the banks and other financial institutions (the “Lenders”) parties to the Credit Agreement referred to below. All
capitalized terms not defined herein shall have the meaning ascribed to them in such Credit Agreement. 
 W I T N E S S E T H : 

WHEREAS, Kontoor Brands, Inc. (the “Company”), Lee Wrangler International Sagl, any other Subsidiary Borrowers (as defined in
the Credit Agreement (as defined below) from time to time parties thereto, the Lenders, and the Administrative Agent have entered into the Credit Agreement, dated as of May 17, 2019 (as amended, supplemented or otherwise modified from time to
time, the “Credit Agreement”); 
 WHEREAS, in connection with the Credit Agreement, the Company and certain of its
Affiliates (other than the Additional Guarantor) have entered into the Guarantee Agreement, dated as of May 17, 2019 (as amended, supplemented or otherwise modified from time to time, the “Guarantee Agreement”) in favor of the
Administrative Agent for the benefit of the Lenders; 
 WHEREAS, the Credit Agreement requires the Additional Guarantor to become a party to
the Guarantee Agreement; and 
 WHEREAS, the Additional Guarantor has agreed to execute and deliver this Assumption Agreement in order to
become a party to the Guarantee Agreement; 
 NOW, THEREFORE, IT IS AGREED: 

1. Guarantee Agreement. By executing and delivering this Assumption Agreement, the Additional Guarantor, as provided in Section 3.14 of
the Guarantee Agreement, hereby becomes a party to the Guarantee Agreement as a Guarantor thereunder with the same force and effect as if originally named therein as a Guarantor and, without limiting the generality of the foregoing, hereby expressly
assumes all obligations and liabilities of a Guarantor thereunder. 
 2. Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 IN WITNESS WHEREOF, the undersigned has caused this
Assumption Agreement to be duly executed and delivered as of the date first above written. 

  
 15 

 [ADDITIONAL GUARANTOR] 
  

			
	By:	 	                                

	Name:	 	
	Title:	 	

  
 16 

 EXHIBIT A-2 

TO THE CREDIT AGREEMENT 
 FORM OF
COLLATERAL AGREEMENT 

 COLLATERAL AGREEMENT 

made by 
 KONTOOR BRANDS, INC.,

 as Company, 
 and certain of
its Subsidiaries 
 in favor of 

JPMORGAN CHASE BANK, N.A., 
 as
Collateral Agent 
 Dated as of May 17, 2019 

 TABLE OF CONTENTS 

 
  

 

					
	 	  	PAGE	 
	
	ARTICLE 1	  

	DEFINED TERMS	  

		
	 Section 1.01. Definitions
	  	 	1	 
	 Section 1.02. Other Definitional Provisions
	  	 	6	 
	
	ARTICLE 2	  

	GRANTS OF SECURITY INTERESTS	  

		
	 Section 2.01. Grants of Security Interests
	  	 	6	 
	
	ARTICLE 3	  

	REPRESENTATIONS AND WARRANTIES	  

		
	 Section 3.01. Title; No Other Liens
	  	 	7	 
	 Section 3.02. Perfected Security Interests
	  	 	7	 
	 Section 3.03. Perfection Certificate
	  	 	8	 
	 Section 3.04. [Reserved]
	  	 	8	 
	 Section 3.05. Pledged Securities
	  	 	8	 
	 Section 3.06. Commercial Tort Claims
	  	 	8	 
	
	ARTICLE 4	  

	COVENANTS	  

		
	 Section 4.01. Delivery of Instruments and Certificated Securities
	  	 	8	 
	 Section 4.02. Maintenance of Perfected Security Interests
	  	 	8	 
	 Section 4.03. Changes in Locations, Name, etc.
	  	 	8	 
	 Section 4.04. Notice
	  	 	9	 
	 Section 4.05. Investment Property
	  	 	9	 
	 Section 4.06. Intellectual Property
	  	 	9	 
	 Section 4.07. Commercial Tort Claims
	  	 	10	 
	 Section 4.08. Certification of Limited Liability Company and Limited Partnership
Interest
	  	 	10	 
	
	ARTICLE 5	  

	REMEDIAL PROVISIONS	  

		
	 Section 5.01. Investment Property, Including Pledged Stock
	  	 	11	 
	 Section 5.02. Proceeds To Be Turned Over to Collateral Agent
	  	 	12	 
	 Section 5.03. Application of Proceeds
	  	 	12	 
	 Section 5.04. UCC and Other Remedies
	  	 	12	 
	 Section 5.05. Grant of License to Use Intellectual Property
	  	 	13	 
	
	ARTICLE 6	  

	THE COLLATERAL AGENT	  

		
	 Section 6.01. Collateral Agent’s Appointment as Attorney-in-fact, etc.
	  	 	13	 
	 Section 6.02. Duty of Collateral Agent
	  	 	15	 

  
 i 

					
	 Section 6.03. Execution of Financing Statements
	  	 	16	 
	
	ARTICLE 7	  

	MISCELLANEOUS	  

		
	 Section 7.01. Amendments in Writing
	  	 	16	 
	 Section 7.02. Notices
	  	 	16	 
	 Section 7.03. No Waiver by Course of Conduct; Cumulative Remedies
	  	 	16	 
	 Section 7.04. Successors and Assigns
	  	 	16	 
	 Section 7.05. Counterparts
	  	 	16	 
	 Section 7.06. Severability
	  	 	17	 
	 Section 7.07. Section Headings
	  	 	17	 
	 Section 7.08. Governing Law
	  	 	17	 
	 Section 7.09. Submission to Jurisdiction; Waivers
	  	 	17	 
	 Section 7.10. Acknowledgements
	  	 	17	 
	 Section 7.11. Additional Grantors
	  	 	18	 
	 Section 7.12. Termination of Security Interests; Release of Collateral
	  	 	18	 
	 Section 7.13. [Reserved]
	  	 	20	 
	 Section 7.14. Waiver of Jury Trial
	  	 	20	 
	 Section 7.15. Applicable Intercreditor Agreement
	  	 	20	 
	 Section 7.16. The Administrative Agent
	  	 	21	 
	 Section 7.17. [Reserved]
	  	 	21	 
	 Section 7.18. Extensions
	  	 	21	 

 SCHEDULES AND ANNEXES 
  

							
	 Schedule 1.01
	 	[Reserved]	  			
	 Schedule 3.02
	 	Perfection Matters	  			
			
	 Exhibit A
	 	Assumption Agreement	  			
	 Exhibit B
	 	Perfection Certificate	  			

  
 ii 

 COLLATERAL AGREEMENT 

COLLATERAL AGREEMENT, dated as of May 17, 2019, made by each of the signatories hereto (together with any other entity that may become a
party hereto as provided herein, the “Grantors”), in favor of JPMorgan Chase Bank, N.A., as Collateral Agent (in such capacity, the “Collateral Agent”), for the benefit of the Secured Parties. 

RECITALS 
 Reference is made to that certain
Credit Agreement, dated as of May 17, 2019 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Kontoor Brands Inc., a North Carolina corporation (the “Company”),
Lee Wrangler International Sagl, a Società a Garanzia Limitata organized under the laws of Switzerland and a Subsidiary of the Company, as a Subsidiary Borrower, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to
time parties thereto, the Lenders (as defined in the Credit Agreement), and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”). 

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as provided herein. 
 ARTICLE 1 DEFINED TERMS 

Section 1.01. Definitions. 

(a) Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Credit Agreement or the Guarantee
Agreement (as defined in the Credit Agreement), as applicable. 
 (b) Terms Defined in UCC. Each of the following terms are used herein as
defined in the New York UCC: Accounts, Authenticate, Certificated Security, Chattel Paper, Commercial Tort Claim, Deposit Accounts, Documents, Equipment, General Intangibles, Instruments, Inventory and Letter-of-Credit Rights. 
 (c) Additional Definitions. The following additional terms shall have
the following meanings: 
 “Agreement” shall mean this Collateral Agreement, as the same may be amended, supplemented or
otherwise modified from time to time. 
 “Closing Date” shall mean May 17, 2019. 

“Collateral” shall mean, with respect to each Grantor, all of the following in which such Grantor now has or may hereafter
acquire any right, title or interest: all Accounts, Chattel Paper, Commercial Tort Claims, Copyright Licenses, Copyrights, Deposit Accounts, Documents, Equipment, General Intangibles, Instruments, Intellectual Property, Intercompany Notes,
Inventory, Investment Property, Letter-of-Credit Rights, Patents, Patent Licenses, Pledged Stock, Trademarks, Trademark Licenses and all other personal property, whether
tangible or intangible, not described above in this definition, all books and records pertaining to any of the foregoing and, to the extent not otherwise included in the foregoing, all Proceeds and products of any and all of the foregoing and all
collateral, guarantees and other supporting obligations given by any Person with respect to any of the foregoing; provided that Collateral shall in any event not include any Excluded Assets of such Grantor. 

 “Collateral Agent” shall have the meaning set forth in the preamble hereto.

 “Company” shall have the meaning set forth in the preamble hereto. 

“Copyright License” shall mean, with respect to any Grantor, any written agreement naming such Grantor as licensee or
licensor, or granting any right to or from such Grantor, in each case under any Copyright. 
 “Copyrights” shall mean,
(i) all copyrights arising under United States, multinational or foreign laws or otherwise, whether registered or unregistered and whether published or unpublished (including, without limitation, those listed in Schedule 5(b)(i) to the
Perfection Certificate), all registrations and recordings thereof, including, without limitation, all registrations, recordings in the United States Copyright Office, and (ii) the right to obtain all renewals thereof. 

“Credit Agreement” shall have the meaning set forth in the preamble hereto. 

“Discharge of Secured Obligations” means (a) payment in full of the Loans, the Reimbursement Obligations and the other
Obligations (other than obligations under or in respect of Lender Hedge Agreements or Lender Cash Management Obligations and other than contingent indemnity obligations not due and payable), (b) termination of the Commitments and (c) that no
Letters of Credit shall be outstanding (other than Letters of Credit that are cash collateralized or backstopped on terms reasonably satisfactory to the applicable Issuing Lender). 

“Event of Default” shall mean any “Event of Default” under (and as such term is defined in) the Credit
Agreement. 
 “Excluded Assets” shall mean, collectively, with respect to each Grantor, (i) any contract, General
Intangible, Copyright License, Patent License or Trademark License (“Intangible Assets”), in each case to the extent the grant by such Grantor of a security interest pursuant to this Agreement in such Grantor’s right, title and
interest in such Intangible Asset (a) is prohibited by any contract, agreement, instrument or indenture governing such Intangible Asset, (b) would give any other party (other than the Company or any of its Subsidiaries) to such contract,
agreement, instrument or indenture the right to terminate its obligations thereunder or (c) is permitted only with the consent of another party (other than the Company or any of its Subsidiaries), if such consent has not been obtained (except,
in the case of clauses (a), (b) and (c), to the extent such prohibition, right of termination, or requirement of consent, as applicable, is rendered ineffective by the applicable provisions of the New York UCC or other applicable law); (ii) “intent-to-use” or similar trademark applications filed in the United States Patent and Trademark Office, unless and until acceptable evidence of use of the
trademark has been filed with and accepted by the United States Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C. 1051, et seq.), to the extent that granting a lien in such trademark
application prior to such filing would adversely affect the enforceability or validity of such trademark application; (iii) any assets (including accounts established or managed for) in connection with a Supply Chain Financing or Cash Pooling
Arrangement, (iv) accounts receivable and other assets transferred, pledged, factored, sold or purportedly transferred pursuant to, and in accordance with, a Permitted Receivables Financing and any Deposit Account that is used to hold
collections on any of such accounts receivable and other assets,(v) any Company Stock, (vi) motor vehicles, airplanes and other assets subject to certificates of title to the extent a lien thereon cannot be perfected by filing a Uniform

  
 2 

 
Commercial Code financing statement (or its equivalent in any applicable jurisdiction); (vii) the Capital Stock of (A) any Excluded Subsidiary that is not a Foreign Subsidiary or a CFC
Holding Company and (B) any Foreign Subsidiary or CFC Holding Company in excess of 65% of the Capital Stock of such Foreign Subsidiary or CFC Holding Company); provided that no Grantor shall be obligated to pledge the Capital Stock of a Foreign
Subsidiary to the extent such pledge would violate the laws of the jurisdiction of such Foreign Subsidiary’s organization; (viii) any lease, license or other agreement or any property subject to a purchase money security interest or
similar arrangement to the extent that a grant of a security interest therein would violate or invalidate such lease, license or agreement or purchase money arrangement or create a right of termination in favor of any other party thereto (other than
the Company or any of its Subsidiaries) (in each case, except to the extent such prohibition is unenforceable after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code (or its equivalent in any applicable
jurisdiction) and other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the Uniform Commercial Code (or its equivalent in any applicable jurisdiction) notwithstanding such prohibition);
(ix) any governmental licenses or state or local franchises, charters and authorizations, to the extent security interests in such licenses, franchises, charters or authorizations are prohibited or restricted thereby (in each case, except to
the extent such prohibition is unenforceable after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code (or its equivalent in any applicable jurisdiction) and other than proceeds and receivables thereof, the
assignment of which is expressly deemed effective under the Uniform Commercial Code (or its equivalent in any applicable jurisdiction) notwithstanding such prohibition); (x) (a) Letter of Credit Rights (except to the extent such Letter of
Credit Rights are supporting obligations in respect of Collateral and are automatically perfected by filing Uniform Commercial Code financing statements) and (b) Commercial Tort Claims less than $5 million, (xi) assets to the extent a
security interest in such assets would result in material adverse tax consequences (including, without limitation, as a result of the operation of Section 956 of the IRS Code or any similar law or regulation in any applicable jurisdiction) or
material adverse regulatory consequences, in each case, as reasonably determined by the Company; (xii) any payroll accounts, employee wage and benefit accounts, tax accounts, escrow accounts, fiduciary or accounts for administering foreign tax
credit, any Deposit Account the funds in which consist solely of (a) funds held by the Company or any Subsidiary in trust for any director, officer or employee of Company or any Subsidiary or any employee benefit plan maintained by Company or
any Subsidiary or (b) funds representing deferred compensation for the directors, officers and employees of the Company and its Subsidiaries; (xiii) fee interest in any real property having a value of less than $30 million,
(xiv) any pledge or security interest prohibited or restricted by applicable law, rule or regulation or any agreement with any governmental authority or which would require governmental (including regulatory) consent, approval, license or
authorization to provide such security interest (after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code) (with no requirement to obtain the consent of any governmental authority or third party), (xv) any
interest in a joint venture or non-wholly owned Subsidiary to the extent and for so long as the attachment of the security interest created hereby therein would violate any joint venture agreement,
organization document, shareholders agreement or equivalent agreement relating to such joint venture or non-wholly owned Subsidiary, (xvi) any assets owned by any Loan Party on the date hereof or
hereafter acquired and any proceeds thereof (or related assets) that are subject to a Lien securing Indebtedness incurred in connection with a Capital Lease, purchase money Indebtedness or other Indebtedness incurred to finance the acquisition of
such assets permitted to be incurred pursuant to the Credit Agreement to the extent and for so long as the contract or other agreement in which such Lien is granted (or the documentation providing for applicable purchase money Indebtedness) validly
prohibits the creation of any other Lien on such assets, (xviii) any property or assets in circumstances where the cost, burden or consequences (including adverse tax consequences) of obtaining a security interest in such property or assets
(including on account of 

  
 3 

 
any need to obtain consents or approvals, and the effect of the ability of the relevant Loan Party to conduct its operations and business in the ordinary course), as determined in good faith by
the Parent Borrower and the Administrative Agent, are excessive in relation to the practical benefit afforded to the Secured Parties and (xviii) any property constituting aircraft, aircraft engines, satellites, ships or railroad rolling stock.

 “Final Release Date”: shall mean the date on which the Discharge of Secured Obligations shall have occurred. 

“Grantor” shall have the meaning set forth in the preamble hereto. 

“Group Members” shall mean Company and its Subsidiaries. 

“Guarantor Obligations” shall have the meaning provided in the Guarantee Agreement. 

“Intellectual Property” shall mean all rights, priorities and privileges relating to intellectual property, whether arising
under United States, multinational or foreign laws or otherwise, including Copyrights, Patents, Trademarks, know-how, trade secrets, methods and processes, all registrations and applications for registration
of any of the foregoing, all goodwill associated with any of the foregoing, and all rights to sue at law or in equity for any infringement or other impairment or violation of any of the foregoing, including the right to receive all proceeds and
damages therefrom. 
 “Intercompany Loans” shall mean the collective reference to all loans and advances, whether or not
evidenced by any promissory note or other instrument, made by any Grantor to any Subsidiary, other than such loans and advances in respect of which the pledge thereof would, in the good faith judgment of Company, result in adverse tax consequences
to any Group Member. 
 “Intercompany Notes” shall mean any promissory note or other instrument evidencing an Intercompany
Loan with a principal amount in excess of $5 million that may be issued to, or held by, any Grantor while this Agreement is in effect (including, without limitation, those promissory notes evidencing Intercompany Loans included on Schedule 4 to
the Perfection Certificate); provided that no Foreign Subsidiary shall be obligated to pledge any promissory note or other instrument evidencing an Intercompany Loan to the extent such pledge would violate the laws of the jurisdiction of such
Foreign Subsidiary’s organization. 
 “Investment Property” shall mean the collective reference to (i) all
“investment property” as such term is defined in Article 9 of the New York UCC (other than any Capital Stock of any Excluded Subsidiary excluded from the definition of “Pledged Stock”) and (ii) whether or not
constituting “investment property” as so defined, all Pledged Securities. 
 “Investment Property Issuer”
shall mean with respect to any Investment Property, each issuer of such Investment Property. 
 “New York UCC” shall mean
the UCC as from time to time in effect in the State of New York. 
 “Patent License” shall mean, with respect to any
Grantor, any written agreement naming such Grantor as licensee or licensor, or granting any right to or from such Grantor, in each case under any Patent. 

  
 4 

 “Patents” shall mean, (i) all letters patent of the United States and
those arising under multinational or foreign laws or otherwise, all reissues and extensions thereof and all goodwill associated therewith, including, without limitation, those listed in Schedule 5(a) to the Perfection Certificate, (ii) all
applications for letters patent of the United States and those arising under multinational or foreign laws, and all divisions, continuations and continuations-in-part
thereof, including, without limitation, those listed in Schedule 5(a) to the Perfection Certificate, and (iii) all rights to obtain any reissues or extensions of the foregoing. 

“Perfection Certificate” shall mean, with respect to each Grantor that is a Domestic Subsidiary that is not an Excluded
Subsidiary, a certificate substantially in the form of Exhibit B, completed and supplemented with the schedules contemplated thereby, and signed by an officer of the Company on behalf of such Grantor. 

“Permitted Liens” shall mean Liens permitted under Section 7.3 the Credit Agreement. 

“Pledged Securities” shall mean the collective reference to the Pledged Stock and the Intercompany Notes. 

“Pledged Stock” shall mean the shares of Capital Stock listed on Schedule 3 to the Perfection Certificate, together with any
other shares, stock certificates, options or rights of any nature whatsoever in respect of the Capital Stock of any Person that may be issued or granted to, or held by, any Grantor while this Agreement is in effect; provided, however, that in no
event shall the Capital Stock of (A) any Excluded Subsidiary that is not a Foreign Subsidiary or a CFC Holding Company and (B) any Foreign Subsidiary or CFC Holding Company in excess of 65% of the Capital Stock of such Foreign Subsidiary
or CFC Holding Company), in either case, constitute Pledged Stock hereunder and under the other Loan Documents. 
 “Primary
Obligations” shall mean (i) with respect to any Grantor, the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of such Grantor (including,
without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after
the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to such Grantor, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the
Administrative Agent or any Lender (or, in the case of any (x) Lender Hedge Agreement (as defined in the Guarantee Agreement), any Lender Hedge Agreement Counterparty or (y) Lender Cash Management Obligations, any Lender Cash Management
Counterparty), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, the other Loan Documents, any
Letter of Credit, any Lender Hedge Agreement, any Lender Cash Management Obligation or any other document made, delivered or given in connection with any of the foregoing, in each case whether on account of principal, interest, reimbursement
obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by any Grantor pursuant to the terms of any
of the foregoing agreements) and (ii) with respect to any Subsidiary that is not a Grantor, the collective reference to the obligations and liabilities of such Subsidiary to the Administrative Agent, any Lender, any Affiliate of any Lender, any
Lender Hedge Agreement Counterparty and any Lender Cash Management Counterparty, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with,
any Lender Hedge Agreement or any Lender Cash Management Obligation. 

  
 5 

 “Proceeds” shall mean all “proceeds” as such term is
defined in Article 9 of the New York UCC and, in any event, shall include, without limitation, all dividends or other income from the Investment Property, collections thereon or distributions or payments with respect thereto. 

“Secured Obligations” shall mean with respect to any Grantor, the collective reference to its Primary Obligations and
Guarantor Obligations. 
 “Secured Parties” shall mean the holders of the Secured Obligations, including, without
limitation, the Collateral Agent, the Administrative Agent, the Lenders, the Lender Hedge Agreement Counterparties, the Lender Cash Management Counterparties, the beneficiaries of each indemnification obligation undertaken by any Grantor under the
Loan Documents and any successors, endorsees, permitted transferees and permitted assigns of each of the foregoing. 
 “Security
Interests” shall have the meaning set forth in Section 2.01 hereto. 
 “Subsidiary Grantors” shall mean,
collectively, each Grantor other than the Company. 
 “Trademark License” shall mean, with respect to any Grantor, any
written agreement naming such Grantor as licensee or licensor, or granting any right to or from such Grantor, in each case under any Trademark. 

“Trademarks” shall mean, (i) all trademarks, trade names, corporate names, company names, business names, fictitious
business names, trade styles, service marks, logos and other source or business identifiers arising under United States, multinational or foreign laws or otherwise, and all goodwill associated therewith, now existing or hereafter adopted or
acquired, all registrations and recordings thereof, and all applications in connection therewith in the United States Patent and Trademark Office, and all common-law rights related thereto, including, without
limitation, those listed in Schedule 5(a) to the Perfection Certificate and (ii) the right to obtain all renewals thereof. 

Section 1.02. Other Definitional Provisions. 

(a) The words. “hereof,” “herein”, “hereto” and “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section and Schedule references are to this Agreement unless otherwise specified. 

(b) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. 

(c) Where the context requires, terms relating to the Collateral or any part thereof, when used in relation to a Grantor, shall refer to such
Grantor’s Collateral or the relevant part thereof. 
 ARTICLE 2 GRANTS OF SECURITY INTERESTS 

Section 2.01. Grants of Security Interests. Pursuant to this Agreement, each Grantor hereby grants to the Collateral Agent for the benefit
of the Secured Parties, as security for such Grantor’s Secured Obligations, a security interest in all right, title and interest of such Grantor in all Collateral, whether now existing or hereafter acquired (the security interests granted
hereby to secure the Secured Obligations, the “Security Interests”); provided that the Collateral shall in any event not include any Excluded Assets of such Grantor. Notwithstanding anything to the contrary

  
 6 

 
in any Loan Document, no Grantor shall be required, nor shall the Collateral Agent be authorized, (A) to perfect any pledge, security interest or mortgage by any means other than through
(x) any filing pursuant to the Uniform Commercial Code in the office of the secretary of state (or similar central filing office) of the relevant jurisdictions and any filing in any applicable real estate records in the United States with
respect to any Mortgaged Property or any fixture relating to any Mortgaged Property, (y) any filing in the United States Copyright Office or the United States Patent and Trademark Office (and any successor office) with respect to Intellectual
Property (and the Collateral Agent is further authorized to file such documents with the United States Patent and Trademark Office, the United States Copyright Office) or (z) delivery to the Collateral Agent to be held in its possession of all
Collateral consisting of stock certificates representing the Pledge Stock and Intercompany Notes with a fair market value in excess of $5 million, (B) to enter into any account control agreement or lockbox or similar arrangement with
respect to any Deposit Account, securities account or commodities account, or (C) to take any action in or required by a jurisdiction other than the United States or with respect to any asset located or titled outside of the United States (and
there shall be no guarantee, security agreement or pledge agreement governed by the laws of any such non-U.S. jurisdiction). 

ARTICLE 3 REPRESENTATIONS AND WARRANTIES 
 Each
Grantor hereby represents and warrants to the Collateral Agent and the Secured Parties that: 
 Section 3.01. Title; No Other Liens.
Such Grantor owns or has rights in each item of its Collateral free and clear of any and all Liens or claims of others other than Permitted Liens. To the knowledge of each Grantor, no financing statement, security agreement, mortgage or other public
notice, in any such case authorized by any such Grantor, with respect to all or any part of the Collateral is on file or of record in any public office, except such as have been filed with respect to Permitted Liens. 

Section 3.02. Perfected Security Interests. 

(a) Each Security Interest, upon execution and delivery of this Agreement and completion of the filings and other actions specified on Schedule
3.02 (which, in the case of all filings and other documents referred to on said Schedule, have been delivered to the Collateral Agent in completed and duly executed form), will constitute valid, perfected (to the extent it can be perfected by the
completion of such filings and other applicable actions under applicable law), separate and distinct security interests in all of the Collateral in favor of the Collateral Agent, for the benefit of the Secured Parties, as collateral security for the
Secured Obligations, enforceable in accordance with the terms hereof against all creditors of such Grantor, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or
affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 

(b) The Security Interests are prior to all other Liens on the Collateral except for other Permitted Liens which have priority over, or parity
with, the Security Interests by to the extent not prohibited by the Credit Agreement; provided that no representations are made with respect to the requirements of any laws of any jurisdiction other than the United States or any State thereof with
respect to the perfection or priority of the Security Interests. 

  
 7 

 Section 3.03. Perfection Certificate. Such Grantor has delivered a Perfection
Certificate to the Collateral Agent. The information set forth therein is correct and complete in all material respects as of the date hereof. 

Section 3.04. [Reserved]. 

Section 3.05. Pledged Securities. (a) The shares of Pledged Stock pledged by such Grantor in Schedule 3 to the Perfection
Certificate, as of the Closing Date are directly beneficially owned by the Grantor. 
 (b) As of the Closing Date, all the shares of the
Pledged Stock have been duly and validly issued and are fully paid and non-assessable. 
 (c) Each of
the Intercompany Notes scheduled on Schedule 4 to the Perfection Certificate, when issued, will constitute the legal, valid and binding obligation of the obligor with respect thereto, enforceable in accordance with its terms, subject to the effects
of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and
an implied covenant of good faith and fair dealing. 
 (d) Such Grantor is the record and beneficial owner of, and has good and marketable
title to, the Pledged Securities pledged by it hereunder, free of any and all liens or options in favor of, or claims of, any other Person, except Permitted Liens. 

Section 3.06. Commercial Tort Claims. On the date hereof, all Commercial Tort Claims in an amount in excess of $5 million held by
such Grantor are listed in Schedule 6 to the Perfection Certificate. 
 ARTICLE 4 COVENANTS 

Each Grantor covenants and agrees with the Collateral Agent and the Secured Parties that, from and after the Closing Date until the Final
Release Date: 
 Section 4.01. Delivery of Instruments and Certificated Securities. If any amount payable under or in connection with
any of the Collateral shall be or become evidenced by any Instrument or Certificated Security, such Instrument or Certificated Security, in the case of Instruments, in an amount in excess of $5 million, shall be delivered to the Collateral
Agent, duly indorsed to the Collateral Agent, to be held as Collateral pursuant to this Agreement. 
 Section 4.02. Maintenance of
Perfected Security Interests. Such Grantor shall maintain each of the Security Interests as perfected security interests having the priority described in Section 3.02 and shall take such actions as the Collateral Agent or the Required Lenders
may reasonably request to defend the Security Interests against the claims and demands of all Persons whomsoever (other than with respect to claims and demands by the beneficiaries of any Security Interests granted or permitted hereunder). 

Section 4.03. Changes in Locations, Name, etc. Such Grantor will not: (i) change its jurisdiction of organization or the location of
its chief executive office or sole place of business from that referred to in Schedule 2 to the Perfection Certificate, or (ii) change its name, identity or corporate or other organizational structure, in each case, unless written notice of
such change is 

  
 8 

 
furnished to the Collateral Agent in accordance with the terms of the Credit Agreement within 45 days (or such later period as the Collateral Agent agrees) after such change. Prior to such 45 day
period (or later period), such Grantor shall deliver to the Collateral Agent additional financing statements and other documents that are necessary, or that are reasonably requested by the Collateral Agent to maintain the validity, perfection and
priority of the security interests provided for herein. 
 Section 4.04. Notice. Promptly after having knowledge thereof, such Grantor
will notify in writing the Collateral Agent, in reasonable detail, of any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect, in a material respect, the ability of the Collateral Agent to exercise any of its
remedies hereunder. 
 Section 4.05. Investment Property. (a) If such Grantor shall receive any certificate, money or property, in
respect of the Capital Stock of any Investment Property Issuer pledged by a Grantor, whether in addition to, in substitution of, as a conversion of, or in exchange for, any Investment Property, or otherwise in respect thereof, such Grantor shall
accept the same as the agent of the Collateral Agent, hold the same in trust for the Collateral Agent and deliver the same forthwith to the Collateral Agent in the exact form received, duly indorsed by such Grantor to the Collateral Agent, if
required, together with an undated stock power covering such certificate duly executed in blank by such Grantor (if required to perfect the Collateral Agent’s Lien over such Investment Property), to be held by the Collateral Agent, subject to
the terms hereof, as additional collateral security for the Secured Obligations of such Grantor within 60 days (or later, if agreed to by the Collateral Agent) after receipt thereof, as required by Section 6.9 of the Credit Agreement. At all
times while an Event of Default has occurred and is continuing, any sums paid upon or in respect of the Investment Property pledged by such Grantor upon the liquidation or dissolution of any Investment Property Issuer shall be paid over to the
Collateral Agent to be held by it hereunder as additional collateral security for the Secured Obligations of such Grantor, and in case any distribution of capital shall be made on or in respect of the Investment Property pledged by such Grantor or
any property shall be distributed upon or with respect to the Investment Property pledged by such Grantor pursuant to the recapitalization or reclassification of the capital of any Investment Property Issuer or pursuant to the reorganization
thereof, the property so distributed shall, unless otherwise subject to a perfected security interest in favor of the Collateral Agent, be delivered to the Collateral Agent to be held by it hereunder as additional collateral security for the Secured
Obligations of such Grantor. 
 (b) In the case of each Grantor which is an Investment Property Issuer, such Investment Property Issuer
agrees that (i) it will be bound by the terms of this Agreement relating to the Investment Property issued by it and will comply with such terms insofar as such terms are applicable to it and (ii) the terms of Section 5.01(b) shall
apply to it, mutatis mutandis, with respect to all actions that may be required of it pursuant to Section 5.01(b) with respect to the Investment Property issued by it. 

Section 4.06. Intellectual Property. (a) Schedule 5 of the Perfection Certificate lists all (i) Intellectual Property included
in the Collateral consisting of United States Patents, Trademarks, Copyrights and (ii) exclusive Copyright Licenses included in the Collateral with respect to a registered United States Copyright under which a Grantor is a licensee, in each
case as of the date hereof. 

  
 9 

 (b) Such Grantor will notify the Collateral Agent and the Administrative Agent if it knows
that any Intellectual Property owned by such Grantor that is material to Company and its Subsidiaries, taken as a whole (“Material Intellectual Property”), may become forfeited, abandoned or dedicated to the public, or of any
adverse determination or development (including, without limitation, the institution of, or any such adverse determination or development in, any proceeding in the United States Patent and Trademark Office or the United States Copyright Office)
challenging such Grantor’s ownership of, or the validity of, any such Material Intellectual Property or such Grantor’s right to register the same or to own and maintain the same. 

(c) If during any fiscal year such Grantor, either by itself or through any agent, employee, licensee or designee, shall (i) file an
application for a Patent with the United States Patent and Trademark Office, or an application for the registration of any Trademark with the United States Patent and Trademark Office, (ii) otherwise acquire any Patent or Trademark issued by,
registered with, or applied for in the United States Patent and Trademark Office, or any Copyright registered with the United States Copyright Office, or (iii) file a “Statement of Use” or an “Amendment to Allege
Use” with respect to any intent-to-use Trademark application owned by such Grantor, such Grantor shall report such acquisition or filing to the Collateral Agent
concurrently with the delivery of annual financial statements for such fiscal year as required by the Credit Agreement (or such later time as agreed to by the Collateral Agent) and execute and deliver, and authorize the Collateral Agent to record
any and all agreements, instruments, documents, and papers as the Collateral Agent may reasonably request to evidence the Collateral Agent’s security interest in any such Copyright, Patent or Trademark and the goodwill and general intangibles
of such Grantor relating thereto or represented thereby. 
 (d) Such Grantor will take all reasonable and necessary steps, including, without
limitation, in any proceeding before the United States Patent and Trademark Office or the United States Copyright Office, to maintain and pursue each application (and to obtain the relevant registration) and to maintain each registration of the
Material Intellectual Property, including, without limitation, filing of applications for renewal, affidavits of use and affidavits of incontestability; provided that such Grantor may permit (i) the lapse or abandonment of any such Material
Intellectual Property in the ordinary course of business or consistent with past practice or otherwise in accordance with the Company’s reasonable business judgment and (ii) the expiration of any Intellectual Property in accordance with
its statutory term. 
 (e) In the event that any Material Intellectual Property is infringed, misappropriated or diluted by a third party,
such Grantor shall take such actions in accordance with the such Grantor’s reasonable business judgment to protect such Material Intellectual Property (which may include the grant of a license to such third party). 

Section 4.07. Commercial Tort Claims. Each Grantor agrees that within 60 days (or such later date as agreed to by the Collateral Agent)
of the identification of the existence of any Commercial Tort Claim in an amount in excess of $5 million, such Grantor shall notify the Collateral Agent of such Commercial Tort Claim, and shall execute such additional documents as shall be
required to ensure that such Commercial Tort Claim is subject to each of the Security Interests hereunder. Unless otherwise agreed, the grant of a security interest in any such Commercial Tort Claim shall not prejudice the right of such Grantor to
prosecute, enforce or exercise any of its rights in connection with such Commercial Tort Claim. 
 Section 4.08. Certification of
Limited Liability Company and Limited Partnership Interest. Any equity interest in any limited liability company or limited partnership controlled by any Grantor and required to be pledged pursuant to this Agreement either (i) shall be
represented by a certificate, shall be a “security” within the meaning of Article 8 of the New York UCC, and 

  
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shall be delivered to the Collateral Agent pursuant to Section 4.01 or (ii) not have elected to be treated as a “security” within the meaning of Article 8 of the New York UCC
and shall not be represented by a certificate. To the extent an interest in any limited liability company or limited partnership controlled by any Grantor and required to be pledged pursuant this Agreement is certificated or becomes certificated,
each such certificate shall be delivered to the Collateral Agent, in accordance with Section 4.01. 
 ARTICLE 5 REMEDIAL PROVISIONS 

Section 5.01. Investment Property, Including Pledged Stock. (a) Unless an Event of Default has occurred and is continuing and the
Collateral Agent shall have given the notice to the relevant Grantor of the Collateral Agent’s intent to exercise its corresponding rights required by and pursuant to Section 5.01(b), each Grantor shall be permitted to receive all cash
dividends paid in respect of the Investment Property, paid in the ordinary course of business of the relevant Investment Property Issuer, to the extent permitted under the Credit Agreement, and to exercise all voting and corporate or other
organizational rights with respect to the Investment Property. 
 (b) If an Event of Default has occurred and is continuing and the
Collateral Agent shall give prior written notice (or, solely in the case of clause (ii), at least 3 Business Days’ notice) of its intent to exercise such rights to the relevant Grantor or Grantors, (i) the Collateral Agent shall have the
right to receive any and all cash dividends, payments or other Proceeds paid in respect of the Investment Property pledged by a Grantor and make application thereof as specified in Section 5.03 hereof, and (ii) any or all of the Investment
Property pledged by a Grantor shall be registered in the name of the Collateral Agent or its nominee, and the Collateral Agent or its nominee may (but shall not be obligated to) during such period exercise (x) all voting, corporate and other
rights pertaining to such Investment Property at any meeting of shareholders of the relevant Investment Property Issuer or Investment Property Issuers or otherwise and (y) any and all rights of conversion, exchange and subscription and any
other rights, privileges or options pertaining to such Investment Property as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Investment Property upon the merger,
consolidation, reorganization, recapitalization or other fundamental change in the corporate or other organizational structure of any Investment Property Issuer, or upon the exercise by any Grantor or the Collateral Agent of any right, privilege or
option pertaining to such Investment Property, and in connection therewith, the right to deposit and deliver any and all of the Investment Property with any committee, depositary, transfer agent, registrar or other designated agency upon such terms
and conditions as the Collateral Agent may determine), all without liability except to account for property actually received by it, but the Collateral Agent shall have no duty to any Grantor or Secured Party to exercise any such right, privilege or
option and shall not be responsible for any failure to do so or delay in so doing. After all Events of Default have been cured or waived, each Grantor will have the right to exercise the voting and consensual rights that such Grantor would otherwise
be entitled to exercise pursuant to the terms of Section 5.01(a). 
 (c) Each Grantor hereby authorizes and instructs each Investment
Property Issuer of any Investment Property pledged by such Grantor hereunder to, provided that at least 3 Business Days’ notice has been given (i) comply with any instruction received by it from the Collateral Agent in writing that
(x) states that an Event of Default has occurred and is continuing and (y) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from such Grantor, and each Grantor agrees that each
Investment Property Issuer shall be fully protected in so complying, and (ii) if an Event of Default has occurred and is continuing, pay any dividends or other payments with respect to such Investment Property directly to the Collateral Agent.

  
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 Section 5.02. Proceeds To Be Turned Over to Collateral Agent. If an Event of Default
shall have occurred and be continuing, all proceeds paid in respect of any Collateral received by any Grantor consisting of cash, checks and other similar items shall be held by such Grantor in trust for the Collateral Agent, segregated from other
funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the Collateral Agent, if required). 

Section 5.03. Application of Proceeds. 

All Proceeds of the Collateral received by the Collateral Agent hereunder shall be held and applied in the following order: 

First, to pay incurred and unpaid fees and expenses of the Administrative Agent under the Loan Documents; 

Second, to the Administrative Agent, for application by it towards payment of amounts then due and owing and remaining unpaid in respect of the
Secured Obligations, pro rata among the Secured Parties according to the amounts of the Secured Obligations then due and owing and remaining unpaid to the Secured Parties; 

Third, to the Administrative Agent, for application by it towards prepayment of the Secured Obligations, pro rata among the Secured Parties
according to the amounts of the Secured Obligations then held by the Secured Parties; and 
 Fourth, any balance remaining after the Secured
Obligations shall have been paid in full and the Commitments shall have terminated shall be paid over to the Company or to whomsoever may be lawfully entitled to receive the same. 

Section 5.04. UCC and Other Remedies. If an Event of Default has occurred and is continuing, the Collateral Agent, on behalf of the
Secured Parties, may (but shall not be obligated to) exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Secured Obligations, all
rights and remedies of a secured party under the New York UCC or any other applicable law. Without limiting the generality of the foregoing, the Collateral Agent, without demand of performance or other demand, presentment, protest, advertisement or
notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect,
receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of
the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Collateral Agent or any Secured Party or elsewhere upon such terms and conditions and prices as it may deem advisable,
for cash or on credit or for future delivery without assumption of any credit risk. The Collateral Agent or any Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or
sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Collateral Agent’s request,
to assemble the Collateral and make it available to the Collateral Agent at places which the Collateral Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. The Collateral Agent shall apply the net proceeds of any
action taken by it pursuant to this Section 5.04, after deducting all reasonable costs and expenses of every kind incurred in 

  
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connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Collateral Agent and the Secured Parties
hereunder, including, without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of the Secured Obligations, in the order specified in Section 5.03, and only after such application and after the
payment by the Collateral Agent of any other amount required by any provision of law, including, without limitation, Article 9 of the New York UCC, shall the Collateral Agent account for the surplus, if any, to any Grantor. To the extent permitted
by applicable law, each Grantor waives all claims, damages and demands it may acquire against the Collateral Agent or any Secured Party arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or other
disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition. 

Section 5.05. Grant of License to Use Intellectual Property. For the purpose of enabling the Collateral Agent to exercise rights and
remedies under this Agreement, each Grantor, solely during the continuance of an Event of Default, hereby grants to the Collateral Agent a nonexclusive license (exercisable without payment of royalty or other compensation to the Grantors) to use,
exploit, license or sublicense any of the Collateral consisting of Intellectual Property now owned or hereafter acquired by such Grantor, solely in connection with Collateral Agent’s exercise of its rights to the Collateral and remedies under
this Agreement during the continuance of such Event of Default; provided, however, that nothing in this Section 5.05 shall require a Grantor to grant any license that (a) violates the terms of any agreement between a Grantor and a third
party governing the applicable Grantor’s use of such Collateral consisting of Intellectual Property, or gives such third party any right of acceleration, modification or cancellation therein, or (b) is prohibited by any Requirements of
Law; provided further that such licenses to be granted hereunder (i) with respect to Trademarks, shall be subject to the maintenance of quality standards with respect to the goods and services on which such Trademarks are used sufficient to
preserve the validity of such Trademarks and (ii) with respect to trade secrets, shall be subject to standard confidentiality obligations. The use of such license by the Collateral Agent may only be exercised, at the option of the Collateral
Agent, during the continuation of an Event of Default; provided further that any license, sublicense or other transaction entered into by the Collateral Agent in accordance herewith shall be binding upon the Grantors notwithstanding any subsequent
cure of an Event of Default. 
 ARTICLE 6 THE COLLATERAL AGENT 

Section 6.01. Collateral Agent’s Appointment as
Attorney-in-fact, etc. (a) Each Grantor hereby irrevocably constitutes and appoints the Collateral Agent and any officer or agent thereof, with full power of
substitution, as its true and lawful attorney-in-fact while an Event of Default has occurred and is continuing, with full irrevocable power and authority in the place
and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be
necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Agent the power and right, on behalf of such Grantor, without notice (but subject to
Section 5.01(b)) to or assent by such Grantor, to do any or all of the following while an Event of Default has occurred and is continuing: 

(i) in the name of such Grantor or its own name, or otherwise, take possession of and indorse and collect any checks, drafts,
notes, acceptances or other instruments for the payment of moneys due under any Receivable or with respect to any other Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise as the Collateral
Agent may deem as necessary for the purpose of collecting any and all such moneys due under any Receivable or with respect to any other Collateral whenever payable; 

  
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 (ii) in the case of any Intellectual Property, execute and deliver, and have
recorded, any and all agreements, instruments, documents and papers the Collateral Agent may reasonably deem necessary or desirable to evidence the Collateral Agent’s and the Secured Parties’ security interest in such Intellectual Property
and the goodwill and general intangibles of such Grantor relating thereto or represented thereby; 
 (iii) pay or discharge
taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or any insurance called for by the terms of this Agreement and pay all or any part of the premiums therefor and the costs thereof; 

(iv) execute, in connection with any sale provided for in Section 5.04, any endorsements, assignments or other instruments
of conveyance or transfer with respect to the Collateral; and 
 (v) (1) direct any party liable for any payment under
any of the Collateral to make payment of any and all moneys due or to become due thereunder directly to the Collateral Agent or as the Collateral Agent shall direct; (2) ask or demand for, collect, and receive payment of and receipt for, any
and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral; (3) sign and indorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts
against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral; (4) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to
collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral; (5) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral; (6) settle, compromise or
adjust any such suit, action or proceeding and, in connection therewith, give such discharges or releases as the Collateral Agent may deem appropriate; (7) assign any Copyright, Patent or Trademark (along with the goodwill of the business to
which any such Trademark pertains), throughout the world for such term or terms, on such conditions, and in such manner, as the Collateral Agent shall in its reasonable discretion determine; and (8) generally, sell, transfer, pledge and make
any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Collateral Agent were the absolute owner thereof for all purposes, and do, at the Collateral Agent’s option and such Grantor’s
expense, at any time, or from time to time, all acts and things which the Collateral Agent may reasonably deem necessary to protect, preserve or realize upon the Collateral and the Collateral Agent’s and the Secured Parties’ security
interests therein and to effect the intent of this Agreement, all as fully and effectively as such Grantor might do. 
 (b) If any Grantor
fails to perform or comply with any of its agreements contained herein, the Collateral Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement. 

(c) The expenses of the Collateral Agent incurred in connection with actions undertaken as provided in this Section 6.01, from the date of
payment by the Collateral Agent to the date reimbursed by the relevant Grantor, shall be paid by such Grantor to the Collateral Agent on demand. 

  
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 (d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be
done by virtue hereof. All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released. 

Section 6.02. Duty of Collateral Agent. (a) The Collateral Agent’s sole duty with respect to the custody, safekeeping and
physical preservation of the Collateral in its possession, under Article 9 of the New York UCC or otherwise, shall be as provided in this Section 6.02. Neither the Collateral Agent, any Secured Party nor any of their respective officers,
directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any
Grantor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. 
 The powers
conferred on the Collateral Agent and the Secured Parties hereunder are solely to protect the Collateral Agent’s and the Secured Parties’ interests in the Collateral and shall not impose any duty upon the Collateral Agent or any Secured
Party to exercise any such powers. The Collateral Agent and the Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors,
employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 

(b) [Reserved]. 
 (c) Neither the
Collateral Agent nor the Administrative Agent shall be responsible for the existence, genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Security Interests in any of the Collateral,
whether impaired by operation of law or by reason of any of any action or omission to act on its part hereunder, except to the extent such action or omission constitutes gross negligence, or willful misconduct on the part of the Collateral Agent,
for the validity or sufficiency of the Collateral or any agreement or assignment contained therein, for the validity of the title of any Grantor to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or
liens upon the Collateral or otherwise as to the maintenance of the Collateral. 
 (d) The Collateral Agent shall be under no obligation to
exercise any of its rights or powers vested in it by this Agreement (subject to any Applicable Intercreditor Agreement), at the request, order or direction of the Administrative Agent or any Secured Party, pursuant to the provisions of this
Agreement, unless the Administrative Agent or any Secured Party shall have offered to the Collateral Agent security or indemnity satisfactory to the Collateral Agent against the losses costs, expenses and liabilities (including, without limitation,
reasonable attorneys’ fees) which might be incurred therein or thereby. 
 (e) [Reserved]. 

(f) In exercising any right, power or discretion under this Agreement and any other Security Document, the Collateral Agent shall be entitled
to seek the direction of the Administrative Agent. 

  
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 Section 6.03. Execution of Financing Statements. Pursuant to Article 9 of the New York
UCC and any other applicable law, each Grantor authorizes the Collateral Agent to file or record, or cause to be filed or recorded, at such Grantor’s expense, financing statements and other filing or recording documents or instruments with
respect to the Collateral now existing or hereafter created without the signature of such Grantor naming such Grantor as debtor and the Collateral Agent as secured party, in such jurisdictions as are necessary to perfect the security interests of
the Collateral Agent under this Agreement. Each Grantor authorizes the Collateral Agent to use the collateral description “all assets” or a similar description in any such financing statements. A photographic or other reproduction of this
Agreement shall be sufficient as a financing statement or other filing or recording document or instrument for filing or recording in any jurisdiction. 

ARTICLE 7 MISCELLANEOUS 
 Section 7.01.
Amendments in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except by an instrument in writing executed by the Grantors and by the Collateral Agent. 

Section 7.02. Notices. All notices, requests and demands to or upon the Collateral Agent or any Grantor hereunder shall be effected in
the manner provided for in Section 10.2 of the Credit Agreement; provided that any such notice, request or demand to or upon any Subsidiary Grantor shall be addressed to such Subsidiary Grantor c/o Company and that any such notice, request or
demand to or upon the Collateral Agent shall be addressed to the Collateral Agent at its notice address set forth in the Credit Agreement. 

Section 7.03. No Waiver by Course of Conduct; Cumulative Remedies. Neither the Collateral Agent nor any Secured Party shall by any act
(except by a written instrument pursuant to Section 7.01), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Event of Default. No failure to exercise, nor any delay in
exercising, on the part of the Collateral Agent or any Secured Party, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or
further exercise thereof or the exercise of any other right, power or privilege. A waiver by the Collateral Agent or any Secured Party of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which
the Collateral Agent or such Secured Party would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided by
law. 
 Section 7.04. Successors and Assigns. This Agreement shall be binding upon the successors and permitted assigns of each Grantor
and shall inure to the benefit of the Collateral Agent and the Secured Parties and their successors and permitted assigns; provided that no Grantor may assign, transfer or delegate any of its rights or obligations under this Agreement without the
prior written consent of the Collateral Agent or as otherwise expressly permitted in the Credit Agreement. 
 Section 7.05.
Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of
an executed signature page of this Agreement by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

  
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 Section 7.06. Severability. Any provision of this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 Section 7.07. Section Headings.
The Section headings used in this Agreement are solely for convenience of reference only and shall not constitute a part of this Agreement or affect the meaning, construction or effect of any provision hereof. 

Section 7.08. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 Section 7.09. Submission to Jurisdiction; Waivers.
Each party hereto hereby irrevocably and unconditionally: 
 (a) submits for itself and its property in any legal action or proceeding
relating to this Agreement and the Security Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York in New York County, the
courts of the United States of America for the Southern District of New York, and appellate courts from any thereof; provided, that nothing contained herein or in any other Security Document will prevent the Collateral Agent or any Secured Party
from bringing any action to enforce any award or judgment or exercise any right under the Security Documents or against the Collateral or any other property of any Grantor in any other forum in which jurisdiction can be established; 

(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; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail
(or any substantially similar form of mail), postage prepaid, to such Grantor or such other party hereto at its address referred to in Section 7.02 or at such other address of which the Collateral Agent shall have been notified pursuant
thereto; 
 (d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall
limit the right to sue in any other jurisdiction; and 
 (e) waives, to the maximum extent not prohibited by law, any right it may have to
claim or recover in any legal action or proceeding referred to in this Section 7.09 any special, exemplary, punitive or consequential damages. 

Section 7.10. Acknowledgements. Each Grantor hereby acknowledges that: 

(a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement, the Credit Agreement and the other Security
Documents to which it is a party; 

  
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 (b) neither the Collateral Agent nor any Secured Party has any fiduciary relationship with
or duty to any Grantor arising out of or in connection with this Agreement or the other Security Documents, and the relationship between the Grantors, on the one hand, and the Collateral Agent and the Secured Parties, on the other hand, in
connection herewith or therewith is solely that of debtor and creditor; and 
 (c) no joint venture is created hereby or by any of the
Security Documents, or otherwise exists by virtue of the transactions contemplated hereby among the Secured Parties or among the Grantors and the Secured Parties. 

Section 7.11. Additional Grantors. Each Subsidiary of Company that is required to become a party to this Agreement pursuant to
Section 6.9 of the Credit Agreement shall become a Grantor for all purposes of this Agreement upon execution and delivery by such Subsidiary of an Assumption Agreement in the form of Exhibit A hereto in the time periods required by
Section 6.9 of the Credit Agreement. 
 Section 7.12. Termination of Security Interests; Release of Collateral. 

(a) The Security Interests shall terminate on the Final Release Date. 

(b) Notwithstanding anything herein to the contrary, this Agreement shall not apply and shall cease to be effective, without delivery of any
instrument or performance of any act by any party, upon the occurrence and during the continuation of a Suspension Period Event; provided that this Agreement shall be automatically reinstated and shall become immediately effective, without delivery
of any instrument or performance of any act by any party, at any time that the requirements of a Suspension Period Event are no longer satisfied. 

(c) [Reserved]. 
 (d) (i) If
any of the Collateral shall be sold, transferred or otherwise disposed of by any Grantor in a transaction not prohibited by the Credit Agreement (but other than to any other Grantor), including pursuant to Section 7.5 thereof, (ii) so long
as no Event of Default has occurred and is continuing, to the extent Collateral becomes “Excluded Assets” or constitutes assets of an Excluded Subsidiary in a transaction permitted under the Credit Agreement, (iii) if a transaction
has been consented to pursuant to Section 10.1 of the Credit Agreement or (iv) if Collateral is transferred to a Foreign Subsidiary (other than a Foreign Subsidiary Borrower) pursuant to Section 7.5(r) of the Credit Agreement, then
the Security Interests on such Collateral shall be automatically released upon the consummation of such sale, transfer or other disposition. The Collateral Agent, at the request and sole expense of such Grantor, shall execute and deliver to such
Grantor all releases or other documents reasonably necessary or desirable or requested by the applicable Grantor to evidence the release of the Security Interests on such Collateral effected pursuant to this Section 7.12(d); provided that as a
condition precedent to the execution of any such releases or other documents, the Company shall have delivered to the Collateral Agent, a written request for release identifying the relevant Grantor, together with a certification by the Company
stating that such transaction is in compliance with the Credit Agreement. 
 (e) If (x)(i) all or a portion the Capital Stock of a Subsidiary
Grantor shall be sold, transferred or otherwise disposed of (other than to any other Grantor), (ii) a Subsidiary Grantor shall enter into any merger, consolidation or amalgamation with a Person that is not a Grantor (and is not required to be a
Grantor) and such Subsidiary Grantor is not the survivor of such merger, 

  
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consolidation or amalgamation, or (iii) a Subsidiary Grantor shall liquidate, wind up or dissolve itself (or be liquidated or dissolved), in the case of each of clauses (i), (ii) and
(iii) pursuant to a transaction not prohibited by the Credit Agreement, (y) a Subsidiary Grantor is designated an “Unrestricted Subsidiary” in accordance with Section 6.10 of the Credit Agreement and the definition of
“Unrestricted Subsidiary” in the Credit Agreement or (z) a Subsidiary Guarantor is otherwise released from its obligations under the Guarantee Agreement in accordance with the terms of the Guarantee Agreement and/or the Credit
Agreement, in each case such Subsidiary Grantor shall be automatically released from its obligations hereunder. The Collateral Agent, at the request and sole expense of such Grantor, shall execute and deliver to such Grantor all releases or other
documents reasonably necessary or desirable or requested by the applicable Grantor to evidence the release of the Security Interests on such Collateral effected pursuant to this Section 7.12(e); provided that as a condition precedent to the
execution of any such releases or other documents, the Company shall have delivered to the Collateral Agent, a written request for release identifying the relevant Grantor, together with a certification by the Company stating that such transaction
is in compliance with the Credit Agreement. 
 (f) Upon the termination of any Security Interests in accordance with any of clauses (a), (d)
and (e) above and upon the occurrence and during the continuation of a Suspension Period Event in accordance with clause (b) above, the Collateral shall be released from such Security Interests, all without delivery of any instrument or
performance of any act by any party; provided that, to the extent such Collateral was released from the Security Interests upon the occurrence and during the continuation of a Suspension Period Event in accordance with clause (b) above, such
Security Interests shall be automatically reinstated, granted and shall become immediately effective, all without delivery of any instrument or performance of any act by any party, at any time that the requirements of a Suspension Period Event are
no longer satisfied. Upon the occurrence of the Final Release Date, this Agreement and all obligations (other than those expressly stated to survive such termination) of the Collateral Agent and each Grantor hereunder shall terminate, all without
delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the relevant Grantors. At the request and sole expense of any Grantor following the Final Release Date, the Collateral Agent shall
deliver to such Grantor any Collateral held by the Collateral Agent hereunder, and execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such termination. 

(g) Upon the termination of any Security Interests in accordance with clause (a) above or upon the occurrence and during the continuation
of a Suspension Period Event in accordance with clause (b) above, at the request and sole expense of any Grantor, the Collateral Agent shall execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence
such termination of the Security Interests; provided that, to the extent such Security Interests were terminated upon the occurrence and during the continuation of a Suspension Period Event in accordance with clause (b) above, within twenty
(20) Business Days after the first date that the requirements of such Suspension Period Event are no longer satisfied, each Grantor shall (i) execute and deliver to the Collateral Agent such amendments to this Agreement or such other
documents as are necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a security interest in the Collateral and (ii) take all actions necessary or advisable to grant to the Collateral Agent, for the
benefit of the Secured Parties, a perfected security interest in the Collateral having at least the priority described in Section 3.02, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be
required by this Agreement or by law or as may be reasonably requested by the Administrative Agent or the Collateral Agent. 

  
 19 

 (h) The Collateral Agent will, at any time, upon the written instruction of the
Administrative Agent, at the sole expense of the relevant Grantor, execute and deliver to the relevant Grantor all releases or other documents reasonably necessary or desirable for any release contemplated above in this Section 7.12 of the
Security Interests securing the Secured Obligations with respect to which the Administrative Agent is the Administrative Agent in the Collateral specified by the Administrative Agent in such instruction; provided that, to the extent such Security
Interests were released upon the occurrence and during the continuation of a Suspension Period Event in accordance with clause (b) above, within twenty (20) Business Days after the first date that such Suspension Period Event is no longer
satisfied, each Grantor shall (i) execute and deliver to the Collateral Agent such amendments to this Agreement or such other documents as are necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a
security interest in the Collateral and (ii) take all actions necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a perfected security interest in the Collateral having at least the priority
described in Section 3.02, including the filing of Uniform Commercial Code financing statements in such United States jurisdictions as may be required by this Agreement or by law or as may be reasonably requested by the Administrative Agent or
the Collateral Agent. 
 (i) By acceptance of the benefits hereof, each Secured Party acknowledges and consents to the provisions of this
Section 7.12, agrees that the Collateral Agent shall incur no liability whatsoever to any Secured Party for any release effected by the Collateral Agent in accordance with this Section 7.12 and agrees that the Administrative Agent shall
not incur any liability whatsoever to any Secured Party for any release directed or consented to by it in accordance with the Credit Agreement. 

(j) So long as no Event of Default has occurred and is continuing, if any Subsidiary becomes an Excluded Subsidiary in a transaction permitted
under the Credit Agreement, the primary purpose of which transaction is not to effect the release of such Subsidiary from its obligations under the Loan Documents, (i) such Excluded Subsidiary shall be automatically released from its
obligations hereunder as a Grantor, (ii) any Security Interest on the Capital Stock of such Excluded Subsidiary shall be automatically released except to the extent that this agreement otherwise permits a Security Interest on the Capital Stock
of an Excluded Subsidiary and (iii) any Security Interest on the assets of such Excluded Subsidiary shall be automatically released. 

Section 7.13. [Reserved] 

Section 7.14. Waiver of Jury Trial. EACH OF THE GRANTORS, AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, EACH OF THE COLLATERAL AGENT AND THE
SECURED PARTIES, HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER SECURITY DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 

Section 7.15. Applicable Intercreditor Agreement. Notwithstanding anything herein to the contrary, the liens and security interests
granted pursuant to this Agreement and the exercise of any right or remedy with respect thereto are subject to the provisions of an Applicable Intercreditor Agreement then in effect. In the event of any conflict or inconsistency between the
provisions of any Applicable Intercreditor Agreement and this Agreement, the provisions of such Applicable Intercreditor Agreement shall control. 

  
 20 

 Section 7.16. The Administrative Agent. The Grantors and the Secured Parties
acknowledge that when acting hereunder, including without limitation, when exercising any discretion or right to direct the Collateral Agent, the Administrative Agent shall be entitled to all of the rights, privileges, protections, immunities and
benefits given to the Administrative Agent under the Credit Agreement, including, without limitation, its right to be indemnified. 

Section 7.17. [Reserved]. 

Section 7.18. Extensions. Notwithstanding anything to the contrary set forth in this Agreement or the other Loan Documents, the
Collateral Agent may, at the direction of the Administrative Agent (which shall give such direction in the Administrative Agent’s sole discretion), grant extensions of time for the creation and perfection of security interests in or the
obtaining of title insurance, legal opinions or other deliverables with respect to particular assets of any Loan Party (including extensions beyond the Closing Date or in connection with assets acquired, or Subsidiaries formed or acquired, after the
Closing Date). 
 [SIGNATURE PAGES FOLLOW] 

  
 21 

 IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed
and delivered as of the date first above 
 KONTOOR BRANDS, INC. 
  

			
	By:	 	
	Name:
	Title:
	
	[GRANTORS]
		
	By:	 	
	Name:
	Title:

  
 22 

			
	JPMorgan Chase Bank, N.A., as
	Collateral Agent
		
	By:	 	
	Name:	 	
	Title:	 	

  
 23 

 Schedule 3.02 

to Collateral Agreement 
 Perfection
Matters 
 UCC-1s filed by the below Grantors, each in the filing office specified. 

 

			
	 GRANTOR
	  	 FILING OFFICE

	Kontoor Brands, Inc.	  	North Carolina
		
	RETAIL PRODUCTIVITY MANAGEMENT, INC.	  	Delaware
		
	VF Jeanswear Sales, Inc.	  	Delaware
		
	VF Outlet, Inc.	  	Delaware
		
	Kontoor Enterprises, LLC	  	Delaware
		
	The H.D. Lee Company, Inc.	  	Delaware
		
	R&R Apparel Company, LLC	  	Delaware
		
	VFJ Ventures, LLC	  	Delaware
		
	Wrangler Apparel Corp.	  	Delaware
		
	Jeanswear Receivables, LLC	  	Delaware
		
	Jeanswear Services, LLC	  	Delaware
		
	Jeanswear Ventures, LLC	  	Delaware
		
	VF Jeanswear Limited Partnership	  	Delaware

  
 24 

 Exhibit A 

to Collateral Agreement 

ASSUMPTION AGREEMENT, dated as of [    ], 20[    ], made by [    ] (the
“Additional Grantor”), in favor of JPMorgan Chase Bank, N.A., not individually but solely as Collateral Agent (the “Collateral Agent”) under the Collateral Agreement, dated as of May 17, 2019 (as amended,
supplemented or otherwise modified from time to time, the “Collateral Agreement”), among Kontoor Brands, Inc., a North Carolina corporation (the “Company”), certain Subsidiaries of Company parties thereto and the
Collateral Agent. 
 W I T N E S E T H : 

WHEREAS, Company and certain of its Subsidiaries (other than the Additional Grantor) have entered into the Collateral Agreement in favor of
the Collateral Agent for the benefit of the Secured Parties; 
 WHEREAS, the Additional Grantor desires to become a party to the Collateral
Agreement as a Grantor thereunder; and 
 WHEREAS, terms defined in the Collateral Agreement and not otherwise defined herein have, as used
herein, the respective meanings provided for therein; 
 NOW, THEREFORE, IT IS AGREED: 

1. Collateral Agreement. By executing and delivering this Assumption Agreement, the Additional Grantor, as provided in Section 7.11 of the
Collateral Agreement, hereby becomes a party to the Collateral Agreement as a Grantor thereunder with the same force and effect as if originally named therein as a Grantor and, without limiting the generality of the foregoing, hereby expressly
assumes all obligations and liabilities of a Grantor thereunder. The information set forth in Annex 1-A hereto is hereby added to the information set forth in the Schedules to the Collateral Agreement. The
Additional Grantor hereby represents and warrants that each of the representations and warranties contained in Article 3 of the Collateral Agreement is true and correct on and as the date hereof (after giving effect to this Assumption Agreement) as
if made on and as of such date. 
 2. Governing Law. THIS ASSUMPTION AGREEMENT AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION
(WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written.

 [ADDITIONAL GRANTOR] 
  

			
	By:	 	
	Name:
	Title:

  
 25 

 Annex 1-A 

to Assumption Agreement 
 Supplement
to Schedule 3.02 

  
 26 

 Exhibit B 

to Collateral Agreement 
 PERFECTION
CERTIFICATE 
 [Attached] 

  
 27 

 EXHIBIT B 

TO THE CREDIT AGREEMENT 
 FORM OF

 COMPLIANCE CERTIFICATE 
 [For
the Fiscal Quarter ending         ] 
 [For the Fiscal Year ending
        ] 
 Pursuant to Section 6.2(b) of the Credit Agreement, dated as of
[    ], 2019 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”; terms defined therein being used herein as therein defined unless otherwise defined), among KONTOOR BRANDS,
INC. (the “Company”), LEE WRANGLER INTERNATIONAL SAGL, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties thereto, the several banks and other financial institutions or entities from time
to time parties thereto (the “Lenders”) and JPMORGAN CHASE BANK, N.A., as Administrative Agent, the undersigned, duly elected, qualified and acting Responsible Officer of the Company hereby certifies that: 

As of the date hereof such Responsible Officer has obtained no knowledge of any Default or Event of Default except as follows:
                                . 

The financial statements referred to in Section 6.1 of the Credit Agreement which have been delivered concurrently with the delivery of
this Compliance Certificate fairly present in all material respects the consolidated financial position of the Company and its consolidated Subsidiaries as at the date of such financial statements, and the consolidated results of their operations
and their consolidated cash flows for the fiscal quarter then ended (subject to normal year-end audit adjustments in the case of quarterly financial statements). Such financial statements have been prepared in
accordance with GAAP applied consistently throughout the period involved and with prior periods (except as approved by a Responsible Officer and disclosed therein). 

The covenants as listed and calculated in Attachment 1 are based on the financial statements referred to in Section 6.1 of the Credit
Agreement which are delivered concurrently with the delivery of this Compliance Certificate. 
 [Attached hereto as Attachment 2 is a
calculation of Excess Cash Flow for the most recent fiscal year.]1 
  

	1 	 To be included in any Compliance Certificate delivered in connection with annual financial statements pursuant
to Section 6.1(a) of the Credit Agreement from and after the first full fiscal year ending after the Closing Date. 

 IN WITNESS WHEREOF, I have hereto set my name in my capacity as an officer of the Company.

 Dated: 
  

			
	By:	 	
                 

	Name:	 	
	Title: [ Responsible Officer of the Company]

 Attachment 1 

to Compliance Certificate 
  

					
	 1.  Total Leverage Ratio2
(Section 7.1(a))
	  			
		
	 The ratio of
  

(i) The result of (x) Consolidated Total Debt as of the last day of the Test Period most recently completed
less (y) Netted Cash as of the last day of the Test Period most recently completed
	  	$	___________	 
		
	 to
  

(ii)  Consolidated EBITDA of the Company and its Subsidiaries for the Test Period most recently
completed
	  	$	___________	 
		
	 Ratio:
  

(must not be greater than [4.00]3 [4.50]4 to 1.00)
	  	 	___________	 
		
	 2.  Consolidated Interest Coverage Ratio (Section 7.1(b))

 
 The ratio of

 
 (i) Consolidated EBITDA of the Company and
its Subsidiaries for the Test Period most recently completed
	  	$	___________	 
		
	 to
  

(ii)  Consolidated Interest Expense of the Company and its Subsidiaries for the Test Period most recently
completed
	  	$	___________	 
		
	 Ratio:
  

(must not be less than 3.00 to 1.00)
	  	 	___________	 

  
  

 

	2 	 See Schedule 1 for calculations. 

	3 	 Select this option commencing with the Test Period for which the last fiscal quarter is the first full fiscal
quarter ending after the Closing Date. 

	4 	 Select this option, at the written election of the Company not later than the date on which financial
statements are required to be delivered pursuant to Section 6.1 in respect of the fiscal period in which a Material Acquisition is consummated, for each of the four succeeding Test Periods ending immediately following the consummation of such
Material Acquisition (including the first Test Period ending after the consummation of such Material Acquisition) (the “Increased Test Periods”); provided, however, that, (1) the Total Leverage Ratio as at the last day of each
of the two Test Periods immediately succeeding the last Increased Test Period shall be equal to or less than 4.00 to 1.00 (irrespective of whether any other Material Acquisition has been consummated during such period) and (2) the Company may
make only two such elections during the term of the Credit Agreement. 

  

 Schedule 1 to Attachment 1 

Compliance Certificate 

Calculations 
  

					
	 Consolidated Total Debt: for the Company and its Subsidiaries as of the last day of the most recently completed
Test Period, without duplication, shall be:
  
 the aggregate principal amount of debt
of the Company and its Subsidiaries at such date in an amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting
from the application of purchase accounting in connection with any permitted Investment) consisting of:
  

(a) Indebtedness for borrowed money,
	  	$	 _________	 
		
	 (b) obligations evidenced by notes, bonds (excluding surety bonds),
	  	$	 _________	 
		
	 (c) debentures or similar instruments (other than an operating lease, synthetic lease or similar arrangement),
	  	$	 _________	 
		
	 (d) purchase money indebtedness,
	  	$	 _________	 
		
	 (e) Capital Lease Obligations
	  	$	__________	 
		
	CONSOLIDATED TOTAL DEBT	  	$	__________	 
		
	 Netted Cash: for the Company and its Subsidiaries as of the most recently completed Test Period, without
duplication, shall be:
  
 the sum of

 
 (a) the aggregate amount of all unrestricted cash and Cash
Equivalents of the Company and its Domestic Subsidiaries as of such date,
	  	$	__________	 
		
	 (b) 80% of the unrestricted cash and Cash Equivalents of the Foreign Subsidiaries as of such date
	  	$	__________	 
		
	NETTED CASH	  	$	__________	 
		
	 Consolidated EBITDA: for the most recently completed Test Period with respect to the Company and its
Subsidiaries:
	  			
		
	 Consolidated Net Income for such period
	  	$	__________	 
		
	 plus the sum of (without duplication and to the extent deducted (and not added back) or not included in
calculating Consolidated Net Income for such period)
	  			
		
	 (a) income tax expense,
	  	$	__________	 
		
	 (b) Consolidated Interest Expense, amortization or writeoff of debt discount and debt issuance costs and commissions,
discounts and other fees, charges and expenses associated with Indebtedness,
	  	$	__________	 
		
	 (c) depreciation and amortization expense and impairment charges,
	  	$	__________	 
		
	 (d) all premiums and interest rate hedge termination costs in connection with any purchase or redemption of any
Indebtedness,
	  	$	__________	 
		
	 (e) any other non-cash charges (excluding any such charge that constitutes an
accrual of or a reserve for cash charges for any future period),
	  	$	__________	 
		
	 (f) restructuring charges and related charges,
	  	$	__________	 

  
 2 

					
	 (g) pro forma adjustments, “run rate” cost savings, operating expense reductions and cost synergies, in each
case, related to any Specified Transaction consummated by the Company or any of its Subsidiaries and projected by the Company in good faith to result from actions taken or expected to be taken (in the good faith determination of the Company) within
18 months after the date any such Specified Transaction is consummated, and (ii) any pro forma adjustments, “run rate” cost savings, operating expense reductions and cost synergies projected by the Company in good faith to result from
actions either taken or expected to be taken (including in connection with any restructuring initiative, cost savings initiative, new initiative, business optimization activities, cost rationalization programs and/or similar initiatives or programs)
within 18 months after the date of determination to take such action (any such pro forma adjustments, “run rate” cost savings, operating expense reductions or synergies set forth in clauses (i) and (ii), “Expected Cost
Savings”) (in each case, calculated on a Pro Forma Basis as though the full recurring benefit of such Expected Cost Savings had been realized in full on the first day of such period); provided that (A) such Expected Cost Savings are
reasonably identifiable and factually supportable, (B) no Expected Cost Savings shall be added pursuant to this clause (g) to the extent duplicative of any expenses or charges relating to such Expected Cost Savings that are included in
clause (a) through (f) above or (h) through (s) below and (C) the aggregate amount of all adjustments pursuant to this clause (g) (other than to the extent permitted under Regulation S-X, which
shall not be subject to the cap set forth in this proviso) shall not exceed 25% of Consolidated EBITDA (such percentage calculated before any amounts are added to Consolidated EBITDA pursuant to this clause (g)),
	  	$	__________	 
		
	 (h) cash expenses relating to customary earn outs and similar obligations to the extent constituting
Indebtedness,
	  	$	__________	 
		
	 (i) fees and the amount of loss or discount on the sale of accounts receivables and related assets in connection with a
Permitted Receivables Financing,
	  	$	__________	 
		
	 (j) any charge with respect to any liability or casualty event, business interruption or any product recall,
(i) so long as such Person has submitted in good faith, and reasonably expects to receive payment in connection with, a claim for reimbursement of such amounts under its relevant insurance policy within the next four fiscal quarters (with a
deduction in the applicable future period for any amount so added back to the extent not so reimbursed within the next four fiscal quarters) or (ii) without duplication of amounts included in a prior period under the preceding clause (i), to
the extent such charge is covered by insurance, indemnification or otherwise reimbursable by a third party (whether or not then realized so long as the Company in good faith expects to receive proceeds arising out of such insurance, indemnification
or reimbursement obligation within the next four fiscal quarters) (it being understood that if the amount received in cash under any such agreement in any period exceeds the amount of expense paid during such period, any excess amount received may
be carried forward and applied against any expense in any future period),
	  	$	__________	 
		
	 (k) unrealized net losses in the fair market value of any arrangements under Hedge Agreements,
	  	$	__________	 
		
	 (l) the amount of any cash actually received by such Person (or the amount of the benefit of any netting arrangement
resulting in reduced cash expenditures) during such period, and not included in Consolidated Net Income in any period, to the extent that any non-cash gain relating to such cash receipt or netting arrangement
was deducted in the calculation of Consolidated EBITDA for any previous period and not added back,
	  	$	__________	 
		
	 (m) the amount of any non-controlling interest or minority interest charge
consisting of income attributable to minority equity interests of third parties in any non-Wholly Owned Subsidiary
	  	$	__________	 

  
 3 

					
	 (n) any other adjustments, exclusions and add-backs reflected in the financial
model delivered to the Arrangers on or about [    ], 2019,
	  	$	__________	 
		
	 (o) charges, expenses and costs in anticipation of, or preparation for, standalone compliance with the requirements of
the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and charges, expenses and costs in anticipation of, or preparation for, compliance with the provisions of the Securities Act of 1933, as amended, and
the Exchange Act, as applicable to companies with equity or debt securities held by the public and the rules of national securities exchange for companies with listed equity or debt securities, including listing fees,
	  	$	__________	 
		
	 (p) any costs, expenses, fees, fines, penalties, judgments, legal settlements and other amounts associated with any
restructuring, litigation, claim, proceeding or investigation related to or undertaken by the Company or any of its subsidiaries, together with any related provision for taxes,
	  	$	__________	 
		
	 (q) consulting fees, advisory fees, financing fees incurred and taxes incurred or accrued in connection with the
Distribution,
	  	$	__________	 
		
	 (r) costs and expenses incurred in connection with the preparation, negotiation and delivery of the Loan
Documents,
	  	$	__________	 
		
	 (s) any net charge with respect to (i) any disposed, abandoned, divested and/or discontinued asset, property or
operation (other than, at the option of the Company, any asset, property or operation pending the disposal, abandonment, divestiture and/or termination thereof), (ii) any disposal, abandonment, divestiture and/or discontinuation of any asset,
property or operation (other than, at the option of the Company, relating to assets or properties held for sale or pending the divestiture or discontinuation thereof) and/or (iii) any facility that has been closed during such period,
	  	$	__________	 
		
	 The sum of (a) through (s), and
	  	$	__________	 
		
	 minus the sum of (without duplication and to the extent included in the statement of Consolidated Net Income for
such period)
  
 (a) interest income
	  	$	__________	 
		
	 (b) any non-cash income,
	  	$	__________	 
		
	 (c) unrealized net gains in the fair market value of any arrangement under Hedge Agreements.
	  	$	__________	 
		
	 The sum of (a) through (c)
	  	$	__________	 
		
	CONSOLIDATED EBITDA	  	$	__________	 
		
	 Consolidated Interest Expense: for the most recently completed Test Period, the sum of:
	  			

  
 4 

					
	 (a) total cash interest expense of the Company and its Subsidiaries for such period determined in accordance with GAAP
(excluding, to the extent otherwise included in such interest expense, (i) all premiums and interest rate hedge termination costs in connection with any purchase or redemption of any Indebtedness, (ii) any fees, including upfront fees, and
any other fees and expenses associated or paid in connection with this Agreement or the consummation of the Transaction, (iii) annual agency fee, paid to the Administrative Agent, (iv) fees and expenses associated with any Investment
permitted pursuant to Section 7.8 of the Credit Agreement or any issuance of Capital Stock or Indebtedness permitted hereunder (whether or not consummated), (v) any interest component relating to the accretion or accrual of discounted
liabilities and (vi) any writeoff of unamortized debt issuance costs upon any prepayment of any Indebtedness), net of cash interest income.
	  	$	__________	 
		
	CONSOLIDATED INTEREST EXPENSE	  	$	__________	 

  
 5 

 Attachment 2 

to Compliance Certificate 

Excess Cash Flow 
  

					
	 Excess Cash Flow: for any fiscal year, an amount equal to
  

(a) the sum, without duplication, of:
	  			
		
	(i) Consolidated Net Income for such fiscal year, adjusted to exclude any gains or losses attributable to Asset Sale or Recovery Events or the incurrence by the Company or any Subsidiary of any Indebtedness (other than any
Indebtedness permitted to be incurred under Section 7.2 of the Credit Agreement)	  	$	__________	 
		
	(ii) depreciation, depletion, amortization and other non-cash charges, expenses or losses, including the non-cash portion of interest expense or any
deferred tax expense, deducted in determining such consolidated net income or loss for such fiscal year	  	$	__________	 
		
	(iii) the sum of (x) the amount, if any, by which Net Working Capital decreased during such fiscal year (except as a result of the reclassification of items from short-term to long-term or vice-versa) and (y) the net
amount, if any, by which the consolidated deferred revenues of the Company and its consolidated Subsidiaries increased during such fiscal year	  	$	__________	 
		
	(iv) income tax expense, including penalties and interest, to the extent deducted in determining Consolidated Net Income for such period,	  	$	__________	 
		
	(v) cash inflows in respect of Hedge Agreements during such fiscal year to the extent they exceed the amount of expenditures expensed in determining Consolidated Net Income for such period	  	$	__________	 
		
	 I. The sum of (a)(i) through (a)(v)
	  	$	__________	 
		
	minus	  			
		
	(b) the sum, without duplication, of:	  			
		
	(i) the amount of all non-cash gains included in arriving at such Consolidated Net Income for such fiscal year	  	$	__________	 
		
	(ii) the sum of (x) the amount, if any, by which Net Working Capital increased during such fiscal year (except as a result of the reclassification of items from long-term to short-term or vice-versa) and (y) the net
amount, if any, by which the consolidated deferred revenues of the Company and its consolidated Subsidiaries decreased during such fiscal year	  	$	__________	 
		
	(iii) without duplication of any amounts that would reduce any Excess Cash Flow payment pursuant to Section 2.13(c) of the Credit Agreement, the sum of, in each case except to the extent financed with Long-Term Indebtedness,
(x) the aggregate amount of Restricted Payments by the Company made in cash for such fiscal year pursuant to Section 7.6(b), 7.6(c), 7.6(g) (solely to the extent attributable to clause (a)(i) of the definition of Available Amount), 7.6 (h)
and 7.6(o) of the Credit Agreement, (y) the aggregate amount of cash consideration paid during such fiscal year by the Company and its consolidated Subsidiaries to make acquisitions permitted by Section 7.8(j) and other Investments
permitted pursuant to Section 7.8(d), 7.8(g), 7.8(j), 7.8(k), 7.8(l) (solely to the extent attributable to clause (a)(i) of the definition of Available Amount), 7.8(q), 7.8(u), 7.8(ee), 7.8(gg), 7.8(oo) and 7.8(rr) of the Credit Agreement
(including contracted acquisitions and other Investments permitted pursuant to such Sections so long as (1) such amounts are contractually committed by the last day of the Company’s fiscal year for which	  			

					
	Excess Cash Flow is being calculated (the “ECF Calculation Year”), (2) such amounts are utilized (and, for the avoidance of doubt, shall not be deducted when used) during the fiscal year immediately following such ECF
Calculation Year and (3) any amounts not utilized during the fiscal year immediately following such ECF Calculation Year shall be included in the calculation of Excess Cash Flow for the fiscal year immediately following such ECF Calculation
Year) and (z) payments in cash made by the Company and its consolidated Subsidiaries with respect to any noncash charges added back pursuant to clause (a)(ii) above in computing Excess Cash Flow for any prior fiscal year	  	$	__________	 
		
	(iv) Consolidated Scheduled Funded Debt Payments (except to the extent financed with Long-Term Indebtedness)	  	$	__________	 
		
	(v) (x) income taxes, including penalties and interest, and (y) payments and other contributions to employee pension benefit, retirement or similar plans, in each case paid in cash during such period	  	$	__________	 
		
	(vi) the aggregate amount of voluntary or mandatory permanent principal payments or mandatory repurchases, in each case, made in cash of (A) any Indebtedness and (B) the principal component of payments in respect of
Capital Lease Obligations (in each case, excluding (x)(i) the Consolidated Scheduled Funded Debt Payments, (ii) Revolving Loans (including Incremental Revolving Loans), (iii) Term Loans, (including Loans under Incremental Term Facilities) and
(iv) Incremental Equivalent Debt, Credit Agreement Refinancing Indebtedness, Refinancing Term Loans, Other Revolving Loans, Ratio Debt, Incurred Acquisition Debt and any other Indebtedness permitted under Section 7.2 of the Credit
Agreement, in each case under this clause (iv), to the extent such debt is secured by a Lien on the Collateral that is pari passu (but without regard to the control of remedies) with the Liens securing the Obligations and (y) any payments or
repurchases of revolving loans to the extent not accompanied by a permanent reduction in the commitments in respect thereof)	  	$	__________	 
		
	(vii) the aggregate amount of any premium, make-whole or penalty payments actually paid in cash during such period that are required to be made in connection with any prepayment or satisfaction and discharge of Indebtedness (except
to the extent financed with Long-Term Indebtedness) to the extent that the amount so prepaid, satisfied or discharged is not deducted from Consolidated Net Income for purposes of calculating Excess Cash Flow	  	$	__________	 
		
	(viii) cash payments made (to the extent not deducted in arriving at Consolidated Net Income) in satisfaction of noncurrent liabilities (excluding payments of Indebtedness for borrowed money) not made directly or indirectly using
proceeds, payments or any other amounts available from events or circumstances that were not included in determining Consolidated Net Income during such period	  	$	__________	 
		
	(ix) to the extent not expensed (or exceeding the amount expensed) during such period or not deducted (or exceeding the amount deducted) in calculating Consolidated Net Income, the aggregate amount of any fee, loss, charge, expense,
cost, accrual or reserve of any kind paid or payable in cash by the Company and its Subsidiaries during such period	  	$	__________	 
		
	(x) cash expenditures in respect of Hedge Agreements during such fiscal year to the extent they exceed the amount of expenditures expensed in determining Consolidated Net Income for such period	  	$	__________	 
		
	(xi) the amount of any payment of cash to be amortized or expensed over a future period and recorded as a long-term asset	  	$	__________	 

					
	(xii) the amount of any tax obligation of the Company and/or any Subsidiary that is estimated in good faith by the Company as due and payable not later than the fiscal year immediately following such fiscal year (but is not
currently due and payable) by the Company and/or any Subsidiary as a result of the repatriation (or deemed repatriation) of any dividend or similar distribution of net income of any Foreign Subsidiary to the Company and/or any Subsidiary; provided
that the amount of any such tax obligation shall be included in the calculation Excess Cash Flow for any subsequent fiscal year during which (A) the Company determines such tax obligation is not payable or (B) such tax obligation is
paid	  	$	__________	 
		
	(xiii) cash expenditures in respect of Hedge Agreements during such fiscal year to the extent they exceed the amount of expenditures expensed in determining Consolidated Net Income for such period	  	$	__________	 
		
	 II. The sum of (b)(i) through (b)(xiii)
	  	$	__________	 
		
	Excess Cash Flow (I minus II)	  	$	__________	 

 EXHIBIT C 

TO THE CREDIT AGREEMENT 
 FORM OF
LEGAL OPINIONS 

 [On file with the Administrative Agent] 

 EXHIBIT D 

TO THE CREDIT AGREEMENT 
 FORM OF

 JOINDER AGREEMENT 
 JOINDER
AGREEMENT, dated as of                 ,         , made by each signatory hereto (each, a “Subsidiary
Borrower”), in favor of JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the several banks and other financial institutions or entities (the “Lenders”)
from time to time parties to the Credit Agreement, dated as of [    ], 2019 (as amended, supplemented, or otherwise modified from time to time, the “Credit Agreement”), among Kontoor Brands, Inc. (the
“Company”), Lee Wrangler International Sagl, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties thereto, the Lenders party thereto and the Administrative Agent. 

W I T N E S S E T H: 
 WHEREAS,
the parties to this Joinder Agreement wish to add Subsidiary Borrowers to the Credit Agreement in the manner hereinafter set forth; and 

WHEREAS, this Joinder Agreement is entered into pursuant to Section 2.29(a)(i) of the Credit Agreement; 

NOW, THEREFORE, in consideration of the premises, the parties hereto hereby agree as follows: 

1. Each of the undersigned Subsidiaries of the Company, hereby acknowledges that it has received and reviewed a copy of the Credit Agreement,
and acknowledges and agrees to: 
  

	 	(a)	 join the Credit Agreement as a Subsidiary Borrower, as indicated with its signature below;

  

	 	(b)	 be bound by all covenants, agreements and acknowledgments attributable to a Subsidiary Borrower that is a
[Domestic][Foreign Subsidiary] Borrower[, as applicable,] in the Credit Agreement; and 

  

	 	(c)	 perform all obligations and duties required of it by the Credit Agreement. 

2. Each of the undersigned Subsidiaries of the Company hereby represents and warrants that the representations and warranties with respect to
it contained in Section 4 of the Credit Agreement and each of the other Loan Documents to which such Subsidiary of the Company is a party or which are contained in any certificate furnished by or on behalf of such Subsidiary of the Company are
true and correct in all material respects (and in all respects if any such representation and warranty is qualified by materiality) on the date hereof (except to the extent any such representation and warranty expressly relates to an earlier date,
in which case it was true and correct in all material respects as of such earlier date). 
 3. The address, taxpayer identification number
and jurisdiction of incorporation of each of the undersigned Subsidiaries of the Company is set forth in Annex I to this Joinder Agreement. 

 4. The Company hereby agrees and acknowledges that its guarantees contained in
Section 2 of the Guarantee Agreement shall remain in full force and effect after giving effect to this Joinder Agreement. 
 5. THIS
JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

 IN WITNESS WHEREOF, each of the undersigned has caused this Joinder Agreement to be duly
executed and delivered by its proper and duly authorized officer as of the date set forth below. 
  

							
		 		 	[NAME OF SUBSIDIARY],
	Dated:                     ,         	 		 	as a Subsidiary Borrower
				
		 		 	By:	 	          

		 		 		 	Name:
		 		 		 	Title:
			
		 		 	[NAME OF SUBSIDIARY],
		 		 	as a Subsidiary Borrower
				
		 		 	By:	 	          

		 		 		 	Name:
		 		 		 	Title:

 ACKNOWLEDGED AND AGREED TO: 

KONTOOR BRANDS, INC. 
  

			
	By:	 	          

		 	Name:
		 	Title:
	
	 JPMORGAN CHASE BANK, N.A.,
 as
Administrative Agent

		
	By:	 	          

		 	Name:
		 	Title:

 ANNEX I 

[Insert address, taxpayer identification number and jurisdiction of incorporation of each Subsidiary Borrower] 

 EXHIBIT E 

TO THE CREDIT AGREEMENT 
 FORM OF

 ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into between the Assignor named below (the “Assignor”) and the Assignee named below (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit
Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and
incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an agreed
consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit
Agreement, as of the Effective Date inserted by the Administrative Agent below (i) all of the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered
pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including any letters of credit,
guarantees, and swingline loans included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any
Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations
sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this
Assignment and Assumption, without representation or warranty by the Assignor. 
  

					
	1.	  	Assignor:	  	                                      
          
			
	2.	  	Assignee:	  	                                      
          
		  		  	[and is a Lender Affiliate of [identify Lender]]
			
	3.	  	Borrowers:	  	Kontoor Brands, Inc., Lee Wrangler International Sagl and any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties thereto
			
	4.	  	Agent:	  	JPMorgan Chase Bank, N.A., as administrative agent under the Credit Agreement

					
			
	5.	  	Credit Agreement:	  	The Credit Agreement, dated as of [    ], 2019, among Kontoor Brands, Inc., Lee Wrangler International Sagl, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties thereto,
the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent
			
	6.	  	Assigned Interest:	  	

  

													
	 Facility
Assigned1
	  	Aggregate Amount of
Commitment/Loans for
all Lenders	 	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage Assigned of
Commitment/Loans2	 
	 1.
	  	$	 	 	  	$	 	 	  	 	%	 
		  	$	 	 	  	$	 	 	  	 	%	 
		  	$	 	 	  	$	 	 	  	 	%	 

 Effective Date:
                    , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF
RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The Assignee agrees to deliver to the Administrative Agent a completed administrative questionnaire in
which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Company and its Affiliates or their respective
securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

 
  

 

	1 	 Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being
assigned under this Assignment (e.g. “Tranche A Term Loan,” “Tranche B Term Loan,” “Revolving Commitment” or “Swingline Commitment”). 

	2 	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders.

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	
	  
 NAME OF
ASSIGNOR

		
	By:	 	          

		 	Title:
	
	ASSIGNEE
	
	  
 NAME OF
ASSIGNEE

		
	By:	 	          

		 	Title:

 Consented to and Accepted:1 

JPMORGAN CHASE BANK, N.A., as Administrative Agent 
  

			
	By:	 	          

		 	Title:
	
	[JPMORGAN CHASE BANK, N.A.], as Issuing Lender
		
	By:	 	          

		 	Title:
	
	[BARCLAYS BANK PLC], as Issuing Lender
		
	By:	 	          

		 	Title:
	
	[BANK OF AMERICA, N.A.], as Issuing Lender
		
	By:	 	          

		 	Title:
	
	[WELLS FARGO BANK, NATIONAL ASSOCIATION], as Issuing Lender
		
	By:	 	          

		 	Title:

  
  

	1 	 To be added only if the consent of the Administrative Agent, Issuing Lender and/or Swingline Lender is required
by the terms of the Credit Agreement. 

			
	[HSBC BANK USA, NATIONAL ASSOCIATION], as Issuing Lender
		
	By:	 	              

		 	Title:
	
	[JPMORGAN CHASE BANK, N.A.]1, as a Swingline Lender
		
	By:	 	              

		 	Title:
	
	Consented to:2
	
	KONTOOR BRANDS, INC.
		
	By	 	              

		 	Title:
	
	LEE WRANGLER INTERNATIONAL SAGL
		
	By	 	              

		 	Title:

  

	1 	 JPMorgan Chase Bank, N.A. (“JPMCB”), in its capacity as the lender of Swingline Loans
denominated in U.S. Dollars, or JPMorgan Chase Bank, N.A., London Branch, an Affiliate of JPMCB, in its capacity as the lender of Swingline Loans denominated in Euros. 

	2 	 Consent of the Borrowers required pursuant to Section 10.6(c) of the Credit Agreement. Add other Subsidiary
Borrowers if applicable. Solely with respect to Term Loans, each Borrower shall be deemed to have consented to the assignment contemplated hereby if it does not object by written notice to the Administrative Agent within ten Business Days after
receipt of written notice thereof. 

 ANNEX 1 

to Assignment and Assumption 
 The Credit
Agreement, dated as of [    ], 2019, among Kontoor Brands, Inc., Lee Wrangler International Sagl, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties thereto, the Lenders party thereto
and JPMorgan Chase Bank, N.A., as Administrative Agent 
 STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of each Borrower, any of
their Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by each Borrower, any of their Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document. 
 1.2 Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the
requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the
Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial
statements delivered pursuant to Section 6.1 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned
Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender and (v) attached to the Assignment and Assumption is any documentation required to be
delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender,
and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents and (ii) it will perform in accordance with their terms all
of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From and
after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the
Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. 

 3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by email or telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and
construed in accordance with, the law of the State of New York. 

 EXHIBIT F 

TO THE CREDIT AGREEMENT 
 [FORM OF]

 U.S. TAX EXEMPTION CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement, dated as of [    ], 2019 (as amended, modified and supplemented from
time to time, the “Credit Agreement”), among Kontoor Brands, Inc. (the “Company”), Lee Wrangler International Sagl any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties
thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.21 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a
ten percent shareholder of any Domestic Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to any Domestic Borrower as described in Section 881(c)(3)(C) of the
Code. 
 The undersigned has furnished the Administrative Agent and the Company with a certificate of its
non-U.S. person status on IRS Form W-8BEN or IRS Form W-8BEN-E. By executing this
certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Administrative Agent, and (2) the undersigned shall have at all times
furnished the Company and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to
them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	
                 

		 	Name:
		 	Title:

 Date:                 
    , 20[    ] 

 [FORM OF] 

U.S. TAX EXEMPTION CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement, dated as of [    ], 2019 (as amended, modified and supplemented from
time to time, the “Credit Agreement”), among Kontoor Brands, Inc. (the “Company”), Lee Wrangler International Sagl, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties
thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.21 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any Domestic
Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to any Domestic Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a certificate of its non-U.S. person
status on IRS Form W-8BEN or IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	
                 

		 	Name:
		 	Title:

 Date:                 
    , 20[    ] 

 [FORM OF] 

U.S. TAX EXEMPTION CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement, dated as of [    ], 2019 (as amended, modified and supplemented from
time to time, the “Credit Agreement”), among Kontoor Brands, Inc. (the “Company”), Lee Wrangler International Sagl, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties
thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.21 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the
undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of any Domestic Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled
foreign corporation related to any Domestic Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished
its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest
exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times
furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	
		 	Name:
		 	Title:

 Date:                 
    , 20[    ] 

 [FORM OF] 

U.S. TAX EXEMPTION CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement, dated as of [    ], 2019 (as amended, modified and supplemented from
time to time, the “Credit Agreement”), among Kontoor Brands, Inc. (the “Company”), Lee Wrangler International Sagl, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties
thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.21 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s)
evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a
loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of any Domestic Borrower
within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to any Domestic Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Company with IRS Form W-8IMY
accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Company and the Administrative Agent with a
properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	
		 	Name:
		 	Title:

 Date:                 
    , 20[    ] 

 EXHIBIT G 

TO THE CREDIT AGREEMENT 
 FORM OF
SOLVENCY CERTIFICATE 
 Date: [    ] 

Reference is made to Credit Agreement, dated as of [    ], 2019 (as amended, modified or supplemented from time to time,
the “Credit Agreement”), among Kontoor Brands, Inc. (the “Company”), Lee Wrangler International Sagl, any other Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties thereto, the banks
and other financial institutions from time to time parties thereto, and JPMorgan Chase Bank, N.A., as administrative agent. 
 Capitalized
terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section 5.1(j) of the Credit Agreement. 

Solely in my capacity as a Responsible Officer of the Company and not individually (and without personal liability), I hereby certify, that as
of the date hereof, after giving pro forma effect to the consummation of the Transactions: 
  

	 	1.	 The amount of the “present fair saleable value” of the assets of the Loan Parties, on a consolidated
basis, will, as of such date, exceed the amount of all “liabilities of such Persons, contingent or otherwise”, as of such date, as such quoted terms are determined in accordance with applicable federal and state laws governing
determinations of the insolvency of debtors. 

  

	 	2.	 The present fair saleable value of the assets of the Loan Parties, on a consolidated basis, will, as of such
date, be greater than the amount that will be required to pay the probable liability of the Loan Parties, on a consolidated basis, on its debts as such debts become absolute and matured. 

 

	 	3.	 The Loan Parties, on a consolidated basis, will not have, as of such date, an unreasonably small amount of
capital with which to conduct their business. 

  

	 	4.	 The Loan Parties, on a consolidated basis, will be able to pay their debts as they mature.

 For purposes of this Certificate, (i) “debt” means liability on a “claim,” (ii) “claim”
means any (x) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (y) right to an equitable
remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured or unsecured and
(iii) the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or
matured liability in the ordinary course of business. 

 IN WITNESS WHEREOF, I have executed this Certificate this as of the date first written
above. 
  

			
	KONTOOR BRANDS, INC.
		
	By:	 	
                 

 EXHIBIT H 

TO THE CREDIT AGREEMENT 
 FORM OF
ADMINISTRATIVE QUESTIONNAIRE 
 [Attached]EX-4.1

 Exhibit 4.1 

INDENTURE 
 NISSAN AUTO
RECEIVABLES 2019-B OWNER TRUST, 
 as Issuer 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Indenture Trustee 

Dated as of May 28, 2019 

  

					
		  		  	(NAROT 2019-B Indenture)

 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

2 
  

							
	 SECTION 1.01
	  	Definitions	  	 	2	 
			
	 SECTION 1.02
	  	Usage of Terms	  	 	2	 
			
	 SECTION 1.03
	  	Incorporation by Reference of Trust Indenture Act	  	 	2	 
		
	ARTICLE II	  			
	THE NOTES
3	  			
			
	 SECTION 2.01
	  	Form	  	 	3	 
			
	 SECTION 2.02
	  	Execution, Authentication and Delivery	  	 	3	 
			
	 SECTION 2.03
	  	Temporary Notes	  	 	4	 
			
	 SECTION 2.04
	  	Registration; Registration of Transfer and Exchange	  	 	4	 
			
	 SECTION 2.05
	  	Mutilated, Destroyed, Lost or Stolen Notes	  	 	6	 
			
	 SECTION 2.06
	  	Persons Deemed Owners	  	 	6	 
			
	 SECTION 2.07
	  	Payments of Principal and Interest	  	 	7	 
			
	 SECTION 2.08
	  	Cancellation	  	 	7	 
			
	 SECTION 2.09
	  	Release of Collateral	  	 	7	 
			
	 SECTION 2.10
	  	Book-Entry Notes	  	 	8	 
			
	 SECTION 2.11
	  	Notices to Clearing Agency	  	 	8	 
			
	 SECTION 2.12
	  	Definitive Notes	  	 	9	 
			
	 SECTION 2.13
	  	Tax Treatment	  	 	10	 
		
	ARTICLE III	  			
	COVENANTS, REPRESENTATIONS AND WARRANTIES
10	  			
			
	 SECTION 3.01
	  	Payment of Principal and Interest	  	 	10	 
			
	 SECTION 3.02
	  	Maintenance of Office or Agency	  	 	11	 
			
	 SECTION 3.03
	  	Money for Payments To Be Held in Trust	  	 	11	 
			
	 SECTION 3.04
	  	Existence	  	 	13	 
			
	 SECTION 3.05
	  	Protection of Owner Trust Estate	  	 	13	 
			
	 SECTION 3.06
	  	Opinions as to Owner Trust Estate	  	 	13	 
			
	 SECTION 3.07
	  	Performance of Obligations; Servicing of Receivables	  	 	14	 
			
	 SECTION 3.08
	  	Negative Covenants	  	 	15	 
			
	 SECTION 3.09
	  	Annual Statement as to Compliance	  	 	16	 

  

					
		  	-i-	  	(NAROT 2019-B Indenture)

							
	 SECTION 3.10
	  	Issuer May Consolidate, etc., Only on Certain Terms	  	 	16	 
			
	 SECTION 3.11
	  	Successor or Transferee	  	 	18	 
			
	 SECTION 3.12
	  	No Other Business	  	 	18	 
			
	 SECTION 3.13
	  	No Borrowing	  	 	18	 
			
	 SECTION 3.14
	  	Guarantees, Loans, Advances and Other Liabilities	  	 	18	 
			
	 SECTION 3.15
	  	Capital Expenditures	  	 	18	 
			
	 SECTION 3.16
	  	Removal of Administrator	  	 	18	 
			
	 SECTION 3.17
	  	Restricted Payments	  	 	19	 
			
	 SECTION 3.18
	  	Notice of Events of Default	  	 	19	 
			
	 SECTION 3.19
	  	Further Instruments and Actions	  	 	19	 
			
	 SECTION 3.20
	  	Representations and Warranties	  	 	19	 
		
	ARTICLE IV	  			
	SATISFACTION AND DISCHARGE
20	  			
			
	 SECTION 4.01
	  	Satisfaction and Discharge of Indenture	  	 	20	 
			
	 SECTION 4.02
	  	Application of Trust Money	  	 	21	 
			
	 SECTION 4.03
	  	Repayment of Moneys Held by Paying Agent	  	 	21	 
		
	ARTICLE V	  			
	REMEDIES
21	  			
			
	 SECTION 5.01
	  	Events of Default	  	 	21	 
			
	 SECTION 5.02
	  	Acceleration of Maturity; Rescission and Annulment	  	 	22	 
			
	 SECTION 5.03
	  	Collection of Indebtedness and Suits for Enforcement by Indenture Trustee	  	 	23	 
			
	 SECTION 5.04
	  	Remedies; Priorities	  	 	25	 
			
	 SECTION 5.05
	  	Optional Preservation of the Collateral	  	 	27	 
			
	 SECTION 5.06
	  	Limitation of Suits	  	 	27	 
			
	 SECTION 5.07
	  	Rights of Noteholders to Receive Principal and Interest	  	 	28	 
			
	 SECTION 5.08
	  	Restoration of Rights and Remedies	  	 	28	 
			
	 SECTION 5.09
	  	Rights and Remedies Cumulative	  	 	28	 
			
	 SECTION 5.10
	  	Delay or Omission Not a Waiver	  	 	28	 
			
	 SECTION 5.11
	  	Control by Noteholders	  	 	28	 
			
	 SECTION 5.12
	  	Waiver of Past Defaults	  	 	29	 
			
	 SECTION 5.13
	  	Undertaking for Costs	  	 	29	 

  

					
		  	-ii-	  	(NAROT 2019-B Indenture)

							
	 SECTION 5.14
	  	Waiver of Stay or Extension Laws	  	 	29	 
			
	 SECTION 5.15
	  	Action on Notes	  	 	30	 
			
	 SECTION 5.16
	  	Performance and Enforcement of Certain Obligations	  	 	30	 
		
	ARTICLE VI	  			
	THE INDENTURE TRUSTEE
30	  			
	 SECTION 6.01
	  	Duties of Indenture Trustee	  	 	30	 
			
	 SECTION 6.02
	  	Rights of Indenture Trustee	  	 	32	 
			
	 SECTION 6.03
	  	Individual Rights of Indenture Trustee	  	 	34	 
			
	 SECTION 6.04
	  	Indenture Trustee’s Disclaimer	  	 	34	 
			
	 SECTION 6.05
	  	Notice of Defaults	  	 	35	 
			
	 SECTION 6.06
	  	Reports by Indenture Trustee to Holders	  	 	35	 
			
	 SECTION 6.07
	  	Compensation and Indemnity	  	 	35	 
			
	 SECTION 6.08
	  	Replacement of Indenture Trustee	  	 	36	 
			
	 SECTION 6.09
	  	Successor Indenture Trustee by Merger	  	 	37	 
			
	 SECTION 6.10
	  	Appointment of Co-Indenture Trustee or Separate Indenture Trustee	  	 	37	 
			
	 SECTION 6.11
	  	Eligibility; Disqualification	  	 	39	 
			
	 SECTION 6.12
	  	Preferential Collection of Claims Against Issuer	  	 	39	 
		
	ARTICLE VII	  			
	NOTEHOLDERS’ LISTS AND REPORTS
39	  			
			
	 SECTION 7.01
	  	Note Registrar To Furnish Names and Addresses of Noteholders	  	 	39	 
			
	 SECTION 7.02
	  	Preservation of Information; Communications to Noteholders	  	 	39	 
			
	 SECTION 7.03
	  	Reports by Issuer	  	 	40	 
			
	 SECTION 7.04
	  	Reports by Indenture Trustee	  	 	40	 
			
	 SECTION 7.05
	  	Indenture Trustee Website	  	 	41	 
			
	 SECTION 7.06
	  	Information to be Provided by the Indenture Trustee	  	 	41	 
			
	 SECTION 7.07
	  	Noteholder Demand for Repurchase; Dispute Resolution	  	 	41	 
			
	 SECTION 7.08
	  	Asset Review Voting	  	 	42	 

  

					
		  	-iii-	  	(NAROT 2019-B Indenture)

							
		
	ARTICLE VIII	  			
	ACCOUNTS, DISBURSEMENTS AND RELEASES
43	  			
			
	 SECTION 8.01
	  	Collection of Money	  	 	43	 
			
	 SECTION 8.02
	  	Accounts	  	 	43	 
			
	 SECTION 8.03
	  	General Provisions Regarding Accounts	  	 	44	 
			
	 SECTION 8.04
	  	Release of Owner Trust Estate	  	 	45	 
			
	 SECTION 8.05
	  	Release of Receivables Upon Purchase by the Seller or the Servicer	  	 	45	 
			
	 SECTION 8.06
	  	Opinion of Counsel	  	 	46	 
		
	ARTICLE IX	  			
	SUPPLEMENTAL INDENTURES
46	  			
			
	 SECTION 9.01
	  	Supplemental Indentures Without Consent of Noteholders	  	 	46	 
			
	 SECTION 9.02
	  	Supplemental Indentures with Consent of Noteholders	  	 	47	 
			
	 SECTION 9.03
	  	Execution of Supplemental Indentures	  	 	48	 
			
	 SECTION 9.04
	  	Effect of Supplemental Indenture	  	 	49	 
			
	 SECTION 9.05
	  	Conformity with Trust Indenture Act	  	 	49	 
			
	 SECTION 9.06
	  	Reference in Notes to Supplemental Indentures	  	 	49	 
		
	ARTICLE X	  			
	REDEMPTION OF NOTES
49	  			
			
	 SECTION 10.01
	  	Optional Purchase of All Receivables	  	 	49	 
			
	 SECTION 10.02
	  	Form of Redemption Notice	  	 	50	 
			
	 SECTION 10.03
	  	Notes Payable on Redemption Date	  	 	50	 
		
	ARTICLE XI	  			
	MISCELLANEOUS
50	  			
			
	 SECTION 11.01
	  	Compliance Certificates and Opinions, etc.	  	 	50	 
			
	 SECTION 11.02
	  	Form of Documents Delivered to Indenture Trustee	  	 	52	 
			
	 SECTION 11.03
	  	Acts of Noteholders	  	 	53	 
			
	 SECTION 11.04
	  	Notices to Indenture Trustee, Issuer and Rating Agencies	  	 	53	 
			
	 SECTION 11.05
	  	Notices to Noteholders; Waiver	  	 	54	 
			
	 SECTION 11.06
	  	Alternate Payment and Notice Provisions	  	 	54	 
			
	 SECTION 11.07
	  	Conflict with Trust Indenture Act	  	 	54	 
			
	 SECTION 11.08
	  	Effect of Headings and Table of Contents	  	 	55	 
			
	 SECTION 11.09
	  	Successors and Assigns	  	 	55	 
			
	 SECTION 11.10
	  	Severability	  	 	55	 
			
	 SECTION 11.11
	  	Benefits of Indenture	  	 	55	 

  

					
		  	-iv-	  	(NAROT 2019-B Indenture)

							
	 SECTION 11.12
	  	Governing Law	  	 	55	 
			
	 SECTION 11.13
	  	Counterparts	  	 	55	 
			
	 SECTION 11.14
	  	Recording of Indenture	  	 	55	 
			
	 SECTION 11.15
	  	Trust Obligation	  	 	55	 
			
	 SECTION 11.16
	  	No Petition	  	 	56	 
			
	 SECTION 11.17
	  	Inspection	  	 	56	 

  

			
		
	 EXHIBIT A
	  	FORM OF CLASS [A-1] [A-2] [A-3] [A-4] NOTE
		
	 EXHIBIT B
	  	FORM OF ASSET REPURCHASE DEMAND ACTIVITY REPORT

  

					
		  	-v-	  	(NAROT 2019-B Indenture)

 CROSS-REFERENCE TABLE 

(not part of this Indenture) 
  

			
	 TIA

Section
	  	 Indenture

Section

	 (§)310(a) (1)
	  	6.11
	 (a) (2)
	  	6.11
	 (a) (3)
	  	6.10(b)(1)
	 (a) (4)
	  	N.A.
	 (a) (5)
	  	6.11
	 (b)
	  	5.04
		  	6.08
		  	6.11
	 (c)
	  	N.A.
	 (§)311(a)
	  	6.12
	 (b)
	  	6.12
	 (c)
	  	N.A.
	 (§)312(a)
	  	7.01
	 (b)
	  	7.01
		  	7.02(b)
	 (c)
	  	7.02(c)
	 (§)313(a)
	  	7.04
	 (b) (1)
	  	N.A.
	 (b) (2)
	  	7.04
	 (c)
	  	7.04
		  	11.04
	 (d)
	  	7.04
	 (§)314(a)
	  	7.03
		  	3.09
		  	11.04
		  	7.04
	 (b)
	  	3.06
		  	11.14
	 (c) (1)
	  	11.01
		  	6.02
		  	8.05(b)
	 (c) (2)
	  	11.01
		  	3.06
		  	3.10
		  	6.02
		  	8.05(b)
		  	8.06
	 (c) (3)
	  	11.01
	 (d)
	  	11.01(c)
	 (e)
	  	11.01

  

					
		  	-vi-	  	(NAROT 2019-B Indenture)

			
	 TIA

Section
	  	 Indenture

Section

	 (f)
	  	N.A.
	 (§)315(a)
	  	6.01
	 (b)
	  	6.05
	 (c)
	  	N.A.
	 (d)
	  	6.01(c)
	 (e)
	  	5.13
	 (§)316(a)(1) (A)
	  	5.11
	 (a) (1) (B)
	  	5.12
	 (a) (2)
	  	N.A.
	 (b)
	  	5.07
		  	9.02
		  	5.13(c),
	 (c)
	  	N.A.
	 (§)317(a) (1)
	  	5.04
	 (a) (2)
	  	5.03(c)
		  	5.03(d)
		  	5.04
	 (b)
	  	3.03
	 (§)318(a)
	  	11.07

  
 N.A. means
not applicable 

  

					
		  	-vii-	  	(NAROT 2019-B Indenture)

 INDENTURE dated as of May 28, 2019 (this “Indenture”), between NISSAN
AUTO RECEIVABLES 2019-B OWNER TRUST, a Delaware statutory trust (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee and not in its individual capacity (the
“Indenture Trustee”). 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable
benefit of the Holders of the Issuer’s 2.49668% Asset Backed Notes, Class A-1 (the “Class A-1 Notes”), 2.56% Asset Backed
Notes, Class A-2 (the “Class A-2 Notes”), 2.50% Asset Backed Notes, Class A-3 (the
“Class A-3 Notes”), 2.54% Asset Backed Notes, Class A-4 (the
“Class A-4 Notes”, and collectively with the Class A-1 Notes, the Class A-2 Notes
and the Class A-3 Notes, the “Notes”): 
 GRANTING CLAUSE 

The Issuer hereby Grants to the Indenture Trustee at the Closing Date, as Indenture Trustee for the benefit of the Holders of the Notes all of
the Issuer’s right, title and interest, whether now owned or hereafter acquired, in and to the following (collectively, the “Collateral”): 

(i) the Receivables (including all related Receivable Files) and all monies due thereon or paid thereunder or in respect thereof after the Cut-off Date; 
 (ii) the Accounts and amounts on deposit in the Accounts; 

(iii) the security interests in the Financed Vehicles granted by the Obligors pursuant to the Receivables and any related property; 

(iv) any proceeds from claims on any physical damage, credit life, credit disability or other insurance policies covering the Financed
Vehicles or the Obligors; 
 (v) payments in respect of any Dealer Recourse with respect to the Receivables; 

(vi) the Sale and Servicing Agreement, the Purchase Agreement and the Assignment; 

(vii) the right of the Issuer to realize upon any property (including the right to receive future Net Liquidation Proceeds) that shall have
secured a Receivable; 
 (viii) rebates of premiums and other amounts relating to insurance policies and other items financed under the
Receivables in effect as of the Cut-off Date; 
 (ix) all other assets comprising the Owner Trust
Estate; and 
 (x) all proceeds of the foregoing. 

The foregoing Grant is made in trust to secure the payment of principal of and interest on, and any other amounts owing in respect of, the
Notes, equally and ratably without prejudice, priority or distinction, and to secure compliance with the provisions of this Indenture, and subject to the subordinate claims thereon of the Holders of the Certificates, all as provided in this
Indenture. 

  

					
		  	1	  	(NAROT 2019-B Indenture)

 The Indenture Trustee, as Indenture Trustee on behalf of the Holders of the Notes,
acknowledges such Grant, accepts the trusts under this Indenture in accordance with the provisions of this Indenture and agrees to perform its duties required in this Indenture to the best of its ability to the end that the interests of the Holders
of the Notes may be adequately and effectively protected. 
 ARTICLE I 

Definitions and Incorporation by Reference 

SECTION 1.01 Definitions. Except as otherwise specified herein or if the context may otherwise require, capitalized terms used but not
otherwise defined herein have the meanings ascribed thereto in the Sale and Servicing Agreement, dated as of the date hereof (the “Sale and Servicing Agreement”), by and among Nissan Auto Receivables Corporation II, as seller,
Nissan Motor Acceptance Corporation, as servicer, the Issuer and the Indenture Trustee. 
 SECTION 1.02 Usage of Terms. With respect
to all terms in this Indenture, the singular includes the plural and the plural the singular; words importing any gender include the other genders; references to “writing” include printing, typing, lithography and other means of
reproducing words in a visible form; references to agreements and other contractual instruments include all subsequent amendments, amendments and restatements and supplements thereto or changes therein entered into in accordance with their
respective terms and not prohibited by this Indenture; references to Persons include their permitted successors and assigns; references to laws include their amendments and supplements, the rules and regulations thereunder and any successors
thereto; and the term “including” means “including without limitation.” 
 SECTION 1.03 Incorporation by Reference of
Trust Indenture Act. Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

“Commission” means the Securities and Exchange Commission. 

“indenture securities” means the Notes. 

“indenture security holder” means a Noteholder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Indenture Trustee. 

“obligor” on the indenture securities means the Issuer and any other obligor on the indenture securities. 

All other TIA terms used in this Indenture that are defined in the TIA, defined in the TIA by reference to another statute or defined by
Commission rule have the meanings so assigned to them. 

  

					
		  	2	  	(NAROT 2019-B Indenture)

 ARTICLE II 

The Notes 
 SECTION 2.01
Form. The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the
Class A-4 Notes, in each case, together with the Indenture Trustee’s certificate of authentication, shall be in substantially the form set forth as Exhibit A, with such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may, consistently herewith, be
determined by the officers executing such Notes, as evidenced by their execution thereof. Any portion of the text of any Note may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Note. 

The Definitive Notes shall be typewritten, printed, lithographed or engraved or produced by any combination of these methods (with or without
steel engraved borders), all as determined by the officers executing such Notes, as evidenced by their execution of such Notes. 
 Each Note
shall be dated the date of its authentication. The terms of the Notes set forth in Exhibit A are part of the terms of this Indenture. 

SECTION 2.02 Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized
Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer,
notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order
authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $268,000,000, the Class A-2 Notes for original issue in an
aggregate principal amount of $438,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $438,000,000, and the Class A-4 Notes
for original issue in an aggregate principal amount of $106,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.05.
The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and any integral multiple of $1,000 in excess thereof; provided that any Retained Notes shall be issued as Definitive Notes and the holder of such Retained Notes
shall be a Note Owner and a Noteholder for all purposes of this Indenture. Each Note shall be dated the date of its authentication. 
 No
Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form included in Exhibit A, as the case may be,
executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and
delivered hereunder. 

  

					
		  	3	  	(NAROT 2019-B Indenture)

 SECTION 2.03 Temporary Notes. Pending the preparation of Definitive Notes, the Issuer
may execute, and upon receipt of an Issuer Order the Indenture Trustee shall authenticate and deliver, temporary Notes that are printed, lithographed, typewritten, mimeographed or otherwise produced, of the tenor of the Definitive Notes in lieu of
which they are issued and with such variations not inconsistent with the terms of this Indenture as the officers executing such Notes may determine, as evidenced by their execution of such Notes. If temporary Notes are issued, the Issuer will cause
Definitive Notes to be prepared without unreasonable delay. After the preparation of Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at the office or agency of the Issuer to be
maintained as provided in Section 3.02, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Notes of any Class, the Issuer shall execute, and the Indenture Trustee shall authenticate
and deliver in exchange therefor, a like principal amount of Definitive Notes of such Class of authorized denominations. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as
Definitive Notes. 
 SECTION 2.04 Registration; Registration of Transfer and Exchange. 

(a) The Note Registrar shall maintain a Note Register in which, subject to such reasonable regulations as it may prescribe, the Note Registrar
shall provide for the registration of Notes and transfers and exchanges of Notes as provided in this Indenture. The Indenture Trustee is hereby initially appointed Note Registrar for the purpose of registering Notes and transfers and exchanges of
Notes as provided in this Indenture. In the event that, subsequent to the Closing Date, the Indenture Trustee notifies the Issuer that it is unable to act as Note Registrar, the Issuer shall appoint another bank or trust company, having an office or
agency located in St. Paul, Minnesota, agreeing to act in accordance with the provisions of this Indenture applicable to it, and otherwise acceptable to the Indenture Trustee, to act as successor Note Registrar under this Indenture. 

If a Person other than the Indenture Trustee is appointed by the Issuer as Note Registrar, the Issuer will give the Indenture Trustee prompt
written notice of the appointment of such Note Registrar and of the location, and any change in the location, of the Note Register, and the Indenture Trustee shall have the right to inspect the Note Register at all reasonable times and to obtain
copies thereof, and the Indenture Trustee shall have the right to rely upon a certificate executed on behalf of the Note Registrar by an Executive Officer thereof as to the names and addresses of the Holders of the Notes and the principal amounts
and number of such Notes. 
 (b) Upon the proper surrender for registration of transfer of any Note at the office or agency of the Issuer to
be maintained as provided in Section 3.02, the Issuer shall execute, and the Indenture Trustee shall authenticate in the name of the designated transferee or transferees, one or more new Notes of the same Class in
authorized denominations of a like aggregate principal amount. 
 (c) At the option of the Holder, Notes may be exchanged for other Notes of
the same Class in any authorized denominations, of a like aggregate principal amount, upon surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so surrendered for exchange, the Issuer shall execute, and the
Indenture Trustee shall authenticate 

  

					
		  	4	  	(NAROT 2019-B Indenture)

 
and the Noteholder shall obtain from the Indenture Trustee, the Notes which the Noteholder making the exchange is entitled to receive. Every Note presented or surrendered for registration of
transfer or exchange shall be accompanied by a written instrument of transfer in form satisfactory to the Indenture Trustee and the Note Registrar duly executed by the Holder thereof or his attorney duly authorized in writing. 

(d) No service charge shall be made for any registration of transfer or exchange of Notes, but the Indenture Trustee may require payment of a
sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of Notes. 
 (e) All
Notes surrendered for registration of transfer or exchange shall be canceled and subsequently destroyed by the Indenture Trustee. 
 (f) By
acquiring a Note (or any interest therein), each Note Owner (and if the Note Owner is any type of employee benefit plan or arrangement, its fiduciary) will be deemed to (i) represent, warrant and covenant that either (A) it is not, and is
not acquiring or holding the Note (or any interest therein) for, on behalf of or with the assets of a Benefit Plan or any other employee benefit plan or arrangement that is subject to Similar Law; or (B) the acquisition, holding and disposition
of the Note (or any interest therein) does not and will not give rise to a non-exempt prohibited transaction under Section 406 of ERISA, Section 4975 of the Code or a violation of any Similar Law and
(ii) acknowledge and agree that the Notes are not eligible for purchase by Benefit Plans or any other employee benefit plan or arrangement that is subject to Similar Law at any time that the ratings on the Notes are below investment grade or
the Notes have been characterized as other than indebtedness for applicable local law purposes. 
 (g) The Retained Notes, if any (or
interests therein), will not be transferred (other than to a Person specified in the definition of Retained Notes) unless a written opinion of counsel, which counsel and opinion shall be acceptable to the Indenture Trustee, is delivered to the
Indenture Trustee to the effect that, for federal income tax purposes, such Notes after such transfer will be treated as debt and, if there are other Notes of the same Class as such transferred Notes which are not Retained Notes prior to such
transfer, for such purposes such Notes will be fungible with such other Notes of the same Class; provided, however, that fungibility need not take into account whether Notes are, or are not, Definitive Notes. 

(h) No Retained Note has been or will be registered under the Securities Act or any other applicable securities or “blue sky” laws
of any state or other jurisdiction, and no Retained Note or any interest therein may be resold, assigned, pledged or otherwise transferred except in compliance with the registration requirements of the Securities Act or any other applicable
Securities or “blue sky” laws, pursuant to an exemption therefrom or in a transaction not subject thereto. 

  

					
		  	5	  	(NAROT 2019-B Indenture)

 (i) Each Retained Note will bear a legend to the following effect: 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION,
AND MAY NOT BE RESOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS, PURSUANT TO AN EXEMPTION THEREFROM OR IN
A TRANSACTION NOT SUBJECT THERETO. 
 SECTION 2.05 Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated Note is
surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be
required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Note Registrar or the Indenture Trustee that such Note has been acquired by a protected purchaser, the Issuer shall execute, and
upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Note, a replacement Note of the same Class. In connection with the issuance of any new Note under this
Section 2.05, the Issuer may require payment by the Holder of such Note of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto. 

If, after the delivery of such replacement Note or payment of a destroyed, lost or stolen Note, a protected purchaser of the original Note in
lieu of which such replacement Note was issued presents for payment such original Note, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Note (or such payment) from the Person to whom it was delivered or any Person
taking such replacement Note from such Person to whom such replacement Note was delivered or any assignee of such Person, except a protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent
of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. 
 Every replacement Note
issued pursuant to this Section 2.05 in replacement of any mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed,
lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Notes of the same Class duly issued hereunder. 

The provisions of this Section 2.05 are exclusive and shall preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 
 SECTION 2.06 Persons Deemed
Owners. Prior to due presentment for registration of transfer of any Note, the Issuer, the Indenture Trustee and any agent of the Issuer or the Indenture Trustee may treat the Person in whose name any Note is registered (as of the day of
determination) as the owner of such Note for the purpose of receiving payments of principal of and interest, if any, on such Note and for all other purposes whatsoever, and none of the Issuer, the Indenture Trustee or any agent of the Issuer or the
Indenture Trustee shall be affected by notice to the contrary. 

  

					
		  	6	  	(NAROT 2019-B Indenture)

 SECTION 2.07 Payments of Principal and Interest. 

(a) The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes shall accrue interest during each Interest Period at the Class A-1 Interest
Rate, the Class A-2 Interest Rate, the Class A-3 Interest Rate and the Class A-4 Interest Rate, respectively, and
such interest shall be payable on each related Distribution Date as specified in the applicable Note by applying amounts available pursuant to Section 5.06 of the Sale and Servicing Agreement and Section 3.01 of this
Indenture. Any installment of interest or principal payable on any Note that is punctually paid or duly provided for by the Issuer on the applicable Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor
Notes) is registered on the Record Date by wire transfer in immediately available funds to the account designated by such nominee, except for the final installment of principal payable with respect to such Note on a Distribution Date or on the
applicable Final Scheduled Distribution Date, which shall be payable as provided below. 
 (b) The principal of each Note shall be payable
in installments on each Distribution Date by applying amounts available pursuant to Section 5.06 of the Sale and Servicing Agreement. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable, if
not previously paid, on the earlier of (i) from and after the date on which the Notes have been declared to be immediately due and payable in the manner provided in Section 5.02 in connection with an Event of Default
and (ii) with respect to any Class of Notes, on the Final Scheduled Payment Date or the Redemption Date for that Class. All principal payments on each Class of Notes shall be made pro rata to the Noteholders of such
Class entitled thereto. The Indenture Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Distribution Date on which the final installment of principal of and interest on
such Note will be paid. Such notice shall be mailed or transmitted by facsimile not less than 10 nor more than 30 days prior to such final Distribution Date, shall specify that such final installment will be payable only upon presentation and
surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. 

SECTION 2.08 Cancellation. All Notes surrendered for payment, registration of transfer or exchange shall, if surrendered to any Person
other than the Indenture Trustee, be delivered to the Indenture Trustee and shall be promptly canceled by the Indenture Trustee. The Issuer may at any time deliver to the Indenture Trustee for cancellation any Notes previously authenticated and
delivered hereunder which the Issuer may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly canceled by the Indenture Trustee. No Notes shall be authenticated in lieu of or in exchange for any Notes canceled as
provided in this Section, except as expressly permitted by this Indenture. All canceled Notes may be held or disposed of by the Indenture Trustee in accordance with its standard retention or disposal policy as in effect at the time unless the Issuer
shall direct by an Issuer Order that they be destroyed or returned to it; provided, that such Issuer Order is timely and the Notes have not been previously disposed of by the Indenture Trustee. 

SECTION 2.09 Release of Collateral. Subject to Sections 8.05 and 11.01 and the terms of the Basic Documents, the
Indenture Trustee shall release property from the lien of this Indenture only upon receipt of an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(l) or an Opinion of
Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates. 

  

					
		  	7	  	(NAROT 2019-B Indenture)

 SECTION 2.10 Book-Entry Notes. The Notes (other than any Retained Notes), upon
original issuance, will be issued in the form of typewritten Notes representing the Book-Entry Notes, to be delivered to The Depository Trust Company, the initial Clearing Agency, or a custodian therefor, by, or on behalf of, the Issuer. The
Book-Entry Notes shall be registered initially on the Note Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Note Owner thereof will receive a Definitive Note representing such Note Owner’s interest
in such Note (other than in the case of any Retained Notes), except as provided in Section 2.12. Except for any Retained Notes, and, otherwise, unless and until definitive, fully registered Notes (the “Definitive
Notes”) have been issued to such Note Owners pursuant to Section 2.12: 
 (a) the provisions of this Section
shall be in full force and effect; 
 (b) the Note Registrar and the Indenture Trustee shall be entitled to deal with the Clearing Agency
for all purposes of this Indenture (including the payment of principal of and interest on the Notes and the giving of instructions or directions hereunder) as the authorized representative of the Note Owners; 

(c) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section
shall control; 
 (d) the rights of Note Owners shall be exercised only through the Clearing Agency and shall be limited to those
established by law and agreements between such Note Owners and the Clearing Agency and/or the Clearing Agency Participants pursuant to the Note Depository Agreement. Unless and until Definitive Notes are issued pursuant to
Section 2.12, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and interest on the Notes to such Clearing Agency
Participants; and 
 (e) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of
Notes evidencing a specified percentage of the Outstanding Amount of the Notes or of the Notes of any Class, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from
Note Owners and/or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Notes and has delivered such instructions to the Indenture Trustee. 

SECTION 2.11 Notices to Clearing Agency. Whenever a notice or other communication to the Noteholders is required under this Indenture,
unless and until Definitive Notes shall have been issued to such Note Owners pursuant to Section 2.12, and except with respect to notices and communications to any Holders of Retained Notes, the Indenture Trustee shall give
all such notices and communications specified herein to be given to Holders of the Notes to the Clearing Agency and shall be deemed to have been given as of the date of delivery to the Clearing Agency. 

  

					
		  	8	  	(NAROT 2019-B Indenture)

 SECTION 2.12 Definitive Notes. Except for any Retained Notes (which shall be
originally issued as Definitive Notes), if (i) the Seller, the Owner Trustee or the Administrator advises the Indenture Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with
respect to the Book-Entry Notes and the Seller, the Owner Trustee or the Administrator are unable to locate a qualified successor (and if the Administrator has made such determination, the Administrator has given written notice thereof to the
Indenture Trustee), (ii) the Seller, the Indenture Trustee or the Administrator, at its option and to the extent permitted by law, advises each other such party in writing that it elects to terminate the book-entry system through the Clearing
Agency, or (iii) after the occurrence of an Event of Default or a Servicer Default, Note Owners representing beneficial interests aggregating a majority of the Outstanding Amount of the Notes of all Classes advise the Indenture Trustee and the
Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency or a successor thereto is no longer in the best interests of the Note Owners acting together as a single Class, then the Clearing Agency shall notify
all Note Owners and the Indenture Trustee of the occurrence of such event and of the availability of Definitive Notes to Note Owners requesting the same. Upon surrender to the Indenture Trustee of the typewritten Notes representing the Book-Entry
Notes by the Clearing Agency, accompanied by registration instructions, the Issuer shall execute and the Indenture Trustee shall authenticate the Definitive Notes in accordance with the instructions of the Clearing Agency. None of the Issuer, the
Note Registrar or the Indenture Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Notes, the Indenture
Trustee shall recognize the Holders of the Definitive Notes as Noteholders. The Indenture Trustee, Issuer and Administrator shall not be liable for any inability to locate a qualified successor Clearing Agency. From and after the date of issuance of
Definitive Notes, all notices to be given to Noteholders will be mailed thereto at their addresses of record in the Note Register as of the relevant Record Date. Such notices will be deemed to have been given as of the date of mailing. Interest and
principal payments on the Definitive Notes on each Distribution Date will be made to the holders in whose names the related Definitive Notes, as applicable, were registered at the close of business on the related Record Date. Payments will be made
by check mailed to the address of such holders as they appear on the Note Register, except that a Noteholder having original denominations aggregating at least $1 million may request payment by wire transfer of funds pursuant to written
instructions delivered to the Indenture Trustee at least five Business Days prior to the Distribution Date. The final payment on any Definitive Notes will be made only upon presentation and surrender of the Definitive Notes at the office or agency
specified in the notice of final payment to Noteholders. From and after the Closing Date, the Holder of a Definitive Note (other than any Retained Note) and the Issuer may elect for such Note to be issued in the form of a Book-Entry Note provided
the Clearing Agency is then willing and able to discharge its responsibilities with respect to the Book Entry Notes. In connection with such election, the Issuer and the Indenture Trustee shall upon Issuer Order execute, authenticate and deliver the
Book-Entry Note and documents related thereto in accordance with the terms hereof and the Issuer Order. 

  

					
		  	9	  	(NAROT 2019-B Indenture)

 SECTION 2.13 Tax Treatment. 

(a) The Issuer has entered into this Indenture, and the Notes (other than the Retained Notes, if any) will be issued, with the intention that,
for federal, state and local income, single business and franchise tax purposes, the Notes will qualify as indebtedness secured by the Owner Trust Estate. The Issuer, by entering into this Indenture, and each Noteholder, by its acceptance of a Note
(and each Note Owner by its acceptance of an interest in the applicable Book-Entry Note), agree to treat the Notes (other than the Retained Notes, if any) for federal, state and local income, single business and franchise tax purposes as
indebtedness secured by the Owner Trust Estate. 
 (b) Each Note Owner and Noteholder, by the purchase of such Note or its acceptance of a
beneficial interest therein, acknowledges that interest on the Notes will be treated as United States source interest, and, as such, United States withholding tax may apply. Each such Note Owner and each Noteholder further agrees, upon request,
to provide any certifications that may be required under applicable law, regulations or procedures to evidence such status and understands that if it ceases to satisfy the foregoing requirements or provide requested documentation, payments to it
under the Notes may be subject to United States withholding tax (without any corresponding gross-up). Without limiting the foregoing, such recipient shall deliver to the Issuer, with a copy to the Indenture
Trustee, at the time or times prescribed by the Code and at such time or times reasonably requested by the Issuer or the Indenture Trustee, such documentation prescribed by the Code (including as prescribed by Code Section 1471(b)(3)(C)(i)) and
such additional documentation reasonably requested by the Issuer or the Indenture Trustee to comply with their respective obligations under FATCA, to determine that such recipient has complied with such recipient’s obligations under FATCA, or
to determine the amount to deduct and withhold from such payment. 
 (c) Notwithstanding the foregoing, to the extent the Issuer is treated
as a partnership for federal, state or local income or franchise purposes and a Noteholder (or Note Owner, as applicable) is treated as a partner in such partnership, the Noteholders (and Note Owners, as applicable) agree that any tax, penalty,
interest or other obligation imposed under the Internal Revenue Code with respect to the income tax items arising from such partnership shall be the sole obligation of the Noteholder (or Note Owner, as applicable) to whom such items are allocated
and not of such partnership. 
 ARTICLE III 

Covenants, Representations and Warranties 

SECTION 3.01 Payment of Principal and Interest. In accordance with the terms of this Indenture, the Issuer will duly and punctually
(i) pay the principal of and interest, if any, on the Notes in accordance with the terms of the Notes and this Indenture and (ii) cause the Servicer to direct the Indenture Trustee to release from the Collection Account all other amounts
distributable or payable in accordance with the Sale and Servicing Agreement. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest and/or principal shall be considered as having been paid by the Issuer
to such Noteholder for all purposes of this Indenture. 

  

					
		  	10	  	(NAROT 2019-B Indenture)

 SECTION 3.02 Maintenance of Office or Agency. The Issuer will maintain in St. Paul,
Minnesota, an office or agency where Notes may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served. The Issuer hereby initially
appoints the Indenture Trustee to serve as its agent for the foregoing purposes. The Issuer will give prompt written notice to the Indenture Trustee of the location, and of any change in the location, of any such office or agency. If at any time the
Issuer shall fail to maintain any such office or agency or shall fail to furnish the Indenture Trustee with the address thereof, such surrenders, notices and demands may be made or served at the Corporate Trust Office, and the Issuer hereby appoints
the Indenture Trustee as its agent to receive all such surrenders, notices and demands. 
 SECTION 3.03 Money for Payments To Be Held in
Trust. As provided in Sections 8.02 and 8.03, all payments of amounts due and payable with respect to any Notes that are to be made from amounts withdrawn from the Collection Account, the Reserve Account, pursuant to Sections
8.02 and 8.03 shall be made on behalf of the Issuer by the Indenture Trustee or by the Paying Agent, and no amounts so withdrawn from such accounts for payments of Notes shall be paid over to the Issuer, the Owner Trustee or the
Administrator except as provided in this Section 3.03. 
 On or before each Distribution Date, the Issuer shall
deposit in the Collection Account or, in accordance with the Sale and Servicing Agreement, cause to be deposited (including the provision of instructions to the Indenture Trustee to make any required withdrawals from the Reserve Account, and to
deposit such amounts in the Collection Account) an aggregate sum sufficient to pay the amounts then becoming due under the Notes and the Certificates, such sum to be held in trust for the benefit of the Persons entitled thereto, and (unless the
Paying Agent is the Indenture Trustee) shall promptly notify the Indenture Trustee of its action or failure so to act. 
 The Indenture
Trustee, as Paying Agent, hereby agrees with the Issuer that it will, and the Issuer will cause each Paying Agent other than the Indenture Trustee, as a condition to its acceptance of its appointment as Paying Agent, to execute and deliver to the
Indenture Trustee an instrument in which such Paying Agent shall agree with the Indenture Trustee, subject to the provisions of this Section 3.03, that such Paying Agent will: 

(a) hold all sums held by it for the payment of amounts due with respect to the Notes or for release to the Issuer for payment on the
Certificates in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided and pay or release such sums to such Persons as herein provided; 

(b) give the Indenture Trustee notice of any default by the Issuer (or any other obligor upon the Notes) of which it has actual knowledge in
the making of any payment required to be made with respect to the Notes or the release of any amounts to the Issuer to be paid to the Certificateholders; 

(c) at any time during the continuance of any such default, upon the written request of the Indenture Trustee, forthwith pay to the Indenture
Trustee all sums so held in trust by such Paying Agent; 

  

					
		  	11	  	(NAROT 2019-B Indenture)

 (d) immediately resign as a Paying Agent and forthwith pay to the Indenture Trustee all sums
held by it in trust for the payment of Notes (or for release to the Issuer) if at any time it ceases to meet the standards required to be met by a Paying Agent at the time of its appointment; 

(e) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Notes or Certificates (or
assisting the Issuer to withhold from payment to the Certificateholders) of any applicable withholding taxes imposed thereon, including FATCA Withholding Tax (including obtaining and retaining from Persons entitled to payments with respect to the
Notes any Tax Information and making any withholdings with respect to the Notes as required by the Code (including FATCA) and paying over such withheld amounts to the appropriate governmental authority); and 

(f) comply with any applicable reporting requirements in connection with any payments made by it on any Notes and any withholding of taxes
therefrom, and, upon request, provide any Tax Information to the Issuer. 
 The Issuer may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, by Issuer Order direct any Paying Agent to pay to the Indenture Trustee all sums held in trust by such Paying Agent, such sums to be held by the Indenture Trustee upon the same
trusts as those upon which the sums were held by such Paying Agent; and upon such payment by any Paying Agent to the Indenture Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Subject to applicable laws with respect to escheat of funds, any money held by the Indenture Trustee or any Paying Agent in trust for the
payment of any amount due with respect to any Note and remaining unclaimed after such amount has become due and payable and after the Indenture Trustee has taken the steps described in this paragraph shall be discharged from such trust and be paid
to Second Harvest Food Bank of Tennessee upon presentation thereto of an Issuer Request; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof, and all liability of the Indenture
Trustee or such Paying Agent with respect to such trust money shall thereupon cease. In the event that any Noteholder shall not surrender its Notes for retirement within six months after the date specified in the written notice of final payment
described in Section 2.07, the Indenture Trustee will give a second written notice to the registered Noteholders that have not surrendered their Notes for final payment and retirement. If within one year after such second
notice any Notes have not been surrendered, the Indenture Trustee shall, at the expense and direction of the Issuer, cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of
general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then
remaining will be paid to Second Harvest Food Bank of Middle Tennessee. The Indenture Trustee shall also adopt and employ, at the expense and direction of the Issuer, any other reasonable means of notification of such repayment specified by the
Issuer or the Administrator. 

  

					
		  	12	  	(NAROT 2019-B Indenture)

 SECTION 3.04 Existence. The Issuer will keep in full effect its existence, rights and
franchises as a statutory trust under the laws of the State of Delaware (unless it becomes, or any successor Issuer hereunder is or becomes, organized under the laws of any other State or of the United States of America, in which case the Issuer
will keep in full effect its existence, rights and franchises under the laws of such other jurisdiction) and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to
protect the validity and enforceability of this Indenture, the Notes, the Collateral and each other instrument or agreement included in the Owner Trust Estate. 

SECTION 3.05 Protection of Owner Trust Estate. The Issuer will from time to time execute and deliver all such supplements and
amendments hereto and all such financing statements, continuation statements, instruments of further assurance and other instruments, and will take such other action necessary or advisable to: 

(a) maintain or preserve the lien and security interest (and the priority thereof) of this Indenture or carry out more effectively the purposes
hereof; 
 (b) perfect, publish notice of or protect the validity of any Grant made or to be made by this Indenture; 

(c) enforce any of the Collateral; or 

(d) preserve and defend title to the Owner Trust Estate and the rights of the Indenture Trustee and the Noteholders in such Owner Trust Estate
against the claims of all persons and parties. 
 The Issuer hereby designates the Indenture Trustee its agent and attorney-in-fact to authorize, file and/or execute any financing statement, continuation statement or other instrument required to be executed and/or filed pursuant to this
Section 3.05. 
 SECTION 3.06 Opinions as to Owner Trust Estate. 

(a) On the Closing Date, the Issuer shall furnish or cause to be furnished to the Indenture Trustee an Opinion of Counsel either stating that,
in the opinion of such counsel, such action has been taken with respect to the execution, recording and filing of this Indenture, any indentures supplemental hereto, any requisite financing statements and continuation statements and any other
requisite documents necessary to perfect and make effective the lien and security interest of this Indenture or stating that, in the opinion of such counsel, no such action is necessary to make such lien and security interest effective. 

(b) The Issuer shall furnish or cause to be furnished to the Indenture Trustee an Opinion of Counsel, dated as of a date within 90 days after
the beginning of each fiscal year of the Issuer, beginning in 2020, either stating that, in the opinion of such counsel, such action has been taken with respect to the execution, recording, filing or
re-recording and refiling of this Indenture, any indentures supplemental hereto, any financing statements and continuation statements and any other requisite documents necessary to maintain the lien and
security interest created by this Indenture or stating that in the opinion of such counsel no such action is necessary to maintain such lien and security interest. Such Opinion of Counsel shall also describe the execution, recording, filing or re-recording and refiling of this Indenture, any indentures supplemental hereto, any financing statements and continuation statements and any other documents that will, in the opinion of such counsel, be required to
maintain the lien and security interest of this Indenture until the date in the following calendar year on which such Opinion of Counsel must again be delivered. 

  

					
		  	13	  	(NAROT 2019-B Indenture)

 SECTION 3.07 Performance of Obligations; Servicing of Receivables. 

(a) The Issuer will not take any action and will use its best efforts not to permit any action to be taken by others that would release any
Person from any of such Person’s material covenants or obligations under any instrument or agreement included in the Owner Trust Estate or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair
the validity or effectiveness of, any such instrument or agreement, except as expressly provided in the Basic Documents. 
 (b) The Issuer
may contract with other Persons to assist it in performing its duties under this Indenture, and any performance of such duties by a Person identified to the Indenture Trustee in an Officer’s Certificate of the Issuer shall be deemed to be
action taken by the Issuer. Initially, the Issuer has contracted with the Servicer and the Administrator to assist the Issuer in performing its duties under this Indenture. 

(c) The Issuer will punctually perform and observe all of its obligations and agreements contained in the Basic Documents and in the
instruments and agreements included in the Owner Trust Estate, including but not limited to filing or causing to be filed all UCC financing statements and continuation statements required to be filed by the terms of the Trust Agreement, this
Indenture and the Sale and Servicing Agreement in accordance with and within the time periods provided for herein and therein. 
 (d) As
promptly as possible after the giving of notice of termination to the Servicer of the Servicer’s rights and powers pursuant to Section 8.01 of the Sale and Servicing Agreement, the Indenture Trustee shall appoint a successor servicer (the
“Successor Servicer”), and such Successor Servicer shall accept its appointment by a written assumption in a form acceptable to the Indenture Trustee. In the event that a Successor Servicer has not been appointed and accepted its
appointment as set forth in Section 8.02 of the Sale and Servicing Agreement, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer and shall thereafter be entitled to the Total Servicing Fee.
Notwithstanding the above, the Indenture Trustee shall, if it shall be unwilling or legally unable so to act, appoint or petition a court of competent jurisdiction to appoint, and the predecessor Servicer, if no successor Servicer has been appointed
at the time the predecessor Servicer has ceased to act, may petition a court of competent jurisdiction to appoint, any established institution having a net worth of not less than $100,000,000 and whose regular business shall include the servicing of
automobile and/or light-duty truck receivables, as the successor to the Servicer under the Sale and Servicing Agreement. Upon such appointment, the Indenture Trustee will be released from the duties and obligations of acting as Successor Servicer,
such release effective upon the effective date of the servicing agreement entered into between the Successor Servicer and the Issuer. 

  

					
		  	14	  	(NAROT 2019-B Indenture)

 In connection with any such appointment, the Indenture Trustee may make such arrangements
for the compensation of such successor as it and such Successor Servicer shall agree, subject to the limitations set forth below and in the Sale and Servicing Agreement, and in accordance with Section 8.02 of the Sale and Servicing Agreement,
the Issuer shall enter into an agreement with such Successor Servicer for the servicing of the Receivables (such agreement to be in form and substance satisfactory to the Indenture Trustee). If the Indenture Trustee shall succeed to the
Servicer’s duties, it shall not be liable for its failure to perform such duties if such failure is a result of the Servicer’s failure to deliver all documents and data required for servicing of the Receivables. If the Indenture Trustee
shall succeed to the Servicer’s duties as servicer of the Receivables as provided herein, it shall do so in its individual capacity and not in its capacity as Indenture Trustee and, accordingly, the provisions of Article VI hereof shall be
inapplicable to the Indenture Trustee in its duties as Successor Servicer and the servicing of the Receivables. In case the Indenture Trustee shall become the Successor Servicer, the Indenture Trustee shall be entitled to appoint as a subservicer
any one of its Affiliates, provided that the Indenture Trustee, in its capacity as Successor Servicer, shall remain fully liable for the actions and omissions of such Affiliate. 

(e) Upon any termination of the Servicer’s rights and powers pursuant to the Sale and Servicing Agreement, the Issuer shall promptly
notify the Indenture Trustee and the Owner Trustee. As soon as a Successor Servicer is appointed, the Issuer shall notify the Indenture Trustee and the Owner Trustee of such appointment, specifying in such notice the name and address of such
Successor Servicer. 
 SECTION 3.08 Negative Covenants. So long as any Notes are Outstanding, the Issuer shall not: 

(a) except as expressly permitted by Basic Documents, sell, transfer, exchange or otherwise dispose of any of the properties or assets of the
Issuer, including those included in the Owner Trust Estate, unless directed to do so by the Indenture Trustee; 
 (b) claim any credit on,
or make any deduction from the principal or interest payable in respect of, the Notes (other than amounts properly withheld from such payments under the Code or applicable state law) or assert any claim against any present or former Noteholder by
reason of the payment of the taxes levied or assessed upon any part of the Owner Trust Estate; 
 (c) except as may be expressly permitted
hereby, (A) permit the validity or effectiveness of this Indenture to be impaired, or permit the lien of this Indenture to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants
or obligations with respect to the Notes under this Indenture, (B) permit any lien, charge, excise, claim, security interest, mortgage or other encumbrance (other than the lien of this Indenture) to be created on or extend to or otherwise arise
upon or burden the Owner Trust Estate or any part thereof or any interest therein or the proceeds thereof (other than tax liens, mechanics’ liens and other liens that arise by operation of law, in each case on any of the Financed Vehicles and
arising solely as a result of an action or omission of the related Obligor), (C) permit the lien of this Indenture not to constitute a valid first priority (other than with respect to any such tax, mechanics’ or other lien) security interest in
the Owner Trust Estate, or (D) dissolve or liquidate in whole or in part; or 

  

					
		  	15	  	(NAROT 2019-B Indenture)

 (d) assume or incur any indebtedness other than the Notes or as expressly contemplated by
this Indenture or by the Basic Documents. 
 SECTION 3.09 Annual Statement as to Compliance. The Issuer will cause the Servicer to
deliver to the Indenture Trustee concurrently with its delivery thereof to the Issuer the annual statement of compliance described in Section 4.10 of the Sale and Servicing Agreement. In addition, on the same date annually upon which such
annual statement of compliance is to be delivered by the Servicer, the Issuer shall deliver to the Indenture Trustee an Officer’s Certificate, 

(a) stating, as to the Authorized Officer signing such Officer’s Certificate, that a review of the activities of the Issuer during such
year and of its performance under this Indenture has been made under such Authorized Officer’s supervision; and 
 (b) furnishing, to
the extent of the Authorized Officer’s knowledge, information regarding the Issuer’s compliance with all conditions and covenants under this Indenture throughout such year in all material respects. 

SECTION 3.10 Issuer May Consolidate, etc., Only on Certain Terms. 

(a) The Issuer shall not consolidate or merge with or into any other Person, unless: 

(1) the Person (if other than the Issuer) formed by or surviving such consolidation or merger shall be a Person organized and existing under
the laws of the United States of America or any State or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Indenture Trustee, in form satisfactory to the Indenture Trustee, the
duty to make due and punctual payment of the principal of and interest on all Notes and the performance or observance of every agreement and covenant of this Indenture on the part of the Issuer to be performed or observed, all as provided herein;

 (2) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; 

(3) the Rating Agency Condition shall have been satisfied with respect to such transaction; 

(4) the Issuer shall have received an Opinion of Counsel (and shall have delivered copies thereof to the Indenture Trustee) to the effect
that such transaction will not have any material adverse tax consequence to the Issuer, any Noteholder or any Certificateholder; 
 (5) any
action that is necessary to maintain each lien and security interest created by the Trust Agreement, the Sale and Servicing Agreement or this Indenture shall have been taken; and 

  

					
		  	16	  	(NAROT 2019-B Indenture)

 (6) the Issuer shall have delivered to the Indenture Trustee an Officer’s Certificate
and an Opinion of Counsel each stating that such consolidation or merger and any related supplemental indenture complies with this Article III and that all conditions precedent provided in this Indenture relating to such transaction have been
complied with (including any filing required by the Exchange Act). 
 (b) The Issuer shall not convey or transfer any of its properties or
assets, including those included in the Owner Trust Estate, to any Person, unless: 
 (1) the Person that acquires by conveyance or transfer
such properties and assets of the Issuer shall (A) be a United States citizen or a Person organized and existing under the laws of the United States of America or any state or the District of Columbia, (B) expressly assume, by an indenture
supplemental hereto, executed and delivered to the Indenture Trustee, in form satisfactory to the Indenture Trustee, the duty to make due and punctual payment of the principal of and interest on all Notes and the performance or observance of every
agreement and covenant of this Indenture on the part of the Issuer to be performed or observed, all as provided herein, (C) expressly agrees by means of such supplemental indenture that all right, title and interest so conveyed or transferred
shall be subject and subordinate to the rights of Holders of the Notes, (D) unless otherwise provided in such supplemental indenture, expressly agrees to indemnify, defend and hold harmless the Issuer, the Owner Trustee and the Indenture
Trustee against and from any loss, liability or expense arising under or related to this Indenture and the Notes, and (E) expressly agrees by means of such supplemental indenture that such Person (or if a group of Persons, then one specified
Person) shall make all filings that counsel satisfactory to such purchaser or transferee and the Indenture Trustee determines must be made with (1) the Commission (and any other appropriate Person) required by the Exchange Act or the
appropriate authorities in any state in which the Notes have been sold pursuant to any qualification or exemption under the securities or “blue sky” laws of such state, in connection with the Notes or (2) the Internal Revenue Service
or the relevant state or local taxing authorities of any jurisdiction; 
 (2) immediately after giving effect to such transaction, no
Default or Event of Default shall have occurred and be continuing; 
 (3) the Rating Agency Condition shall have been satisfied with
respect to such transaction; 
 (4) the Issuer shall have received an Opinion of Counsel (and shall have delivered copies thereof to the
Indenture Trustee) to the effect that such transaction will not have any material adverse tax consequence to the Issuer, any Noteholder or any Certificateholder; 

(5) any action that is necessary to maintain each lien and security interest created by the Trust Agreement, the Sale and Servicing Agreement
or this Indenture shall have been taken; and 
 (6) the Issuer shall have delivered to the Indenture Trustee an Officer’s Certificate
and an Opinion of Counsel each stating that such conveyance or transfer and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for relating to such transaction have been complied with
(including any filing required by the Exchange Act). 

  

					
		  	17	  	(NAROT 2019-B Indenture)

 SECTION 3.11 Successor or Transferee. 

(a) Upon any consolidation or merger of the Issuer in accordance with Section 3.10(a), the Person formed by or
surviving such consolidation or merger (if other than the Issuer) shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such Person had been named as the
Issuer herein. 
 (b) Upon a conveyance or transfer of all the assets and properties of the Issuer pursuant to
Section 3.10(b), Nissan Auto Receivables 2019-B Owner Trust will be released from every covenant and agreement of this Indenture to be observed or performed on the part of the Issuer
with respect to the Notes and the Certificates immediately upon the delivery of written notice to the Indenture Trustee stating that Nissan Auto Receivables 2019-B Owner Trust is to be so released. 

SECTION 3.12 No Other Business. Unless and until the Issuer shall have been released from its duties and obligations hereunder, the
Issuer shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables and other property comprising the Owner Trust Estate in the manner contemplated by the Basic Documents and activities incidental
thereto. 
 SECTION 3.13 No Borrowing. Unless and until the Issuer shall have been released from its duties and obligations
hereunder, the Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any indebtedness except for the Notes or other obligations permitted hereunder (including the obligation to reimburse certain
expenses of the Servicer) or under another Basic Document (including indemnification expenses of the Issuer and certain fees and expenses of the Administrator). 

SECTION 3.14 Guarantees, Loans, Advances and Other Liabilities. Unless and until the Issuer shall have been released from its duties
and obligations hereunder, except as contemplated by the Sale and Servicing Agreement, this Indenture, or the other Basic Documents, the Issuer shall not make any loan or advance or credit to, or guarantee (directly or indirectly or by an instrument
having the effect of assuring another’s payment or performance on any obligation or capability of so doing or otherwise), endorse or otherwise become contingently liable, directly or indirectly, in connection with the obligations, stocks or
dividends of, or own, purchase, repurchase or acquire (or agree contingently to do so) any stock, obligations, assets or securities of, or any other interest in, or make any capital contribution to, any other Person. 

SECTION 3.15 Capital Expenditures. Unless and until the Issuer shall have been released from its duties and obligations hereunder, the
Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty). 

SECTION 3.16 Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without
cause unless the Rating Agency Condition shall have been satisfied in connection therewith. 

  

					
		  	18	  	(NAROT 2019-B Indenture)

 SECTION 3.17 Restricted Payments. The Issuer will not, directly or indirectly, make
payments to or distributions from the Collection Account except in accordance with the Basic Documents. 
 SECTION 3.18 Notice of Events
of Default. The Issuer shall give the Indenture Trustee, the Owner Trustee, and the Administrator (and the Administrator will provide notice thereof to each Rating Agency) prompt written notice of each Event of Default hereunder, each Servicer
Default and each default on the part of the Seller of its obligations under the Sale and Servicing Agreement and NMAC of its obligations under the Purchase Agreement. 

The Indenture Trustee shall notify each Noteholder of record in writing of any Event of Default promptly upon an Authorized Officer obtaining
actual knowledge thereof. Such notices will be provided in accordance with Section 2.11. 
 SECTION 3.19
Further Instruments and Actions. Upon request of the Indenture Trustee, the Issuer will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose
of this Indenture. 
 SECTION 3.20 Representations and Warranties. The Issuer makes the following representations and warranties.
Such representations and warranties speak as of the Closing Date, but shall survive the Closing Date. Notwithstanding anything to the contrary, the Indenture Trustee shall not waive any breach of representations or warranties in this
Section 3.20 without the written consent of at least a majority of the Outstanding Amount of the Notes, voting as a single class. 

(a) This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Collateral in favor of the
Indenture Trustee (to the extent such security interest can be perfected by the filing of a financing statement), which security interest is prior to all other Liens, and is enforceable as such as against creditors of any purchasers from the Issuer.

 (b) The Issuer has taken all steps necessary to perfect its security interest against the Obligor in the property securing the
Receivables. 
 (c) The Receivables constitute “tangible chattel paper” or “electronic chattel paper” within the meaning
of the applicable UCC. 
 (d) The Issuer owns and has good and marketable title to the Collateral free and clear of any Lien, claim or
encumbrance of any Person. 
 (e) The Issuer has caused or will have caused, within ten days after the Closing Date, the filing of all
appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Collateral (to the extent such security interest can be perfected by the filing of a
financing statement) granted to the Indenture Trustee hereunder. 

  

					
		  	19	  	(NAROT 2019-B Indenture)

 (f) Other than the security interest granted to the Indenture Trustee pursuant to this
Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Collateral. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that
includes a description of collateral covering the Collateral other than any financing statement relating to the security interest granted to the Indenture Trustee hereunder or a financing statement as to which the security interest covering the
Receivables has been released. The Issuer is not aware of any judgment or tax lien filings against the Issuer. 
 (g) The Servicer, as an
agent of the Issuer, and to the extent allowed by law, has in its possession all originals or authoritative copies of the tangible records constituting or forming a part of the Collateral. The Servicer shall at all times maintain control, as defined
in Section 9-105 of the UCC, of all electronic chattel paper. The Receivable Files that constitute or evidence the Collateral do not have any marks or notations indicating that they have been pledged,
assigned or otherwise conveyed by the Issuer to any Person other than the Indenture Trustee. All financing statements filed or to be filed against the Issuer in favor of the Indenture Trustee in connection herewith describing the Collateral contain
a statement to the following effect: “A purchase of or security interest in any collateral described in this financing statement, except as permitted in the Indenture, will violate the rights of the Indenture Trustee.” 

ARTICLE IV 
 Satisfaction
and Discharge 
 SECTION 4.01 Satisfaction and Discharge of Indenture. This Indenture shall cease to be of further effect with
respect to the Notes except as to (i) rights of registration of transfer and exchange, (ii) substitution of mutilated, destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments of principal thereof and interest
thereon, (iv) Sections 3.03, 3.04, 3.05, 3.08, 3.10, 3.12 and 3.13, (v) the rights, obligations and immunities of the Indenture Trustee hereunder (including the rights of the Indenture
Trustee under Section 6.07 and the obligations of the Indenture Trustee under Sections 3.03 and 4.02), and (vi) the rights of the Noteholders and the Certificateholders as beneficiaries hereof with
respect to the property so deposited with the Indenture Trustee payable to all or any of them, and the Indenture Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging satisfaction and discharge of
this Indenture with respect to the Notes, when: 
 (a) either (1) all Notes theretofore authenticated and delivered (other than Notes
that have been destroyed, lost or stolen and that have been replaced or paid as provided in Section 2.05 and Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the
Issuer and thereafter repaid to the Issuer or discharged from such trust, as provided in Section 3.03) have been delivered to the Indenture Trustee for cancellation or (2) all Notes not theretofore delivered to the
Indenture Trustee for cancellation have become due and payable or will become due and payable within one year (either because the Final Scheduled Distribution Date for the Class A-4 Notes is within one
year or because the Indenture Trustee has received notice of the exercise of the option granted pursuant to Section 9.01 of the Sale and Servicing Agreement) and the Issuer has irrevocably deposited or caused to be irrevocably deposited with
the Indenture Trustee cash or direct obligations of or obligations guaranteed by the United States of America (which will mature prior to the date such amounts are payable), in trust for such purpose, in an amount sufficient to pay and discharge the
entire indebtedness on such Notes not theretofore delivered to the Indenture Trustee for cancellation when due; 

  

					
		  	20	  	(NAROT 2019-B Indenture)

 (b) the Issuer has paid or caused to be paid all other sums payable hereunder by the Issuer
(but without taking into account any payments to the Designated Account for distribution to the Certificateholder); and 
 (c) the Issuer
has delivered to the Indenture Trustee, an Officer’s Certificate, an Opinion of Counsel (if required by the TIA) and an Independent Certificate from a firm of certified public accountants (if required by the TIA and if such discharge is not
related to a redemption of the Notes in accordance with Article X), each meeting the applicable requirements of Section 11.01 and, subject to Section 11.02, each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 SECTION 4.02
Application of Trust Money. All moneys deposited with the Indenture Trustee pursuant to Section 4.01 hereof shall be held in trust and (a) applied by it in accordance with the provisions of the Notes and this
Indenture to the payment, either directly or through any Paying Agent, as the Indenture Trustee may determine, to the Holders of the particular Notes for the payment of which such moneys have been deposited with the Indenture Trustee, of all sums
due and to become due thereon for principal and interest or (b) released to the Owner Trustee for application pursuant to the Trust Agreement or the Sale and Servicing Agreement; but such moneys need not be segregated from other funds except to
the extent required herein or in the Sale and Servicing Agreement or required by law. 
 SECTION 4.03 Repayment of Moneys Held by Paying
Agent. In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to such Notes
shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.03 or 4.02 and thereupon such Paying Agent shall be released from all further liability with respect to
such moneys. 
 ARTICLE V 

Remedies 
 SECTION 5.01
Events of Default. “Event of Default,” wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of
law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(a) default in the payment of any interest on any Note when the same becomes due and payable, and such default shall continue for a period of
five days; 
 (b) default in the payment of the principal of any Note on the Final Scheduled Distribution Date or the Redemption Date; 

  

					
		  	21	  	(NAROT 2019-B Indenture)

 (c) a material default in the observance or performance of any covenant or agreement of the
Issuer made in this Indenture (other than a covenant or agreement, a default in the observance or performance of which is elsewhere in this Section specifically dealt with) which shall continue or not be cured for a period of 90 days after there
shall have been given, by registered or certified mail, to the Issuer by the Indenture Trustee or to the Issuer and the Indenture Trustee by the Holders of at least a majority of the Outstanding Amount of the Notes, acting together as a single
class, a written notice specifying such default; 
 (d) any representation or warranty of the Issuer made in this Indenture or in any
certificate or other writing delivered pursuant hereto or in connection herewith shall prove to have been incorrect in any material respect as of the time when the same shall have been made, and such default shall continue or not be cured, or the
circumstance or condition in respect of which such misrepresentation or warranty was incorrect shall not have been eliminated or otherwise cured, for a period of 60 days after there shall have been given, by registered or certified mail, to the
Issuer by the Indenture Trustee or to the Issuer and the Indenture Trustee by the Holders of at least a majority of the Outstanding Amount of the Notes, acting together as a single Class, a written notice specifying such incorrect representation; or

 (e) an Insolvency Event shall have occurred with respect to the Issuer. 

SECTION 5.02 Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in
every such case the Indenture Trustee or the Holders of a majority of the Outstanding Amount of the Notes, voting as a single class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the
Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. 

At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has
been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of a majority of the Outstanding Amount of the Notes, voting as a single class, by written notice to the Issuer and the Indenture Trustee, may rescind and
annul such declaration and its consequences if: 
 (a) the Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay:

 (1) all payments of principal of and interest on the Notes and all other amounts that would then be due hereunder or upon such Notes if
the Event of Default giving rise to such acceleration had not occurred; and 
 (2) all sums paid or advanced by the Indenture Trustee
hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel. 
 (b)
all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. 

  

					
		  	22	  	(NAROT 2019-B Indenture)

 No such rescission shall affect any subsequent default or impair any right consequent
thereto. 
 SECTION 5.03 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee. 

(a) The Issuer covenants that if (i) default is made in the payment of any interest on any Note when the same becomes due and payable,
and such default continues for a period of five days, or (ii) default is made in the payment of the principal of any Note at the related Final Scheduled Distribution Date or Redemption Date, the Issuer will, upon demand of the Indenture
Trustee, pay to the Indenture Trustee, for the benefit of the Holders of the Notes, the whole amount then due and payable on the Notes for principal and interest, with interest upon the overdue principal and, to the extent payment at such rate of
interest shall be legally enforceable, upon overdue installments of interest at the rate borne by the Notes and in addition thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel. 
 (b) In case the Issuer shall fail
forthwith to pay such amounts upon such demand, the Indenture Trustee, in its own name and as trustee of an express trust, may institute a Proceeding for the collection of the sums so due and unpaid, and may prosecute such Proceeding to judgment or
final decree, and may enforce the same against the Issuer or other obligor upon such Notes and collect in the manner provided by law out of the property of the Issuer or other obligor upon such Notes, wherever situated, the moneys adjudged or
decreed to be payable. 
 (c) If an Event of Default occurs and the maturity of the Notes is accelerated, the Indenture Trustee may, as more
particularly provided in Section 5.04, in its discretion, proceed to protect and enforce its rights and the rights of the Noteholders and, incidentally thereto, the Certificateholders, by such appropriate Proceedings as the
Indenture Trustee shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other
proper remedy or legal or equitable right vested in the Indenture Trustee by this Indenture or by law, or the Indenture Trustee may elect to maintain the Collateral and continue to apply the proceeds from the Collateral in accordance with
Section 5.04(b). 
 (d) In case there shall be pending, relative to the Issuer or any other obligor upon the Notes
or any Person having or claiming an ownership interest in the Owner Trust Estate, Proceedings under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver,
assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor or Person, or in case of any other comparable
judicial Proceedings relative to the Issuer or other obligor upon the Notes, or to the creditors or property of the Issuer or such other obligor, then, irrespective of whether the principal of any Notes shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether the Indenture Trustee shall have made any demand pursuant to the provisions of this Section, the Indenture Trustee shall be entitled and empowered, by intervention in such
Proceedings or otherwise: 

  

					
		  	23	  	(NAROT 2019-B Indenture)

 (1) to file and prove a claim or claims for the whole amount of principal and interest
owing and unpaid in respect of the Notes, and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Indenture Trustee (including any claim for reasonable compensation to the Indenture Trustee and
each predecessor Indenture Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Indenture Trustee and each predecessor Indenture Trustee, except as
a result of negligence or bad faith) and of the Noteholders allowed in such Proceedings; 
 (2) unless prohibited by applicable law and
regulations, to vote on behalf of the Holders of Notes in any election of a trustee, a standby trustee or Person performing similar functions in any such Proceedings; 

(3) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all amounts received with
respect to the claims of the Noteholders and of the Indenture Trustee on their behalf; and 
 (4) to file such proofs of claim and other
papers or documents as may be necessary or advisable in order to have the claims of the Indenture Trustee or the Holders of Notes allowed in any judicial proceedings relative to the Issuer, its creditors and its property. 

Any trustee, receiver, liquidator, custodian or other similar official in any such Proceeding is hereby authorized by each of such Noteholders
to make payments to the Indenture Trustee and, in the event that the Indenture Trustee shall consent to the making of payments directly to such Noteholders, to pay to the Indenture Trustee such amounts as shall be sufficient to cover reasonable
compensation to the Indenture Trustee, each predecessor Indenture Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Indenture Trustee and each predecessor
Indenture Trustee except as a result of negligence or bad faith. 
 (e) Nothing herein contained shall be deemed to authorize the Indenture
Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Indenture
Trustee to vote in respect of the claim of any Noteholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. 

(f) All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Indenture Trustee
without the possession of any of the Notes or the production thereof in any trial or other Proceedings relative thereto, and any such action or Proceedings instituted by the Indenture Trustee shall be brought in its own name as trustee of an express
trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Indenture Trustee, each predecessor Indenture Trustee and their respective agents and attorneys, shall be for the ratable benefit of
the Holders of the Notes. 

  

					
		  	24	  	(NAROT 2019-B Indenture)

 (g) In any Proceedings brought by the Indenture Trustee (and also any Proceedings involving
the interpretation of any provision of this Indenture to which the Indenture Trustee shall be a party), the Indenture Trustee shall be held to represent all the Noteholders, and it shall not be necessary to make any Noteholder a party to any such
Proceedings. 
 SECTION 5.04 Remedies; Priorities. 

(a) If an Event of Default shall have occurred and resulted in the acceleration of the Notes, the Indenture Trustee shall make payments as set
forth in Section 5.04(b) of this Indenture, rather than pursuant to Section 5.06(a) of the Sale and Servicing Agreement. 

(b) Notwithstanding the provisions of Section 5.06(a) of the Sale and Servicing Agreement, if the Indenture Trustee collects any money or
property pursuant to this Article V and the Notes have been accelerated, it shall make the following deposits and distributions on such Distribution Date, to the extent of Available Amounts on deposit in the Collection Account for such Distribution
Date, in the following order of priority: 
 (1) pro rata, to the Indenture Trustee and the Owner Trustee, any accrued and unpaid fees,
expenses and indemnity payments due pursuant to this Indenture and the Trust Agreement, respectively, but only to the extent that such fees, expenses or indemnity payments have not been paid by the Administrator and have been outstanding for at
least sixty (60) days; 
 (2) to the Asset Representations Reviewer, any accrued and unpaid fees, expenses and indemnity payments due
pursuant to the Asset Representations Review Agreement, but only to the extent that such fees, expenses or indemnity payments have not been paid by the Sponsor and have been outstanding for at least sixty (60) days; 

(3) to the Servicer, the Base Servicing Fee and any unpaid Base Servicing Fees from one or more prior Collection Periods; 

(4) on a pro rata basis (based on the amounts distributable pursuant to this clause to each Class of Noteholders), to the Class A-1 Noteholders, the Noteholders’ Interest Distributable Amount for such Class, to the Class A-2 Noteholders, the Noteholders’ Interest Distributable
Amount for such Class, to the Class A-3 Noteholders, the Noteholders’ Interest Distributable Amount for such Class, and to the Class A-4 Noteholders, the
Noteholders’ Interest Distributable Amount for such Class; 
 (5) to the Class A-1
Noteholders, until the principal amount of the Class A-1 Notes is reduced to zero, and then to the Class A-2 Noteholders, the
Class A-3 Noteholders and the Class A-4 Noteholders on a pro rata basis (based on the Outstanding Amount of each such Class), until the principal amount for
such Class of Notes is reduced to zero; and 
 (6) any remaining Available Amounts to the Designated Account for distribution to the
Certificateholders. 

  

					
		  	25	  	(NAROT 2019-B Indenture)

 (c) If the Indenture Trustee, as a result of the operation of
Section 5.04(a), is deemed to have a conflict of interest under the TIA and is required to resign as Indenture Trustee hereunder, the Issuer shall, pursuant to Section 6.08, cause the Servicer to
appoint a successor Indenture Trustee. 
 (d) In accordance with Section 5.03(c), if an Event of Default shall
have occurred and resulted in the acceleration of the Notes, the Indenture Trustee may do one or more of the following (subject to Section 5.05): 

(1) institute Proceedings in its own name and as trustee of an express trust for the collection of all amounts then payable on the Notes or
under this Indenture with respect thereto, whether by declaration or otherwise, enforce any judgment obtained, and collect from the Issuer and any other obligor upon such Notes moneys adjudged due; 

(2) institute Proceedings from time to time for the complete or partial foreclosure of this Indenture with respect to the Collateral; 

(3) exercise any remedies of a secured party under the UCC and take any other appropriate action to protect and enforce the rights and
remedies of the Indenture Trustee and the Noteholders, including electing to maintain the Collateral and to continue to apply the proceeds from the Collateral in accordance with Section 5.04(b); and 

(4) sell the Collateral or any portion thereof or rights or interest therein, at one or more public or private sales called and conducted in
any manner permitted by law; provided, however, that the Indenture Trustee may not sell or otherwise liquidate the Collateral following an Event of Default, other than an Event of Default described in
Section 5.01(a) or (b), unless (A) the Holders of 100% of the Outstanding Amount of the Notes consent thereto, or (B) the proceeds of such sale or liquidation distributable to the Noteholders are sufficient
to discharge in full all amounts then due and unpaid upon the Notes for principal and interest at the date of such sale or liquidation, (C) the Indenture Trustee determines that the Owner Trust Estate may not continue to provide sufficient
funds on an ongoing basis to make all payments of principal of and interest on the Notes as they would have become due if the Notes had not been declared due and payable, and the Indenture Trustee obtains the consent of Holders of at least 66 2/3%
of the Outstanding Amount of the Notes, voting as a single class, or (D) the Servicer exercises its option to purchase the Receivables pursuant to Section 9.01 of the Sale and Servicing Agreement and Section 10.01
hereof. In determining such sufficiency or insufficiency with respect to clauses (B) and (C), the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national
reputation as to the feasibility of such proposed action and as to the sufficiency of the Owner Trust Estate for such purpose. 
 (e) The
Indenture Trustee may fix a record date and payment date for any payment to Noteholders pursuant to this Section. At least 15 days before such record date, the Issuer shall mail to each Noteholder and the Indenture Trustee a notice that states the
related record date, payment date and amount to be paid. 

  

					
		  	26	  	(NAROT 2019-B Indenture)

 SECTION 5.05 Optional Preservation of the Collateral. If the Notes have been declared
to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, unless otherwise directed by the Holders of
at least a majority of the Outstanding Amount of the Notes, voting as a single class, but need not, elect to maintain possession of the Collateral and direct the Issuer, Servicer and Administrator not to take steps to liquidate the Receivables. It
is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such desire into account when determining whether or
not to maintain possession of the Collateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of
national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose. 
 SECTION
5.06 Limitation of Suits. Except to the extent expressly set forth in Section 7.07 of this Indenture or Section 10.13 of the Sale and Servicing Agreement, no Holder of any Note shall have any right to institute
any Proceeding, judicial or otherwise, with respect to this Indenture or the other Basic Documents, or for the appointment of a receiver or trustee, or for any other remedy hereunder unless such Holder has previously given written notice to the
Indenture Trustee of a continuing Event of Default or breach of the Basic Documents by a party thereto (an “Action”), and: 

(a) the Event of Default or Action, as applicable, arises from the Servicer’s failure to remit payments when due; or 

(b) the Holders of not less than 25% of the Outstanding Amount of the Notes, voting as a single class have made written request to the
Indenture Trustee to institute such Proceeding in respect of such Event of Default or Action, as applicable in its own name as Indenture Trustee hereunder and have offered to the Indenture Trustee reasonable indemnity against the costs, expenses and
liabilities to be incurred in complying with such request, the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings, and no direction inconsistent with that written
request has been given to the Indenture Trustee during the 60-day period by the holders of a majority in principal amount of those outstanding Notes (or relevant class or classes of Notes). 

It is understood and intended that no one or more Holders of Notes shall have any right in any manner whatever by virtue of, or by availing
of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Notes or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the
manner herein provided. 
 In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or
more groups of Holders of Notes, each representing less than a majority of the Outstanding Amount of the Notes, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of
this Indenture. 

  

					
		  	27	  	(NAROT 2019-B Indenture)

 SECTION 5.07 Rights of Noteholders to Receive Principal and Interest. Notwithstanding
any other provisions in this Indenture, the Holder of any Note shall have the right to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note and in this Indenture
(in each case with reference to the calculations to be made pursuant to the Sale and Servicing Agreement), and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. 

SECTION 5.08 Restoration of Rights and Remedies. If the Indenture Trustee or any Noteholder has instituted any Proceeding to enforce
any right or remedy under this Indenture and such Proceeding has been discontinued or abandoned for any reason or has been determined adversely to the Indenture Trustee or to such Noteholder, then and in every such case the Issuer, the Indenture
Trustee and the Noteholders shall, subject to any determination in such Proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Indenture Trustee and the Noteholders shall
continue as though no such Proceeding had been instituted. 
 SECTION 5.09 Rights and Remedies Cumulative. No right or remedy herein
conferred upon or reserved to the Indenture Trustee or the Noteholders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right
or remedy. 
 SECTION 5.10 Delay or Omission Not a Waiver. No delay or omission of the Indenture Trustee or any Holder of any Note to
exercise any right or remedy accruing upon any Default or Event of Default shall impair any such right or remedy or constitute a waiver of any such Default or Event of Default or an acquiescence therein. Every right and remedy given by this Article
V or by law to the Indenture Trustee or the Noteholders may be exercised from time to time, and as often as may be deemed expedient, by the Indenture Trustee or the Noteholders, as the case may be. 

SECTION 5.11 Control by Noteholders. The Holders of a majority of the Outstanding Amount of the Notes, voting as a single class, shall
have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Notes or exercising any trust or power conferred on the Indenture Trustee; provided that:

 (a) such direction shall not be in conflict with any rule of law or with this Indenture or the other Basic Documents; and 

(b) any direction to the Indenture Trustee to sell or liquidate the Collateral shall be by Holders of Notes representing not less than the
applicable percentage of the Outstanding Amount of the Notes set forth in Section 5.04(d)(4); and 

  

					
		  	28	  	(NAROT 2019-B Indenture)

 (c) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee
that is not inconsistent with such direction. 
 Notwithstanding the rights of Noteholders set forth in this Section, subject to
Section 6.01, the Indenture Trustee need not take any action that it determines might involve it in liability or might materially adversely affect the rights of any Noteholders not consenting to such action. 

SECTION 5.12 Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in
Section 5.02 or the liquidation or sale of the Collateral pursuant to Section 5.04, the Holders of a majority of the Outstanding Amount of the Notes, voting as a single class, may waive any past
Default or Event of Default and its consequences except a Default or Event of Default in (a) payment of principal or interest on the Notes or (b) an Event of Default in respect of a covenant or provision hereof that cannot be modified or
amended without the consent of the Holder of each Note. In the case of any such waiver, the Issuer, the Indenture Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder, respectively. 

Upon any such waiver, such Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default
arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. 

SECTION 5.13 Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Note or Note Owner by such
Holder’s acceptance of such Note or beneficial interest therein, as the case may be, shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or
in any suit against the Indenture Trustee for any action taken, suffered or omitted by it as Indenture Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion
assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section
shall not apply to (a) any suit instituted by the Indenture Trustee, (b) any suit instituted by any Noteholder, or a group of Noteholders, in each case holding in the aggregate more than 10% of the Outstanding Amount of the Notes, or
(c) any suit instituted by any Noteholder for the enforcement of the payment of principal of or interest on any Note on or after the respective due dates expressed in such Note and in this Indenture. 

SECTION 5.14 Waiver of Stay or Extension Laws. The Issuer covenants (to the extent that it may lawfully do so) that it will not at any
time insist upon, or plead or in any manner whatsoever, claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture;
and the Issuer (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Indenture Trustee,
but will suffer and permit the execution of every such power as though no such law had been enacted. 

  

					
		  	29	  	(NAROT 2019-B Indenture)

 SECTION 5.15 Action on Notes. The Indenture Trustee’s right to seek and recover
judgment on the Notes or under this Indenture shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this Indenture. Neither the lien of this Indenture nor any rights or remedies of the Indenture
Trustee or the Noteholders shall be impaired by the recovery of any judgment by the Indenture Trustee against the Issuer or by the levy of any execution under such judgment upon any portion of the Owner Trust Estate or upon any of the assets of the
Issuer. Any money or property collected by the Indenture Trustee shall be applied in accordance with Section 5.04(a). 

SECTION 5.16 Performance and Enforcement of Certain Obligations. 

(a) Promptly following a request from the Indenture Trustee to do so and at the Administrator’s expense, the Issuer shall take all such
lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the Seller and the Servicer, as applicable, of each of their obligations to the Issuer or to each other under or in connection with the Sale and
Servicing Agreement, or by the Seller of its remedies under or in connection with the Purchase Agreement, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with each such
agreement to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the Seller or the Servicer thereunder and the institution of legal or administrative actions or proceedings
to compel or secure performance by the Seller or the Servicer of each of their respective obligations under the Sale and Servicing Agreement or the Purchase Agreement. 

(b) If an Event of Default has occurred and is continuing, the Indenture Trustee may, and at the direction (which direction shall be in
writing or by telephone, confirmed in writing promptly thereafter) of the Holders of a majority of the Outstanding Amount of the Notes, voting as a single class, shall, exercise all rights, remedies, powers, privileges and claims of the Issuer
against the Seller or the Servicer under or in connection with the Sale and Servicing Agreement, the Purchase Agreement, or against the Administrator under the Administration Agreement, including the right or power to take any action to compel or
secure performance or observance by the Seller, the Servicer or the Administrator, of each of their obligations to the Issuer thereunder and to give any consent, request, notice, direction, approval, extension, or waiver thereunder and any right of
the Issuer to take such action shall be suspended. 
 ARTICLE VI 

The Indenture Trustee 

SECTION 6.01 Duties of Indenture Trustee. The Indenture Trustee, both prior to and after the occurrence of a Servicer Default under the
Sale and Servicing Agreement, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. 
 (a)
The Indenture Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Indenture Trustee that shall be specifically required to be furnished pursuant to any
provision of this Indenture, shall examine them to determine whether they conform on their face to the requirements of this Indenture. 

  

					
		  	30	  	(NAROT 2019-B Indenture)

 (b) No provision of this Indenture shall be construed to relieve the Indenture Trustee from
liability for its own negligent action, its own negligent failure to act, its own bad faith or its own willful misfeasance; provided, however, that: 

(1) the duties and obligations of the Indenture Trustee shall be determined solely by the express provisions of this Indenture, the Indenture
Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture, no implied covenants or obligations shall be read into this Indenture against the Indenture Trustee, the
permissive right of the Indenture Trustee to do things enumerated in this Indenture shall not be construed as a duty and, in the absence of bad faith on the part of the Indenture Trustee, the Indenture Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Indenture Trustee and conforming on their face to the requirements of this Indenture; 

(2) the Indenture Trustee shall not be personally liable for an error of judgment made in good faith, unless it shall be proved that the
Indenture Trustee was negligent in performing its duties in accordance with the terms of this Indenture; and 
 (3) the Indenture Trustee
shall not be personally liable with respect to any action taken, suffered or omitted to be taken in good faith in accordance with the direction of the Holders of at least a majority of the Outstanding Amount of the Notes, voting as a single class,
relating to the time, method and place of conducting any proceeding for any remedy available to the Indenture Trustee, or exercising any trust or power conferred upon the Indenture Trustee under this Indenture. 

(c) The Indenture Trustee shall not be required to expend or risk its own funds or otherwise incur financial liability in the performance of
any of its duties under this Indenture, or in the exercise of any of its rights or powers, if there shall be reasonable grounds for believing that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it. 
 (d) All information obtained by the Indenture Trustee regarding the Obligors and the Receivables contained in the Issuer,
whether upon the exercise of its rights under this Indenture or otherwise, shall be maintained by the Indenture Trustee in confidence and shall not be disclosed to any other Person, unless such disclosure is required by any applicable law or
regulation or pursuant to subpoena. 
 (e) If (i) pursuant to Section 3.02 of the Sale and Servicing Agreement, an Authorized
Officer of the Indenture Trustee has actual knowledge or receives written notice that a representation or warranty with respect to a Receivable was incorrect as of the time specified with respect to such representation and warranty and such
incorrectness materially and adversely affects such Receivable, or (ii) pursuant to Section 4.06 of the Sale and Servicing Agreement, an Authorized Officer of the Indenture Trustee discovers that a covenant of the Servicer has been
breached with respect to a Receivable that would materially and adversely affect such Receivable, the Indenture Trustee shall give prompt written notice to the Servicer and the Owner Trustee of such incorrectness. 

  

					
		  	31	  	(NAROT 2019-B Indenture)

 (f) The Indenture Trustee shall not be deemed to have knowledge of any Default or Event of
Default, breach of representation or warranty or other event unless an Authorized Officer has actual knowledge thereof or has received written notice thereof in accordance with the provisions of this Indenture. For the avoidance of doubt, receipt by
the Indenture Trustee of a Review Report shall not constitute actual knowledge of any breach of representation or warranty. 
 (g) In no
event shall the Indenture Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation,
strikes, work stoppages, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications systems or services. 

(h) In no event shall the Indenture Trustee be liable for any costs, expenses and/or liabilities that could be allocated to a requesting
party. 
 (i) The Indenture Trustee shall not be obligated to monitor, supervise or enforce the performance of the Depositor or the Sponsor
under the Basic Documents, except as otherwise expressly specified herein. 
 (j) In no event shall the Indenture Trustee be liable for
failure to perform its obligations hereunder if such failure is a result of another Transaction Party’s failure to perform its responsibilities or obligations in this Indenture or other Basic Documents. 

SECTION 6.02 Rights of Indenture Trustee. 

(a) Except as otherwise provided in Section 6.01: 

(1) the Indenture Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, Officer’s
Certificate, certificate of an authorized signatory, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond or other paper or document believed by it to be genuine
and to have been signed or presented by the proper party or parties, including, without limitation, provided to it via email or other suitable means of electronic distribution as permitted in writing by the Indenture Trustee; 

(2) the Indenture Trustee may consult with counsel, accountants and experts and the advice of such counsel, accountants or experts or any
Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it under this Indenture in good faith and in accordance with such advice or Opinion of Counsel; 

(3) other than in connection with an Asset Review pursuant to Sections 7.08(a) or (b), the Indenture Trustee shall be under no
obligation to exercise any of the rights or powers vested in it by this Indenture or the Sale and Servicing Agreement, or to institute, conduct or defend any litigation under this Indenture, or in relation to this Indenture or the Sale and Servicing
Agreement, at the request, order or direction of any of the Noteholders 

  

					
		  	32	  	(NAROT 2019-B Indenture)

 pursuant to the provisions of this Indenture or the Sale and Servicing Agreement, unless such Noteholders
shall have offered to the Indenture Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred by it, its agents and its counsel in compliance with such request, order or direction; 

(4) the Indenture Trustee shall not be personally liable for any action taken, suffered or omitted by it in good faith and reasonably
believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (5) the Indenture
Trustee shall not be bound to recalculate, reverify, or make any investigation into the facts of matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or
document, unless requested in writing to do so by Holders of Notes evidencing not less than 25% of the Outstanding Amount of the Notes; provided, however, that if the payment within a reasonable time to the Indenture Trustee of the
costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Indenture Trustee, not reasonably assured to the Indenture Trustee by the security afforded to it by the terms of this
Indenture, the Indenture Trustee may require reasonable indemnity against such cost, expense or liability as a condition to so proceeding; the reasonable expense of every such examination shall be paid by the Administrator or, if paid by the
Indenture Trustee, shall be reimbursed by the Administrator upon demand; and nothing in this clause shall derogate from the obligation of the Servicer to observe any applicable law prohibiting disclosure of information regarding the Obligors; 

(6) the Indenture Trustee may execute any of the trusts or powers under this Indenture or perform any duties under this Indenture either
directly or by or through agents or attorneys or a custodian, and the Indenture Trustee shall not be liable for the misconduct of such agents or attorneys if such agents or attorneys have been selected by the Indenture Trustee with reasonable care;

 (7) in order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking
institutions, including those relating to the funding of terrorist activities and money laundering (“Applicable Law”), the Indenture Trustee is required to obtain, verify and record certain information relating to individuals and
entities which maintain a business relationship with the Indenture Trustee. Accordingly, each of the parties agrees to provide the Indenture Trustee upon its reasonable request from time to time such identifying information and documentation as may
be reasonably available for such party in order to enable the Indenture Trustee to comply with Applicable Law; 
 (8) the rights,
privileges, protections, immunities and benefits given to the Indenture Trustee herein, including the right to be indemnified, are extended to, and shall be enforceable by, the Indenture Trustee in its capacities as Indenture Trustee, Paying Agent
and Secured Party under the Basic Documents; and 
 (9) all communications, notices, instruction and other documents to be received by the
Indenture Trustee (with the exception of those for which a non-electronic signature is expressly requested by the Indenture Trustee) may be provided to it via email with receipt confirmed via reply email, if
requested, or other suitable means of electronic distribution as permitted in writing by the Indenture Trustee. 

  

					
		  	33	  	(NAROT 2019-B Indenture)

 (10) Before the Indenture Trustee acts or refrains from acting, it may require an
Officer’s Certificate (with respect to factual matters) and/or an Opinion of Counsel (with respect to matters of law), as applicable. The Indenture Trustee shall not be liable for any action it takes or omits to take in good faith in reliance
on such Officer’s Certificate or Opinion of Counsel. 
 (11) The Indenture Trustee will not be responsible for special, indirect,
punitive, or consequential damages. 
 (b) No Noteholder will have any right to institute any proceeding with respect to this Indenture
except upon satisfying the conditions set forth in Section 5.06. 
 (c) No provision of this Indenture shall be
deemed to impose any duty or obligation on the Indenture Trustee or take or omit to take any action, suffer any action to be taken or omitted, in the performance of its duties, or to exercise any right or power hereunder, to the extent that taking
or omitting to take such action or suffering such action to be taken or omitted would, in the judgment of the Indenture Trustee, expose it to liability or violate applicable law binding upon it (which determination may be based on an Opinion of
Counsel). 
 SECTION 6.03 Individual Rights of Indenture Trustee. The Indenture Trustee in its individual or any other capacity may
become the Holder, beneficial owner or pledgee of Notes and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Indenture Trustee. Any Paying Agent, Note Registrar,
co-registrar or co-paying agent may do the same with like rights. However, in so doing the Indenture Trustee must comply with Sections 6.11 and 6.12. 

SECTION 6.04 Indenture Trustee’s Disclaimer. The Indenture Trustee makes no representations as to the validity or
sufficiency of this Indenture or the Notes (other than the execution by the Indenture Trustee on behalf of the Issuer of, and the certificate of authentication on, the Notes), or of the Certificates. The Indenture Trustee shall have no obligation to
perform any of the duties of the Servicer or the Administrator unless explicitly set forth in this Indenture. The Indenture Trustee shall at no time have any responsibility or liability for or with respect to the legality, validity and
enforceability of the Notes or any Receivable, any ownership interest in any Financed Vehicle, or the maintenance of any such ownership interest, or for or with respect to the efficacy of the Issuer or its ability to generate the payments to be
distributed to Noteholders under this Indenture, including without limitation the validity of the assignment of the Receivables to the Issuer or of any intervening assignment; the existence, condition, location and ownership of any Receivable or
Financed Vehicle; the existence and enforceability of any physical damage or credit life or credit disability insurance; the existence and contents of any retail installment sales contract or any computer or other record thereof; the completeness of
any retail installment sales contract; the performance or enforcement of any retail installment sales contract; the compliance by the Issuer with any covenant or the breach by the Issuer, Seller or Servicer of any warranty or representation made
under this Indenture or in any Basic Document or other related document and the accuracy of any such warranty or representation prior to the 

  

					
		  	34	  	(NAROT 2019-B Indenture)

 Indenture Trustee’s receipt of notice or other discovery of any noncompliance therewith or any breach
thereof; the acts or omissions of the Issuer, Seller or the Servicer; or any action by the Indenture Trustee taken at the instruction of the Issuer or Servicer, provided, however, that the foregoing shall not relieve the Indenture
Trustee of its obligation to perform its duties under this Indenture. Except with respect to a claim based on the failure of the Indenture Trustee to perform its duties under this Indenture or based on the Indenture Trustee’s willful
misconduct, bad faith or negligence, no recourse shall be had for any claim based on any provision of this Indenture, the Notes or Certificates or assignment thereof against the institution serving as the Indenture Trustee in its individual
capacity. The Indenture Trustee shall not have any personal obligation, liability or duty whatsoever to any Noteholder or any other Person with respect to any such claim, and any such claim shall be asserted solely against the Issuer or any
indemnitor who shall furnish indemnity as provided in this Indenture. The Indenture Trustee shall not be accountable for the use or application by the Issuer of any of the Notes or of the proceeds of such Notes, or for the use or application of any
funds paid to the Servicer in respect of the Notes. 
 SECTION 6.05 Notice of Defaults. If an Authorized Officer of the Indenture
Trustee has actual knowledge or has received written notice that a Default has occurred and is continuing, the Indenture Trustee shall mail to each Noteholder notice of such Default within 10 days of the occurrence thereof. Except in the case of a
Default in payment of principal of or interest on any Note, the Indenture Trustee may withhold such notice if and so long as a committee of its Authorized Officers in good faith determines that withholding the notice is in the interests of
Noteholders. 
 SECTION 6.06 Reports by Indenture Trustee to Holders. The Indenture Trustee shall deliver or cause to be delivered
annually to each Noteholder of record such information as may be required to enable such Person to prepare its federal and state income tax returns. 

SECTION 6.07 Compensation and Indemnity. The Administrator shall pay to the Indenture Trustee from time to time reasonable compensation
for its services as have been separately agreed upon between the Administrator and the Indenture Trustee. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Administrator
shall reimburse the Indenture Trustee for all reasonable out-of-pocket expenses (including extraordinary
out-of-pocket expenses) incurred or made by it, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses,
disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts including in connection with the Indenture Trustee’s performance of its obligations under Section 10.13 of the Sale
and Servicing Agreement and Sections 7.07 and 7.08 of this Indenture. The Administrator shall indemnify the Indenture Trustee against any and all loss, liability or expense (including reasonable attorneys’ fees and expenses)
incurred by it in connection with the administration of this Indenture or any of the Basic Documents and the performance of its duties hereunder or thereunder, including legal fees and expenses incurred in connection with the enforcement by such
Person of any indemnification or other obligation of the Issuer or Administrator, provided, that the Administrator shall not reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through
the Indenture Trustee’s own willful misconduct, negligence or bad faith. The Indenture Trustee shall notify the Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Administrator
shall not 

  

					
		  	35	  	(NAROT 2019-B Indenture)

 relieve the Administrator of its obligations hereunder. The Administrator shall defend any such claim, and
the Indenture Trustee may have separate counsel and the Administrator shall pay the fees and expenses of such counsel. To the extent not paid by the Administrator and outstanding for at least 60 days, such fees and indemnities shall be paid by the
Issuer pursuant to Section 5.06 of the Sale and Servicing Agreement, provided, that prior to such payment pursuant to the Sale and Servicing Agreement, the Indenture Trustee shall notify the Administrator in writing that such fees and
indemnities have been outstanding for at least 60 days. If such fees and indemnities are paid pursuant to Section 5.06 of the Sale and Servicing Agreement, the Administrator shall reimburse the Issuer in full for such payments. 

The Administrator’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture.
When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the
United States Code or any other applicable federal or state bankruptcy, insolvency or similar law. 
 SECTION 6.08 Replacement of
Indenture Trustee. The Indenture Trustee may resign at any time by providing 30 days prior written notice of its resignation to the Issuer. Noteholders representing a majority of the Outstanding Amount may remove the Indenture Trustee at any
time and appoint a successor Indenture Trustee with 30 days prior written notice to the Indenture Trustee and the Owner Trustee. The Administrator may remove the Indenture Trustee if: 

(a) the Indenture Trustee fails to comply with Section 6.11; 

(b) the Indenture Trustee is adjudged a bankrupt or insolvent; 

(c) a receiver or other public officer takes charge of the Indenture Trustee or its property; or 

(d) the Indenture Trustee otherwise becomes legally or practically incapable of fulfilling its duties hereunder. 

If the Indenture Trustee resigns or is removed or if a vacancy exists in the office of Indenture Trustee for any reason (the Indenture Trustee
in such event being referred to herein as the retiring Indenture Trustee), the Servicer shall promptly appoint a successor Indenture Trustee. The successor Indenture Trustee shall pay all reasonable costs and expenses incurred in connection with
removing and replacing the Indenture Trustee for a series of Notes and transferring the predecessor Indenture Trustee’s duties and obligations to the successor Indenture Trustee. To the extent not paid by the successor Indenture Trustee, the
Administrator shall pay all reasonable costs and expenses incurred in connection with removing and replacing the Indenture Trustee for a series of Notes and transferring the predecessor Indenture Trustee’s duties and obligations to the
successor Indenture Trustee. No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this
Section 6.08. 

  

					
		  	36	  	(NAROT 2019-B Indenture)

 A successor Indenture Trustee shall deliver a written acceptance of its appointment to the
retiring Indenture Trustee, the Servicer, the Owner Trustee and the Administrator. Thereupon the resignation or removal of the retiring Indenture Trustee shall become effective, and the successor Indenture Trustee shall have all the rights, powers
and duties of the Indenture Trustee under this Indenture. The successor Indenture Trustee shall mail a notice of its succession to the Noteholders and the Certificateholders. The retiring Indenture Trustee shall promptly transfer all property held
by it as Indenture Trustee to the successor Indenture Trustee. 
 If a successor Indenture Trustee does not take office within 30 days after
the retiring Indenture Trustee resigns or is removed, the retiring Indenture Trustee, the Administrator or the Holders of a majority in Outstanding Amount of the Notes may petition any court of competent jurisdiction for the appointment of a
successor Indenture Trustee. 
 If the Indenture Trustee fails to comply with Section 6.11, any Noteholder may at
any time thereafter petition any court of competent jurisdiction for the removal of the Indenture Trustee and the appointment of a successor Indenture Trustee. 

Notwithstanding the replacement of the Indenture Trustee pursuant to this Section, the Issuer’s and the Administrator’s obligations
under Section 6.07 shall continue for the benefit of the retiring Indenture Trustee. 
 SECTION 6.09 Successor
Indenture Trustee by Merger. If the Indenture Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another Person, the resulting, surviving or transferee corporation
without any further act shall be the successor Indenture Trustee if such surviving Person or transferee corporation or banking shall be otherwise qualified and eligible under Section 6.11. The Indenture Trustee shall
provide the Issuer, the Owner Trustee and the Administrator reasonable prior written notice of any such transaction (and the Administrator will provide notice thereof to each Rating Agency pursuant to Section 1(d) of the Administration
Agreement). 
 In case at the time such successor or successors by merger, conversion or consolidation to the Indenture Trustee shall
succeed to the trusts created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Indenture Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such
Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Indenture Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor
to the Indenture Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Indenture Trustee shall have. 

SECTION 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee. 

(a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction
in which any part of the Owner Trust Estate may at the time be located, the Indenture Trustee shall have the power and may execute and deliver all instruments to appoint one or more Persons to act as a
co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of the Issuer, and to vest in such Person or Persons, in such capacity and for
the benefit of the Noteholders, such title to the Owner Trust Estate, or any part hereof, and, subject to the other provisions of this Section, such 

  

					
		  	37	  	(NAROT 2019-B Indenture)

 powers, duties, obligations, rights and trusts as the Indenture Trustee may consider necessary or desirable.
No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a trustee under Section 6.11 and no notice to Noteholders of the appointment of any co-trustee or separate trustee shall be required under Section 6.08 hereof. 

(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act
subject to the following provisions and conditions: 
 (1) all rights, powers, duties and obligations conferred or imposed upon such
separate trustee or co-trustee shall be conferred or imposed upon and exercised or performed by the Indenture Trustee and such separate trustee or co-trustee jointly (it
being understood that such separate trustee or co-trustee is not authorized to act separately without the Indenture Trustee joining in and/or directing such act), except to the extent that under any law of any
jurisdiction in which any particular act or acts are to be performed the Indenture Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to
the Owner Trust Estate or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Indenture Trustee;

 (2) no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and 

(3) the Indenture Trustee may at any time accept the resignation of or remove any separate trustee or
co-trustee. 
 (c) Any notice, request or other writing given to the Indenture Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees as effectively as if given to each of them. Every instrument appointing any separate trustee or
co-trustee shall refer to this Indenture and the conditions of this Article VI. Each separate trustee and co-trustee, upon its acceptance of the trusts thereupon
conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Indenture Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, including every
provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection to, the Indenture Trustee. Every such instrument shall be filed with the Indenture Trustee. 

(d) Any separate trustee or co-trustee may at any time constitute the Indenture Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name.
If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Indenture
Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. 

  

					
		  	38	  	(NAROT 2019-B Indenture)

 SECTION 6.11 Eligibility; Disqualification. The Indenture Trustee shall at all times
satisfy the requirements of TIA Section 310(a). The Indenture Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition and it or its parent shall have a
long-term debt rating of “Baa3” or better by Moody’s and “BBB-” or better by Fitch, or otherwise acceptable to the Rating Agencies. The Indenture Trustee shall comply with TIA
Section 310(b), including the optional provision permitted by the second sentence of TIA Section 310(b)(9); provided, however, that there shall be excluded from the operation of TIA Section 310(b)(1) any indenture or
indentures under which other securities of the Issuer are outstanding if the requirements for such exclusion set forth in TIA Section 310(b)(1) are met. 

SECTION 6.12 Preferential Collection of Claims Against Issuer. The Indenture Trustee shall comply with TIA Section 311(a),
excluding any creditor relationship listed in TIA Section 311(b). An Indenture Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated. 

ARTICLE VII 

Noteholders’ Lists and Reports 

SECTION 7.01 Note Registrar To Furnish Names and Addresses of Noteholders. The Note Registrar shall furnish or cause to be furnished to
the Indenture Trustee, the Owner Trustee, the Servicer or the Administrator, within 15 days after receipt by the Note Registrar of a written request therefrom, a list of the names and addresses of the Noteholders of any Class as of the most
recent Record Date. If three or more Noteholders, or one or more Holders evidencing not less than 25% of the Outstanding Amount of the Notes (hereinafter referred to as “Applicants”), apply in writing to the Indenture Trustee, and such
application states that the Applicants desire to communicate with other Noteholders with respect to their rights under this Indenture or under the Notes and such application is accompanied by a copy of the communication that such Applicants propose
to transmit, then the Indenture Trustee shall, within five Business Days after the receipt of such application, afford such Applicants access, during normal business hours, to the current list of Noteholders. Such Indenture Trustee may elect not to
afford the requesting Noteholders access to the list of Noteholders if it agrees to mail the desired communication by proxy, on behalf of and at the expense of the requesting Noteholders, to all Noteholders. Every Noteholder, by receiving and
holding a Note, agrees with the Indenture Trustee and the Issuer that none of the Indenture Trustee, the Owner Trustee, the Issuer, the Servicer or the Administrator shall be held accountable by reason of the disclosure of any such information as to
the names and addresses of the Noteholders under this Indenture, regardless of the source from which such information was derived. 
 If the
Indenture Trustee shall cease to be the Note Registrar, then thereafter the Administrator will furnish or cause to be furnished to the Indenture Trustee not more than five days after the most recent Record Date or at such other times as the
Indenture Trustee reasonably may request in writing, a list, in such form as the Indenture Trustee reasonably may require, of the names and addresses of the Holders of Notes as of such Record Date. 

SECTION 7.02 Preservation of Information; Communications to Noteholders. 

(a) The Indenture Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of the Holders of Notes
contained in the most recent list furnished to the Indenture Trustee as provided in Section 7.01 and the names and addresses of Holders of Notes received by the Indenture Trustee in its capacity as Note Registrar. The
Indenture Trustee may destroy any list furnished to it as provided in such Section 7.01 upon receipt of a new list so furnished. 

  

					
		  	39	  	(NAROT 2019-B Indenture)

 (b) Noteholders may communicate pursuant to TIA Section 312(b) with other Noteholders
with respect to their rights under this Indenture or under the Notes. 
 (c) The Issuer, the Indenture Trustee and the Note Registrar shall
have the protection of TIA Section 3.12(c). 
 SECTION 7.03 Reports by Issuer. 

(a) The Issuer shall: 
 (1)
file with the Indenture Trustee, within 15 days after the Issuer is required to file the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing
as the Commission may from time to time by rules and regulations prescribe) that the Issuer may be required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act; 

(2) file with the Indenture Trustee and the Commission in accordance with the rules and regulations prescribed from time to time by the
Commission such additional information, documents and reports with respect to compliance by the Issuer with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and 

(3) supply to the Indenture Trustee (and the Indenture Trustee shall transmit by mail to all Noteholders described in TIA
Section 313(c)) such summaries of any information, documents and reports required to be filed by the Issuer pursuant to clauses (i) and (ii) of this Section 7.03(a) and by rules and regulations prescribed from
time to time by the Commission. 
 (b) Unless the Issuer otherwise determines, the fiscal year of the Issuer shall end on March 31 of
each year. 
 SECTION 7.04 Reports by Indenture Trustee. If required by TIA Section 313(a), within 60 days after the end of each
Fiscal Year of the Issuer, beginning with the fiscal year ending March 31, 2020, the Indenture Trustee shall mail to each Noteholder as required by TIA Section 313(c) a brief report dated as of such date that sets forth information
required by TIA Section 313(a), including any change to its eligibility and qualification to continue as Indenture Trustee under this Indenture, any amounts advanced by it under this Indenture, the amount, interest rate and maturity date of
certain indebtedness owed by the Issuer to such Indenture Trustee, in its individual capacity, the property and funds physically held by such Indenture Trustee in its capacity as such, and any action taken by it that materially affects the Notes and
that has not been previously reported. The Indenture Trustee also shall comply with TIA Section 313(b). 
 A copy of each report at the
time of its mailing to Noteholders shall be filed by the Indenture Trustee with the Commission and each stock exchange, if any, on which the Notes are listed. The Issuer shall notify the Indenture Trustee if and when the Notes are listed on any
stock exchange. 

  

					
		  	40	  	(NAROT 2019-B Indenture)

 SECTION 7.05 Indenture Trustee Website. The Indenture Trustee may make available to
the Noteholders, via the Indenture Trustee’s website, all reports or notices required to be provided by the Indenture Trustee under the terms of this Indenture and, with the consent or at the direction of the Servicer, such other information
regarding the Notes as the Indenture Trustee may have in its possession. Any information that is disseminated in accordance with the provisions of this Section 7.05 shall not be required to be disseminated in any other form
or manner. Except for documents prepared by the Indenture Trustee and subject to its obligations under this Indenture, the Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents and will
assume no responsibility therefor. 
 The Indenture Trustee’s internet website shall be initially located at https://pivot.usbank.com
or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the parties hereto. In connection with providing access to the Trustee’s internet website, the Indenture Trustee may require registration
and the acceptance of a disclaimer. 
 SECTION 7.06 Information to be Provided by the Indenture Trustee. The Indenture Trustee shall
provide the Issuer and the Servicer (each, a “Nissan Party,” and collectively, the “Nissan Parties”) with (i) notification pursuant to Section 6.01(e), as soon as practicable and in any event
within ten Business Days, (ii) not later than the tenth day of each calendar month (or, if such day is not a Business Day, the immediately following Business Day), beginning June 10, 2019, a report substantially in the form of Exhibit B
with respect to any demands communicated to an Authorized Officer of the Indenture Trustee during the immediately preceding calendar month (or, in the case of the initial notice, since the Closing Date) for the repurchase of any Receivable pursuant
to Section 3.02 of the Sale and Servicing Agreement, and (iii) promptly upon the request by a Nissan Party, any information in its possession reasonably requested by a Nissan Party to facilitate compliance by the Nissan Parties with Rule 15Ga-1 under the Exchange Act and Items 1104(e) and 1121(c) of Regulation AB. In no event shall the Indenture Trustee be deemed to be a “securitizer” as defined in Section 15G(a) of the Exchange Act,
nor shall it have any responsibility for making any filing required to be made by a securitizer under the Exchange Act or Regulation AB. 

SECTION 7.07 Noteholder Demand for Repurchase; Dispute Resolution. 

(a) If an Investor becomes aware of a breach of NMAC’s representations and warranties in Section 3.2(b) of the Purchase Agreement or
the Seller’s representations and warranties in Section 3.01 of the Sale and Servicing Agreement that would require NMAC or the Seller, as applicable, to repurchase a Receivable pursuant to Section 4.3 of the Purchase Agreement or
Section 3.02 of the Sale and Servicing Agreement, as applicable, such Investor (the “Requesting Investor”) may, or by written notice to the Indenture Trustee may direct the Indenture Trustee to, notify NMAC or the Seller, as
applicable, in writing of such breach and request that NMAC or the Seller, as applicable, repurchase the related Receivable. Any such request, and any related direction to the Indenture Trustee, shall identify the Receivable, as well as the related
breach of representation or warranty. If the Requesting Investor is a Note Owner, 

  

					
		  	41	  	(NAROT 2019-B Indenture)

 then each written notice from such Requesting Investor must be accompanied by Verification Documents. Upon
receipt of any written notice of a repurchase request that complies with the requirements of this Section 7.07(a), the Indenture Trustee shall forward such written notice to NMAC or the Seller and request that NMAC or the
Seller, as applicable, repurchase the related Receivable pursuant to Section 4.3 of the Purchase Agreement or Section 3.02 of the Sale and Servicing Agreement, as applicable. For avoidance of doubt, following delivery of such notice and
request to NMAC or the Seller, the Indenture Trustee shall have no responsibility or liability for the determination by NMAC or the Seller, as applicable, to repurchase or not to repurchase the related Receivable or for monitoring whether or not
such repurchase occurs. 
 (b) If a Requesting Investor requests, or directs the Indenture Trustee to request, the repurchase of a
Receivable pursuant to clause (a) above, and the repurchase request has not been fulfilled or otherwise resolved to the reasonable satisfaction of such Requesting Investor, within 180 days of the receipt of notice of the request by NMAC
or the Seller, as applicable, the Requesting Investor may, or by written notice to the Indenture Trustee may direct the Indenture Trustee to, refer the matter to either mediation or arbitration pursuant to Section 10.13 of the Sale and
Servicing Agreement. 
 SECTION 7.08 Asset Review Voting.  

(a) If the Delinquency Percentage on any Distribution Date exceeds the Delinquency Trigger, then Noteholders (if the Notes are represented by
Definitive Notes) or Note Owners (if the Notes are represented by Book-Entry Notes) holding at least 5% of the Outstanding Amount as of the filing of the Form 10-D that disclosed that the Delinquency
Percentage exceed the Delinquency Trigger (the “Instituting Noteholders”) may elect to initiate a vote to determine whether the Asset Representations Reviewer should conduct an Asset Review by giving written notice to the Indenture
Trustee of their desire to institute such a vote within 90 days after the filing of the Form 10-D disclosing that the Delinquency Percentage exceeds the Delinquency Trigger. If any Instituting Noteholder
is not a Noteholder as reflected on the Note Register, the Indenture Trustee may require such Instituting Noteholder to provide Verification Documents to confirm that such Instituting Noteholder is, in fact, a Note Owner. If the Instituting
Noteholders initiate a vote as described in this clause (a), the Indenture Trustee shall submit the matter to a vote of all Noteholders, which shall be through the Clearing Agency if the Notes are represented by Book-Entry Notes. The
Indenture Trustee may set a Record Date for purposes of determining the identity of Noteholders or Note Owners, as applicable, entitled to vote in accordance with TIA Section 316(c). The vote will remain open until the 120th day after the filing of the Form 10-D disclosing that the Delinquency Percentage exceeds the Delinquency Trigger. The “Noteholder
Direction” shall be deemed to have occurred if Noteholders representing at least a majority of the voting Noteholders vote in favor of directing an Asset Review of the Subject Receivables by the Asset Representations
Reviewer. Following the completion of the voting process, the next Form 10-D filed by the Seller will disclose whether or not a Noteholder Direction has occurred. 

(b) Within 5 Business Days of the Review Satisfaction Date, the Indenture Trustee will send a Review Notice to NMAC, the Seller, the Servicer
and the Asset Representations Reviewer. 

  

					
		  	42	  	(NAROT 2019-B Indenture)

 (c) Notwithstanding clauses (a) and (b) of this
Section 7.08, an Investor (if the Notes are represented by Definitive Notes) or Note Owner (if the Notes are represented by Book-Entry Notes) need not direct that an Asset Review be performed prior to (i) notifying (or
directing the Indenture Trustee to notify) NMAC or the Seller, as applicable, of a breach of NMAC’s representations and warranties in Section 3.2(b) of the Purchase Agreement or the Seller’s representations and warranties in
Section 3.01 of the Sale and Servicing Agreement that would require NMAC or the Seller, as applicable, to repurchase a Receivable pursuant to Section 4.3 of the Purchase Agreement or Section 3.02 of the Sale and Servicing Agreement,
as applicable or (ii) referring the matter, at its discretion, to either mediation or arbitration pursuant to Section 10.13 of the Sale and Servicing Agreement. 

(d) For the avoidance of doubt, the Indenture Trustee shall not be required to (i) determine whether, or give notice to Noteholders that,
a Delinquency Trigger has occurred or (ii) determine which assets are subject to an Asset Review by the Asset Representations Reviewer. 

ARTICLE VIII 
 Accounts,
Disbursements and Releases 
 SECTION 8.01 Collection of Money. Except as otherwise expressly provided herein, the Indenture
Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee
pursuant to this Indenture. The Indenture Trustee shall apply all such money received by it as provided in this Indenture. Except as otherwise expressly provided in this Indenture, if any default occurs in the making of any payment or performance
under any agreement or instrument that is part of the Owner Trust Estate, the Indenture Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate Proceedings.
Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V. 

SECTION 8.02 Accounts. 

(a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee until
the Outstanding Amount of the Notes is zero, and thereafter, in the name of the Issuer, the Collection Account as provided in Section 5.01 of the Sale and Servicing Agreement. 

(b) On or prior to the Closing Date, the Issuer will cause the Servicer to establish and maintain in the name of the Indenture Trustee, until
the Outstanding Amount of the Notes is zero, the Reserve Account as provided in Section 5.01 of the Sale and Servicing Agreement. On or prior to the Closing Date, the Issuer shall cause to be deposited an amount equal to the Reserve Account
Initial Deposit into the Reserve Account. 

  

					
		  	43	  	(NAROT 2019-B Indenture)

 (c) The Indenture Trustee shall transfer all amounts remaining on deposit in the Collection
Account on the Distribution Date on which the Notes of all Classes have been paid in full (or substantially all of the Collateral is otherwise released from the lien of this Indenture) to the Designated Account and shall take all necessary or
appropriate actions to transfer all of its right, title and interest in the Collection Account, all funds or investments held therein and all proceeds thereof, whether or not on behalf of the Securityholders, to the Owner Trustee for the benefit of
the Certificateholders, subject to the limitations set forth herein with respect to amounts held for payment to Noteholders that do not promptly deliver a Note for payment on such Distribution Date. 

SECTION 8.03 General Provisions Regarding Accounts. 

(a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Accounts shall be
invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to the provisions of Section 5.01 of the Sale and Servicing Agreement. All income or other gain from investments of
moneys deposited in the Collection Account shall be deposited by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation on any Business Day on or after which such amount is deposited in the Collection
Account, and any loss resulting from such investments shall be charged to such account. Subject to the provisions of Section 5.07 of the Sale and Servicing Agreement, all income or other gain from investments of moneys deposited in the Reserve
Account shall be paid to the Servicer on any Business Day on or after which such amount is deposited in the Reserve Account, and any loss resulting from such investments shall be charged to such account. The Servicer will not direct the Indenture
Trustee, and the Issuer shall cause the Servicer not, to make any investment of any funds or to sell any investment held in the Accounts unless the security interest Granted and perfected in such account will continue to be perfected in such
investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer
shall deliver to the Indenture Trustee an Opinion of Counsel, reasonably acceptable to the Indenture Trustee, to such effect. 
 (b) Subject
to Section 6.01(c), the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in the Collection Account or the Reserve Account resulting from any loss on any Eligible Investment included
therein at the direction of the Servicer, except for losses attributable to the Indenture Trustee’s failure to make payments on such Eligible Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor and not
as trustee, in accordance with the terms thereof. 
 (c) If (i) the Servicer shall have failed to give investment directions for any
funds on deposit in the Collection Account or the Reserve Account to the Indenture Trustee by 5:00 p.m. Eastern Time (or such other time as may be agreed by the Servicer and Indenture Trustee) on any Business Day or (ii) a Default or Event of
Default shall have occurred and be continuing with respect to the Notes but the Notes shall not have been declared due and payable pursuant to Section 5.02 or (iii) if such Notes shall have been declared due and
payable following an Event of Default, amounts collected or receivable from the Owner Trust Estate are being applied in accordance with Section 5.05 as if there had not been such a declaration, then the Indenture Trustee
shall, to the fullest extent practicable, invest and reinvest funds in the Accounts in an Eligible Investment specified in an interest-bearing money market deposit account at U.S. Bank National Association. 

  

					
		  	44	  	(NAROT 2019-B Indenture)

 (d) Except as otherwise provided hereunder or agreed in writing among the parties hereto,
the Servicer shall retain the authority to institute, participate and join in any plan of reorganization, readjustment, merger or consolidation with respect to the issuer of any securities held hereunder, and, in general, to exercise each and every
other power or right with respect to each such asset or investment as individuals generally have and enjoy with respect to their own assets and investment, including power to vote upon any securities 

SECTION 8.04 Release of Owner Trust Estate. 

(a) Subject to the payment of its fees and expenses pursuant to Section 6.07, the Indenture Trustee may, and when
required by the provisions of this Indenture shall, execute instruments to release property from the lien of this Indenture, or convey the Indenture Trustee’s interest in the same, in a manner and under circumstances that are not inconsistent
with the provisions of this Indenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound to ascertain the Indenture Trustee’s authority, inquire into the satisfaction of any
conditions precedent or see to the application of any moneys. 
 (b) The Indenture Trustee shall, at such time as there are no Notes
outstanding and all sums due the Indenture Trustee pursuant to Section 6.07 (as certified by an authorized officer of the Issuer in the officer’s certificate delivered to the Trustee) have been paid, release any
remaining portion of the Owner Trust Estate that secured the Notes from the lien of this Indenture and release to or to the order of the Issuer, any funds entitled thereto then on deposit in the Collection Account and the Reserve Account. The
Indenture Trustee shall release property from the lien of this Indenture pursuant to this Section 8.04(b) only upon receipt of an Officer’s Certificate and (if required by the TIA) Independent Certificates in
accordance with TIA Sections 314(c) and 314(d)(1) meeting the applicable requirements of Section 11.01. 
 SECTION
8.05 Release of Receivables Upon Purchase by the Seller or the Servicer. 
 (a) Upon repurchase of any Receivable by the Seller
pursuant to Section 3.02 of the Sale and Servicing Agreement or any purchase of any Receivable by the Servicer pursuant to Section 4.06 or Section 9.01 of the Sale and Servicing Agreement, the Indenture Trustee, on behalf of the
Noteholders, shall, without further action, be deemed to release from the Lien of this Indenture such repurchased Receivable, all monies due or to become due with respect thereto and all proceeds thereof and the other property with respect to such
Receivable, and all security and any documents relating thereto, and the Seller or the Servicer, as applicable, shall thereupon own each such Receivable, and all such related security and documents, free of any further obligation to the Issuer, the
Indenture Trustee or the Noteholders with respect thereto. 
 (b) The Indenture Trustee shall execute such documents and instruments and
take such other actions as shall be reasonably requested by the Seller or the Servicer, as the case may be, to effect the release of such Receivable pursuant hereto and the assignment of such Receivable by the Issuer pursuant to Section 9.02 of
the Sale and Servicing Agreement. 

  

					
		  	45	  	(NAROT 2019-B Indenture)

 SECTION 8.06 Opinion of Counsel. The Indenture Trustee shall receive at least seven
days’ notice when requested by the Issuer to take any action pursuant to Section 8.04(a) (provided that the Indenture Trustee in its discretion may waive such notice), accompanied by copies of any instruments involved,
and the Indenture Trustee may also require (and shall require, to extent required by the TIA), except in connection with any action contemplated by Section 8.04(b), as a condition to such action, an Opinion of Counsel, in
form and substance satisfactory to the Indenture Trustee, stating the legal effect of any such action, outlining the steps required to complete the same, and concluding that all conditions precedent to the taking of such action have been complied
with and such action will not materially and adversely impair the security for the Notes or the rights of the Noteholders in contravention of the provisions of this Indenture; provided, however, that such Opinion of Counsel shall not be required to
express an opinion as to the fair value of the Owner Trust Estate. Counsel rendering any such opinion may rely, without independent investigation, on the accuracy and validity of any certificate or other instrument delivered to the Indenture Trustee
in connection with any such action. 
 ARTICLE IX 

Supplemental Indentures 

SECTION 9.01 Supplemental Indentures Without Consent of Noteholders. 

(a) Without the consent of the Holders of any Notes or any Certificates and with prior written notice by the Issuer to the Administrator (and
the Administrator will provide notice thereof to each Rating Agency pursuant to Section 1(d) of the Administration Agreement), the Issuer and the Indenture Trustee, when authorized by an Issuer Order, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory to the Indenture Trustee, for any of the following purposes: 

(1) to correct or amplify the description of any property at any time subject to the lien of this Indenture, or to better assure, convey and
confirm unto the Indenture Trustee any property subject or required to be subjected to the lien of this Indenture, or to subject to the lien of this Indenture additional property; 

(2) to evidence the succession, in compliance with the applicable provisions hereof, of another person to the Issuer, and the assumption by
any such successor of the covenants of the Issuer contained herein and in the Notes; 
 (3) to add to the covenants of the Issuer, for the
benefit of the Holders of the Notes, or to surrender any right or power herein conferred upon the Issuer; 
 (4) to convey, transfer,
assign, mortgage or pledge any property to or with the Indenture Trustee; 
 (5) to cure any ambiguity, to correct or supplement any
provision herein or in any supplemental indenture that may be inconsistent with any other provision herein or in any supplemental indenture or to make any other provisions with respect to matters or questions arising under this Indenture or in any
supplemental indenture to the extent such action shall not adversely affect the interests of the Holders of the Notes; 
 (6) to evidence
and provide for the acceptance of the appointment hereunder by a successor trustee with respect to the Notes and to add to or change any of the provisions of this Indenture as shall be necessary to facilitate the administration of the trusts
hereunder by more than one trustee, pursuant to the requirements of Article VI; or 

  

					
		  	46	  	(NAROT 2019-B Indenture)

 (7) to modify, eliminate or add to the provisions of this Indenture to such extent as shall
be necessary to effect the qualification of this Indenture under the TIA or under any similar federal statute hereafter enacted and to add to this Indenture such other provisions as may be expressly required by the TIA. 

The Indenture Trustee is hereby authorized to join in the execution of any such supplemental indenture and to make any further appropriate
agreements and stipulations that may be therein contained. 
 (b) The Issuer and the Indenture Trustee, when authorized by an Issuer Order,
without the consent of any Noteholder or any other Person, may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture
or of modifying in any manner the rights of the Holders of the Notes under this Indenture subject to the satisfaction of one of the following conditions: (i) the Issuer delivers an Officer’s Certificate or Opinion of Counsel to the
Indenture Trustee to the effect that such supplemental indenture will not materially and adversely affect the interests of the Noteholders; or (ii) the Rating Agency Condition is satisfied with respect to such supplemental indenture;
provided, however, that in the event that any Certificates are then held by anyone other than the Administrator or any of its Affiliates, this Indenture may only be amended by the Issuer and the Indenture Trustee if, in addition,
(i) the Holders of the Certificates evidencing a majority of the Certificate Balance consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Administrator or an Opinion of Counsel
delivered to the Owner Trustee, materially and adversely affect the interests of the Certificateholders. It will not be necessary to obtain the consent of the Certificateholders to approve the particular form of any proposed amendment or consent,
but it will be sufficient if such consent approves the substance thereof. 
 SECTION 9.02 Supplemental Indentures with Consent of
Noteholders. Subject to subsection (b) of Section 9.01, the Issuer and the Indenture Trustee, when authorized by an Issuer Order, also may, with prior written notice by the Issuer to the Administrator (and
the Administrator will provide notice thereof to each Rating Agency pursuant to Section 1(d) of the Administration Agreement) and with the consent of the Holders of a majority of the Outstanding Amount of the Notes, voting as a single class by
Action of such Holders delivered to the Issuer and the Indenture Trustee, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this
Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided, however, that no such supplemental indenture entered into in accordance with this Section 9.02
shall, without the consent of the Holder of each Outstanding Note affected thereby: 
 (1) change the due date of any installment of
principal of or interest on any Note, or reduce the principal amount thereof, the Interest Rate thereon or redemption price therefor, or change any place of payment where, or the coin or currency in which, any Note or the interest thereon is
payable; 

  

					
		  	47	  	(NAROT 2019-B Indenture)

 (2) impair the right to institute suit for the enforcement of the provisions of this
Indenture requiring the application of funds available therefor, as provided in Article V, to the payment of any such amount due on the Notes on or after the respective due dates thereof; 

(3) reduce the percentage of the Outstanding Amount of the Notes, the consent of the Holders of which is required for any such supplemental
indenture, or the consent of the Holders of which is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences provided for in this Indenture; 

(4) modify or alter the provisions of the proviso to the definition of the term “Outstanding”; 

(5) reduce the percentage of the Outstanding Amount of the Notes required to direct the Indenture Trustee to sell or liquidate the Owner
Trust Estate if the proceeds of that sale would be insufficient to pay the principal amount of and accrued but unpaid interest on the Notes pursuant to Section 5.04(d)(4); 

(6) reduce any percentage required to amend the sections of the Indenture that specify the applicable percentage of Outstanding Amount of the
Notes necessary to amend the Indenture; or 
 (7) permit the creation of any lien ranking prior to or on a parity with the lien of this
Indenture with respect to any part of the Owner Trust Estate or, except as otherwise permitted or contemplated herein, terminate the lien of this Indenture on any property at any time subject hereto or deprive the Holder of any Note of the security
provided by the lien of this Indenture. 
 The Indenture Trustee may in its discretion determine whether or not any Notes would be adversely
affected by any supplemental indenture and any such determination shall be conclusive upon the Holders of all Notes, whether theretofore or thereafter authenticated and delivered hereunder. The Indenture Trustee shall not be liable for any such
determination made in good faith. 
 Promptly after the execution by the Issuer and the Indenture Trustee of any supplemental indenture
pursuant to this Section, the Indenture Trustee shall mail to the Holders of the Notes and to the Certificateholders to which such amendment or supplemental indenture relates a notice setting forth in general terms the substance of such supplemental
indenture. Any failure of the Indenture Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

SECTION 9.03 Execution of Supplemental Indentures. In executing, or permitting the additional trusts created by, any supplemental
indenture permitted by this Article IX or the modification thereby of the trusts created by this Indenture, the Indenture Trustee and the Owner Trustee shall be entitled to receive upon request therefor and (in the case of the case of the Indenture
Trustee, subject to Sections 6.01 and 6.02) shall be fully protected in relying upon, an Opinion of Counsel from external counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture.
No amendment or modification of this 

  

					
		  	48	  	(NAROT 2019-B Indenture)

 Indenture which adversely affects the Owner Trustee shall be effective without its prior written consent.
The Indenture Trustee and the Owner Trustee may, but shall not be obligated to, enter into any such supplemental indenture that affects the Indenture Trustee’s or the Owner Trustee’s, as applicable, own rights, duties, liabilities or
immunities under this Indenture or otherwise. 
 SECTION 9.04 Effect of Supplemental Indenture. Upon the execution of any
supplemental indenture pursuant to the provisions hereof, this Indenture shall be deemed to be modified and amended in accordance therewith with respect to the Notes, and the respective rights, limitations of rights, obligations, duties, liabilities
and immunities under this Indenture of the Indenture Trustee, the Issuer and the Holders of the Notes shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms
and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

SECTION 9.05 Conformity with Trust Indenture Act. Every amendment of this Indenture and every supplemental indenture executed pursuant
to this Article IX shall conform to the requirements of the Trust Indenture Act as then in effect so long as this Indenture shall then be qualified under the Trust Indenture Act. 

SECTION 9.06 Reference in Notes to Supplemental Indentures. Notes authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article IX may, and if required by the Indenture Trustee shall, bear a notation in form approved by the Indenture Trustee as to any matter provided for in such supplemental indenture. If the Issuer or the Indenture Trustee
shall so determine, new Notes so modified as to conform, in the opinion of the Indenture Trustee and the Issuer, to any such supplemental indenture may be prepared and executed by the Issuer and authenticated and delivered by the Indenture Trustee
in exchange for Outstanding Notes. 
 ARTICLE X 

Redemption of Notes 

SECTION 10.01 Optional Purchase of All Receivables. If NMAC, as Servicer, shall notify the Owner Trustee and the Indenture Trustee of
its intention to exercise the option granted to it in Section 9.01 of the Sale and Servicing Agreement to purchase the Collateral (other than the Reserve Account), then the Indenture Trustee shall give written notice thereof to each Noteholder,
in accordance with Section 10.02, as soon as practicable after their receipt of notice from the Servicer. Upon deposit by the Servicer or any successor to the Servicer of the amount necessary to effect such purchase of the
Collateral (other than the Reserve Account), the Indenture Trustee shall make the final distributions to the Noteholders and the other distributions as set forth in Section 5.06 of the Sale and Servicing Agreement and shall promptly transfer
all of its right, title and interest in and to any amounts or investments remaining on deposit in the Accounts to the Owner Trustee (in any event excluding any portion thereof necessary to make distributions to Noteholders described in
Section 3.03), and release from the lien of this Indenture all of the remaining Collateral in accordance with Sections 8.04 and 8.05. The Indenture Trustee shall execute, deliver and file all agreements,
certificates, instruments or other documents necessary or reasonably requested by the Issuer in order to effect such release and the transfer to the Issuer of the Collateral. 

  

					
		  	49	  	(NAROT 2019-B Indenture)

 SECTION 10.02 Form of Redemption Notice. Notice of redemption under
Section 10.01 shall be given by the Indenture Trustee by first-class mail, postage prepaid, mailed to each Holder of Notes as of the close of business on the Record Date of the month preceding the month of the applicable
Redemption Date at such Holder’s address appearing in the Note Register. In addition, the Administrator shall notify each Rating Agency upon the redemption of the Notes, pursuant to the Administration Agreement. 

All notices of redemption shall state: 

(a) the Redemption Date; 
 (b)
the Redemption Price; 
 (c) the place where the Notes to be redeemed are to be surrendered for payment of the Redemption Price (which shall
be the office or agency of the Issuer to be maintained as provided in Section 3.02); and 
 (d) that on the
Redemption Date, the Redemption Price will become due and payable upon each such Note and that interest thereon shall cease to accrue from and after the Redemption Date. 

Notice of redemption of the Notes shall be given by the Indenture Trustee in the name and at the expense of the Issuer. In addition, the
Issuer shall notify the Owner Trustee upon redemption of the Notes. Failure to give notice of redemption (or any defect therein) to any Noteholder shall not impair or affect the validity of the redemption of any other Note. 

SECTION 10.03 Notes Payable on Redemption Date. The Notes to be redeemed shall, following notice of redemption as required by
Section 10.02, become due and payable on the Redemption Date at the Redemption Price and (unless the Issuer shall default in the payment of the Redemption Price) no interest shall accrue on the Redemption Price for any
period after the date to which accrued interest is calculated for purposes of calculating the Redemption Price. 
 ARTICLE XI 

Miscellaneous 
 SECTION
11.01 Compliance Certificates and Opinions, etc. 
 (a) Upon any application or request by the Issuer to the Indenture Trustee to
take any action under any provision of this Indenture, the Issuer shall, upon written request therefor from the Indenture Trustee, furnish to the Indenture Trustee (i) an Officer’s Certificate stating that all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with, (ii) an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, and (iii) (if
required by the TIA) an Independent Certificate from a firm of certified public accountants meeting the applicable requirements of this Section, except that, in the case of any such application or request as to which the furnishing of such documents
is specifically required by any provision of this Indenture, no such written request from the Indenture Trustee need be furnished (and only such expressly required documents need be delivered in connection therewith). 

  

					
		  	50	  	(NAROT 2019-B Indenture)

 (b) Every certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture shall include: 
 (1) a statement that each signatory of such certificate or opinion has read or has caused
to be read such covenant or condition and the definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of
the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a
statement that, in the opinion of each such signatory, such signatory has made such examination or investigation as is necessary to enable such signatory to express an informed opinion as to whether or not such covenant or condition has been
complied with; and 
 (4) a statement as to whether, in the opinion of each such signatory, such condition or covenant has been complied
with. 
 (c) Prior to the deposit of any Collateral or other property or securities with the Indenture Trustee that is to be made the basis
for the release of any property or securities subject to the lien of this Indenture, the Issuer shall, in addition to any obligation imposed in Section 11.01(a) or elsewhere in this Indenture, furnish to the Indenture
Trustee (if so requested by the Indenture Trustee or required by the TIA) an Officer’s Certificate certifying or stating the opinion of each person signing such certificate as to the fair value (within 90 days of such deposit) to the Issuer of
the Collateral or other property or securities to be so deposited. 
 Whenever the Issuer would be required to furnish to the Indenture
Trustee an Officer’s Certificate certifying or stating the opinion of any signatory thereof as to the matters described in this clause (c) if such an Officer’s Certificate had been requested by the Indenture Trustee or required by the
TIA, regardless of whether such an Officer’s Certificate was so requested or required, the Issuer shall deliver to the Indenture Trustee an Independent Certificate as to the same matters, if the fair value to the Issuer of the securities to be
so deposited and of all other such securities made the basis of any such withdrawal or release since the commencement of the then-current calendar year of the Issuer, as set forth in the certificates delivered pursuant to clause (c), is 10% or more
of the Outstanding Amount of the Notes, but such a certificate need not be furnished with respect to any securities so deposited, if the fair value thereof to the Issuer as set forth in the related Officer’s Certificate is less than $25,000 or
less than one percent of the Outstanding Amount of the Notes. 
 Whenever any property or securities are to be released from the lien of
this Indenture, the Issuer shall also furnish to the Indenture Trustee an Officer’s Certificate certifying or stating the opinion of each person signing such certificate as to the fair value (within 90 days of such release) of the property or
securities proposed to be released and stating that in the opinion of such person the proposed release will not impair the security under this Indenture in contravention of the provisions hereof. 

  

					
		  	51	  	(NAROT 2019-B Indenture)

 Notwithstanding Section 2.09 or any other provision of this
Section, the Issuer may, without compliance with the requirements of the other provisions of this Section, (i) collect, liquidate, sell or otherwise dispose of Receivables and Financed Vehicles as and to the extent permitted or required by the
Basic Documents, and (ii) make cash payments out of the Accounts as and to the extent permitted or required by the Basic Documents. 

SECTION 11.02 Form of Documents Delivered to Indenture Trustee. In any case where several matters are required to be certified by, or
covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may
certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an Authorized Officer of the Issuer may be based, insofar as it relates to legal matters, upon a certificate or
opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which such officer’s certificate or
opinion is based are erroneous. Any such certificate of an Authorized Officer or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the
Servicer, the Seller, the Issuer or the Administrator, stating that the information with respect to such factual matters is in the possession of the Servicer, the Seller, the Issuer or the Administrator, unless such counsel knows, or in the exercise
of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 Where any
Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Whenever in this Indenture, in connection with any application or certificate or report to the Indenture Trustee, it is provided that the
Issuer shall deliver any document as a condition of the granting of such application, or as evidence of the Issuer’s compliance with any term hereof, it is intended that the truth and accuracy, at the time of the granting of such application or
at the effective date of such certificate or report (as the case may be), of the facts and opinions stated in such document shall in such case be conditions precedent to the right of the Issuer to have such application granted or to the sufficiency
of such certificate or report. The foregoing shall not, however, be construed to affect the Indenture Trustee’s right to rely upon the truth and accuracy of any statement or opinion contained in any such document as provided in Article VI. 

  

					
		  	52	  	(NAROT 2019-B Indenture)

 SECTION 11.03 Acts of Noteholders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Noteholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Noteholders in person or by agents duly appointed in writing; and except as herein otherwise expressly provided such action shall
become effective when such instrument or instruments are delivered to the Indenture Trustee, and, where it is hereby expressly required, to the Issuer. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the “Action” of the Noteholders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and
(subject to Section 6.01) conclusive in favor of the Indenture Trustee and the Issuer, if made in the manner provided in this Section. 

(b) The fact and date of the execution by any person of any such instrument or writing may be proved in any manner that the Indenture Trustee
deems sufficient. 
 (c) The ownership of Notes shall be proved by the Note Register. 

(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Notes shall bind the Holder of
every Note issued upon the registration thereof or in exchange therefor or in lieu thereof, in respect of anything done, omitted or suffered to be done by the Indenture Trustee or the Issuer in reliance thereon, whether or not notation of such
action is made upon such Note. 
 SECTION 11.04 Notices to Indenture Trustee, Issuer and Rating Agencies. Any request, demand,
authorization, direction, notice, consent, waiver or Action of Noteholders or other documents provided or permitted by this Indenture shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail,
postage prepaid, hand delivery, prepaid courier service, by telecopier or electronically by email (if an email address is provided) and if such request, demand, authorization, direction, notice, consent, waiver or Action of Noteholders is to be made
upon, given or furnished to or filed with (a) the Issuer, to Nissan Auto Receivables 2019-B Owner Trust, c/o Wilmington Trust, National Association, Rodney Square North, 1100 North Market Street,
Wilmington, Delaware 19890, Attention: Nissan Auto Receivables 2019-B Owner Trust, with a copy to Nissan Motor Acceptance Corporation, One Nissan Way, Franklin, Tennessee 37067 (telecopier no. (615) 725-8530) (email: doug.gwin@nissan-usa.com), Attention: Treasurer, or at such other address as shall be designated by written notice to the Indenture Trustee, and (b) the
Indenture Trustee, to U.S. Bank National Association, 190 South LaSalle Street, 7th Floor, Chicago, IL 60603 (telecopier no. (312) 332-7493) (email: brian.kozack@usbank.com), Attention: NAROT 2019-B. 
 Notices required to be given to the Rating Agencies hereunder shall be in writing, personally delivered or
mailed by certified mail, return receipt requested, to: (i) in the case of Moody’s, at the following address: Moody’s Investor Service, ABS Monitoring Department, 7 World Trade Center, 250 Greenwich Street, New York, New York 10007
(telecopier no. (212) 553-7820) (email: ServicerReports@Moodys.com), and (ii) in the case of Fitch, at the following address: Fitch Ratings, Inc., 33 Whitehall Street, New York, New York 10004 (email: surveillance-abs-auto@fitchratings.com), or as to each of the foregoing, at such other address as shall be designated by written notice to the other parties; provided,
however, that all notices, requests, reports, consents or other communications deliverable to any Rating Agency hereunder or under any other Basic Document shall be deemed to be delivered if a copy of such notice, request, report, consent or other
communication has been posted on any website maintained by or on behalf of NMAC pursuant to a commitment to any Rating Agency relating to the Notes in accordance with 17 C.F.R. 240 17g-5(a)(3). 

  

					
		  	53	  	(NAROT 2019-B Indenture)

 SECTION 11.05 Notices to Noteholders; Waiver. Where this Indenture provides for
notice to Noteholders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class, postage prepaid to each Noteholder affected by such event, at his address as it appears
on the Note Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Noteholders is given by mail, neither the failure to mail such notice nor any defect
in any notice so mailed to any particular Noteholder shall affect the sufficiency of such notice with respect to other Noteholders, and any notice that is mailed in the manner herein provided shall conclusively be presumed to have been duly given.

 Where this Indenture provides for notice in any manner, such notice may be waived in writing by any Person entitled to receive such
notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Noteholders shall be filed with the Indenture Trustee but such filing shall not be a condition precedent to the validity of any
action taken in reliance upon such a waiver. 
 In case, by reason of the suspension of regular mail service as a result of a strike, work
stoppage or similar activity, it shall be impractical to mail notice of any event to Noteholders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to
the Indenture Trustee shall be deemed to be a sufficient giving of such notice. 
 Where this Indenture provides for notice to the Rating
Agencies, failure to give such notice shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute a Default or Event of Default. 

SECTION 11.06 Alternate Payment and Notice Provisions. Notwithstanding any provision of this Indenture or any of the Notes to the
contrary, the Issuer may enter into any agreement with any Holder of a Note providing for a method of payment, or notice by the Indenture Trustee or any Paying Agent to such Holder, that is different from the methods provided for in this Indenture
for such payments or notices. The Issuer will furnish to the Indenture Trustee a copy of each such agreement and the Indenture Trustee will cause payments to be made and notices to be given in accordance with such agreements. 

SECTION 11.07 Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another provision hereof
that is required to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. 

The provisions of TIA Sections 310 through 317 that impose duties on any person (including the provisions automatically deemed included herein
unless expressly excluded by this Indenture) are a part of and govern this Indenture, whether or not physically contained herein. 

  

					
		  	54	  	(NAROT 2019-B Indenture)

 SECTION 11.08 Effect of Headings and Table of Contents. The Article and Section
headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 SECTION 11.09
Successors and Assigns. All covenants and agreements in this Indenture and the Notes by the Issuer shall bind its successors and assigns, whether so expressed or not. All agreements of the Indenture Trustee in this Indenture shall bind its
successors, co-trustees and agents. 
 SECTION 11.10 Severability. If any one or more of the
covenants, agreements, provisions or terms of this Indenture shall be for any reason whatsoever held invalid or unenforceable in any jurisdiction, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Indenture and shall in no way affect the validity or enforceability of the other provisions of this Indenture or of the Notes or the Certificates or the rights of the Holders thereof. 

SECTION 11.11 Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other
than the parties hereto, the Owner Trustee and their successors hereunder, the Noteholders, any other party secured hereunder and any other Person with an ownership interest in any part of the Owner Trust Estate, any benefit or any legal or
equitable right, remedy or claim under this Indenture. 
 SECTION 11.12 Governing Law. THIS INDENTURE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 SECTION 11.13
Counterparts. This Indenture may be executed simultaneously in any number of counterparts, each of which shall be deemed to be an original, and all of which shall constitute but one and the same instrument. 

SECTION 11.14 Recording of Indenture. If this Indenture is subject to recording in any appropriate public recording offices, such
recording is to be effected by the Issuer and at its expense accompanied by an Opinion of Counsel (which may be counsel to the Indenture Trustee or any other counsel reasonably acceptable to the Indenture Trustee) to the effect that such recording
is necessary either for the protection of the Noteholders or any other Person secured hereunder or for the enforcement of any right or remedy granted to the Indenture Trustee under this Indenture. 

SECTION 11.15 Trust Obligation. No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the
Owner Trustee or the Indenture Trustee on the Notes or Certificates or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against (i) the Indenture Trustee or the Owner Trustee in its
individual capacity, (ii) the Seller, any Certificateholder or other owner of a beneficial interest in 

  

					
		  	55	  	(NAROT 2019-B Indenture)

 the Issuer, (iii) NMAC or (iv) any partner, owner, beneficiary, agent, officer, director, employee
or agent of the Indenture Trustee or the Owner Trustee in its individual capacity, any Certificateholder or other owner of a beneficial interest in the Issuer, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture
Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that
any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all
purposes of this Indenture, in the performance of any duties or obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

 SECTION 11.16 No Petition. The Indenture Trustee, by entering into this Indenture, and each Noteholder, by accepting a Note,
hereby covenant and agree that they shall not, prior to the date which is one year and one day after the payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party,
acquiesce, petition or otherwise invoke or cause such Bankruptcy Remote Party to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against such Bankruptcy Remote Party under any federal or
state bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of such Bankruptcy Remote Party or any substantial part of its property, or ordering the winding
up or liquidation of the affairs of such Bankruptcy Remote Party. 
 SECTION 11.17 Inspection. The Issuer agrees that, on reasonable
prior notice, it will permit any representative of the Indenture Trustee, during the Issuer’s normal business hours, to examine all the books of account, records, reports and other papers of the Issuer, to make copies and extracts therefrom, to
cause (at the expense of the requesting party) such books to be audited by Independent certified public accountants, and to discuss the Issuer’s affairs, finances and accounts with the Issuer’s officers, employees, and Independent
certified public accountants, all at such reasonable times and as often as may be reasonably requested. The Indenture Trustee shall and shall cause its representatives to hold in confidence all such information except to the extent disclosure may be
required by law (and all reasonable applications for confidential treatment are unavailing) and except to the extent that the Indenture Trustee may reasonably determine that such disclosure is consistent with its obligations hereunder. 

[The remainder of this page intentionally left blank] 

  

					
		  	56	  	(NAROT 2019-B Indenture)

 IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this Indenture to be
duly executed by their respective officers, thereunto duly authorized and duly attested, all as of the day and year first above written. 
  

					
	NISSAN AUTO RECEIVABLES 2019-B OWNER TRUST
		
	By: 	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee

 
					
			
	       	 	By: 	 	 

 
					
	       	 	Name:	 	

 
					
	       	 	Title:	 	

  

			
	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee

 
			
		
	By: 	 	 

 
			
	Name:	 	

 
			
	Title:	 	

  

					
		  	S-1	  	(NAROT 2019-B Indenture)

 EXHIBIT A 

FORM OF CLASS [A-1] [A-2]
[A-3] [A-4] NOTE 
 [UNLESS THIS NOTE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1 

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
 THIS NOTE IS NOT AN OBLIGATION OF, AND WILL NOT BE INSURED OR GUARANTEED BY,
ANY GOVERNMENTAL AGENCY OR NISSAN AUTO RECEIVABLES CORPORATION II, NISSAN MOTOR ACCEPTANCE CORPORATION, NISSAN NORTH AMERICA, INC., NISSAN MOTOR CO., LTD., ANY TRUSTEE OR ANY OF THEIR AFFILIATES. THE PRINCIPAL AND INTEREST ON THIS NOTE IS PAYABLE
SOLELY FROM PAYMENTS ON THE RECEIVABLES AND AMOUNTS ON DEPOSIT IN THE RESERVE ACCOUNT. 
 EACH PURCHASER AND TRANSFEREE (AND IF THE
PURCHASER OR TRANSFEREE IS ANY TYPE OF EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, ITS FIDUCIARY) OF THIS NOTE (OR ANY INTEREST HEREIN) WILL BE DEEMED TO (A) REPRESENT, WARRANT AND COVENANT THAT EITHER (I) IT IS NOT, AND IS NOT ACQUIRING OR
HOLDING THE NOTE (OR ANY INTEREST HEREIN) FOR, ON BEHALF OF OR WITH THE ASSETS OF AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), WHICH IS
SUBJECT TO TITLE I OF ERISA, A “PLAN” DESCRIBED IN AND SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF AN
EMPLOYEE BENEFIT PLAN’S OR A PLAN’S INVESTMENT IN THE ENTITY (EACH, A “BENEFIT PLAN”), OR ANY OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, THAT IS SUBJECT TO A LAW THAT IS SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED
TRANSACTION PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”) OR (II) THE ACQUISITION, HOLDING AND DISPOSITION OF THE NOTE (OR ANY INTEREST HEREIN) DOES NOT AND WILL NOT GIVE RISE TO A
NON-EXEMPT 
  

	1 	 For Book-Entry Notes only. 

  

					
		  		  	(NAROT 2019-B Indenture)

 PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA, SECTION 4975 OF THE CODE OR A VIOLATION OF ANY SIMILAR
LAW AND (B) ACKNOWLEDGE AND AGREE THAT THE NOTES ARE NOT ELIGIBLE FOR PURCHASE BY BENEFIT PLANS OR ANY OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT THAT IS SUBJECT TO SIMILAR LAW AT ANY TIME THAT THE RATINGS ON THE NOTES ARE BELOW INVESTMENT
GRADE OR THE NOTES HAVE BEEN CHARACTERIZED AS OTHER THAN INDEBTEDNESS FOR APPLICABLE LOCAL LAW PURPOSES. 
 [THIS NOTE HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE RESOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS, PURSUANT TO AN EXEMPTION THEREFROM OR IN A TRANSACTION NOT SUBJECT THERETO.] 

  

					
		  		  	(NAROT 2019-B Indenture)

 NISSAN AUTO RECEIVABLES 2019-B OWNER TRUST 

[____]% ASSET BACKED NOTES, 
 CLASS [A-1] [A-2] [A-3] [A-4] 

 

					
	 No. R-___
	 	 
 
 
	$_________
 CUSIP NO._________

ISIN No. ____________
	 
  
  

 Nissan Auto Receivables 2019-B Owner Trust, a statutory trust
organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to ____________________, or registered assigns, the principal sum of _______________ DOLLARS
($__________) payable on each Distribution Date in an aggregate amount, if any, payable from the Collection Account in respect of the principal on the Class [A-1] [A-2] [A-3] [A-4] Notes pursuant to Section 3.01 of the Indenture dated as of May 28, 2019 (the “Indenture”), between the Issuer and U.S. Bank National
Association, as Indenture Trustee (the “Indenture Trustee”) and Sections 5.06(a), (b) and (c) of the Sale and Servicing Agreement dated as of May 28, 2019 (the “Sale and Servicing Agreement”), among the Issuer, NARC II,
as Seller, NMAC, as Servicer, and the Indenture Trustee (which amounts shall be limited to the portion of Available Amounts specified in such sections); provided, however, that the entire unpaid principal amount of this Note shall be
due and payable on the Distribution Date occurring on ____________________ (the “Class [A-1] [A-2] [A-3] [A-4] Final Scheduled Distribution Date”). Capitalized terms used but not defined herein have the meanings ascribed thereto in the Indenture and the Sale and Servicing Agreement, as the case may be. 

The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid
or made available for payment, on the principal amount of this Note outstanding on the preceding Distribution Date (after giving effect to all payments of principal made on the preceding Distribution Date), subject to certain limitations contained
in Section 3.01 of the Indenture. Interest on this Note will accrue for each Distribution Date, (for the Class A-1 Notes) during the period from (and including) the Distribution Date during the
calendar month preceding such Distribution Date (or in the case of the first Distribution Date, or if no interest has yet been paid, from (and including) the Closing Date) to (but excluding) such Distribution Date (for the Class A-2 Notes, Class A-3 Notes and Class A-4 Notes) during the period from (and including) the 15th day of the
preceding calendar month (or in the case of the first Distribution Date, or if no interest has yet been paid, from (and including) the Closing Date) to (but excluding) the 15th day of the month in which such Distribution Date occurs. Interest will
be computed on the basis specified in the Indenture for each Interest Period. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. 

  

					
		  		  	(NAROT 2019-B Indenture)

 Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has
been executed by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof or be valid or obligatory for any purpose. 

  

					
		  		  	(NAROT 2019-B Indenture)

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in
facsimile, by its Authorized Officer, as of the date set forth below. 
 Date: ________________ 

 

					
	 NISSAN AUTO RECEIVABLES 2019-B

OWNER TRUST

		
	By:	 	 WILMINGTON TRUST, NATIONAL

ASSOCIATION, not in its individual capacity but solely as Owner Trustee under the Trust Agreement

			
		 	By:	 	 
		 		 	Name:
		 		 	Title:

  

					
		  		  	(NAROT 2019-B Indenture)

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

Date: _____________ 
  

			
	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee
		
	By:	 	 
		 	Name:
		 	Title:

  

					
		  		  	(NAROT 2019-B Indenture)

 REVERSE OF NOTE 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as [____]% Asset Backed Notes, Class [A-1] [A-2] [A-3] [A-4] (herein called the “Class
[A-1] [A-2] [A-3] [A-4] Notes”), all issued under the Indenture, to which Indentures
and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Holders of the Notes. The Class
[A-1] [A-2] [A-3] [A-4] Notes are subject to all terms of the Indenture. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes, (collectively, the “Notes”) are and, except as otherwise provided in the Indenture and the Sale and Servicing
Agreement, will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. 
 Principal of
the Class [A-1] [A-2] [A-3] [A-4] Notes will be payable on each Distribution Date in an
amount described in the Indenture. “Distribution Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing June 17, 2019. 

Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of
Default shall have occurred and be continuing and the Indenture Trustee or the Holders of a majority of the Outstanding Amount of the Notes, voting as a single class, have declared the Notes to be immediately due and payable in the manner provided
in Section 5.02 of the Indenture or following the exercise by the Servicer of its option to purchase the Receivables pursuant to Section 9.01 of the Sale and Servicing Agreement and Section 10.01 of the Indenture. In case of an
unrescinded acceleration upon an Event of Default, all payments of interest and principal will be made to the Noteholders as set forth in Section 5.06(c) of the Sale and Servicing Agreement. In case of the optional purchase of the Receivables,
all interest and all principal payments on the Class [A-1] [A-2] [A-3] [A-4] Notes shall
be made pro rata to the Class [A-1] [A-2] [A-3] [A-4] Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be paid to the Person in whose name of such Note (or one or more Predecessor Notes) is registered on the Record Date by wire transfer in immediately available funds to the account designated by such nominee,
except for the final installment of principal payable with respect to such Note on a Distribution Date or on the applicable Final Scheduled Distribution Date, which shall be payable as provided below. Any reduction in the principal amount of this
Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu
hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Indenture Trustee, in the name
of and on behalf of the Issuer, will notify the Person who was the Registered Holder hereof as of the Record Date preceding such Distribution Date by notice mailed or transmitted by facsimile prior to such Distribution Date, and the amount then due
and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in St. Paul,
Minnesota. 

  

					
		  		  	(NAROT 2019-B Indenture)

 The Issuer shall pay interest on overdue installments of interest at the Class [A-1] [A-2] [A-3] [A-4] Interest Rate to the extent lawful. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Indenture
Trustee as set forth in Section 2.04 of the Indenture, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will
be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer
or exchange. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note,
covenants and agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered
in connection therewith, against (i) the Indenture Trustee or the Owner Trustee in its individual capacity, (ii) the Seller or any owner of a beneficial interest in the Issuer, (iii) NMAC or (iv) any partner, owner, beneficiary,
agent, officer, director or employee of the Indenture Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Owner Trustee or the Indenture Trustee or of any successor or assign of the
Indenture Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacity) and
except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity.

 The Holder of this Note by its acceptance hereof agrees that, except as expressly provided in the Basic Documents, in the case of an
Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement
against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees
by accepting the benefits of the Indenture that such Noteholder or Note Owner will not at any time file, join in the filing of, or cooperate with or encourage others to file against a Bankruptcy Remote Party, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or the Basic Documents. 

  

					
		  		  	(NAROT 2019-B Indenture)

 The Issuer has entered into the Indenture and this Note is issued with the intention that,
for federal, state and local income, single business and franchise tax purposes, the Notes (other than the Retained Notes, if any) will qualify as indebtedness of the Issuer secured by the Owner Trust Estate. Each Noteholder, by acceptance of a Note
(and each Note Owner by acceptance of a beneficial interest in a Note), agrees to treat the Notes (other than the Retained Notes, if any) for federal, state and local income, single business and franchise tax purposes as indebtedness of the Issuer.

 Prior to the due presentment for registration of transfer of this Note, the Issuer, the Indenture Trustee and any agent of the Issuer or
the Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be
overdue, and none of the Issuer, the Indenture Trustee or any such agent shall be affected by notice to the contrary. 
 The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer and the Indenture
Trustee, when authorized by an Issuer Order, with prior notice to the Rating Agencies and with the consent of the Holders of a majority of the Outstanding Amount of the Notes, voting as a single class. Section 5.12 of the Indenture also
contains provisions permitting the Holders of a majority of the Outstanding Amount of the Notes, voting as a single class, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one or more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive
certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
 The term
“Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 
 The Issuer is permitted by the
Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set
forth. 

  

					
		  		  	(NAROT 2019-B Indenture)

 This Note and the Indenture shall be construed in accordance with the laws of the State of
New York, without reference to its conflict of law provisions (other than Section 5-1401 of the General Obligations Law of the State of New York), and the obligations, rights and remedies of the parties
hereunder and thereunder shall be determined in accordance with such laws. In the event of any conflict or inconsistency between the terms of this Note and the terms of the Basic Documents, the terms of the Basic Documents shall control. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer to
pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency herein prescribed. 

  

					
		  		  	(NAROT 2019-B Indenture)

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of
assignee:                     

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto: 

 
  

(name and address of assignee) 
 the within Note
and all rights thereunder, and hereby irrevocably constitutes and appoints             , attorney, to transfer said Note on the books kept for registration thereof, with full power
of substitution in the premises. 

Dated:                */ 

Signature Guaranteed: 

                      
    */ 
  

	*/	 NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on
the face of the within Note in every particular, without alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar, which
requirements include membership or participation in STAMP or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 

  

					
		  		  	(NAROT 2019-B Indenture)

 Exhibit B 

ASSET REPURCHASE DEMAND ACTIVITY REPORT 

Reporting Period: 
 X Check here if nothing
to report. 
  

									
	 Transaction
	  	 Loan No.
	  	 Activity During Period

	  	 Date of Reputed Demand
	  	 Party Making Reputed Demand
	  	
Date of Withdrawal of Reputed Demand

	NAROT 2019-B	  		  		  		  	
	    	  		  		  		  	
	    	  		  		  		  	
	    	  		  		  		  	
	    	  		  		  		  	
	    	  		  		  		  	
	    	  		  		  		  	
	    	  		  		  		  	
	    	  		  		  		  	

  

					
		  		  	(NAROT 2019-B Indenture)

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