Document:

EX-10.1

 Exhibit 10.1 

[Execution Version] 
  

 
  

SALE AND SERVICING AGREEMENT 
 Dated as of
October 8, 2021 
 among 
 REGIONAL MANAGEMENT
RECEIVABLES III, LLC, 
 as Depositor 
 REGIONAL
MANAGEMENT CORP., 
 as Servicer 
 THE SUBSERVICERS
PARTY HERETO, 
 as Subservicers 
 and 

REGIONAL MANAGEMENT ISSUANCE TRUST 2021-3, 

as Issuer 
  

 
  

 TABLE OF CONTENTS 
  

							
		 		  	 	Page	 
	
	ARTICLE I	 
	DEFINITIONS	 
			
	 Section 1.01
	 	Definitions	  	 	1	 
	
	ARTICLE II	 
	CONVEYANCE OF LOANS	 
			
	 Section 2.01
	 	Conveyance of Loans	  	 	1	 
	 Section 2.02
	 	Acceptance by Issuer	  	 	3	 
	 Section 2.03
	 	Representations and Warranties of the Depositor Relating to the Depositor	  	 	3	 
	 Section 2.04
	 	Representations and Warranties of the Depositor on the Closing Date. The Depositor hereby represents and warrants to the Issuer and the Servicer as of the Closing Date, none of clauses (a) through (j) of this
Agreement’s definition of “Reinvestment Criteria Event” exist.	  	 	5	 
	 Section 2.05
	 	Representations and Warranties of the Depositor Relating to this Agreement and the Loans.	  	 	5	 
	 Section 2.06
	 	Repurchase Obligations	  	 	6	 
	 Section 2.07
	 	Covenants of the Depositor	  	 	7	 
	 Section 2.08
	 	Addition of Loans	  	 	9	 
	 Section 2.09
	 	Optional Purchase, Optional Call and Investor Regulatory Call	  	 	10	 
	 Section 2.10
	 	Optional Reassignment of Loans	  	 	10	 
	 Section 2.11
	 	Optional Sale of Charged-Off Loans	  	 	11	 
	 Section 2.12
	 	Issuer Loan Exclusions	  	 	11	 
	 Section 2.13
	 	Investment Company Act Restriction	  	 	12	 
	
	ARTICLE III	 
	ADMINISTRATION AND SERVICING OF LOANS	 
			
	 Section 3.01
	 	Acceptance of Appointment and Other Matters Relating to the Servicer	  	 	12	 
	 Section 3.02
	 	Servicing Compensation	  	 	13	 
	 Section 3.03
	 	Representations, Warranties and Covenants of the Servicer and each Subservicer	  	 	14	 
	 Section 3.04
	 	Adjustments	  	 	17	 
	 Section 3.05
	 	Back-up Servicing Agreement	  	 	17	 
	 Section 3.06
	 	Monthly Servicer Report	  	 	17	 
	 Section 3.07
	 	Annual Compliance Certificate	  	 	17	 
	 Section 3.08
	 	Copies of Reports Available	  	 	17	 
	 Section 3.09
	 	Notices To Regional Management Corp	  	 	17	 
	 Section 3.10
	 	Subservicing	  	 	17	 

  
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	 Section 3.11
	 	Custody of Receivable Files	  	 	19	 
	
	ARTICLE IV	 
	COLLECTIONS AND ALLOCATIONS	 
			
	 Section 4.01
	 	Collections and Allocations	  	 	20	 
	ARTICLE V	 
	OTHER MATTERS RELATING TO THE DEPOSITOR	 
			
	 Section 5.01
	 	Liability of the Depositor	  	 	21	 
	 Section 5.02
	 	Merger or Consolidation of the Depositor	  	 	21	 
	 Section 5.03
	 	Limitations on Liability of the Depositor	  	 	22	 
	 Section 5.04
	 	Limitations on Liability of the Depositor	  	 	22	 
	
	ARTICLE VI	 
	OTHER MATTERS RELATING TO THE SERVICER AND THE SUBSERVICERS	 
			
	 Section 6.01
	 	Liability of Servicer and the Subservicers	  	 	22	 
	 Section 6.02
	 	Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or a Subservicer	  	 	23	 
	 Section 6.03
	 	Limitation on Liability of the Servicer, the Subservicers and Others	  	 	24	 
	 Section 6.04
	 	Servicer Indemnification of the Issuer, the Owner Trustee and the Indenture Trustee	  	 	24	 
	 Section 6.05
	 	Resignation of the Servicer and the Subservicers	  	 	25	 
	 Section 6.06
	 	Access to Certain Documentation and Information Regarding the Loans	  	 	26	 
	 Section 6.07
	 	Delegation of Duties	  	 	26	 
	 Section 6.08
	 	Examination of Records	  	 	26	 
	 Section 6.09
	 	Servicer Power of Attorney	  	 	26	 
	
	ARTICLE VII	 
	INSOLVENCY EVENTS	 
			
	 Section 7.01
	 	Rights upon the Occurrence of an Insolvency Event	  	 	27	 
	
	ARTICLE VIII	 
	SERVICER DEFAULTS	 
			
	 Section 8.01
	 	Servicer Defaults	  	 	27	 
	 Section 8.02
	 	Indenture Trustee to Act; Appointment of Successor	  	 	29	 
	 Section 8.03
	 	Rule 15Ga-1 Compliance	  	 	30	 
	
	ARTICLE IX	 
	TERMINATION	 
			
	 Section 9.01
	 	Termination of Agreement as to Servicing	  	 	31	 

  
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	ARTICLE X	 
	MISCELLANEOUS PROVISIONS	 
			
	 Section 10.01
	 	Amendment; Waiver of Past Defaults; Assignment	  	 	31	 
	 Section 10.02
	 	Protection of Right, Title and Interest of Issuer	  	 	33	 
	 Section 10.03
	 	GOVERNING LAW	  	 	33	 
	 Section 10.04
	 	Notices	  	 	34	 
	 Section 10.05
	 	Severability	  	 	36	 
	 Section 10.06
	 	Further Assurances	  	 	36	 
	 Section 10.07
	 	Nonpetition Covenant	  	 	36	 
	 Section 10.08
	 	No Waiver; Cumulative Remedies	  	 	36	 
	 Section 10.09
	 	Counterparts; Execution	  	 	36	 
	 Section 10.10
	 	Binding Effect; Third-Party Beneficiaries	  	 	37	 
	 Section 10.11
	 	Merger and Integration	  	 	37	 
	 Section 10.12
	 	Headings	  	 	37	 
	 Section 10.13
	 	Schedules and Exhibits	  	 	37	 
	 Section 10.14
	 	Survival of Representations and Warranties	  	 	37	 
	 Section 10.15
	 	Limited Recourse	  	 	37	 
	 Section 10.16
	 	Rights of the Indenture Trustee	  	 	38	 
	 Section 10.17
	 	Reserved	  	 	38	 
	 Section 10.18
	 	Intention of the Parties	  	 	38	 
	 Section 10.19
	 	Additional Subservicers	  	 	39	 
	 Section 10.20
	 	Limitation of Liability of WTNA	  	 	39	 
	 Section 10.21
	 	EU Risk Retention	  	 	40	 

 SCHEDULES 
  

					
	 Schedule I
	 	—	  	List of Subservicers
	 Schedule II
	 	—	  	Part A – Definitions Schedule
		 		  	 Part B – Rules of Construction

	 Schedule III
	 	—	  	Perfection Representations, Warranties and Covenants
	 Schedule IV
	 	—	  	Loan Level Representations, Warranties and Covenants
			
	 EXHIBITS
	 		  	
			
	 Exhibit A-1
	 	—	  	Form of Initial Loan Assignment
	 Exhibit A-2
	 	—	  	Form of Additional Loan Assignment
	 Exhibit B
	 	—	  	Form of Annual Compliance Certificate
	 Exhibit C
	 	—	  	Form of Loan Reassignment
	 Exhibit D
	 	—	  	Form of Accession Agreement
	 Exhibit E
	 	—	  	Conditions to Accession
	 Exhibit F
	 	—	  	Rule 15Ga-1 Information
	 Exhibit G
	 	—	  	 Form of Limited Power of Attorney

	 Exhibit H
	 	—	  	 System Description

  
 - iii - 

 SALE AND SERVICING AGREEMENT, dated as of October 8, 2021 (this “Agreement”),
among REGIONAL MANAGEMENT RECEIVABLES III, LLC, a Delaware limited liability company, as depositor (the “Depositor”), REGIONAL MANAGEMENT CORP., a Delaware corporation, as servicer (the “Servicer”), the Subservicers
Party Hereto as identified in Schedule I hereto, and REGIONAL MANAGEMENT ISSUANCE TRUST 2021-3, a Delaware statutory trust, as issuer (the “Issuer”). 

BACKGROUND 
 Under this Agreement, the
Depositor will sell, from time to time, to the Issuer certain consumer loans. The Issuer intends to grant a security interest in those loans to the Indenture Trustee pursuant to the Indenture. 

AGREEMENT 
 In consideration of the mutual
agreements herein contained, each party agrees as follows for the benefit of the other parties and the Noteholders to the extent provided herein and in the Indenture: 

ARTICLE I 
 DEFINITIONS 

Section 1.01 Definitions. Certain capitalized terms in this Agreement are defined in and shall have the respective meanings assigned to them
in Part A of Schedule II to this Agreement. The rules of construction set forth in Part B of Schedule II shall be applicable to this Agreement. 

ARTICLE II 
 CONVEYANCE OF LOANS 

Section 2.01 Conveyance of Loans. (a) In consideration of the Issuer’s promise to pay the Purchase Price with respect to the Sold
Assets, the Depositor does hereby sell, transfer, convey, assign, set-over and otherwise convey to the Issuer from time to time, without recourse except as provided herein, all its right, title and interest
in, to and under, whether now owned or hereafter acquired (i) the Purchased Assets, (ii) the right to receive all Collections with respect to the Purchased Assets after the applicable Cut-Off Date,
(iii) all rights of the Depositor under the Loan Purchase Agreement and (iv) all proceeds thereof (such property, collectively, the “Sold Assets”); provided, however, that the Sold Assets shall not include any
(x) Reassigned Loan released in connection with any Issuer Loan Release or (y) Loan reconvened to the Depositor, Servicer or Subservicer in accordance with the express terms hereof. Purchased Assets shall not include any Loan reconveyed to
the Seller in accordance with the terms hereof. 
 The foregoing does not constitute and is not intended to result in the creation or an assumption by
the Issuer, the Owner Trustee (as such or in its individual capacity), the Indenture Trustee or any Noteholder of any obligation of the Seller, the Depositor, the Servicer or any other Person in connection with the Loans or under any agreement or
instrument relating thereto, including any obligations to Loan Obligors. 

  
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 (b) In consideration for the purchase of the Sold Assets hereunder, the Issuer hereby agrees, subject
to Article VIII of the Indenture, to pay to the Depositor on the Closing Date and, on each Payment Date, as applicable, the Purchase Price for the related Sold Assets, which shall consist of (i) the Notes, (ii) with respect to any
Additional Loans, Collections available for such purpose under the Indenture, including funds on deposit in the Principal Distribution Account and (iii) the Trust Certificate or, so long as the Depositor is the holder of the Trust Certificate,
an increase in the value thereof. 
 (c) The Depositor agrees to authorize, record and file, at the expense of the Depositor, on or within ten
(10) days of the Closing Date, all the financing statements (and amendments to financing statements when applicable) with respect to the Loans and the other Sold Assets meeting the requirements of applicable law in such manner and in such
jurisdictions as are necessary to perfect, and maintain the perfection of, the transfer and assignment of the Loans and the other Sold Assets to the Issuer as a first-priority ownership interest, and to deliver a file stamped copy of each such
financing statement or other evidence of such filing to the Issuer and, in the case of amendments to financing statements, as soon as practicable after receipt thereof by the Depositor. In the event that any transfer of Sold Assets on any Addition
Date requires any filing or documents necessary to maintain the interest of the Issuer and its assigns as a first-priority perfected ownership interest, the Depositor shall cause all such filings and recordings to be made on or within ten
(10) days of the date of such transfer and promptly provide evidence thereof to the Issuer. 
 (d) On or prior to the Closing Date or the relevant
Addition Date, as applicable, the Depositor shall mark its electronic records with respect to each Loan sold hereunder with a designation to indicate that such Loans and the related Sold Assets have been sold to the Issuer under this Agreement and a
security interest therein has been granted to the Indenture Trustee under the Indenture. The Depositor shall not change any of these entries in its computer files relating to any such Loan or related Sold Assets except in connection with any Loan
that ceases to be a Sold Asset; provided, that after a Loan shall have been repaid in full (and all Collections in respect thereof shall have been deposited into the Collection Account), such entries may be removed consistent with the Credit and
Collection Policy. 
 (e) The Depositor shall deliver to the Issuer a Loan Schedule, together with the Initial Loan Assignment, on the Closing Date,
identifying the Initial Loans sold hereunder by the Depositor. In addition, the Depositor agrees no later than the Monthly Determination Date following the end of each Collection Period, to deliver or cause to be delivered to the Issuer, an updated
Loan Schedule all Loans that will constitute Sold Assets as of the close of business on the related Loan Action Date (after giving effect to all Loan Actions on such Loan Action Date). Such Loan Schedule shall also separately identify each Loan that
will be designated as an Excluded Loan. 

  
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 (f) The parties intend that the transfer of the Sold Assets to the Issuer by the Depositor be an
absolute sale and not a secured borrowing. If the transaction under this Agreement were determined to be a loan rather than an absolute sale despite this intent of the parties, the transfers provided for in this Agreement shall be deemed to be the
grant of, and the Depositor hereby grants to the Issuer a first-priority security interest in, all of such entity’s right, title, and interest, whether now owned or hereafter acquired, in, to, and under the Sold Assets to secure the payment and
performance of all obligations of the Depositor under this Agreement including the obligation to cause the sale of Sold Assets and the payment of all monies due under the Sold Assets to the Issuer and its assigns. This grant is a protective measure
and must not be construed as evidence of any intent contrary to the one expressed in the first sentence of this paragraph, nor should the intent expressed in the first sentence of this paragraph be deemed to be an expression of the intended tax
treatment of the conveyance of the Sold Assets. 
 Section 2.02 Acceptance by Issuer. (a) The Issuer hereby acknowledges its
acceptance of all right, title and interest to the Sold Assets purchased by, and conveyed to, the Issuer pursuant to Section 2.01. The Issuer further acknowledges that, prior to or simultaneously with the execution and
delivery of this Agreement, the Depositor delivered to it a Loan Schedule relating to the Initial Loans. 
 (b) The Issuer hereby agrees not to
disclose to any Person any of the loan numbers or other information contained in the Loan Schedule (including any supplement thereto) except (i) to the Servicer (or any Subservicer), the Back-up Servicer
or as required by a Requirement of Law applicable to the Owner Trustee or the Issuer, (ii) in connection with the performance of any of the Issuer’s duties hereunder, (iii) to the Indenture Trustee in connection with its duties in
enforcing the rights of Noteholders, (iv) to the Seller or (v) to bona fide creditors or potential creditors of the Seller, the Depositor or the Issuer for the limited purpose of enabling any such creditor to identify applicable Loans
subject to this Agreement, the Purchase Agreement, the Loan Purchase Agreement or the Indenture, provided they agree to keep such information confidential. The Issuer agrees to take such measures as shall be reasonably requested by the Depositor to
protect and maintain the security and confidentiality of such information and, in connection therewith, shall allow the Depositor or its duly authorized representatives to inspect the Owner Trustee’s security and confidentiality arrangements as
they specifically relate to the administration of the Issuer from time to time during normal business hours upon prior written notice. 
 (c) The
Issuer shall not create, assume or incur indebtedness or other liabilities in the name of the Issuer other than as expressly contemplated in the Transaction Documents. 

Section 2.03 Representations and Warranties of the Depositor Relating to the Depositor. The Depositor hereby represents and warrants to the
Issuer, as of the Closing Date and each Addition Date that: 
 (a) Organization. The Depositor is a limited liability company
validly existing and in good standing under the laws of, and is duly qualified to do business in, the jurisdiction of its organization, and has full power and authority to own its properties and conduct its business as presently owned or conducted,
and to execute, deliver and perform its obligations under this Agreement, the Trust Agreement, the Purchase Agreement, the Loan Purchase Agreement and each other Transaction Document to which it is a party. 

  
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 (b) Due Qualification. The Depositor is duly qualified to do business and is in
good standing, as a Delaware limited liability company, and has obtained all necessary licenses and approvals (whether directly or indirectly through the Seller or a Subservicer in the applicable jurisdiction), in each jurisdiction in which failure
to so qualify or to obtain such licenses and approvals would have an Adverse Effect. 
 (c) Due Authorization. The execution and
delivery by the Depositor of this Agreement and any Transaction Document to which it is a party and the consummation by the Depositor of the transactions provided for in this Agreement and any Transaction Document to which it is a party have been
duly authorized by all necessary action on the part of the Depositor. 
 (d) No Conflict. The execution and delivery by the
Depositor of this Agreement and any Transaction Document to which it is a party and the performance by the Depositor of the transactions contemplated by this Agreement and any Transaction Document to which it is a party and the fulfillment by the
Depositor of the terms hereof and thereof applicable to the Depositor, will not conflict with or violate the organizational documents of the Depositor or any Requirements of Law applicable to the Depositor or conflict with, result in any breach of
any of the terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, any indenture, contract, agreement, mortgage, deed of trust or other instrument to which the Depositor is a party or by which it or
its properties are bound. 
 (e) Enforceability. Each of this Agreement and each other Transaction Document to which the
Depositor is a party is a legal, valid and binding obligation of the Depositor and is enforceable against the Depositor in accordance with its terms, except as enforceability may be limited by Debtor Relief Laws or general principles of equity; 

(f) No Proceedings. There are no Proceedings or investigations pending before any Governmental Authority or, to the best knowledge
of the Depositor, threatened, against the Depositor (i) asserting the invalidity of this Agreement or any other Transaction Document to which the Depositor is a party, (ii) seeking to prevent the consummation of any of the transactions
contemplated by this Agreement or any other Transaction Document to which the Depositor is a party, (iii) seeking any determination or ruling that, in the reasonable judgment of the Depositor, would materially and adversely affect the
performance by the Depositor of its obligations under this Agreement or any other Transaction Document to which it is a party, (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of
this Agreement or any other Transaction Document to which the Depositor is a party or (v) seeking to affect adversely the income or franchise tax attributes of the Issuer under the U.S. federal or any state income or franchise tax systems. 

(g) All Consents. All authorizations, consents, orders or approvals of or registrations or declarations with any Governmental
Authority required to be obtained, effected or given by the Depositor in connection with the execution and delivery by the Depositor of this Agreement and any Transaction Document to which it is a party and the performance of the transactions
contemplated by this Agreement and any Transaction Document to which it is a party have been duly obtained, effected or given and are in full force and effect. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
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 (h) Investment Company Act. It is not an “investment company” required to be
registered under the Investment Company Act. 
 Section 2.04 Representations and Warranties of the Depositor on the Closing Date. The
Depositor hereby represents and warrants to the Issuer and the Servicer as of the Closing Date, none of clauses (a) through (j) of this Agreement’s definition of “Reinvestment Criteria Event” exist. 

Section 2.05 Representations and Warranties of the Depositor Relating to this Agreement and the Loans. 

(a) Representations and Warranties. The Depositor hereby represents and warrants to the Issuer and the Servicer as of the Closing Date, as of each
Addition Date and, with respect to each Loan, as of the applicable Cut-Off Date that: 
 (i)
the Loan Schedule, in the case of the Closing Date, or the applicable Additional Loan Assignment Schedule in the case of an Addition Date, identifies all of the Loans conveyed by the Depositor to the Issuer, as applicable, on the Closing Date or
such Addition Date, as applicable, and each such Loan is in all material respects as described in the Loan Schedule or as will be described in the Additional Loan Assignment Schedule, as applicable, and when delivered to the Issuer by the Depositor
the information contained in the Loan Schedule or Additional Loan Assignment Schedule, as applicable, with respect to each Loan will be true, correct and complete in all material respects as of the related
Cut-Off Date; 
 (ii) with respect to (x) the Initial Loans on the Closing Date and
(y) with respect to any Additional Loans, upon the applicable Addition Date, this Agreement constitutes a valid sale, transfer, assignment and conveyance to the Issuer of all right, title and interest of the Depositor conveyed to the Issuer by
the Depositor and the proceeds thereof or, if this Agreement does not constitute a sale of such property, it constitutes a grant of a security interest in such property (and any right, title and interest therein) to the Issuer, which is enforceable
upon execution and delivery of this Agreement and the Initial Loan Assignment, in the case of any Initial Loan, and upon the execution and delivery of the applicable Additional Loan Assignment on such Addition Date, in the case of any Additional
Loan. Upon the filing of the applicable financing statements, the Issuer shall have a first-priority perfected security interest or ownership interest in such property and proceeds; 

(iii) each Loan conveyed by the Depositor to the Issuer hereunder on the Closing Date or the relevant Addition Date, as applicable, was
an Eligible Loan as of the applicable Cut-Off Date for such Loan; 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
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 (iv) each of the representations and warranties of the Seller set forth in
Section 4.02(a) of the Loan Purchase Agreement as of the Closing Date or such Addition Date, as applicable, is true and correct as of such date; 

(v) other than the security interest granted and the conveyance to the Issuer pursuant to this Agreement, the Depositor has not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed any of the Sold Assets described in Section 2.01 except as expressly permitted hereunder; and 

(vi) each of the representations and warranties set forth in Schedule III is true and correct as of the Closing Date or such
Addition Date, as applicable. 
 Notwithstanding any other provision of this Agreement or any other Transaction Document, the perfection
representations contained in Schedule III shall be continuing, and remain in full force and effect until such time as this Agreement terminates pursuant to Section 9.01 of this Agreement. 

In addition, in the case of an Excluded Loan that is de-designated as such on any Loan Action Date, the
Depositor represents and warrants to the Issuer and the Servicer as of such Payment Date that such Loan would constitute an Eligible Loan as of the end of the related Collection Period if the last day of such Collection Period were deemed to be such
Loan’s Cut-Off Date. 
 (b) Notice of Breach. The representations and warranties set forth in this
Section 2.05 shall survive the transfers and assignments of the Loans to the Issuer, the grant of a security interest in the Loans to the Indenture Trustee pursuant to the Indenture, and the issuance of the Notes. Upon
discovery by the Depositor, the Servicer or the Issuer of a breach of any of the representations and warranties set forth in this Section 2.05, the party discovering such breach shall give notice to the other parties and to
the Indenture Trustee within five (5) Business Days following such discovery; provided that the failure to give notice within five (5) Business Days does not preclude subsequent notice. 

Section 2.06 Repurchase Obligations. (a) Upon obtaining actual knowledge of, or receipt of written notice by, the Indenture Trustee or
the Issuer of a breach of any representation or warranty contained in Section 2.05(a) hereof (or under Section 4.02(a) of the Loan Purchase Agreement as incorporated pursuant to
Section 2.05(a)(iv) of this Agreement) by the Depositor with respect to a Loan sold hereunder to the Issuer at the time such representations and warranties were made, which breach materially adversely affects the interests
of the Noteholders in such Loan, the party discovering or receiving notice of such breach shall give prompt written notice thereof to the Seller, the Depositor, the Issuer and the Indenture Trustee (it being understood that the discovering party
shall not be required to notify itself); provided, that the Indenture Trustee shall not be deemed to have discovered, or deemed to have notice or knowledge of, any event, including, without limitation, with respect to a breach of any of the
representations and warranties set forth herein or any other Transaction Document, unless a Responsible Officer of the Indenture Trustee has actual knowledge or shall have received written notice thereof. In the case of a breach of any
representation or warranty contained in Section 2.05(a)(i), (iii), (iv) or (vi) hereof, the Depositor shall immediately exercise its rights under 

  
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Page 6 

 
Section 6.01 of the Loan Purchase Agreement to require the Seller to cure such breach, or if such breach is not cured during the applicable cure period, to repurchase such Loan, in each
case, in accordance with and subject to Section 6.01 of the Loan Purchase Agreement. The obligations of the Depositor to require the Seller to cure or the obligations of the Depositor to repurchase the affected Loan shall constitute the sole
and exclusive remedy, under this Agreement or otherwise, against the Depositor in respect of a breach by the Depositor of any representations or warranties contained in Section 2.05(a)(i), (iii), (iv) or
(vi) hereof. In the case of a breach of any representation or warranty contained in Section 2.05(a)(ii) or (v) with respect to any Loan, which breach materially adversely affects the interests of the
Noteholders in such Loan (any such breach, a “Direct Depositor Breach”), the Depositor shall either cure such breach in all material respects within forty-five (45) days from the date on which the Depositor is notified of, or
discovered, such breach or repurchase the affected Loan at the applicable Repurchase Price in accordance with Section 2.06(b) hereof. The obligations of the Depositor to so cure such breach or repurchase the affected Loan
shall constitute the sole and exclusive remedy under this Agreement or otherwise against the Depositor in respect of a breach by the Depositor of any representations or warranties contained in Section 2.05(a)(ii) or
(v) hereof. 
 (b) In the event that the Depositor has not cured any Direct Depositor Breach within the applicable forty-five day period in
accordance with (and to the extent required by) Section 2.06(a) hereof, the Depositor must repurchase its interests in the affected Loan on the first Payment Date following the end of the Collection Period in which such
forty-five day period expired; provided, that, in order to effectuate such repurchase, the Depositor shall deposit into the Collection Account, on or prior to such Payment Date, an amount equal to the Repurchase Price for such Loan in
immediately available funds. Upon receipt of the applicable Repurchase Price in the Collection Account and release of such Loan from the lien of the Indenture in accordance with the terms thereof, automatically and without further action, the Issuer
hereby sell to the Depositor without recourse, representation, or warranty, all of each of the Issuer’s right, title and interest in, to, and under (i) such Loan, (ii) with respect to the Issuer, the right to receive Collections in
respect of such Loan from and after the date of such repurchase, (iii) all Sold Assets relating to such Loan and (iv) all proceeds of any of the property and assets described in the foregoing clauses (i) through (iii).
The Issuer shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested and provided by the party repurchasing such Loan to effect the conveyance of such Loan. 

Section 2.07 Covenants of the Depositor. The Depositor hereby covenants to the Issuer and the Servicer, that: 

(a) Security Interests. Except for the conveyances hereunder, the Depositor shall not sell, pledge, assign or transfer to any other Person, or
grant, create, incur, assume or suffer to exist any Encumbrance arising through or under the Depositor on any Sold Assets conveyed by it to the Issuer or any interest therein, and the Depositor shall defend the right, title and interest of the
Issuer and the Indenture Trustee in, to and under the Sold Assets, against all claims of third parties claiming through or under the Depositor. 

  
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 (b) Trust Certificates. Except in connection with any transaction permitted by
Regulation RR and Section 5.02 and as provided in the Indenture and the Trust Agreement, the Depositor agrees not to transfer, sell, assign, exchange, participate or otherwise convey or pledge, hypothecate or otherwise
grant a security interest in the Trust Certificates held by the Depositor, and any such attempted transfer, assignment, exchange, conveyance, pledge, hypothecation, grant or sale shall be void. 

(c) Delivery of Collections. In the event that the Depositor receives Collections, the Depositor agrees to deposit such
Collections into the Collection Account as soon as practicable after receipt thereof. 
 (d) Notice of Encumbrances. The
Depositor shall notify the Owner Trustee and the Indenture Trustee promptly after becoming aware of any Encumbrance on any Sold Asset conveyed by it to the Issuer other than the conveyances hereunder and under the Loan Purchase Agreement and the
Indenture. 
 (e) Amendment of the Certificate of Formation and Limited Liability Agreement. The Depositor will not amend in any
respect its certificate of formation, the Depositor LLC Agreement or other organizational documents unless (i) the Depositor shall have provided to the Indenture Trustee and the Issuer an Officer’s Certificate of the Depositor, dated as of
the date of such amendment, stating that such amendment is not reasonably expected to result in an Adverse Effect and (ii) such amendment is effected in accordance with the terms of the applicable organizational document. 

(f) Separate Existence. The Depositor agrees to comply with the separateness covenants in Section 4.01 of the Depositor LLC
Agreement. 
 (g) Amendments to Loan Purchase Agreement. The Depositor further covenants that it shall not enter into, or
consent to, any amendments, modifications, waivers or supplements to, or terminations of, the Loan Purchase Agreement or enter into a new Loan Purchase Agreement, without the prior written consent of the Issuer. 

(h) Enforcement of Loan Purchase Agreement. The Depositor shall take all steps, as directed by the Issuer (or the Indenture
Trustee at the written direction of the Required Noteholders), to enforce its rights (and the rights of the Issuer and the Indenture Trustee as assignees of the Depositor) against any Seller with respect to any matter arising under the Loan Purchase
Agreement. 
 (i) Taxes. The Depositor shall pay out of its own funds, without reimbursement, the costs and expenses relating to
any stamp, documentary, excise, property (whether on real, personal or intangible property) or any similar tax levied on the Issuer or the Issuer’s assets that are not expressly stated in this Agreement to be payable by the Issuer (other than
federal, state, local and foreign income and franchise taxes, if any, or any interest or penalties with respect thereto, assessed on the Issuer). 

(j) Bankruptcy Limitations. The Depositor shall not, without the affirmative vote of each of the managers of the Depositor (which
must include the affirmative vote of the duly appointed Independent Manager as defined in the Depositor LLC Agreement): 

  
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(A) to the fullest extent permitted by applicable law, dissolve or liquidate, in whole or in part, or institute proceedings to be adjudicated bankrupt or insolvent, (B) consent to the
institution of bankruptcy or insolvency proceedings against it, (C) file a voluntary bankruptcy petition or any other petition seeking, or consent to, reorganization or relief under any applicable federal or state law relating to bankruptcy,
(D) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Depositor or a substantial part of its property, (E) make a general assignment for the benefit of creditors,
(F) admit in writing its inability to pay its debts generally as they become due, or (G) take any entity action in furtherance of the actions set forth in clauses (A) through (F) above.  

(k) Depositor Acting for Another Issuer. The Depositor shall not act as depositor for another issuer under a different
securitization unless the Depositor delivers an Officer’s Certificate to the Indenture Trustee to the effect that, based upon due inquiry, it has reasonably concluded that acting as depositor for such other issuer under such securitization will
not adversely affect the holders of the Notes in any material respect. 
 Section 2.08 Addition of Loans. (a) The Depositor, with the
consent of the Issuer (which it may provide or withhold in its sole discretion), may designate from time to time Additional Loans to be sold to the Issuer pursuant to this Agreement in exchange for the Purchase Price, in each case on the applicable
Addition Date. 
 (b) On the applicable Addition Date with respect to any Additional Loans (which shall be a Payment Date), the Issuer shall acquire
such Additional Loans and the Depositor shall make the following representations on such Addition Date: 
 (i) as of such Addition
Date, no Insolvency Event with respect to the Depositor shall have occurred and the transfer to the Issuer of such Additional Loans was not made in contemplation of the occurrence thereof; 

(ii) as of the applicable Addition Date, the Revolving Period was then in effect; 

(iii) as of the applicable Addition Date, the Depositor reasonably believed that the transfer of such Additional Loans to the Issuer
would not result in an Adverse Effect; 
 (iv) as of the applicable Addition Date, the Depositor shall not have used selection
procedures reasonably believed by the Depositor to be materially adverse to the interests of the Issuer or any Noteholders in selecting such Additional Loans to be conveyed to the Issuer; and 

(v) in connection with any such acquisition by the Issuer, the terms of the Indenture (including, without limitation, Section 8.07
thereof) have been complied with in all material respects. 

  
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 Notwithstanding the foregoing, no such acquisition of any Additional Loans by the Issuer hereunder
shall occur on any Addition Date unless, on or prior to such Addition Date, the Depositor shall have delivered to the Issuer an Additional Loan Assignment with respect to the Additional Loans for such Addition Date, together with an Additional Loan
Assignment Schedule with respect to such Additional Loans. 
 Section 2.09 Optional Purchase, Optional Call and Investor Regulatory
Call. (a) On any Business Day occurring on or after the date on which the Aggregate Note Balance of the Outstanding Notes is reduced to 10% or less of the Initial Note Balance, the Servicer shall have the option to purchase all of the Sold
Assets at a purchase price equal to the Redemption Price in accordance with Section 8.08(a) of the Indenture (an “Optional Purchase”). If the Servicer elects to exercise such Optional Purchase, it shall comply with all
applicable conditions set forth in Sections 8.08(a) and (c) of the Indenture. Upon proper exercise of such Optional Purchase and deposit of the Redemption Price into the Principal Distribution Account and the Collection Account in
accordance with Section 8.08(c) of the Indenture, all of the Sold Assets to be sold in connection with such Optional Purchase shall be sold to the Servicer. Such Redemption Price shall be applied to the Notes in accordance with the provisions
for the redemption of such Notes on the applicable Redemption Date as set forth in the Indenture. 
 (b) At any time on or after the date on which the
Loans and related Sold Assets are released from the lien of the Indenture in connection with an Optional Call, Optional Regulatory Call or Investor Regulatory Call pursuant to Section 8.05(i) of the Indenture, such Loans and related Sold Assets
may be sold, distributed, transferred or otherwise disposed of at the direction of the Depositor in its sole discretion. 
 Section 2.10
Optional Reassignment of Loans. (a) Subject to Sections 8.05 and 8.07 of the Indenture, on any Loan Action Date occurring during the Revolving Period, the Servicer (at the direction of the Depositor), at its sole option, may require
reassignment from the Issuer of its interests in Loans that were not Charged-Off Loans or Delinquent Loans, in each case, as of the end of the immediately preceding Collection Period (any such reassignment to
be a Permitted Reassignment and to be made against payment pursuant to this Section 2.10); provided, that the Servicer shall select such Loans in a manner that the Issuer and the Servicer reasonably believe is not materially adverse to
the interests of any Noteholders. Any such Loans shall be reassigned to the Depositor for the Reassignment Price applicable to such Loans, such Reassignment Price to be paid (i) with respect to Reassigned Loans, for so long as the Depositor is
the holder of the Trust Certificate, and at the Depositor’s option, by an adjustment to the value of the Trust Certificate, if such adjustment is available, in which case the Issuer will not receive a cash payment; provided, that no
adjustment to the value of the Trust Certificate shall cause non-compliance with Regulation RR) or (ii) otherwise, in immediately available funds to the Servicer (to be deposited in the Principal
Distribution Account). Neither the Servicer (on behalf of the Depositor or the Initial Beneficiary, as applicable) nor the Depositor shall cause any such reassignment to occur on any Loan Action Date unless: (x) (i) no Reinvestment Criteria
Event is outstanding and (ii) the reassignment of such Loans constitutes a Permitted Reassignment, in each case, after giving effect to all Loan Actions that occur on such Loan Action Date and (y) the Reassignment Price shall have been
paid as described above. No such reassignment may either (i) cause the Issuer to breach or otherwise violate any provision of the Indenture or (ii) occur unless it is a Permitted Reassignment.
 

  
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 (b) To cause any such reassignment of Loans, the Servicer (on behalf of the Depositor) shall take the
following actions and make the following determinations: 
 (i) on or before the Monthly Determination Date relating to the Loan Action
Date on which such reassignment is to occur (such Loan Action Date, the “Reassignment Date”), furnish to the Issuer and the Indenture Trustee a written notice specifying the Loans which are expected to be reassigned from the Issuer;

 (ii) on or prior to the applicable Reassignment Date, the Servicer shall supplement the Loan Schedule by delivering to the Issuer
and the Indenture Trustee a computer file or microfiche or written list (which may be in electronic form, acceptable to the Indenture Trustee) containing a true and complete list of the Loans that are to be reassigned on such Reassignment Date,
specifying for each such Loan, its loan number, Loan Principal Balance and the Subservicer, in each case as of the end of the Collection Period immediately preceding the Collection Period in which such Reassignment Date occurs; and 

(iii) be deemed to represent and warrant that the list of Loans delivered pursuant to clause (ii), as of the Reassignment Date, is
true and complete in all material respects. 
 Within five (5) Business Days after the applicable Reassignment Date of a Loan pursuant to this
Section 2.10, the Issuer shall deliver to the Depositor a Loan Reassignment substantially in the form of Exhibit C, together with any appropriate UCC releases or termination statements prepared and filed on behalf of the Issuer. 

Section 2.11 Optional Sale of Charged-Off Loans. The Servicer (or any Affiliate of the Servicer) may
undertake to locate a third party purchaser that is not affiliated with the initial Servicer, any of its Affiliates, the Seller, the Depositor or the Issuer to purchase from the Issuer any Charged-Off Loans,
and shall have the right to direct the Issuer to sell any such Loans to such third party purchaser; provided that all recoveries and other amounts collected by the Issuer, the Depositor or the Servicer (or any Affiliate of the Servicer) with respect
to any Charged-Off Loan (including proceeds of any disposition by the Servicer or any Affiliate thereof to any third party) in accordance with the Credit and Collection Policy shall be paid to the Issuer, by
deposit in the Collection Account. 
 Section 2.12 Issuer Loan Exclusions. Subject to the conditions specified in, and in accordance with,
Section 8.07 of the Indenture and the further conditions specified in this Section 2.12, on any Loan Action Date during the Revolving Period, the Servicer (at the direction of the Depositor or the Initial Beneficiary,
as applicable) may require the Issuer to designate one or more Loans included in the Sold Assets as an Excluded Loan or cause one or more Loans included in the Sold Assets to cease to be designated as an Excluded Loan. For the avoidance of doubt,
until such time as an Excluded Loan ceases to be so designated, it shall not be included in the Loan Action Date Loan Pool on any Loan Action Date (including the Loan Action Date on which it is designated as an Excluded Loan, but excluding the Loan
Action Date on which it is de-designated as such) or taken into account for purposes of determining whether or not a Reinvestment Criteria Event has occurred as of the end of the Collection Period

  
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preceding any such Loan Action Date, but it shall otherwise continue to constitute a Sold Asset and all Collections in respect thereof during any Collection Period shall constitute Available
Funds on the corresponding Payment Date. The designation of a Loan shall be effected by the delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the Monthly Determination Date relating to
applicable Loan Action Date of a report identifying each such expected Loan (by loan number and Seller and Subservicer) as an Excluded Loan. The Excluded Loans outstanding from time to time for any Loan Action Date shall be identified as such on
each Loan Schedule delivered on the Monthly Determination Date relating to such Loan Action Date. On any Loan Action Date during the Revolving Period, an Excluded Loan may be de-designated as such by the
delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the Monthly Determination Date relating to such Loan Action Date of a report identifying each such expected Loan (by loan number and
Seller and Subservicer) as ceasing to be designated as an Excluded Loan. No Excluded Loan may be de-designated as such on any Loan Action Date unless such Loan would constitute an Eligible Loan as of the close
of business on the last day of the Collection Period immediately preceding such Loan Action Date if such last day were deemed to be such Loan’s Cut-Off Date. 

Section 2.13 Investment Company Act Restriction. Notwithstanding anything to the contrary in this Agreement, the Depositor and the Issuer
hereby acknowledge and agree that neither the Depositor nor the Issuer shall, and neither shall be required to, acquire any additional Loans or related assets, or purchase, repurchase, reassign or otherwise dispose of any Loans or related assets
pursuant to this Agreement, for the primary purpose of recognizing gains or decreasing losses for the Depositor or the Issuer as a result of market value changes. 

ARTICLE III 
 ADMINISTRATION AND SERVICING
OF LOANS 
 Section 3.01 Acceptance of Appointment and Other Matters Relating to the Servicer. (a) The Issuer authorizes Regional
Management to act as initial Servicer (but without transfer to Regional Management of the Issuer’s right to service the Loans) and Regional Management agrees to act as the initial Servicer, in each case hereunder. 

(b) The Servicer shall service and administer the Loans, shall collect and deposit into the Collection Account or other applicable Note Account amounts
received under the Loans, shall charge off Loans deemed to be uncollectible and shall extend, amend or otherwise modify Loans, all in accordance with its customary and usual servicing procedures for servicing consumer loans comparable to the Loans
and in accordance with the Credit and Collection Policy and all applicable Requirements of Law. The Servicer shall have full power and authority, acting alone or through any party properly designated by it hereunder, including the Subservicers, to
do any and all things in connection with such servicing and administration which it may deem necessary or desirable. Without limiting the generality of the foregoing and subject to Section 8.01, the Servicer or its designee
is hereby authorized and empowered, unless such power is revoked by the Indenture Trustee on account of the occurrence of a Servicer Default pursuant to Section 8.01, (i) to make withdrawals or to instruct the Indenture
Trustee to make withdrawals from any Note Account permitted by the terms of this Agreement or the 

  
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Indenture and (ii) to execute and deliver, on behalf of the Issuer any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, to effect, on behalf
of the Issuer with respect to Loans in accordance with the requirements of this Agreement and after the delinquency of any Loan and to the extent permitted under and in compliance with applicable Requirements of Law, to commence collection
proceedings with respect to such Loans. The Issuer, and the Indenture Trustee shall furnish the Servicer with any documents reasonably requested by the Servicer or otherwise necessary to enable the Servicer to carry out its servicing and
administrative duties hereunder; provided, however, that none of the Owner Trustee or the Indenture Trustee shall be liable for any negligence with respect to, or misuse of, any such documents by the Servicer or any of its agents and
the Servicer shall hold the Owner Trustee and the Indenture Trustee harmless against any losses, claims, damages, fines or penalties of any nature incurred in connection therewith. 

(c) The Servicer shall pay out of its own funds, without payment or reimbursement therefor (except as provided in Section 3.02
hereof), all fees, costs and expenses incurred by the Servicer in connection with the servicing activities hereunder, including expenses related to enforcement of the Loans. 

(d) The Servicer shall not be required to use separate servicing operations, offices, employees or accounts for servicing the Loans from the operations,
offices, employees and accounts used by the Servicer in connection with servicing other consumer loans. 
 (e) The Servicer shall: (i) not amend
any related Contract other than on a per customer basis in accordance with the Credit and Collection Policy; (ii) comply, in all material respects, with the terms and conditions of the related Contracts; and (iii) promptly inform the
Issuer, and the Depositor of any material billing errors, claims, disputes or litigation with respect to the related Loans. 
 Section 3.02
Servicing Compensation. As full compensation for its servicing activities hereunder and as reimbursement for its expenses as set forth in the immediately following paragraph, the Servicer shall be entitled to receive the Servicing Fee payable
in arrears on each Payment Date on or prior to the termination of the Issuer pursuant to the terms of the Trust Agreement. The “Servicing Fee” for any Payment Date, other than the Initial Payment Date, shall be an amount equal to
the product of (i) 4.75%, multiplied by (ii) the aggregate Loan Principal Balance as of the first day of the related Collection Period, multiplied by (iii) one-twelfth. The Servicing Fee shall
be payable to the Servicer solely to the extent that amounts are available for payment in accordance with the terms of the Indenture (including by the Servicer retaining Collections in an amount up to the aggregate accrued and unpaid Servicing Fee).

 The Servicer’s fees, costs and expenses include the reasonable fees and disbursements of attorneys, independent accountants and all other
fees, costs and expenses incurred by the Servicer in connection with its activities hereunder, including, without limitation, any fees payable to any Subservicer or any other Person performing any of the Servicer’s duties and obligations
hereunder. The Servicer shall be required to pay such fees, costs and expenses for its own account and shall not be entitled to any payment or reimbursement therefor or to any fee or other payment from, or claim on, any of the assets in the Trust
Estate (other than the Servicing Fee). Notwithstanding the foregoing, no Successor Servicer will be responsible to pay the fees and expenses of the Issuer. 

  
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 The Issuer and the Servicer acknowledge and agree that (i) the servicing arrangements provided
for in this Agreement are on terms consistent with those arrived at as a result of arm’s length negotiations and that they are typical of servicing arrangements made for servicing assets such as the Loans, (ii) the Servicing Fee is
expected to more than cover the anticipated costs associated with the performance by the Servicer of its obligations hereunder with respect to the Loans and other Sold Assets, and constitutes fair consideration and reasonable compensation to the
Servicer for the performance of such obligations, and (iii) an unaffiliated third party having the requisite experience servicing assets such as the Loans would be willing to assume the servicing obligations hereunder for compensation
commensurate with the Servicing Fee. 
 Section 3.03 Representations, Warranties and Covenants of the Servicer and each Subservicer. The
Servicer, each Subservicer and any Successor Servicer by its appointment hereunder hereby makes, with respect to itself only, on the Closing Date (or on the date of the appointment of such Successor Servicer) and on each Addition Date, the following
representations, warranties and covenants on which each of (x) the Issuer shall be deemed to rely in accepting its interest in the Loans, (y) the Back-up Servicer shall be deemed to have relied in
accepting its appointment as Back-up Servicer under the Back-up Servicing Agreement, and (z) the Indenture Trustee shall be deemed to have relied in accepting the
grant of a security interest in the Loans and in entering into the Indenture: 
 (a) Organization. It is an organization validly
existing and in good standing under the laws of, and is duly qualified to do business in, the jurisdiction of its incorporation or organization and has, in all material respects, full power and authority to own its properties and conduct its
consumer loan business as presently owned or conducted, and to execute, deliver and perform its obligations under this Agreement and each other Transaction Document to which it is a party. 

(b) Due Qualification. It is in good standing and duly qualified to do business (or is exempt from such requirements) and has
obtained all necessary licenses and approvals (in the case of the Servicer, whether directly or indirectly through a Subservicer in the applicable jurisdiction) in each jurisdiction in which it is performing the primary servicing function for any of
the Loans under this Agreement, except where the failure to be in good standing, so qualify or obtain licenses or approvals would not have an Adverse Effect. 

(c) Due Authorization. The execution, delivery, and performance by it of this Agreement and the other agreements and instruments
executed and delivered by it as contemplated hereby, have been duly authorized by all necessary action on the part of such party. 

(d) Binding Obligation. This Agreement and each other Transaction Document to which it is a party constitutes a legal, valid and
binding obligation of such party, enforceable in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws or by general principles of equity (whether considered in a proceeding at law or in equity).

  
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 (e) No Conflict. The execution and delivery of this Agreement and each
Transaction Document to which it is a party by it, and the performance by it of the transactions contemplated by this Agreement and the fulfillment by it of the terms hereof and thereof applicable to such party, will not conflict with, violate or
result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, any material indenture, contract, agreement, mortgage, deed of trust or other instrument to which it is a
party or by which it or its properties are bound, except for any such conflict, violation, breach or default which would not have an Adverse Effect. 

(f) No Violation. The execution and delivery by it of this Agreement and each other Transaction Document to which it is a party,
the performance by it of the transactions contemplated by this Agreement and each other Transaction Document to which it is a party and the fulfillment by it of the terms hereof and thereof applicable to such party will not conflict with or violate
any Requirements of Law applicable to such party. 
 (g) No Proceedings. There are no Proceedings or investigations pending
against it before any Governmental Authority or, to the best of its knowledge, threatened, seeking to prevent the consummation of any of the transactions contemplated by this Agreement or seeking any determination or ruling that, in the reasonable
judgment of such party, would materially and adversely affect the performance by it of its obligations under this Agreement and the other Transaction Documents to which it is a party. 

(h) Compliance with Requirements of Law; Credit and Collection Policy. It shall (i) duly satisfy all obligations on its part
to be fulfilled hereunder or in connection with each Loan and will maintain in effect all qualifications required under Requirements of Law in order to service properly each Loan; (ii) comply in all material respects with its Credit and
Collection Policy and (iii) comply with all other Requirements of Law in connection with servicing each Loan the failure to comply with which would have an Adverse Effect. 

(i) No Modification, Rescission or Cancellation. It shall not permit any amendment, waiver, modification, rescission or
cancellation of any Loan, except in accordance with its Credit and Collection Policy, as required by Requirements of Law or as ordered by a court of competent jurisdiction or other Governmental Authority. 

(j) Protection of Rights. It shall take no action which, nor omit to take any action the omission of which, would impair, in any
material respect, the rights of the Issuer or the Indenture Trustee in any Loan, nor shall it reschedule, revise or defer payments due on any Loan, in each case except in accordance with its Credit and Collection Policy or as required by
Requirements of Law. 

  
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 (k) Credit and Collection Policy. It shall not, and shall not permit any
Subservicer to, amend, modify, waive or supplement the Credit and Collection Policy in any manner that could reasonably be expected to result in an Adverse Effect, except as required by Requirements of Law or as ordered by a court of competent
jurisdiction or other Governmental Authority. 
 (l) Further Assurances. It shall do and perform, from time to time, such acts
as are within its power and authority as the Servicer or a Subservicer, as applicable, to maintain the perfection and priority of the security interests in the Loans granted hereunder and under the Loan Purchase Agreement. 

(m) Reserved. 

(n) Reserved. 
 In the event
any representation, warranty or covenant of the Servicer or any Subservicer contained in paragraphs (h), (i) or (j) of this Section 3.03 with respect to any Loan is breached (the
“Applicable Representations”), which breach materially adversely affects the interests of the Noteholders in such Loan, and is not cured within forty-five (45) days from the first date on which the Servicer or the breaching
Subservicer either (y) is notified by the Issuer, the Indenture Trustee, the Servicer (with respect to any Subservicer) or the Depositor of such breach, or (z) discovered such breach, then any Loan or Loans to which such event relates
shall be assigned and transferred to the Servicer on the terms and conditions set forth below. 
 The Servicer shall effect such assignment by making
a deposit into the Collection Account or other applicable Note Account in immediately available funds not later than the Payment Date immediately following the Collection Period in which such forty-five day period expired in an amount equal to the
Repurchase Price of the affected Loans as of the date of such deposit. The obligation of the Servicer to accept reassignment or assignment of such Loans, and to make the deposits, if any, required to be made to the Collection Account or other
applicable Note Account as provided in the preceding paragraph, shall constitute the sole remedy available to the Issuer, the Depositor, the Noteholders or the Indenture Trustee with respect to a breach of such Applicable Representations, except as
provided in Section 6.04. 
 Upon each such assignment to or purchase by the Servicer, the Issuer shall automatically and
without further action sell, transfer, assign, set-over and otherwise convey to the Servicer, without recourse, representation or warranty, all right, title and interest of the Issuer in and to such Loans, all
monies due or to become due and all amounts received or receivable with respect thereto and all proceeds thereof. The Issuer shall execute such documents and instruments of transfer or assignment and take such other actions as shall be reasonably
requested by the Servicer to effect the conveyance of any such Loans pursuant to this Section 3.03 but only upon receipt of an Officer’s Certificate of the Servicer that states that all conditions set forth in this
Section have been satisfied. 

  
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 Section 3.04 Adjustments. If (i) the Servicer or any Subservicer makes a deposit into
the Collection Account or other applicable Note Account in respect of a Collection of a Loan and such Collection was received by the Servicer or such Subservicer in the form of a check or other payment which is not honored or is reversed for any
reason or (ii) the Servicer or any Subservicer makes a mistake with respect to the amount of any Collection and deposits an amount that is less than or more than the actual amount of such Collection, the Servicer or such Subservicer shall
appropriately adjust the amount subsequently deposited into the Collection Account or other applicable Note Account to reflect such dishonored or reversed payment or mistake. Any such adjustment shall be reflected in the records of the Servicer or
the applicable Subservicer with respect to such Loan. 
 Section 3.05 Back-up Servicing Agreement.
(a) The Servicer shall comply with its obligations under the Back-up Servicing Agreement and the other Transaction Documents to which it is a party (in its capacity as Servicer). 

(b) Each Subservicer hereby agrees that it shall cooperate with the Servicer in the performance of the Servicer’s duties under the Back-up Servicing Agreement, during any Servicing Centralization Period and any Servicing Transition Period. 

Section 3.06 Monthly Servicer Report. Not later than the Monthly Determination Date relating to each Payment Date, but in no event later
than the second Business Day preceding each Payment Date, the Servicer shall deliver to the Issuer, the Back-up Servicer, the Owner Trustee and the Indenture Trustee the Monthly Servicer Report, in
substantially the form set forth in the Indenture. The Servicer shall calculate and provide to the Indenture Trustee in writing all applicable original issue discount information relating to the Notes in a timely manner in order to enable the
Indenture Trustee to perform any reporting obligations with respect thereto. 
 Section 3.07 Annual Compliance Certificate. The Servicer
shall deliver to the Issuer and the Indenture Trustee on or before March 31 of each calendar year, beginning with March 31, 2023, an Officer’s Certificate substantially in the form of Exhibit B hereto, together with an agreed
upon procedures letter delivered by a firm of nationally recognized independent public accountants (who may also render other services to the Servicer or the Seller) with respect to the Servicer’s activities under the Transaction Documents.

 Section 3.08 Copies of Reports Available. A copy of each Monthly Servicer Report and Officer’s Certificate (but not letters or
reports from the independent public accountants) provided pursuant to Section 3.06 or 3.07 will be made available by the Indenture Trustee to the Noteholders via its website at www.ctslink.com. 

Section 3.09 Notices To Regional Management Corp. In the event that Regional Management is no longer acting as Servicer, any
Successor Servicer shall deliver to the Issuer, the Owner Trustee and the Indenture Trustee each Monthly Servicer Report, Officer’s Certificate and report required to be provided thereafter pursuant to Section 3.06,
3.07 or 3.08. 
 Section 3.10 Subservicing. (a) Each Subservicer shall be responsible for the servicing and
administration of the Loans for which such Subservicer is designated as the Subservicer on the Loan Schedule; provided, however, that the Servicer may redesignate the Subservicers for particular Loans from time to time;
provided, further, that any such redesignation will comply with licensing regulations applicable to such Subservicers. Each 

  
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Subservicer shall service and administer the related Loans in accordance with the provisions of Section 3.01. As part of its servicing activities hereunder, the Servicer
shall enforce the obligations of each Subservicer under this Agreement. Such enforcement, including, without limitation, the legal prosecution of claims, termination of Subservicers, and the pursuit of other appropriate remedies, shall be in such
form and carried out to such an extent and at such time as the Servicer, in its good faith business judgment, would require were it the owner of the related Loans. The Servicer shall pay the costs of such enforcement at its own expense. 

(b) The Servicer shall be entitled to terminate the subservicing of the Loans by any Subservicer under this Agreement at any time in its sole discretion.
In the event of termination of any Subservicer, the Servicer shall either (A) directly service the related Loans, but only to the extent the Servicer has the regulatory authorizations to do so, or (B) appoint another duly licensed
Subservicer to service and administer such Loans and, in either case, such entity shall assume all such servicing obligations immediately upon such termination. Notwithstanding anything else to the contrary contained herein, all rights and
obligations of the Subservicers under this Agreement shall terminate upon the occurrence of a Servicing Transfer Date (including the Servicing Assumption Date) and the related successor Servicer will not be required to enforce the obligations of any
prior Subservicer that has been terminated in connection with such Servicing Transfer Date; provided, however, that any Subservicer may be engaged (and each Subservicer has agreed to reasonably cooperate with the Back-up Servicer or any other Successor Servicer in arranging any such engagement) by any Successor Servicer, including the Back-up Servicer, on terms reasonably satisfactory
to such Subservicer, to provide servicing and administration of the Loans subject to the direction of such Successor Servicer (including the Back-up Servicer). 

(c) Each Subservicer shall make available to the Servicer sufficient information relating to the subservicing of Loans under this Agreement so as to
enable the Servicer to prepare and deliver the Monthly Servicer Report and Officer’s Certificate required by Sections 3.06 and 3.07 of this Agreement. Each Subservicer will provide or cause to be provided to the independent
service provider selected by the Servicer to furnish any report required by Section 3.07 of this Agreement sufficient information relating to the subservicing of Loans under this Agreement, or reasonable access to the
premises of such Subservicer, as reasonably required by such independent service provider to furnish such report required by Section 3.07 of this Agreement. 

(d) Each Subservicer shall be entitled to compensation for its services as a Subservicer under this Agreement by the Servicer as agreed to by the
Servicer and such Subservicer, and no Subservicer will be entitled to any fee or other payment from, or claim on, any of the assets in the Trust Estate. 

(e) Notwithstanding the appointment of the Subservicers for any such servicing and administration of the related Loans or any other purpose hereunder,
the Servicer shall remain obligated and solely liable to the Issuer, the Indenture Trustee and the Noteholders for the servicing and administering of the Loans in accordance with the provisions of Section 3.01 without
diminution of such obligation or liability by virtue of such subservicing arrangement to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Loans. 

  
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 Section 3.11 Custody of Receivable Files. 

(a) Custody. The Issuer and the Indenture Trustee, upon the execution and delivery of this Agreement, hereby revocably appoint the Servicer, and
the Servicer hereby accepts such appointment, to act as the agent (solely in its capacity as Servicer under the Transaction Documents) of the Issuer and the Indenture Trustee, solely in the Servicer’s capacity as custodian of the Contracts.

 (b) Safekeeping. The Servicer, in its capacity as custodian, or a Subservicer, appointed by the Servicer as subcustodian pursuant to
Section 3.11(e), shall hold the Contracts (i) in physical form (or, in the case of Convenience Checks, in physical or electronic form) or (ii) with respect to each Loan originated in electronic form, in electronic form in the
Electronic Vault, provided that if a contract is Exported from the Electronic Vault, the Custodian shall hold such Contract in physical form in accordance with its customary servicing practices. The custodian or, if applicable, any Subservicer
appointed by it as subcustodian (in the case of Loans held in physical form) will hold such Contracts for the benefit of the Issuer and the Indenture Trustee, as pledgee of the Issuer; provided, that the Servicer, in its capacity as
custodian, shall ensure that the Electronic Contracts are maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee (for the benefit of the Noteholders) in the Electronic Vault. The Electronic Vault will be
controlled by the Servicer in its capacity as custodian hereunder. In performing its duties as custodian, the Servicer shall act in accordance with its customary servicing practices. The Servicer will promptly report to the Issuer and the Indenture
Trustee any failure on its part (or, if applicable, a subcustodian’s part) to hold a material portion of the Contracts (including Electronic Contracts, but not including any Convenience Checks) and maintain its account, records, and computer
systems as herein provided and promptly take appropriate action to remedy any such failure. Nothing herein will be deemed to require an initial review or any periodic review by the Issuer or the Indenture Trustee of the Contracts. The Servicer may,
in accordance with its customary servicing practices, maintain all or a portion of a Contract in electronic form in the Electronic Vault and/or maintain custody of all or any portion of a Contract with one or more Persons to whom the Servicer has
delegated responsibilities in accordance with Section 6.07. The Servicer will maintain each Contract in the United States (it being understood that (i) the Contracts, or any part thereof, may be maintained at the offices of any Person to
whom the Servicer has delegated responsibilities in accordance with Section 6.07 and (ii) Electronic Contracts shall be maintained in the Electronic Vault). The Servicer will make available to the Issuer and the Indenture Trustee or their
duly authorized representatives, attorneys or auditors a list of locations of the Contracts upon request. Notwithstanding any reference herein or in any other Transaction Document to the Electronic Vault Provider acting as a designated custodian of
the Indenture Trustee, the parties hereto acknowledge and agree that the Indenture Trustee shall not be liable for, and shall have no duty to supervise or monitor, the default, misconduct or any other action or omission of the Electronic Vault
Provider, and that the Indenture Trustee may assume the Electronic Vault Provider’s performance of its duties and obligations under the Transaction Documents. The Servicer shall cause the Electronic Vault to reflect the name of the applicable
Owner of Record as follows: “Regional Management Issuance Trust 2021-3”. 

  
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 (c) Effective Period and Termination. The Servicer’s appointment as custodian with respect
to any Loan shall become effective as of the Cut-Off Date for such Loan and will continue in full force and effect until terminated pursuant to this Section 3.11(c) (or such Loan ceases to be a Sold
Asset); provided, the Servicer’s appointment as custodian in respect of the Initial Loans shall be deemed to have been effective as of the Initial Cut-Off Date. If Regional Management resigns as Servicer
in accordance with the provisions of this Agreement or if all of the rights and obligations of the Servicer have been terminated under Section 8.01, the Indenture Trustee may (and upon the written direction of the Required Noteholders shall)
terminate the appointment of the Servicer as custodian hereunder in the same manner as the Indenture Trustee may terminate the rights and obligations of the Servicer under Section 8.01. In the event that the Custodian is terminated in such
capacity, each Subservicer will be terminated as subcustodian for each Loan with respect to which it is then acting in such capacity. Upon the resignation or termination of the Servicer in accordance with this Agreement, control of the Contracts in
the Electronic Vault shall be transferred to the Back-up Servicer to the extent it becomes the successor servicer in accordance with this Agreement, or another successor servicer. In the event that the Back-up Servicer assumes servicing responsibilities or a successor Servicer, as applicable, is appointed, the outgoing Servicer shall promptly transfer to the Back-up Servicer
or a successor Servicer, as applicable, in such manner and to such location as the Back-up Servicer or a successor Servicer, as applicable, shall reasonably designate, all of the Contracts and other Related
Loan Assets in its possession or control; provided, however, if the Back-up Servicer is the successor Servicer, it shall (i) notify the Electronic Vault Provider of the transfer of servicing
responsibilities to the Back-up Servicer as Successor Servicer and (ii) accept the transfer of possession of the Electronic Vault to the Back-up Servicer as
Successor Servicer; it being agreed by the Servicer that it shall reasonably cooperate with the Back-up Servicer with respect to effecting any such election, notification or transfer. 

(d) Establishment of Imaging System. Other than with respect to any Electronic Contract, the Servicer shall maintain an imaging system through
which the original physical Contract and, with respect to any Hard Secured Loan, the original physical certificate of title with respect to the Titled Asset securing such Hard Secured Loan may be imaged and captured through a standalone PDF, or
another electronic medium, device and validated through an internal, controlled process with images captured, stored and identifiable at a central location as a backup to physical documentation. For the avoidance of doubt, the Servicer shall cause
imaged files with respect to which the related Contract is an Electronic Contract to be stored in the Electronic Vault. 
 (e) Subcustodian. The
Servicer, in its capacity as custodian, may appoint a Subservicer as subcustodian with respect to any Contract pursuant to Section 6.07. In the event that the custodian is terminated in such capacity hereunder, each
subcustodian will be terminated as subcustodian for each Loan with respect to which it is then acting in such capacity. 
 ARTICLE IV 

COLLECTIONS AND ALLOCATIONS 

Section 4.01 Collections and Allocations. (a) The Servicer shall comply with its obligations in Article VIII of the Indenture. 

  
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 (b) Each Subservicer shall deliver any Collections received by such Subservicer to the Servicer for
deposit into the Collection Account in accordance with Section 8.03 of the Indenture. 
 ARTICLE V 

OTHER MATTERS RELATING TO THE DEPOSITOR 

Section 5.01 Liability of the Depositor. The Depositor shall be liable for all obligations, covenants, representations and warranties of the
Depositor arising under or related to this Agreement and each other Transaction Document to which it is a party. The Depositor shall be liable only to the extent of the obligations specifically undertaken by it in its capacity as a Depositor. 

Section 5.02 Merger or Consolidation of the Depositor. (a) The Depositor shall not dissolve, liquidate, consolidate with or merge into
any other corporation, limited liability company or other entity or convey, transfer or sell (other than conveyances hereunder) its properties and assets substantially as an entirety to any Person unless: 

(i) the entity formed by such consolidation or into which the Depositor is merged or the Person which acquires by conveyance, transfer or
sale the properties and assets of the Depositor substantially as an entirety shall be, if the Depositor is not the surviving entity, organized and existing under the laws of the United States of America or any state or the District of Columbia, and
shall be a special purpose corporation or other special purpose entity whose powers and activities are limited and, if the Depositor is not the surviving entity, such entity or Person shall expressly assume, by a written agreement supplemental
hereto, executed and delivered to the Servicer, the Issuer and the Indenture Trustee, in form reasonably satisfactory to the Servicer, the Issuer and the Indenture Trustee, the performance of every covenant and obligation of the Depositor hereunder;

 (ii) the Depositor or the surviving or transferee entity, as the case may be, has delivered to the Issuer and the Indenture Trustee
(A) an Officer’s Certificate of the Depositor or such entity stating that such consolidation, merger, conveyance, transfer or sale and such supplemental agreement complies with this Section 5.02 and that all
conditions precedent herein provided for relating to such transaction have been complied with and (B) an Officer’s Certificate of the Depositor or such entity and an Opinion of Counsel each stating that such supplemental agreement is a
valid and binding obligation of such surviving entity enforceable against such surviving entity in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other
similar laws affecting creditors’ rights generally from time to time in effect or general principles of equity; and 
 (iii) the
Depositor or the surviving or transferee entity, as the case may be, has delivered to the Indenture Trustee and the Servicer an Officer’s Certificate of the Depositor or such entity to the effect that in the reasonable belief of the Depositor
or such entity, such consolidation, merger, conveyance, transfer, sale or other specified action will not have an Adverse Effect. 

  
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 (b) Except in connection with a transaction permitted under the foregoing clause (a), the
obligations, rights or any part thereof of the Depositor hereunder shall not be assignable nor shall any Person succeed to such obligations or rights of the Depositor hereunder. The sale or other conveyance of Loans by the Depositor to the Issuer
under this Agreement shall not constitute a conveyance, transfer or sale of its properties or assets substantially as an entirety to any Person for purposes of this Section 5.02. 

Section 5.03 Limitations on Liability of the Depositor. Subject to Section 5.01, none of the Depositor or any of
the directors, officers, employees, agents, members or managers of the Depositor acting in such capacities shall be under any liability to the Issuer, the Servicer, any Subservicer, the Seller, the Owner Trustee, the Indenture Trustee, the
Noteholders or any other Person for any action taken or for refraining from the taking of any action in good faith in such capacities pursuant to this Agreement or any other Transaction Document, it being expressly understood that such liability is
expressly waived and released as a condition of, and consideration for, the execution of this Agreement; provided, however, that this provision shall not protect the Depositor or any such Person against any liability which would
otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of reckless disregard of obligations and its duties hereunder. The Depositor and any director, officer, employee,
member or manager or agent of the Depositor may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person (other than the Depositor) respecting any matters arising hereunder. 

Section 5.04 Limitations on Liability of the Depositor. 

(a) The Depositor shall not enter into any Permitted Securitization Transaction Document in connection with any Permitted Securitization unless such
Permitted Securitization Transaction Document contains provisions substantially similar in form, substance and effect to Sections 10.07(a) and 10.15(a) hereof and Section 11.19 of the Indenture and Section 9.14 of the Loan
Purchase Agreement. 
 (b) Other than the Transaction Documents, the Depositor shall not enter into any Permitted Securitization Transaction Document
except in connection with a Permitted Securitization. 
 ARTICLE VI 

OTHER MATTERS RELATING TO THE SERVICER AND THE SUBSERVICERS 

Section 6.01 Liability of Servicer and the Subservicers. The Servicer and the Subservicers shall be liable under this Article VI only
to the extent of the obligations specifically undertaken by the Servicer or such Subservicer in its capacity as Servicer or Subservicer, as applicable, subject to Section 3.10(e). 

  
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 Section 6.02 Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or
a Subservicer. Neither the initial Servicer nor a Subservicer shall consolidate with or merge into any other corporation, limited partnership, limited liability company or other entity or convey, transfer or sell its properties and assets
substantially as an entirety to any Person (other than any conveyance, transfer or sale by a Subservicer of its properties and assets to the initial Servicer or another Subservicer, provided that the transferor Subservicer continues to exist after
such conveyance, transfer or sale), unless: 
 (a) (i) in the case of any such event by the initial Servicer, the entity formed by such
consolidation or merger into which the initial Servicer is merged (in each case, if other than the initial Servicer) or the Person which acquires by conveyance, transfer or sale the properties and assets of the initial Servicer substantially as an
entirety shall be an Eligible Servicer (after giving effect to such consolidation, merger or transfer) and (ii) in the case of any such event by the initial Servicer or any Subservicer, if the initial Servicer or such Subservicer is not the
surviving Person, such surviving Person shall expressly assume, by a written agreement supplemental hereto, executed and delivered to the Issuer, the Indenture Trustee and the Depositor in a form reasonably satisfactory to the Issuer, the Indenture
Trustee and the Depositor, the performance of every covenant and obligation of the initial Servicer or such Subservicer hereunder and under each other Transaction Document to which it is a party; 

(b) the initial Servicer or the Subservicer, as applicable, or the surviving Person of such consolidation or merger or Person which acquires the
properties and assets of the initial Servicer or Subservicer, as the case may be, has delivered to the Issuer, the Indenture Trustee and the Depositor (A) an Officer’s Certificate of the initial Servicer, such Subservicer or such entity,
as applicable, stating that such consolidation, merger, conveyance, transfer or sale complies with this Section 6.02 and that, in the reasonable determination of the officer signing such Officer’s Certificate, such
consolidation, merger, conveyance, transfer or sale will not have an Adverse Effect, and (B) an Opinion of Counsel stating that such supplemental agreement described in clause (a) is a valid and binding obligation of such surviving
or transferee Person enforceable against such Person in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights
generally from time to time in effect or general principles of equity; and 
 (c) the sale by the Seller of Loans to the Depositor under the Loan
Purchase Agreement shall not be a conveyance, transfer or sale of its properties or assets substantially as an entirety to any Person for purposes of this Section 6.02. 

Upon any such merger, consolidation or transfer of all or substantially all of the assets of the initial Servicer or a Subservicer in accordance with
this Section 6.02, the surviving or transferee Person shall be the successor to and substituted for the initial Servicer or such Subservicer, as applicable, for all purposes under this Agreement. 

If a Successor Servicer consolidates with, merges or converts into, or transfers or sells all or substantially all of its corporate trust business or
assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association without any further act shall be the successor to and substituted for such Successor Servicer for all purposes under
this Agreement. 

  
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 Section 6.03 Limitation on Liability of the Servicer, the Subservicers and Others.
(a) Except as provided in Section 6.04, neither the Servicer nor any of the directors, officers, partners, members, managers, employees or agents of the Servicer in its capacity as Servicer shall be under any liability
to the Issuer, the Owner Trustee, the Indenture Trustee, the Noteholders or any other Person for any action taken or for refraining from the taking of any action in good faith in its capacity as Servicer in accordance with this Agreement; provided,
however, that this provision shall not protect the Servicer or any such Person against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or negligence (or, if the Servicer is not Regional Management, gross
negligence) in the performance of its duties or by reason of reckless disregard of its obligations and its duties hereunder. The Servicer and any director, officer, employee, partner, shareholder, member or manager or agent of the Servicer may rely
in good faith on any document of any kind prima facie properly executed and submitted by any Person (other than the Servicer) respecting any matters arising hereunder. The Servicer shall not be under any obligation to appear in, prosecute or defend
any legal action which is not incidental to its duties as Servicer in accordance with this Agreement and which in its reasonable judgment may involve it in any material expense or liability. In furtherance of its obligations hereunder, the Servicer
may, in its sole discretion, undertake any such legal action which it may deem necessary or desirable for the benefit of the Issuer and the Noteholders with respect to this Agreement and the rights and duties of the parties hereto and the interests
of the Issuer and the Noteholders hereunder. 
 (b) Except as provided in Section 6.04, neither any Subservicer nor any of
the directors, officers, partners, shareholders members, managers, employees or agents of a Subservicer in its capacity as a Subservicer shall be under any liability to the Issuer, the Owner Trustee, the Indenture Trustee, the Noteholders, the
Servicer or any other Person for any action taken or for refraining from the taking of any action in good faith in its capacity as a Subservicer pursuant to this Agreement; provided, however, that this provision shall not protect a Subservicer or
any such Person against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or negligence (or, if such Subservicer is not an Affiliate of Regional Management, gross negligence) in the performance of its duties
or by reason of reckless disregard of its obligations and its duties hereunder. Each Subservicer and any director, officer, employee, partner, member or manager or agent of a Subservicer may rely in good faith on any document of any kind prima
facie properly executed and submitted by any Person (other than such Subservicer) respecting any matters arising hereunder. No Subservicer shall be under any obligation to appear in, prosecute or defend any legal action which is not incidental
to its duties as a Subservicer in accordance with this Agreement and which in its reasonable judgment may involve it in any expense or liability. 

Section 6.04 Servicer Indemnification of the Issuer, the Owner Trustee and the Indenture Trustee. The Servicer shall indemnify and hold
harmless each of the Issuer, the Owner Trustee (as such and in its individual capacity), the Indenture Trustee (as such and in its individual capacity) and any trustees predecessor thereto (including the Indenture Trustee in its capacity as Note
Registrar), and the Back-up Servicer (as such and in its individual capacity) and their respective directors, officers, employees, partners, members or managers and agents from

  
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and against any and all loss, liability, expense, damage or injury suffered or sustained by reason of any acts or omissions of the Servicer (including in its capacity as custodian of any
Contracts pursuant to Section 3.11) or a Subservicer with respect to the Issuer in breach of this Agreement or any other Transaction Document to which the Servicer is a party (other than such as may arise from the gross
negligence or willful misconduct of the Owner Trustee, the Back-up Servicer or the Indenture Trustee, as applicable), including any judgment, award, settlement, reasonable attorneys’ fees and other costs
or expenses incurred in connection with the defense of any action, Proceeding or claim. In addition, the Servicer shall indemnify and hold the Issuer harmless for any tax or fee to which the Issuer becomes subject in any jurisdiction by reason of
the Servicer or a Subservicer being located in such jurisdiction or performing servicing activities in such jurisdiction. Indemnification pursuant to this Section 6.04 shall not be payable from the Sold Asset.
Notwithstanding anything to the contrary herein, neither the Servicer nor any Subservicer shall in any event be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, without limitation, loss
of profit) irrespective of whether the Servicer or such Subservicer, as applicable, has been advised of the likelihood of such loss or damage and regardless of the form of action. 

Section 6.05 Resignation of the Servicer and the Subservicers (a) The Servicer shall not resign from the obligations and duties imposed
on it hereunder, under the Indenture except upon a determination that (i) the performance of its duties hereunder, under the Indenture is no longer permissible under applicable law and (ii) there is no reasonable action which the Servicer
could take to make the performance of its duties hereunder, under the Indenture permissible under applicable law. Any determination permitting the resignation of the Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to
the Owner Trustee, the Back-up Servicer and the Indenture Trustee. No resignation shall become effective until a Successor Servicer (which shall be the Back-up Servicer
unless the Back-up Servicer is the resigning Servicer) or the Indenture Trustee shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 8.02
hereof, the Indenture (other than in the case of the Back-up Servicer, any such duty or obligation that it is not required to assume under the express terms of the
Back-up Servicing Agreement, this Agreement or the Indenture). If within one hundred twenty (120) days of the date of the determination that the Servicer may no longer act as Servicer as described above,
the Indenture Trustee is unable to appoint a Successor Servicer, the Indenture Trustee shall serve as Successor Servicer. Notwithstanding the foregoing, the Indenture Trustee shall, if it is legally unable or unwilling so to act, petition a court of
competent jurisdiction to appoint any established institution qualifying as an Eligible Servicer as the Successor Servicer hereunder. 
 (b)
Notwithstanding Section 6.05(a), the Servicer may, without the requirement of obtaining the prior consent of any Person, assign part or all of its duties and obligations hereunder, under the Indenture to an Affiliate of the
Servicer so long as (i) such entity is an Eligible Servicer as of the date of such assignment, and (ii) the Servicer reasonably determines that such assignment will not materially adversely affect the interests of any Noteholders;
provided, that any such assignment shall not constitute a resignation pursuant to this Section 6.05 

  
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 (c) So long as Regional Management remains the Servicer, no Subservicer shall resign from the
obligations and duties hereby imposed on it except with the consent of the Servicer. Notwithstanding the foregoing, a Successor Servicer may, without the requirement of obtaining the prior consent of any Person, delegate any or all of its duties and
obligations hereunder, under the Indenture to one or more subservicers; provided, that such Successor Servicer shall remain obligated and solely liable to the Depositor, the Indenture Trustee and the Issuer for its duties, obligations and
liabilities under this Agreement and the Indenture to the same extent and under the same terms and conditions as if such Successor Servicer were acting alone; provided, further, that any such delegation shall not constitute a resignation
pursuant to this Section 6.05. 
 Section 6.06 Access to Certain Documentation and Information Regarding the
Loans. The Servicer and each Subservicer (including in its capacity as custodian or subcustodian, as applicable) shall provide to the Issuer or the Indenture Trustee, as applicable, access to the documentation regarding the Loans in such cases
where the Issuer or the Indenture Trustee, as applicable, is required in connection with the enforcement of the rights of the Issuer or the Noteholders or by applicable statutes or regulations to review such documentation, such access being afforded
without charge but only (a) upon reasonable request, (b) during normal business hours, (c) subject to the Servicer’s or Subservicer’s, as applicable, normal security and confidentiality procedures and (d) at reasonably
accessible offices in the continental United States designated by the Indenture Trustee, the Servicer or Subservicer, as applicable. Nothing in this Section shall derogate from the obligation of the Depositor, the Issuer, the Subservicer and the
Servicer to observe any applicable law or regulation prohibiting disclosure of information regarding the Loan Obligors and the failure of the Servicer or Subservicer to provide access as provided in this Section as a result of such obligation shall
not constitute a breach of this Section. 
 Section 6.07 Delegation of Duties. In the ordinary course of business (and subject to the
standard of care set forth in Section 3.01), the Servicer (including any Successor Servicer) may at any time delegate its duties hereunder with respect to the Loans to any Person or enter subservicing arrangements with any
Person (including the Subservicers) that agrees to conduct such duties in accordance with the Credit and Collection Policy and this Agreement. Such delegation shall not relieve the Servicer of its liability and responsibility with respect to such
duties, and shall not constitute a resignation pursuant to Section 6.05. 
 Section 6.08 Examination of Records.
The Depositor, each Subservicer (with respect to the Loans being subserviced by it) and the Servicer shall indicate generally in their computer files or other records that the Loans have been conveyed to the Issuer pursuant to the terms of this
Agreement. Each of Depositor, each Subservicer and the Servicer shall, prior to the sale or transfer to a third party of any loan held in its custody, examine its computer records and other records to determine that such loan is not, and does not
include, a Loan. Upon such examination and conclusion that such loan is not, and does not include, a Loan, the Depositor, each Subservicer and the Servicer shall be free to sell, transfer or otherwise assign such loan. 

Section 6.09 Servicer Power of Attorney. The Issuer hereby authorizes the Servicer acting alone or through an Affiliate, including the
Subservicers, to execute, deliver and perform any and all agreements, documents or certificates as the Issuer may be requested or required by the Issuer to undertake in connection with enforcing its rights as the legal title holder to the Loans. In
connection with the enforcement of any rights of the Issuer with respect to any Loan, the Issuer shall furnish the Servicer or Subservicers, as applicable, with a power of attorney (substantially in the form of Exhibit G hereto) and any other
documents reasonably necessary or appropriate to enable the Servicer to enforce such rights on behalf of the Issuer. 

  
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 ARTICLE VII 

INSOLVENCY EVENTS 
 Section 7.01
Rights upon the Occurrence of an Insolvency Event. The Depositor shall, on the day that any Insolvency Event occurs with respect to the Depositor, immediately cease to transfer Additional Loans to the Issuer and the Depositor shall promptly
give notice to the Indenture Trustee and the Issuer thereof. Loans transferred to the Issuer prior to the occurrence of such Insolvency Event and Collections in respect of such Loans transferred to the Issuer shall continue to be a part of the Sold
Assets and shall be allocated and distributed to Noteholders in accordance with the terms of this Agreement and the Indenture. 
 ARTICLE VIII

 SERVICER DEFAULTS 
 Section 8.01
Servicer Defaults. If any one of the following events (a “Servicer Default”) shall occur and be continuing: 
 (a) any failure
by the Servicer to make any required payment, transfer or deposit or to give instructions or notice to the Indenture Trustee to make such payment, transfer or deposit on or before the date such payment, transfer or deposit or such instruction or
notice is required to be made or given, as the case may be, under the terms of this Agreement or the Indenture, in an aggregate amount exceeding $50,000, and which failure continues unremedied for a period of five (5) Business Days after the
earlier of (i) the date on which notice of such failure, requiring the same to be remedied, shall have been given by registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or to the Servicer, the Issuer and the
Indenture Trustee by the Required Noteholders and (ii) the actual knowledge of the Servicer thereof; 
 (b) any failure on the part of the
Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth in this Agreement or the Indenture, or in any certificate delivered by the Servicer pursuant to this Agreement or the Indenture, which failure has a
material adverse effect on the interests of the Noteholders (as determined by the Threshold Noteholders) and which continues unremedied for a period of forty-five (45) days after the earlier of (i) the date on which notice of such failure,
requiring the same to be remedied, shall have been given by registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or to the Servicer, the Issuer and the Indenture Trustee by the Threshold Noteholders and (ii) the
actual knowledge of the Servicer thereof; 
 (c) any representation, warranty or certification made by the Servicer in this Agreement or the Indenture,
or in any certificate delivered by the Servicer pursuant to this Agreement or the Indenture, shall prove to have been incorrect when made or deemed made and such failure has a material adverse effect on the Noteholders (as determined by the
Threshold 

  
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Noteholders) and which continues unremedied for a period of forty-five (45) days after the earlier of (i) the date on which a notice specifying such incorrect representation or warranty
and requiring the same to be remedied, shall have been given by registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or to the Servicer, the Issuer, and the Indenture Trustee by the Threshold Noteholders and
(ii) the actual knowledge of the Servicer thereof; or 
 (d) an Insolvency Event shall occur with respect to the Servicer; 

then, in the event of any Servicer Default, so long as a Servicer Default is continuing, the Indenture Trustee may (and upon the written direction of the Required
Noteholders shall), by notice then given to the Servicer, the Issuer and the Back-up Servicer (a “Termination Notice”) (i) terminate all of the rights and obligations of the Servicer as
Servicer under this Agreement and the Indenture and (ii) direct the applicable party to terminate any power of attorney granted to the Servicer or any Subservicer and direct such party to execute a new power of attorney to the Indenture Trustee
or its designee. The existence of a Servicer Default may be waived with the consent of the Required Noteholders. 
 Notwithstanding the foregoing, a
delay in or failure of performance referred to under paragraph (a) above for an additional period of five (5) Business Days after the applicable grace period or referred to under paragraph (b) or (c) above for a period of forty-five
(45) days after the applicable grace period, shall not constitute a Servicer Default if such delay or failure could not be prevented by the exercise of reasonable diligence by the Servicer and such delay or failure was caused by a Force Majeure
Event. If, following the expiration of such incremental forty-five (45) day grace period in the case of a delay or failure of performance described in paragraph (b) or (c) above, the applicable delay or failure of performance remains
outstanding but the Servicer continues to work diligently to remedy such delay or failure of performance, then the grace period shall be extended for a further thirty (30) days upon notice from the Servicer to the Indenture Trustee. The
preceding sentences will not relieve the Servicer from using all commercially reasonable efforts to perform its obligations in a timely manner in accordance with the terms of this Agreement and the Servicer shall provide the Indenture Trustee, the
Issuer and the Depositor with an Officer’s Certificate giving prompt notice of such failure or delay, together with a description of its efforts so to perform its obligations. 

After receipt by the Servicer of a Termination Notice, and effective on the Servicing Transfer Date, all authority and power of the Servicer under this
Agreement shall pass to and be vested in the Successor Servicer (a “Servicing Transfer”) appointed by the Indenture Trustee (at the written direction of the Required Noteholders if the Successor Servicer is not the Back-up Servicer or the Indenture Trustee) pursuant to Section 8.02; and, without limitation, the Indenture Trustee is hereby authorized and empowered (upon the failure of the Servicer to
cooperate promptly) to execute and deliver, on behalf of the Servicer, as attorney-in-fact or otherwise, all documents and other instruments upon the failure of the
Servicer to execute or deliver such documents or instruments, and to do and accomplish all other acts or things necessary or appropriate to effect the purposes of such Servicing Transfer. The Servicer agrees to reasonably cooperate and to cause each
Subservicer to reasonably cooperate (and each Subservicer agrees to cooperate) with the Indenture Trustee and such Successor Servicer in (i) effecting the termination of the responsibilities and rights of the Servicer to conduct servicing
hereunder and (ii) transferring all duties and obligations of the Servicer hereunder to such 

  
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Successor Servicer, including the transfer to such Successor Servicer of all authority of the Servicer to service and administer the Loans provided for under this Agreement, including all
authority over all Collections which shall on the date of transfer be held by the Servicer for deposit, or which have been deposited by the Servicer, in the Collection Account or other applicable Note Account, or which shall thereafter be received
with respect to the Loans, and in assisting the Successor Servicer. The Servicer shall transfer to the Successor Servicer all its electronic records relating to the Loans, together with all other records, correspondence and documents necessary for
the continued servicing and administration of the Loans in the manner and at such times as the Successor Servicer shall reasonably request. Notwithstanding the foregoing, the Servicer shall be allowed to retain a copy of all records, correspondence
and documents provided to the Successor Servicer in compliance with the Servicer’s recordkeeping policies or Requirements of Law. The predecessor Servicer shall be responsible for all expenses incurred in transferring the servicing duties to
the Successor Servicer. To the extent that compliance with this Section shall require the Servicer to disclose to the Successor Servicer information of any kind which the Servicer deems to be confidential or give the Successor Servicer access to
software or other intellectual property, the Successor Servicer shall be required to enter into such customary licensing and confidentiality agreements as the Servicer shall deem reasonably necessary to protect its interests. 

Section 8.02 Indenture Trustee to Act; Appointment of Successor. (a) On and after the receipt by the Servicer of a Termination Notice
pursuant to Section 8.01, the Servicer shall continue to perform all servicing functions under this Agreement until the earlier of (i) the date specified in the Termination Notice or otherwise specified by the
Indenture Trustee and (ii) the Servicing Transfer Date. The Indenture Trustee shall as promptly as possible after the giving of a Termination Notice appoint (at the written direction of the Required Noteholders in the case of a Successor
Servicer that is not the Back-up Servicer or the Indenture Trustee) an Eligible Servicer (which shall be the Back-up Servicer unless the
Back-up Servicer is then acting as the Servicer) as 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 or has not accepted its appointment at the time when the Servicer ceases to act as Servicer, the Indenture Trustee without further action shall
automatically be appointed the Successor Servicer. The Indenture Trustee may delegate any of its servicing obligations to an Affiliate or agent in accordance with Section 3.01(b) and Section 6.07.
Notwithstanding the foregoing, the Indenture Trustee shall, if it is legally unable or unwilling so to act, petition a court of competent jurisdiction to appoint any established institution qualifying as an Eligible Servicer as the Successor
Servicer hereunder. 
 (b) Upon its appointment, the Successor Servicer shall be the successor in all respects to the Servicer with respect to
servicing functions under this Agreement, and shall be subject to all the responsibilities, duties and liabilities relating thereto placed on the Servicer by the terms and provisions hereof (other than in the case of the Back-up Servicer, any such responsibility, duty or liability that it is not required to assume under the terms of this Agreement or the Back-up Servicing Agreement), and all
references in this Agreement to the Servicer shall be deemed to refer to the Successor Servicer. 
 Within five (5) Business Days after the
Servicer becomes aware of any Servicer Default, the Servicer shall give notice thereof to the Issuer, the Indenture Trustee and the Back-up Servicer. Upon any termination or appointment of a Successor Servicer pursuant to this Article VIII,
the Indenture Trustee shall give prompt notice thereof to the Noteholders. 

  
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 Section 8.03 Rule 15Ga-1 Compliance. (a) To
the extent a Responsible Officer of the Successor Servicer receives a demand for the repurchase of a Loan based on a breach of a representation or warranty made by the Seller (or the Servicer) of such Loan (each, a “Demand”), the
Successor Servicer agrees (i) if such Demand is in writing, promptly to forward such Demand to the Depositor, and (ii) if such Demand is oral, to instruct the requesting party to submit such Demand in writing to the Indenture Trustee and
the Depositor. 
 (b) In connection with the repurchase of a Loan pursuant to a Demand, any dispute with respect to a Demand, or the withdrawal or
final rejection of a Demand, the Successor Servicer agrees, to the extent a Responsible Officer of the Successor Servicer has actual knowledge thereof, promptly to notify the Depositor in writing. 

(c) The Successor Servicer will (i) notify the Depositor, as soon as practicable and in any event within five (5) Business Days of the receipt
thereof and in the manner set forth in Exhibit F hereof, of all Demands and provide to the Depositor any other information reasonably requested to facilitate compliance by it with Rule 15Ga-1 under the
Exchange Act, and (ii) if requested in writing by the Depositor, provide a written certification no later than fifteen (15) days following any calendar quarter or calendar year that the Successor Servicer has not received any Demands for
such period, or if Demands have been received during such period, that the Successor Servicer has provided all the information reasonably requested under clause (i) above with respect to such demands. For purposes of this Agreement,
references to any calendar quarter shall mean the related preceding calendar quarter ending in March, June, September, or December, as applicable. The Successor Servicer has no duty or obligation to undertake any investigation or inquiry related to
any repurchases of Loans, or otherwise assume any additional duties or responsibilities, other than those express duties or responsibilities the Successor Servicer has hereunder or under the Transaction Documents, and no such additional obligations
or duties are otherwise implied by the terms of this Agreement. The Depositor has full responsibility for compliance with all related reporting requirements associated with the transaction completed by the Transaction Documents and for all
interpretive issues regarding this information. 
 The Indenture Trustee shall provide the Depositor and the Servicer (each, a “Regional
Party” and, collectively, the “Regional Parties”) with (i) notification, as soon as practicable and in any event within five (5) Business Days, of all demands communicated in writing to a Responsible Officer of
the Indenture Trustee for the repurchase or replacement of any Loan pursuant to this Agreement or the Loan Purchase Agreement, as applicable and (ii) promptly upon receipt by a Responsible Officer of written request by a Regional Party, any
other information reasonably requested by such Regional Party to facilitate compliance by the Regional 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 to be made by a securitizer under the Exchange Act or
Regulation AB. 

  
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 ARTICLE IX 

TERMINATION 
 Section 9.01 Termination
of Agreement as to Servicing. Unless earlier terminated as contemplated herein, the appointment of the Servicer and the Subservicers under this Agreement and the respective obligations and responsibilities of the Issuer, the Depositor, the
Servicer, the Subservicers and the Indenture Trustee to the Servicer and the Subservicers, as applicable, under this Agreement, and the rights and obligations of the Servicer and the Subservicers under this Agreement except with respect to the
obligations described in Section 10.07, shall terminate on the date of termination of the Trust Agreement. Such termination shall be automatic, without any required action of the Depositor, the Indenture Trustee, the Issuer
or any Noteholder. The obligations and responsibilities of the Indenture Trustee under this Agreement shall terminate upon the termination of the Indenture in accordance with its terms, unless such obligations and responsibilities are terminated
earlier as contemplated herein. 
 ARTICLE X 

MISCELLANEOUS PROVISIONS 
 Section 10.01
Amendment; Waiver of Past Defaults; Assignment. (a) This Agreement may be amended from time to time by the Servicer, the Depositor and the Issuer by a written instrument signed by each of them, but without consent of any of the
Noteholders, (i) to correct or supplement any provisions herein which may be inconsistent with any other provisions herein, (ii) to add provisions addressing any amendment to the Intercreditor Agreement and Intercreditor Security Agreement
which has otherwise been consented to by Wells Fargo Bank, National Association, as agent and the other warehouse facility agents party thereto, or (iii) to add any other provisions with respect to matters or questions arising under or related
to this Agreement which shall not be inconsistent with the provisions of this Agreement; provided, however, that such action shall not adversely affect in any material respect the interest of any of the Noteholders as evidenced by an Officer’s
Certificate of the Depositor to such effect delivered to the Indenture Trustee and the Issuer. Additionally, this Agreement may be amended from time to time (including in connection with the issuance of a supplement certificate or to change the
definition of Collection Period, Monthly Determination Date or Payment Date) by the Servicer, the Depositor and the Issuer by a written instrument signed by each of them, but without the consent of any of the Noteholders; provided that the Depositor
shall have delivered to the Indenture Trustee and the Issuer an Officer’s Certificate, dated the date of any such amendment, stating that the Depositor reasonably believes that such amendment will not have an Adverse Effect. Notwithstanding
anything else to the contrary herein, this Agreement may be amended by the Servicer, the Depositor and the Issuer by a written instrument signed by each of them, but without the consent of the Noteholders, (a) to avoid the imposition of any
withholding taxes or state or local income or franchise taxes imposed on the Issuer’s property or its income or (b) to amend the Intercreditor Agreement, including but not limited to adding and/or removing one or more Intercreditor
Accounts. 

  
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 (b) Without limiting Section 10.01(a), this Agreement may also be amended
from time to time by the Servicer, the Depositor and the Issuer with the consent of the Required Noteholders, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of
modifying in any manner the rights of the Noteholders; provided, however, that no such amendment effected pursuant to this clause (b) shall (i) reduce in any manner the amount of or delay the timing of any distributions
(changes in Early Amortization Events that decrease the likelihood of the occurrence thereof shall not be considered delays in the timing of distributions for purposes of this clause) to be made to Noteholders or deposits of amounts to be so
distributed without the consent of each affected Noteholder, (ii) change the definition of or the manner of calculating the interest of any Noteholder without the consent of each affected Noteholder or (iii) reduce the aforesaid percentage
required to consent to any such amendment, in each case, without the consent of each Noteholder. 
 (c) Promptly after the execution of any such
amendment or consent (other than an amendment pursuant to paragraph (a)), the Issuer shall furnish notification of the substance of such amendment to the Indenture Trustee and each Noteholder, and the Servicer shall furnish notification of
the substance of such amendment to the Issuer. 
 (d) It shall not be necessary for the consent of Noteholders (if required) under this
Section 10.01 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Noteholders shall be subject to such reasonable requirements as the Indenture Trustee may prescribe. 
 (e)
The Required Noteholders may, on behalf of all Noteholders, waive any default by the Depositor, the Issuer or the Servicer in the performance of their obligations hereunder and its consequences, except the failure to make any distributions required
to be made to Noteholders or to make any required deposits of any amounts to be so distributed (which such default may only be waived by 100% of the affected Noteholders). Upon any such waiver of a past default, such default shall cease to exist,
and any default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement; provided that no such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent
expressly so waived. 
 (f) Any amendment hereunder which affects the rights, duties, immunities or liabilities of the Owner Trustee or the Indenture
Trustee shall require the Owner Trustee’s or the Indenture Trustee’s, as applicable, written consent. Each of the Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which affects the
Owner Trustee’s or the Indenture Trustee’s rights, duties, benefits, protections, privileges or immunities under this Agreement or otherwise. In connection with the execution of any amendment hereunder on behalf of the Issuer, each of the
Owner Trustee and the Indenture Trustee shall be entitled to receive an Opinion of Counsel and an Officer’s Certificate to the effect that all conditions precedent thereto have been satisfied and that such amendment is permitted under the terms
of this Agreement. All reasonable fees, costs and expenses (including reasonable attorneys’ fees, costs and expenses) incurred in connection with any such amendment will be payable by the Issuer in accordance with and subject to
Section 8.06 of the Indenture. 

  
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 (g) Notwithstanding anything in this Section 10.01 to the contrary, no
amendment may be made to this Agreement which would adversely affect in any material respect the rights or obligations of any Subservicer without the consent of such Subservicer. 

(h) Notwithstanding anything in this Section 10.01 to the contrary, no amendment may be made to this Agreement which would
adversely affect in any material respect the rights or obligations of the Indenture Trustee without the consent of the Indenture Trustee. 
 (i) Except
as contemplated in Sections 5.02, 6.02 and 6.05, no party may assign any interest in this Agreement, except that (i) the Issuer may assign their interest in this Agreement to the Indenture Trustee under the Indenture and
(ii) any party may assign its interest in this Agreement to any other Person if (A) at least ten days prior to the assignment notice is given to each other party hereto, and (B) each other party gives its prior written consent to the
assignment. 
 Section 10.02 Protection of Right, Title and Interest of Issuer. (a) The Depositor shall cause this Agreement, all
amendments and supplements hereto and all financing statements and amendments thereto and continuation statements and any other necessary documents covering the Issuer’s right, title and interest to the Sold Assets (and the Issuer hereby
authorize the Depositor to make such filings on its behalf to the extent that the applicable UCC provides that the Issuer is the person authorized to make such filings) to be promptly recorded, registered and filed, and at all times to be kept
recorded, registered and filed, all in such manner and in such places as may be required by law fully to preserve and protect the right, title and interest of the Issuer hereunder to the Sold Assets. The Depositor shall deliver to the Issuer and
Indenture Trustee file-stamped copies of, or filing receipts for, any document recorded, registered or filed as provided above, as soon as available following such recording, registration or filing. The Depositor shall cooperate fully with the
Servicer in connection with the obligations set forth above and will execute any and all documents reasonably required to fulfill the intent of this paragraph. 

(b) Within thirty (30) days after the Depositor makes any change in its name, type or jurisdiction of organization, or organizational identification
number, the Depositor shall give the Issuer and the Indenture Trustee notice of any such change and shall file such financing statements or amendments as may be necessary to continue the perfection and priority of the Issuer’s security interest
or ownership interest in the Loans and the other Sold Assets. 
 Section 10.03 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS (OTHER THAN SECTIONS 5-1401 AND
5-1402 OF THE GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
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 EACH OF THE PARTIES HERETO HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY NEW YORK STATE COURT SITTING IN THE COUNTY OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING
BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO BRING ANY ACTION OR PROCEEDING AGAINST ANY OTHER
PARTY HERETO OR ANY OF THEIR PROPERTY IN THE COURTS OF OTHER JURISDICTIONS. 
 EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE, AMONG ANY OF THEM ARISING OUT OF, CONNECTED WITH, RELATING TO AND INCIDENT TO THE RELATIONSHIP BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT OR THE OTHER
TRANSACTION DOCUMENTS. 
 Section 10.04 Notices. All demands, notices, instructions, directions and communications under this Agreement
must be in writing and will be considered effective when delivered by hand, electronic communication (including e-mail) by courier, by overnight delivery service, or by certified mail, return receipt requested
and postage prepaid. 
  

	 	(a)	 in the case of the Depositor, to: 

979 Batesville Road, Suite B 
 Greer,
South Carolina 29651 
 Attention: Harpreet Rana, Executive Vice President and 

Chief Financial Officer 
 Email:
hrana@regionalmanagement.com 
  

	 	(b)	 in the case of the Servicer, to: 

979 Batesville Road, Suite B 
 Greer,
South Carolina 29651 
 Attention: Harpreet Rana, Executive Vice President and 

Chief Financial Officer 
 Email:
hrana@regionalmanagement.com 
  

	 	(c)	 in the case of the Issuer, to: 

979 Batesville Road, Suite B 
 Greer,
South Carolina 29651 
 Attention: Harpreet Rana, Executive Vice President and 

Chief Financial Officer 
 Email:
hrana@regionalmanagement.com 

  
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	 	(d)	 in the case of the Owner Trustee, to: 

Wilmington Trust, National Association 
 Rodney
Square North 
 1100 North Market Street 

Wilmington, Delaware 19890 
 Attention: Corporate
Trust Administration – Regional Management Issuance Trust 2021-3 
  

	 	(e)	 in the case of the Indenture Trustee, to: 

Wells Fargo Bank, National Association 
 Attention:
Corporate Trust Services/Structured Products Services 
 600 S 4th St. 

MAC N9300-061 

Minneapolis, MN 55415 
 Telephone: (612) 667-7181 
  

	 	(f)	 in the case of the Back-up Servicer, to: 

Wells Fargo Bank, National Association 
 Attention:
Corporate Trust Services/Structured Products Services 
 600 S 4th St. 

MAC N9300-061 

Minneapolis, MN 55415 
 Telephone: (612) 667-7181 
  

	 	(g)	 to any other Person as specified in the Indenture. 

Any of these entities may designate a different address in a notice to the others under this Section 10.05. 

Unless a party hereto otherwise prescribes with respect to itself, notices and other communications sent to an
e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been
sent at the opening of business on the next Business Day for the recipient. 

  
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 Section 10.05 Severability. If any part of this Agreement is held to be invalid or
otherwise unenforceable, the rest of this Agreement will be considered severable and will continue in full force. 
 Section 10.06 Further
Assurances. Each party must take all actions that are reasonably requested by any other party to effect more fully the purposes of this Agreement. The parties hereto agree to (a) provide access to the Contracts and related documentation in
their possession for inspection by governmental regulatory agencies and (b) assist in the preparation of any routine reports required by regulatory bodies, if any. 

Section 10.07 Nonpetition Covenant. (a) To the fullest extent permitted by law and notwithstanding any prior termination of this
Agreement, each of the Servicer, the Subservicers and the Issuer agree that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the Depositor to file, commence, join, or acquiesce in a petition or proceeding, that
causes (a) the Depositor to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the Depositor or any substantial part of its property.  
 (b) To the fullest extent permitted by law and notwithstanding any prior termination of this
Agreement, each of the Servicer, the Subservicers and the Depositor agree that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the Issuer to file, commence, join, or acquiesce in a petition or proceeding, that
causes (a) the Issuer to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the Issuer or any substantial part of its property. 

(c) Reserved. 
 (d) The parties hereto agree that the
provisions of this Section 10.07 shall survive the resignation or removal of any such party from this Agreement and the termination of this Agreement. 

Section 10.08 No Waiver; Cumulative Remedies. No failure to exercise or delay in exercising any right or remedy under this Agreement will
effect a waiver of that right or remedy. No single or partial exercise of any right or remedy under this Agreement will preclude any other or further exercise of that right or remedy or any other right or remedy. Except as otherwise expressly
provided, the rights, remedies, powers and privileges provided under this Agreement are cumulative and not exhaustive. 
 Section 10.09
Counterparts; Execution. This Agreement may be executed in any number of counterparts, each of which will be considered an original, but all of which together will constitute one agreement.    This Agreement shall
be valid, binding, and enforceable against a party only when executed by an authorized individual on behalf of the party by means of (i) an electronic signature that complies with the federal Electronic Signatures in Global and National
Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law including any relevant provisions of the UCC (collectively, “Signature Law”), in each case to the extent
applicable; (ii) an original manual signature; or (iii) a faxed, scanned, or photocopied manual signature. Each electronic signature or faxed, scanned, 

  
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or photocopied manual signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to
conclusively rely upon, and shall have no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or
authenticity thereof. Notwithstanding the foregoing, with respect to any notice provided for in this Agreement or any instrument required or permitted to be delivered hereunder, any party hereto receiving or relying upon such notice or instrument
shall be entitled to request execution thereof by original manual signature as a condition to the effectiveness thereof. 
 Section 10.10
Binding Effect; Third-Party Beneficiaries. This Agreement benefits and is binding on the parties hereto, and their respective successor and permitted assigns. Each of the Back-up Servicer, the Indenture
Trustee and the Owner Trustee are third-party beneficiaries to this Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto. 

Section 10.11 Merger and Integration. Except as specifically stated otherwise herein, this Agreement contains all of the terms and
conditions relating to its subject matter to which the parties have agreed. All prior understandings of any kind are superseded by this Agreement. 

Section 10.12 Headings. The headings are for reference only and must not affect the interpretation of this Agreement. 

Section 10.13 Schedules and Exhibits. All schedules and exhibits are fully incorporated into this Agreement. 

Section 10.14 Survival of Representations and Warranties. All representations, warranties, and covenants in this Agreement will survive the
conveyance of the Purchased Assets to the Issuer and the grant of a security interest in the Purchased Assets to the Indenture Trustee under the Indenture. 

Section 10.15 Limited Recourse. (a) Notwithstanding anything to the contrary contained herein, no recourse under or with respect to any
obligation, covenant or agreement of the Depositor as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the Depositor is a party shall be had against any incorporator,
stockholder, affiliate, officer, employee or director of the Depositor by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that the agreements
of the Depositor contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each case, solely corporate obligations of the Depositor. Notwithstanding any provisions
contained in this Agreement to the contrary, the Depositor shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due pursuant to this Agreement until payment in full of all amounts that the Depositor is
obligated to pay for deposit into the Collection Account and the Principal Distribution Account pursuant to this Agreement; and all amounts that the Depositor is obligated, in its capacity as depositor with respect to any Permitted Securitization,
to pay for deposit into any collection 

  
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account and any principal distribution account with respect to such Permitted Securitization pursuant to the sale and servicing agreement for such Permitted Securitization; provided, however,
that the Noteholders shall be entitled to the benefits of the subordination of the Collections allocable to the Trust Certificate to the extent provided in the Indenture. Any amount which the Depositor does not pay pursuant to the operation of the
preceding sentence shall not constitute a claim (as defined in §101 of the United States Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.), as amended from time to time) against or obligation of the Depositor for any such
insufficiency unless and until funds are available for the payment of such amounts as aforesaid. 
 (b) Notwithstanding anything to the contrary
contained herein, no recourse under or with respect to any obligation, covenant or agreement of the Issuer as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the Issuer is
a party shall be had against any incorporator, stockholder, affiliate, officer, employee or director of the Issuer by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being
expressly agreed and understood that the agreements of the Issuer contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each case, solely corporate obligations
of the Issuer. Notwithstanding any provisions contained in this Agreement to the contrary, the Issuer shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due pursuant to this Agreement other than in
accordance with the order of priorities set forth in Section 8.06 of the Indenture. Any amount which the Issuer does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the United
States Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.), as amended from time to time) against or obligation of the Issuer for any such insufficiency unless and until funds are available for the payment of such amounts as aforesaid. The
Issuer hereby acknowledges and agrees that it shall have no rights or recourse to (or claim against) the assets of any issuer or other issuing entity with respect to any Permitted Securitization (it being understood that this acknowledgement and
agreement shall not in any way limit the Issuer’s rights with respect to the Sold Assets). 
 (c) Reserved. 

(d) The parties hereto agree that the provisions of this Section 10.15 shall survive the resignation or removal of any such
party to this Agreement and the termination of this Agreement. 
 Section 10.16 Rights of the Indenture Trustee. The Indenture Trustee
shall be entitled to all of the same rights, protections, immunities and indemnities set forth in the Indenture, mutatis mutandis. 

Section 10.17 Reserved. 

Section 10.18 Intention of the Parties. It is the intention of the parties hereto that each transfer and conveyance contemplated by this
Agreement shall constitute an absolute sale of the related Sold Assets from the Depositor to the Issuer and that the related Sold Assets shall not be part of the Depositor’s estate or otherwise be considered property of the Depositor in the

  
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event of the bankruptcy, receivership, insolvency, liquidation, conservatorship or similar proceeding relating to the Depositor or any of each of its property. The intent expressed in the first
sentence of this paragraph should not be deemed to be an expression of the intended tax treatment of the conveyance of the Sold Assets. It is not intended that any amounts available for reimbursement of any Sold Assets be deemed to have been pledged
by the Depositor to the Issuer to secure a debt or other obligation of the Depositor. 
 Section 10.19 Additional Subservicers. The
Depositor agrees that, subject to the satisfaction of the conditions set forth below, any Affiliate of Regional Management may be added as a party to this Agreement (an “Accession”) as a “Subservicer” (each such
Person, an “Additional Subservicer”), upon the Depositor’s receipt of a written request from Regional Management requesting that such Additional Subservicer be added to this Agreement as a Subservicer at least five
(5) days prior to the first acquisition of Eligible Loans to be serviced by such Additional Subservicer: 
 (a) the Depositor shall have delivered
to the Indenture Trustee a fully executed copy of an Accession Agreement substantially in the form of Exhibit D hereto with respect to such Additional Subservicer; 

(b) there shall have been delivered to the Indenture Trustee (on behalf of the Noteholders) an Officer’s Certificate of Regional Management stating
that such Accession is not reasonably expected to result in an Adverse Effect; and 
 (c) as of the effective date of such Accession, the conditions
precedent applicable to such Additional Subservicer as set forth in Exhibit E shall have been fulfilled. 
 Upon the effectiveness of any
Accession, this Agreement shall be deemed amended to include the proposed Additional Subservicer as a “Subservicer” hereunder. For the avoidance of doubt, any Person to which the Servicer (including any Successor Servicer) has delegated
its duties hereunder in accordance with Section 6.07 shall not be subject to an Accession or be required to become a party to this Agreement. 

Section 10.20 Limitation of Liability of WTNA.  

(a) It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust, National
Association (“WTNA”), not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and
agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by WTNA but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall
be construed as creating any liability on WTNA, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by,
through or under the parties hereto, (d) WTNA has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Agreement and (e) under no circumstances shall WTNA be personally
liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Page 39 

 Section 10.21 EU Risk Retention. None of Regional Management, the Issuer, the Initial
Purchasers or their respective Affiliates or any other person intends to retain a material net economic interest in the transaction in accordance with the EU Securitization Regulation or take any other action that may be required by EU Institutional
Investors for the purpose of their compliance with the EU Securitization Regulation. 
 [Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Page 40 

 IN WITNESS WHEREOF, the Depositor, the Servicer, the Subservicers and the Issuer have caused this Sale
and Servicing Agreement to be duly executed by their respective officers as of the date first above written. 
  

			
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL MANAGEMENT CORP., as Servicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL FINANCE CORPORATION OF ALABAMA, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL FINANCE COMPANY OF GEORGIA, LLC, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer

  
 [Signature page to the Sale and
Servicing Agreement] 

 
			
	REGIONAL FINANCE COMPANY OF ILLINOIS, LLC, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL FINANCE COMPANY OF MISSOURI, LLC, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL FINANCE COMPANY OF NEW MEXICO, LLC, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL FINANCE COMPANY OF OKLAHOMA, LLC, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer

  
 [Signature page to the Sale and
Servicing Agreement] 

 
			
	REGIONAL FINANCE CORPORATION OF SOUTH CAROLINA, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL FINANCE CORPORATION OF TENNESSEE, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL FINANCE CORPORATION OF TEXAS, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer
	
	REGIONAL FINANCE COMPANY OF VIRGINIA, LLC, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer

  
 [Signature page to the Sale and
Servicing Agreement] 

 
			
	REGIONAL FINANCE CORPORATION OF WISCONSIN, as Subservicer
		
	By:	 	/s/ Harpreet Rana
	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
		 	    Financial Officer

  
 [Signature page to the Sale and
Servicing Agreement] 

 
			
	REGIONAL MANAGEMENT ISSUANCE TRUST 2021-3, as Issuer
		
	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee of the Issuer
		
	By:	 	/s/ Rachel Simpson
	Name: Rachel L. Simpson
	Title: Vice President

  
 [Signature page to the Sale and
Servicing Agreement] 

 ACKNOWLEDGED AND AGREED TO AS TO SECTIONS 6.05, 8.01 AND 8.02 BY: 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Indenture Trustee
		
	By:	 	/s/ Marianna Stershic
	Name: Marianna Stershic
	Title: Vice President

  
 [Signature page to the Sale and
Servicing Agreement] 

 Schedule I 

List of Subservicers 
 Regional Finance Corporation of Alabama

 Regional Finance Company of Georgia, LLC 
 Regional Finance Company of Illinois,
LLC 
 Regional Finance Company of Missouri, LLC 
 Regional Finance Company of New
Mexico, LLC 
 Regional Finance Company of Oklahoma, LLC 
 Regional Finance
Corporation of South Carolina 
 Regional Finance Corporation of Tennessee 

Regional Finance Corporation of Texas 
 Regional Finance Company of Virginia, LLC 

Regional Finance Corporation of Wisconsin 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule I 

 Schedule II 

Definitions Schedule and Rules of Construction 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II 

 PART A – Definitions Schedule 

“ABL Facility” shall mean the Seventh Amended and Restated Loan and Security Agreement, dated as of September 20, 2019, among the
lenders from time to time party thereto, Wells Fargo Bank, National Association, as agent, Regional Management and the other borrowers from time to time party thereto, as amended by the First Amendment to the Seventh Amended and Restated Loan and
Security Agreement, dated October 15, 2020, by the Second Amendment to the Seventh Amended and Restated Loan and Security Agreement, dated February 9, 2021, and by the Third Amendment to Seventh Amended and Restated Loan and Security
Agreement, dated as of August 23, 2021. 
 “Accession” shall have the meaning specified in Section 10.19 of this Agreement.

 “Accession Agreement” shall mean an accession agreement substantially in the form of Exhibit D of the Sale and Servicing
Agreement. 
 “Account Bank” shall have the meaning specified in Section 8.02(f) of the Indenture. 

“Act” or “Act of Noteholder” shall have the meaning specified in Section 11.03(a) of the Indenture. 

“Addition Date” shall mean, with respect to any Additional Loan, the effective date of the conveyance or allocation of such Additional
Loan, as specified in the applicable Additional Loan Assignment, which date shall be a Loan Action Date. 
 “Additional Cut-Off Date” shall mean (a) with respect to the Loan Purchase Agreement and each Additional Loan, the Cut-Off Date specified in the related Additional Loan
Assignment, (b) with respect to the Sale and Servicing Agreement and each Additional Loan, the Cut-Off Date specified in the related Additional Loan Assignment, (c) with respect to each Additional
Loan, the Cut-Off Date specified in the related Additional Loan Assignment, (d) with respect to each Purchase Agreement and each Additional Loan transferred pursuant thereto, the Cut-Off Date specified in the related Additional Loan Assignment, (e) with respect to the Omnibus Distribution and Assignment Agreement and each Additional Loan transferred pursuant thereto, the Cut-Off Date specified in the related Additional Loan Assignment, and (f) with respect to any Other Warehouse Purchase Agreement and each Additional Loan transferred pursuant thereto, the Cut-Off Date specified in the related Additional Loan Assignment (for the avoidance of doubt, with respect to an Additional Loan, the Cut-Off Date for such Additional Loan
pursuant to (a), (b), (c), (d), (e) or (f), as applicable, shall be the same date). 
 “Additional Loan” shall mean (a) with
respect to the Loan Purchase Agreement, each additional non-revolving personal loan that is sold to the Depositor pursuant to the Loan Purchase Agreement on an Addition Date, which, for the avoidance of doubt,
may include Loans acquired by the Seller from Regional Originators, (b) with respect to the Sale and Servicing Agreement, each additional non-revolving personal loan that is acquired by the Issuer
pursuant to the Sale and Servicing Agreement on an Addition Date, (c) with respect to each Purchase 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 1 

 
Agreement, each additional non-revolving personal loan that is sold to the Seller pursuant to such Purchase Agreement on each Addition Date, (d) with
respect to the Omnibus Distribution and Assignment Agreement, each additional non-revolving personal loan that is transferred to the Seller pursuant to the Omnibus Distribution and Assignment Agreement on each
Addition Date, and (e) with respect to any Other Warehouse Purchase Agreement, each additional non-revolving personal loan that is sold to the Seller pursuant to such Other Warehouse Purchase Agreement on
each Addition Date, which for the avoidance of doubt in each case shall include Branch Loans and Convenience Checks. 
 “Additional Loan
Assignment” shall mean (a) with respect to the Loan Purchase Agreement, a written assignment substantially in the applicable form attached to the Loan Purchase Agreement pursuant to which the Seller designates and assigns Additional
Loans to the Depositor, (b) with respect to the Sale and Servicing Agreement, a written assignment substantially in the applicable form attached to the Sale and Servicing Agreement pursuant to which the Depositor designates and further assigns
Additional Loans to the Issuer, (c) with respect to each Purchase Agreement, a written assignment substantially in the applicable form attached to such Purchase Agreement pursuant to which the related Warehouse Borrower designates and assigns
Additional Loans to the Seller, (d) with respect to the Omnibus Distribution and Assignment Agreement, a written assignment substantially in the applicable form attached to the Omnibus Distribution and Assignment Agreement pursuant to which one
or more Regional Originators designate and assign Additional Loans to the Seller, and (e) with respect to any Other Warehouse Purchase Agreement, a written assignment substantially in the applicable form attached to such Other Warehouse
Purchase Agreement pursuant to which the applicable warehouse borrowers designate and assign Additional Loans to the Seller. 
 “Additional
Loan Assignment Schedule” shall mean (a) with respect to the Purchase Agreement and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to the Purchase Agreement
on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule, (b) with respect to a purchase agreement between the borrower under a warehouse facility other than the Warehouse Facility
and the Seller and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to such purchase agreement on such Loan Action Date and the related information with respect thereto
required to be included in the Loan Schedule, (c) with respect to the Loan Purchase Agreement and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to the Loan Purchase
Agreement on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule and (d) with respect to the Sale and Servicing Agreement and any Loan Action Date, the schedule to the related
Additional Loan Assignment, listing the related Additional Loans conveyed pursuant to the Sale and Servicing Agreement on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule. 

“Additional Subservicer” shall have the meaning specified in Section 10.19 of this Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 2 

 “Adjusted Loan Principal Balance” shall mean, with respect to any Collection Period,
an amount equal to the Loan Principal Balance of all Loans in the Trust Estate, other than Charged-Off Loans and Excluded Loans, in each case, as of the close of business on the last day of such Collection
Period. 
 “Administration Agreement” shall mean the Administration Agreement, dated as of the Closing Date, among the Issuer, the
Administrator and the Depositor. 
 “Administrator” shall mean the Person acting in such capacity from time to time pursuant to and
in accordance with the Administration Agreement, which shall initially be Regional Management. 
 “Adverse Effect” shall mean, with
respect to any action, that such action will (a) result in the occurrence of an Early Amortization Event or an Event of Default or (b) materially and adversely affect the Noteholders. 

“Affiliate” of any specified Person shall mean any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any specified Person, shall mean the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Aggregate Note Balance” shall mean, as of any date of determination, the sum of the aggregate Note Balance as of such date of determination.

 “Amount Financed” shall mean, with respect to a Loan, the “amount financed” (as defined in the Federal Truth-in-Lending Act (15 U.S.C. § 1601 et. seq) and its implementing regulations) and as set forth in the Federal Truth in Lending disclosure in the related
Contract. 
 “Annual Percentage Rate” or “APR” shall mean, with respect to a personal loan in Regional’s
managed portfolio, the “annual percentage rate” (as defined in the Federal Truth-in-Lending Act (15 U.S.C. § 1601 et. seq) and its implementing
regulations) and as set forth in the Federal Truth in Lending disclosure in the related loan contract. If, after the Closing Date, the rate per annum with respect to a Loan as of the related Cut-Off Date
is reduced (i) as a result of an insolvency proceeding involving the related Loan Obligor or (ii) pursuant to the Servicemembers Civil Relief Act or similar State law, “Annual Percentage Rate” or “APR” shall refer to
such reduced rate. 
 “Applicable Law” shall mean, with respect to any Person, all existing and future applicable laws, rules,
regulations (including proposed, temporary and final income tax regulations), statutes, treaties, codes, ordinances, permits, certificates, orders and licenses of and interpretations by any Governmental Authority (including, but not limited to, the
federal Dodd-Frank Act; the Truth in Lending Act and its implementing regulation, Regulation Z, as these appeared under the Federal Reserve Board and, currently, under the CFPB; the Equal Credit Opportunity Act and its implementing regulation,
Regulation B, as these appeared under the Federal Reserve Board and, currently, under the CFPB; the Exchange Act; the Fair Credit 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 3 

 
Reporting Act, including Regulation V; the Fair Credit Billing Act; the Fair Debt Collection Practices Act; the Federal Trade Commission Act; the Relief Act; state adoptions of the foregoing
federal laws; state usury laws; and state-specific adoptions of the National Consumer Act and the Uniform Consumer Credit Code), and applicable judgments, decrees, injunctions, writs, orders or line actions of any court, arbitrator or other
administrative, judicial or quasi-judicial tribunal or agency of competent jurisdiction. 
 “Applicable Representations” shall have
the meaning specified in Section 3.03 of this Agreement. 
 “Assignment Agreement” shall mean (a) an agreement
substantially in the form of Exhibit A to the Purchase Agreement relating to the Loans and other Purchased Assets purchased by the Seller on the Closing Date and (b) an agreement substantially in the form of Exhibit A to the Loan Purchase
Agreement relating to the Loans and other Purchased Assets purchased by the Depositor on the Closing Date. 
 “Authoritative Copy”
means, with respect to any Contract that constitutes Electronic Chattel Paper, the authoritative copy thereof, as such term is used in Section 9-105 of the UCC. 

“Authorized Officer” shall mean: 

(a) with respect to the Issuer, (i) any officer of the Owner Trustee who is authorized to act for the Owner Trustee in matters relating to the
Issuer and who is identified on the list of Authorized Officers, containing the specimen signature of each such Person, delivered by the Owner Trustee to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from
time to time thereafter), (ii) any officer of the Administrator who is authorized to act for the Administrator in matters relating to the Issuer and who is identified on the list of Authorized Officers (containing the specimen signatures of such
officers) delivered by the Administrator to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter) and (iii) any officer of the Depositor who is authorized to act for the Depositor
in matters relating to the Issuer and who is identified on the list of Authorized Officers, containing the specimen signature of each such Person, delivered by the Depositor to the Indenture Trustee on the Closing Date (as such list may be modified
or supplemented from time to time thereafter); 
 (b) with respect to the Depositor, any officer of the Depositor who is identified on the list of
Authorized Officers (containing the specimen signature of each such Person) delivered by the Depositor to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter); 

(c) with respect to the Servicer, any President, Vice President, Treasurer, Secretary or Assistant Secretary of the Servicer or any other officer who is
authorized to act for the Servicer; 
 (d) Secretary or Assistant Secretary of the Seller or any other officer who is authorized to act for the Seller;
and 
 (e) with respect to the Indenture Trustee, any Responsible Officer. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 4 

 “Available Funds” for any Payment Date shall mean, without duplication, (a) the
Collections received in the Collection Account during the Collection Period, including any investment earnings in each of the Note Accounts, relating to such Payment Date (other than amounts permitted to be retained by the Servicer in respect of
Servicing Fees), (b) all amounts on deposit in the Reserve Account as of the related Monthly Determination Date, and (c) during the Revolving Period, all amounts on deposit in the Principal Distribution Account as of the commencement of such
Payment Date. 
 “Back-up Servicer” shall mean, initially, Wells Fargo Bank, National
Association, and at any other time, the Person then acting as “Back-up Servicer” pursuant to and in accordance with the Back-up Servicing Agreement. 

“Back-up Servicer Termination Event” shall mean any
Back-up Servicer Termination Event specified in Section 4.3 of the Back-up Servicing Agreement. 

“Back-up Servicing Agreement” shall mean the Back-up
Servicing Agreement, dated as of the Closing Date, among the Issuer, the Depositor, the Indenture Trustee, the Servicer and the Back-up Servicer pursuant to which the
Back-up Servicer has agreed to perform the back-up servicing duties specified therein for the benefit of the Issuer and the Noteholders. 

“Back-up Servicing Fee” shall mean, with respect to (i) any Payment Date other than the
Initial Payment Date, an amount equal to the greater of (a) $5,000 and (b) the product of (1) 0.05% multiplied by (2) the aggregate Loan Principal Balance as of the first day of the related Collection Period, multiplied by (3) one-twelfth, or (ii) the Initial Payment Date, an amount equal to the product of (x) 0.05%, multiplied by (y) the aggregate Loan Principal Balance as of the Closing Date, multiplied by (z) a
fraction, the numerator of which is the number of days from the Closing Date through the end of the initial Collection Period, and the denominator of which is 360. 

“Bankruptcy Code” shall mean Title 11 of the United States Code, 11 U.S.C. §§ 101 et seq., as amended. 

“Bankruptcy Loan” shall mean, to the extent reflected on the servicing systems of the Servicer, any Loan (a) with respect to which
all or any portion of the Loan Principal Balance thereof has been discharged and has not been reaffirmed by the related Loan Obligor, or (b) the Loan Obligor of which has filed, or there has been filed against such Loan Obligor, voluntary or
involuntary proceedings under the Bankruptcy Code or any other Debtor Relief Laws and such Loan has not been reaffirmed by the Loan Obligor in that proceeding. 

“Beneficial Interests” shall mean the beneficial interests in the Trust evidenced by the Trust Certificate. 

“Beneficial Owner” shall mean, with respect to any Book-Entry Note, the Person who is the beneficial owner of such Note as reflected on
the books of DTC or on the books of a Person maintaining an account with DTC (directly as a Participant or indirectly through a Participant, in accordance with the rules of DTC). 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 5 

 “Beneficiary” shall mean the registered holder of a Trust Certificate as reflected in
the register maintained pursuant to Section 10.01(d) of the Trust Agreement. Initially, the Depositor is the sole Beneficiary. 

“Book-Entry Notes” shall mean security entitlements to the Notes, ownership and transfers of which shall be made through book entries
by a Clearing Agency, as described in Section 2.04 of the Indenture. 
 “Branch Loan” shall mean a Loan originated through
Regional’s branches which include Electronic Loans. 
 “Business Day” shall mean any day other than (a) a Saturday or
Sunday or (b) any other day on which banking institutions in New York, New York, Minneapolis, Minnesota, Greer, South Carolina and Wilmington, Delaware or any other city in which the Corporate Trust Office of the Indenture Trustee or the Owner
Trustee or the principal executive offices of the Servicer or the Depositor, as the case may be, are located, are authorized or obligated by law, executive order or governmental decree to be closed or on which the fixed income markets in New York,
New York are closed. 
 “Certificate of Trust” shall mean the certificate of trust of the Trust, filed on March 10, 2021, with
the Office of the Secretary of State of the State of Delaware pursuant to the Delaware Statutory Trust Statute, and as amended by that certain certificate of amendment to the certificate of trust of the Trust, filed on June 29, 2021, with the
Office of the Secretary of State of the State of Delaware. 
 “CFPB” shall mean the U.S. Consumer Financial Protection Bureau
established by the Dodd-Frank Act within the Federal Reserve System. 
 “Charged-Off Loan”
shall mean any Loan (i) with respect to which a scheduled payment thereon remains unpaid for 180 days or more after the related due date for such payment (or such longer period as permitted in accordance with the Credit and Collection Policy),
or (ii) which has been charged off in full or in part by the Servicer (as reflected in the records of the Servicer), in each case in accordance with the Credit and Collection Policy. The Loan Principal Balance of any Loan that becomes a “Charged-Off Loan” will be deemed to be zero as of the date it becomes a “Charged-Off Loan.” 

“Clearing Agency” shall mean an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange
Act and serving as a clearing agency for Book-Entry Notes or a Series of Book-Entry Notes. 
 “Clearstream” shall mean Clearstream
Banking, société anonyme, a professional depository incorporated under the laws of Luxembourg, and its successors. 

“Closing Date” shall mean October 8, 2021. 

“Collection Account” shall have the meaning specified in Section 8.02(a)(i) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 6 

 “Collection Period” shall mean, with respect to each Payment Date, the immediately
preceding calendar month; provided, however, that the initial Collection Period will commence on the day immediately following the Initial Cut-Off Date and end on (and include) the last day of
the calendar month immediately preceding the Initial Payment Date. 
 “Collections” shall mean all amounts collected on or in respect
of the Loans after the applicable Cut-Off Date, including scheduled loan payments (whether received in whole or in part, whether related to a current, future or prior due date, whether paid voluntarily by a
Loan Obligor or received in connection with the realization of the amounts due and to become due under any defaulted Loan or upon the sale of any property acquired in respect thereof), all partial prepayments, all full prepayments, recoveries,
insurance proceeds or any other form of payment. 
 “Contract” shall mean, with respect to any Loan, the fully executed original (or,
in the case of a Convenience Check, a copy), electronically authenticated original or authoritative copy (in each case, within the meaning of the UCC) of any non-revolving promissory note and security
agreement or other form of personal loan contract entered into by a Loan Obligor under which an extension of credit by a Regional Originator was made in the ordinary course of business of such Regional Originator, which contract contains the terms
and conditions applicable to such Loan and any applicable Truth in Lending disclosure related thereto, in each case, as amended and in effect from time to time, including any related written allonges or extensions thereto. 

“Convenience Checks” shall mean personal loans originated through Regional’s convenience check direct mail campaigns. 

“Conveyance Papers” shall have the meaning specified in Schedule IV to this Agreement. 

“Corporate Trust Office” shall have the meaning (a) when used in respect of the Owner Trustee, the address of the Owner Trustee at
Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, Attn: Corporate Trust Administration, and (b) when used in respect of the Indenture Trustee or the Back-up Servicer, the address
of the Indenture Trustee at Wells Fargo Center, 600 S. 4th Street, Minneapolis, Minnesota 55415, Attn: Asset-Backed Securities Department. 

“Credit and Collection Policy” shall mean the credit and collection policies and practices and procedures maintained by the Servicer
relating to the Loans, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the Sale and Servicing Agreement. If there is a Successor Servicer, “Credit and Collection Policy” shall mean the
customary and usual servicing, administration and collection practices and procedures used by servicing companies of comparable experience to the Successor Servicer for servicing personal loans comparable to the Loans which the Successor Servicer
services for its own account, as the same may be amended, supplemented or otherwise modified from time to time. 
 “Custodian” shall
mean the Servicer, in its capacity as custodian of the Contracts under the Sale and Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 7 

 “Cut-Off Date” shall mean the Initial Cut-Off Date or any Additional Cut-Off Date, as applicable. 
 “DBRS
Morningstar” shall mean DBRS, Inc., or any successor. 
 “Debtor Relief Laws” shall mean (i) the Bankruptcy Code and
(ii) all other applicable liquidation, conservatorship, bankruptcy, moratorium, arrangement, receivership, insolvency, reorganization, suspension of payments, adjustment of debt, marshalling of assets or similar debtor relief laws of the United
States, any state or any foreign country from time to time in effect affecting the rights of creditors generally. 
 “Definitive
Notes” shall mean the Notes issued in fully registered, certificated form issued to the owners of such Notes or their nominee. 

“Delaware Secretary of State” shall mean the Office of the Secretary of State of the State of Delaware. 

“Delaware Statutory Trust Statute” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq., as amended
from time to time. 
 “Delinquent Loan” shall mean a Loan, other than a Charged-Off Loan,
with respect to which a scheduled monthly payment thereon remains unpaid for 60 days or more from the related due date in accordance with the Credit and Collection Policy as reflected in the records of the Servicer or the applicable Subservicer.

 “Delinquent Renewal” shall mean, with respect to any Loan in the Trust Estate, a transaction in which a new non-revolving personal loan originated pursuant to a Contract is entered into between a Regional Originator and a Loan Obligor, which new non-revolving personal loan
(x) is originated in accordance with Regional’s delinquent renewal underwriting criteria as set forth in its Credit and Collection Policy, (y) refinances such Loan in full or in part, and (z) may also extend additional financing
to such Loan Obligor. 
 “Delinquent Renewal Loan” shall mean the new non-revolving personal
loan entered into between the applicable Regional Originator and the Loan Obligor pursuant to any Delinquent Renewal. 
 “Deliveries”
shall have the meaning specified in Section 12.02 of the Trust Agreement. 
 “Demand” shall have the meaning specified in
Section 6.14(a) of the Indenture. 
 “Depositor” shall mean Regional Management Receivables III, LLC, a limited liability
company formed and existing under the laws of the State of Delaware, and its permitted successors and assigns. 
 “Depositor LLC
Agreement” shall mean the Amended and Restated Limited Liability Company Agreement of the Depositor, dated as of June 27, 2018. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 8 

 “Direct Depositor Breach” shall have the meaning specified in Section 2.06(a) of
this Agreement. 
 “Directing Holder” shall mean (a) so long as the Indenture shall not have terminated, the Required
Noteholders, and (b) in all other instances, the holder or holders of more than 50% of the voting power of the Beneficial Interests. 

“Disqualification Event” with respect to the Owner Trustee shall mean (a) the bankruptcy, insolvency or dissolution of the Owner
Trustee, (b) the occurrence of the date of resignation of the Owner Trustee, as set forth in a notice of resignation given pursuant to Section 8.01 of the Trust Agreement, (c) the delivery to the Owner Trustee of the instrument or
instruments of removal referred to in Section 8.01 of the Trust Agreement (or, if such instruments specify a later effective date of removal, the occurrence of such later date), or (d) the failure of the Owner Trustee to qualify under the
requirements of Section 8.03 of the Trust Agreement. 
 “Distribution Compliance Period” shall have the meaning specified in
Section 2.05(b) of the Indenture. 
 “Dodd-Frank Act” shall mean the Dodd-Frank Wall Street Reform and Consumer Protection Act,
which was signed into law on July 21, 2010. 
 “Dollars,” “$” or “U.S. $” shall mean
(a) U.S. dollars or (b) denominated in U.S. dollars. 
 “DTC” shall mean The Depository Trust Company, a New York
corporation. 
 “Early Amortization Event” shall mean any Early Amortization Event specified in Section 5.01 of the Indenture.

 “Electronic Chattel Paper” shall have the meaning specified in Article 9 of the UCC. 

“Electronic Collateral Control Agreement” shall mean that certain Electronic Collateral Control Agreement, dated as of the date hereof,
by and among the Indenture Trustee, the Issuer, Regional Management and eOriginal, Inc., as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Electronic Contract” shall mean a Contract that was electronically executed and authenticated; provided, that an Electronic Contract
that has been Exported shall not constitute an Electronic Contract. 
 “Electronic Loan” shall mean a Loan entered into by an
applicant who is a current or former Regional borrower, with respect to which the loan documentation is entered into electronically at a branch or remotely through the internet. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 9 

 “Electronic Vault” shall mean the electronic vault wherein custody of Electronic
Contracts shall be maintained in electronic form by the Servicer (in its capacity as custodian under the Transaction Documents) (or any successor servicer), in each case, through a third-party Electronic Vault Provider that enables electronic
contracting pursuant to the related electronic vault services agreement. 
 “Electronic Vault Provider” shall mean eOriginal, Inc., a
Delaware corporation, and any successor or replacement third-party provider of the technology platform on which the Electronic Vault operates acting in such capacity with the consent of the Indenture Trustee (with the written consent of the Required
Noteholders). 
 “Electronic Vault Services Agreement” shall mean any agreement between Regional Management and the Electronic Vault
Provider that provides for services related to the Electronic Vault. 
 “Electronic Vault System” shall mean the electronic vault
system provided by the Electronic Vault Provider pursuant to the Electronic Vault Services Agreement or such other electronic system provider as may be mutually agreed upon by the Issuer, Regional Management and the Indenture Trustee (with the
written consent of the Required Noteholders) that enables electronic contracting. 
 “Eligible Deposit Account” shall mean either
(a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States or any one of the states thereof,
including the District of Columbia (or any domestic branch of a foreign bank), and acting as a trustee for funds deposited in such account, so long as either (x) (A) such depository institution has a long-term issuer credit rating of
“A” or higher from S&P and a long-term issuer credit rating of “Baa1” or higher from Moody’s and (B) any of the unsecured, unguaranteed senior debt securities of such depository institution shall have a credit
rating from Moody’s in one of its generic credit rating categories that signifies “Baa2” or higher, or (y) the Required Noteholders approve such segregated trust account in writing. Notwithstanding the foregoing, an account
maintained with the corporate trust department of Wells Fargo, any entity purchasing such trust department from Wells Fargo or such purchasing entity’s designee or agent shall be considered an Eligible Deposit Account for the purpose of this
definition, so long as such party meets the ratings in clauses (x)(A) and (x)(B) in the immediately preceding sentence. 
 “Eligible
Institution” shall mean a depository institution organized under the laws of the United States of America or any one of the states thereof, including the District of Columbia (or any domestic branch of a foreign bank), which at all times
has (a)(i) a long-term unsecured debt rating of “A2” or better by Moody’s and (ii) a certificate of deposit rating of “P-1” or better by Moody’s and (b)(i) a long-term issuer
credit rating of “A” or better by S&P and a long-term issuer credit rating of “Baa1” or better by Moody’s or (ii) a short-term issuer credit rating of “A-1+” or
better by S&P and a short-term issuer credit rating of “P-1” or better by Moody’s. If so qualified, any of the Indenture Trustee or the Administrator may be considered an Eligible
Institution for the purposes of this definition. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 10 

 “Eligible Investments” shall mean book-entry securities, negotiable instruments or
securities represented by instruments in bearer or registered form which have maturities of no later than the Business Day immediately prior to the next succeeding Payment Date (unless payable on demand, in which case such securities or instruments
may mature on such next succeeding Payment Date) and which evidence: 
 (a) direct obligations of, and obligations fully guaranteed as
to timely payment by, the United States of America; 
 (b) demand deposits, time deposits or certificates of deposit (having original
maturities of no more than 365 days) of depository institutions or trust companies incorporated under the laws of the United States of America or any state thereof (or domestic branches of foreign banks) and subject to supervision and examination by
federal or state banking or depository institution authorities; provided that at the time of the Issuer’s investment or contractual commitment to invest therein, the short-term debt rating of such depository institution or trust company will be
rated “R-1(high)” or higher by DBRS Morningstar and “AA-“ or “A-1+” by S&P; 

(c) commercial paper (having remaining maturities of no more than 30 days) having, at the time of the Issuer’s investment or
contractual commitment to invest therein, a rating of “R-1(high)” or higher from DBRS Morningstar and a rating of “A-1” or higher from S&P; 

(d) investments in money market funds rated “AAAm” or higher by S&P and an equivalent rating by DBRS Morningstar or
otherwise approved in writing by DBRS Morningstar, if rated by DBRS Morningstar; 
 (e) demand deposits, time deposits and certificates
of deposit (having original maturities of no more than 365 days) which are fully insured by the Federal Deposit Insurance Corporation, having at the time of the Issuer’s investment or contractual commitment to invest therein, a rating of “A-1+” by S&P and an equivalent rating by DBRS Morningstar; 
 (f) notes or
bankers’ acceptances (having original maturities of no more than 365 days) issued by any depository institution or trust company referred to in (b) above; or 

(g) time deposits, other than as referred to in clause (e) above (having original maturities of no more than 365 days), with a
Person (i) the commercial paper of which is rated “A-1+” by S&P and an equivalent rating by DBRS Morningstar or (ii) that has a long-term unsecured debt rating of “A+” or
higher by S&P and an equivalent rating by DBRS Morningstar. 
 Eligible Investments may be purchased by or through the Indenture Trustee or any of its Affiliates
and may include proprietary funds offered or managed by Wells Fargo or an Affiliate thereof. 
 “Eligible Loan” shall mean a
Loan that, as of the applicable Cut-Off Date: (i) is not categorized as a Bankruptcy Loan, (ii) is either an interest-bearing loan or a Precompute Loan, (iii) has a fixed-rate of interest,
(iv) is denominated in U.S. dollars, (v) the maturity date therefor had not occurred, (vi) is not a Delinquent Loan or a Charged-Off Loan, (vii) is not a Revolving

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 11 

 
Loan, (viii) if the related Contract is an Electronic Contract, it is an Electronic Loan, (ix) was originated in all material respects in accordance with the Credit and Collection
Policy in effect as of the date of origination of such Loan, (x) has an origination term of not more than 72 months, (xi) in connection with the origination thereof, a Contract was created, (xii) is not secured by real property,
(xiii) has an Amount Financed that is greater than $500 and less than $25,000, (xiv) the collateral that secures such Loan had not been, and was not in the process of being, repossessed, (xv) is not an Extension Loan, (xvi) the
related Contract is not a Modified Contract, (xvii) has an original and current APR equal to or greater than 5.00% and equal to or less than 70.00%, (xviii) is not subject to litigation or legal proceedings, (xix) the Loan Obligor of which
had a FICO® score at the time of origination and such FICO® score was at least 425 (or, in the case of a Loan with two Loan Obligors,
based on the higher of the two FICO® scores at origination), and (xx) is not a Delinquent Renewal Loan for which no payment has been made since the related Delinquent Renewal. 

“Eligible Servicer” shall mean the Indenture Trustee, Regional Management, the Back-up Servicer
or an entity which, at the time of its appointment as Servicer, (a)(i) is the surviving Person of a merger or consolidation with, or the transferee of all or substantially all of the assets of, Regional Management in a transaction otherwise
complying with the relevant terms of the Sale and Servicing Agreement, (ii) is servicing a portfolio of personal loans, (iii) is legally qualified and has the capacity (in each case, either directly or through one or more subservicers) to
service and administer the Loans in accordance with the Sale and Servicing Agreement and (iv) is qualified to use the software that is then being used to service the Loans or obtains the right to use or has its own software which is adequate to
perform its duties under the Sale and Servicing Agreement or (b)(i) is servicing a portfolio of personal loans, (ii) is legally qualified and has the capacity (in each case, either directly or through one or more subservicers) to service and
administer Loans in accordance with the Sale and Servicing Agreement, (iii) has demonstrated the ability to service professionally and competently a portfolio of loans which are similar to the Loans in accordance with high standards of skill
and care and (iv) is qualified to use the software that is then being used to service the Loans or obtains the right to use or has its own software which is adequate to perform its duties under the Sale and Servicing Agreement. 

“Encumbrance” shall mean any security interest, mortgage, claim, charge (fixed or floating), deed of trust, pledge, hypothecation,
assignment, deposit arrangement, equity interest, encumbrance, lien (statutory or other), preference, participation interest, priority or other security agreement or preferential arrangement of any kind or nature whatsoever, including any
conditional sale or other title retention agreement, or any financing lease having substantially the same economic effect as any of the foregoing, and the filing of any financing statement under the UCC or comparable law of any jurisdiction to
evidence any of the foregoing; provided, however, that any assignment permitted by Section 2.05 of, and the lien created by, the Sale and Servicing Agreement shall not be deemed to constitute an Encumbrance; provided further, however, that each
of (a) the lien created in favor of the Depositor under the Loan Purchase Agreement, (b) the lien created in favor of the Issuer under the Sale and Servicing Agreement and (c) the lien created in favor of the Indenture Trustee under
the Indenture shall not be deemed to constitute an Encumbrance. 
 “ERISA” shall mean the Employee Retirement Income Security Act of
1974, as amended. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 12 

 “EU Institutional Investor” means an institutional investor as such term is defined
in Article 2(12) of the EU Securitization Regulation. 
 “EU Securitization Regulation” means European Union legislation comprising
EU Regulation (EU) 2017/2402. 
 “Euroclear” shall mean the Euroclear System. 

“Event of Default” shall have the meaning specified in Section 5.02 of the Indenture. 

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

“Excluded Loan” shall have the meaning specified in Section 8.07(iii) of the Indenture. 

“Exported” shall mean, with respect to a Contract, the Servicer (acting at the written direction of the Indenture Trustee) or the
Indenture Trustee has decommissioned the related Electronic Contract and the Authoritative Copy (in the case of an Electronic Contract that constitutes Electronic Chattel Paper) or the electronically authenticated original record (in the case of an
Electronic Contract that does not constitute Electronic Chattel Paper), as applicable, of such Contract is printed out pursuant to a “Paper Out”TM within the meaning specified in the
System Description. “Export” and “Exporting” shall have correlative meanings. 
 “Extension Loan”
shall mean, as of any date of determination, a personal loan contract with respect to which the time for payment of any scheduled monthly payment due under such personal loan contract has been extended for more than two months (in the aggregate)
within the twelve-month period preceding such date of determination; provided, that if any payment extension in respect of a personal loan is granted (i) due to the declaration of a state of emergency by the governor of a U.S. state or the
President of the United States, or (ii) due to the enactment of laws, regulations, executive orders or other guidance by any governmental authority (including federal, state or local governments), that mandates the granting of a payment
deferral or extension or prevents collection activities with respect to such loan, then, in the case of clause (i) or (ii), such extension shall not be counted for purposes of determining whether such personal loan contract constitutes an
“Extension Loan.” 
 “FATCA” shall have the meaning specified in Section 11.17(a) of the Indenture. 

“FATCA Withholding Tax” shall have the meaning specified in Section 11.17(a) of the Indenture. 

“Federal Reserve Board” shall mean the Board of Governors of the Federal Reserve System. 

“First Priority Principal Payment” shall mean, with respect to any Payment Date, (a) at any time prior to the occurrence of an
Event of Default, an amount equal to the excess (if any) of (i) the Note Balance as of the end of the related Collection Period over (ii) the Adjusted Loan Principal Balance as of the end of the related Collection Period and (b) at
any time from and after the occurrence of an Event of Default or on or after the Stated Maturity Date in respect of the Notes, the Note Balance. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 13 

 “Force Majeure Event” shall mean an event that occurs as a result of an act of God,
an act of the public enemy, acts of declared or undeclared war (including acts of terrorism), public disorder, rebellion, sabotage, disease, quarantine, epidemics, pandemics, landslides, lightning, fire, hurricanes, earthquakes, floods, other
natural disasters, or the declaration of a state of emergency by the governor of a U.S. state or the President of the United States. 

“Global Note” shall mean a Rule 144A Global Note or a Regulation S Global Note. 

“Governmental Authority” shall mean any federal, state, municipal, national, local or other governmental department, court, commission,
board, bureau, agency, intermediary, carrier or instrumentality or political subdivision thereof, or any entity or officer exercising executive, legislative, judicial, quasi-judicial, regulatory or administrative functions of or pertaining to any
government or any court, in each case, whether of the United States or a state, territory or possession thereof, a foreign sovereign entity or country or jurisdiction or the District of Columbia. 

“Grant” shall mean to grant, bargain, warrant, alienate, remise, demise, release, convey, assign, transfer, mortgage, pledge, grant a
security interest in, create a right of set-off against, deposit, set over and confirm. A Grant of any item of the Trust Estate shall include all rights, powers and options (but none of the obligations) of the
granting party thereunder, including without limitation the immediate and continuing right to claim for, collect, receive and give receipt for principal and interest payments in respect of such item of the Trust Estate, and all other monies payable
thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring any suit in equity, action at law or other judicial or administrative proceeding in the name of the
granting party or otherwise, and generally to do and receive anything that the granting party may be entitled to do or receive thereunder or with respect thereto. 

“Hard Secured Loan” shall mean a Branch Loan that is, as of the date of the origination thereof, secured by a lien on one or more
Titled Assets. 
 “Indemnified Parties” shall have the meaning specified in Section 6.02 of the Loan Purchase Agreement or
Section 11.02 of the Trust Agreement, as applicable. 
 “Indenture” shall mean the Indenture, dated as of the Closing Date,
among the Issuer, the Indenture Trustee, the Account Bank and the Servicer, as the same may be amended, supplemented or otherwise modified from time to time. 

“Indenture Trustee” shall mean Wells Fargo Bank, National Association, in its capacity as indenture trustee under the Indenture, its
successors in interest and any successor indenture trustee under the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 14 

 “Independent” shall mean, when used with respect to any specified Person, that the
Person (a) is in fact independent of the Issuer, any other obligor upon the Notes, the Depositor, and any Affiliate of any of the foregoing Persons, (b) does not have any direct financial interest or any material indirect financial
interest in the Issuer, any such other obligor, the Depositor or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuer, any such other obligor, the Depositor or any Affiliate of any of the foregoing Persons as
an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions. 
 “Independent
Manager” shall have the meaning specified in the Depositor LLC Agreement. 
 “Initial Cut-Off
Date” shall mean August 31, 2021. 
 “Initial Loan” shall mean (a) with respect to the Loan Purchase Agreement,
each non-revolving personal loan that is sold to the Depositor pursuant to the Loan Purchase Agreement on the Closing Date, (b) with respect to the Sale and Servicing Agreement, each non-revolving personal loan that is acquired by the Issuer pursuant to the Sale and Servicing Agreement on the Closing Date, (c) with respect to the Purchase Agreement, each
non-revolving personal loan that is sold to the Seller pursuant to the Purchase Agreement on the Closing Date, (d) with respect to the Omnibus Distribution and Assignment Agreement, each non-revolving personal loan that is transferred to the Seller pursuant to the Omnibus Distribution and Assignment Agreement on the Closing Date, and (e) with respect to any Other Warehouse Purchase Agreement,
each non-revolving personal loan that is sold to the Seller pursuant to such Other Warehouse Purchase Agreement on the Closing Date, which for the avoidance of doubt in each case shall include Branch Loans and
Convenience Checks. 
 “Initial Loan Assignment” shall mean a written agreement substantially in the form of Exhibit A-1 to the Sale and Servicing Agreement relating to the Loans and other Sold Assets acquired by the Issuer on the Closing Date. 

“Initial Note Balance” shall mean $125,000,000. 

“Initial Payment Date” shall mean November 15, 2021. 

“Initial Purchaser” shall mean each of (i) ###, (ii) ###, (iii) ###, (iv) ###, (v) ###, (vi) ###, (vii) ###, (viii) ###, (ix) ###, (x)
### and (xi) ###. 
 “Insolvency Event” with respect to any Person, shall occur if (a) such Person shall file a petition or
commence a Proceeding (i) to take advantage of any Debtor Relief Law or (ii) for the appointment of a trustee, conservator, receiver, liquidator, or similar official for or relating to such Person or all or substantially all of its
property, or for the winding up or liquidation of its affairs, (b) such Person shall consent or fail to object to any such petition filed or Proceeding commenced against or with respect to it or all or substantially all of its property, or any
such petition or Proceeding shall not have been dismissed or stayed within sixty (60) days of its filing or commencement, or a court, agency, or other supervisory authority with jurisdiction shall have decreed or ordered relief with respect to
any such petition or Proceeding, (c) such Person shall admit in writing its inability to pay its debts generally as they become due, (d) such Person shall make an assignment for the benefit of its creditors, (e) such Person shall
voluntarily suspend payment of its obligations, or (f) such Person shall take any action in furtherance of any of the foregoing. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 15 

 “Intercreditor Agreement” shall mean (a) that certain Third Amended and Restated
Intercreditor Agreement, dated as of September 20, 2019, by and among Regional Management, Wells Fargo Bank, National Association, as agent, the Intercreditor Collateral Agent, Regional Management, as servicer under each Warehouse Facility and
the Outstanding Securitizations, Wells Fargo Bank, National Association, acting through its Corporate Trust Services division, as pre-approved Third Party Allocation Agent, each Warehouse Borrower, as a
special purpose subsidiary for its related Warehouse Facility, Credit Suisse AG, New York Branch, as administrative agent under its related Warehouse Facility, Wells Fargo Bank, National Association, as administrative agent under its related
Warehouse Facility, JPMorgan Chase Bank, N.A., as administrative agent under its related Warehouse Facility, Regional Management, Regional Finance Corporation of South Carolina, Regional Finance Corporation of Georgia, Regional Finance Corporation
of Texas, Regional Finance Corporation of North Carolina, Regional Finance Corporation of Alabama, Regional Finance Corporation of Tennessee, Regional Finance Company of Oklahoma, LLC, Regional Finance Company of New Mexico, LLC, Regional Finance
Company of Missouri, LLC, Regional Finance Company of Georgia, LLC, Regional Finance Company of Mississippi, LLC, Regional Finance Company of Louisiana, LLC, RMC Financial Services of Florida, LLC, Regional Finance Company of Kentucky, LLC, Regional
Finance Company of Virginia, LLC, Regional Finance Corporation of Wisconsin and Regional Finance Company of Illinois, LLC, as Regional borrowers, the 2019-1 Issuer, the
2020-1 Issuer, the 2021-1 Issuer and the 2021-2 Issuer, as special purpose subsidiaries for the Outstanding Securitizations,
Credit Recovery Associates, Inc. and Upstate Motor Company, as guarantors of the Regional borrowers, the 2019-1 Indenture Trustee, the 2020-1 Indenture Trustee, the 2021-1 Indenture Trustee and the 2021-2 Indenture Trustee, as administrative agents for the Outstanding Securitizations, and any trustee, custodian, collateral agent, paying
agent or other person authorized on behalf of a Related Secured Party, as the same may be amended, supplemented or otherwise modified from time to time, and (b) that certain joinder to the document described in clause (a) above, executed
by the Indenture Trustee, the Issuer and the other parties thereto on the Closing Date. 
 “Intercreditor Security Agreement” shall
mean (a) that certain Second Amended and Restated Security Agreement, dated as of September 20, 2019, by and among Regional Management, Regional Finance Corporation of South Carolina, Regional Finance Corporation of Georgia, Regional
Finance Corporation of Texas, Regional Finance Corporation of North Carolina, Regional Finance Corporation of Alabama, Regional Finance Corporation of Tennessee, Regional Finance Company of Oklahoma, LLC, Regional Finance Company of New Mexico, LLC,
Regional Finance Company of Missouri, LLC, Regional Finance Company of Georgia, LLC, Regional Finance Company of Mississippi, LLC, Regional Finance Company of Louisiana, LLC, RMC Financial Services of Florida, LLC, Regional Finance Company of
Illinois, LLC, Regional Finance Company of Kentucky, LLC, Regional Finance Company of Virginia, LLC and Regional Finance Corporation of Wisconsin, as ABL borrowers, Credit Recovery Associates, Inc. and Upstate Motor Company, as guarantors, each
Warehouse Borrower and each additional grantor that is a signatory or becomes a signatory thereunder, including the 2019-1 Issuer, the 2020-1 Issuer, the 2021-1 Issuer and the 2021-2 Issuer, as entered into for the benefit of the Intercreditor Collateral Agent, as collateral agent for the Lender Agents, as the same may be
amended, supplemented or otherwise modified from time to time, and (b) that certain joinder to the document described in clause (a) above, executed by the Issuer and the other parties thereto on the Closing Date. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 16 

 “Interest Period” shall mean, with respect to any Payment Date, the period from and
including the Payment Date immediately preceding such Payment Date to but excluding such Payment Date (or, in the case of the Initial Payment Date, the period from and including the Closing Date to but excluding such Payment Date). 

“Interest Rate” shall mean shall mean 3.875% per annum. 

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

“Investment Company Act” shall mean the Investment Company Act of 1940, as amended. 

“Investor Regulatory Call” shall have the meaning specified in Section 8.08(c) of the Indenture. 

“Investor Regulatory Call Amount” shall have the meaning specified in Section 8.08(c) of the Indenture. 

“IRS” shall mean the U.S. Internal Revenue Service. 

“Issuer” shall mean Regional Management Issuance Trust 2021-3, a statutory trust organized and
existing under the laws of the State of Delaware, and its permitted successors and assigns. 
 “Issuer Loan Release” shall have the
meaning specified in Section 8.07(v) of the Indenture. 
 “Issuer Order” shall mean a written order or request signed in the
name of the Issuer by an Authorized Officer and delivered to the Indenture Trustee. 
 “Later-Sold Note” shall have the meaning
specified in Section 3.14(c) of the Indenture. 
 “Lender Agents” shall mean the agent under the ABL Facility and the agent
under the Warehouse Facility. 
 “Lien” shall mean, with respect to any property, any mortgage, deed of trust, pledge, hypothecation,
assignment, deposit arrangement, equity interest, encumbrance, lien (statutory or other), preference, participation interest, priority or other security agreement or preferential arrangement of any kind or nature whatsoever relating to that
property, including any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing and the filing of any financing statement under the UCC or comparable law of any
jurisdiction to evidence any of the foregoing. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 17 

 “Liquidation Proceeds” shall mean, for any Collection Period and any Charged-Off Loan, the amount (which shall not be less than zero) received by the Servicer and deposited into the Collection Account after such Loan became a Charged-Off Loan,
in connection with the attempted realization of the full amounts due or to become due under such Loan, whether from the sale or other disposition of any underlying collateral securing the related Contract, the proceeds of repossession or any
collection effort, the proceeds of recourse or similar payments payable in respect of such Loan, or otherwise, net of any amounts required by Applicable Law to be remitted to the related Loan Obligor and net of any reasonable out-of-pocket expenses (exclusive of overhead) incurred by the Servicer with respect to the collection and enforcement of such Loan, to the extent not previously reimbursed to
the Servicer. 
 “Loan” shall mean any Initial Loan or Additional Loan, but excluding any Loan that has been reassigned to the Seller
pursuant to Section 6.01 of the Loan Purchase Agreement or otherwise in accordance with the Transaction Documents. 
 “Loan
Action” shall have the meaning specified in Section 8.07 of the Indenture. 
 “Loan Action Date” shall mean any Payment
Date. 
 “Loan Action Date Aggregate Principal Balance” shall mean, for any Loan Action Date, the aggregate Loan Action Date Loan
Principal Balance for all Loans in the Loan Action Date Loan Pool for such Loan Action Date. 
 “Loan Action Date Loan Pool” shall
mean, for any Loan Action Date, all Loans that (a)(i) constitute part of the Trust Estate and are not Charged-Off Loans, in each case, as of the end of the Collection Period immediately preceding such Loan
Action Date, or (ii) are added to the Trust Estate on such Loan Action Date; (b) have not ceased to be part of the Trust Estate after the end of the Collection Period immediately preceding such Loan Action Date, including as a result of
any Loan Actions on such Loan Action Date; and (c) are not, following the Loan Actions to be taken on such Loan Action Date, designated as Excluded Loans. 

“Loan Action Date Loan Principal Balance” shall mean, for any Loan and any Loan Action Date, the Loan Principal Balance of such Loan as
of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date. 
 “Loan File” shall
mean, with respect to each Loan, (i)(w) in the case of a Contract (other than an Electronic Contract or a Convenience Check), the original fully executed Contract, including, in the case of a Contract which has been Exported, the physical rendering
of the related Electronic Contract produced upon Export, together with the related document history report, (x) in the case of an Electronic Contract that constitutes Electronic Chattel Paper, a single Authoritative Copy of the executed
Contract, (y) in the case of an Electronic Contract that does not constitute Electronic Chattel Paper, the electronically authenticated original record of the executed Contract, and (z) in the case of a Convenience Check, a copy of the
Contract, and (ii) any additional original executed documents, if any, evidencing a modification to any of the foregoing documents, whether executed physically or electronically and whether maintained in tangible or electronic form; provided,
that with respect to clauses (i)(x) and (i)(y), the Electronic Contract is maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee (for the benefit of the Noteholders) in the Electronic Vault pursuant to
Section 3.11(b) of the Sale and Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 18 

 “Loan Obligor” shall mean any borrower,
co-borrower, guarantor, or other obligor with respect to a Loan. In respect of each Loan, if there is more than one Loan Obligor (husband and wife, for example), references herein to Loan Obligor shall mean
any or all of such Loan Obligors, as the context may require. 
 “Loan Pool” shall mean the pool of Loans. 

“Loan Principal Balance” shall mean as of any determination date with respect to (a) a Loan other than a Precompute Loan, the
outstanding principal balance of such Loan and (b) a Loan that is a Precompute Loan, the calculated principal balance of such Precompute Loan, which is the result of (x) the remaining unpaid amount due in respect of such Precompute Loan
minus (y) the unearned interest on such Precompute Loan calculated on an accrual basis, provided, that the Loan Principal Balance of any Loan a portion of which has been charged off in accordance with the Credit and Collection Policy
shall be reduced by the portion so charged off. 
 “Loan Purchase Agreement” shall mean the Loan Purchase Agreement, dated as of the
Closing Date, between the Seller and the Depositor. 
 “Loan Reassignment” shall mean a Loan Reassignment in substantially the form
of Exhibit C hereto. 
 “Loan Schedule” shall mean a complete schedule prepared by the Servicer on behalf of the Seller and the
Depositor identifying all Loans sold by the Seller to the Depositor on the initial Closing Date, and which Loans, in turn, are sold by the Depositor to the Issuer on the initial Closing Date, as such schedule is updated or supplemented from time to
time, including, without limitation, in connection with any Additional Loan Assignment or any reassignment pursuant to Section 2.05 of this Agreement, as applicable, or otherwise. The Loan Schedule may take the form of a computer file, or
another tangible medium that is commercially reasonable. The Loan Schedule shall identify each Loan by last name of the Loan Obligor, the Loan Obligor’s account number, whether such Loan is a Hard Secured Loan (with a certificate of title or
not), the Loan amount, APR, contract term (i.e., the number of payments), branch state and Loan Obligor’s state of residence at time of origination (to the extent such information appears in any relevant imaged file). 

“Material Adverse Effect” shall mean, in respect of any Person, a material adverse change in the business, assets or operations of such
Person. 
 “Modified Contract” shall mean a personal loan contract which, at any time, was in default and which default was cured by
adjusting or amending the contract terms or accepting a reduced payment, other than a personal loan contract that was modified in connection with an insolvency proceeding under Chapter 13 of the Bankruptcy Code. 

“Monthly Data Tape” shall mean the electronic files containing the information necessary for the Servicer to prepare the Monthly
Servicer Report pursuant to Section 3.06 of this Agreement. 

  
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 “Monthly Determination Date” shall mean, with respect to any Payment Date, the date
that is two (2) Business Days prior to such Payment Date. 
 “Monthly Interest Amount” shall mean, for any Payment Date, the
amount of interest accrued during the related Interest Period at the Interest Rate on the Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the basis of a
360-day year consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but excluding) the
Initial Payment Date, which shall be 37 days). 
 “Monthly Net Loss Percentage” shall mean, for any Monthly Determination Date, the
product of (i) the quotient (expressed as a percentage) of (I) the sum of (x) the aggregate Loan Principal Balance of all Loans that became Charged-Off Loans during the related Collection
Period, plus (y) the aggregate amount by which the Loan Principal Balance of any Loans (other than Charged-Off Loans) were reduced due to being charged off in accordance with the Credit and
Collection Policy during the related Collection Period, minus (z) the aggregate amount of Monthly Recoveries collected during the related Collection Period and (II) the Adjusted Loan Principal Balance of all Loans in the Trust
Estate as of the close of business on the day immediately prior to the commencement of such Collection Period, times (ii) twelve (12). 

“Monthly Recoveries” shall mean, without duplication, with respect to any Loan, any amounts (up to the aggregate principal balance of
such Loan that has been charged off in accordance with the Credit and Collection Policy) actually collected that, in accordance with the Credit and Collection Policy in effect at the time of such collection, constitute recoveries of amounts that
were previously charged off with respect to such Loan. 
 “Monthly Servicer Report” shall mean, with respect to each Payment Date,
the certificate of the Servicer delivered pursuant to Section 3.06 of this Agreement with respect to such Payment Date, in the form attached as Exhibit C to the Indenture. 

“Moody’s” shall mean Moody’s Investors Service, Inc. 

“Non-Authoritative Copy” shall have the meaning specified in the Electronic Collateral Control
Agreement. 
 “Nortridge Loan System” means a third-party technology platform on which the Regional Management Entities’
underwriting, servicing and collection activity are logged and maintained and which is integrated into such entities’ information technology infrastructure. 

“Note Account” shall mean the Collection Account, the Principal Distribution Account or the Reserve Account, as applicable. 

“Note Balance” shall equal the Initial Note Balance reduced by all previous payments to the Noteholders in respect of the principal of
the Notes that have not been rescinded. 
 “Note Purchase Agreement(s)” shall mean each Note Purchase Agreement, dated
October 8, 2021 between the Depositor and an Initial Purchaser. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
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 “Note Register” shall mean the register maintained pursuant to Section 2.05(a)
of the Indenture in which the Notes are registered. 
 “Note Registrar” shall have the meaning specified in Section 2.05(a) of
the Indenture. 
 “Noteholder” or “Holder” shall mean the Person in whose name a Note is registered in the Note
Register, or such other Person deemed to be a “Noteholder” or “Holder” pursuant to the Indenture. 
 “Noteholder FATCA
Information” means properly completed and signed tax certifications (generally, in the case of U.S. federal income tax, IRS Form W-9 (or applicable successor form) in the case of a payee that is
“United States person” within the meaning of Section 7701(a)(30) of the Internal Revenue Code or the appropriate IRS Form W-8 (or applicable successor form) in the case of a payee that is not a
“United States person” within the meaning of Section 7701(a)(30) of the Internal Revenue Code) or any other tax documentation which the Issuer or the Indenture Trustee may reasonably request. 

“Noteholder Redemption Notice” shall have the meaning specified in Section 8.08(c) of the Indenture. 

“Notes” shall mean any one of the 3.875% notes executed by the Owner Trustee on behalf of the Issuer and authenticated by the Indenture
Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 
 “NYUCC” shall mean the UCC as in effect in
the State of New York. 
 “Officer’s Certificate” shall mean, except to the extent otherwise specified, a certificate signed by
an Authorized Officer of the Issuer, the Depositor, the Servicer, the Seller or the Indenture Trustee, as applicable. 
 “Omnibus Distribution
and Assignment Agreement” shall mean that Omnibus Distribution and Assignment Agreement, dated as of the Closing Date, by and among the Regional Originators, as assignors, and Regional Management, as assignee. 

“Opinion of Counsel” shall mean a written opinion of counsel, who may be counsel for, or an employee of, the Person providing the
opinion and who shall be reasonably acceptable to the Person to whom the opinion is to be provided; provided, however, that any Tax Opinion or other opinion relating to U.S. federal income tax matters shall be an opinion of nationally
recognized tax counsel experienced in the matters to which such Tax Opinion relates. 
 “Optional Call” shall have the meaning
specified in Section 8.08(b) of the Indenture. 
 “Optional Call Amount” shall have the meaning specified in
Section 8.08(b) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
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 “Optional Purchase” shall have the meaning specified in Section 2.09(a) of this
Agreement. 
 “Optional Regulatory Call” shall have the meaning specified in Section 8.08(c) of this Agreement. 

“Optional Regulatory Call Amount” shall have the meaning specified in Section 8.08(c) of this Agreement. 

“Original Loan Principal Balance” shall mean, with respect to any Loan, the outstanding principal balance of such Loan, or if such Loan
is a Precompute Loan, the principal balance of such Precompute Loan calculated in accordance with the definition of “Loan Principal Balance,” in each case as of the related Cut-Off Date with respect
to such Loans. 
 “Other Warehouse Purchase Agreement” shall mean each purchase agreement entered into after the Closing Date between
Regional Management and one or more borrowers under one or more warehouse facilities, which borrowers are wholly-owned special purpose subsidiaries of Regional Management, for the purpose of transferring Loans directly or indirectly to the Issuer.

 “Outstanding” shall mean, as of any date of determination, all Notes previously authenticated and delivered under the Indenture
except: 
 (a) Notes previously cancelled by the Indenture Trustee or delivered to the Indenture Trustee for cancellation; 

(b) Notes for whose payment or redemption money in the necessary amount has been previously deposited with the Indenture Trustee for the
holders of such Notes; provided, that if such Notes are to be redeemed, any required notice of such redemption pursuant to the Indenture or provision for such notice satisfactory to the Indenture Trustee has been made; and 

(c) Notes that have been paid under Section 2.06 of the Indenture or in exchange for or in lieu of which other Notes have been
authenticated and delivered under the Indenture, other than any such Notes for which there shall have been presented to the Indenture Trustee proof satisfactory to it that such Notes are held by a protected purchaser; 

provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Notes have given any request, demand,
authorization, direction, notice, consent or waiver under the Indenture, Notes owned by the Issuer, any other obligor upon the Notes, the Depositor, the Servicer or the Seller or any Affiliate thereof shall be disregarded and considered not to be
Outstanding, except that, in determining whether the Indenture Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Responsible Officer of the Indenture Trustee,
as the case may be, has actual knowledge of being so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Indenture Trustee the
pledgee’s right so to act for such Notes and that the pledgee is not the Issuer, any other obligor upon the Notes, the Depositor, the Servicer, or the Seller or any Affiliate thereof. In making any such determination, the Indenture Trustee may
rely on the representations of the pledgee and shall not be required to undertake any independent investigation. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 22 

 “Outstanding Securitizations” shall mean the
2019-1 Securitization, the 2020-1 Securitization, the 2021-1 Securitization and the
2021-2 Securitization. 
 “Overcollateralization Event” shall mean, for any Loan Action Date,
after giving effect to all Loan Actions to be taken on such Loan Action Date and all payments and distributions to be made in accordance with Section 8.06 of the Indenture and all principal payments to be made on the Notes, in each case,
on the Payment Date that occurs on such Loan Action Date, (a) the Loan Action Date Aggregate Principal Balance minus the Required Overcollateralization Amount is less than (b) the Aggregate Note Balance minus the amounts on
deposit in the Principal Distribution Account. 
 “Ownership Interest” shall have the meaning specified in Section 10.01 of the
Trust Agreement. 
 “Owner of Record” shall mean the owner of an Authoritative Copy (in the case of an Electronic Contract that
constitutes Electronic Chattel Paper) or an electronically authenticated original record of an executed Contract (in the case of an Electronic Contract that does not constitute Electronic Chattel Paper), which, within the Electronic Vault System, is
the Issuer. 
 “Owner Trustee” shall mean Wilmington Trust, National Association, not in its individual capacity but solely in
its capacity as owner trustee under the Trust Agreement, its successors in interest and any successor owner trustee under the Trust Agreement. 

“Owner Trust Estate” shall have the meaning specified in Section 2.01 of the Trust Agreement. 

“Participant” shall mean a broker, dealer, bank, other financial institution or other Person for whom from time to time DTC effects
book-entry transfers and pledges of securities deposited with DTC. 
 “Payment Date” shall mean the fifteenth (15th) day of each
calendar month, or if such 15th day is not a Business Day, the next succeeding Business Day, beginning on November 15, 2021. 

“Periodic Filing” shall mean any filing or submission that the Trust is required to make with any federal, state or local authority or
regulatory agency. 
 “Permanent Regulation S Global Note” shall have the meaning specified in Section 2.05(b) of the Indenture.

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
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 “Permitted Assignee” shall mean any Person who, if it were to purchase Loans in
connection with a sale under Sections 5.05 and 5.17 of the Indenture, would not cause the Issuer to be taxable as a publicly traded partnership for federal income tax purposes. 

“Permitted Lien” shall mean (a) Liens for taxes not delinquent or for taxes being contested in good faith and by appropriate
proceedings, and with respect to which adequate reserves have been established, and are being maintained, in accordance with generally accepted accounting principles promulgated or adopted by the Financial Accounting Standards Board and its
predecessors and successors from time to time, (b) mechanics’, materialmen’s, landlords’, warehousemen’s, garagemen’s and carriers’ Liens, and other like Liens imposed by law, securing obligations arising in the
ordinary course of business, (c) motor vehicle accident liens and towing and storage liens, (d) any Lien created by each Purchase Agreement, the Omnibus Distribution and Assignment Agreement or any Other Warehouse Purchase Agreement in
favor of the Seller, (e) any Lien created by the Loan Purchase Agreement in favor of the Depositor, (f) any Lien created by the Sale and Servicing Agreement in favor of the Issuer, (g) any Lien created by the 2021-3A Security Agreement in favor of the Indenture Trustee and (h) any Lien created by the Indenture for the benefit of the Indenture Trustee on behalf of the Noteholders. 

“Permitted Reassignment” shall mean with respect to (i) any reassignment by the Issuer to the Depositor or (ii) any
reassignment by the Depositor to the Seller, so long as, after giving effect to such reassignment and all other Loan Actions to be taken such Loan Action Date, the aggregate of the Loan Principal Balances of all Reassigned Loans measured as of the
Loan Action Date on which such Loans became Reassigned Loans for such Loan Action Date and the preceding eleven (11) consecutive Collection Periods (or, if shorter, the most recently ended period of consecutive Collection Periods since the
Closing Date), in each case, measured as of the end of the most recently ended Collection Period prior to such Loan being reassigned will not exceed 10.0% of the aggregate Loan Principal Balance as of the Initial
Cut-Off Date. 
 “Permitted Securitization” shall mean any personal loan securitization
transaction (other than the personal loan securitization transaction evidenced by the Transaction Documents) pursuant to which the Depositor (i) acts as depositor, (ii) acquires personal loans from the Seller or Affiliates of Regional
Management, (iii) enters solely into Permitted Securitization Transaction Documents and (iv) with respect to which Opinions of Counsel relating to the “true sale” of such personal loans and the “substantive
consolidation” of the Depositor are delivered. 
 “Permitted Securitization Transaction Documents” shall mean, as the context
may require, the Transaction Documents and/or, with respect to any personal loan securitization for which the Depositor is acting as depositor, (other than the personal loan securitization transaction evidenced by the Transaction Documents),
transaction documents that are substantially the same as the Transaction Documents except for the terms of the securities being issued by the relevant securitization trust (such as the amount and type of securities, eligible pool criteria, events of
default, early amortization events, maturity and amortization dates, the length of any applicable revolving period, interest rates and fees, the priority of payment and other economic terms of such securities). 

“Permitted Transferee” is defined in Section 10.02 of the Trust Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 24 

 “Permitted Trust Investments” shall mean any of the following investments: 

(a) Marketable securities issued by the U.S. Government and supported by the full faith and credit of the U.S. Treasury, either by
statute or an opinion of the Attorney General of the United States; 
 (b) Directly or fully guaranteed obligations of the U.S.
Treasury, the Government National Mortgage Association guaranteed mortgage-back securities, the consolidated debt obligations of the Federal Home Loan Banks, debt obligations of Federal Home Loan Mortgage Corp., and debt obligations of Federal
National Mortgage Association; 
 (c) Certificates of deposit, time deposits, and bankers’ acceptances of any bank or trust
company incorporated under the laws of the United States or any state, provided that, at the date of acquisition, such investment, and/or the commercial paper or other short term debt obligation of such bank or trust company has a short-term credit
rating or ratings from Moody’s and/or S&P, each at least P-1 or A-1; 

(d) Deposit accounts with any bank that are insured by the Federal Deposit Insurance Corporation and whose long-term obligations are
rated A2 or better by Moody’s and/or A or better by S&P; 
 (e) Commercial paper of any corporation incorporated under the
laws of the United States or any state thereof which on the date of acquisition is rated by Moody’s and/or S&P, provided each such credit rating is least P-1 and/or
A-1; 
 (f) Money market mutual funds that are registered with the Securities and Exchange
Commission under the Investment Company Act of 1940, as amended, and operated in accordance with Rule 2a-7 and that at the time of such investment are rated Aaa by Moody’s and/or AAAm by S&P,
including such funds for which the Owner Trustee or an affiliate provides investment advice or other services; 
 (g) Tax-exempt variable rate commercial paper, tax-exempt adjustable rate option tender bonds, and other tax-exempt bonds or notes issued
by municipalities in the United States, having a short-term rating of “MIG-1” or “VMIG-1” or a long term rating of “Aa” (Moody’s), or
a short-term rating of “A-1” or a long term rating of “AA” (S&P); 

(h) Repurchase obligations with a term of not more than thirty (30) days, 102% collateralized, for underlying securities of the
types described in clauses (a) and (b) above, entered into with any bank or trust company or its respective affiliate meeting the requirements specified in clause (c) above; and 

(i) Maturities on the above securities shall not exceed 365 days and all rating requirements and/or percentage restrictions are based on
the time of purchase. 
 “Person” shall mean any legal person, including any individual, corporation, limited liability company,
partnership, joint venture, association, joint-stock company, trust, unincorporated organization, governmental entity or other entity of any nature. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 25 

 “Precompute Loan” shall mean any Loan reflected as a “precompute loan” on
the records of the Servicer or the applicable Subservicer. 
 “Principal Distribution Account” shall have the meaning specified in
Section 8.02(a)(ii) of the Indenture. 
 “Proceeding” shall mean any suit in equity, action at law or other judicial or
administrative proceeding. 
 “Purchase Agreement(s)” shall mean each Purchase Agreement, dated as of the Closing Date, between
Regional Management and each Warehouse Borrower. 
 “Purchase Price” shall have the meaning specified in Section 3.01(a) of the
Loan Purchase Agreement. 
 “Purchased Assets” shall have the meaning specified in Section 2.01(a) of the Loan Purchase
Agreement. 
 “QIB” shall mean a “qualified institutional buyer” as defined in Rule 144A. 

“Reassigned Loan” shall have the meaning specified in Section 8.07(v) of the Indenture. 

“Reassignment Date” shall have the meaning specified in Section 2.10(b)(i) of this Agreement. 

“Reassignment Price” shall mean, with respect to any Reassigned Loan, an amount equal to the greater of (a) the fair market value
of such Reassigned Loan, which shall be determined as of the close of business on the day prior to the related Loan Action Date on which such reassignment is to occur, or (b) the outstanding principal amount of such Reassigned Loan together
with all accrued and unpaid interest thereon to, but excluding, the related Loan Action Date on which such reassignment is to occur. 

“Recharacterized Notes” shall have the meaning specified in Section 3.14(b) of the Indenture. 

“Record Date” shall mean, with respect to any Payment Date, the last Business Day of the calendar month immediately preceding the
calendar month during which such Payment Date occurs; provided, that the first Record Date shall be the Closing Date. 
 “Records”
shall mean, with respect to any Contract, all documents, books, records and other information (including computer programs, tapes, disks, punch cards, data processing software and related property and rights) maintained with respect to any related
item of the Purchased Assets or Sold Assets, as applicable, and the related Loan Obligor. 
 “Redeeming Party” shall have the meaning
specified in Section 8.08(c) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 26 

 “Redeeming Party Notice” shall have the meaning specified in Section 8.08(c) of
the Indenture. 
 “Redemption Date” shall have the meaning specified in Section 8.08(c) of the Indenture. 

“Redemption Price” shall have the meaning specified in Section 8.08(a) of the Indenture. 

“Redemption Price Percentage” shall mean, with respect to any Note subject to an Optional Redemption pursuant to Section 8.08(b)
of the Indenture, if such Optional Redemption is effected (i) on any Business Day on or after the Payment Date occurring in October 2024, 102%, (ii) on any Business Day on or after the Payment Date occurring in October 2025, 101% or
(iii) on any Business Day on or after the Payment Date occurring in October 2026, 100%. 
 “Regional” shall mean Regional
Management, together with the Regional Originators. 
 “Regional Management” shall mean Regional Management Corp., a Delaware
corporation. 
 “Regional Management Entities” shall mean Regional Management, the Issuer and the Regional Originators. 

“Regional Originators” shall mean Regional Finance Corporation of Alabama, an Alabama corporation, Regional Finance Company of Georgia,
LLC, a Delaware limited liability company, Regional Finance Company of Illinois, LLC, a Delaware limited liability company, Regional Finance Company of Missouri, LLC, a Delaware limited liability company, Regional Finance Company of New Mexico, LLC,
a Delaware limited liability company, Regional Finance Company of Oklahoma, LLC, a Delaware limited liability company, Regional Finance Corporation of South Carolina, a South Carolina corporation, Regional Finance Corporation of Tennessee, a
Tennessee corporation, Regional Finance Corporation of Texas, a Texas corporation, Regional Finance Company of Virginia, LLC, a Delaware limited liability company, Regional Finance Corporation of Wisconsin, a Wisconsin corporation, and any
additional Regional Affiliate that may originate Loans from the time after the Closing Date and prior to the end of the Revolving Period. From time to time after the Closing Date, prior to the end of the Revolving Period, additional Affiliates of
Regional Management may become “Regional Originators”. 
 “Regional Party” or “Regional Parties” shall
have the meaning specified in Section 8.03 of this Agreement. 
 “Regular Principal Payment Amount” shall mean, with respect to
any Payment Date, an amount equal to the excess (if any) of (a) the Aggregate Note Balance as of the end of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any
allocations on such Payment Date to the Principal Distribution Account pursuant to Sections 8.06(a)(v) of the Indenture) over (b) (i) the Adjusted Loan 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 27 

 
Principal Balance as of the end of the related Collection Period minus (ii) the Required Overcollateralization Amount. Following the Revolving Period Termination Date, the Regular Principal
Payment Amount will be equal to the Aggregate Note Balance as of the end of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations on such Payment Date to the Principal
Distribution Account pursuant to Sections 8.06(a)(v) of the Indenture). 
 “Regulation RR” shall mean the SEC’s credit risk
retention rules, 17 C.F.R. Part 246. 
 “Regulation S” shall mean Regulation S promulgated under the Securities Act. 

“Regulation S Definitive Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

“Regulation S Global Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

“Regulatory Event” shall mean either (i) on or after the date on which a change in Applicable Law occurs or a Governmental
Authority asserts a legally binding interpretation, which in either case is published or publicly available in written form, and such change in law or interpretation caps interest at an APR of 36%, provided that, on the date such change in law or
interpretation takes legal and binding effect, at least 40% of the underlying Eligible Loans that are held by the Issuer as of the most recent Monthly Determination Date, based on the aggregate Loan Principal Balance of such Eligible Loans, were
originated in one or more states where such cap on interest is applicable, or (ii) prosecution by written notice by any Governmental Authority of any legal suit or similar adversarial proceeding (which, for the avoidance of doubt, excludes any
Routine Inquiry) against the Servicer, any Originator or any Subservicer challenging its respective authority to hold, own, pledge, service, collect or enforce any Loan or Contract evidencing such Loan or otherwise alleging any material non-compliance by any such Servicer, Originator or Subservicer with Applicable Laws related to holding, pledging, servicing, collecting or enforcing such Loan or such Contract related to such Loan in accordance with
its terms, the results of which, as determined by such Governmental Authority, render all or any portion of such Loan acquired by the Issuer or the related Contract invalid, illegal, uncollectible or unenforceable as a matter of law; provided that,
on the date of notice of such prosecution by written notice, at least 40% of the underlying Eligible Loans that are held by the Issuer as of the most recent Monthly Determination Date, based on the aggregate Loan Principal Balance of such Eligible
Loans, were originated in one or more states where such prosecution is applicable. 
 “Reinvestment Criteria Event” shall mean, for
any Loan Action Date, the existence of any of the following, as determined based on the Loan Principal Balance and other characteristics of each Loan in the applicable Loan Action Date Loan Pool as of the end of the Collection Period relating to
such Loan Action Date: 
 (a) the aggregate Loan Action Date Loan Principal Balance of (i) all Single State Originated Loans in the Loan Action
Date Loan Pool for the Top Three States for such Loan Action Date shall exceed 80.0% of the Loan Action Date Aggregate Principal Balance or (ii) all Single State Originated Loans in the Loan Action Date Loan Pool for any single State shall exceed
42.0% of the Loan Action Date Aggregate Principal Balance; 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 28 

 (b) the aggregate Loan Action Date Loan Principal Balance of all Single State Originated Loans in the
Loan Action Date Loan Pool for any single State (other than any Top Three State for such Loan Action Date) shall exceed 16.5% of the Loan Action Date Aggregate Principal Balance; 

(c) the Weighted Average Coupon for such Loan Action Date shall be less than 32.0%; 

(d) the Weighted Average Loan Remaining Term for such Loan Action Date shall exceed 36 months; 

(e) the aggregate Loan Action Date Loan Principal Balance of Loans with an original term to maturity of greater than 60 months shall exceed 2.5% of the
Loan Action Date Aggregate Principal Balance; 
 (f) the aggregate Loan Action Date Loan Principal Balance of all Loans in the Loan Action Date Loan
Pool that have received a payment deferment during the Collection Period relating to such Loan Action Date shall exceed 12.5% of the Loan Action Date Aggregate Principal Balance; 

(g) the aggregate Loan Action Date Loan Principal Balance of all Loans in the Loan Action Date Loan Pool, the Loan Obligors of which have a FICO® score at the time of origination within any “FICO® Score Range” listed below, shall exceed the percentage of the Loan Action
Date Aggregate Principal Balance set forth in the table below opposite such “FICO® Score Range”; 
  

					
	 FICO® Score
Range
	  	Percentage	 
	 425 to 524
	  	 	2.0	% 
	 Less than 541
	  	 	8.5	% 
	 Less than 581
	  	 	26.5	% 
	 Less than 621
	  	 	65.0	% 
	 Less than 661
	  	 	90.0	% 

 (h) the aggregate Loan Action Date Loan Principal Balance of all Unsecured Loans in the Loan Action Date Loan Pool, the
Loan Obligors of which have a FICO® score at the time of origination less than 621, shall exceed 35.0%; 

(i) the aggregate Loan Action Date Loan Principal Balance of all Unsecured Loans in the Loan Action Date Loan Pool shall exceed 65.0% of the Loan Action
Date Aggregate Principal Balance, provided that with respect to such Unsecured Loans in the Loan Action Date Loan Pool, Convenience Checks shall not exceed 55.0% of the Loan Action Date Aggregate Principal Balance; and 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 29 

 (j) an Overcollateralization Event exists. 

“Related Collateral” shall have the meaning specified in Section 2 of the 2021-3A Security
Agreement. 
 “Related Loan Assets” shall mean with respect to a Loan, the Purchased Assets related to such Loan and including any
proceeds of the foregoing. 
 “Renewal” shall mean, with respect to any Loan in the Trust Estate, a transaction in which a new non-revolving personal loan originated pursuant to a Contract is entered into between a Regional Originator and a Loan Obligor, which new non-revolving personal loan
(x) is originated in accordance with Regional’s renewal underwriting criteria as set forth in its Credit and Collection Policy, (y) refinances such Loan in full or in part and (z) may also extend additional financing to such Loan
Obligor. 
 “Renewal Loan” shall mean the new non-revolving personal loan entered into
between the applicable Regional Originator and the Loan Obligor pursuant to any Renewal. 
 “Repurchase Price” shall mean an amount
equal to the Purchase Price paid for such Loan as of the Closing Date or the related Addition Date, as applicable, less any Collections representing payment of principal received by the Issuer since the date of the purchase of such Loan, plus any out-of-pocket costs incurred by the Servicer, the Depositor or the Issuer, as applicable, in connection with such repurchase. 

“Required Noteholders” shall mean, at any time, the Holders of Notes evidencing more than 50% of the Outstanding Notes. 

“Required Overcollateralization Amount” shall mean, if the average of the Monthly Net Loss Percentages for any Monthly Determination
Date and the two (2) immediately preceding Monthly Determination Dates (or (A) in the case of the first Monthly Determination Date, the Monthly Net Loss Percentage for such Monthly Determination Date and (B) in the case of the second
Monthly Determination Date, the average of the Monthly Net Loss Percentages for such Monthly Determination Date and the immediately preceding Monthly Determination Date) is (a) greater than 22.5% and less than or equal to 25.0%, $31,250,000; or
(b) less than or equal to 22.5%, $22,058,824. 
 “Requirements of Law” shall mean, for any Person, (a) any certificate of
incorporation, certificate of formation, articles of association, bylaws, limited liability company agreement, or other organizational or governing documents of that Person and (b) any law, treaty, statute, regulation, or rule, or any
determination by a Governmental Authority or arbitrator, that is applicable to or binding on that Person or to which that Person is subject. This term includes usury laws, the Truth in Lending Act, and Regulation Z and Regulation B of the Board of
Governors of the Federal Reserve System. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 30 

 “Reserve Account” shall have the meaning specified in Section 8.02(a)(iii) of
the Indenture. 
 “Reserve Account Draw Amount” shall have the meaning specified in Section 8.02(a)(iii) of the Indenture. 

“Reserve Account Required Amount” shall mean, with respect to the Closing Date, an amount equal to 1.0% of the aggregate Loan Principal
Balance of the related Cut-Off Date. 
 “Responsible Officer” shall mean, (a) with
respect to the Indenture Trustee, the Back-up Servicer or the Owner Trustee, any officer within the Corporate Trust Office of such Person, as applicable, as the case may be, including any Vice President,
Assistant Vice President, Assistant Treasurer, Assistant Secretary, or any other officer of such Person, as applicable, customarily performing functions similar to those performed by any of the above designated officers, and also, with respect to a
particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, in each case having direct responsibility for the administration of the Indenture and the
other Transaction Documents on behalf of such Person, as applicable, and (b) with respect to any of Regional Management, the Issuer or the Regional Originators, with respect to a particular matter, any officer to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular subject, in each case having direct responsibility for the administration of the Transaction Documents on behalf of such Person. 

“Revolving Loan” shall mean any personal loan which (a) is reflected as a “revolving loan” on the records of the
Servicer or the applicable Subservicer and (b) arises under an account pursuant to which an obligor may request future advances or draws pursuant to the applicable loan agreement. 

“Revolving Period” shall mean the period beginning at the close of business on the Closing Date and ending on the close of business on
the earlier of (a) the Revolving Period Termination Date and (b) the close of business on the Business Day immediately preceding the day on which an Early Amortization Event or an Event of Default is deemed to have occurred;
provided, that the Revolving Period shall be reinstated upon the occurrence of either of the following: (i) the Revolving Period terminated due to the occurrence of an Early Amortization Event under Section 5.01(b) of the Indenture,
and there subsequently occurs a Loan Action Date with respect to which no Reinvestment Criteria Event exists and (ii) no other event that would have caused the Revolving Period to terminate shall have occurred on or prior to, and be continuing
as of, such reinstatement; provided, further that, in the event that the Revolving Period is reinstated on any Loan Action Date, such reinstatement shall be given effect for purposes of determining any distributions and allocations to
occur on the Payment Date following such Loan Action Date pursuant to Section 8.06 and Section 8.07 of the Indenture. 
 “Revolving
Period Termination Date” shall mean the close of business on September 30, 2026; provided, that, the Revolving Period may terminate earlier than such date as a result of an Early Amortization Event or an Event of Default. 

  
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 “Routine Inquiry” includes, without limitation, any routine inquiry, whether in the
form of a writing or otherwise, made by a competent Governmental Authority with legal authority to regulate the activities of any of the Servicer, Originator or Subservicer with respect to the Loans or Contracts evidencing such Loans, made via a
form letter or otherwise, in connection with (i) a customer complaint, (ii) an alleged failure to comply with a state’s licensing requirements and which would not reasonably be expected to materially and adversely impact the Loans,
(iii) a civil investigative demand, formal inquiry or investigation into acts or practices that do not, in the opinion of the Servicer, Originator or Subservicer, present a reasonable risk of resulting in the Loans or Contracts being deemed
subject to a 36% APR interest cap, or otherwise being deemed invalid, illegal, uncollectible or unenforceable, or (iv) a routine audit by any Governmental Authority. 

“Rule 144A” shall mean Rule 144A promulgated under the Securities Act. 

“Rule 144A Definitive Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

“Rule 144A Global Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

“Rule 15Ga-1 Information” shall have the meaning specified in Section 6.14(c) of the
Indenture. 
 “S&P” shall mean Standard & Poor’s Rating Services, a Standard & Poor’s Financial
Services LLC business, and its successors.  
 “Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement,
dated as of the Closing Date, among the Depositor, the Servicer, the Subservicers and the Issuer. 
 “SEC” shall mean the United
States Securities and Exchange Commission. 
 “Securities Act” shall mean the Securities Act of 1933, as amended. 

“Seller” shall mean Regional Management. 

“Servicer” shall mean (a) initially Regional Management, in its capacity as Servicer pursuant to the Sale and Servicing Agreement
and any Person that becomes the successor thereto pursuant to the Sale and Servicing Agreement, and (b) after any Servicing Transfer Date, the Successor Servicer. 

“Servicer Default” shall have the meaning specified in Section 8.01 of this Agreement. 

“Servicer File” shall mean, with respect to a Loan, each of the following documents: (i) application of the Loan Obligor for
credit; (ii) a copy (but not the original) of the Contract and any amendments or modifications thereto; provided, however, if such documents constitute Electronic Contracts, originals or copies thereof may be accessible via the Electronic Vault
System or via the Nortridge Loan System; and (iii) such other documents as the Servicer customarily retains in its files in order to accomplish its duties under this Agreement; provided, that in each case such documents may be in either
tangible or electronic form. 

  
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 “Servicing Assumption Date” shall have the meaning specified in Section 1.1 of
the Back-up Servicing Agreement. 
 “Servicing Centralization Period” shall have the meaning
specified in Section 1.1 of the Back-up Servicing Agreement. 
 “Servicing Fee” shall
have the meaning specified in Section 3.02 of this Agreement. 
 “Servicing Transfer” shall have the meaning specified in
Section 8.01 of this Agreement. 
 “Servicing Transfer Date” shall mean the date on which a Successor Servicer has assumed all
of the duties and obligations of the Servicer under the Sale and Servicing Agreement (other than in the case of the Back-up Servicer, any such duty or obligation that it is not required to assume under the
terms of the Back-up Servicing Agreement or the Sale and Servicing Agreement, as applicable) after the resignation or termination of the Servicer. 

“Servicing Transfer Notice” shall mean a written notice substantially in the applicable form attached to the Back-up Servicing Agreement from the Indenture Trustee to the Back-up Servicer.  

“Servicing Transition Costs” shall have the meaning specified in Section 1.1 of the
Back-up Servicing Agreement. 
 “Servicing Transition Period” shall have the meaning
specified in Section 1.1 of the Back-up Servicing Agreement. 
 “Similar Law” shall mean
any non-U.S., federal, state or local law that is substantially similar to Section 406 of ERISA or Section 4975 of the Internal Revenue Code. 

“Single State Originated Loans” shall mean, with respect to any State and for any Loan Action Date, all of the Loans in the Loan Action
Date Loan Pool with respect to such Loan Action Date that were originated by any branch within such State. 
 “Soft Secured Loan”
shall mean a Branch Loan that is, as of the date of the origination thereof, secured by untitled assets, including but not limited to, personal property, such as furniture, electronic equipment or other household goods, subject to limitations
imposed by applicable law on the taking of non-purchase money security interests in such items. 

“Sold Assets” shall have the meaning specified in Section 2.01(a) of this Agreement. 

“State” shall mean any of the fifty (50) states in the United States of America or the District of Columbia. 

  
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 “Stated Maturity Date” shall mean October 17, 2033. 

“Subservicer” shall mean (a) prior to any Servicing Transfer Date, each subservicer identified in Schedule I of the Sale and
Servicing Agreement, in its capacity as a Subservicer pursuant to the Sale and Servicing Agreement, any person that becomes an Additional Subservicer pursuant to Section 10.19 of this Agreement and any Person that becomes the successor thereto
under Section 6.02 of this Agreement as a “Subservicer” after the Closing Date and any assignee thereof pursuant to Section 6.05 of this Agreement, and (b) after any Servicing Transfer Date, any subservicers appointed by the
Successor Servicer, which may include some or all of the subservicers referred to in the foregoing clause (a). 
 “Successor
Servicer” shall mean the successor servicer appointed in accordance with Section 8.02 of this Agreement. 
 “System
Description” shall mean the written description of the Electronic Vault System, attached hereto as Exhibit H. 
 “Tax
Opinion” shall mean, with respect to any action, an Opinion of Counsel to the effect that, for U.S. federal income tax purposes, (a) such action will not adversely affect the tax characterization as debt of any Outstanding Note with
respect to which an Opinion of Counsel was delivered at the time of its original issuance as to the characterization of such Note as debt for U.S. federal income tax purposes (it being understood that any such Opinion of Counsel shall not be
required to provide any greater level of assurance regarding the tax characterization of any Notes than was provided in the original Opinion of Counsel with respect to such Notes) and (b) such action will not cause the Issuer to be classified
as an association (or publicly traded partnership) taxable as a corporation. 
 “Temporary Regulation S Global Note” shall have the
meaning specified in Section 2.05(b) of the Indenture. 
 “Termination Notice” shall have the meaning specified in
Section 8.01 of this Agreement. 
 “Third Party Allocation Agent” shall mean the
pre-approved third party allocation agent pursuant to the Intercreditor Agreement, which as of the Closing Date is Wells Fargo. 

“Threshold Noteholders” shall mean, at any time, the Holders of Notes evidencing more than 25% of the Outstanding Notes. 

“Titled Asset” shall mean a motor vehicle, boat, trailer or other asset for which, under applicable State law, a certificate of title
is issued and any security interest therein is required to be perfected by notation on such certificate of title or recorded with the relevant Governmental Authority that issued such certificate of title. 

“Top Three States” shall mean, for any Loan Action Date, the three States that have the highest concentrations of Single State
Originated Loans in the Loan Action Date Loan Pool with respect to such Loan Action Date. 

  
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 “Transaction Documents” shall mean the Certificate of Trust, the Trust Agreement,
each Note Purchase Agreement, each Purchase Agreement, the Omnibus Distribution and Assignment Agreement, any Other Warehouse Purchase Agreement, the Loan Purchase Agreement, the Sale and Servicing Agreement, the Indenture, the Administration
Agreement, the Back-up Servicing Agreement, the Intercreditor Agreement, the Intercreditor Security Agreement, the Electronic Collateral Control Agreement, the Electronic Vault Services Agreement and such
other documents and certificates delivered in connection with the foregoing. 
 “Trust” shall mean the Trust established by the Trust
Agreement. 
 “Trust Account” shall mean the account established by the Owner Trustee on behalf of the Trust pursuant to
Section 4.04 of the Trust Agreement. 
 “Trust Agreement” shall mean the Second Amended and Restated Trust Agreement relating to
the Issuer, dated as of the Closing Date, between the Depositor and the Owner Trustee. 
 “Trust Certificate” shall have the meaning
specified in Section 10.01 of the Trust Agreement. 
 “Trust Company” shall mean Wilmington Trust, National Association or any
successor thereto that is acting as Owner Trustee. 
 “Trust Estate” shall have the meaning specified in the Granting Clause of the
Indenture. 
 “UCC” shall mean the Uniform Commercial Code of the applicable jurisdiction. 

“Unsecured Loan” shall mean a Loan that is, as of the date of the origination thereof, not secured, which for the avoidance of doubt
shall include Convenience Checks. 
 “Volcker Rule” shall mean Section 619 of the Dodd-Frank Act, together with any implementing
regulations. 
 “Warehouse Borrowers” shall mean each of (i) Regional Management Receivables II, LLC, (ii) Regional
Management Receivables IV, LLC and (iii) Regional Management Receivables V, LLC. 
 “Warehouse Facilities” shall mean each of
the (i) Second Amended and Restated Credit Agreement, dated as of October 17, 2019, as amended by the omnibus amendment, dated as of August 18, 2020, as further amended by the omnibus amendment, dated as of April 14, 2021, by and
among Regional Management Receivables II, LLC, as borrower, Regional Management, as servicer, the lenders from time to time thereto, the agents from time to time thereto, Wells Fargo Bank, National Association, as account bank and back-up servicer, and Credit Suisse AG, New York Branch, as administrative agent and structuring and syndication agent, (ii) Credit Agreement, dated as of April 19, 2021, by and among Regional Management
Receivables IV, LLC, as borrower, Regional Management, as Servicer, the lenders from time to time thereto, the agents from time to time thereto, Wells Fargo Bank, National Association, as 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule II - 35 

 
account bank and back-up servicer, and Wells Fargo Bank, National Association as administrative agent, and (iii) Credit Agreement, dated as of
April 28, 2021, by and among Regional Management Receivables V, LLC, as borrower, Regional Management, as Servicer, the lenders from time to time thereto, the agents from time to time thereto, Wells Fargo Bank, National Association, as account
bank and back-up servicer, and JPMorgan Chase Bank, N.A., as administrative agent. 
 “Weighted
Average Coupon” shall mean, with respect to any Loan Action Date, the weighted average APR of all Loans in the Loan Action Date Loan Pool for such Loan Action Date, determined based upon (i) the Loan Action Date Loan Principal Balance
of such Loans and (ii) the APR of such Loans as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date (or, if such Loan did not exist as of the last day of such Collection Period, the date
on which such Loan was originated). 
 “Weighted Average Loan Remaining Term” shall mean, with respect to any Loan Action Date, the
weighted average remaining term to maturity (as set forth in the applicable Contracts) of all Loans in the Loan Action Date Loan Pool for such Loan Action Date, determined based upon (i) the Loan Action Date Loan Principal Balance of such Loans
and (ii) the remaining term to maturity of such Loans as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date (or, if such Loan did not exist as of the last day of such Collection Period,
the date on which such Loan was originated). 
 “Wells Fargo” shall mean Wells Fargo Bank, National Association, a national banking
association, and its permitted successors and assigns. 
 “WTNA” shall mean Wilmington Trust, National Association. 

“2019-1 Indenture” shall mean the Indenture, dated as of October 31, 2019, among Regional
Management Issuance Trust 2019-1, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2019-1 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its capacity as indenture
trustee under the 2019-1 Indenture. 
 “2019-1
Issuer” shall mean Regional Management Issuance Trust 2019-1. 
 “2019-1 Securitization” shall mean the asset-backed securitization transaction in an aggregate principal amount of $130,000,000 consummated by Regional Management as of October 31, 2019. 

“2020-1 Indenture” shall mean the Indenture, dated as of September 23, 2020, among
Regional Management Issuance Trust 2020-1, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2020-1 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its capacity as indenture
trustee under the 2020-1 Indenture. 
 “2020-1
Issuer” shall mean Regional Management Issuance Trust 2020-1. 

  
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 “2020-1 Securitization” shall mean the
asset-backed securitization transaction in an aggregate principal amount of $180,000,000 consummated by Regional Management as of September 23, 2020. 

“2021-1 Indenture” shall mean the Indenture, dated as of February 18, 2021, among Regional
Management Issuance Trust 2021-1, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2021-1 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its capacity as indenture
trustee under the 2021-1 Indenture. 
 “2021-1
Issuer” shall mean Regional Management Issuance Trust 2021-1. 
 “2021-1 Securitization” shall mean the asset-backed securitization transaction in an aggregate principal amount of $248,700,000 consummated by Regional Management as of February 18, 2021. 

“2021-2 Indenture” shall mean the Indenture, dated as of July 22, 2021, among Regional
Management Issuance Trust 2021-2, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2021-2 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its capacity as indenture
trustee under the 2021-2 Indenture. 
 “2021-2
Issuer” shall mean Regional Management Issuance Trust 2021-2. 
 “2021-2 Securitization” shall mean the asset-backed securitization transaction in an aggregate principal amount of $200,000,000 consummated by Regional Management as of July 22, 2021. 

  
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 Part B – Rules of Construction 

(a) All terms defined in this Appendix or any Transaction Document shall have the defined meanings when used in any certificate or other document made
or delivered pursuant hereto or thereto unless otherwise defined therein. 
 (b) As used in this Appendix or any Transaction Document, accounting terms
that are not defined herein or therein, and accounting terms partly defined herein or therein shall have the respective meanings given to them under generally accepted accounting principles. To the extent that the definitions of accounting terms in
this Appendix or any Transaction Document are inconsistent with the meanings of such terms under generally accepted accounting principles, the definitions contained in this Appendix or such Transaction Document will control. 

(c) With respect to any Payment Date or Loan Action Date, (i) the “related Collection Period” shall mean the Collection Period immediately
prior to the Collection Period in which such Payment Date or Loan Action Date occurs and (ii) the “related Monthly Determination Date” shall mean the Monthly Determination Date first preceding such Payment Date, and the relationships
among Collection Periods and Monthly Determination Dates will be correlative to the foregoing relationships. 
 (d) Each defined term used in this
Appendix or any Transaction Document has a comparable meaning when used in its plural or singular form. Each gender-specific term used in this Appendix or any Transaction Document has a comparable meaning whether used in a masculine, feminine or
gender-neutral form. 
 (e) Unless otherwise specified, references in this Appendix or any Transaction Document to any amount as on deposit or
outstanding on any particular date shall mean such amount at the close of business on such day. 
 (f) The words “hereof”,
“herein” and “hereunder” and words of similar import when used in this Appendix or any Transaction Document shall refer to this Appendix or such Transaction Document as a whole and not to any particular provision or
subdivision of this Appendix or such Transaction Document; references to any subsection, Section, Schedule or Exhibit contained in this Appendix or any Transaction Document are references to subsections, Sections, Schedules and Exhibits in or to
this Appendix or such Transaction Document unless otherwise specified; and the term “including” shall mean “including without limitation.” The word “or” when used in this Appendix or any Transaction
Document is not exclusive. Whenever the term “including” (whether or not followed by the phrase “but not limited to” or “without limitation” or words of similar effect) is used in this Appendix or any Transaction
Document in connection with a listing of items within a particular classification, that listing will be interpreted to be illustrative only and will not be interpreted as a limitation on, or exclusive listing of, the items within that
classification. 
 (g) Terms used in this Appendix or any Transaction Document herein that are defined in the NYUCC and not otherwise defined shall
have the meanings set forth in the NYUCC unless the context requires otherwise. 

  
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 (h) Any reference in this Appendix or any Transaction Document to the “Appendix,” this
“Appendix,” the “Agreement,” this “Agreement” or words of like import shall be a reference to this Appendix or such Transaction Document as it may be amended, supplemented or modified from time to time. Any definition
of or reference to any agreement, instrument or other document in this Appendix or any Transaction Document shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth in any Transaction Document). 
 (i) Any reference in
this Appendix or any Transaction Document to a “beneficial interest” in a security also shall mean a security entitlement with respect to such security, and any reference herein to a “beneficial owner” or “beneficial
holder” of a security also shall mean the holder of a security entitlement with respect to such security. 
 (j) Any reference in this Appendix or
any Transaction Document to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or
regulation as amended, modified or supplemented from time to time. 
 (k) Any reference to any Person shall include such Person’s respective
permitted successors and assigns. 

  
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 Schedule III 

Perfection Representations, Warranties and Covenants 

In addition to the representations, warranties and covenants contained in this Sale and Servicing Agreement, the Depositor hereby represents, warrants,
and covenants to the Issuer as follows on the Closing Date: 
 1. This Sale and Servicing Agreement creates a valid and continuing security interest
(as defined in the applicable UCC) in the Loans in favor of the Issuer, which security interest is prior to all other Liens (other than Permitted Liens), and is enforceable as such as against creditors of and purchasers from the Depositor. 

2. The Loans constitute “tangible chattel paper,” “payment intangibles,” “accounts,” “instruments,” “general
intangibles” or “electronic chattel paper” within the meaning of the UCC. 
 3. The Depositor owns and has good and marketable title to
the Loans free and clear of any Lien (other than any Permitted Lien), claim or encumbrance of any Person. 
 4. The Depositor will cause, within ten
(10) days after the effective date of this Sale and Servicing Agreement, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of and
the security interest in each Loan sold by the Depositor, and if any additional such filing is necessary in connection with any Additional Loans sold by the Depositor to the Issuer, the Depositor will cause such filings to be made within ten
(10) days of the applicable Addition Date. All financing statements referred to in this paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing statement will violate the rights
of the Secured Party/Purchaser”. 
 5. (a) Other than the conveyance (including any security interest granted) to the Issuer pursuant to this Sale
and Servicing Agreement, the Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Sold Assets (other than any such pledge, assignment, sale, grant or conveyance that is no longer effective); and
(b) the Depositor has not authorized the filing of, and is not aware of, any financing statements against the Depositor that include a description of collateral covering any Loan sold by the Depositor to the Issuer other than any financing
statement (i) relating to the conveyance of the Loans by the Warehouse Borrower to the Seller under the Purchase Agreement, (ii) relating to the conveyance of Loans by a borrower under a warehouse facility pursuant to an Other Warehouse
Purchase Agreement, if applicable, (iii) relating to the conveyance of Loans by a Regional Originator to the Seller under the Omnibus Distribution and Assignment Agreement, (iv) relating to the conveyance of the Loans by the Depositor to
the Issuer pursuant to the Sale and Servicing Agreement, (v) relating to the security interest granted to the Indenture Trustee under the Indenture or (vi) that has been terminated. 

6. The Depositor is not aware of any material judgment, ERISA or tax lien filings against the Depositor. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule III - 1 

 7. On the date of the conveyance of any Loan by the Depositor to the Issuer, the Seller (or any
Affiliate thereof) has in its possession all originals (or, in the case of Convenience Checks, copies) of the instruments and tangible chattel paper that constitute or evidence each Loan sold by the Seller to the Depositor; and none of the tangible
chattel paper that constitute or evidence such Loan sold by such Seller to the Depositor has any stamps, marks or notations indicating that such Loan has been pledged, assigned or otherwise conveyed to any Person other than the Seller, the
Depositor, the Issuer or the Indenture Trustee other than any such stamps, marks or notations that relate to a pledge, assignment, conveyance or other interest that has been cancelled, terminated or voided (or if such stamp, mark or notation is in
the name of an agent (or any predecessor agent) under the ABL Facility, the Issuer has the right to cancel or void such stamp, mark or notation without the consent of such agent (or any predecessor agent, as applicable), and such agent (or any
predecessor agent, as applicable) has released in writing its lien on such Contract). 
 8. Notwithstanding any other provision of this Sale and
Servicing Agreement or any other Transaction Document, the perfection representations, warranties and covenants contained in this Schedule III shall be continuing, and remain in full force and effect until such time as all obligations under this
Sale and Servicing Agreement have been finally and fully paid and performed. 
 9. The Depositor has received all consents and approvals to the sale of
each Loan sold by it under the Sale and Servicing Agreement to the Issuer required by the terms of the Sale and Servicing Agreement to the extent that it constitutes an instrument. 

10. To the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, there is only one single Authoritative Copy of each
electronic “record” constituting or evidencing a Contract that is Electronic Chattel Paper, the record or records composing the Electronic Chattel Paper are created, stored and assigned in such a manner that (A) a single authoritative
copy of the record or records exists which is unique, identifiable and unalterable (other than a revision that is readily identifiable as an authorized or unauthorized revision), (B) each copy of the authoritative copy and any copy of a copy is
readily identifiable as a copy that is not the authoritative copy, (C) the authoritative copy has been communicated to and is maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee, (D) all copies or
revisions that add or change an identified assignee of the Authoritative Copy of such Contract that constitutes or evidences the Loan must be made with the participation of the Indenture Trustee, and (E) such Authoritative Copy identifies only
the Indenture Trustee as the assignee. To the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, none of the Seller, the Servicer, the Electronic Vault Provider nor any other Person has communicated an Authoritative
Copy of such Contract that constitutes or evidences the Loan to any Person other than the Electronic Vault Provider as a designated custodian of the Indenture Trustee pursuant to the terms of the Sale and Servicing Agreement and the Electronic
Collateral Control Agreement from and after the Closing Date or the applicable Addition Date. 
 The Depositor covenants that, in order to evidence
the interests of the Issuer under this the Sale and Servicing Agreement, the Depositor shall take such action, or execute and deliver such instruments as may be necessary or advisable (including, without limitation, such actions as are requested by
the Issuer) to maintain and perfect, as a first-priority interest, the Issuer’s security interest in the Loans. 

  
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Schedule III - 2 

 Schedule IV 

Loan Level Representations, Warranties and Covenants 

With respect to any Loan that is sold by the Seller to the Depositor, the following representations and warranties are made as of the Closing Date and
on each Addition Date as applicable: 
  

	 	1.	 Immediately prior to the sale and assignment to the Depositor, (i) the Seller has sole and exclusive ownership of
such Loan and the Related Loan Assets free and clear of any Lien (other than any Permitted Lien), (ii) the Loan Purchase Agreement effects a valid sale to the Depositor of such Loan and the Related Loan Assets free and clear of any Liens (other than
any Permitted Lien), (iii) upon the Closing Date or Addition Date, as applicable, with respect to such Loan, (a) there will be vested in the Depositor sole and exclusive ownership of such Loan and all Related Loan Assets free and clear of any
Lien (other than any Permitted Lien) of any Person claiming through or under the Seller and in compliance with all Requirements of Law applicable to the Seller and (b) there will have been effected a valid assignment of the Seller’s
interest in such Loan and all Related Loan Assets, enforceable against the Seller and, upon the filing of all appropriate UCC financing statements, against all other persons, including creditors of and all other entities that have purchased or will
purchase assets from the Seller, (iv) no filings, notices or other compliance with any bulk sales provisions of the UCC or other applicable Requirements of Law in respect of bulk sales are required to be made by the Seller, the Depositor or any
Affiliate thereof and (v) such Loan is not subject to any right of set off or similar right. 

  

	 	2.	 All consents, licenses, approvals or authorizations of, or registrations or declarations with, any Governmental Authority
that are required in connection with the sale of such Loan and the Related Loan Assets or in order for the Depositor or any transferee thereof to realize all rights and benefits with respect to such Loan and the Related Loan Assets, in each case
have been obtained or made by it or an Affiliate thereof and are fully effective. 

  

	 	3.	 Seller has not used any selection procedure adverse to the interests of the Depositor, its transferees or the Noteholders
in selecting the related Loans to be sold under the Loan Purchase Agreement on the Closing Date or such Addition Date, as applicable. 

  

	 	4.	 The Loan Schedule (as supplemented by any applicable additional Loan Schedule) identifies each Loan conveyed by the
Seller to the Depositor, as applicable, on the Closing Date or such Addition Date, as applicable. 

  

	 	5.	 As of the applicable Cut-Off Date, such Loan was an Eligible Loan.

  

	 	6.	 Such Loan complies in all material respects with the terms of the applicable Contract. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule IV - 1 

	 	7.	 The Contract for such Loan is a legal, valid and binding obligation of the applicable Regional Originator thereunder and
the related Loan Obligor and any guarantor or co-signer named therein, in each case enforceable in accordance with its terms (except as enforceability may be limited by Debtor Relief Laws or general principles
of equity), and, to Seller’s knowledge, is not subject to offset, recoupment, adjustment or any other claim. 

  

	 	8.	 Seller or an Affiliate thereof has in its possession all originals (or, in the case of Convenience Checks, copies) of the
instruments and tangible chattel paper (if any) that constitute or evidence such Loan on the Closing Date or the related Addition Date, as applicable. 

  

	 	9.	 None of the tangible chattel paper that constitute or evidence such Loan on the Closing Date or such Addition Date, as
applicable, has any stamps, marks or notations indicating that such Loan has been pledged, assigned or otherwise conveyed to any Person other than the Seller, the Depositor, the Issuer or the Indenture Trustee, other than any such stamps, marks or
notations that relate to a pledge, assignment, conveyance or other interest that has been cancelled, terminated or voided (or if such stamp, mark or notation is in the name of an agent (or any predecessor agent) under the ABL Facility, the Issuer
has the right to cancel or void such stamp, mark or notation without the consent of such agent (or any predecessor agent, as applicable), and such agent (or any predecessor agent, as applicable) has released in writing its lien on such Contract).

  

	 	10.	 The Contract for such Loan is freely assignable and such Contract does not require the approval or consent of any related
Loan Obligor or any other person to effectuate the valid assignment of the same by the Regional Originator, the Seller, or any Affiliate thereof. 

  

	 	11.	 Such Loan has been serviced and at all times maintained in accordance with the Credit and Collection Policy by it or an
Affiliate thereof. 

  

	 	12.	 Such Loan arises from or in connection with a bona fide sale or loan transaction (including any amounts in respect
of interest amounts and other charges and fees assessed on such Loan). 

  

	 	13.	 Each Loan Obligor of such Loan is an individual, and such Loan has not been entered into with any corporation,
partnership, association or other similar entity. 

  

	 	14.	 Such Loan, the related Contract and all other related documents comply in all material respects with all Requirements of
Law. Seller and each Affiliate thereof has complied in all material respects with all applicable Requirements of Law with respect to the origination, marketing, maintenance and servicing of such Loan and the disclosures in respect thereof including
any change in the terms of such Loan. The interest rates, fees and charges in connection with such Loan comply, in all material respects, with all Requirements of Law. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule IV - 2 

	 	15.	 (A) Seller or an Affiliate thereof has performed all obligations required to be performed by it or any Affiliate to date
under the related Contract, and all actions of it or an Affiliate thereof taken with respect to such Contract prior to the Closing Date or the related Addition Date, as applicable, have been in compliance, in all material respects, with such
Contract; (B) neither the Seller nor any Affiliate is in default under such Contract; and (C) no event has occurred under such Contract that, with the lapse of time or action by the applicable Loan Obligor or any third party, is reasonably
likely to result in a material default by it or any Affiliate under, any such Contract. 

  

	 	16.	 Seller and each Affiliate thereof (A) has complied in all material respects with the Credit and Collection Policy
relating to such Loan at all times; (B) has not entered into any transaction or made any commitment or agreement in connection with such Loan, other than in the ordinary course of such person’s business consistent in all material respects
with the Credit and Collection Policy as in effect on the date of such transaction, commitment or agreement; and (C) has not amended the terms of any related Contract except in accordance in all material respects with the Credit and Collection
Policy relating to such Loan as in effect on the date of such amendment. 

  

	 	17.	 Neither Seller nor any Affiliate thereof has any known material obligations, commitments or other liabilities, absolute
or contingent, relating to such Loan or the Related Loan Assets. 

  

	 	18.	 Seller or an Affiliate thereof has properly and timely filed all foreign, federal, state, county, local and other tax
returns, including information returns required by law to be filed prior to the Closing Date or the applicable Addition Date with respect to such Loan and the Related Loan Assets and has withheld, paid or accrued all amounts shown thereon to be due
that are due prior to the applicable Cut-Off Date or accrue prior to such time. 

  

	 	19.	 The related Contract, together with its other records relating to such Loan are complete in all material respects and,
upon conveyance thereof to the Depositor under the Loan Purchase Agreement, the Custodian (or any applicable subcustodian or designee of the Indenture Trustee) will be in possession of (or, in the case of an Electronic Contract, the Electronic Vault
will contain) all documents necessary to enforce the rights and remedies of the Regional Originator (as assigned in accordance with the Transaction Documents) in respect of such Loan against the Loan Obligor in accordance with the related Contract.

  

	 	20.	 No transfer of such Loan and Related Loan Assets to the Depositor is being made with intent to hinder, delay or defraud
any of its creditors. 

  

	 	21.	 With the exception of Convenience Checks, to the extent that any Contract relating to such Loan constitutes an instrument
or tangible chattel paper (each within the meaning of Section 9-102 of the UCC), there is only one original of such executed Contract. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule IV - 3 

	 	22.	 [Reserved]. 

  

	 	23.	 The Loan Purchase Agreement, all documents or instruments delivered pursuant to the Loan Purchase Agreement by or with
reference to the Seller or any transaction under the Loan Purchase Agreement, including any Additional Loan Assignment and the assignment agreement (the “Conveyance Papers”) and any statement, report or other document furnished pursuant to
the Loan Purchase Agreement or during the Depositor’s due diligence with respect to the Loan Purchase Agreement and the Conveyance Papers, including documents and information in magnetic or electronic form, are true and correct in all material
respects and do not contain any untrue statement of fact by the Seller or omit to state a fact necessary to make the statements of the Seller contained in the Loan Purchase Agreement or therein, in light of the circumstances under which such
statements were made, not misleading. 

  

	 	24.	 (i) The Loan Purchase Agreement creates a valid and continuing ownership or security interest (as defined in the
applicable UCC) in such Loan sold by the Seller in favor of the Depositor, which security interest or ownership interest is prior to all other Liens (other than Permitted Liens), and is enforceable as such as against creditors of and purchaser from
the Seller; 

 (ii) such Loan constitutes “tangible chattel paper,” “electronic chattel paper,” “payment
intangibles,” “accounts,” “instruments” or “general intangibles” within the meaning of the UCC; 
 (iii) the Seller
owns and has good and marketable title to such Loan and the related Purchased Assets sold by the Seller free and clear of any Lien, claim or encumbrance of any Person; 

(iv) Seller has received all consents and approvals to the sale of each Loan required by the terms of the applicable Contract to the extent that it
constitutes an instrument; 
 (v) Seller has caused or will cause, within ten (10) 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 sale of and the security interest in the Purchased Assets sold by the Seller to the Depositor, and if any additional such
filing is necessary in connection with any transfer of Additional Loans, it will cause such filings to be made within ten (10) days of the applicable Addition Date; all such financing statements referred to in this paragraph contain a statement
that: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Secured Party/Purchaser”; 

(vi) (a) other than the security interest granted and the conveyance to the Depositor pursuant to the Loan Purchase Agreement, Seller has not
pledged, assigned, sold, granted a security interest in, or otherwise conveyed any Purchased Assets sold by the Seller (other than any such pledge, assignment, sale, grant or conveyance that is no longer effective); and 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule IV - 4 

 (b) Seller has not authorized the filing of, and is not aware of, any financing
statements against the Seller that include a description of collateral covering any Loans other than any financing statement (1) relating to the conveyance of the Loans by each Warehouse Borrower to the Seller under the related Purchase
Agreement, (2) relating to the conveyance of Loans by a borrower under a warehouse facility pursuant to an Other Warehouse Purchase Agreement, if applicable, (3) relating to the conveyance of Loans by a Regional Originator to the Seller
under the Omnibus Distribution and Assignment Agreement, (4) relating to the conveyance of the Loans by the Seller to the Depositor pursuant to the Loan Purchase Agreement, (5) relating to the conveyance of the Loans by the Depositor to
the Issuer pursuant to the Sale and Servicing Agreement, (6) relating to the security interest granted to the Indenture Trustee under the Indenture or (7) that has been terminated; 

(vii) Seller is not aware of any material judgment, ERISA or tax lien filings against it; 

(viii) the Seller (or any Affiliate thereof) has in its possession all original copies (except in the case of Convenience Checks) of the instruments and
tangible chattel paper that constitute or evidence each Loan sold by it; and none of the tangible chattel paper that constitute or evidence such Loan has any stamps, marks or notations indicating that such Loan has been pledged, assigned or
otherwise conveyed to any Person other than the Seller, the Depositor, the Issuer or the Indenture Trustee, other than any such stamps, marks or notations that relate to a pledge, assignment, conveyance or other interest that has been cancelled,
terminated or voided (or if such stamp, mark or notation is in the name of an agent (or any predecessor agent) under the ABL Facility, the Issuer has the right to cancel or void such stamp, mark or notation without the consent of such agent (or any
predecessor agent, as applicable), and such agent (or any predecessor agent, as applicable) has released in writing its lien on such Contract); and 

(ix) to the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, there is only one single Authoritative Copy of each
electronic “record” constituting or evidencing a Contract that is Electronic Chattel Paper, the record or records composing the Electronic Chattel Paper are created, stored and assigned in such a manner that (A) a single authoritative
copy of the record or records exists which is unique, identifiable and unalterable (other than a revision that is readily identifiable as an authorized or unauthorized revision), (B) each copy of the authoritative copy and any copy of a copy is
readily identifiable as a copy that is not the authoritative copy, (C) the authoritative copy has been communicated to and is maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee, (D) all copies or
revisions that add or change an identified assignee of the Authoritative Copy of such Contract that 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule IV - 5 

 
constitutes or evidences the Loan must be made with the participation of the Indenture Trustee, and (E) such Authoritative Copy identifies only the Indenture Trustee as the assignee. To the
extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, none of the Seller, the Servicer, the Electronic Vault Provider nor any other Person has communicated an Authoritative Copy of such Contract that constitutes or
evidences the Loan to any Person other than the Electronic Vault Provider as a designated custodian of the Indenture Trustee pursuant to the terms of the Sale and Servicing Agreement and the Electronic Collateral Control Agreement from and after the
Closing Date or the applicable Addition Date. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Schedule IV - 6 

 Exhibit A-1 

Form of Initial Loan Assignment 
 This INITIAL
LOAN ASSIGNMENT (this “Agreement”), dated October 8, 2021, is by Regional Management Receivables III, LLC, a Delaware limited liability company (the “Assignor”), in favor of Regional Management Issuance Trust 2021-3, a Delaware statutory trust (the “Assignee”). Capitalized terms used herein but not defined shall have the meaning ascribed to such terms in the Sale and Servicing Agreement, dated as of
October 8, 2021 (the “Sale and Servicing Agreement”) among the Assignor, the Assignee, Regional Management Corp., as Servicer and the Subservicers party thereto. 

For good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto hereby agree as follows: 

In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby confirm the sale, transfer, conveyance and
assignment to the Assignee of all of the right, title and interest of the Assignor, as Purchaser, in, to and under the Loans identified on Schedule A (the “Initial Assigned Loans”) and the other Sold Assets related thereto. The Cut-Off Date for the Initial Assigned Loans is August 31, 2021. 
 The Assignor specifically reserve and do not
confirm the assignment to the Assignee hereunder of any of their rights, title or interest in, to and under, and all obligations of the Assignor with respect to, any loans which are not the initial Loans set forth on Schedule A and are not the
subject of this Agreement. 
 Schedule A hereto includes the information with respect to the initial Loans required to be included in the Loan
Schedule to be delivered under the Sale and Servicing Agreement on the Closing Date. 
 The Owner Trustee is executing this Agreement not in its
individual capacity, but solely as Owner Trustee on behalf of the Issuer and, accordingly, the Owner Trustee shall incur no personal liability in connection herewith or the transactions contemplated hereby. 

[Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit A-1 – 1 

 IN WITNESS WHEREOF, the parties have caused this Initial Loan Assignment to be executed by their duly
authorized officers as of the date first above written. 
  

			
	ASSIGNOR:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	                  

	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
	
	ASSIGNEE:
	
	REGIONAL MANAGEMENT ISSUANCE TRUST 2021-3, as Issuer
	
	By: WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee of the Issuer
		
	By:	 	                  

	Name:	 	
	Title:	 	

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit A-1 – 2 

 Schedule A 

Loan Schedule 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit A-1 – 3 

 Exhibit A-2 

Form of Additional Loan Assignment 
 This
ADDITIONAL LOAN ASSIGNMENT (this “Agreement”), dated as of [the applicable Addition Date] (the “Addition Date”), is by Regional Management Receivables III, LLC, a Delaware limited liability company (the
“Assignor”), in favor of Regional Management Issuance Trust 2021-3, a Delaware statutory trust (the “Assignee”). Capitalized terms used herein but not defined shall have the
meaning ascribed to such terms in the Sale and Servicing Agreement, dated as of October 8, 2021 (the “Sale and Servicing Agreement”) among the Assignor, the Assignee, Regional Management Corp., as Servicer and the Subservicers
party thereto. 
 For good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto hereby agree
as follows: 
 In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby confirms the sale, transfer,
conveyance and assignment to the Assignee all of the right, title and interest of the Assignor, as Purchasers, in, to and under the Additional Loans identified on Schedule A (the “Assigned Additional Loans”) and the other Sold
Assets related thereto. The Cut-Off Date for the Assigned Additional Loans is [_________]. 
 The Assignor
specifically reserve and do not confirm the assignment to the Assignee hereunder any of its right, title or interest in, to and under and all obligations of the Assignor with respect to any loans which are not the Additional Loans set forth on
Schedule A and are not the subject of this Agreement. 
 Schedule A hereto includes the information required to be included in the Loan Schedule with
respect to the Assigned Additional Loans and the Loan Schedule is hereby supplemented to include the Assigned Additional Loans and other information included in Schedule A. 

[Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit A-2 – 1 

 IN WITNESS WHEREOF, the parties have caused this Additional Loan Assignment to be executed by their
duly authorized officers as of the date first above written. 
  

			
	ASSIGNOR:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	  

	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
	
	ASSIGNEE:
	
	REGIONAL MANAGEMENT ISSUANCE TRUST 2021-3, as Issuer
		
	By:	 	REGIONAL MANAGEMENT CORP.,
		 	as Administrator
		
	By:	 	  

	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit A-2 – 2 

 SCHEDULE A 

LOAN SCHEDULE 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit A-2 – 3 

 EXHIBIT B 

FORM OF ANNUAL COMPLIANCE CERTIFICATE 
 The
undersigned, the duly [OFFICER TITLE] of (“[___________________]”), does hereby certify that: 
 (1) [___________________]
is, as of the date hereof, the Servicer under that certain Sale and Servicing Agreement, dated as of October 8, 2021 (as amended and supplemented, or otherwise modified and in effect from time to time, the “Sale and Servicing
Agreement”) among the Assignor, the Assignee, Regional Management Corp., as Servicer and the Subservicers party thereto. 

(2) The undersigned is an Authorized Officer of the Servicer and is duly authorized pursuant to the Sale and Servicing Agreement
to execute and deliver this Officer’s Certificate to the Issuer and the Indenture Trustee. 
 (3) A review of the activities of
the Servicer during preceding calendar year and of its performance under the Sale and Servicing Agreement was conducted under my supervision. 

(4) Based on such review, the Servicer has, to the best of my knowledge, performed in all material respects all of its obligations under
the Sale and Servicing Agreement and other Transaction Documents throughout such year and no Servicer Default has occurred and is continuing, except as set forth in paragraph 5 below. 

(5) The following is a description of each Servicer Default known to me to have occurred and be continuing as of the date of this
Officer’s Certificate made by the Servicer during the calendar year ended December 31, ________, which sets forth in detail the (a) nature of each such Servicer Default, (b) the action taken by the Servicer, if any, to remedy
each such Servicer Default and (c) the current status of each such Servicer Default: (If applicable, insert “None.”) 

Capitalized terms used but not defined herein are used as defined in the Sale and Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit B-1 

 IN WITNESS WHEREOF, each of the undersigned has duly executed this Officer’s Certificate this
____ day of ____________.1 
  

					
	  

		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

	1 	 Required to be delivered on or before March 31 of each calendar year, beginning with March 31, 2023 pursuant to
Section 3.07 of the Sale and Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit B-2 

 EXHIBIT C 

FORM OF LOAN REASSIGNMENT 
 This LOAN
REASSIGNMENT (this “Agreement”) dated as of [date of applicable Document Delivery Date], by Regional Management Issuance Trust 2021-3, a Delaware statutory trust (the
“Assignor”), in favor of Regional Management Receivables III, LLC, a Delaware limited liability company (the “Assignee”). Capitalized terms used herein but not defined shall have the meaning ascribed to such terms
in the Sale and Servicing Agreement, dated as of October 8, 2021 (the “Sale and Servicing Agreement”) among the Assignor, the Assignee, Regional Management Corp., as Servicer and the Subservicers party thereto. 

For good and valuable consideration, the Assignor hereby agrees as follows: 

In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby grants, transfers and assigns to the Assignee all of
the right, title and interest of the Assignor in, to and under (i) the Loans identified on Schedule A (the “Reassigned Loans”), (ii) the Purchased Assets related thereto, (iii) the right to receive all Collections with respect to
the Purchased Assets after the date hereof, and (iv) all proceeds thereof. 
 The Assignee hereby accepts such assignment and shall deliver to or
at the direction of the Assignor the consideration identified in the preceding paragraph. 
 Notwithstanding anything to the contrary herein, in no
event shall any Loans or related Purchased Assets be transferred from the Assignor to the Assignee pursuant to this Agreement unless such Loans and related Purchased Assets have been released from the lien of the Indenture in accordance with the
terms thereof. 
 The Assignor specifically reserves and does not assign to the Assignee hereunder any of its right, title or interest in, to and
under and all obligations of the Assignor with respect to any Loans which are not the Reassigned Loans set forth on Schedule A and are not the subject of this Agreement. 

The Owner Trustee is executing this Agreement not in its individual capacity, but solely as Owner Trustee on behalf of the Issuer and, accordingly, the
Owner Trustee shall incur no personal liability in connection herewith or the transactions contemplated hereby. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit C-1 

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

			
	ASSIGNOR:
	
	REGIONAL MANAGEMENT ISSUANCE TRUST 2021-3, as Issuer
		
	By:	 	REGIONAL MANAGEMENT CORP.,
		 	as Administrator
		
	By:	 	  

	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
	
	ASSIGNEE:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	  

	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit C-2 

 SCHEDULE A 

LOAN SCHEDULE 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit C-3 

 EXHIBIT D 

FORM OF ACCESSION AGREEMENT 
 THIS ACCESSION
AGREEMENT dated as of [____] [__], [____] (this “Agreement”) is by and among _______________________, a __________________ (the “Company”), and Regional Management Receivables III, LLC (the
“Depositor”). 
 Reference is made to the Sale and Servicing Agreement, dated as of October 8, 2021 (as amended, restated,
modified or supplemented from time to time, the “Sale and Servicing Agreement”), among the Depositor, Regional Management Corp., as Servicer, the Subservicers party thereto, and Regional Management Issuance Trust 2021-3, as Issuer. 
 Capitalized terms used herein without definition shall have the meanings given to them in the
Sale and Servicing Agreement. 
 Pursuant to Section 10.19 of the Sale and Servicing Agreement, an Affiliate of Regional Management may be added
as a party to the Sale and Servicing Agreement as a Subservicer upon satisfaction of the conditions set forth in the Sale and Servicing Agreement, including the delivery to the Indenture Trustee of a fully executed copy of this Agreement. 

In connection therewith: 
 1. The Company hereby
joins in and agrees to be bound by and to comply with each and every provision of the Sale and Servicing Agreement as a Subservicer thereunder. 
 2.
The Company hereby represents and warrants that each representation and warranty contained in Section 3.03 of the Sale and Servicing Agreement is true and correct with respect to the Company as of the date of this Agreement, as if such
representations and warranties were set forth at length herein. 
 3. This Accession Agreement shall be a Transaction Document, shall be binding upon
and enforceable against the Company and its successors and assigns, and shall inure to the benefit of and be enforceable by the Depositor and its assigns. 

[Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit D-1 

 IN WITNESS WHEREOF, each party hereto has caused this Accession Agreement to be executed by its duly
authorized officer as of the date first above written. 
  

			
	[NAME OF COMPANY]
		
	By:	 	  

	Name:
	Title:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	  

	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit D-2 

 EXHIBIT E 

CONDITIONS TO ACCESSION 
 The Depositor shall
have received each of the following in form and substance satisfactory to the Depositor and any assignee thereof: 
 (i) a
fully-executed copy of an Accession Agreement with respect to the Additional Subservicer; 
 (ii) a certificate of the Secretary or
Assistant Secretary of the Additional Subservicer, dated the date of the proposed Accession, certifying (a) the names and true signatures of the incumbent officers of the Additional Subservicer authorized to sign on behalf of the Additional
Subservicer this Agreement Agreements and all other documents to be executed by the Additional Subservicer hereunder or in connection herewith, (b) that the copy of the certificate of formation or articles of incorporation of the Additional
Subservicer, as applicable, is a complete and correct copy and that such certificate of formation or articles of incorporation have not been amended, modified or supplemented and are in full force and effect, (c) that the copy of the limited
liability company agreement or by-laws, as applicable, of the Additional Subservicer are a complete and correct copy, and that such limited liability company agreement or
by-laws have not been amended, modified or supplemented and are in full force and effect, and (d) the resolutions of the board of directors or board of managers of the Additional Subservicer approving and
authorizing the execution, delivery and performance by the Additional Subservicer of this Agreement and all other documents to be executed by the Additional Subservicer hereunder or in connection herewith; 

(iii) a good standing certificate for the Additional Subservicer, dated as of a recent date, issued by the Secretary of State of the
Additional Subservicer’s State of formation or incorporation, as applicable; 
 (iv) an Opinion of Counsel from counsel to the
Additional Subservicer with respect to corporate matters; 
 (v) an Opinion of Counsel from counsel to the Additional Subservicer with
respect to the true sale of Loans sold by the Additional Subservicer and the non consolidation of the Additional Subservicer with the Depositor; and 

(vi) an Officer’s Certificate stating that all conditions precedent to the effectiveness of such Accession are satisfied. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit E-1 

 EXHIBIT F 

RULE 15GA-1 INFORMATION 

Reporting Period: 
  

	☐	 Check here if nothing to report. 

 

																													
	 Asset
 Class
	  	Shelf	  	 Series
 Name
	  	CIK	  	Originator	  	 Loan
 No
	  	 Servicer

Loan No
	  	 Outstanding

Principal
 Balance
	  	 Repurchasing

Type
	  	Indicate Repurchase Activity During the Reporting Period by Checkmark or by Date Reference (as Applicable)
		  		  		  		  		  		  		  		  		  	Subject to Demand	  	 Repurchased
 or
Replaced
	  	 Repurchase

Pending
	  	 Demand

in Dispute
	  	 Demand

Withdrawn
	  	 Demand

Rejected

 TERMS AND DEFINITIONS 

NOTE: Any date included on this report is subject to the descriptions below. Dates referenced on this report for this Transaction where the Servicer is
not the Repurchase Enforcer (as defined below), availability of such information may be dependent upon information received from other parties. 

References to “Repurchaser” shall mean the party obligated under the Transaction Documents to repurchase a Loan. References to
“Repurchase Enforcer” shall mean the party obligated under the Transaction Documents to enforce the obligations of any Repurchaser. 

Outstanding Principal Balance: For purposes of this report, the Outstanding Principal Balance of a Loan in this Transaction equals the remaining
outstanding principal balance of the Loan reflected on the distribution or payment reports at the end of the related reporting period, or if the Loan has been liquidated prior to the end of the related reporting period, the final outstanding
principal balance of the Loan reflected on the distribution or payment reports prior to liquidation. 
 Subject to Demand: The date when a
demand for repurchase is identified and coded by the Servicer or Indenture Trustee as a repurchase related request. 
 Repurchased or Replaced:
The date when a Loan is repurchased or replaced. To the extent such date is unavailable, the date upon which the Servicer or Indenture Trustee obtained actual knowledge a Loan has been repurchased or replaced. 

Repurchase Pending: A Loan is identified as “Repurchase Pending” when a demand notice is sent by the Indenture Trustee, as
Repurchase Enforcer, to the Repurchaser. A Loan remains in this category until (i) a Loan has been Repurchased, (ii) a request is determined to be a “Demand in Dispute,” (iii) a request is determined to be a “Demand
Withdrawn,” or (iv) a request is determined to be a “Demand Rejected.” 
 With respect to the Servicer only, a Loan is
identified as “Repurchase Pending” on the date (y) the Servicer sends notice of any request for repurchase to the related Repurchase Enforcer, or (z) the Servicer receives notice of a repurchase request but determines it is not
required to take further action regarding such request pursuant to its obligations under the applicable Transaction Documents. The Loan will remain in this category until the Servicer receives actual knowledge from the related Repurchase Enforcer,
Repurchaser, or other party, that the repurchase request should be changed to “Demand in Dispute”, “Demand Withdrawn”, “Demand Rejected”, or “Repurchased.” 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit F-1 

 Demand in Dispute: Occurs (i) when a response is received from the Repurchaser which
refutes a repurchase request, or (ii) upon the expiration of any applicable cure period. 
 Demand Withdrawn: The date when a previously
submitted repurchase request is withdrawn by the original requesting party. To the extent such date is not available, the date when the Servicer or the Indenture Trustee receives actual knowledge of any such withdrawal. 

Demand Rejected: The date when the Indenture Trustee, as Repurchase Enforcer, has determined that it will no longer pursue enforcement of a
previously submitted repurchase request. To the extent such date is not otherwise available, the date when the Servicer receives actual knowledge from the Indenture Trustee, as Repurchase Enforcer that it has determined not to pursue a repurchase
request. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit F-2 

 EXHIBIT G 

LIMITED POWER OF ATTORNEY 
 REGIONAL
MANAGEMENT ISSUANCE TRUST 2021-3 (the “Grantor”), hereby makes, constitutes and appoints each of Regional Management Corp., a Delaware corporation (the “Servicer”) and
Regional Finance Corporation of Alabama, an Alabama corporation, Regional Finance Company of Georgia, LLC, a Delaware limited liability company, Regional Finance Company of Illinois, LLC, a Delaware limited liability company, Regional Finance
Company of Missouri, LLC, a Delaware limited liability company, Regional Finance Company of New Mexico, LLC, a Delaware limited liability company, Regional Finance Company of Oklahoma, LLC, a Delaware limited liability company, Regional Finance
Corporation of South Carolina, a South Carolina corporation, Regional Finance Corporation of Tennessee, a Tennessee corporation, Regional Finance Corporation of Texas, a Texas corporation, Regional Finance Company of Virginia, LLC, a Delaware
limited liability company, and Regional Finance Corporation of Wisconsin, a Wisconsin corporation (collectively, the “Subservicers”) (each Subservicer and the Servicer individually and collectively, the “Grantee”),
by and through themselves, their affiliates and their permitted subcontractors, and their respective officers, designees and attorneys-in-fact, its true and lawful Attorneys-in-Fact with full power of substitution, and hereby authorizes and empowers each Grantee, in the name of and on behalf of the Grantor, to have full power and
authority to take any and all lawful acts which it may deem necessary or desirable to effect the servicing and administration of the Loans pursuant to the Sale and Servicing Agreement, dated as of October 8, 2021, among the Grantor, as Issuer,
Regional Management Receivables III, LLC, as Depositor, the Servicer, and the Subservicers (the “Sale and Servicing Agreement”), including, but not limited to: 

(i) Collecting amounts payable under the Loans, 

(ii) Bringing legal actions, enforcing legal prosecution of claims and pursuing any other appropriate remedies in connection with the
servicing and administration of the Loans, and 
 (iii) Signing, executing, acknowledging, delivering, filing for record and/or
recording on behalf of the Grantor all such documents, reports, filings, instruments, certificates and opinions required in connection with the foregoing, including, without limitation, notices, proofs of claim, affidavits, sworn statements, agreed
orders, stipulations, modification agreements, subordination agreements, endorsements, allonges, assignments, and cancellations of promissory notes or other instruments evidencing secured or unsecured indebtedness; and assignments, full and partial
releases, and terminations of UCC financing statements, motor vehicle liens, or other evidence or instrument of lien or security, 
 in each case, to the extent the
Servicer or any Subservicer is authorized to take such action pursuant to the Sale and Servicing Agreement. 
 The power herein granted to the Attorney-in-Fact shall include the power to name itself as grantee, assignee, or beneficiary of said instrument or act. 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit G-1 

 The Grantor gives said
Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every act and thing necessary and proper to carry into effect the
power or powers granted by or under this Limited Power of Attorney as fully as the Grantor might or could do, and hereby does ratify and confirm all that said
Attorney-in-Fact shall lawfully do or cause to be done by authority hereof. 

Third parties without actual notice may rely upon the exercise of the power granted under this Limited Power of Attorney, and may be satisfied that this
Limited Power of Attorney shall continue in full force and effect and has not been revoked unless an instrument of revocation has been made in writing by the Grantor. Capitalized terms used herein but not defined shall have the meanings set forth in
the Sale and Servicing Agreement. 
 The Owner Trustee is executing this Agreement not in its individual capacity, but solely as Owner Trustee on
behalf of the Issuer and, accordingly, the Owner Trustee shall incur no personal liability in connection herewith or the transitions contemplated hereby. 

[Remainder of Page Intentionally Left Blank] 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit G-2 

 IN WITNESS WHEREOF, this Power of Attorney is executed by Grantor as of the date first above written.

  

			
	REGIONAL MANAGEMENT ISSUANCE TRUST 2021-3, as Issuer
	
	By: WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee of the Issuer
		
	By:	 	  

	Name:
	Title:

 STATE OF             } 

                            
    }ss.: 
 COUNTY OF         } 

On this ____ day of ___________________, 2021, before me, the under-signed officer, personally appeared _____________________________, and acknowledged that he or she,
as such ______________________ [title of officer] on behalf of Wilmington Trust, National Association, solely in its capacity as Owner Trustee, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by
signing the name of the Owner Trustee by himself or herself as __________________. 
 In witness whereof I hereunto set my hand and official seal. 

 

	
	  
 Notary Public

 [Notarial Seal] 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit G-3 

 EXHIBIT H 

System Description 
 [On file with the
Indenture Trustee] 

  
 SALE AND SERVICING AGREEMENT (RMIT 2021-3) –
Exhibit H-1Exhibit 10.1

 

Execution Version

 

COMMON STOCK PURCHASE AGREEMENT

 

Dated as of October 12, 2021

 

by and between

 

CINEDIGM CORP.

 

and

 

B. RILEY PRINCIPAL CAPITAL, LLC

 

     

     

    

 

Table
of Contents

 

		 	

                                                                                Page

	 	 	 
	Article I DEFINITIONS	1
	Article II PURCHASE AND SALE OF COMMON STOCK	1
	Section 2.1.	Purchase and Sale of Stock	1
	Section 2.2.	Closing Date; Settlement Dates	2
	Section 2.3.	Initial Public Announcements and Required Filings	2
	Article III PURCHASE TERMS 	3
	Section 3.1.	VWAP Purchases	3
	Section 3.2.	Settlement	3
	Section 3.3.	Compliance with Rules of Trading Market.	4
	Section 3.4.	Beneficial Ownership Limitation	4
	Article IV REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR	5
	Section 4.1.	Organization and Standing of the Investor	5
	Section 4.2.	Authorization and Power	5
	Section 4.3.	No Conflicts	5
	Section 4.4.	Investment Purpose	6
	Section 4.5.	Accredited Investor Status	6
	Section 4.6.	Reliance on Exemptions	6
	Section 4.7.	Information	6
	Section 4.8.	No Governmental Review	7
	Section 4.9.	No General Solicitation	7
	Section 4.10.	Not an Affiliate	7
	Section 4.11.	No Prior Short Sales	7
	Section 4.12.	Statutory Underwriter Status	7
	Section 4.13.	Resales of Securities	7
	Article V REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY	8
	Section 5.1.	Organization, Good Standing and Power	8
	Section 5.2.	Authorization, Enforcement	8
	Section 5.3.	Capitalization	8
	Section 5.4.	Issuance of Securities	8
	Section 5.5.	No Conflicts	9
	Section 5.6.	Commission Documents, Financial Statements; Disclosure Controls and Procedures; Internal Controls Over Financial Reporting; Accountants	9
	Section 5.7.	Subsidiaries	11
	Section 5.8.	No Material Adverse Effect or Material Adverse Change	11
	Section 5.9.	No Material Defaults	11
	Section 5.10.	Intentionally Omitted	12
	Section 5.11.	Indebtedness; Solvency	12
	Section 5.12.	Title To Assets	12
	Section 5.13.	Actions Pending	12

 

    i

     

    

 

	Section 5.14.	Compliance With Law; Compliance with Continued Listing Standards	12
	Section 5.15.	Certain Fees	13
	Section 5.16.	Disclosure	13
	Section 5.17.	Operation of Business	13
	Section 5.18.	Environmental Compliance	14
	Section 5.19.	No Improper Practices	14
	Section 5.20.	Transactions With Affiliates	15
	Section 5.21.	Labor Disputes	15
	Section 5.22.	Use of Proceeds	15
	Section 5.23.	Investment Company Act Status	15
	Section 5.24.	ERISA	16
	Section 5.25.	Taxes	16
	Section 5.26.	Insurance	16
	Section 5.27.	Exemption from Registration	16
	Section 5.28.	No General Solicitation or Advertising	16
	Section 5.29.	No Integrated Offering	17
	Section 5.30.	Dilutive Effect	17
	Section 5.31.	Manipulation of Price	17
	Section 5.32.	Securities Act	17
	Section 5.33.	Listing and Maintenance Requirements; DTC Eligibility	18
	Section 5.34.	Application of Takeover Protections	18
	Section 5.35.	No Unlawful Payments	18
	Section 5.36.	Money Laundering Laws	18
	Section 5.37.	OFAC	19
	Section 5.38.	U.S. Real Property Holding Corporation	19
	Section 5.39.	Information Technology; Compliance With Data Privacy Laws	19
	Section 5.40.	No Disqualification Events	20
	Section 5.41.	Acknowledgement Regarding Investor’s Acquisition of Securities	20
	Article VI ADDITIONAL COVENANTS	20
	Section 6.1.	Securities Compliance	20
	Section 6.2.	Reservation of Common Stock	21
	Section 6.3.	Registration and Listing	21
	Section 6.4.	Compliance with Laws.	21
	Section 6.5.	Keeping of Records and Books of Account; Due Diligence.	22
	Section 6.6.	No Frustration; No Variable Rate Transactions.	22
	Section 6.7.	Corporate Existence	23
	Section 6.8.	Fundamental Transaction	23
	Section 6.9.	Selling Restrictions.	23
	Section 6.10.	Effective Registration Statement	24
	Section 6.11.	Blue Sky	24
	Section 6.12.	Non-Public Information	24
	Section 6.13.	Broker-Dealer	24
	Section 6.14.	Disclosure Schedule.	25
	Section 6.15.	Delivery of Bring Down Opinions and Compliance Certificates Upon Occurrence of Certain Events	25

 

    ii

     

    

 

	Article VII CONDITIONS TO CLOSING, COMMENCEMENT AND VWAP PURCHASES	26
	Section 7.1.	Conditions Precedent to Closing	26
	Section 7.2.	Conditions Precedent to Commencement	27
	Section 7.3.	Conditions Precedent to VWAP Purchases after Commencement Date	30
	Article VIII TERMINATION	34
	Section 8.1.	Automatic Termination	34
	Section 8.2.	Other Termination	34
	Section 8.3.	Effect of Termination	35
	Article IX INDEMNIFICATION 	35
	Section 9.1.	Indemnification of Investor	35
	Section 9.2.	Indemnification Procedures	36
	Article X MISCELLANEOUS	37
	Section 10.1.	Certain Fees and Expenses; Commitment Shares; Commencement Irrevocable Transfer Agent Instructions.	37
	Section 10.2.	Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial.	39
	Section 10.3.	Entire Agreement	39
	Section 10.4.	Notices	39
	Section 10.5.	Waivers	40
	Section 10.6.	Amendments	41
	Section 10.7.	Headings	41
	Section 10.8.	Construction	41
	Section 10.9.	Binding Effect	41
	Section 10.10.	No Third Party Beneficiaries	41
	Section 10.11.	Governing Law	41
	Section 10.12.	Survival	41
	Section 10.13.	Counterparts	42
	Section 10.14.	Publicity	42
	Section 10.15.	Severability	42
	Section 10.16.	Further Assurances	42

 

Annex I. Definitions

 

    iii

     

    

 

COMMON STOCK PURCHASE
AGREEMENT

 

This COMMON STOCK PURCHASE
AGREEMENT is made and entered into as of October 12, 2021 (this “Agreement”), by and between B. Riley Principal
Capital, LLC, a Delaware limited liability company (the “Investor”), and Cinedigm Corp., a Delaware corporation
(the “Company”).

 

RECiTALS

 

WHEREAS, the parties
desire that, upon the terms and subject to the conditions and limitations set forth herein, the Company may issue and sell to the Investor,
from time to time as provided herein, and the Investor shall purchase from the Company, up to the lesser of (i) $50,000,000 in aggregate
gross purchase price of newly issued shares of the Company’s Class A common stock, par value $0.001 per share (“Common
Stock”), and (ii) the Exchange Cap (to the extent applicable under Section 3.3);

 

WHEREAS, such sales
of Common Stock by the Company to the Investor will be made in reliance upon the provisions of Section 4(a)(2) of the Securities Act (“Section
4(a)(2)”) and Rule 506(b) of Regulation D promulgated by the Commission under the Securities Act (“Regulation D”),
and upon such other exemption from the registration requirements of the Securities Act as may be available with respect to any or all
of the sales of Common Stock to the Investor to be made hereunder;

 

WHEREAS, the parties
hereto are concurrently entering into a Registration Rights Agreement in the form attached as Exhibit A hereto (the “Registration
Rights Agreement”), pursuant to which the Company shall register the resale of the Registrable Securities (as defined in
the Registration Rights Agreement), upon the terms and subject to the conditions set forth therein; and

 

WHEREAS, in consideration
for the Investor’s execution and delivery of this Agreement, the Company is concurrently causing its transfer agent to issue to
the Investor the Commitment Shares pursuant to and in accordance with Section 10.1(ii);

 

NOW, THEREFORE, the
parties hereto, intending to be legally bound, hereby agree as follows:

 

Article
I

DEFINITIONS

 

Capitalized terms used in
this Agreement shall have the meanings ascribed to such terms in Annex I hereto, and hereby made a part hereof, or as otherwise
set forth in this Agreement.

 

Article
II

PURCHASE AND SALE OF COMMON STOCK

 

Section 2.1.  Purchase
and Sale of Stock. Upon the terms and subject to the conditions of this Agreement, during the Investment Period, the
Company, in its sole discretion, shall have the right, but not the obligation, to issue and sell to the Investor, and the Investor
shall purchase from the Company, up to the lesser of (i) $50,000,000 (the “Total Commitment”) in aggregate
gross purchase price of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock and (ii) the Exchange
Cap, to the extent applicable under Section 3.3 (such lesser amount of shares of Common Stock, the “Aggregate
Limit”), by the delivery to the Investor of VWAP Purchase Notices as provided in Article III.

 

     

     

    

 

Section 2.2. 
Closing Date; Settlement Dates. This Agreement shall become effective and binding (the “Closing”)
upon (a) the delivery of counterpart signature pages of this Agreement and the Registration Rights Agreement executed by each of the parties
hereto and thereto, and (b) the delivery of all other documents, instruments and writings required to be delivered at the Closing, in
each case as provided in Section 7.1(iv), to the offices of Dorsey & Whitney LLP, 51 West 52nd Street, New York, NY 10019-6119,
at 8:00 a.m., New York City time, on the Closing Date. In consideration of and in express reliance upon the representations, warranties
and covenants contained in, and upon the terms and subject to the conditions of, this Agreement, during the Investment Period, the Company,
at its sole option and discretion, may issue and sell to the Investor, and, if the Company elects to so issue and sell, the Investor shall
purchase from the Company, the Shares in respect of each VWAP Purchase. The delivery of Shares in respect of each VWAP Purchase, and the
payment for such Shares, shall occur in accordance with Section 3.2.

 

Section 2.3.  Initial
Public Announcements and Required Filings. The Company shall, not later than 5:00 p.m., New York City time, on the date of
this Agreement, file with the Commission a Current Report on Form 8-K disclosing the execution of this Agreement and the
Registration Rights Agreement by the Company and the Investor and describing the material terms thereof, including, without
limitation, the issuance of the Commitment Shares to the Investor in accordance with Section 10.1(ii), and attaching as exhibits
thereto copies of each of this Agreement and the Registration Rights Agreement and, if applicable, any press release issued by the
Company disclosing the execution of this Agreement and the Registration Rights Agreement by the Company (including all exhibits
thereto, the “Current Report”). The Company shall provide the Investor a reasonable opportunity to comment
on a draft of the Current Report prior to filing the Current Report with the Commission and shall give due consideration to all such
comments. From and after the filing of the Current Report with the Commission, the Company shall have publicly disclosed all
material, nonpublic information delivered to the Investor (or the Investor’s representatives or agents) by the Company or any
of its Subsidiaries, or any of their respective officers, directors, employees, agents or representatives (if any) in connection
with the transactions contemplated by the Transaction Documents. The Investor covenants that until such time as the transactions
contemplated by this Agreement and the Registration Rights Agreement are publicly disclosed by the Company as described in this
Section 2.3, the Investor shall maintain the confidentiality of all disclosures made to it in connection with the transactions
contemplated by the Transaction Documents (including the existence and terms of the transactions contemplated thereby), except that
the Investor may disclose the terms of such transactions to its financial, accounting, legal and other advisors (provided that the
Investor directs such Persons to maintain the confidentiality of such information). Not later than 15 calendar days following the
Closing Date, the Company shall file a Form D with respect to the issuance and sale of the Securities in accordance with Regulation
D and shall provide a copy thereof to the Investor promptly after such filing. The Company shall use its commercially reasonable
efforts to prepare and, as soon as practicable, but in no event later than the applicable Filing Deadline, file with the Commission
the Initial Registration Statement and any New Registration Statement covering only the resale by the Investor of the Registrable
Securities in accordance with the Securities Act and the Registration Rights Agreement. At or before 8:30 a.m. (New York City time)
on the Trading Day immediately following the Effective Date of the Initial Registration Statement and any New Registration Statement
(or any post-effective amendment thereto), the Company shall use its commercially reasonable efforts to file with the Commission in
accordance with Rule 424(b) under the Securities Act the final Prospectus to be used in connection with sales pursuant to such
Registration Statement (or post-effective amendment thereto).

 

    2

     

    

 

Article
III

PURCHASE TERMS

 

Subject to the satisfaction
of the conditions set forth in Article VII, the parties agree as follows:

 

Section 3.1. 
VWAP Purchases. Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement”
and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time
thereafter, subject to the satisfaction of all of the conditions set forth in Section 7.3, the Company shall have the right, but not the
obligation, to direct the Investor, by its timely delivery to the Investor of a VWAP Purchase Notice, after 6:00 a.m., New York City time,
but prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to purchase the applicable VWAP Purchase Share Amount, not to exceed
the applicable VWAP Purchase Maximum Amount, at the applicable VWAP Purchase Price therefor on such VWAP Purchase Date in accordance with
this Agreement (each such purchase, a “VWAP Purchase”). The Company may timely deliver a VWAP Purchase Notice
to the Investor as often as every Trading Day, so long as (i) the Closing Sale Price of the Common Stock on the Trading Day immediately
preceding such Trading Day is not less than the Threshold Price, and (ii) all Shares subject to all prior VWAP Purchases theretofore required
to have been received by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance
with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance
with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase
Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount, such
VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the VWAP Purchase Share Amount set forth in such
VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase, and
shall not purchase, such excess Shares pursuant to such VWAP Purchase Notice; provided, however, that the Investor shall
remain obligated to purchase the applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase. At or prior to 5:30 p.m., New
York City time, on the VWAP Purchase Date for each VWAP Purchase, the Investor shall provide to the Company a written confirmation for
such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per
Share to be paid by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the
total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. Notwithstanding the foregoing, the Company shall not
deliver any VWAP Purchase Notices to the Investor during the PEA Period.

 

Section 3.2.
 Settlement. The Shares constituting the applicable VWAP Purchase Share Amount purchased by the Investor in each VWAP
Purchase shall be delivered to the Investor as DWAC Shares not later than 1:00 p.m., New York City time, on the Trading Day immediately
following the applicable VWAP Purchase Date for such VWAP Purchase (the “VWAP Purchase Share Delivery Date”)
(it being acknowledged and agreed that the Company may not deliver any additional VWAP Purchase Notice to the Investor until all such
Shares subject to such VWAP Purchase, and all Shares subject to all prior VWAP Purchase Notices, have been received by the Investor as
DWAC Shares in accordance with this Agreement). For each VWAP Purchase, the Investor shall pay to the Company an amount in cash equal
to the product of (a) the total number of Shares purchased by the Investor in such VWAP Purchase and (b) the applicable VWAP Purchase
Price for such Shares, as full payment for such Shares purchased by the Investor in such VWAP Purchase, via wire transfer of immediately
available funds, not later than 5:00 p.m., New York City time, on the Trading Day immediately following the applicable VWAP Purchase
Share Delivery Date for such VWAP Purchase, provided the Investor shall have timely received, as DWAC Shares, all of such Shares purchased
by the Investor in such VWAP Purchase on such VWAP Purchase Share Delivery Date in accordance with the first sentence of this Section
3.2, or, if any of such Shares are received by the Investor after 1:00 p.m., New York City time, then the Company’s receipt of
such funds in its designated account may occur on the Trading Day next following the Trading Day on which the Investor shall have received
all of such Shares as DWAC Shares, but not later than 5:00 p.m., New York City time, on such next Trading Day. If the Company or its
transfer agent shall fail for any reason to deliver to the Investor, as DWAC Shares, any Shares purchased by the Investor in a VWAP Purchase
prior to 10:30 a.m., New York City time, on the Trading Day immediately following the applicable VWAP Purchase Share Delivery Date for
such VWAP Purchase, and if on or after such Trading Day the Investor purchases (in an open market transaction or otherwise) shares of
Common Stock to deliver in satisfaction of a sale by the Investor of such Shares that the Investor anticipated receiving from the Company
on such VWAP Purchase Share Delivery Date in respect of such VWAP Purchase, then the Company shall, within one (1) Trading Day after
the Investor’s request, either (i) pay cash to the Investor in an amount equal to the Investor’s total purchase price (including
brokerage commissions, if any) for the shares of Common Stock so purchased (the “Cover Price”), at which point
the Company’s obligation to deliver such Shares as DWAC Shares shall terminate, or (ii) promptly honor its obligation to deliver
to the Investor such Shares as DWAC Shares and pay cash to the Investor in an amount equal to the excess (if any) of the Cover Price
over the total purchase price paid by the Investor pursuant to this Agreement for all of the Shares purchased by the Investor in such
VWAP Purchase. The Company shall not issue any fraction of a share of Common Stock to the Investor in connection with any VWAP Purchase
effected pursuant to this Agreement. If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company
shall round such fraction of a share of Common Stock up or down to the nearest whole share. All payments to be made by the Investor pursuant
to this Agreement shall be made by wire transfer of immediately available funds to such account as the Company may from time to time
designate by written notice to the Investor in accordance with the provisions of this Agreement.

 

    3

     

    

 

Section 3.3. 
Compliance with Rules of Trading Market.

 

(a) Exchange
Cap. Subject to Section 3.3(b), the Company shall not issue or sell any shares of Common Stock pursuant to this Agreement,
and the Investor shall not purchase or acquire any shares of Common Stock pursuant to this Agreement, to the extent that after
giving effect thereto, the aggregate number of shares of Common Stock that would be issued pursuant to this Agreement and the
transactions contemplated hereby would exceed 33,805,110 (such number of shares equal to 19.99% of the shares of Common Stock issued
and outstanding immediately prior to the execution of this Agreement), which number of shares shall be reduced, on a share-for-share
basis, by the number of shares of Common Stock issued or issuable pursuant to any transaction or series of transactions that may be
aggregated with the transactions contemplated by this Agreement under applicable rules of the Trading Market (such maximum number of
shares, the “Exchange Cap”), unless the Company’s stockholders have approved the issuance of Common
Stock pursuant to this Agreement in excess of the Exchange Cap in accordance with the applicable rules of the Trading Market. For
the avoidance of doubt, the Company may, but shall be under no obligation to, request its stockholders to approve the issuance of
Common Stock pursuant to this Agreement; provided, that if such stockholder approval is not obtained, the Exchange Cap shall
be applicable for all purposes of this Agreement and the transactions contemplated hereby at all times during the term of this
Agreement (except as set forth in Section 3.3(b)).

 

(b)
At-Market Transaction. Notwithstanding Section 3.3(a) above, the Exchange Cap shall not be applicable for any purposes
of this Agreement and the transactions contemplated hereby, solely to the extent that (and only for so long as) the Average Price shall
equal or exceed the Base Price (it being hereby acknowledged and agreed that the Exchange Cap shall be applicable for all purposes of
this Agreement and the transactions contemplated hereby at all other times during the term of this Agreement, unless the stockholder approval
referred to in Section 3.3(a) is obtained). The parties acknowledge and agree that the Minimum Price used to determine the Base Price
hereunder represents the lower of (i) the Nasdaq official closing price of the Common Stock on the Trading Market (as reflected on Nasdaq.com)
on the Trading Day immediately prior to the date of this Agreement and (ii) the average Nasdaq official closing price of the Common Stock
on the Trading Market (as reflected on Nasdaq.com) for the five (5) consecutive Trading Days ending on the Trading Day immediately prior
to the date of this Agreement.

 

(c)
General. The Company shall not issue or sell any shares of Common Stock pursuant to this Agreement if such issuance
or sale would reasonably be expected to result in (A) a violation of the Securities Act or (B) a breach of the rules of the Trading Market.
The provisions of this Section 3.3 shall be implemented in a manner otherwise than in strict conformity with the terms of this Section
3.3 only if necessary to ensure compliance with the Securities Act and the applicable rules of the Trading Market.

 

Section 3.4.  Beneficial
Ownership Limitation. Notwithstanding anything to the contrary contained in this Agreement, the Company shall not issue
or sell, and the Investor shall not purchase or acquire, any shares of Common Stock under this Agreement which, when
aggregated with all other shares of Common Stock then beneficially owned by the Investor and its affiliates (as calculated pursuant
to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by
the Investor of more than 4.99% of the outstanding shares of Common Stock (the “Beneficial Ownership
Limitation”). Upon the written request of the Investor, the Company shall promptly (but not later than the next
business day on which the Company’s transfer agent is open for business) confirm orally or in writing to the Investor the
number of shares of Common Stock then outstanding. The Investor and the Company shall each cooperate in good faith in the
determinations required under this Section 3.4 and the application of this Section 3.4. The Investor’s written certification
to the Company of the applicability of the Beneficial Ownership Limitation, and the resulting effect thereof hereunder at any time,
shall be conclusive with respect to the applicability thereof and such result absent manifest error. The provisions of this Section
3.4 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.4 to the
extent necessary to properly give effect to the limitations contained in this Section 3.4.

 

    4

     

    

 

Article
IV

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR

 

The Investor hereby makes
the following representations, warranties and covenants to the Company:

 

Section 4.1. 
Organization and Standing of the Investor. The Investor is a limited liability company duly organized, validly existing
and in good standing under the laws of the State of Delaware.

 

Section 4.2. 
Authorization and Power. The Investor has the requisite limited liability company power and authority to enter into
and perform its obligations under this Agreement and the Registration Rights Agreement and to purchase or acquire the Securities in accordance
with the terms hereof. The execution, delivery and performance by the Investor of this Agreement and the Registration Rights Agreement
and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary limited liability
company action, and no further consent or authorization of the Investor, its officers or its sole member is required. Each of this Agreement
and the Registration Rights Agreement has been duly executed and delivered by the Investor and constitutes a valid and binding obligation
of the Investor enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation, conservatorship, receivership, or similar laws relating to, or affecting generally
the enforcement of, creditor’s rights and remedies or by other equitable principles of general application (including any limitation
of equitable remedies).

 

Section 4.3.  No
Conflicts. The execution, delivery and performance by the Investor of this Agreement and the Registration Rights Agreement
and the consummation by the Investor of the transactions contemplated hereby and thereby do not and shall not (i) result in a
violation of such Investor’s certificate of formation, limited liability company agreement or other applicable organizational
instruments, (ii) conflict with, constitute a default (or an event which, with notice or lapse of time or both, would become a
default) under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material agreement,
mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Investor is a party
or is bound, (iii) create or impose any lien, charge or encumbrance on any property of the Investor under any agreement or any
commitment to which the Investor is party or under which the Investor is bound or under which any of its properties or assets are
bound, or (iv) result in a violation of any federal, state, local or foreign statute, rule, or regulation, or any order, judgment or
decree of any court or governmental agency applicable to the Investor or by which any of its properties or assets are bound or
affected, except, in the case of clauses (ii), (iii) and (iv), for such conflicts, defaults, terminations, amendments, acceleration,
cancellations and violations as would not, individually or in the aggregate, prohibit or otherwise interfere with, in any material
respect, the ability of the Investor to enter into and perform its obligations under this Agreement and the Registration Rights
Agreement. The Investor is not required under any applicable federal, state or local law, rule or regulation to obtain any consent,
authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to execute,
deliver or perform any of its obligations under this Agreement and the Registration Rights Agreement or to purchase or acquire the
Securities in accordance with the terms hereof; provided, however, that for purposes of the representation made in
this sentence, the Investor is assuming and relying upon the accuracy of the relevant representations and warranties and the
compliance with the relevant covenants and agreements of the Company in the Transaction Documents to which it is a party.

 

    5

     

    

 

Section 4.4. 
Investment Purpose. The Investor is acquiring the Securities for its own account, for investment purposes and not with
a view towards, or for resale in connection with, the public sale or distribution thereof, in violation of the Securities Act or any applicable
state securities laws; provided, however, that by making the representations herein, the Investor does not agree, or make
any representation or warranty, to hold any of the Securities for any minimum or other specific term and reserves the right to dispose
of the Securities at any time in accordance with, or pursuant to, a registration statement filed pursuant to the Registration Rights Agreement
or an applicable exemption under the Securities Act. The Investor does not presently have any agreement or understanding, directly or
indirectly, with any Person to sell or distribute any of the Securities. The Investor is acquiring the Securities hereunder in the ordinary
course of its business.

 

Section 4.5. 
Accredited Investor Status. The Investor is an “accredited investor” as that term is defined in Rule 501(a)
of Regulation D.

 

Section 4.6. 
Reliance on Exemptions. The Investor understands that the Securities are being offered and sold to it in reliance on
specific exemptions from the registration requirements of U.S. federal and state securities laws and that the Company is relying in part
upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Investor set forth herein in order to determine the availability of such exemptions and the eligibility of the
Investor to acquire the Securities.

 

Section 4.7.  Information.
All materials relating to the business, financial condition, management and operations of the Company and materials relating to the
offer and sale of the Securities which have been requested by the Investor have been furnished or otherwise made available to the
Investor or its advisors, including, without limitation, the Commission Documents. The Investor understands that its investment in
the Securities involves a high degree of risk. The Investor is able to bear the economic risk of an investment in the Securities and
has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of a
proposed investment in the Securities. The Investor and its advisors have been afforded the opportunity to ask questions of and
receive answers from representatives of the Company concerning the financial condition and business of the Company and other matters
relating to an investment in the Securities. Neither such inquiries nor any other due diligence investigations conducted by the
Investor or its advisors, if any, or its representatives shall modify, amend or affect the Investor’s right to rely on the
Company’s representations and warranties contained in this Agreement or in any other Transaction Document to which the Company
is a party or the Investor’s right to rely on any other document or instrument executed and/or delivered in connection with
this Agreement or the consummation of the transaction contemplated hereby (including, without limitation, the opinions of the
Company’s counsel delivered pursuant to Sections 7.1(iv) and 7.2(xvi)). The Investor has sought such accounting, legal and tax
advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Securities. The
Investor understands that it (and not the Company) shall be responsible for its own tax liabilities that may arise as a result of
this investment or the transactions contemplated by this Agreement.

 

    6

     

    

 

Section 4.8. 
No Governmental Review. The Investor understands that no United States federal or state agency or any other government
or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the
investment in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

Section 4.9. 
No General Solicitation. The Investor is not purchasing or acquiring the Securities as a result of any form of general
solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Securities.

 

Section 4.10. 
Not an Affiliate. The Investor is not an officer, director or an Affiliate of the Company. As of the date of this Agreement,
the Investor does not beneficially own any shares of Common Stock or securities exercisable for or convertible into shares of Common Stock.
During the Investment Period, the Investor will not acquire for its own account any shares of Common Stock or securities exercisable for
or convertible into shares of Common Stock, other than pursuant to this Agreement; provided, however, that nothing in this
Agreement shall prohibit or be deemed to prohibit the Investor from purchasing, in an open market transaction or otherwise, shares of
Common Stock necessary to make delivery by the Investor in satisfaction of a sale by the Investor of Shares that the Investor anticipated
receiving from the Company in connection with the settlement of a VWAP Purchase if the Company or its transfer agent shall have failed
for any reason (other than a failure of the Investor or its Broker-Dealer to set up a DWAC and required instructions) to electronically
transfer all of the Shares subject to such VWAP Purchase to the Investor on the applicable VWAP Purchase Share Delivery Date by crediting
the Investor’s or its designated Broker-Dealer’s account at DTC through its DWAC delivery system in compliance with Section
3.2 of this Agreement.

 

Section 4.11. 
No Prior Short Sales. At no time prior to the date of this Agreement has the Investor engaged in or effected, in any
manner whatsoever, directly or indirectly, for its own account or for the account of any of its Affiliates, any (i) “short sale”
(as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii) hedging transaction, which establishes
a net short position with respect to the Common Stock.

 

Section 4.12. 
Statutory Underwriter Status. The Investor acknowledges that it will be disclosed as an “underwriter” and
a “selling stockholder” in each Registration Statement and in any Prospectus contained therein to the extent required by applicable
law and to the extent the Prospectus is related to the resale of Registrable Securities.

 

Section 4.13.  Resales
of Securities. The Investor represents, warrants and covenants that it will resell Securities purchased or acquired by the
Investor from the Company pursuant to this Agreement only pursuant to the Registration Statement in which the resale of such
Securities is registered under the Securities Act, in a manner described under the caption “Plan of Distribution” in
such Registration Statement, and in a manner in compliance with all applicable U.S. federal and applicable state securities laws,
rules and regulations.

 

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Article
V

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY

 

Except as set forth in the
disclosure schedule delivered by the Company to the Investor (which is hereby incorporated by reference in, and constitutes an integral
part of, this Agreement) (the “Disclosure Schedule”), the Company hereby makes the following representations,
warranties and covenants to the Investor:

 

Section 5.1. 
Organization, Good Standing and Power. The Company and each of its Material Subsidiaries has been duly incorporated,
is validly existing as a corporation or limited liability company in good standing under the laws of its jurisdiction of incorporation
or organization, has the corporate or limited liability company power and authority to own its property and to conduct its business as
described in the Commission Documents and is duly qualified to transact business and is in good standing in each jurisdiction in which
the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure
to be so qualified or be in good standing would not have a Material Adverse Effect.

 

Section 5.2. 
Authorization, Enforcement. The Company has the requisite corporate power and authority to enter into and perform its
obligations under each of the Transaction Documents to which it is a party and to issue the Securities in accordance with the terms hereof
and thereof. Except for approvals of the Company’s Board of Directors or a committee thereof as may be required in connection with
any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained prior to the delivery of any VWAP Purchase
Notice), the execution, delivery and performance by the Company of each of the Transaction Documents to which it is a party and the consummation
by it of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action, and
no further consent or authorization of the Company, its Board of Directors or its stockholders is required. Each of the Transaction Documents
to which the Company is a party has been duly executed and delivered by the Company and constitutes a valid and binding obligation of
the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally
the enforcement of, creditor’s rights and remedies or by other equitable principles of general application (including any limitation
of equitable remedies).

 

Section 5.3.  Capitalization.
The authorized capital stock of the Company and the shares thereof issued and outstanding were as set forth in the Commission
Documents as of the dates reflected therein. All of the outstanding shares of Common Stock have been duly authorized and validly
issued, and are fully paid and non-assessable. Except as set forth in the Commission Documents, this Agreement and the Registration
Rights Agreement, there are no agreements or arrangements under which the Company is obligated to register the sale of any
securities under the Securities Act. Except as set forth in the Commission Documents, no shares of Common Stock are entitled to
preemptive rights and there are no outstanding debt securities and no contracts, commitments, understandings, or arrangements by
which the Company is or may become bound to issue additional shares of the capital stock of the Company or options, warrants, scrip,
rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into or
exchangeable for, any shares of capital stock of the Company other than those issued or granted in the ordinary course of business
pursuant to the Company’s equity incentive and/or compensatory plans or arrangements. Except for customary transfer
restrictions contained in agreements entered into by the Company to sell restricted securities or as set forth in the Commission
Documents, the Company is not a party to, and it has no Knowledge of, any agreement restricting the voting or transfer of any shares
of the capital stock of the Company. Except as set forth in the Commission Documents, there are no securities or instruments
containing anti-dilution or similar provisions that will be triggered by this Agreement or any of the other Transaction Documents or
the consummation of the transactions described herein or therein. The Company has filed with the Commission true and correct copies
of the Company’s Certificate of Incorporation as in effect on the Closing Date (the “Charter”), and
the Company’s Bylaws as in effect on the Closing Date (the “Bylaws”).

 

Section 5.4. 
Issuance of Securities. The Commitment Shares have been, and the Shares to be issued under this Agreement have been,
or with respect to Shares to be purchased by the Investor pursuant to a particular VWAP Purchase Notice, will be, prior to the delivery
to the Investor hereunder of such VWAP Purchase Notice, duly authorized by all necessary corporate action on the part of the Company.
The Commitment Shares, when issued to the Investor in accordance with this Agreement, and the Shares, when issued and sold against payment
therefor in accordance with this Agreement, shall be validly issued and outstanding, fully paid and non-assessable and free from all liens,
charges, taxes, security interests, encumbrances, rights of first refusal, preemptive or similar rights and other encumbrances with respect
to the issue thereof, and the Investor shall be entitled to all rights accorded to a holder of Common Stock. 25,000,000 shares of Common
Stock have been duly authorized and reserved by the Company for issuance as Shares pursuant to one or more VWAP Purchases under this Agreement.

 

    8

     

    

 

Section 5.5.  No
Conflicts. The execution, delivery and performance by the Company of each of the Transaction Documents to which it is a
party and the consummation by the Company of the transactions contemplated hereby and thereby do not and shall not (i) result in a
violation of any provision of the Company’s Charter or Bylaws, (ii) conflict with or result in a breach or violation of any of
the terms or provisions of, or constitute a default (or an event which, with notice or lapse of time or both, would become a
default) under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material agreement,
mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Company or any of
its Subsidiaries is a party or is bound, (iii) create or impose a lien, charge or encumbrance on any property or assets of the
Company or any of its Subsidiaries under any agreement or any commitment to which the Company or any of its Subsidiaries is a party
or by which the Company or any of its Subsidiaries is bound or to which any of their respective properties or assets is subject, or
(iv) result in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree applicable
to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries are bound or
affected (including federal and state securities laws and regulations and the rules and regulations of the Trading Market or
applicable Eligible Market), except, in the case of clauses (ii), (iii) and (iv), for such conflicts, defaults, terminations,
amendments, acceleration, cancellations, liens, charges, encumbrances and violations as would not, individually or in the aggregate,
have a Material Adverse Effect. Except as specifically contemplated by this Agreement or the Registration Rights Agreement and as
required under the Securities Act and any applicable state securities laws, the Company is not required under any federal, state,
local or foreign law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with,
any court or governmental agency (including, without limitation, the Trading Market) in order for it to execute, deliver or perform
any of its obligations under the Transaction Documents to which it is a party, or to issue the Securities to the Investor in
accordance with the terms hereof and thereof (other than such consents, authorizations, orders, filings or registrations as have
been obtained or made prior to the Closing Date); provided, however, that, for purposes of the representation made in
this sentence, the Company is assuming and relying upon the accuracy of the representations and warranties of the Investor in this
Agreement and the compliance by it with its covenants and agreements contained in this Agreement and the Registration Rights
Agreement.

 

Section 5.6. 
Commission Documents, Financial Statements; Disclosure Controls and Procedures; Internal Controls Over Financial Reporting;
Accountants.

 

(a) The Company has timely
filed (giving effect to permissible extensions in accordance with Rule 12b-25 under the Exchange Act) all Commission Documents for
the twelve months preceding the date of this Agreement. The Company has delivered or made available to the Investor via EDGAR or
otherwise true and complete copies of the Commission Documents filed with or furnished to the Commission prior to the Closing Date
(including, without limitation, the 2021 Form 10-K). No Subsidiary of the Company is required to file or furnish any report,
schedule, registration, form, statement, information or other document with the Commission. As of its filing date, each Commission
Document filed with or furnished to the Commission prior to the Closing Date (including, without limitation, the 2021 Form 10-K)
complied in all material respects with the requirements of the Exchange Act and other federal, state and local laws, rules and
regulations applicable to it, and, as of its filing date (or, if amended or superseded by a filing prior to the Closing Date, on the
date of such amended or superseded filing). Each Registration Statement, on the date it is filed with the Commission, on the date it
is declared effective by the Commission, on each VWAP Purchase Date shall comply in all material respects with the requirements of
the Securities Act (including, without limitation, Rule 415 under the Securities Act) and shall not contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein
not misleading, except that this representation and warranty shall not apply to statements in or omissions from such Registration
Statement made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by
or on behalf of the Investor expressly for use therein. The Prospectus and each Prospectus Supplement required to be filed pursuant
to this Agreement or the Registration Rights Agreement after the Closing Date, when taken together, on its date and on each VWAP
Purchase Date shall comply in all material respects with the requirements of the Securities Act (including, without limitation, Rule
424(b) under the Securities Act) and shall not contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they
were made, not misleading, except that this representation and warranty shall not apply to statements in or omissions from the
Prospectus or any Prospectus Supplement made in reliance upon and in conformity with information relating to the Investor furnished
to the Company in writing by or on behalf of the Investor expressly for use therein. Each Commission Document (other than the
Initial Registration Statement or any New Registration Statement, or the Prospectus included therein or any Prospectus Supplement
thereto) to be filed with or furnished to the Commission after the Closing Date and incorporated by reference in the Initial
Registration Statement or any New Registration Statement, or the Prospectus included therein or any Prospectus Supplement thereto
required to be filed pursuant to this Agreement or the Registration Rights Agreement (including, without limitation, the Current
Report), when such document is filed with or furnished to the Commission and, if applicable, when such document becomes effective,
as the case may be, shall comply in all material respects with the requirements of the Securities Act or the Exchange Act, as
applicable, and other federal, state and local laws, rules and regulations applicable to it. The Company has delivered or made
available to the Investor via EDGAR or otherwise true and complete copies of all comment letters and substantive correspondence
received by the Company from the Commission relating to the Commission Documents filed with or furnished to the Commission as of the
Closing Date, together with all written responses of the Company thereto in the form such responses were filed via EDGAR. There are
no outstanding or unresolved comments or undertakings in such comment letters received by the Company from the Commission. The
Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the
Company under the Securities Act or the Exchange Act.

 

    9

     

    

 

(b) The consolidated
financial statements of the Company included or incorporated by reference in the Commission Documents, together with the related
notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and the
consolidated Subsidiaries as of the dates indicated and the consolidated results of operations, cash flows and changes in
stockholders’ equity of the Company and the consolidated Subsidiaries for the periods specified (subject, in the case of
unaudited statements, to normal year-end audit adjustments which will not be material, either individually or in the aggregate) and
have been prepared in compliance with the published requirements of the Securities Act and Exchange Act, as applicable, and in
conformity with generally accepted accounting principles in the United States (“GAAP”) applied on a
consistent basis (except (i) for such adjustments to accounting standards and practices as are noted therein and (ii) in the case of
unaudited interim statements, to the extent they may exclude footnotes or may be condensed or summary statements) during the periods
involved. The pro forma financial statements or data included or incorporated by reference in the Commission Documents, if any,
comply with the requirements of Regulation S-X of the Securities Act, including, without limitation, Article 11 thereof, and the
assumptions used in the preparation of such pro forma financial statements and data are reasonable, the pro forma adjustments used
therein are appropriate to give effect to the circumstances referred to therein and the pro forma adjustments have been properly
applied to the historical amounts in the compilation of those statements and data. The other financial and statistical data with
respect to the Company and the Subsidiaries contained or incorporated by reference in the Commission Documents, if any, are
accurately and fairly presented and prepared on a basis consistent with the financial statements and books and records of the
Company. There are no financial statements (historical or pro forma) that are required to be included or incorporated by reference
in the Commission Documents that are not included or incorporated by reference as required. The Company and the Subsidiaries do not
have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations or any
“variable interest entities” as that term is used in Accounting Standards Codification Paragraph 810-10-25-20), not
described in Commission Documents which are required to be described in the Commission Documents. All disclosures contained or
incorporated by reference in the Commission Documents, if any, regarding “non-GAAP financial measures” (as such term is
defined by the rules and regulations of the Commission) comply in all material respects with Regulation G of the Exchange Act and
Item 10 of Regulation S-K under the Securities Act, to the extent applicable

 

(c)
Except as set forth in the Commission Documents, the Company maintains a system of internal accounting controls sufficient to provide
reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii)
transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability;
(iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to
any differences. The Company is not aware of any material weaknesses in its internal control over financial reporting (other than as set
forth in the Commission Documents). Except as set forth in the Commission Documents, since the date of the latest audited financial statements
of the Company included in the 2021 Form 10-K, there has been no change in the Company’s internal control over financial reporting
that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
Except as set forth in the Commission Documents, the Company has established disclosure controls and procedures (as defined in Exchange
Act Rules 13a-15 and 15d-15) that comply with the requirements of the Exchange Act. The Company’s certifying officers have evaluated
the effectiveness of the Company’s controls and procedures as of a date within 90 days prior to the filing date of the Form 10-K
for the fiscal year most recently ended (such date, the “Evaluation Date”). The Company presented in its Form 10-K
for the fiscal year most recently ended the conclusions of the certifying officers about the effectiveness of the disclosure controls
and procedures based on their evaluations as of the most recent Evaluation Date and, except as set forth in such Form 10-K or any Commission
Document filed with the Commission for a period subsequent to the period covered by such Form 10-K, the “disclosure controls and
procedures” are effective.

 

(d)
EisnerAmper LLP (the “Accountant”), whose report on the consolidated financial statements of the Company
is filed with the Commission as part of the Company’s most recent Annual Report on Form 10-K filed with the Commission, are and,
during the periods covered by their report, were independent public accountants within the meaning of the Securities Act and the Public
Company Accounting Oversight Board (United States). To the Company’s Knowledge, the Accountant is not in violation of the auditor
independence requirements of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) with respect to the Company.

 

    10

     

    

 

(e) There is and has been
no failure on the part of the Company or, to the Knowledge of the Company, any of the Company’s directors or officers, in
their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley Act and the rules
and regulations promulgated thereunder. Each of the principal executive officer and the principal financial officer of the Company
(or each former principal executive officer of the Company and each former principal financial officer of the Company as applicable)
has made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules,
forms, statements and other documents required to be filed by it or furnished by it to the Commission during the past 12 months. For
purposes of the preceding sentence, “principal executive officer” and “principal financial officer” shall
have the meanings given to such terms in the Exchange Act Rules 13a-15 and 15d-15.

 

Section 5.7. 
Subsidiaries. Exhibit 21.1 of the 2021 Form 10-K and Schedule 5.7, together, set forth each Subsidiary of the Company
as of the Closing Date, other than those that may be omitted pursuant to Item 601 of Regulation S-K, showing its jurisdiction of incorporation
or organization and the percentage of the Company’s ownership of the outstanding capital stock or other ownership interests of such
Subsidiary, and the Company does not have any other Subsidiaries as of the Closing Date.

 

Section 5.8. 
No Material Adverse Effect or Material Adverse Change. Since the date of the most recent financial statements of the
Company included in 2021 Form 10-K, there has not been (i) any Material Adverse Effect, or any development that would result in a Material
Adverse Effect, (ii) any transaction which is material to the Company and the Subsidiaries taken as a whole, (iii) any obligation or liability,
direct or contingent (including any off-balance sheet obligations), incurred by the Company or the Subsidiaries, which is material to
the Company and the Subsidiaries taken as a whole, (iv) any material change in the capital stock (other than (A) the grant of additional
awards under the Company’s existing equity incentive plans or other inducement awards or grants, (B) changes in the number of outstanding
Common Stock of the Company due to the issuance of shares upon the exercise or conversion of securities exercisable for, or convertible
into, Common Stock outstanding on the date hereof, (C) as a result of the issuance of Securities, (D) any repurchases of capital stock
of the Company, (E) as described in a proxy statement filed on Schedule 14A or a Registration Statement on Form S-4, (F) as consideration
for acquisitions, or (G) otherwise publicly announced) or outstanding long-term indebtedness of the Company or the Subsidiaries or
(v) any dividend or distribution of any kind declared, paid or made on the capital stock of the Company or any Subsidiary, other than
in each case above in the ordinary course of business or as otherwise disclosed in the Commission Documents (including any document incorporated
by reference therein).

 

Section 5.9. 
No Material Defaults. Neither the Company nor any Subsidiary has defaulted on any installment on indebtedness for borrowed
money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would have a Material Adverse
Effect. The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing of the 2021 Form 10-K,
indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred stock or (ii) has defaulted on any installment
on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate,
would have a Material Adverse Effect.

 

    11

     

    

 

Section 5.10. 
Intentionally Omitted.

 

Section 5.11.  Indebtedness;
Solvency. The Company’s Quarterly Report on Form 10-Q for its fiscal quarter ended June 30, 2021 sets forth, as of
June 30, 2021, all outstanding secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any
Subsidiary has commitments through such date. For the purposes of this Agreement, “Indebtedness” shall
mean (a) any liabilities for borrowed money or amounts owed in excess of $100,000 (other than trade accounts payable incurred in the
ordinary course of business), (b) all guaranties, endorsements, indemnities and other contingent obligations in respect of
Indebtedness of others in excess of $100,000, whether or not the same are or should be reflected in the Company’s balance
sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar
transactions in the ordinary course of business; and (c) the present value of any lease payments in excess of $100,000 due under
leases required to be capitalized in accordance with GAAP. There is no existing or continuing default or event of default in respect
of any Indebtedness of the Company or any of its Subsidiaries. The Company has not taken any steps, and does not currently expect to
take any steps, to seek protection pursuant to Title 11 of the United States Code or any similar federal or state bankruptcy law or
law for the relief of debtors, nor does the Company have any Knowledge that its creditors intend to initiate involuntary bankruptcy,
insolvency, reorganization or liquidation proceedings or other proceedings for relief under Title 11 of the United States Code or
any other federal or state bankruptcy law or any law for the relief of debtors. The Company is financially solvent and is generally
able to pay its debts as they become due.

 

Section 5.12. 
Title To Assets. The Company and the Subsidiaries have good and valid title in fee simple to all items of real property
and good and valid title to all personal property described in the Commission Documents as being owned by them that are material to the
businesses of the Company or such Subsidiary, in each case free and clear of all liens, encumbrances and claims, except those that (i)
do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries or (ii) would
not, individually or in the aggregate, have a Material Adverse Effect. Any real property described in the Commission Documents as being
leased by the Company and the Subsidiaries is held by them under valid, existing and enforceable leases, except those that (A) do not
materially interfere with the use made or proposed to be made of such property by the Company or the Subsidiaries or (B) would not, individually
or in the aggregate, have a Material Adverse Effect.

 

Section 5.13. 
Actions Pending. Except as disclosed in the Commission Documents, there are no actions, suits, claims, investigations
or proceedings pending or, to the Company’s Knowledge, threatened to which the Company or any of the Subsidiaries is or would be
a party, or of which any of the respective properties or assets of the Company and the Subsidiaries is or would be subject, at law or
in equity, before any court or arbitral body or by or before any federal, state, local or foreign governmental or regulatory commission,
board, body, authority or agency, which are required to be disclosed in the Commission Documents, or which would reasonably be expected
to result in a judgment, decree or order having, individually or in the aggregate, a Material Adverse Effect.

 

Section 5.14. 
Compliance With Law; Compliance with Continued Listing Standards. The Company has not been advised, and has no reason
to believe, that it and each of its Subsidiaries are not conducting business in compliance with all applicable laws, rules and regulations
of the jurisdictions in which it is conducting business, except where failure to be so in compliance would not result in a Material Adverse
Effect. Except as disclosed in the Commission Documents, the Company has not received any notice of any continuing failure to maintain
requirements for continued listing or quotation of its Common Stock on the Trading Market or in violation of any of the rules, regulations
or requirements of the Trading Market.

 

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Section 5.15. Certain
Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial advisor
or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by the
Transaction Documents. The Investor shall have no obligation with respect to any fees or with respect to any claims made by or on behalf
of other Persons for fees of a type contemplated in this Section 5.15 incurred by the Company or its Subsidiaries that may be due or
payable in connection with the transactions contemplated by the Transaction Documents.

 

Section 5.16. 
Disclosure. The Company confirms that neither it nor any other Person acting on its behalf has provided the Investor
or any of its agents, advisors or counsel with any information that constitutes or could reasonably be expected to constitute material,
nonpublic information concerning the Company or any of its Subsidiaries, other than the existence of the transactions contemplated by
the Transaction Documents. The Company understands and confirms that the Investor will rely on the foregoing representations in effecting
resales of Securities under the Registration Statement. All disclosure provided to Investor regarding the Company and its Subsidiaries,
their businesses and the transactions contemplated by the Transaction Documents (including, without limitation, the representations and
warranties of the Company contained in the Transaction Documents to which it is a party (as modified by the Disclosure Schedule)) furnished
in writing by or on behalf of the Company or any of its Subsidiaries for purposes of or in connection with the Transaction Documents (other
than forward-looking information and projections and information of a general economic nature and general information about the Company’s
industry), taken together, is true and correct in all material respects on the date on which such information is dated or certified, and
does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
made therein, in the light of the circumstances under which they were made, not misleading at such time. Each press release issued by
the Company or any of its Subsidiaries during the 12 months preceding the Closing Date did not at the time of release (or, if amended
or superseded by a later dated press release issued by the Company or any of its Subsidiaries prior to the Closing Date or by a later
dated Commission Document filed with or furnished to the Commission by the Company prior to the Closing Date, at the time of issuance
of such later dated press release or filing or furnishing of such Commission Document, as applicable) contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in
the light of the circumstances under which they are made, not misleading.

 

Section 5.17. 
Operation of Business.

 

(a) The Company and the
Subsidiaries possess or have obtained, all licenses, certificates, consents, orders, approvals, permits and other authorizations
issued by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or
regulatory authorities that are necessary for the ownership or lease of their respective properties or the conduct of their
respective businesses as currently conducted, as described in the Registration Statement and the Prospectus (the
“Permits”), except where the failure to possess, obtain or make the same would not, individually or in the
aggregate, have a Material Adverse Effect. Neither the Company nor any Subsidiary has received written notice of any proceeding
relating to revocation or modification of any such Permit or has any reason to believe that such Permit will not be renewed in the
ordinary course, except where the failure to obtain any such renewal would not, individually or in the aggregate, have a Material
Adverse Effect. This Section 5.17(a) does not relate to environmental matters, such items being the subject of Section 5.18.

 

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(b)
The Company and the Subsidiary own or possess adequate enforceable rights to use all patents, patent applications, trademarks (both
registered and unregistered), trade names, trademark registrations, service marks, service mark registrations, Internet domain name registrations,
copyrights, copyright registrations, licenses and know-how (including trade secrets and other unpatented and/or unpatentable proprietary
or confidential information, systems or procedures) (collectively, the “Intellectual Property”), necessary for
the conduct of their respective businesses as conducted as of the date hereof, except to the extent that the failure to own or possess
adequate rights to use such Intellectual Property would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. The Company and the Subsidiaries have not received any written notice of any claim of infringement or conflict which asserted
Intellectual Property rights of others, which infringement or conflict, if the subject of an unfavorable decision, would result in a Material
Adverse Effect. There are no pending, or to the Company’s Knowledge, threatened judicial proceedings or interference proceedings
challenging the Company’s or any Subsidiary’s rights in or to or the validity of the scope of any of the Company’s or
its Subsidiaries’ Intellectual Property. No other entity or individual has any right or claim in any of the Company’s or any
of its Subsidiary’s Intellectual Property by virtue of any contract, license or other agreement entered into between such entity
or individual and the Company or any Subsidiary or by any non-contractual obligation, other than by written licenses granted by the Company
or any Subsidiary. The Company has not received any written notice of any claim challenging the rights of the Company or its Subsidiaries
in or to any Intellectual Property owned, licensed or optioned by the Company or any Subsidiary which claim, if the subject of an unfavorable
decision, would result in a Material Adverse Effect.

 

Section 5.18. 
Environmental Compliance. The Company and the Subsidiaries (i) are in compliance with any and all applicable federal,
state, local and foreign laws, rules, regulations, decisions and orders relating to the protection of human health and safety, the environment
or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”);
(ii) have received and are in compliance with all permits, licenses or other approvals required of them under applicable Environmental
Laws to conduct their respective businesses as described in the Commission Documents; and (iii) have not received notice of any actual
or potential liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants
or contaminants, except, in the case of any of clauses (i), (ii) or (iii) above, for any such failure to comply or failure to receive
required permits, licenses, other approvals or liability as would not, individually or in the aggregate, have a Material Adverse Effect.

 

Section 5.19. 
No Improper Practices. (i) Neither the Company nor, to the Company’s Knowledge,
the Subsidiaries, nor to the Knowledge of the Company, any of their respective executive officers has, in the past five years, made any
unlawful contributions to any candidate for any political office (or failed fully to disclose any contribution in violation of law) or
made any contribution or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other
person charged with similar public or quasi-public duty in violation of any law or of the character required to be disclosed in the Commission
Documents; (ii) no relationship, direct or indirect, exists between or among the Company or, to the Company’s Knowledge, the Subsidiaries
or any affiliate of any of them, on the one hand, and the directors, officers and stockholders of the Company or, to the Company’s
Knowledge, the Subsidiaries, on the other hand, that is required by the Securities Act to be described in the Commission Documents that
is not so described; (iii) no relationship, direct or indirect, exists between or among the Company or the Subsidiaries or any affiliate
of them, on the one hand, and the directors, officers, stockholders or directors of the Company or, to the Company’s Knowledge,
the Subsidiaries, on the other hand, that is required by the rules of FINRA to be described in the Commission Documents that is not so
described; (iv) there are no material outstanding loans or advances or material guarantees of indebtedness by the Company or, to the
Company’s Knowledge, the Subsidiaries to or for the benefit of any of their respective officers or directors or any of the members
of the families of any of them; and (v) the Company has not offered, or caused any placement agent to offer, Common Stock to any person
with the intent to influence unlawfully (A) a customer or supplier of the Company or the Subsidiaries to alter the customer’s or
supplier’s level or type of business with the Company or the Subsidiaries or (B) a trade journalist or publication to write or
publish favorable information about the Company or the Subsidiaries or any of their respective products or services, and, (vi) neither
the Company nor the Subsidiaries nor, to the Company’s Knowledge, any employee or agent of the Company or the Subsidiaries has
made any payment of funds of the Company or the Subsidiaries or received or retained any funds in violation of any law, rule or regulation,
which payment, receipt or retention of funds is of a character required to be disclosed in the Commission Documents.

 

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Section 5.20. 
Transactions With Affiliates. Except as set forth in the Commission Documents, there are no loans, leases, agreements,
contracts, royalty agreements, management contracts, service arrangements or other continuing transactions exceeding $120,000 between
(a) the Company or any Subsidiary, on the one hand, and (b) any person or entity who would be covered by Item 404(a) of Regulation S-K,
on the other hand. Except as disclosed in the Commission Documents, there are no outstanding amounts payable to or receivable from, or
advances by the Company or any of its Subsidiaries to, and neither the Company nor any of its Subsidiaries is otherwise a creditor of
or debtor to, any beneficial owner of more than 5% of the outstanding shares of Common Stock, or any director, employee or affiliate of
the Company or any of its Subsidiaries, other than (i) reimbursement for reasonable expenses incurred on behalf of the Company or any
of its Subsidiaries or (ii) as part of the normal and customary terms of such person’s employment or service as a director with
the Company or any of its Subsidiaries.

 

Section 5.21. 
Labor Disputes. No labor disturbance by or dispute with employees of the Company or any Subsidiary exists or, to the
Knowledge of the Company, is threatened which would result in a Material Adverse Effect.

 

Section 5.22. 
Use of Proceeds. The proceeds from the sale of the Shares by the Company to Investor shall be used by the Company and
its Subsidiaries in the manner as will be set forth in the Prospectus included in any Registration Statement (and any post-effective amendment
thereto) and any Prospectus Supplement thereto filed pursuant to the Registration Rights Agreement.

 

Section 5.23. 
Investment Company Act Status. The Company is not, and as a result of the consummation of the transactions contemplated
by the Transaction Documents and the application of the proceeds from the sale of the Shares as will be set forth in the Prospectus included
in any Registration Statement (and any post-effective amendment thereto) and any Prospectus Supplement thereto filed pursuant to the
Registration Rights Agreement the Company will not be an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.

 

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Section 5.24. 
ERISA. To the Knowledge of the Company, (i) each material employee benefit plan, within the meaning of Section 3(3)
of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) that is maintained, administered
or contributed to by the Company or any of its affiliates for employees or former employees of the Company and the Subsidiaries has been
maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including
but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the “Code”); and (ii) no prohibited
transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would result in a material liability
to the Company with respect to any such plan excluding transactions effected pursuant to a statutory or administrative exemption, other
than, in the case of (i) and (ii) above, as would not have a Material Adverse Effect.

 

Section 5.25. 
Taxes. The Company and each of its Subsidiaries has filed all federal, state, local and foreign tax returns required
to be filed through the date of this Agreement or have requested extensions thereof (except where the failure to file would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect) and have paid all taxes required to be paid thereon (except
for cases in which the failure to file or pay would not reasonably be expected to have a Material Adverse Effect, or, except as currently
being contested in good faith and for which reserves required by GAAP have been created in the financial statements of the Company), and
no tax deficiency has been determined adversely to the Company or any of its Subsidiaries which have had a Material Adverse Effect, nor
does the Company have any notice or Knowledge of any tax deficiency which could reasonably be expected to be determined adversely to the
Company or any of its Subsidiaries and which would reasonably be expected to have a Material Adverse Effect.

 

Section 5.26. 
Insurance. The Company and the Subsidiaries carry, or are covered by, insurance in such amounts and covering such risks
as the Company and the Subsidiaries reasonably believe are adequate for the conduct of their business.

 

Section 5.27. 
Exemption from Registration. Subject to, and in reliance on, the representations, warranties and covenants made herein
by the Investor, the offer and sale of the Securities in accordance with the terms and conditions of this Agreement is exempt from the
registration requirements of the Securities Act pursuant to Section 4(a)(2) and Rule 506(b) of Regulation D; provided, however,
that at the request of and with the express agreements of the Investor (including, without limitation, the representations, warranties
and covenants of Investor set forth in Section 4.9 through 4.13), the Securities to be issued from and after Commencement to or for the
benefit of the Investor pursuant to this Agreement shall be issued to the Investor or its designee only as DWAC Shares and will not bear
legends noting restrictions as to resale of such Securities under federal or state securities laws, nor will any such Securities be subject
to stop transfer instructions.

 

Section 5.28.  No
General Solicitation or Advertising. Neither the Company, nor any of its Subsidiaries or Affiliates, nor any Person acting
on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D)
in connection with the offer or sale of the Securities.

 

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Section 5.29.
No Integrated Offering. None of the Company, its Subsidiaries or any of their Affiliates, nor any Person acting on their
behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances
that would require registration under the Securities Act of the offer, issuance and sale of any of the Securities by the Company to the
Investor pursuant to this Agreement, whether through integration with prior offerings or otherwise, or cause this offering of the Securities
by the Company to require approval of stockholders of the Company under any applicable stockholder approval provisions, including, without
limitation, under the rules and regulations of the Trading Market. None of the Company, its Subsidiaries, their Affiliates nor any Person
acting on their behalf will take any action or steps referred to in the preceding sentence that would require registration under the Securities
Act of the offer, issuance and sale of any of the Securities by the Company to the Investor pursuant to this Agreement or cause the offering
of any of the Securities by the Company to be integrated with any other offering of securities of the Company.

 

Section 5.30. Dilutive
Effect. The Company is aware and acknowledges that issuance of the Securities could cause dilution to existing stockholders and
could significantly increase the outstanding number of shares of Common Stock. The Company further acknowledges that its obligation to
issue the Commitment Shares and to issue the Shares pursuant to the terms of a VWAP Purchase in accordance with this Agreement is, in
each case, absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership interests of other
stockholders of the Company.

 

Section 5.31. Manipulation
of Price. Neither the Company nor any of its officers, directors or Affiliates has, and, to the Knowledge of the Company,
no Person acting on their behalf has, (i) taken, directly or indirectly, any action designed or intended to cause or to result in the
stabilization or manipulation of the price of any security of the Company, or which caused or resulted in, or which would in the future
reasonably be expected to cause or result in, the stabilization or manipulation of the price of any security of the Company, in each
case to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or paid any compensation for soliciting
purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase
any other securities of the Company. Neither the Company nor any of its officers, directors or Affiliates will during the term of this
Agreement, and, to the Knowledge of the Company, no Person acting on their behalf will during the term of this Agreement, take any of
the actions referred to in the immediately preceding sentence.

 

Section 5.32.
Securities Act. The Company has complied and shall comply with all applicable federal and state securities laws in connection
with the offer, issuance and sale of the Securities hereunder, including, without limitation, the applicable requirements of the Securities
Act. Each Registration Statement, upon filing with the Commission and at the time it is declared effective by the Commission, shall satisfy
all of the requirements of the Securities Act to register the resale of the Registrable Securities included therein by the Investor in
accordance with the Registration Rights Agreement on a delayed or continuous basis under Rule 415 under the Securities Act at then-prevailing
market prices, and not fixed prices. The Company is not, and has not previously been at any time, an issuer identified in, or subject
to, Rule 144(i).

 

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Section 5.33. Listing and Maintenance
Requirements; DTC Eligibility. As of the date of this Agreement and the Closing Date, the Common Stock is registered pursuant
to Section 12(b) of the Exchange Act, and the Company has taken no action designed to, or which to its Knowledge is likely to have the
effect of, terminating the registration of the Common Stock under the Exchange Act, nor has the Company received any notification that
the Commission is contemplating terminating such registration. As of the date of this Agreement and the Closing Date, the Company has
not received notice from the Trading Market or any Eligible Market on which the Common Stock is or has been listed or quoted to the effect
that the Company is not in compliance with the listing or maintenance requirements of such Trading Market or Eligible Market, as applicable.
As of the Closing Date, the Company is in compliance with all such listing and maintenance requirements. The Common Stock is eligible
for participation in the DTC book entry system and has shares on deposit at DTC for transferred electronically to third parties via DTC
through its Deposit/Withdrawal at Custodian (“DWAC”) delivery system. The Company has not received notice from
DTC to the effect that a suspension of, or restriction on, accepting additional deposits of the Common Stock, electronic trading or book-entry
services by DTC with respect to the Common Stock is being imposed or is contemplated.

 

Section 5.34.
Application of Takeover Protections. There is no control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s Charter or the laws of its
state of incorporation that is or could become applicable to the Investor as a result of the Investor and the Company fulfilling their
respective obligations or exercising their respective rights under the Transaction Documents (as applicable), including, without limitation,
as a result of the Company’s issuance of the Securities and the Investor’s ownership of the Securities.

 

Section 5.35.
No Unlawful Payments. Neither the Company nor any of its Subsidiaries nor any director or officer, nor, to the Knowledge
of the Company, any employee, agent, representative or Affiliate of the Company, has taken within the past five years any action in furtherance
of an offer, payment, promise to pay, or authorization or approval of the payment or giving of money, property, gifts or anything else
of value, directly or indirectly, to any “government official” (including any officer or employee of a government or government-owned
or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of
the foregoing, or any political party or party official or candidate for political office) to influence official action or secure an improper
advantage (to the extent acting on behalf of or providing services to the Company); and the Company and its Subsidiaries have conducted
their businesses within the past five years in compliance with the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”),
and other applicable anti-corruption or anti-bribery laws, and have instituted and maintain policies and procedures designed to promote
and achieve compliance with such laws and with the representation and warranty contained herein.

 

Section 5.36. Money
Laundering Laws. The operations of the Company are and have been conducted at all times within the past five years in
material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Currency and
Foreign Transactions Reporting Act of 1970, as amended, and the applicable anti-money laundering statutes, including but not limited
to, applicable federal, state, international, foreign or other laws, regulations or government guidance regarding anti-money
laundering, including, without limitation, Title 18 US. Code section 1956 and 1957, the Patriot Act, the Bank Secrecy Act, and
international anti-money laundering principles or procedures by an intergovernmental group or organization, such as the Financial
Action Task Force on Money Laundering, of which the United States is a member and with which designation the United States
representative to the group or organization continues to concur, all as amended, and any Executive order, directive, or regulation
pursuant to the authority of any of the foregoing, or any orders or licenses issued thereunder, of jurisdictions where the Company
conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued,
administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”), and no
action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company
with respect to the Money Laundering Laws is pending or, to the Knowledge of the Company, threatened.

 

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Section 5.37.
OFAC. Neither the Company nor any of its Subsidiaries, nor any director, officer, or employee thereof, nor, to the Company’s
Knowledge, any agent, affiliate or representative of the Company, is a Person that is, or is owned or controlled by a Person that is (i)
the subject of any sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control, the
United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively,
“Sanctions”), nor (ii) located, organized or resident in a country or territory that is the subject of Sanctions
(including, without limitation, Crimea, Cuba, Iran, North Korea, Sudan and Syria). Neither the Company nor any of its Subsidiaries will,
directly or indirectly, use the proceeds from the sale of Shares under this Agreement, or lend, contribute or otherwise make available
such proceeds to any Subsidiary, joint venture partner or other Person (a) to fund or facilitate any activities or business of or with
any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions, or (b) in any
other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as
underwriter, advisor, investor or otherwise). For the past five years, neither the Company nor any of its Subsidiaries have knowingly
engaged in, or are now knowingly engaged in, any dealings or transactions with any Person, or in any country or territory, that at the
time of the dealing or transaction is or was the subject of Sanctions.

 

Section 5.38.
U.S. Real Property Holding Corporation. Neither the Company nor any of its Subsidiaries is, or has ever been, and so
long as any of the Securities are held by the Investor, shall become a U.S. real property holding corporation within the meaning of Section
897 of the Code.

 

Section 5.39. Information
Technology; Compliance With Data Privacy Laws. (i)(x) To the Knowledge of Company, there has been no security breach or
other compromise of any Company’s information technology and computer systems, networks, hardware, software, data (including
the data of their respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of them),
equipment or technology (collectively, “IT Systems and Data”) and (y) the Company has not been notified in
writing of, and has no Knowledge of any event or condition that would reasonably be expected to result in, any security breach or
other compromise to their IT Systems and Data; (ii) to the Knowledge of the Company, the Company is presently in material compliance
with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or
regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT Systems and Data and
to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification, except as would not,
in the case of this clause (ii), individually or in the aggregate, have a Material Adverse Effect; and (iii) the Company has
implemented backup and disaster recovery technology consistent with industry standards and practices.

 

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Section 5.40.
No Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive
officer, other officer of the Company participating in the offering contemplated hereby, any beneficial owner of 20% or more of the Company’s
outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under
the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”)
is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a
“Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the
Securities Act. The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification
Event.

 

Section 5.41.
Acknowledgement Regarding Investor’s Acquisition of Securities. The Company acknowledges and agrees that the Investor
is acting solely in the capacity of an arm’s-length purchaser with respect to this Agreement and the transactions contemplated by
the Transaction Documents. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the
Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated by the Transaction Documents, and
any advice given by the Investor or any of its representatives or agents in connection therewith is merely incidental to the Investor’s
acquisition of the Securities. The Company further represents to the Investor that the Company’s decision to enter into the Transaction
Documents to which it is a party has been based solely on the independent evaluation of the transactions contemplated thereby by the Company
and its representatives. The Company acknowledges and agrees that the Investor has not made and does not make any representations or warranties
with respect to the transactions contemplated by the Transaction Documents other than those specifically set forth in Article IV.

 

Article
VI

ADDITIONAL COVENANTS

 

The Company covenants with
the Investor, and the Investor covenants with the Company, as follows, which covenants of one party are for the benefit of the other party,
during the Investment Period (and with respect to the Company, for the period following the termination of this Agreement specified in
Section 8.3 pursuant to and in accordance with Section 8.3):

 

Section 6.1.
Securities Compliance. The Company shall notify the Commission and the Trading Market, if and as applicable, in accordance
with their respective rules and regulations, of the transactions contemplated by the Transaction Documents, and shall take all necessary
action, undertake all proceedings and obtain all registrations, permits, consents and approvals for the legal and valid issuance of the
Securities to the Investor in accordance with the terms of the Transaction Documents, as applicable.

 

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Section 6.2. Reservation
of Common Stock. The Company has available and the Company shall reserve and keep available at all times, free of preemptive
and other similar rights of stockholders, the requisite aggregate number of authorized but unissued shares of Common Stock to enable
the Company to timely effect (i) the issuance and delivery of all Commitment Shares to be issued and delivered to the Investor under
Section 10.1(ii) hereof within the time period specified in Section 10.1(ii) hereof, and (ii) the issuance, sale and delivery of all
Shares to be issued, sold and delivered in respect of each VWAP Purchase effected under this Agreement, in the case of this clause
(ii), at least prior to the delivery by the Company to the Investor in connection with such VWAP Purchase the applicable VWAP
Purchase Notice. Without limiting the generality of the foregoing, (a) as of the date of this Agreement, the Company has available,
out of its authorized and unissued Common Stock, 210,084 shares of Common Stock for the purpose of issuing all of the Commitment
Shares under this Agreement to be issued and delivered to the Investor under Section 10.1(ii) hereof within the time period
specified in Section 10.1(ii) hereof, and (b) as of the date of this Agreement the Company has reserved, and as of the Commencement
Date shall have continued to reserve, out of its authorized and unissued Common Stock, 25,000,000 shares of Common Stock solely for
the purpose of issuing Shares pursuant to one or more VWAP Purchases that may be effected by the Company, in its sole discretion,
from time to time from and after the Commencement Date under this Agreement. The number of shares of Common Stock so reserved for
the purpose of effecting VWAP Purchases under this Agreement may be increased from time to time by the Company from and after the
Commencement Date, and such number of reserved shares may be reduced from and after the Commencement Date only by the number of
Shares actually issued, sold and delivered to the Investor pursuant to any VWAP Purchase effected from and after the Commencement
Date pursuant to this Agreement.

 

Section 6.3.
Registration and Listing. The Company shall use its commercially reasonable efforts to cause the Common Stock to continue
to be registered as a class of securities under Sections 12(b) of the Exchange Act, and to comply with its reporting and filing obligations
under the Exchange Act, and shall not take any action or file any document (whether or not permitted by the Securities Act or the Exchange
Act) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under the Exchange Act
or Securities Act, except as permitted herein. The Company shall use its commercially reasonable efforts to continue the listing and trading
of its Common Stock and the listing of the Securities purchased or acquired by the Investor hereunder on the Trading Market (or another
Eligible Market) and to comply with the Company’s reporting, filing and other obligations under the rules and regulations of the
Trading Market (or other Eligible Market, as applicable). The Company shall not take any action which could be reasonably expected to
result in the delisting or suspension of the Common Stock on the Trading Market (or other Eligible Market, as applicable). If the Company
receives any final and non-appealable notice that the listing or quotation of the Common Stock on the Trading Market (or other Eligible
Market, as applicable) shall be terminated on a date certain, the Company shall promptly (and in any case within 24 hours) notify the
Investor of such fact in writing and shall use its commercially reasonable efforts to cause the Common Stock to be listed or quoted on
another Eligible Market.

 

Section 6.4.
Compliance with Laws.

 

(i) During the Investment
Period, the Company (a) shall comply, and cause each Subsidiary to comply, with all laws, rules, regulations and orders applicable
to the business and operations of the Company and its Subsidiaries, except as would not have a Material Adverse Effect and (b) with
applicable provisions of the Securities Act and the Exchange Act, including Regulation M thereunder, applicable state securities or
“Blue Sky” laws, and applicable listing rules of the Trading Market (or Eligible Market, as applicable), except as would
not, individually or in the aggregate, prohibit or otherwise interfere with the ability of the Company to enter into and perform its
obligations under this Agreement in any material respect or for Investor to conduct resales of Securities under the Registration
Statement in any material respect. Without limiting the foregoing, neither the Company, nor any of its Subsidiaries, nor to the
Knowledge of the Company, any of their respective directors, officers, agents, employees or any other Persons acting on their behalf
shall, in connection with the operation of the Company’s and its Subsidiaries’ respective businesses, (1) use any
corporate funds for unlawful contributions, payments, gifts or entertainment or to make any unlawful expenditures relating to
political activity to government officials, candidates or members of political parties or organizations, (2) pay, accept or receive
any unlawful contributions, payments, expenditures or gifts, or (3) violate or operate in noncompliance with any export
restrictions, anti-boycott regulations, embargo regulations or other applicable domestic or foreign laws and regulations, including,
without limitation, the FCPA and the Money Laundering Laws.

 

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(ii)   The Investor shall comply with all laws, rules, regulations and orders applicable to the performance by it of its obligations under
this Agreement and its investment in the Securities, except as would not, individually or in the aggregate, prohibit or otherwise interfere
with the ability of the Investor to enter into and perform its obligations under this Agreement in any material respect. Without limiting
the foregoing, the Investor shall comply with all applicable provisions of the Securities Act and the Exchange Act, including Regulation
M thereunder, and all applicable state securities or “Blue Sky” laws.

 

Section 6.5.
Keeping of Records and Books of Account; Due Diligence.

 

(i)
The Investor and the Company shall each maintain records showing the remaining Total Commitment, the remaining Aggregate Limit
and the dates and VWAP Purchase Share Amount for each VWAP Purchase.

 

(ii)
Subject to the requirements of Section 6.12, from time to time from and after the Closing Date, the Company shall make available
for inspection and review by the Investor during normal business hours and after reasonable notice, customary documentation reasonably
requested by the Investor and/or its appointed counsel or advisors to conduct due diligence; provided, however, that after
the Closing Date, the Investor’s continued due diligence shall not be a condition precedent to the Commencement or to the Investor’s
obligation to accept any VWAP Purchase Notice timely delivered by the Company to the Investor in accordance with this Agreement.

 

Section 6.6.
No Frustration; No Variable Rate Transactions.

 

(i) No
Frustration. The Company shall not enter into, announce or recommend to its stockholders any agreement, plan, arrangement or
transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the
Company to perform its obligations under the Transaction Documents to which it is a party, including, without limitation, the
obligation of the Company to deliver (i) the Commitment Shares to the Investor not later than 4:00 p.m. (New York time) on the
Trading Day immediately following the Closing Date in accordance with Section 10.1(ii), and (ii) the Shares to the Investor in
respect of a VWAP Purchase not later than the VWAP Purchase Share Delivery Date in accordance with Section 3.2. For the avoidance of
doubt, nothing in this Section 6.6(i) shall in any way limit the Company’s right to terminate this Agreement in accordance
with Section 8.2 (subject in all cases to Section 8.3).

 

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(ii)
No Variable Rate Transactions. The Company shall not effect or enter into an agreement to effect any issuance by
the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable
Rate Transaction, other than in connection with an Exempt Issuance. The Investor shall be entitled to seek injunctive relief against the
Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition to any right to collect damages, without
the necessity of showing economic loss and without any bond or other security being required.

 

Section 6.7.
Corporate Existence. The Company shall take all steps necessary to preserve and continue the corporate existence of
the Company; provided, however, that, except as provided in Section 6.8, nothing in this Agreement shall be deemed to prohibit
the Company from engaging in any Fundamental Transaction with another Person. For the avoidance of doubt, nothing in this Section 6.7
shall in any way limit the Company’s right to terminate this Agreement in accordance with Section 8.2 (subject in all cases to Section
8.3).

 

Section 6.8.
Fundamental Transaction. If a VWAP Purchase Notice has been delivered to the Investor and the transactions contemplated
therein have not yet been fully settled in accordance with Section 3.2 of this Agreement, the Company shall not effect any Fundamental
Transaction until the expiration of five (5) Trading Days following the date of full settlement thereof and the issuance to the Investor
of all of the Shares that are issuable to the Investor pursuant to the VWAP Purchase to which such VWAP Purchase Notice relates.

 

Section 6.9.
Selling Restrictions.

 

(i) Except as expressly
set forth below, the Investor covenants that from and after the Closing Date through and including the Trading Day next following
the expiration or termination of this Agreement as provided in Article VIII (the “Restricted Period”),
none of the Investor, its officers, its sole member, or any entity managed or controlled by the Investor or its sole member
(collectively, the “Restricted Persons” and each of the foregoing is referred to herein as a
“Restricted Person”) shall, directly or indirectly, (i) engage in any Short Sales of the Common Stock or
(ii) hedging transaction, which establishes a net short position with respect to the Common Stock, with respect to each of clauses
(i) and (ii) hereof, either for its own account or for the account of any other Restricted Person. Notwithstanding the foregoing, it
is expressly understood and agreed that nothing contained herein shall (without implication that the contrary would otherwise
be true) prohibit any Restricted Person during the Restricted Period from: (1) selling “long” (as defined under Rule 200
promulgated under Regulation SHO) the Securities; or (2) selling a number of shares of Common Stock equal to the number of
Shares that the Investor is unconditionally obligated to purchase under a pending VWAP Purchase Notice but has not yet
received from the Company or its transfer agent pursuant to this Agreement, so long as (X) the Investor (or its Broker-Dealer, as
applicable) delivers the Shares purchased pursuant to such VWAP Purchase Notice to the purchaser thereof promptly upon the
Investor’s receipt of such Shares from the Company in accordance with Section 3.2 of this Agreement and (Y) neither the
Company or its transfer agent shall have failed for any reason to deliver such Shares to the Investor or its Broker-Dealer so that
such Shares are timely received by the Investor as DWAC Shares on the applicable VWAP Purchase Share Delivery Date in accordance
with Section 3.2 of this Agreement.

 

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(ii)
In addition to the foregoing, in connection with any sale of Securities (including any sale permitted by paragraph (i) above),
the Investor shall comply in all respects with all applicable laws, rules, regulations and orders, including, without limitation, the
requirements of the Securities Act and the Exchange Act.

 

Section 6.10.
Effective Registration Statement. During the Investment Period, the Company shall use its commercially reasonable efforts
to maintain the continuous effectiveness of the Initial Registration Statement and each New Registration Statement filed with the Commission
under the Securities Act for the applicable Registration Period pursuant to and in accordance with the Registration Rights Agreement.

 

Section 6.11.
Blue Sky. The Company shall take such action, if any, as is necessary by the Company in order to obtain an exemption
for or to qualify the Securities for sale by the Company to the Investor pursuant to the Transaction Documents, and at the request of
the Investor, the subsequent resale of Registrable Securities by the Investor, in each case, under applicable state securities or “Blue
Sky” laws and shall provide evidence of any such action so taken to the Investor from time to time following the Closing Date; provided,
however, that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do business
in any jurisdiction where it would not otherwise be required to qualify but for this Section 6.11, (y) subject itself to general taxation
in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction.

 

Section 6.12.
Non-Public Information. Neither the Company or any of its Subsidiaries, nor any of their respective directors, officers,
employees or agents shall disclose any material non-public information about the Company to the Investor, unless a simultaneous public
announcement thereof is made by the Company in the manner contemplated by Regulation FD. In the event of a breach of the foregoing covenant
by the Company or any of its Subsidiaries, or any of their respective directors, officers, employees and agents (as determined in the
reasonable good faith judgment of the Investor), (i) the Investor shall promptly provide written notice of such breach to the Company
and (ii) after such notice has been provided to the Company and, provided that the Company shall have failed to publicly disclose such
material, non-public information within 24 hours following demand therefor by the Investor, in addition to any other remedy provided herein
or in the other Transaction Documents, the Investor shall have the right to make a public disclosure, in the form of a press release,
public advertisement or otherwise, of such material, non-public information without the prior approval by the Company, any of its Subsidiaries,
or any of their respective directors, officers, employees or agents. The Investor shall not have any liability to the Company, any of
its Subsidiaries, or any of their respective directors, officers, employees, stockholders or agents, for any such disclosure.

 

Section 6.13. Broker-Dealer.
The Investor shall use one or more broker-dealers to effectuate all sales, if any, of the Securities that it may purchase or
otherwise acquire from the Company pursuant to the Transaction Documents, as applicable, which (or whom) shall be a DTC participant
(collectively, the “Broker-Dealer”). The Investor shall, from time to time, provide the Company and the
Transfer Agent with all information regarding the Broker-Dealer reasonably requested by the Company. The Investor shall be solely
responsible for all fees and commissions of the Broker-Dealer (if any), which shall not exceed customary brokerage fees and
commissions and shall be responsible for designating only a DTC participant eligible to receive DWAC Shares.

 

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Section 6.14.
Disclosure Schedule.

 

(i)
The Company may, from time to time, update the Disclosure Schedule as may be required to satisfy the conditions set forth in Section
7.2(i) and Section 7.3(i) (to the extent such condition set forth in Section 7.3(i) relates to the condition in Section 7.2(i) as of a
specific VWAP Purchase Condition Satisfaction Time). For purposes of this Section 6.14, any disclosure made in a schedule to the Compliance
Certificate shall be deemed to be an update of the Disclosure Schedule. Notwithstanding anything in this Agreement to the contrary, no
update to the Disclosure Schedule pursuant to this Section 6.14 shall cure any breach of a representation or warranty of the Company contained
in this Agreement and made prior to the update and shall not affect any of the Investor’s rights or remedies with respect thereto.

 

(ii)
Notwithstanding anything to the contrary contained in the Disclosure Schedule or in this Agreement, the information and disclosure
contained in any Schedule of the Disclosure Schedule shall be deemed to be disclosed and incorporated by reference in any other Schedule
of the Disclosure Schedule as though fully set forth in such Schedule for which applicability of such information and disclosure is readily
apparent on its face. The fact that any item of information is disclosed in the Disclosure Schedule shall not be construed to mean that
such information is required to be disclosed by this Agreement. Except as expressly set forth in this Agreement, such information and
the thresholds (whether based on quantity, qualitative characterization, dollar amounts or otherwise) set forth herein shall not be used
as a basis for interpreting the terms “material” or “Material Adverse Effect” or other similar terms in this Agreement.

 

Section 6.15. Delivery
of Bring Down Opinions and Compliance Certificates Upon Occurrence of Certain Events. Within three (3) Trading Days
immediately following (i) the end of each PEA Period, if the Company is required under the Securities Act to file with the
Commission (A) a post-effective amendment to the Initial Registration Statement required to be filed by the Company with the
Commission pursuant to Section 2(a) of the Registration Rights Agreement, (B) a New Registration Statement required to be filed by
the Company with the Commission pursuant to Section 2(c) of the Registration Rights Agreement, or (C) a post-effective amendment to
a New Registration Statement required to be filed by the Company with the Commission pursuant to Section 2(c) of the Registration
Rights Agreement, in each case with respect to a fiscal year ending after the Commencement Date, to register the resale of
Securities by the Investor under the Securities Act pursuant to this Agreement and the Registration Rights Agreement, and (ii) the
date the Company files with the Commission (A) a Prospectus Supplement to the Prospectus contained in the Initial Registration
Statement or any New Registration Statement under the Securities Act, (B) an annual report on Form 10-K under the Exchange Act with
respect to a fiscal year ending after the Commencement Date, (C) an amendment on Form 10-K/A to an annual report on Form 10-K under
the Exchange Act with respect to a fiscal year ending after the Commencement Date, which contains amended material financial
information (or a restatement of material financial information) or an amendment to other material information contained in a
previously filed Form 10-K, and (D) a Commission Document under the Exchange Act (other than those referred to in clauses (ii)(A)
and (ii)(B) of this Section 6.15), which contains amended material financial information (or a restatement of material financial
information) or an amendment to other material information contained or incorporated by reference in the Initial Registration
Statement, any New Registration Statement, or the Prospectus or any Prospectus Supplement contained in the Initial Registration
Statement or any New Registration Statement (it being hereby acknowledged and agreed that the filing by the Company with the
Commission of a quarterly report on Form 10-Q that includes only updated financial information as of the end of the Company’s
most recent fiscal quarter shall not, in and of itself, constitute an “amendment” or “restatement” for
purposes of clause (ii) of this Section 6.15), in each case of this clause (ii) if the Company is not also then required under the
Securities Act to file a post-effective amendment to the Initial Registration Statement, any New Registration Statement or a
post-effective amendment to any New Registration Statement, in each case with respect to a fiscal year ending after the Commencement
Date, to register the resale of Securities by the Investor under the Securities Act pursuant to this Agreement and the Registration
Rights Agreement, and in any case of this clause (ii), not more than once per calendar quarter, the Company shall (I) deliver to the
Investor a Compliance Certificate, dated such date, and (II) cause to be furnished to the Investor an opinion “bring
down” from outside counsel to the Company substantially in the form mutually agreed to by the Company and the Investor prior
to the date of this Agreement, modified, as necessary, to relate to such Registration Statement or post-effective amendment, or the
Prospectus contained therein as then amended or supplemented by such Prospectus Supplement, as applicable (each such opinion, a
“Bring Down Opinion”).

 

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Article
VII

CONDITIONS TO CLOSING, COMMENCEMENT AND VWAP PURCHASES

 

Section 7.1.
Conditions Precedent to Closing. The Closing is subject to the satisfaction of each of the conditions set forth in this
Section 7.1 on the Closing Date.

 

(i)
Accuracy of the Investor’s Representations and Warranties. The representations and warranties of the Investor
contained in this Agreement (a) that are not qualified by “materiality” shall be true and correct in all material respects
as of the Closing Date, except to the extent such representations and warranties are as of another date, in which case, such representations
and warranties shall be true and correct in all material respects as of such other date and (b) that are qualified by “materiality”
shall be true and correct as of the Closing Date, except to the extent such representations and warranties are as of another date, in
which case, such representations and warranties shall be true and correct as of such other date.

 

(ii) Accuracy of the
Company’s Representations and Warranties. The representations and warranties of the Company contained in this
Agreement (a) that are not qualified by “materiality” or “Material Adverse Effect” shall be true and correct
in all material respects as of the Closing Date, except to the extent such representations and warranties are as of another date, in
which case, such representations and warranties shall be true and correct in all material respects as of such other date and
(b) that are qualified by “materiality” or “Material Adverse Effect” shall be true and correct as of
the Closing Date, except to the extent such representations and warranties are as of another date, in which case, such
representations and warranties shall be true and correct as of such other date.

 

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(iii)
Payment of Document Preparation Fee; Issuance of Commitment Shares. On or prior to the Closing Date, the Company
shall have paid by wire transfer of immediately available funds (a) to an account designated by the Investor or the Investor’s counsel
on or prior to the date hereof, the Document Preparation Fee in accordance with Section 10.1(i), all of which Document Preparation Fee
shall be fully earned and non-refundable as of the Closing Date, regardless of whether any VWAP Purchases are made or settled hereunder
or any subsequent termination of this Agreement. On the Closing Date, the Company shall deliver irrevocable instructions to its transfer
agent to issue to the Investor, not later than 4:00 p.m. (New York City time) on the Trading Day immediately following the Closing Date,
a certificate or book-entry statement representing the Commitment Shares in the name of the Investor or its designee (in which case such
designee name shall have been provided to the Company prior to the Closing Date), in consideration for the Investor’s execution
and delivery of this Agreement. Such certificate or book-entry statement shall be delivered to the Investor by overnight courier at its
address set forth in Section 10.4 hereof. For the avoidance of doubt, all of the Commitment Shares shall be fully earned as of the Closing
Date regardless of whether any VWAP Purchases are made or settled hereunder or any subsequent termination of this Agreement.

 

(iv)
Closing Deliverables. At the Closing, counterpart signature pages of this Agreement and the Registration Rights Agreement
executed by each of the parties hereto shall be delivered as provided in Section 2.2. Simultaneously with the execution and delivery of
this Agreement and the Registration Rights Agreement, the Investor’s counsel shall have received (a) the opinions of outside counsel
to the Company, dated the Closing Date, in the forms mutually agreed to by the Company and the Investor prior to the date of this Agreement,
(b) the closing certificate from the Company, dated the Closing Date, in the form of Exhibit B hereto, and (c) a copy of the irrevocable
instructions to the Company’s transfer agent regarding the issuance to the Investor or its designee of the certificate(s) or book-entry
statement(s) representing the Commitment Shares pursuant to and in accordance with Section 10.1(ii) hereof.

 

Section 7.2.
Conditions Precedent to Commencement. The right of the Company to commence delivering VWAP Purchase Notices under this
Agreement, and the obligation of the Investor to accept VWAP Purchase Notices delivered to the Investor by the Company under this Agreement,
are subject to the initial satisfaction, at Commencement, of each of the conditions set forth in this Section 7.2.

 

(i) Accuracy of the
Company’s Representations and Warranties. The representations and warranties of the Company contained in this
Agreement (a) that are not qualified by “materiality” or “Material Adverse Effect” shall have been true and
correct in all material respects when made and shall be true and correct in all material respects as of the Commencement Date with
the same force and effect as if made on such date, except to the extent such representations and warranties are as of another date,
in which case, such representations and warranties shall be true and correct in all material respects as of such other date and
(b) that are qualified by “materiality” or “Material Adverse Effect” shall have been true and correct
when made and shall be true and correct as of the Commencement Date with the same force and effect as if made on such date, except
to the extent such representations and warranties are as of another date, in which case, such representations and warranties shall
be true and correct as of such other date.

 

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(ii)
Performance of the Company. The Company shall have performed, satisfied and complied in all material respects with
all covenants, agreements and conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or
complied with by the Company at or prior to the Commencement. The Company shall deliver to the Investor on the Commencement Date the compliance
certificate substantially in the form attached hereto as Exhibit C (the “Compliance Certificate”).

 

(iii)
Initial Registration Statement Effective. The Initial Registration Statement covering the resale by the Investor
of the Registrable Securities included therein required to be filed by the Company with the Commission pursuant to Section 2(a) of the
Registration Rights Agreement shall have been declared effective under the Securities Act by the Commission, and the Investor shall be
permitted to utilize the Prospectus therein to resell (i) all of the Commitment Shares and (ii) all of the Shares included in such Prospectus.

 

(iv)
No Material Notices. None of the following events shall have occurred and be continuing: (a) receipt of any request
by the Commission or any other federal or state governmental authority for any additional information relating to the Initial Registration
Statement, the Prospectus contained therein or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial
Registration Statement, the Prospectus contained therein or any Prospectus Supplement thereto; (b) the issuance by the Commission or any
other federal or state governmental authority of any stop order suspending the effectiveness of the Initial Registration Statement or
prohibiting or suspending the use of the Prospectus contained therein or any Prospectus Supplement thereto, or of the suspension of qualification
or exemption from qualification of the Securities for offering or sale in any jurisdiction, or the initiation or contemplated initiation
of any proceeding for such purpose; or (c) the occurrence of any event or the existence of any condition or state of facts, which makes
any statement of a material fact made in the Initial Registration Statement, the Prospectus contained therein or any Prospectus Supplement
thereto untrue or which requires the making of any additions to or changes to the statements then made in the Initial Registration Statement,
the Prospectus contained therein or any Prospectus Supplement thereto in order to state a material fact required by the Securities Act
to be stated therein or necessary in order to make the statements then made therein (in the case of the Prospectus or any Prospectus Supplement,
in light of the circumstances under which they were made) not misleading, or which requires an amendment to the Initial Registration Statement
or a supplement to the Prospectus contained therein or any Prospectus Supplement thereto to comply with the Securities Act or any other
law. The Company shall have no Knowledge of any event that could reasonably be expected to have the effect of causing the suspension of
the effectiveness of the Initial Registration Statement or the prohibition or suspension of the use of the Prospectus contained therein
or any Prospectus Supplement thereto in connection with the resale of the Registrable Securities by the Investor.

 

(v) Other Commission
Filings. The Current Report and the Form D shall have been filed with the Commission as required pursuant to Section 2.3.
The final Prospectus included in the Initial Registration Statement shall have been filed with the Commission prior to Commencement
in accordance with Section 2.3 and the Registration Rights Agreement. All reports, schedules, registrations, forms, statements,
information and other documents required to have been filed by the Company with the Commission pursuant to the reporting
requirements of the Exchange Act, including all material required to have been filed pursuant to Section 13(a) or 15(d) of the
Exchange Act, prior to Commencement shall have been filed with the Commission.

 

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(vi)
No Suspension of Trading in or Notice of Delisting of Common Stock. Trading in the Common Stock shall not have been
suspended by the Commission, the Trading Market or the FINRA (except for any suspension of trading of limited duration agreed to by the
Company, which suspension shall be terminated prior to the Commencement Date), the Company shall not have received any final and non-appealable
notice that the listing or quotation of the Common Stock on the Trading Market shall be terminated on a date certain (unless, prior to
such date certain, the Common Stock is listed or quoted on any other Eligible Market), nor shall there have been imposed any suspension
of, or restriction on, accepting additional deposits of the Common Stock, electronic trading or book-entry services by DTC with respect
to the Common Stock that is continuing, the Company shall not have received any notice from DTC to the effect that a suspension of, or
restriction on, accepting additional deposits of the Common Stock, electronic trading or book-entry services by DTC with respect to the
Common Stock is being imposed or is contemplated (unless, prior to such suspension or restriction, DTC shall have notified the Company
in writing that DTC has determined not to impose any such suspension or restriction).

 

(vii)
Compliance with Laws. The Company shall have complied with all applicable federal, state and local governmental laws,
rules, regulations and ordinances in connection with the execution, delivery and performance of this Agreement and the other Transaction
Documents to which it is a party and the consummation of the transactions contemplated hereby and thereby, including, without limitation,
the Company shall have obtained all permits and qualifications required by any applicable state securities or “Blue Sky” laws
for the offer and sale of the Securities by the Company to the Investor and the subsequent resale of the Registrable Securities by the
Investor (or shall have the availability of exemptions therefrom).

 

(viii)
No Injunction. No statute, regulation, order, decree, writ, ruling or injunction shall have been enacted, entered,
promulgated, threatened or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation
of or which would materially modify or delay any of the transactions contemplated by the Transaction Documents.

 

(ix)
No Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any court or governmental authority
shall have been commenced, and no inquiry or investigation by any governmental authority shall have been commenced, against the Company
or any Subsidiary, or any of the officers, directors or Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change
the transactions contemplated by the Transaction Documents, or seeking material damages in connection with such transactions.

 

(x)
Listing of Securities. All of the Securities that have been and may be issued pursuant to this Agreement shall have
been approved for listing or quotation on the Trading Market (or on an Eligible Market) as of the Commencement Date, subject only to notice
of issuance.

 

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(xi)
 No Material Adverse Effect. No condition, occurrence, state of facts or event constituting a Material Adverse Effect
shall have occurred and be continuing.

 

(xii)
No Bankruptcy Proceedings. No Person shall have commenced a proceeding against the Company pursuant to or within
the meaning of any Bankruptcy Law. The Company shall not have, pursuant to or within the meaning of any Bankruptcy Law, (a) commenced
a voluntary case, (b) consented to the entry of an order for relief against it in an involuntary case, (c) consented to the appointment
of a Custodian of the Company or for all or substantially all of its property, or (d) made a general assignment for the benefit of its
creditors. A court of competent jurisdiction shall not have entered an order or decree under any Bankruptcy Law that (I) is for relief
against the Company in an involuntary case, (II) appoints a Custodian of the Company or for all or substantially all of its property,
or (III) orders the liquidation of the Company or any of its Subsidiaries.

 

(xiii)
Commitment Shares Issued as DWAC Shares. The Company shall have caused the Company’s transfer agent to credit
the Investor’s or its designee’s account at DTC as DWAC Shares such number of shares of Common Stock equal to the number of
Commitment Shares issued to the Investor pursuant to Section 10.1(ii) hereof, in accordance with Section 10.1(iv) hereof.

 

(xiv)
Delivery of Commencement Irrevocable Transfer Agent Instructions and Notice of Effectiveness. The Commencement Irrevocable
Transfer Agent Instructions shall have been executed by the Company and delivered to acknowledged in writing by the Company’s transfer
agent, and the Notice of Effectiveness relating to the Initial Registration Statement shall have been executed by the Company’s
outside counsel and delivered to the Company’s transfer agent, in each case directing such transfer agent to issue to the Investor
or its designated Broker-Dealer all of the Commitment Shares and Shares included in the Initial Registration Statement as DWAC Shares
in accordance with this Agreement and the Registration Rights Agreement.

 

(xv)   
Reservation of Shares. As of the Commencement Date, the Company shall have reserved out of its authorized and unissued
Common Stock, 25,000,000 shares of Common Stock solely for the purpose of issuing Shares pursuant to VWAP Purchases that may be effected
by the Company, in its sole discretion, from and after the Commencement Date under this Agreement.

 

(xvi)
Opinions and Bring-Down Opinions of Company Counsel. On the Commencement Date, the Investor shall have received the
opinions, bring-down opinions and negative assurances from outside counsel to the Company, dated the Commencement Date, in the forms mutually
agreed to by the Company and the Investor prior to the date of this Agreement.

 

Section 7.3. Conditions
Precedent to VWAP Purchases after Commencement Date. The right of the Company to deliver VWAP Purchase Notices under this
Agreement after the Commencement Date, and the obligation of the Investor to accept VWAP Purchase Notices under this Agreement after
the Commencement Date, are subject to the satisfaction of each of the conditions set forth in this Section 7.3 at the applicable
VWAP Purchase Commencement Time for the VWAP Purchase to be effected pursuant to the applicable VWAP Purchase Notice timely
delivered by the Company to the Investor in accordance with this Agreement (each such time, a “VWAP Purchase Condition
Satisfaction Time”).

 

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(i)
Satisfaction of Certain Prior Conditions. Each of the conditions set forth in subsections (i), (ii), and (vii) through
(xiv) set forth in Section 7.2 shall be satisfied at the applicable VWAP Purchase Condition Satisfaction Time after the Commencement Date
(with the terms “Commencement” and “Commencement Date” in the conditions set forth in subsections (i) and (ii)
of Section 7.2 replaced with “applicable VWAP Purchase Condition Satisfaction Time”); provided, however, that
the Company shall not be required to deliver the Compliance Certificate after the Commencement Date, except as provided in Section 6.15
and Section 7.3(x).

 

(ii)
Initial Registration Statement Effective. The Initial Registration Statement covering the resale by the Investor
of the Registrable Securities included therein filed by the Company with the Commission pursuant to Section 2(a) of the Registration Rights
Agreement, and any post-effective amendment thereto required to be filed by the Company with the Commission after the Commencement Date
and prior to the applicable VWAP Purchase Date pursuant to the Registration Rights Agreement, in each case shall have been declared effective
under the Securities Act by the Commission and shall remain effective for the applicable Registration Period (as defined in the Registration
Rights Agreement), and the Investor shall be permitted to utilize the Prospectus therein, and any Prospectus Supplement thereto, to resell
(a) all of the Commitment Shares, (b) all of the Shares included in the Initial Registration Statement, and any post-effective amendment
thereto, that have been issued and sold to the Investor hereunder pursuant to all VWAP Purchase Notices delivered by the Company to the
Investor prior to such applicable VWAP Purchase Date and (c) all of the Shares included in the Initial Registration Statement, and any
post-effective amendment thereto, that are issuable pursuant to the applicable VWAP Purchase Notice delivered by the Company to the Investor
with respect to a VWAP Purchase to be effected hereunder on such applicable VWAP Purchase Date.

 

(iii)
Any Required New Registration Statement Effective. Any New Registration Statement covering the resale by the Investor
of the Registrable Securities included therein, and any post-effective amendment thereto, required to be filed by the Company with the
Commission pursuant to the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase Date, in
each case shall have been declared effective under the Securities Act by the Commission and shall remain effective for the applicable
Registration Period, and the Investor shall be permitted to utilize the Prospectus therein, and any Prospectus Supplement thereto, to
resell (a) all of the Commitment Shares (if any) included in such New Registration Statement, and any post-effective amendment thereto,
(b) all of the Shares included in such New Registration Statement, and any post-effective amendment thereto, that have been issued and
sold to the Investor hereunder pursuant to all VWAP Purchase Notices delivered by the Company to the Investor prior to such applicable
VWAP Purchase Date and (c) all of the Shares included in such new Registration Statement, and any post-effective amendment thereto, that
are issuable pursuant to the applicable VWAP Purchase Notice delivered by the Company to the Investor with respect to a VWAP Purchase
to be effected hereunder on such applicable VWAP Purchase Date.

 

(iv) Delivery of
Subsequent Irrevocable Transfer Agent Instructions and Notice of Effectiveness. With respect to any post-effective amendment
to the Initial Registration Statement, any New Registration Statement or any post-effective amendment to any New Registration
Statement, in each case declared effective by the Commission after the Commencement Date, the Company shall have delivered or caused
to be delivered to the Company’s transfer agent (a) irrevocable instructions in the form substantially similar to the
Commencement Irrevocable Transfer Agent Instructions executed by the Company and acknowledged in writing by its transfer agent and
(b) the Notice of Effectiveness, in each case modified as necessary to refer to such Registration Statement or post-effective
amendment and the Registrable Securities included therein, to issue the Registrable Securities included therein as DWAC Shares in
accordance with the terms of this Agreement and the Registration Rights Agreement.

 

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(v) No Material
Notices. None of the following events shall have occurred and be continuing: (a) receipt of any request by the Commission or
any other federal or state governmental authority for any additional information relating to the Initial Registration Statement or
any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus
contained in any of the foregoing or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial
Registration Statement or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment
thereto, or the Prospectus contained in any of the foregoing or any Prospectus Supplement thereto; (b) the issuance by the
Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of the Initial
Registration Statement or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment
thereto, or prohibiting or suspending the use of the Prospectus contained in any of the foregoing or any Prospectus Supplement
thereto, or of the suspension of qualification or exemption from qualification of the Securities for offering or sale in any
jurisdiction, or the initiation or contemplated initiation of any proceeding for such purpose; or (c) the occurrence of any event or
the existence of any condition or state of facts, which makes any statement of a material fact made in the Initial Registration
Statement or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the
Prospectus contained in any of the foregoing or any Prospectus Supplement thereto untrue or which requires the making of any
additions to or changes to the statements then made in the Initial Registration Statement or any post-effective amendment thereto,
any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained in any of the foregoing or any
Prospectus Supplement thereto in order to state a material fact required by the Securities Act to be stated therein or necessary in
order to make the statements then made therein (in the case of the Prospectus or any Prospectus Supplement, in light of the
circumstances under which they were made) not misleading, or which requires an amendment to the Initial Registration Statement or
any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus
contained in any of the foregoing or any Prospectus Supplement thereto to comply with the Securities Act or any other law (other
than the transactions contemplated by the applicable VWAP Purchase Notice delivered by the Company to the Investor with respect to a
VWAP Purchase to be effected hereunder on such applicable VWAP Purchase Date and the settlement thereof). The Company shall have no
Knowledge of any event that could reasonably be expected to have the effect of causing the suspension of the effectiveness of the
Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement or any post-effective
amendment thereto, or the prohibition or suspension of the use of the Prospectus contained in any of the foregoing or any Prospectus
Supplement thereto in connection with the resale of the Registrable Securities by the Investor.

 

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(vi)
Other Commission Filings. The final Prospectus included in any post-effective amendment to the Initial Registration
Statement, and any Prospectus Supplement thereto, required to be filed by the Company with the Commission pursuant to Section 2.3 and
the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase Date, shall have been filed with
the Commission in accordance with Section 2.3 and the Registration Rights Agreement. The final Prospectus included in any New Registration
Statement and in any post-effective amendment thereto, and any Prospectus Supplement thereto, required to be filed by the Company with
the Commission pursuant to Section 2.3 and the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP
Purchase Date, shall have been filed with the Commission in accordance with Section 2.3 and the Registration Rights Agreement. All reports,
schedules, registrations, forms, statements, information and other documents required to have been filed by the Company with the Commission
pursuant to the reporting requirements of the Exchange Act, including all material required to have been filed pursuant to Section 13(a)
or 15(d) of the Exchange Act, after the Commencement Date and prior to the applicable VWAP Purchase Date, shall have been filed with the
Commission and, if any Registrable Securities are covered by a Registration Statement on Form S-3, such filings shall have been made within
the applicable time period prescribed for such filing under the Exchange Act.

 

(vii)
No Suspension of Trading in or Notice of Delisting of Common Stock. Trading in the Common Stock shall not have been
suspended by the Commission, the Trading Market (or Eligible Market, as applicable) or FINRA (except for any suspension of trading of
limited duration agreed to by the Company, which suspension shall be terminated prior to the applicable VWAP Purchase Date), the Company
shall not have received any final and non-appealable notice that the listing or quotation of the Common Stock on the Trading Market (or
Eligible Market, as applicable) shall be terminated on a date certain (unless, prior to such date certain, the Common Stock is listed
or quoted on any other Eligible Market), nor shall there have been imposed any suspension of, or restriction on, accepting additional
deposits of the Common Stock, electronic trading or book-entry services by DTC with respect to the Common Stock that is continuing, the
Company shall not have received any notice from DTC to the effect that a suspension of, or restriction on, accepting additional deposits
of the Common Stock, electronic trading or book-entry services by DTC with respect to the Common Stock is being imposed or is contemplated
(unless, prior to such suspension or restriction, DTC shall have notified the Company in writing that DTC has determined not to impose
any such suspension or restriction).

 

(viii)
Certain Limitations. The issuance and sale of the Shares issuable pursuant to the applicable VWAP Purchase Notice
shall not (a) exceed the applicable VWAP Purchase Maximum Amount, (b) cause the Aggregate Limit or the Beneficial Ownership Limitation
to be exceeded, or (c) cause the Exchange Cap (to the extent applicable under Section 3.3) to be exceeded, unless in the case of this
clause (c), the Company’s stockholders have theretofore approved the issuance of Common Stock under this Agreement in excess of
the Exchange Cap in accordance with the applicable rules of the Trading Market.

 

(ix) Shares
Authorized and Delivered. All of the Shares issuable pursuant to the applicable VWAP Purchase Notice shall have been duly
authorized by all necessary corporate action of the Company. All Shares relating to all prior VWAP Purchase Notices required to have
been received by the Investor as DWAC Shares under this Agreement prior to the applicable VWAP Purchase Condition Satisfaction Time
for the applicable VWAP Purchase shall have been delivered to the Investor as DWAC Shares in accordance with this Agreement.

 

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(x)
Bring-Down Opinions of Company Counsel. The Investor shall have received (a) all Bring Down Opinions from outside
counsel to the Company for which the Company was obligated to instruct its outside counsel to deliver to the Investor prior to the applicable
VWAP Purchase Condition Satisfaction Time for the applicable VWAP Purchase and (b) all Compliance Certificates from the Company that the
Company was obligated to deliver to the Investor prior to the applicable VWAP Purchase Condition Satisfaction Time for the applicable
VWAP Purchase, in each case in accordance with Section 6.15.

 

Article
VIII

TERMINATION

 

Section 8.1.
Automatic Termination. Unless earlier terminated as provided hereunder, this Agreement shall terminate automatically
on the earliest to occur of (i) the first day of the month next following the 24-month anniversary of the Commencement Date, (ii) the
date on which the Investor shall have purchased the Total Commitment worth of Shares pursuant to this Agreement, (iii) the date on which
the Common Stock shall have failed to be listed or quoted on the Trading Market or any Eligible Market, (iv) the thirtieth (30th)
Trading Day next following the date on which, pursuant to or within the meaning of any Bankruptcy Law, the Company commences a voluntary
case or any Person commences a proceeding against the Company, in each case that is not discharged or dismissed prior to such thirtieth
(30th) Trading Day, and (v) the date on which, pursuant to or within the meaning of any Bankruptcy Law, a Custodian is appointed
for the Company or for all or substantially all of its property, or the Company makes a general assignment for the benefit of its creditors.

 

Section 8.2. Other
Termination. Subject to Section 8.3, the Company may terminate this Agreement after the Commencement Date effective upon ten
(10) Trading Days’ prior written notice to the Investor in accordance with Section 10.4; provided, however, that
(i) the Company shall have issued all of the Commitment Shares required to be issued to the Investor pursuant to Section 10.1(ii) of
this Agreement and shall have paid the Document Preparation Fee required to be paid to the Investor or its counsel pursuant to
Section 10.1(i) of this Agreement, in each case prior to such termination, and (ii) prior to issuing any press release, or making
any public statement or announcement, with respect to such termination, the Company shall consult with the Investor and its counsel
on the form and substance of such press release or other disclosure. Subject to Section 8.3, this Agreement may be terminated at any
time by the mutual written consent of the parties, effective as of the date of such mutual written consent unless otherwise provided
in such written consent. Subject to Section 8.3, the Investor shall have the right to terminate this Agreement effective upon ten
(10) Trading Days’ prior written notice to the Company in accordance with Section 10.4, if: (a) any condition, occurrence,
state of facts or event constituting a Material Adverse Effect has occurred and is continuing; (b) a Fundamental Transaction shall
have occurred; (c) the Initial Registration Statement and any New Registration Statement is not filed by the applicable Filing
Deadline therefor or declared effective by the Commission by the applicable Effectiveness Deadline (as defined in the Registration
Rights Agreement) therefor, or the Company is otherwise in breach or default in any material respect under any of the other
provisions of the Registration Rights Agreement, and, if such failure, breach or default is capable of being cured, such failure,
breach or default is not cured within 10 Trading Days after notice of such failure, breach or default is delivered to the Company
pursuant to Section 10.4; (d) while a Registration Statement, or any post-effective amendment thereto, is required to be maintained
effective pursuant to the terms of the Registration Rights Agreement and the Investor holds any Registrable Securities, the
effectiveness of such Registration Statement, or any post-effective amendment thereto, lapses for any reason (including, without
limitation, the issuance of a stop order by the Commission) or such Registration Statement or any post-effective amendment thereto,
the Prospectus contained therein or any Prospectus Supplement thereto otherwise becomes unavailable to the Investor for the resale
of all of the Registrable Securities included therein in accordance with the terms of the Registration Rights Agreement, and such
lapse or unavailability continues for a period of 20 consecutive Trading Days or for more than an aggregate of 60 Trading Days in
any 365-day period, other than due to acts of the Investor; (e) trading in the Common Stock on the Trading Market (or if the Common
Stock is then listed on an Eligible Market, trading in the Common Stock on such Eligible Market) shall have been suspended and such
suspension continues for a period of three (3) consecutive Trading Days; or (f) the Company is in material breach or default of this
Agreement, and, if such breach or default is capable of being cured, such breach or default is not cured within 10 Trading Days
after notice of such breach or default is delivered to the Company pursuant to Section 10.4. Unless notification thereof is required
elsewhere in this Agreement (in which case such notification shall be provided in accordance with such other provision), the Company
shall promptly (but in no event later than 24 hours) notify the Investor (and, if required under applicable law, including, without
limitation, Regulation FD promulgated by the Commission, or under the applicable rules and regulations of the Trading Market (or
Eligible Market, as applicable), the Company shall publicly disclose such information in accordance with Regulation FD and the
applicable rules and regulations of the Trading Market (or Eligible Market, as applicable)) upon becoming aware of any of the events
set forth in the immediately preceding sentence.

 

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Section 8.3. Effect
of Termination. In the event of termination by the Company or the Investor (other than by mutual termination) pursuant to
Section 8.2, written notice thereof shall forthwith be given to the other party as provided in Section 10.4 and the transactions
contemplated by this Agreement shall be terminated without further action by either party. If this Agreement is terminated as
provided in Section 8.1 or Section 8.2, this Agreement shall become void and of no further force and effect, except that (i) the
provisions of Article V (Representations, Warranties and Covenants of the Company), Article IX (Indemnification), Article X
(Miscellaneous) and this Article VIII (Termination) shall remain in full force and effect indefinitely notwithstanding such
termination, and, (ii) so long as the Investor owns any Securities, the covenants and agreements of the Company contained in Article
VI (Additional Covenants) shall remain in full force and notwithstanding such termination for a period of six (6) months following
such termination. Notwithstanding anything in this Agreement to the contrary, no termination of this Agreement by any party shall
(i) become effective prior to the second (2nd) Trading Day immediately following the settlement date related to any
pending VWAP Purchase Notice that has not been fully settled in accordance with the terms and conditions of this Agreement (it being
hereby acknowledged and agreed that no termination of this Agreement shall limit, alter, modify, change or otherwise affect any of
the Company’s or the Investor’s rights or obligations under the Transaction Documents with respect to any pending VWAP
Purchase, and that the parties shall fully perform their respective obligations with respect to any such pending VWAP Purchase under
the Transaction Documents), (ii) limit, alter, modify, change or otherwise affect the Company’s or the Investor’s rights
or obligations under the Registration Rights Agreement, all of which shall survive any such termination, (iii) affect any Commitment
Shares issued or issuable to the Investor pursuant to Section 10.1(ii), all of which Commitment Shares shall be fully earned as of
the Closing Date, regardless of whether the Commencement shall have occurred, whether any VWAP Purchases are made or settled
hereunder or any subsequent termination of this Agreement, or (iv) affect the Document Preparation Fee payable or paid to the
Investor (or its counsel), all of which Document Preparation Fee shall be non-refundable when paid on the Closing Date pursuant to
Section 10.1(i), regardless of whether the Commencement shall have occurred, whether any VWAP Purchases are made or settled
hereunder or any subsequent termination of this Agreement. Nothing in this Section 8.3 shall be deemed to release the Company or the
Investor from any liability for any breach or default under this Agreement or any of the other Transaction Documents to which it is
a party, or to impair the rights of the Company and the Investor to compel specific performance by the other party of its
obligations under the Transaction Documents to which it is a party.

 

Article
IX

INDEMNIFICATION

 

Section 9.1. Indemnification
of Investor. In consideration of the Investor’s execution and delivery of this Agreement and acquiring the Securities
hereunder and in addition to all of the Company’s other obligations under the Transaction Documents to which it is a party,
subject to the provisions of this Section 9.1, the Company shall indemnify and hold harmless the Investor, each of its directors,
officers, stockholders, members, partners, employees, representatives, agents and advisors (and any other Persons with a
functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title), each
Person, if any, who controls the Investor (within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange
Act), and the respective directors, officers, stockholders, members, partners, employees, representatives, agents and advisors (and
any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any
other title) of such controlling Persons (each, an “Investor Party”), from and against all losses,
liabilities, obligations, claims, contingencies, damages, costs and expenses (including all judgments, amounts paid in settlement,
court costs, reasonable attorneys’ fees and costs of defense and investigation) (collectively,
“Damages”) that any Investor Party may suffer or incur as a result of or relating to (a) any breach of any
of the representations, warranties, covenants or agreements made by the Company in this Agreement, the Registration Rights Agreement
or in the other Transaction Documents to which it is a party or (b) any action, suit, claim or proceeding (including for these
purposes a derivative action brought on behalf of the Company) instituted against such Investor Party arising out of or resulting
from the execution, delivery, performance or enforcement of the Transaction Documents, other than claims for indemnification within
the scope of Section 6 of the Registration Rights Agreement; provided, however, that (x) the foregoing indemnity shall
not apply to any Damages to the extent, but only to the extent, that such Damages resulted directly and primarily from a breach of
any of the Investor’s representations, warranties, covenants or agreements contained in this Agreement or the Registration
Rights Agreement, and (y) the Company shall not be liable under subsection (b) of this Section 9.1 to the extent, but only to the
extent, that a court of competent jurisdiction shall have determined by a final judgment (from which no further appeals are
available) that such Damages resulted directly and primarily from any acts or failures to act, undertaken or omitted to be taken by
such Investor Party through its fraud, bad faith, gross negligence, or willful or reckless misconduct.

 

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The Company shall reimburse
any Investor Party promptly upon demand (with accompanying presentation of sufficiently detailed documentary evidence) for all legal and
other costs and expenses reasonably incurred by such Investor Party in connection with (i) any action, suit, claim or proceeding, whether
at law or in equity, to enforce compliance by the Company with any provision of the Transaction Documents or (ii) any other any action,
suit, claim or proceeding, whether at law or in equity, with respect to which it is entitled to indemnification under this Section 9.1;
provided that the Investor shall promptly reimburse the Company for all such legal and other costs and expenses to the extent a
court of competent jurisdiction determines that any Investor Party was not entitled to such reimbursement.

 

An Investor Party’s
right to indemnification or other remedies based upon the representations, warranties, covenants and agreements of the Company set forth
in the Transaction Documents shall not in any way be affected by any investigation or knowledge of such Investor Party. Such representations,
warranties, covenants and agreements shall not be affected or deemed waived by reason of the fact that an Investor Party knew or should
have known that any representation or warranty might be inaccurate or that the Company failed to comply with any agreement or covenant.
Any investigation by such Investor Party shall be for its own protection only and shall not affect or impair any right or remedy hereunder.

 

To the extent that the foregoing
undertakings by the Company set forth in this Section 9.1 may be unenforceable for any reason, the Company shall make the maximum contribution
to the payment and satisfaction of each of the Damages which is permissible under applicable law.

 

Section 9.2. Indemnification
Procedures. Promptly after an Investor Party receives notice of a claim or the commencement of an action for which the
Investor Party intends to seek indemnification under Section 9.1, the Investor Party will notify the Company in writing of the claim
or commencement of the action, suit or proceeding; provided, however, that failure to notify the Company will not
relieve the Company from liability under Section 9.1, except to the extent it has been materially prejudiced by the failure to give
notice. The Company will be entitled to participate in the defense of any claim, action, suit or proceeding as to which
indemnification is being sought, and if the Company acknowledges in writing the obligation to indemnify the Investor Party against
whom the claim or action is brought, the Company may (but will not be required to) assume the defense against the claim, action,
suit or proceeding with counsel satisfactory to it. After the Company notifies the Investor Party that the Company wishes to assume
the defense of a claim, action, suit or proceeding, the Company will not be liable for any further legal or other expenses incurred
by the Investor Party in connection with the defense against the claim, action, suit or proceeding except that if, in the opinion of
counsel to the Investor Party, it would be inappropriate under the applicable rules of professional responsibility for the same
counsel to represent both the Company and such Investor Party. In such event, the Company will pay the reasonable fees and expenses
of no more than one separate counsel for all such Investor Parties promptly as such fees and expenses are incurred. Each Investor
Party, as a condition to receiving indemnification as provided in Section 9.1, will cooperate in all reasonable respects with the
Company in the defense of any action or claim as to which indemnification is sought. The Company will not be liable for any
settlement of any action effected without its prior written consent, which consent shall not be unreasonably withheld, delayed or
conditioned. The Company will not, without the prior written consent of the Investor Party, effect any settlement of a pending or
threatened action with respect to which an Investor Party is, or is informed that it may be, made a party and for which it would be
entitled to indemnification, unless the settlement includes an unconditional release of the Investor Party from all liability and
claims which are the subject matter of the pending or threatened action.

 

The remedies provided for
in this Article IX are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Investor Party
at law or in equity.

 

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Article
X

MISCELLANEOUS

 

Section 10.1.
Certain Fees and Expenses; Commitment Shares; Commencement Irrevocable Transfer Agent Instructions.

 

(i)
Certain Fees and Expenses. Each party shall bear its own fees and expenses related to the transactions contemplated
by this Agreement; provided, however, that the Company shall pay, on or prior to the Closing Date, by wire transfer of immediately
available funds to an account designated by the Investor (or to an account designated by the Investor’s counsel) on or prior to
the date of this Agreement, a non-accountable and non-refundable document preparation fee of up to $50,000, exclusive of disbursements
and out-of-pocket expenses (the “Document Preparation Fee”), in connection with the preparation, negotiation,
execution and delivery of the Transaction Documents and legal due diligence of the Company. For the avoidance of doubt, the Document Preparation
Fee shall be non-refundable when paid on or prior to the Closing Date, regardless of whether the Commencement shall have occurred, any
VWAP Purchases are made or settled hereunder or any subsequent termination of this Agreement. The Company shall pay all U.S. federal,
state and local stamp and other similar transfer and other taxes and duties levied in connection with issuance of the Securities pursuant
hereto.

 

(ii) Commitment
Shares. In consideration for the Investor’s execution and delivery of this Agreement, concurrently with the execution
and delivery of this Agreement on the Closing Date, the Company shall deliver irrevocable instructions to its transfer agent to
issue to the Investor, not later than 4:00 p.m. (New York City time) on the Trading Day immediately following the Closing Date, one
or more certificate(s) or book-entry statement(s) representing the Commitment Shares in the name of the Investor or its designee (in
which case such designee name shall have been provided to the Company prior to the Closing Date). Such certificate or book-entry
statement shall be delivered to the Investor by overnight courier at its address set forth in Section 10.4. For the avoidance of
doubt, all of the Commitment Shares shall be fully earned as of the Closing Date regardless of whether the Commencement shall have
occurred, whether any VWAP Purchases are effected by the Company or settled hereunder or any subsequent termination of this
Agreement. Upon issuance pursuant to this Section 10.1(ii), the Commitment Shares shall constitute “restricted
securities” as such term is defined in Rule 144(a)(3) under the Securities Act and, subject to the provisions of subsection
(iv) of this Section 10.1, the certificate or book-entry statement representing the Commitment Shares shall bear the restrictive
legend set forth below in subsection (iii) of this Section 10.1. The Commitment Shares shall constitute Registrable Securities and
shall be included in the Initial Registration Statement and any post-effective amendment thereto, and the Prospectus included
therein, and, if necessary to register the resale thereof by the Investor under the Securities Act, in any New Registration
Statement and any post-effective amendment thereto, and the Prospectus included therein, in each case in accordance with this
Agreement and the Registration Rights Agreement.

 

(iii)
Legends. The certificate(s) or book-entry statement(s) representing the Commitment Shares issued prior to the Effective
Date of the Initial Registration Statement, except as set forth below, shall bear a restrictive legend in substantially the following
form (and stop transfer instructions may be placed against transfer of the Commitment Shares):

 

THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES HAVE BEEN ACQUIRED
FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR
THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, UNLESS SOLD PURSUANT TO: (1) RULE 144
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (2) AN OPINION OF COUNSEL, IN A CUSTOMARY FORM, THAT REGISTRATION IS NOT REQUIRED UNDER
SAID ACT OR APPLICABLE STATE SECURITIES LAWS.

 

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Notwithstanding the foregoing
and for the avoidance of doubt, all Shares to be issued in respect of any VWAP Purchase Notice delivered to the Investor pursuant to this
Agreement shall be issued to the Investor in accordance with Section 3.2 by crediting the Investor’s or its designees’ account
at DTC as DWAC Shares, and the Company shall not take any action or give instructions to any transfer agent of the Company otherwise.

 

(iv) Irrevocable
Transfer Agent Instructions; Notice of Effectiveness. On the earlier of (a) the Commencement Date and (b) such time that the
Investor shall request, provided all conditions of Rule 144 are met, the Company shall, no later than one (1) Trading Day following
the delivery by the Investor to the Company or its transfer agent of one or more legended certificates or book-entry statements
representing the Commitment Shares issued to the Investor pursuant to Section 10.1(ii) (which certificates or book-entry statements
the Investor shall promptly deliver on or prior to the first to occur of the events described in clauses (a) and (b) of this
sentence), cause the Company’s transfer agent to credit the Investor’s or its designee’s account at DTC as DWAC
Shares such number of shares of Common Stock equal to the number of Commitment Shares issued to the Investor pursuant to Section
10.1(ii). The Company shall take all actions to carry out the intent and accomplish the purposes of the immediately preceding
sentence, including, without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions to
its transfer agent, and any successor transfer agent of the Company, as may be requested from time to time by the Investor or
necessary or desirable to carry out the intent and accomplish the purposes of the immediately preceding sentence. On the Effective
Date of the Initial Registration Statement and prior to Commencement, the Company shall deliver or cause to be delivered to its
transfer agent (and thereafter, shall deliver or cause to be delivered to any subsequent transfer agent of the Company), (i)
irrevocable instructions executed by the Company and acknowledged in writing by the Company’s transfer agent (the
“Commencement Irrevocable Transfer Agent Instructions”) and (ii) the notice of effectiveness in the form
attached as an exhibit to the Registration Rights Agreement (the “Notice of Effectiveness”) relating to
the Initial Registration Statement executed by the Company’s outside counsel, in each case directing the Company’s
transfer agent to issue to the Investor or its designee all of the Commitment Shares and the Shares included in the Initial
Registration Statement as DWAC Shares in accordance with this Agreement and the Registration Rights Agreement. With respect to any
post-effective amendment to the Initial Registration Statement, any New Registration Statement or any post-effective amendment to
any New Registration Statement, in each case declared effective by the Commission after the Commencement Date, the Company shall
deliver or cause to be delivered to its transfer agent (and thereafter, shall deliver or cause to be delivered to any subsequent
transfer agent of the Company) (i) irrevocable instructions in the form substantially similar to the Commencement Irrevocable
Transfer Agent Instructions executed by the Company and acknowledged in writing by the Company’s transfer agent and (ii) the
Notice of Effectiveness, in each case modified as necessary to refer to such Registration Statement or post-effective amendment and
the Registrable Securities included therein, to issue the Registrable Securities included therein as DWAC Shares in accordance with
the terms of this Agreement and the Registration Rights Agreement. For the avoidance of doubt, all Shares and Commitment Shares to
be issued and delivered from and after Commencement to or for the benefit of the Investor pursuant to this Agreement shall be issued
and delivered to the Investor or its designee only as DWAC Shares. The Company represents and warrants to the Investor that, while
this Agreement is effective, no instruction other than those referred to in this Section 10.1(iv) will be given by the Company to
its transfer agent, or any successor transfer agent of the Company, with respect to the Shares and the Commitment Shares from and
after Commencement, and the Shares and the Commitment Shares covered by the Initial Registration Statement or any post-effective
amendment thereof, or any New Registration Statement or post-effective amendment thereof, as applicable, shall otherwise be freely
transferable on the books and records of the Company and no stop transfer instructions shall be maintained against the transfer
thereof. The Company agrees that if the Company fails to fully comply with the provisions of this Section 10.1(iv) within three (3)
Trading Days after the date on which the Investor has provided the deliverables referred to above that the Investor is required to
provide to the Company or its transfer agent, the Company shall, at the Investor’s written instruction, purchase from the
Investor all shares of Common Stock acquired by the Investor pursuant to this Agreement that contain the restrictive legend referred
to in Section 10.1(iii) hereof (or any similar restrictive legend), or that have any stop transfer orders maintained that prohibit
or impede the transfer thereof in any respect, at the greater of (i) the purchase price paid for such shares of Common Stock (as
applicable) and (ii) the Closing Sale Price of the Common Stock on the date of the Investor’s written instruction.

 

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Section 10.2. 
Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial.

 

(i)  The
Company and the Investor acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that
either party shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by
the other party and to enforce specifically the terms and provisions hereof (without the necessity of showing economic loss and
without any bond or other security being required), this being in addition to any other remedy to which either party may be entitled
by law or equity.

 

(ii) 
Each of the Company and the Investor (a) hereby irrevocably submits to the jurisdiction of the U.S. District Court and other courts
of the United States sitting in the State of New York for the purposes of any suit, action or proceeding arising out of or relating to
this Agreement, and (b) hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of
the suit, action or proceeding is improper. Each of the Company and the Investor consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing in this Section 10.2 shall affect or
limit any right to serve process in any other manner permitted by law.

 

(iii) 
EACH OF THE COMPANY AND THE INVESTOR HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR DISPUTES RELATING HERETO. EACH OF THE COMPANY AND THE INVESTOR (A) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.2.

 

Section 10.3. 
Entire Agreement. The Transaction Documents set forth the entire agreement and understanding of the parties with respect
to the subject matter hereof and supersedes all prior and contemporaneous agreements, negotiations and understandings between the parties,
both oral and written, with respect to such matters. There are no promises, undertakings, representations or warranties by either party
relative to subject matter hereof not expressly set forth in the Transaction Documents. The Disclosure Schedule and all exhibits to this
Agreement are hereby incorporated by reference in, and made a part of, this Agreement as if set forth in full herein.

 

Section 10.4. 
Notices. Any notice, demand, request, waiver or other communication required or permitted to be given hereunder shall
be in writing and shall be effective (a) upon hand delivery or electronic mail delivery at the address or number designated below (if
delivered on a business day during normal business hours where such notice is to be received), or the first business day following such
delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second
business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt
of such mailing, whichever shall first occur. The address for such communications shall be:

 

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If to the Company:

 

Cinedigm Corp.

237 West 35th Street, Suite 605

New York, NY 10001

Telephone Number: (212) 206-8600

Email: gloffredo@cinedigm.com

Attention: Gary Loffredo, Esq.

 

With a copy (which shall not
constitute notice) to:

 

Kelley Drye & Warren LLP

Three World Trade Center

175 Greenwich Street

New York, NY 10007

Telephone Number: (212) 808-5038

Email: csherman@kelleydrye.com

Attention: Carol Weiss Sherman, Esq.

 

If to the Investor:

 

B. Riley Principal Capital, LLC

11100 Santa Monica Blvd., Suite 800

Los Angeles, CA 90025

Telephone Number: (310) 966-1444

Email: legal@brileyfin.com

Attention: General Counsel

 

With a copy (which shall not
constitute notice) to:

 

Dorsey & Whitney
LLP

51 West 52nd
Street

New York, NY 10019

Telephone Number:
(212) 415-9214

Email: marsico.anthony@dorsey.com

Attention: Anthony J. Marsico, Esq.

 

Either party hereto may from time to time change
its address for notices by giving at least five (5) days’ advance written notice of such changed address to the other party hereto.

 

Section 10.5. 
Waivers. No provision of this Agreement may be waived by the parties from and after the date that is one (1) Trading
Day immediately preceding the date on which the Initial Registration Statement is initially filed with the Commission. Subject to the
immediately preceding sentence, no provision of this Agreement may be waived other than in a written instrument signed by the party against
whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercises
thereof or of any other right, power or privilege.

 

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Section 10.6. 
Amendments. No provision of this Agreement may be amended by the parties from and after the date that is one (1) Trading
Day immediately preceding the date on which the Initial Registration Statement is initially filed with the Commission. Subject to the
immediately preceding sentence, no provision of this Agreement may be amended other than by a written instrument signed by both parties
hereto.

 

Section 10.7. 
Headings. The article, section and subsection headings in this Agreement are for convenience only and shall not constitute
a part of this Agreement for any other purpose and shall not be deemed to limit or affect any of the provisions hereof. Unless the context
clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms
thereof. The terms “including,” “includes,” “include” and words of like import shall be construed
broadly as if followed by the words “without limitation.” The terms “herein,” “hereunder,” “hereof”
and words of like import refer to this entire Agreement instead of just the provision in which they are found.

 

Section 10.8. 
Construction. The parties agree that each of them and their respective counsel has reviewed and had an opportunity to
revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved
against the drafting party shall not be employed in the interpretation of the Transaction Documents. In addition, each and every reference
to share prices (including the Threshold Price) and number of shares of Common Stock in any Transaction Document shall, in all cases,
be subject to adjustment for any stock splits, stock combinations, stock dividends, recapitalizations, reorganizations and other similar
transactions that occur on or after the date of this Agreement. Any reference in this Agreement to “Dollars” or “$”
shall mean the lawful currency of the United States of America. Any references to “Section” or “Article” in this
Agreement shall, unless otherwise expressly stated herein, refer to the applicable Section or Article of this Agreement.

 

Section 10.9. 
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors. Neither the Company nor the Investor may assign this Agreement or any of their respective rights or obligations hereunder
to any Person.

 

Section 10.10. No Third
Party Beneficiaries. Except as expressly provided in Article IX, this Agreement is intended only for the benefit of the parties
hereto and their respective successors, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

Section 10.11. Governing
Law. This Agreement shall be governed by and construed in accordance with the internal procedural and substantive laws of the
State of New York, without giving effect to any laws or rules of such state that would cause the application of the laws of any other
jurisdiction.

 

Section 10.12. Survival.
The representations, warranties, covenants and agreements of the Company and the Investor contained in this Agreement shall survive
the execution and delivery hereof until the termination of this Agreement; provided, however, that (i) the provisions
of Article V (Representations, Warranties and Covenants of the Company), Article VIII (Termination), Article IX (Indemnification)
and this Article X (Miscellaneous) shall remain in full force and effect indefinitely notwithstanding such termination, and, (ii) so
long as the Investor owns any Securities, the covenants and agreements of the Company and the Investor contained in Article VI
(Additional Covenants), shall remain in full force and effect notwithstanding such termination for a period of six months following
such termination.

 

    41

     

    

 

Section 10.13. Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party; provided that a facsimile
signature or signature delivered by e-mail in a “.pdf” format data file, including any electronic signature complying with
the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc., shall be considered due execution and shall
be binding upon the signatory thereto with the same force and effect as if the signature were an original signature.

 

Section 10.14. Publicity.
The Company shall afford the Investor and its counsel with a reasonable opportunity to review and comment upon, shall consult with the
Investor and its counsel on the form and substance of, and shall give due consideration to all such comments from the Investor or its
counsel on, any press release, Commission filing or any other public disclosure made by or on behalf of the Company relating to the Investor,
its purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated thereby, prior to the issuance, filing
or public disclosure thereof. For the avoidance of doubt, the Company shall not be required to submit for review any such disclosure (i)
contained in periodic reports filed with the Commission under the Exchange Act if it shall have previously provided the same disclosure
to the Investor or its counsel for review in connection with a previous filing or (ii) any Prospectus Supplement if it contains disclosure
that does not reference the Investor, its purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated
thereby. The Company agrees and acknowledges that its failure to comply with this provision in all material respects constitutes a Material
Adverse Effect for purposes of Section 7.2(xi).

 

Section 10.15. Severability.
The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction shall determine that any one
or more of the provisions or part of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision
of this Agreement, and this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part
of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable to the maximum extent
possible.

 

Section 10.16. Further
Assurances. From and after the Closing Date, upon the request of the Investor or the Company, each of the Company and the Investor
shall execute and deliver such instrument, documents and other writings as may be reasonably necessary or desirable to confirm and carry
out and to effectuate fully the intent and purposes of this Agreement.

 

[Signature Pages Follow]

 

    42

     

    

 

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

 

	 	CINEDIGM CORP.:
	 	 
	 	By:	/s/ Gary S. Loffredo

	 	Name: 	Gary Loffredo

	 	Title:	President, Chief Operating Officer, 

General Counsel and Secretary
	 	 	 
	 	B. RILEY PRINCIPAL CAPITAL, LLC:
	 	 
	 	By:	/s/ Daniel Shribman
	 	Name:	Daniel Shribman
	 	Title:	President

 

    

     

    

 

ANNEX I TO THE

COMMON STOCK PURCHASE AGREEMENT

DEFINITIONS

 

“Accountant”
shall have the meaning assigned to such term in Section 5.6(d).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control
with a Person, as such terms are used in and construed under Rule 144.

 

“Aggregate Limit”
shall have the meaning assigned to such term in Section 2.1.

 

“Agreement”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

“Average Price”
means a price per Share (rounded to the nearest tenth of a cent) equal to the quotient obtained by dividing (i) the aggregate gross purchase
price paid by the Investor for all Shares purchased pursuant to this Agreement, by (ii) the aggregate number of Shares issued pursuant
to this Agreement.

 

“Bankruptcy Law”
means Title 11, U.S. Code, or any similar U.S. federal or state law for the relief of debtors.

 

“Base Price”
means a price per Share equal to the sum of (i) the Minimum Price and (ii) $0.0149 (subject to adjustment for any reorganization, recapitalization,
non-cash dividend, stock split, reverse stock split or other similar transaction that occurs on or after the date of this Agreement).

 

“Beneficial Ownership
Limitation” shall have the meaning assigned to such term in Section 3.4.

 

“Bloomberg”
means Bloomberg, L.P.

 

“Bring Down Opinion”
shall have the meaning assigned to such term in Section 6.15.

 

“Broker-Dealer”
shall have the meaning assigned to such term in Section 6.13.

 

“Bylaws”
shall have the meaning assigned to such term in Section 5.3.

 

“Charter”
shall have the meaning assigned to such term in Section 5.3.

 

“Closing”
shall have the meaning assigned to such term in Section 2.2.

 

“Closing Date”
means the date of this Agreement.

 

“Closing Sale
Price” means, for the Common Stock as of any date, the last closing trade price for the Common Stock on the Trading Market,
as reported by Bloomberg, or, if the Trading Market begins to operate on an extended hours basis and does not designate the closing trade
price for the Common Stock, then the last trade price for the Common Stock prior to 4:00 p.m., New

 

    I-1

     

    

 

York City time, as reported by Bloomberg. All
such determinations shall be appropriately adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other
similar transactions during such period.

 

“Code”
shall have the meaning assigned to such term in Section 5.24.

 

“Commencement”
shall have the meaning assigned to such term in Section 3.1.

 

“Commencement
Date” shall have the meaning assigned to such term in Section 3.1.

 

“Commencement
Irrevocable Transfer Agent Instructions” shall have the meaning assigned to such term in Section 10.1(iv).

 

“Commission”
means the U.S. Securities and Exchange Commission or any successor entity.

 

“Commission Documents”
shall mean (1) all reports, schedules, registrations, forms, statements, information and other documents filed with or furnished to the
Commission by the Company pursuant to the reporting requirements of the Exchange Act, including all material filed with or furnished to
the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, since March 31, 2021, including, without limitation,
the Annual Report on Form 10-K filed by the Company for its fiscal year ended March 31, 2021 (the “2021 Form 10-K”),
and which hereafter shall be filed with or furnished to the Commission by the Company, including, without limitation, the Current Report,
(2) each Registration Statement, as the same may be amended from time to time, the Prospectus contained therein and each Prospectus Supplement
thereto and (3) all information contained in such filings and all documents and disclosures that have been and heretofore shall be incorporated
by reference therein.

 

“Commitment Shares”
means 210,084 shares of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock which, concurrently with
the execution and delivery of this Agreement on the Closing Date, the Company has caused its transfer agent to issue and deliver to the
Investor not later than 4:00 p.m. (New York City time) on the Trading Day immediately following the Closing Date.

 

“Common Stock”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Common Stock
Equivalents” means any securities of the Company or its Subsidiaries which entitle the holder thereof to acquire at any
time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at
any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Company”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

“Compliance Certificate”
shall have the meaning assigned to such term in Section 7.2(ii).

 

    I-2

     

    

 

“Current Report”
shall have the meaning assigned to such term in Section 2.3.

 

“Cover Price”
shall have the meaning assigned to such term in Section 3.2.

 

“Custodian”
shall mean any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

“Damages”
shall have the meaning assigned to such term in Section 9.1.

 

“Disclosure Schedule”
shall have the meaning assigned to such term in the preamble to Article V.

 

“Disqualification
Event” shall have the meaning assigned to such term in Section 5.40.

 

“Document Preparation
Fee” shall have the meaning assigned to such term in Section 10.1(i).

 

“DTC”
means The Depository Trust Company, a subsidiary of The Depository Trust & Clearing Corporation, or any successor thereto.

 

“DWAC”
shall have the meaning assigned to such term in Section 5.33.

 

“DWAC Shares”
means shares of Common Stock issued pursuant to this Agreement that are (i) issued in electronic form, (ii) freely tradable and transferable
and without restriction on resale and without stop transfer instructions maintained against the transfer thereof and (iii) timely credited
by the Company to the Investor’s (or its designee’s) specified DWAC account with DTC under its Fast Automated Securities Transfer
(FAST) Program, or any similar program hereafter adopted by DTC performing substantially the same function.

 

“EDGAR”
means the Commission’s Electronic Data Gathering, Analysis and Retrieval System.

 

“Effective Date”
means, with respect to the Initial Registration Statement filed pursuant to Section 2(a) of the Registration Rights Agreement (or any
post-effective amendment thereto) or any New Registration Statement filed pursuant to Section 2(c) of the Registration Rights Agreement
(or any post-effective amendment thereto), as applicable, the date on which the Initial Registration Statement (or any post-effective
amendment thereto) or any New Registration Statement (or any post-effective amendment thereto) is declared effective by the Commission.

 

“Effectiveness
Deadline” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Eligible Market”
means The Nasdaq Capital Market, The Nasdaq Global Select Market, the New York Stock Exchange or the NYSE American (or any nationally
recognized successor to any of the foregoing).

 

“Environmental
Laws” shall have the meaning assigned to such term in Section 5.18 hereof.

 

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“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended.

 

“Evaluation Date”
shall have the meaning assigned to such term in Section 5.6(c).

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder.

 

“Exchange Cap”
shall have the meaning assigned to such term in Section 3.3(a)(i) hereof.

 

“Exempt Issuance”
means the issuance of (a) Common Stock, options or other equity incentive awards to employees, officers, directors or vendors of the Company
pursuant to any equity incentive plan duly adopted for such purpose, by the Company’s Board of Directors or a majority of the members
of a committee of the Board of Directors established for such purpose, (b) (1) any Shares issued to the Investor pursuant to this Agreement,
(2) any securities issued upon the exercise or exchange of or conversion of any shares of Common Stock or Common Stock Equivalents held
by the Investor at any time, or (3) any securities issued upon the exercise or exchange of or conversion of any Common Stock Equivalents
issued and outstanding on the date of this Agreement, or in payment of dividends on the Company’s Series A Preferred Stock issued
and outstanding on the date of this Agreement, provided that such securities referred to in this clause (3) have not been amended since
the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price
of such securities, (c) securities issued pursuant to acquisitions, divestitures, licenses, partnerships, collaborations or strategic
transactions approved by the Company’s Board of Directors or a majority of the members of a committee of directors established for
such purpose, which acquisitions, divestitures, licenses, partnerships, collaborations or strategic transactions can have a Variable Rate
Transaction component, provided that any such issuance shall only be to a Person (or to the equity holders of a Person) which is, itself
or through its subsidiaries, an operating company or an asset in a business synergistic with the business of the Company and shall provide
to the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is
issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities, (d)
Common Stock issued by the Company to the Investor or an Affiliate of the Investor in connection with any “equity line of credit”
or other continuous offering or similar offering of Common Stock pursuant to a written agreement between the Company and the Investor
or an Affiliate of the Investor, whereby the Company may sell Common Stock to the Investor or an Affiliate of the Investor at a future
determined price, or (e) Common Stock issued by the Company by any method deemed to be an “at the market offering” as defined
in Rule 415(a)(4) under the Securities Act, exclusively to or through B. Riley Securities, Inc., pursuant to one or more written agreements
between the Company and B. Riley Securities, Inc.

 

“FCPA”
shall have the meaning assigned to such term in Section 5.35.

 

“Filing Deadline”
shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“FINRA”
means the Financial Industry Regulatory Authority.

 

“Fundamental
Transaction” means that (i) the Company shall, directly or indirectly, in one or more related transactions, (1)
consolidate or merge with or into (whether or not the Company is the surviving corporation) another Person, with the result that the
holders of the Company’s capital stock immediately prior to such consolidation or merger together beneficially own less than
50% of the outstanding voting power of the surviving or resulting corporation, or (2) sell, lease, license, assign, transfer, convey
or otherwise dispose of all or substantially all of the properties or assets of the Company to another Person, or (3) take action to
facilitate a purchase, tender or exchange offer by another Person that is accepted by the holders of more than 50% of the
outstanding shares of Common Stock (excluding any shares of Common Stock held by the Person or Persons making or party to, or
associated or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (4) consummate a stock or
share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off
or scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of Common
Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or
affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination), or (5)
reorganize, recapitalize or reclassify its Common Stock, or (ii) any “person” or “group” (as these terms are
used for purposes of Sections 13(d) and 14(d) of the Exchange Act) is or shall become the “beneficial owner” (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued
and outstanding Common Stock.

 

    I-4

     

    

 

“GAAP”
shall have the meaning assigned to such term in Section 5.6(b).

 

“Indebtedness”
shall have the meaning assigned to such term in Section 5.11.

 

“Initial Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Intellectual
Property” shall have the meaning assigned to such term in Section 5.17(b).

 

“Investment Period”
means the period commencing on the Commencement Date and expiring on the date this Agreement is subsequently terminated pursuant to Article
VIII.

 

“Investor”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

“Investor Party”
shall have the meaning assigned to such term in Section 9.1.

 

“Issuer Covered
Person” shall have the meaning assigned to such term in Section 5.40.

 

“IT Systems and
Data” shall have the meaning assigned to such term in Section 5.39.

 

“Knowledge”
means the actual knowledge of any of the Company’s Chief Executive Officer, the Company’s Chief Financial Officer or the Company’s
Chief Operating Officer, after reasonable inquiry of all officers, directors and employees of the Company and its Subsidiaries under such
Person’s direct supervision who would reasonably be expected to have knowledge or information with respect to the matter in question.

 

“Material
Adverse Effect” means (i) any condition, occurrence, state of facts or event having, or insofar as reasonably can be
foreseen would likely have, any material adverse effect on the legality, validity or enforceability of any of the Transaction
Documents or the transactions contemplated thereby, (ii) any condition, occurrence, state of facts or event having, or insofar as
reasonably can be foreseen would likely have, any effect on the business, operations, properties or financial condition of the
Company that is material and adverse to the Company and its Subsidiaries, taken as a whole, and/or (iii) any condition, occurrence,
state of facts or event that would, or insofar as reasonably can be foreseen would likely, prohibit or otherwise materially
interfere with or delay the ability of the Company to perform any of its obligations under any of the Transaction Documents to which
it is a party; provided, however, that no facts, circumstances, changes or effects exclusively and directly resulting
from, relating to or arising out of the following, individually or in the aggregate, shall be taken into account in determining
whether a Material Adverse Effect has occurred or insofar as reasonably can be foreseen would likely occur: (a) changes in
conditions in the U.S. or global capital, credit or financial markets generally, including changes in the availability of capital or
currency exchange rates, provided such changes shall not have affected the Company in a materially disproportionate manner as
compared to other similarly situated companies; (b) changes generally affecting the industries in which the Company and its
Subsidiaries operate, provided such changes shall not have affected the Company and its Subsidiaries, taken as a whole, in a
materially disproportionate manner as compared to other similarly situated companies; (c) any effect of the announcement of, or
the consummation of the transactions contemplated by, this Agreement and the Registration Rights Agreement on the Company’s
relationships, contractual or otherwise, with customers, suppliers, vendors, bank lenders, strategic venture partners or employees;
(d) changes arising in connection with earthquakes, hostilities, acts of war, sabotage or terrorism or military actions or any
escalation or material worsening of any such hostilities, acts of war, sabotage or terrorism or military actions existing as of the
date hereof; (e) any action taken by the Investor, its Affiliates or its or their successors and assigns with respect to the
transactions contemplated by this Agreement; and (f) the effect of any changes in applicable laws or accounting rules, provided such
changes shall not have affected the Company in a materially disproportionate manner as compared to other similarly situated
companies.

 

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“Material Subsidiaries”
means each of Cinedigm Entertainment Holdings, LLC, Cinedigm DC Holdings, LLC, Access Digital Cinema Phase 2, Corp. and Cinedigm OTT Holdings,
LLC.

 

“Minimum Price”
means $2.38, representing the Nasdaq official closing price of the Common Stock on the Trading Market (as reflected on Nasdaq.com) on
the Trading Day immediately preceding the date of this Agreement (subject to adjustment for any reorganization, recapitalization, non-cash
dividend, stock split, reverse stock split or other similar transaction that occurs on or after the date of this Agreement).

 

“Money Laundering
Laws” shall have the meaning assigned to such term in Section 5.36.

 

“New Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Notice of Effectiveness”
shall have the meaning assigned to such term in Section 10.1(iv).

 

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“PEA Period”
means the period commencing at 9:30 a.m., New York City time, on the fifth (5th) Trading Day immediately prior to the filing
of any post-effective amendment to the Initial Registration Statement or any New Registration Statement, and ending at 9:30 a.m., New
York City time, on the Trading Day immediately following, the Effective Date of such post-effective amendment.

 

“Permits”
shall have the meaning assigned to such term in Section 5.17(a).

 

“Person”
means any person or entity, whether a natural person, trustee, corporation, partnership, limited partnership, limited liability company,
trust, unincorporated organization, business association, firm, joint venture, governmental agency or authority.

 

“Plan”
shall have the meaning assigned to such term in Section 5.24.

 

“Prospectus”
shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Prospectus Supplement”
shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Registrable Securities”
shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Registration
Rights Agreement” shall have the meaning assigned to such term in the recitals hereof.

 

“Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Regulation D”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Restricted Period”
shall have the meaning assigned to such term in Section 6.9(i).

 

“Restricted Person”
shall have the meaning assigned to such term in Section 6.9(i).

 

“Restricted Persons”
shall have the meaning assigned to such term in Section 6.9(i).

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar
rule or regulation hereafter adopted by the Commission having substantially the same effect.

 

“Sanctions”
shall have the meaning assigned to such term in Section 5.37.

 

“Sarbanes-Oxley
Act” shall have the meaning assigned to such term in Section 5.6(d).

 

“Section 4(a)(2)”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

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“Securities”
means, collectively, the Shares and the Commitment Shares.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder.

 

“Shares”
shall mean the shares of Common Stock that are and/or may be purchased by the Investor under this Agreement pursuant to one or more VWAP
Purchase Notices, but not including the Commitment Shares.

 

“Short Sales”
shall mean “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act.

 

“Subsidiary”
shall mean any corporation or other entity of which at least a majority of the securities or other ownership interest having ordinary
voting power for the election of directors or other persons performing similar functions are at the time owned directly or indirectly
by the Company and/or any of its other Subsidiaries.

 

“Threshold Price”
means $0.50, which shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar
transaction and, effective upon the consummation of any such reorganization, recapitalization, non-cash dividend, stock split or other
similar transaction, the “Threshold Price” shall mean the lower of (i) such adjusted price and (ii) $0.50.

 

“Total Commitment”
shall have the meaning assigned to such term in Section 2.1.

 

“Trading Day”
shall mean any day on which the Trading Market or, if the Common Stock is then listed on an Eligible Market, such Eligible Market is open
for “regular” trading, including any day on which the Trading Market (or such Eligible Market, as applicable) is open for
“regular” trading for a period of time less than the customary “regular” trading period.

 

“Trading Market”
means The Nasdaq Global Market (or any nationally recognized successor thereto).

 

“Transaction Documents”
means, collectively, this Agreement (as qualified by the Disclosure Schedule) and the exhibits hereto, the Registration Rights Agreement,
and the exhibits thereto, and each of the other agreements, documents, certificates and instruments entered into or furnished by the parties
hereto in connection with the transactions contemplated hereby and thereby.

 

“Variable
Rate Transaction” means a transaction in which the Company (i) issues or sells any equity or debt securities that are
convertible into, exchangeable or exercisable for, or include the right to receive additional shares of Common Stock or Common Stock
Equivalents either (A) at a conversion price, exercise price, exchange rate or other price that is based upon and/or varies with the
trading prices of or quotations for the Common Stock at any time after the initial issuance of such equity or debt securities, or
(B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of
such equity or debt security or upon the occurrence of specified or contingent events directly or indirectly related to the business
of the Company or the market for the Common Stock (including, without limitation, any “full ratchet” or “weighted
average” anti-dilution provisions, but not including any standard anti-dilution protection for any reorganization,
recapitalization, non-cash dividend, stock split or other similar transaction), (ii) issues or sells any equity or debt securities,
including without limitation, Common Stock or Common Stock Equivalents, either (A) at a price that is subject to being reset at some
future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events
directly or indirectly related to the business of the Company or the market for the Common Stock (other than standard anti-dilution
protection for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction), or (B) that are
subject to or contain any put, call, redemption, buy-back, price-reset or other similar provision or mechanism (including, without
limitation, a “Black-Scholes” put or call right, other than in connection with a “fundamental transaction”)
that provides for the issuance of additional equity securities of the Company or the payment of cash by the Company, or (iii) enters
into any agreement, including, but not limited to, an “equity line of credit” or “at the market offering” or
other continuous offering or similar offering of Common Stock or Common Stock Equivalents, whereby the Company may sell Common Stock
or Common Stock Equivalents at a future determined price.

 

    I-8

     

    

 

“VWAP”
means, for the Common Stock for a specified period, the dollar volume-weighted average price for the Common Stock on the Trading Market
(or, if the Common Stock is then listed on an Eligible Market, on such Eligible Market), for such period, as reported by Bloomberg through
its “AQR” function. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination,
recapitalization or other similar transaction during such period.

 

“VWAP Purchase”
shall have the meaning assigned to such term in Section 3.1.

 

“VWAP Purchase
Condition Satisfaction Time” shall have the meaning assigned to such term in Section 7.3.

 

“VWAP Purchase
Confirmation” shall have the meaning assigned to such term in Section 3.1.

 

“VWAP Purchase
Commencement Time” means, with respect to a VWAP Purchase made pursuant to Section 3.1, 9:30:01 a.m., New York City time,
on the applicable VWAP Purchase Date, or such later time on such VWAP Purchase Date publicly announced by the Trading Market (or, if the
Common Stock is then listed on an Eligible Market, by such Eligible Market) as the official open (or commencement) of “regular”
trading on the Trading Market (or such Eligible Market, as applicable) on such VWAP Purchase Date.

 

“VWAP Purchase
Date” means, with respect to a VWAP Purchase made pursuant to Section 3.1, the Trading Day on which the Investor receives,
after 6:00 a.m., New York City time, but prior to 9:00 a.m., New York City time, on such Trading Day, a valid VWAP Purchase Notice for
such VWAP Purchase in accordance with this Agreement.

 

“VWAP
Purchase Maximum Amount” means, with respect to a VWAP Purchase made pursuant to Section 3.1, a number of Shares equal
to the lesser of (i) such number of shares of Common Stock which, when aggregated with all other shares of Common Stock then
beneficially owned by the Investor and its Affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3
promulgated thereunder), would cause the Investor’s beneficial ownership of Common Stock to equal, or approximate as closely
as possible without exceeding, the Beneficial Ownership Limitation and (ii) such number of shares of Common Stock equal to the
product of (A) the VWAP Purchase Share Percentage, multiplied by (B) the total number (or volume) of shares of Common Stock traded
on the Trading Market (or, if the Common Stock is then listed on an Eligible Market, on such Eligible Market) during the applicable
VWAP Purchase Period on the applicable VWAP Purchase Date for such VWAP Purchase.

 

    I-9

     

    

 

“VWAP Purchase
Notice” means, with respect to a VWAP Purchase made pursuant to Section 3.1, an irrevocable written notice timely delivered
by the Company to the Investor on a VWAP Purchase Date directing the Investor to purchase a VWAP Purchase Share Amount (such specified
VWAP Purchase Share Amount subject to adjustment as set forth in Section 3.1 as necessary to give effect to the VWAP Purchase Maximum
Amount), at the applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date for such VWAP Purchase in accordance with
this Agreement.

 

“VWAP Purchase
Period” means, with respect to a VWAP Purchase made pursuant to Section 3.1, the period on the applicable VWAP Purchase
Date for such VWAP Purchase beginning at the applicable VWAP Purchase Commencement Time and ending at the applicable VWAP Purchase Termination
Time.

 

“VWAP Purchase
Price” means, with respect to a VWAP Purchase made pursuant to Section 3.1, the purchase price per Share to be purchased
by the Investor in such VWAP Purchase equal to ninety-five percent (95.0%) of the VWAP of the Common Stock for the applicable VWAP Purchase
Period on the applicable VWAP Purchase Date for such VWAP Purchase (to be appropriately adjusted for any reorganization, recapitalization,
non-cash dividend, stock split, reverse stock split or other similar transaction).

 

“VWAP Purchase
Share Amount” means, with respect to a VWAP Purchase made pursuant to Section 3.1, the number of Shares to be purchased
by the Investor in such VWAP Purchase as specified by the Company in the applicable VWAP Purchase Notice, which number of Shares shall
not exceed the applicable VWAP Purchase Maximum Amount.

 

“VWAP Purchase
Share Delivery Date” shall have the meaning assigned to such term in Section 3.2.

 

“VWAP Purchase
Share Percentage” means, with respect to a VWAP Purchase made pursuant to Section 3.1, thirty percent (30%).

 

“VWAP Purchase
Termination Time” means, with respect to a VWAP Purchase made pursuant to Section 3.1, 4:00 p.m., New York City time, on
the applicable VWAP Purchase Date, or such earlier time publicly announced by the Trading Market (or, if the Common Stock is then listed
on an Eligible Market, by such Eligible Market) as the official close of “regular” trading on the Trading Market (or such
Eligible Market, as applicable) on such applicable VWAP Purchase Date.

 

    I-10

     

    

 

EXHIBIT A TO THE

COMMON STOCK PURCHASE AGREEMENT

 

[TO BE FURNISHED SEPARATELY]

 

    A-1

     

    

 

EXHIBIT B TO THE

COMMON STOCK PURCHASE AGREEMENT

CERTiFICATE OF THE COMPANY

 

CLOSING CERTIFICATE

 

[●], 2021

 

The undersigned, the [●]
of Cinedigm Corp., a Delaware corporation (the “Company”), delivers this certificate in connection with the
Common Stock Purchase Agreement, dated as of October 12, 2021 (the “Agreement”), by and between the Company
and B. Riley Principal Capital, LLC, a Delaware limited liability company (the “Investor”), and hereby certifies
on the date hereof that (capitalized terms used herein without definition have the meanings assigned to them in the Agreement):

 

1. Attached
hereto as Exhibit A is a true, complete and correct copy of the Certificate of Incorporation of the Company, as amended through
the date hereof, as filed with the Secretary of State of the State of Delaware. The Certificate of Incorporation of the Company has not
been further amended or restated, and no document with respect to any amendment to the Certificate of Incorporation of the Company has
been filed in the office of the Secretary of State of the State of Delaware since the date shown on the face of the state certification
relating to the Company’s Certificate of Incorporation, which is in full force and effect on the date hereof, and no action has
been taken by the Company in contemplation of any such amendment or the dissolution, merger or consolidation of the Company.

 

2. Attached
hereto as Exhibit B is a true and complete copy of the Bylaws of the Company, as amended and restated through, and as in full force
and effect on, the date hereof, and no proposal for any amendment, repeal or other modification to the Bylaws of the Company has been
taken or is currently pending before the Board of Directors or stockholders of the Company.

 

3. The
Board of Directors of the Company has approved the transactions contemplated by the Transaction Documents; said approval has not been
amended, rescinded or modified and remains in full force and effect as of the date hereof. Attached hereto as Exhibit C are true,
correct and complete copies of the resolutions duly adopted by the Board of Directors of the Company on [●], 2021.

 

4. Each
person who, as an officer of the Company, or as attorney-in-fact of an officer of the Company, signed the Transaction Documents to which
the Company is a party, was duly elected, qualified and acting as such officer or duly appointed and acting as such attorney-in-fact,
and the signature of each such person appearing on any such document is his genuine signature.

 

IN WITNESS WHEREOF,
I have signed my name as of the date first above written.

 

	 	
		Name:
		Title:

 

    B-1

     

    

 

EXHIBIT C TO THE

COMMON STOCK PURCHASE AGREEMENT

COMPLIANCE CERTIFICATE

 

[______ _, 20__]

 

The undersigned, the [●]
of Cinedigm Corp., a Delaware corporation (the “Company”), delivers this certificate in connection with the
Common Stock Purchase Agreement, dated as of October 12, 2021 (the “Agreement”), by and between the Company
and B. Riley Principal Capital, LLC, a Delaware limited liability company (the “Investor”), and hereby certifies
on the date hereof that, to the best of his knowledge after reasonable investigation, on behalf of the Company (capitalized terms used
herein without definition have the meanings assigned to them in the Agreement):

 

1. The
undersigned is the duly appointed [●] of the Company.

 

2. Except
as set forth in the attached Disclosure Schedule, the representations and warranties of the Company set forth in Article V of the Agreement
(i) that are not qualified by “materiality” or “Material Adverse Effect” are true and correct in all material
respects as of [the Commencement Date] [the date hereof] with the same force and effect as if made on [the Commencement Date] [the date
hereof], except to the extent such representations and warranties are as of another date, in which case, such representations and warranties
are true and correct in all material respects as of such other date and (ii) that are qualified by “materiality” or “Material
Adverse Effect” are true and correct as of [the Commencement Date] [the date hereof] with the same force and effect as if made on
[the Commencement Date] [the date hereof], except to the extent such representations and warranties are as of another date, in which case,
such representations and warranties are true and correct as of such other date.

 

3. The
Company has performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Agreement
and the Registration Rights Agreement to be performed, satisfied or complied with by the Company [at or prior to Commencement][on or prior
to the date hereof].

 

4. The
Shares issuable in respect of each VWAP Purchase Notice effected pursuant to the Agreement shall be delivered to the Investor electronically
as DWAC Shares, and shall be freely tradable and transferable and without restriction on resale and without any stop transfer instructions
maintained against such Shares. In accordance with Section 10.1(iv) of the Agreement, the Commitment Shares have been delivered to the
Investor electronically as DWAC Shares, and the Commitment Shares are freely tradable and transferable and without restriction on resale
and without any stop transfer instructions maintained against the Commitment Shares.

 

5. As
of [the Commencement Date][the date hereof], the Company does not possess any material non-public information.

 

6. As
of [the Commencement Date][the date hereof], the Company has reserved out of its authorized and unissued Common Stock, [●] shares
of Common Stock solely for the purpose of effecting VWAP Purchases under the Agreement.

 

7. No
stop order suspending the effectiveness of the Registration Statement or the use of the Prospectus under the Securities Act has been issued
and no proceedings for such purpose or pursuant to Section 8A of the Securities Act are pending before or, to the Knowledge of the Company,
threatened by the Commission.

 

    C-1

     

    

 

The undersigned has executed
this Certificate this [●] day of [●], 202[●].

 

	 	By:	
	 	Name: 	 
	 	Title:	 

 

    C-2

     

    

DISCLOSURE SCHEDULE

RELATING TO THE COMMON STOCK

PURCHASE AGREEMENT, DATED AS OF October 12, 2021

BETWEEN CINEDIGM CORP. AND B. Riley Principal Capital, LLC

 

This disclosure schedule is
made and given pursuant to Article V of the Common Stock Purchase Agreement, dated as of October 12, 2021 (the “Agreement”),
by and between Cinedigm Corp., a Delaware corporation (the “Company”), and B. Riley Principal Capital, LLC,
a Delaware limited liability company. Unless the context otherwise requires, all capitalized terms are used herein as defined in the Agreement.
The numbers below correspond to the section numbers of representations and warranties in the Agreement most directly modified by the below
exceptions.

 

    C-3

     

    

 

Disclosure Schedule

Section 5.3

Capitalization

 

		1.	Pursuant to an Asset Purchase Agreement, dated September 17, 2021, by and among the Company, Bloody Disgusting
Acquisition, LLC and Bloody Disgusting, LLC (the “APA”), the Company is required to file a registration statement within
90 days of September 17, 2021 registering forty percent of the shares of Common Stock constituting the stock closing purchase price under
the APA.

 

		2.	Pursuant to a Stock Purchase Agreement (“SPA”), dated as of May 12, 2021, by and between the
Company and Samrat Ganguly, the Company is required to include the resale of the purchase price stock under the SPA in any registration
statement (that the Company may file and is expected to be effective within 6 months of May 12, 2021) that includes the resale of securities
by other company stockholders.

 

    C-4

     

    

 

Disclosure Schedule 

Section 5.6

Commission Documents

 

		1.	Annual Report on Form 10-K for the fiscal year ended March 31, 2021 filed on July 30, 2021.

 

		2.	Quarterly Report on Form 10-Q for fiscal quarter ended June 30, 2021 filed on September 9, 2021.

 

    

     

    

 

Disclosure Schedule 

Commission Documents

Section 5.7

Subsidiaries

 

		1.	Bloody Disgusting Acquisition, LLC, a Delaware limited liability company.

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