Document:

Exhibit 10.1

 

 

September 26, 2022

Re: Sincerity Applied Materials Holding Corp.

 

CONSULTANCY AGREEMENT

 

This AGREEMENT is made and entered into as of the Effective
Date below (the "Agreement"), by and between the company above signing below (the "Company") and MD Global Partners,
LLC ("Consultant") with principal office below.

 

Whereas, the Consultant is in the business of providing financial
Consulting and placement agent services to public and private companies;

 

Whereas, the Company desires to engage the Consultant to provide
such services in accordance with the terms and conditions hereinafter set forth:

 

The Company and Consultant agree as
follows:

 

1. 
Engagement: The Company agrees to engage services of the Consultant and the Consultant agrees to provide Consulting and placement
agent services to the Company on a non-exclusive basis.

 

2. 
Term: The term of this Agreement shall commence now and shall continue for a period of 12 months with an option to renew for
an additional 12 months at the end of the term, which option must be exercised by the Company in writing and acceptable to Consultant
in order for the renewable to be effective.

 

3. 
Services: Consultant shall render advice and assistance to the Company on business related matters and in connection therewith
shall introduce the Company to the investment community with a view toward securing financing and arranging strategic partnerships or
other opportunities.

 

Consultant agrees to evaluate proposals that relate to
financing or strategic partnership/opportunity offered to or undertaken by the Company.

 

Further, Consultant shall:

		(i)	comment on business plans,
		(ii)	advise the Company with matters regarding OTC Markets (for example, potential 15c211 filer);
		(iii)	advise the Company in preparing for an investment Placement;
		(iv)	introduce the Company to attorneys, consultants, auditors, investor relations, and/or other professionals
to prepare for a capital markets Placement process;
		(v)	advise on acquisitions,
		(vi)	advise on a NASDAQ listing strategy,
		(vii)	introduce other consultants to help,

 

 

 

 

 

    	 	1	 

     

    

 

	 	 	 

		(viii)	do conference calls, research, general consulting and other things as it is comfortable.
		(ix)	create a “Target” list, in consultation with the Company, of “Targets” the Company
and Consultant believe may have interest in effectuating a “Transaction” (defined below);
		(x)	create a list of potential investors in consultation with the Company, of potential investors the Company
and Consultant believe may have interest in effectuating an “Investment” (defined below);
		(xi)	assist the Company in the preparation and dissemination of descriptive information regarding the Company,
its business and its structure, including a customary information memorandum, management presentations and other business, legal and financial
diligence materials, to Target prospects;
		(xii)	assist the Company in any bidding processes for a Transaction and contacting potential Target partners;
		(xiii)	assist the Company in managing the due diligence investigations of the Company by Targets and investors;
		(xiv)	coordinate and assist the management of the Company in preparing for and hosting management presentations
by Targets, as well as with conference and diligence calls;
		(xv)	participate with the Company in meeting(s) between Company management and potential investors and Targets;
		(xvi)	assist the Company in providing formal indications of interest and letters of intent to potential Targets;
		(xvii)	advise the Company with respect to its selection of, and negotiations with, potential Targets and investors;
		(xviii)	advise the Company with respect to the structure of the Transaction and investment;
		(xix)	assist the Company and its counsel in negotiating certain agreements documenting a potential Transaction
and potential Investment and;
		(xx)assist	the Company in its preparation of a presentation and other marketing materials for a Transaction and
Investment.

 

Anything to the contrary herein notwithstanding, it is
agreed that the Consultant's services will not include any services that constitute the rendering of legal opinions or performance of
work that is in the ordinary purview of a law firm and or certified public accountant.

 

 4. Compensation: The Consultant shall be paid by the Company as follows:

 

For any merger or acquisition transaction effected by the Company,
the Company shall pay the Consultant as follows:

		(i)	the Company shall pay to Consultant a cash fee equal to Five percent (5.0%) of the Total Consideration; and
		(ii)	reasonable compensation in the form of equity in the Company, the Company shall issue to Consultant
(or another entity designated by Consultant) equity interests in the post-Transaction surviving entity with value upon issuance to Consultant
equal to one percent (1.0%) of the Total Consideration.

 

For the purposes of this Agreement, “Total Consideration”
shall mean the total market value of, without duplication, all cash, securities, debt or other property paid or transferred at the closing
of a Transaction by or to the Target or the Target’s shareholders or to be paid or transferred in the future to the Target’s
shareholders with respect to such Transaction (other than payments of interest or dividends), including to the extent applicable, any
net value paid in respect of (i) the assets of the Target, (ii) amounts paid under contractual arrangements (including lease arrangements
and management fees) or for agreements not to compete or similar agreements, and (iii) the capital stock of the Target (and the spread
value of any “in the money” securities convertible into options, warrants or other rights to acquire such capital stock),
after giving effect to the assumption, retirement or defeasance, directly or indirectly (by operation of law or otherwise), of any long
term liabilities of the Target or repayment of indebtedness, including indebtedness secured by the assets of the Target, capital leases
or preferred stock obligations; provided, that for the avoidance of doubt, any funds in the Trust Account (as may be applicable in the
case of a Transaction) or financing proceeds raised in connection with the closing of the Transaction (including by way of an Offering,
the compensation to Consultant for which is provided for below), in either case, that are not paid to the Target’s shareholders
as consideration in the Transaction will not be included as part of the Total Consideration. In connection with a sale, transfer or other
disposition of 50% or more of the outstanding capital stock of the Target, the Total Consideration will be calculated as if 100% of the
outstanding capital stock on a fully diluted basis had been acquired at the same per share amount paid in such Transaction.

 

 

 

 

    	 	2	 

     

    

 

For purposes of this Section, the market value of any publicly
traded common stock, whether already outstanding or newly issued, will be equal to the greater of the VWAP of such common stock for the
first five (5) trading days following the consummation of the Transaction. “VWAP” means the dollar volume weighted average
price for such security on the principal securities exchange or securities market on which such security is then traded during the period
beginning at 9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg through its “HP”
function (set to weighted average). Any fee payable to Consultant other than in cash (including relevant portions of the M&A Advisory
Fee) shall be settled no later than the fifth (5) trading day subsequent to consummation of the Transaction.

 

4.1 
Placement Agent Fee: For an investment into the Company by a financing source sourced for the Company directly or indirectly
by the Consultant (“Introduced Investor”) for which the Company receives funds (including any but not limited to debt, common
stock, preferred stock, convertible stock, convertible debentures, subordinated debt with warrants or any other securities convertible
into common stock), the Consultant shall receive upon successful closing

		(iii)	placement agent fee, payable in cash, equal to 7% (seven percent) of the gross amounts raised by the
Company on each said closing,
		(iv)	non-accountable expenses, payable in cash, equal to 1% (one percent) of the gross amounts raised by
the Company on each said closing, and
		(v)	Placement agent fee, payable in cash, equal to 2% (two percent) of the gross amounts raised by the company,
sourced by the Consultant through another introducing broker-dealer on each said closing and/or uplisting.

 

The Company shall pay the Placement Agent upon breaking
escrow or wire schedule the amounts raised and actually received by the Company on each said closing and an invoice from the Consultant
whichever happens first. Escrow Agent will be used for gross amounts raised or funded, for escrow, and will be a legal counsel acceptable
to both parties in writing. Notwithstanding anything to the contrary herein and/or for the avoidance of doubt, it is agreed that no Placement
Agent Fee shall be due or payable by the Company if the transaction triggering the obligation to pay the fee violates any applicable law
or regulation and the transaction is rejected by the Company so that the Company does not accept any money.

 

The Consultant shall obtain, when practicable, the written
approval of the Company on a case-by-case basis prior to introducing the Introduced Investor to the Company. The Consultant and Company
shall maintain a list of all such Introduced Investors, which may be updated from time to time during the term of this Agreement upon
written approval (email is sufficient) of the Company.

 

4.2 
Fee Tail: If during the twenty-four (24) month period following the expiration or termination of this Agreement an investment
or other Transaction in the Company is consummated with an Introduced Investor the Consultant shall be entitled to receive a Placement
Agent Fee, calculated in the manner provided in section 5 to this Agreement.

 

5. 
Reasonable Efforts Basis: Consultant agrees that it will at all time faithfully and to the best of its experience, ability
and talents perform all the duties that may be required of it pursuant to the terms of this Agreement. The Company specifically acknowledges
and agrees, however, that the services to be rendered by Consultant shall be conducted on a "reasonable-efforts" basis and Consultant
has not, cannot and does not guarantee that its efforts will have any impact on the Company's business or that any subsequent financial
improvement will result from its efforts. All Financing and investments and terms thereof shall be subject to the approval of the Company,
in its sole and absolute discretion, and the Company is not bound to agree to any proposed agreement, and shall decide whether or not
to do so in its sole and absolute discretion.

 

6. 
Costs and Expenses: Subject to the last sentence of this paragraph 6, the Consultant shall be entitled to monthly reimbursement
of reasonable and actual out-of-pocket expenses incurred in connection with the services provided under this Agreement. Out-of-pocket
expenses shall include, but not be limited to all reasonable travel expenses, computer and research charges, messenger services, facsimile
and long-distance telephone calls incurred by Consultant in connection with the services to be provided to the Company. Expenses will
be submitted when incurred and payable by wire within five business days of receipt by the Company of receipts and expense reports from
Consultant. Any and all expenses must be approved by the Company in writing in advance of their being incurred.

 

7. 
Non-Exclusive Services: The Company understands that the Consultant is currently providing certain Consulting and financial
consulting services to other individuals and entities and agrees that Consultant is not prevented or barred from rendering services of
the same nature or a similar nature to any other individual or entity.

 

 

 

 

    	 	3	 

     

    

 

8. 
Consultant Not an Agent or Employee: Consultant's obligations under this Agreement consist solely of the services described
herein. In no event, shall Consultant be considered to be acting as an employee or agent of the Company or otherwise representing or binding
the Company. For the purposes of this Agreement, Consultant is an independent contractor. All final decisions with respect to acts of
the Company or its affiliates, whether or not made pursuant to or in reliance on information or advice furnished by Consultant hereunder,
shall be those of the Company or such affiliates and Consultant shall, under no circumstances, be liable for any expenses incurred or
losses suffered by the Company as a consequence of such actions. Consultant agrees that all of his work product relating to the services
to be rendered pursuant to this agreement shall become the exclusive property of the Company. (Consultant is not a partner of the Company)

 

9. 
Representations and Warranties of the Company: The Company represents and warrants to Consultant, each such representation
and warranty being deemed to be material, that:

		(i)	The Company will cooperate fully and timely with Consultant to enable Consultant to perform its obligations
under the Agreement; and
		(ii)	The execution and performance of this agreement by the Company has been duly authorized by the Board
of Directors of the Company in accordance with applicable law.

 

Company represents and promises that all fees and securities
to consultant are deemed earned and nonrefundable and all representations in this agreement shall survive any termination.

 

10. 
Representations and Warranties of Consultant: Consultant hereby represents and warrants to the Company as follows:

		(i)	Consultant has full power and authority to enter into this Agreement, to enter into a consulting relationship
with the Company and to otherwise perform this Agreement in the time and manner contemplated.
		(ii)	Consultant will at all times comply with all applicable laws and regulations in the performance of
its services and/or obligations hereunder.

 

11. Liability of Consultant: In
furnishing the Company with management advice and other services as herein provided, Consultant shall not be liable to the Company or
its creditors for errors of judgment or for anything except malfeasance or gross negligence in the performance of his duties.

 

It is further understood and agreed that Consultant may rely
upon information furnished to it reasonably believed to be accurate and reliable and that, except as herein provided, Consultant shall
not be accountable for any loss suffered by the Company by reason of the Company's action or non-action on the basis of any advice, recommendation
or approval of Consultant.

 

The parties further acknowledge that Consultant undertakes
no responsibility for the accuracy of any statements to be made by management contained in press releases or other communications, including,
but not limited to, filings with the Securities and Exchange Commission and FINRA.

 

12. 
Mutual Indemnification Both parties agree to indemnify and hold harmless the other from and against any and all losses, claims,
damages, liabilities and expenses (including, without limitation reasonable attorneys' fees and costs) due to the other parties fault.

 

The provisions of this Section 12 shall survive the termination
and expiration of this Agreement.

 

13. 
Confidentiality: Until such time as the same may become publicly known, Consultant agrees that any information provided to
it by the Company, that has not been publicly disclosed will not be revealed or disclosed to any person or entities, except in the performance
of this Agreement. Consultant will, where it deems necessary, require confidentiality agreements from any associated persons where it
reasonably believes they will come in contact with confidential material. Consultant further agrees not to use any Confidential Information
except in connection with the performance of its obligations hereunder.

 

14. Applicable Law: This Agreement
shall be governed by the laws of the State of New York without giving effect to its principles of conflicts of law or the principles of
conflicts of law of any other jurisdiction; the sole venue for any legal proceeding relating to this Agreement shall be a court in New
York, New York, unless due to COVID19 related issues it would be more expeditious or in a party discretion to bring suit or action in
Broward County Florida in lieu thereof.

 

 

 

    	 	4	 

     

    

 

15. 
Other Agreements: This Agreement supersedes all prior understandings and agreements between the parties. It may not be amended
orally, but only by a writing signed by the parties hereto.

 

16. 
Non-Waiver: No delay or failure by either party in exercising any right under this Agreement, and no partial or single exercise
of that right shall constitute a waiver of that or any other right.

 

17. 
Non-Circumvention: The Company agrees to maintain the confidentiality of the Consultant’s clients and introductions,
except as required by applicable law. For a period of twenty months from today, the Company will not solicit or enter into any transaction
with any client or introduction without the Consultant’s permission in writing. The reverse of the foregoing applies also to protect
the Company.

 

 18. Termination:

		(i)	Either party may terminate this Agreement upon 10 days’ prior written notice.
		(ii)	On any termination of this Agreement the Company shall remain obligated to pay the costs and expenses
and also fees provided to be paid by it specified in this Agreement and that have been earned by the Consultant up to and after the date
of such termination. Consultant shall retain all securities and rights relating to same.

 

In the event the Consultant has to engage legal counsel and
or to take legal actions to enforce its rights to payments or compensation if it prevails it shall be paid reasonable attorney’s
fees and costs.

 

19. 
Notice: Whenever notice is required by the provisions of this Agreement to be given to any party, such notice shall be in writing,
addressed to the party, at the address or email below for the party.

 

The parties hereto have executed this Agreement the date
below.

 

Effective Date:

 

	MD GLOBAL PARTNERS, LLC	SINCERITY APPLIED MATERIALS HOLDING
CORP.

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	By: OWEN MAY	By: Yiwen (James) Zhang
	 	 
	Title: CEO	Title: CEO
	 	 
	Date: 	Date: 
	 	 
	Email: omay@mdgpartners.com Address:	Email: james@sincerityplastics.com
	 	 
	Address:	Address: 
	329 E 63rd Street	370 Pitt Street
	Suite 3J	Suite 1105
	New York, NY 10065	Level 11
	 	Sydney, NSW 2000, Australia 
	 	 

 

 

 

 

 

 

 

    	 	5Exhibit 10.1
	
	7106766.2 06758/1966

A
MENDMENT
NO. 5
TO CREDIT AGREEMENT

THIS AMENDMENT
NO. 5
TO CREDIT AGREEMENT

(
the “
Amendment
”), is dated as of
September 22,

202
2

and is made by and among

INDEPENDENCE CONTRACT
DRILLING, INC., a
Delaware corporation (“
ICD
”), SIDEWINDER DRILLING LLC, a Delaware limited liability company
(formerly known as ICD Operating LLC, and successor by merger to Patriot Saratoga Merger Sub, LLC)
(“
ICD Operating
”, and together with ICD,
each a

“
Borrower
” and
collectively, “
Borrower
s
”), WELLS
FARGO BANK, NATIONAL ASSOCIATION
, as administrative agent for each member of the Lender
Group and the Bank Product Providers  (in such capacity, together with its successors and assigns in such
capacity, “
Agent
”) and the Lenders party hereto.

RECITALS

Pursuant to that certain Credit Agreement, dated as of
October 1, 2018

(as amended, restated,
supplemented or otherwise modified from time to time, the “
Credit Agreement
”) by and among
Borrower
s
, Agent and Len
der
s
, Lender
s

ha
ve

agreed to make certain financial accommodations available
to Borrower
s

from time to time pursuant to the terms and conditions thereof (capitalized terms used
herein and not otherwise defined herein shall have the meanings assigned to suc
h terms in the Credit
Agreement).

Borrower
s

ha
ve

requested that Agent and Lender
s

agree to amend the Credit Agreement

as set
forth herein.

NOW, THEREFORE, in consideration of the premises and of the mutual covenants and
agreements herein contained, it is

agreed as follows:

1.
Interpretation
.. For purposes of this Amendment, unless otherwise defined herein, all
capitalized terms used herein which are defined in the Credit Agreement shall have respective meanings
ascribed to such terms in the Credit Agreement.

2.
Amendment to Credit Agreement
..
(a)
Borrowers, Agent and Lender entered into an amendment to the Credit
Agreement dated July 31, 2022 that was mistakenly titled “Third Amendment to Credit Agreement”.
Borrowers, Agent and Lender acknowledge and agree that the amendment to the Credit Agreement

dated
July 31, 2022 is
fourth amendment

to the Credit Agreement.

Any reference to the “Third Amendment” in
the Credit Agreement or any other Loan Document shall mean “Amendment No. 4” and the any reference
to the “Third Amendment Effective Date” shall mea
n the “Amendment No. 4 Effective Date”.

(b)
As of the effective date of this Amendment, the

Credit Agreement is amended to
delete the stricken text (indicated textually in the same manner as the following example:
stricken text
)
and to add the double
-
underline
d text (indicated textually in the same manner as the following example:
double
-
underlined text
) as set forth in the pages attached as Exhibit A hereto
..

3.
No Other Changes
..  Except as explicitly amended by this Amendment, all of the terms
and conditions of t
he Credit Agreement shall remain in full force and effect and shall apply to any
Advance thereunder.

4.
Conditions Precedent
.. This effectiveness of this Amendment is subject to the satisfaction
of each of the following conditions:

	
	7106766.2 06758/1966

2

(a)
The
Agent

(or its couns
el) shall have received
the following, in form and
substance acceptable to Agent:

(i)
a counterpart of this Amendment signed on behalf of
each Loan Party
and each Lender;

(ii)
a
n Officer’s

Certificate of
each Loan Party
certifying (i) that
the
resolutions of
such Loan Party
, which were certified and delivered to
Agent

pursuant to the
Officer’s
Certificate
of such Loan Party
date
d October 1, 2018,

continue in full force and effect
and have not been terminated, amended or otherwise modified, a
nd such resolutions authorize the
execution and delivery of this Amendment, and any other agreement or instruments required
hereunder by
each Loan Party

and the performance by
each Loan Party
of its obligations
hereunder and thereunder, (ii) that the organ
izational documents of
each Loan Party

attached to
such certificate are true, correct and complete copies of such organizational
documents
as in effect on the
date hereof
, and (iii)
the names and genuine signatures
of each of
the officers and agents of
suc
h Loan Party who are

authorized to execute and deliver this
Amendment and all other documents, agreements and certificates on behalf of
such Loan Party;

(
i
ii
)
any and all other documents, instruments, writings, agreements, and
information as Agent may rea
sonably request
..

(b)
Borrower shall have
Excess Availability on the
effective date of this Amendment
of not less than $4,000,000
..

5.
Amendment Fee
..  In consideration of the amendments set forth herein, Borrower shall on
the date hereof, pay to Agent, for the
account of Lenders, or Agent, at its option, may charge as a
Revolving Loan, an amendment fee in the amount of $
50,000
, which fee is fully earned and payable as of
the
effective date of this
this Amendment and shall constitute part of the Obligations.

6.
Repr
esentations and Warranties
..
Each
Borrower

hereby represent
s

and warrant
s

to Agent
and Lender as follows:

(a)
Such
Borrower has
all requisite power and authority to execute this Amendment
and any other agreements or instruments required hereunder and to perfor
m all of
its

obligations
hereunder, and this Amendment

and all such other agreements and instruments
have

been duly executed
and delivered by
such
Borrower

and constitute the legal, valid and binding obligation of
such
Borrower
,
enforceable in accordance w
ith its terms, subject to applicable Federal and state bankruptcy and
insolvency laws affecting generally the rights of creditors.

(b)
The execution, delivery and performance by
such
Borrower
of this Amendment
and any other agreements or instruments required h
ereunder have been duly authorized by all necessary
corporate action and do not (i)

require any authorization, consent or approval by any governmental
department, commission, board, bureau, agency or instrumentality, domestic or foreign, (ii)

violate any
p
rovision of any law, rule or regulation or of any order, writ, injunction or decree presently in effect,
having applicability to
such
Borrower
, or the articles of incorporation or the by
-
laws of

such

Borrower
, or
(iii)
result in a breach of or constitute a default under any indenture or loan or credit agreement or any
other material agreement, lease or instrument to which
Borrower
is a party or by which it or its properties
may be bound or affected.
(c)
All of the representations and warranties contained in Section 4 of the Credit
Agreement are correct on and as of the date hereof as though made on and as of such date, except to the

	
	7106766.2 06758/1966

3

extent that such representations and warranties relate solely to an earli
er date

in which case such
representations and warranties shall be correct in all material respects as of such earlier date
..

(d)
No Default or Event of Default exists or has occurred and is continuing as of the
date of this Amendment.

7.
References
..  As of the ef
fective date of this Amendment, all references in the Credit
Agreement to “this Agreement” shall be deemed to refer to the Credit Agreement as amended hereby; and
any and all references in the Loan Documents to the Credit Agreement shall be deemed to refer

to the
Credit Agreement as amended hereby.

8.
No Waiver
..  The execution of this Amendment and the acceptance of

all other
agreements and instruments related hereto shall not be deemed to be a waiver of any Default or Event of
Default under the Credit Agreeme
nt

or other document held by Agent or any Lender, whether or not
known to Agent or any Lender and whether or not existing on the date of this Amendment.

9.
Release
..
Each
Borrower

hereby absolutely and unconditionally releases and forever
discharges
Agent and

each member of the Lender Group, and any and all participants, parent
corporations, subsidiary corporations, affiliated corporations, insurers, indemnitors, successors and
assigns thereof, together with all of the present and former directors, officers, a
gents and employees of
any of the foregoing, from any and all claims, demands or causes of action of any kind, nature or
description, whether arising in law or equity or upon contract or tort or under any state or federal law or
otherwise, which
such
Borro
wer

has had, now has or has made claim to have against any such person for
or by reason of any act, omission, matter, cause or thing whatsoever arising from the beginning of time to
and including the date of this Amendment, whether such claims, demands and

causes of action are
matured or unmatured or known or unknown.

10.
Costs and Expenses
..  Borrower hereby reaffirm
s

its
agreement under the Credit
Agreement to pay or reimburse Agent on demand for all costs and expenses incurred by Agent in
connection with the
Loan Documents, including without limitation all reasonable fees and disbursements
of legal counsel.  Without limiting the generality of the foregoing, Borrower specifically agree
s

to pay all
reasonable fees and disbursements of counsel to Agent for the se
rvices performed by such counsel in
connection with the preparation of this Amendment and the documents and instruments incidental hereto.
Borrower hereby agree
s

that Agent may, at any time or from time to time in its sole discretion and
without further a
uthorization by Borrower, make a loan to Borrower under the Credit Agreement, or
apply the proceeds of any loan, for the purpose of paying any such fees, disbursements, costs and
expenses.

11.
Governing Law
..  The rights and obligations hereunder of each of the

parties hereto shall
be governed by and interpreted and determined in accordance with the laws of the State of New York.

12.
Counterparts
..  This Amendment may be executed by means of (a) an electronic signature
that complies with the federal Electronic Signat
ures in Global and National Commerce Act, state
enactments of the Uniform Electronic Transactions Act, or any other relevant and applicable electronic
signatures law; (b) an original manual signature; or (c) a faxed, scanned, or photocopied manual
signatur
e.  Each electronic signature or faxed, scanned, or photocopied manual signature shall for all
purposes have the same validity, legal effect, and admissibility in evidence as an original manual
signature.  Agent reserves the right, in its sole discretion,
to accept, deny, or condition acceptance of any
electronic signature on this Amendment. This Amendment may be executed in any number of
counterparts, each of which shall be deemed to be an original, but such counterparts shall, together,

	
	7106766.2 06758/1966

4

constitute only on
e instrument.  Delivery of an executed counterpart of a signature page of this
Amendment will be as effective as delivery of a manually executed counterpart of the Agreement.

13.
Miscellaneous
.. This Amendment shall be binding upon, inure to the benefit of and
be
enforceable by the respective successors and assigns of the parties hereto. To the extent any provision of
this Amendment is prohibited by or invalid under the applicable law of any jurisdiction, such provision
shall be ineffective only to the extent of

such prohibition or invalidity and only in any such jurisdiction,
without prohibiting or invalidating such provision in any other jurisdiction or the remaining provisions of
this Amendment in any jurisdiction. For the avoidance of doubt, this Amendment sh
all be deemed a Loan
Document.

[Signature pages follow]

	
	Amendment No. 5 to Credit AgreementIN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed asof the date first written above.
/s/  Philip A. Choyce
Philip A.Choyce
Executive Vice President & CFO
/s/ Philip A.ChoycePhilip A. CHoyce
Executive Vice President & CFO

	
	
 AGENT AND LENDER:   WELLS FARGO BANK, NATIONAL ASSOCIATION, as Agent and Lender         By: /s/ Seth Setterberg
      Name: Seth Setterberg
      Title: Authorized Signatory

	
	
7109971.1
7109971.6

Exhibit A to Amendment No. 5 to Credit Agreement

dated September 22, 2022

CREDIT AGREEMENT

by and among

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Agent and Issuing Bank,

WELLS
FARGO BANK, NATIONAL ASSOCIATION,

as Sole Lead Arranger and Bookrunner,

THE LENDERS PARTY HERETO,

as Lenders,

INDEPENDENCE CONTRACT DRILLING, INC.

ICD OPERATING LLC

PATRIOT SARATOGA MERGER SUB, LLC,

as
Borrower
Borrowers,

and

THE OTHER PARTIES HERETO,

as Gu
arantors,

Dated as of October 1, 2018

	
	
i

7109971.6

TABLE OF CONTENTS

Page

1.

DEFINITIONS AND
CONSTRUCTION.

.................................
.................................
.......................

1

1.1

Definitions

.................................
.................................
.................................
...........................

1

1.2

Accounting Terms

.................................
.................................
.................................
..........

46
49

1.3

UCC

.................................
.................................
.................................
...............................

47
50

1.4

Construction

.................................
.................................
.................................
...................

47
50

1.5

Time References

.................................
.................................
.................................
............

48
51

1.6

Schedules and Exhibits

.................................
.................................
.................................
..

48
51

1.7

Divisions

.................................
.................................
.................................
............................

51

1.8

Rates

.................................
.................................
.................................
.................................
..

51

2.

LOANS AND TERMS OF PAYMENT.

.................................
.................................
....................

48
51

2.1

Revolving Loans
..

.................................
.................................
.................................
...........

48
51

2.2

Reserved
..
.................................
.................................
.................................
........................

49
52

2.3

Borrowing Procedures and Settlements
..

.................................
.................................
........

49
52

2.4

Payments; Reductions of Commitments; Prepayments
..

.................................
................

55
58

2.5

Promise to Pay; Promissory Notes
..

.................................
.................................
................

58
62

2.6

Interest Rates and Letter of Credit Fee: Rates, Payments, and Calculations
..

................

59
62

2.7

Crediting
Payments

.................................
.................................
.................................
........

60
64

2.8

Designated Account

.................................
.................................
.................................
.......

60
64

2.9

Maintenance of Loan Account; Statements of Obligations

.................................
...........

60
64

2.10

Fees
..

.................................
.................................
.................................
...............................

61
64

2.11

Letters of Credit
..

.................................
.................................
.................................
............

61
65

2.12

LIBOR
SOFR

Option
..

.................................
.................................
.................................
....

69
73

2.13

Capital Requirements
..

.................................
.................................
.................................
....

71
76

2.14

Reserved
..
.................................
.................................
.................................
........................

73
78

2.15

Reserved
..
.................................
.................................
.................................
........................

73
78

2.16

Joint and Several Liabilities of Borrowers
..

.................................
.................................
....

73
78

3.

CONDITIONS; TERM OF AGREEMENT.

.................................
.................................
..............

75
80

3.1

Conditions Precedent to the Initial Extension of Credit

.................................
................

75
80

3.2

Conditions Precedent to all Extensions of Credit

.................................
..........................

76
80

3.3

Maturity

.................................
.................................
.................................
.........................

76
81

3.4

Effect of Maturity

.................................
.................................
.................................
..........

76
81

3.5

Early Termination by Borrowers

.................................
.................................
...................

76
81

3.6

Conditions Subsequent

.................................
.................................
.................................
..

77
81

4.

REPRESENTATIONS AND WARRANTIES.

.................................
.................................
..........

77
81

4.1

Due Organization and Qualification; Subsidiaries
..
.................................
........................

77
82

4.2

Due Authorization; No Conflict
..
.................................
.................................
....................

78
82

4.3

Governmental Consents

.................................
.................................
.................................

78
83

4.4

Binding O
bligations; Perfected Liens
..

.................................
.................................
...........

78
83

	
	
7109971.6

ii

4.5

Title to Assets; No Encumbrances

.................................
.................................
.................

79
83

4.6

Litigation
..

.................................
.................................
.................................
.......................

79
84

4.7

Compliance with Laws

.................................
.................................
.................................
..

79
84

4.8

No Material Adverse Effect

.................................
.................................
...........................

79
84

4.9

Solvency
.................................
.................................
.................................
.........................

79
84

4.10

Employee Benefits
..

.................................
.................................
.................................
........

79
84

4.11

Environmental Condition

.................................
.................................
...............................

80
85

4.12

Complete Disclosure

.................................
.................................
.................................
......

80
85

4.13

Patriot Act

.................................
.................................
.................................
......................

81
86

4.14

Indebtedness
.................................
.................................
.................................
...................

81
86

4.15

Payment of Taxes

.................................
.................................
.................................
...........

81
86

4.16

Margin Stock
.................................
.................................
.................................
..................

81
86

4.17

Governmental Regulation

.................................
.................................
..............................

81
86

4.18

OFAC; Sanctions; Anti
-
Corruption Laws; Anti
-
Money Laundering Laws

...................

81
86

4.19

Employee and Labor
Matters

.................................
.................................
.........................

82
87

4.20

[Reserved]

.................................
.................................
.................................
......................

82
87

4.21

Leases
.................................
.................................
.................................
.............................

82
87

4.22

Eligible Accounts

.................................
.................................
.................................
...........

82
87

4.23

Hedge Agreements

.................................
.................................
.................................
.........

82
87

4.24

Closing Date Merger Documents; Term Loan Documents
; 2026 Notes Documents
..

...

83
87

5.

AFFIRMATIVE COVENANTS.

.................................
.................................
...............................

84
88

5.1

Financial Statements, Reports,
Certificates

.................................
.................................
...

84
89

5.2

Reporting

.................................
.................................
.................................
.......................

84
89

5.3

Existence

.................................
.................................
.................................
........................

84
89

5.4

Maintenance of Properties

.................................
.................................
.............................

84
89

5.5

Taxes

.................................
.................................
.................................
..............................

84
89

5.6

Insurance

.................................
.................................
.................................
........................

84
89

5.7

Inspection

.................................
.................................
.................................
.......................

85
90

5.8

Compliance with Laws

.................................
.................................
.................................
..

86
90

5.9

Environmental

.................................
.................................
.................................
................

86
91

5.10

Disclosure Updates

.................................
.................................
.................................
........

86
91

5.11

Formation or Acquisition

of Subsidiaries

.................................
.................................
......

86
91

5.12

Further Assurances

.................................
.................................
.................................
........

87
92

5.13

Location of Chief Executive Office

.................................
.................................
...............

87
92

5.14

OFAC; Sanctions; Anti
-
Corruption Laws; Anti
-
Money Laundering Laws

...................

87
92

6.

NEGATIVE COVENANTS.

.................................
.................................
.................................
......

87
92

6.1

Indebtedness
.................................
.................................
.................................
...................

87
92

6.2

Liens

.................................
.................................
.................................
..............................

87
92

6.3

Restrictions on

Fundamental Changes

.................................
.................................
...........

88
92

6.4

Disposal of Assets

.................................
.................................
.................................
..........

88
93

6.5

Nature of Business

.................................
.................................
.................................
.........

88
93

6.6

Prepayments and Amendments

.................................
.................................
......................

88
93

6.7

Restricted Payments; Management Fees

.................................
.................................
.......

89
94

6.8

Accounting Methods

.................................
.................................
.................................
......

89
94

6.9

Investments

.................................
.................................
.................................
....................

90
94

6.10

Transactions with Affiliates

.................................
.................................
...........................

90
94

6.11

Use of Proceeds

.................................
.................................
.................................
.............

90
95

	
	
7109971.6

iii

6.12

Limitation on Issuance of Equity Interests

.................................
.................................
....

91
95

7.

FINANCIAL COVENANT.

.................................
.................................
.................................
.......

91
95

7.1

Fixed Charge Coverage Ratio

.................................
.................................
........................

91
95

7.2

Right to Cure
..

.................................
.................................
.................................
.................

91
96

8.

EVENTS OF DEFAULT.

.................................
.................................
.................................
...........

92
96

8.1

Payments

.................................
.................................
.................................
........................

92
96

8.2

Covenants
.................................
.................................
.................................
.......................

92
97

8.3

Judgments

.................................
.................................
.................................
..........................

97

8.4

Voluntary Bankruptcy, Etc

.................................
.................................
............................

93
97

8.5

Involuntary Bankruptcy, Etc

.................................
.................................
..........................

93
97

8.6

Default under Other Agreements

.................................
.................................
...................

93
97

8.7

Representations, Etc

.................................
.................................
.................................
.......

93
98

8.8

Guaranty
.................................
.................................
.................................
.........................

93
98

8.9

Security Documents

.................................
.................................
.................................
.......

93
98

8.10

Loan Documents

.................................
.................................
.................................
............

93
98

8.11

Change of Control

.................................
.................................
.................................
..........

94
98

8.12

ERISA

.................................
.................................
.................................
............................

94
98

8.13

Subordination; Intercreditor Agreement

.................................
.................................
........

94
99

9.

RIGHTS AND REMEDIES.

.................................
.................................
.................................
......

94
99

9.1

Rights and Remedies

.................................
.................................
.................................
.....

94
99

9.2

Remedies Cumulative

.................................
.................................
.................................
....

95
99

10.

WAIVERS; INDEMNIFICATION.

.................................
.................................
.........................

95
100

10.1

Demand; Protest; etc

.................................
.................................
.................................
....

95
100

10.2

The Lender Group’s Liability for Collateral

.................................
................................

95
100

10.3

Indemnification

.................................
.................................
.................................
............

95
100

11.

NOTICES.

.................................
.................................
.................................
.................................

96
101

12.

CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER.

.................................
.................

97
102

13.

ASSIGNMENTS AND PARTICIPATIONS; SUCCESSORS.

.................................
...............

98
103

13.1

Assignments and Participations
..

.................................
.................................
..................

98
103

13.2

Successors

.................................
.................................
.................................
..................

101
106

14.

AMENDMENTS; WAIVERS.

.................................
.................................
...............................

101
106

14.1

Amendments and Waivers
..

.................................
.................................
........................

101
106

14.2

Replacement of Certain Lenders
..

.................................
.................................
...............

103
107

14.3

No Waivers; Cumulative Remedies

.................................
.................................
...........

103
108

15.

AGENT; THE LENDER GROUP.

.................................
.................................
.........................

104
108

	
	
7109971.6

iv

15.1

Appointment and Authorization of Agent

.................................
.................................

104
108

15.2

Delegation of Duties

.................................
.................................
.................................
..

104
109

15.3

Liability of Agent

.................................
.................................
.................................
.......

105
109

15.4

Reliance by Agent

.................................
.................................
.................................
......

105
110

15.5

Notice of Default or Event of Default

.................................
.................................
........

105
110

15.6

Credit Decision

.................................
.................................
.................................
..........

106
110

15.7

Costs and Expenses; Indemnification

.................................
.................................
........

106
111

15.8

Agent in Individual Capacity

.................................
.................................
.....................

107
111

15.9

Successor Agent

.................................
.................................
.................................
.........

107
112

15.10

Lender in Individual Capacity

.................................
.................................
...................

108
112

15.11

Collateral Matters
..

.................................
.................................
.................................
.....

108
112

15.12

Restrictions on Actions by Lenders; Sharing of Payments
..

.................................
.......

109
114

15.13

Agency for Perfection

.................................
.................................
................................

110
114

15.14

Payments by Agent to Lenders

.................................
.................................
..................

110
114

15.15

Concerning the Collateral and Re
lated Loan Documents

.................................
..........

110
115

15.16

Field Examination Reports; Confidentiality; Disclaimers by Lenders; Other Reports
and Information

.................................
.................................
.................................
.......................

110
115

15.17

Several Obligations; No Liability

.................................
.................................
..............

111
116

15.18

Sole Lead Arranger and Book Runner

.................................
.................................
.......

111
116

16.

TAX MATTERS.

.................................
.................................
.................................
....................

112
116

16.1

Payments

.................................
.................................
.................................
....................

112
116

16.2

Exemptions
..

.................................
.................................
.................................
...............

112
117

16.3

Reductions
..

.................................
.................................
.................................
................

114
118

16.4

Refunds

.................................
.................................
.................................
......................

114
119

17.

GENERAL PROVISIONS.

.................................
.................................
.................................
....

115
119

17.1

Effectiveness

.................................
.................................
.................................
..............

115
119

17.2

Section Headings

.................................
.................................
.................................
.......

115
119

17.3

Interpretation

.................................
.................................
.................................
..............

115
119

17.4

Severability of Provisions

.................................
.................................
..........................

115
119

17.5

Bank
Product Providers

.................................
.................................
.............................

115
120

17.6

Debtor
-
Creditor Relationship
.................................
.................................
.....................

116
120

17.7

Counterparts; Electronic Execution

.................................
.................................
...........

116
120

17.8

Revival and Reinstatement of Obligations

.................................
................................

116
121

17.9

Confidentiality
..

.................................
.................................
.................................
..........

116
121

17.10

Lender Group Expenses

.................................
.................................
.............................

117
122

17.11

Survival

.................................
.................................
.................................
......................

118
122

17.12

Patriot Act

.................................
.................................
.................................
..................

118
122

17.13

Integration

.................................
.................................
.................................
..................

118
122

17.14

Keepwell

.................................
.................................
.................................
....................

118
123

17.15

Judgment Currency

.................................
.................................
.................................
....

118
123

17.16

Parent as Administrative Agent for Borrowers

.................................
..........................

119
123

17.17

“Know Your Customer” Checks

.................................
.................................
................

119
124

17.18

Acknowledgment
Acknowledgement

and Consent to Bai
l
-
In of
EEA
Affected

Financial Institutions

.................................
.................................
.................................
...............

120
124

17.19

Conflicts with Intercreditor Agreement

.................................
.................................
.....

120
125

17.20

Acknowledgement Regarding Any Supported QFCs

.................................
................

120
125

17.21

Erroneous Payments

.................................
.................................
.................................
........

125

	
	
7109971.6

v

EXHIBITS AND SCHEDULES

Exhibit A
-
1

Form of Assignment and
Acceptance

Exhibit B
-
1

Form of Borrowing Base Certificate

Exhibit C
-
1

Form of Compliance Certificate

Exhibit J
-
1

Form of Joinder

Exhibit L
-
1

Form of
LIBOR
SOFR

Notice

Exhibit P
-
1

Form of Perfection Certificate

Exhibit S
-
1

Form of Solvency Certificate

Sched
ule A
-
1

Agent’s Accounts

Schedule A
-
2

Authorized Persons

Schedule C
-
1

Commitments

Schedule D
-
1

Designated Account

Schedule P
-
1

Permitted Investments

Schedule P
-
2

Permitted Liens

Schedule 2.11

Existing Letters of Credit

Schedule 3.1

Conditions
Precedent to Initial Extension of Credit

Schedule 3.6

Conditions Subsequent

Schedule
4.1
(b)

Capitalization of Loan Parties

Schedule
4.1
(c)

Capitalization of Loan Parties’ Subsidiaries

Schedule
4.2
4.1
(d)

Subscription, Options, Warrants, Calls

Schedule
4.6
(b)

Litigation

Schedule 4.10

Employee Benefits Plans

Schedule
4.11

Enviro
nmental Matters

Schedule 4.14

Indebtedness

Schedule 5.1

Financial Statements, Reports, Certificates

Schedule 5.2

Collateral Reporting

Schedule 6.5

Nature of Business

	
	
7109971.6

CREDIT AGREEMENT

THIS CREDIT
AGREEMENT

(this “
Agreement
”), is entered into as of October 1, 2018 by and
among the lenders identified on the signature pages hereof (each of such lenders, together with its
successors and permitted assigns, is referred to hereinafter as a “
Lender
”, as
that term is hereinafter further
defined), WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for each member
of the Lender Group and the Bank Product Providers  (in such capacity, together with its successors and
assigns in such capacity, “
Ag
ent
”), INDEPENDENCE CONTRACT DRILLING, INC., a Delaware
corporation (“
Parent
”), as lead borrower for the Borrowers referenced below (in such capacity, together
with its successors and assigns in such capacity, “
Lead Borrower
”), PATRIOT SARATOGA MERGER
SUB,

LLC, Delaware limited liability company (“
Merger Sub
”), ICD OPERATING LLC, a Delaware
limited liability company formerly known as Sidewinder Drilling LLC (“
ICD Operating
”) and the other
Affiliates of Parent party hereto from time to time as borrowers (suc
h Affiliates together with Parent,
Merger Sub and ICD Operating, each individually a “Borrower”, and collectively, jointly and severally,
“
Borrowers
”), and each Affiliate of Parent party hereto from time to time as guarantors (each individually
a “
Guaranto
r
” and collectively, jointly and severally, as “
Guarantors
”).

WHEREAS, the Borrowers have requested that the Lenders provide a revolving credit facility, and
the Lenders have indicated their willingness to lend, in each case on the terms and conditions set

forth
herein.

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

1.

DEFINITIONS AND CONSTRUCTION.

1.1

Definitions
..  As used in this Agreement, the following terms shall hav
e the following
definitions:

“
2026 Notes
” means the Floating Rate Convertible Senior Secured PIK Toggle Notes due 2026
issued pursuant to the 2026 Notes Indenture.

“
2026 Notes Documents
” means, collectively, the following: (a) the 2026 Notes, (b) the 2026
Notes
Indenture, and (c) all agreements, documents and instruments at any time executed and/or delivered in
connection therewith.

“
2026 Notes Indebtedness
” means any Indebtedness incurred under the 2026 Notes Documents.

“
2026 Notes Indenture
” means the Ind
enture, dated as of March 18, 2022, by and between ICD and
the 2026 Notes Trustee (as the same may now exists or may hereafter be amended, restated, refinanced,
replaced, extended, renewed or restructured in accordance with the provisions hereof and the te
rms of the
Intercreditor Agreement).

“
2026 Notes Trustee
” means U.S. Bank Trust Company National Association, in its capacity as
trustee and collateral agent under the 2026 Notes Indenture and the other 2026 Notes Documents, or any
successor trustee or col
lateral agent under the 2026 Notes Documents.

“
ABL Priority Collateral
” has the meaning specified therefor in the Intercreditor Agreement.

“
Account
” means an account (as that term is defined in the UCC).

	
	
2

“
Account Debtor
” means any Person who is obligated o
n an Account, chattel paper, or a General
Intangible.

“
Account Party
” has the meaning specified therefor in
Section 2.11(h)

of this Agreement.

“
Accounting Changes
” means changes in accounting principles required by the promulgation of
any rule, regulation,

pronouncement or opinion by the Financial Accounting Standards Board of the
American Institute of Certified Public Accountants (or successor thereto or any agency with similar
functions).

“
Acquired Indebtedness
” means Indebtedness of a Person the assets or Equity Interests of which
are acquired by a Loan Party or any of its Subsidiaries in a Permitted Acquisition;
provided
, that such
Indebtedness (a) is not secured by Collateral, (b) was in existence prior to th
e date of such Permitted
Acquisition and (c) was not incurred in connection with, or in contemplation of, such Permitted Acquisition.

“
Acquisition
” means (a) the purchase or other acquisition by a Loan Party of all or substantially all
of the assets of (or

any division or business line of) any other Person, or (b) the purchase or other acquisition
(whether by means of a merger, consolidation, or otherwise) by a Person or its Subsidiaries of all or
substantially all of the Equity Interests of any other Perso
n.

“
Additional Documents
” has the meaning specified therefor in
Section 5.12

of this Agreement.

“
Administrative Questionnaire
” has the meaning specified therefor in
Section 13.1

of this
Agreement.

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

“
Affected Lender
” has the meaning specified therefor in
Section 2.13(b)

of this Agreement.

“
Affiliate
” means, as applied to any Person, any other Person who controls, is controlled by, or is
under
common control with, such Person.  For purposes of this definition, “control” means the possession,
directly or indirectly, of the power to direct the management and policies of a Person, whether through the
ownership of Equity Interests, by contract, or o
therwise;
provided
,
that
, for purposes of the definition of
Eligible Accounts and
Section 6.10

of this Agreement: (a) any Person which owns directly or indirectly ten
percent (10%) or more of the Equity Interests having ordinary voting power for the electi
on of directors or
other members of the governing body of a Person or ten percent (10%) or more of the partnership or other
ownership interests of a Person (other than as a limited partner of such Person) shall be deemed an Affiliate
of such Person, (b) ea
ch director (or comparable manager) of a Person shall be deemed to be an Affiliate
of such Person, and (c) each partnership in which a Person is a general partner shall be deemed an Affiliate
of such Person.

“
Agent
” has the meaning specified therefor in t
he preamble to this Agreement.

“
Agent
-
Related Persons
” means Agent, together with its Affiliates, officers, directors, employees,
attorneys, and agents.

“
Agent’s Account
” means the Deposit Account of Agent identified as “Agent’s Accounts” on
Schedule A
-
1
..

	
	
3

“
Agent’s Liens
” means the Liens granted by each Loan Party to Agent under the Loan Documents
and securing the Obligations.

“
Agreement
” means this Credit Agreement, as amended, restated, amended and restated,
supplemented or otherwise modified from time t
o time.

“
Agreement Currency
” has the meaning specified therefor in
Section 17.15

of this Agreement.

“
Amendment No. 3
” shall mean Amendment No. 3 to Credit Agreement, dated March 18, 2022,
by and among Agent, Lenders and Borrowers, as the same now exists or

may hereafter be amended,
modified, supplemented, extended, renewed, restated or replaced.

“
Amendment No. 3 Effective Date
” means March 18, 2022.

“Amendment No. 4 Effective Date” means July 31, 2022.

“Amendment No. 5” shall mean Amendment No. 5 to Credit
Agreement, dated September 22,
2022, by and among Agent, Lenders and Borrowers, as the same now exists or may hereafter be amended,
modified, supplemented, extended, renewed, restated or replaced.

“Amendment No. 5 Effective Date” means September 22, 2022.

“
Anti
-
Corruption Laws
”
means the FCPA, the U.K. Bribery Act of 2010, as amended, and all other
applicable laws and regulations or ordinances concerning or relating to bribery, money laundering or
corruption in any jurisdiction in which any Loan Party or an
y of its Subsidiaries or Affiliates is located or
is doing business
..

“
Anti
-
Money Laundering Laws
”
means the applicable laws or regulations in any jurisdiction in
which any Loan Party or any of its Subsidiaries or Affiliates is located or is doing business
that relates to
money laundering, any predicate crime to money laundering, or any financial record keeping and reporting
requirements related thereto.

“
Applicable Margin
” means (a) as to Revolving Loans for which interest is calculated based on the
Base Ra
te, the Applicable Base Rate Margin set forth below, and (b) as to Revolving Loans for which
interest is calculated based on
LIBOR
SOFR
, the Applicable
LIBOR
SOFR

Margin set forth below,

Tier

Quarterly Average Excess

Availability

Applicable Base Rate

Margin

Applicable
LIBOR
SOFR

Margin

1

Greater than $26,666,666

1.00
1.50
%

2.00
2.36
%

2

Greater than $13,333,333 but less
than or equal to $26,666,666

1.25
1.75
%

2.25
2.61
%

3

Less than or equal to $13,333,333

1.50
2.00
%

2.50
2.86
%

provided
,
that
, (i) the Applicable Margin shall be calculated and established once each calendar quarter and
shall remain in effect until adjusted for the next calendar quarter, (ii) each adjustment of the Applicable
Margin shall be effective as of the first day of each

such calendar quarter based on the Quarterly Average

	
	
4

Excess Availability for the immediately preceding calendar quarter, (iii) notwithstanding anything to the
contrary contained herein, for the period from the
Closing
Amendment No. 5 Effective

Date until t
he last
day of the first full calendar quarter immediately following the
Closing
Amendment No. 5 Effective

Date,
the Applicable Margin shall be based on the applicable percentage set forth in Tier
2
3
, and (iv) in the event
that the Lead Borrower fails to
provide any Borrowing Base Certificate or other information with respect
thereto for any period on the date required hereunder, effective as of the date on which such Borrowing
Base Certificate or other information was otherwise required, at Agent’s option
, the Applicable Margin
shall be based on the highest rate above until the next Business Day after a Borrowing Base Certificate or
other information is provided for the applicable period at which time the Applicable Margin shall be
adjusted as otherwise pr
ovided herein.  In the event that at any time after the end of any calendar quarter
the Quarterly Average Excess Availability for such calendar quarter used for the determination of the
Applicable Margin was greater than the actual amount of the Quarterly
Average Excess Availability for
such period as a result of the inaccuracy of information provided by or on behalf of any Borrower to Agent
for the calculation of Excess Availability, the Applicable Margin for such period shall be adjusted to the
applicable

percentage based on such actual Quarterly Average Excess Availability and any additional
interest for the applicable period as a result of such recalculation shall be promptly paid to Agent.  The
foregoing shall not be construed to limit the rights of Age
nt or Lenders with respect to the amount of interest
payable after a Default or Event of Default whether based on such recalculated percentage or otherwise.

“
Application Event
” means the occurrence of (a) a failure by Borrowers to repay all of the
Obligati
ons in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required
Lenders to require that payments and proceeds of Collateral be applied pursuant to
Section 2.4(b)(iii)

of
this Agreement.

“
Assignee
” has the meaning spec
ified therefor in
Section 13.1(a)

of this Agreement.

“
Assignment and Acceptance
” means an Assignment and Acceptance Agreement substantially in
the form of Exhibit A
-
1.

“
Authorized Person
” means any one of the individuals identified on
Schedule A
-
2
, as such

schedule
is updated from time to time by written notice from Lead Borrower to Agent.

“Available Tenor” means, as of any date of determination and with respect to the then
-
current
Benchmark, as applicable, (a ) if such Benchmark is a term rate, any tenor f
or such Benchmark (or
component thereof) that is or may be used for determining the length of an interest period pursuant to this
Agreement or (b) otherwise, any payment period for interest calculated with reference to such Benchmark
(or component  thereof
) that is or may be used for determining any frequency of making payments of
interest calculated with reference to such Benchmark
pursuant to this Agreement
, in each case, as of such
date and not including, for the avoidance of doubt, any tenor for such Be
nchmark that is then
-
removed from
the definition of “Interest Period” pursuant to Section 2.12(d)(iii)(D).

“
Bail
-
In Action
” means the exercise of any Write
-
Down and Conversion Powers by the applicable
EEA
Resolution Authority in respect of any liability of

an
EEA
Affected

Financial Institution.

“
Bail
-
In Legislation
” means,
(a)
with respect to any EEA Member Country implementing Article
55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the
implementing law
, regula
tion, rule or requirement

for such EEA Member Country from time to time which
is described in the EU
Bail
-
in
Bail
-
In

Legislation Schedule
..

and (b)
with respect to the United Kingdom,
Part I of the United Kingdom Banking Act 2009 (as amended from time to tim
e) and any other law,
regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks,

	
	
5

investment firms or other financial institutions or their affiliates (other than through liquidation,
administration or other
insolvency proceedings)
..

“
Bank Product
” means any one or more of the following financial products or accommodations
extended to any Loan Party or any of its Subsidiaries by a Bank Product Provider: (a) credit cards, (b)
payment card processing services, (
c) debit cards, (d) stored value cards, (e) commercial cards and purchase
cards (including so
-

called “procurement cards” or “P
-
cards”), (f) Cash Management Services, or (g)
transactions under Hedge Agreements.

“
Bank Product Agreements
” means those agreeme
nts entered into from time to time by any Loan
Party or any of its Subsidiaries with a Bank Product Provider in connection with the obtaining of any of the
Bank Products.

“
Bank Product Collateralization
” means providing cash collateral (pursuant to documen
tation
reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other
than the Hedge Providers) in an amount reasonably determined by Agent as sufficient to satisfy the
reasonably estimated credit exposure, opera
tional risk or processing risk with respect to the then existing
Bank Product Obligations (other than Hedge Obligations).

“
Bank Product Obligations
” means (a) all obligations, liabilities, reimbursement obligations, fees,
or expenses owing by any Loan Part
y to any Bank Product Provider pursuant to or evidenced by a Bank
Product Agreement and irrespective of whether for the payment of money, whether direct or indirect,
absolute or contingent, due or to become due, now existing or hereafter arising, (b) all H
edge Obligations,
and (c) all amounts that Agent or any Lender is obligated to pay to a Bank Product Provider as a result of
Agent or such Lender purchasing participations from, or executing guarantees or indemnities or
reimbursement obligations to, a Bank

Product Provider with respect to the Bank Products provided by such
Bank Product Provider to any Loan Party.  Anything to the contrary contained in the foregoing
notwithstanding, the Bank Product Obligations shall exclude any Excluded Swap Obligation.

“
Ba
nk Product Provider
” means Wells Fargo or any of its Affiliates.

“
Bank Product Reserves
”
means, as of any date of determination, those reserves that Agent deems
necessary or appropriate to establish (based upon the Bank Product Providers’ determination of
the
liabilities and obligations of each Loan Party and its Subsidiaries in respect of Bank Product Obligations)
in respect of Bank Products then provided or outstanding.

“
Bankruptcy Code
” means title 11 of the United States Code, as in effect from time to
time.

“
Base Rate
” means
, for any day,

the greatest of (a) the
Federal Funds Rate
plus

one
-
half percent
(1⁄2%), (b) the LIBOR Rate (which rate shall be calculated based upon an Interest Period of one month and
shall be determined on a daily basis),
plus

one p
ercentage point, and (c)
Floor, (b) the Federal Funds Rate
in effect on such day
plus

1⁄2%, (c) Term SOFR for a one month tenor in effect on such day,
plus

1%,
provided that this clause (c) shall not be applicable during any period in which Term SOFR is unava
ilable
or unascertainable, and (d)

the rate of interest announced, from time to time, within Wells Fargo at its
principal office in San Francisco as its “prime rate”

in effect on such day
, with the understanding that the
“prime rate” is one of Wells Fargo’
s base rates (not necessarily the lowest of such rates) and serves as the
basis upon which effective rates of interest are calculated for those loans making reference thereto and is
evidenced by the recording thereof after its announcement in such internal

publications as Wells Fargo may
designate

(and, if any such announced rate is below zero, then the rate determined pursuant to this clause
(c) shall be deemed to be zero)
..

	
	
6

“
Base Rate Loan
” means a Revolving Loan that bears interest at a rate determined b
y reference to
the Base Rate.

“
Base Rate Margin
” means the Applicable Base Rate Margin as set forth in the definition of the
term Applicable Margin.

“Benchmark
” means, initially, Term SOFR Reference Rate; provided that if a
Benchmark
Transition Event

has

o
ccurred with respect to Term SOFR Reference Rate or

the
then
-
current Benchmark,
then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark
Replacement has replaced such prior benchmark rate pursuant to Section 2.12(d)(iii
)(A).

“Benchmark Replacement” means, with respect to any Benchmark Transition Event, the
sum of:
(
a
) the alternate benchmark rate that has been selected by Agent and Administrative Borrower

giving due
consideration to (i) any selection or recommendation
of a replacement

benchmark

rate or the mechanism
for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then
-
prevailing
market convention for determining a
benchmark
rate as a replacement for
the then
-
current Benchmark for
Do
llar
-
denominated syndicated credit facilities and (
b
) the
related

Benchmark Replacement
Adjustment
;
provided that if such Benchmark Replacement as so determined would be less than the Floor, such
Benchmark Replacement shall be deemed to be the Floor for th
e purposes of this Agreement
and the other
Loan Documents.

“Benchmark Replacement Adjustment” means, with respect to any replacement of the
then
-
current
Benchmark

with an Unadjusted Benchmark Replacement for
any

applicable
Available Tenor,

the spread
adjus
tment, or method for calculating or determining such spread adjustment, (which may be a positive or
negative value or zero) that has been selected by Agent and Administrative Borrower giving due
consideration to (a) any selection or recommendation of a spr
ead adjustment, or method for calculating or
determining such spread adjustment, for the replacement of
such Benchmark

with the applicable
Unadjusted Benchmark Replacement by the Relevant Governmental Body

or (b) any evolving or then
-
prevailing market conv
ention for determining a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of
such Benchmark

with the applicable Unadjusted Benchmark
Replacement for
Dollar
-
denominated syndicated credit facilities at s
uch time
..

“Benchmark Replacement Date” means the
earliest

to occur of the following events with respect
to the
then
-
current Benchmark
:

(a)

in the case of clause (a) or (b) of the definition of “Benchmark Transition Event,”
the later of (i) the date of the
public statement or publication of information referenced therein and (ii) the
date on which the administrator of such Benchmark (or the published component used in the calculation
thereof) permanently or indefinitely ceases to provide all Available Tenors

of such Benchmark (or such
component thereof); or

(b)

in the case of clause (c) of the definition of “Benchmark Transition Event,” the
first date on which such Benchmark (or the published component used in the calculation thereof) has been
determined and

announced by the regulatory supervisor for the administrator of such Benchmark (or such
component thereof) to be non
-
representative; provided that such non
-
representativeness will be determined
by reference to the most recent statement or publication refe
renced  in such clause
(c)

and even if any
Available Tenor of such

Benchmark
(or such component  thereof) continues to be provided on such date
..

For the avoidance of doubt, the “Benchmark Replacement Date” will be deemed to have occurred
in the case of cla
use (a) or (b) with respect to any Benchmark upon the occurrence of the applicable event

	
	
7

or events set forth therein with respect to all then
-
current Available Tenors of such Benchmark (or the
published component used in the calculation thereof).

“Benchmar
k Transition Event”

means the occurrence of one or more of the following events with
respect to the then
-
current Benchmark:

(a)

a public statement or publication of information by or on behalf of the
administrator of such Benchmark (or the published compon
ent used in the calculation thereof) announcing
that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such
component thereof), permanently or indefinitely,
provided

that, at the time of such statement or pub
lication,
there is no successor administrator that will continue to provide any Available Tenor of such Benchmark
(or such component thereof);

(b)

a public statement or publication of information by the regulatory supervisor for
the administrator of such
Benchmark (or the published component used in the calculation thereof), the
Board of Governors, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over
the administrator for such Benchmark (or such component), a resolution autho
rity with jurisdiction over
the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency
or resolution authority over the administrator for such Benchmark (or such component), which states that
the administrator
of such Benchmark (or such component) has ceased or will cease to provide all Available
Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the
time of such statement or publication, there is no successor adm
inistrator that will continue to provide any
Available Tenor of such Benchmark (or such component thereof); or

(c)

a public statement or publication of information by the regulatory supervisor for
the administrator of such Benchmark (or the published compo
nent used in the calculation thereof)
announcing that all Available Tenors of such Benchmark (or such component thereof) are not, or as of a
specified future date will not be, representative.

For the avoidance of doubt, if the then
-
current Benchmark has an
y Available Tenors, a “Benchmark
Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or
publication of information set forth above has occurred with respect to each then
-
current Available Tenor
of such Benc
hmark (or the published component used in the calculation thereof).

“Benchmark Transition Start Date” means, in the case of a Benchmark Transition Event, the earlier
of (a) the applicable Benchmark Replacement Date and (b) if such Benchmark Transition Even
t is a public
statement or publication of information of a prospective event, the 90th day prior to the expected date of
such event as of such public statement or publication of information (or if the expected date of such
prospective event is fewer than 9
0 days after such statement or publication, the date of such statement or
publication).

“Benchmark Unavailability Period” means the period (if any) (x) beginning at the time that a
Benchmark Replacement Date has occurred if, at such time, no Benchmark Repl
acement has replaced the
then
-
current Benchmark for all purposes hereunder and under any Loan Document in accordance with
Section 2.12(d)(iii) and (y) ending at the time that a Benchmark Replacement has replaced the then
-
current
Benchmark for all purposes
hereunder and under any Loan Document in accordance with Section
2.12(d)(iii).

“Beneficial Ownership Certification” means a certification regarding beneficial ownership as
required by the Beneficial Ownership Regulation.

	
	
8

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

“
BHC Act Affiliate
” of a Person means an “affiliate” (as such term is defined under, and interpreted
in accordance with, 12 U.S.C. 1841(k)) of such Person.

“
Board of Directors
” means, as to any Person, the board of directors (or

comparable managers) of
such Person, or any committee thereof duly authorized to act on behalf of the board of directors (or
comparable managers).

“
Board of Governors
” means the Board of Governors of the Federal Reserve System of the United
States (or any

successor).

“
Borrower
” and “
Borrowers
” have the respective meanings specified therefor in the preamble to
this Agreement.

“
Borrower Materials
” has the meaning specified therefor in
Section 17.9(c)

of this Agreement.

“
Borrowing
” means a borrowing consistin
g of Revolving Loans made on the same day by the
Lenders (or Agent on behalf thereof), or by Agent in the case of a Special Advance.

“
Borrowing Base
” means, as of any date of determination, the result of:

(a)

85% of the amount of Eligible Accounts, minus

(b)

the a
ggregate amount of Reserves, if any, established by Agent from time to time under
Section 2.1(c)

of this Agreement.

“
Borrowers
” has the meaning specified therefor in the preamble to this Agreement.

“
Borrowing Base Certificate
” means a certificate in the fo
rm of
Exhibit B
-
1

to this Agreement.

“
Business Day
” means any day that is not a Saturday, Sunday
,

or other day on which
banks are
authorized or required to close in the state of New York, except that, if a determination of a Business Day
shall relate to a

LIBOR Rate Loan, the term “Business Day” also shall exclude any day on which banks are
closed for dealings in Dollar deposits in the London interbank market.

the Federal Reserve Bank of New
York is closed.

“
Capital Expenditures
” means, with respect to a
ny Person for any period, the amount of all
expenditures by such Person and its Subsidiaries during such period that are capital expenditures as
determined in accordance with GAAP, whether such expenditures are paid in cash or financed, but
excluding, with
out duplication (a) with respect to the purchase price of assets that are purchased
substantially contemporaneously with the trade
-
in of existing assets during such period, the amount that the
gross amount of such purchase price is reduced by the credit gr
anted by the seller of such assets for the
assets being traded in at such time, (b) expenditures made during such period to consummate one or more
Permitted Acquisitions, (c) expenditures made during such period to the extent made with the identifiable
pro
ceeds of an equity investment in a Loan Party or any of its Subsidiaries which equity investment is made
substantially contemporaneously with the making of the expenditure, and (d) expenditures during such
period that, pursuant to a written agreement, are
reimbursed by a third Person (excluding any Loan Party
or any of its Affiliates) within one hundred eighty (180) days of the date such expenditures are made.

	
	
9

“Capital Lease” means a lease that is required to be capitalized for financial reporting purposes
in
accordance with GAAP.

“
Capitalized Lease Obligation
” means that portion of the obligations under a Capital Lease that is
required to be capitalized in accordance with GAAP.

“
Capital Lease
” means a lease that is required to be capitalized for financial
reporting purposes in
accordance with GAAP.

“
CARES Act
” means the Coronavirus Aid, Relief and Economic Security Act, H.R. 748.”

“
Cash Dominion Event
” means at any time (a) Excess Availability is less than 12.5% of the
Maximum Credit at any time, or (b) a Specified Event of Default has occurred and is continuing;
provided
,
that
, to the extent that the Cash Dominion Event has occurred due to (i) clause
(a) of this definition, if
Excess Availability shall be equal to or greater than the applicable amount provided for in clause (a) of this
definition for at least thirty (30) consecutive days thereafter, the Cash Dominion Event shall no longer be
deemed to
exist or be continuing until such time as Excess Availability may again be less than the applicable
amount provided for in clause (a) of this definition and (ii) clause (b) of this definition, if such Specified
Event of Default has been cured or waived, th
e Cash Dominion Event shall no longer be deemed to exist
or be continuing.

“
Cash Equivalents
” means (a) marketable direct obligations issued by, or unconditionally
guaranteed by, the United States or issued by any agency thereof and backed by the full fait
h and credit of
the United States, in each case maturing within one (1) year from the date of acquisition thereof, (b)
marketable direct obligations issued or fully guaranteed by any state of the United States or any political
subdivision of any such state

or any public instrumentality thereof maturing within one (1) year from the
date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable
from either Standard & Poor’s Rating Group (“
S&P
”) or Moody’s Investo
rs Service, Inc. (“
Moody’s
”), (c)
commercial paper maturing no more than two hundred seventy (270) days from the date of creation thereof
and, at the time of acquisition, having a rating of at least A
-
1 from S&P or at least P
-
1 from Moody’s, (d)
certificat
es of deposit, time deposits, overnight bank deposits or bankers’ acceptances maturing within one
(1) year from the date of acquisition thereof issued by any bank organized under the laws of the United
States or any state thereof or the District of Columbi
a or any United States branch of a foreign bank having
at the date of acquisition thereof combined capital and surplus of not less than $1,000,000,000, (e) Deposit
Accounts maintained with (i) any bank that satisfies the criteria described in clause (d) ab
ove, or (ii) any
other bank organized under the laws of the United States or any state thereof so long as the full amount
maintained with any such other bank is insured by the Federal Deposit Insurance Corporation, (f)
repurchase obligations of any commerc
ial bank satisfying the requirements of clause (d) of this definition
or of any recognized securities dealer having combined capital and surplus of not less than $1,000,000,000,
having a term of not more than seven days, with respect to securities satisfyi
ng the criteria in clauses (a) or
(d) above, (g) debt securities with maturities of six (6) months or less from the date of acquisition backed
by standby letters of credit issued by any commercial bank satisfying the criteria described in clause (d)
above,

and (h) Investments in money market funds substantially all of whose assets are invested in the types
of assets described in clauses (a) through (g) above.

“
Cash Management Services
” means any cash management or related services including treasury,
deposi
tory, return items, overdraft, controlled disbursement, merchant store value cards, e
-
payables
services, electronic funds transfer, interstate depository network, automatic clearing house transfer
(including the Automated Clearing House processing of elect
ronic funds transfers through the direct Federal
Reserve Fedline system) and other cash management arrangements.

	
	
10

“
Certain Funds Provision
” has the meaning specified therefor on
Schedule 3.1
..

“
CFC
”
means (a) a controlled foreign corporation (as that term is

defined in the IRC) in which any
Loan Party is a “United States shareholder” within the meaning of Section 951(b) of the IRC or (b) any
Subsidiary all or substantially all of the assets of which consist, directly or indirectly, of Equity Interests of
Subs
idiaries described in clause (a) of this definition.

“Change in Law” means the occurrence after the date of this Agreement of:  (a) the adoption or
effectiveness of any law, rule, regulation, judicial ruling, judgment or treaty, (b) any change in any law,
rule, regulation, judicial ruling, judgment or treaty or in the administration, interpretation, implementation
or application by any Governmental Authority of any law, rule, regulation, guideline or treaty, (c) any new,
or adjustment to, requirements presc
ribed by the Board of Governors for “Eurocurrency Liabilities” (as
defined in Regulation D of the Board of Governors), requirements imposed by the Federal Deposit
Insurance Corporation, or similar requirements imposed by any domestic or foreign governmenta
l authority
or resulting from compliance by Agent or any Lender with any request or directive (whether or not having
the force of law) from any central bank or other Governmental Authority and related in any manner to
SOFR, Term SOFR Reference Rate or Term

SOFR, or (d) the making or issuance by any Governmental
Authority of any request, rule, guideline or directive, whether or not having the force of law; provided, that
notwithstanding anything in this Agreement to the contrary, (i) the Dodd
-
Frank Wall Stre
et Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection
therewith, and (ii) all requests, rules, guidelines or directives concerning capital adequacy promulgated by
the Bank for Internation
al Settlements, the Basel Committee on Banking Supervision (or any successor or
similar authority) or the United States or foreign regulatory authorities shall, in each case, be deemed to be
a “Change in Law,” regardless of the date enacted, adopted or iss
ued.

“
Change of Control
” means that:

(a)

any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries,
and any person or entity ac
ting in its capacity as trustee, agent or other fiduciary or administrator of any
such plan), other than the Permitted Holders, becomes the “beneficial owner” (as defined in Rules 13d
-
3
and 13d
-
5 under the Securities Exchange Act of 1934, except that a per
son or group shall be deemed to
have “beneficial ownership” of all securities that such person or group has the right to acquire, whether
such right is exercisable immediately or only after the passage of time (such right, an “
option right
”)),
directly or
indirectly, of more than a majority of the equity securities of Parent entitled to vote for members
of the board of directors or equivalent governing body of Parent on a fully
-
diluted basis (and taking into
account all such securities that such person or g
roup has the right to acquire pursuant to any option right);

(b)

the passage of thirty (30) days from the date upon which any Person or two or more
Persons acting in concert, other than the Permitted Holders, shall have acquired by contract or otherwise,
or sh
all have entered into a contract or arrangement that, upon consummation thereof, will result in its or
their acquisition of the power to exercise, directly or indirectly, a controlling influence over the management
or policies of Parent, or control over th
e equity securities of Parent entitled to vote for members of the board
of directors or equivalent governing body of Parent on a fully
-
diluted basis (and taking into account all such
securities that such Person or group has the right to acquire pursuant to

any option right) representing more
than a majority of the combined voting power of such securities;

(c)

during any period of twelve (12) consecutive months, a majority of the members
of the board of directors or other equivalent governing body of Parent ceas
e to be composed of individuals
(i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose
election or nomination to that board or equivalent governing body was approved by individuals referred to

	
	
11

in clause
(i) above constituting at the time of such election or nomination at least a majority of that board
or equivalent governing body or (iii) whose election or nomination to that board or other equivalent
governing body was approved by individuals referred to
in clauses (i) and (ii) above constituting at the time
of such election or nomination at least a majority of that board or equivalent governing body

(d)

Parent fails to own and control, directly or indirectly, 100% of the Equity Interests
of any other Loan Par
ty, other than pursuant to transactions permitted under
Section

6.3
, or

(e)

the occurrence of any “Change of Control” (or comparable term) as defined in the
2026 Notes Indenture.

“
Change in Law
” means the occurrence after the date of this Agreement of:  (a)
the adoption or
effectiveness of any law, rule, regulation, judicial ruling, judgment or treaty, (b) any change in any law,
rule, regulation, judicial ruling, judgment or treaty or in the administration, interpretation, implementation
or application by any

Governmental Authority of any law, rule, regulation, guideline or treaty, or (c) the
making or issuance by any Governmental Authority of any request, rule, guideline or directive, whether or
not having the force of law; provided, that notwithstanding anyt
hing in this Agreement to the contrary, (i)
the Dodd
-
Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or
directives thereunder or issued in connection therewith, and (ii) all requests, rules, guidelines or directives

concerning capital adequacy promulgated by the Bank for International Settlements, the Basel Committee
on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory
authorities shall, in each case, be deemed to
be a “
Change in Law
,” regardless of the date enacted, adopted
or issued.

“
Closing Date
” means the date of the making of the initial Revolving Loan (or other extension of
credit) under this Agreement.

“
Closing Date Merger
” means the merger of Merger Sub
with and into Target with Target as the
surviving entity so that, immediately after giving effect thereto, Target will be a wholly
-
owned Subsidiary
of Parent.

“
Closing Date Merger Agreement
” means the Agreement and Plan of Merger, dated as of July 18,
2018
, by and among Parent, Merger Sub, Target and the Members’ Representative
(as defined in the
Closing Date Merger Agreement)
party thereto.

“
Closing Date Merger Agreement Representations
” means those representations and warranties
made by or on behalf of T
arget, its Subsidiaries or their respective businesses in the Closing Date Merger
Agreement as are material to the interests of Lenders, but only to the extent that Merger Sub (or any of its
applicable Affiliates) has the right to terminate its (or their)
obligations under the Closing Date Merger
Agreement or decline to consummate the Closing Date Merger as a result of the breach of such
representations and warranties.

“
Closing Date Merger Documents
” means the Closing Date Merger Agreement and all other
doc
uments related thereto and executed in connection therewith.

“
Collateral
” means all assets and interests in assets and proceeds thereof now owned or hereafter
acquired by any Loan Party in or upon which a Lien is granted by such Person in favor of Agent or

Lenders
under any of the Loan Documents; provided, that the definition of “Collateral” shall not include any
Excluded Collateral.

	
	
12

“
Collateral Access Agreement
” means a landlord waiver, bailee letter, or acknowledgement
agreement of any lessor, warehousema
n, processor, consignee, or other Person in possession of, having a
Lien upon, or having rights or interests in any Loan Party’s books and records or Equipment, in each case,
in form and substance reasonably satisfactory to Agent.

“
Collateral Documents
” me
ans, collectively, each of the security agreements or other similar
agreements delivered to Agent pursuant to the terms of this Agreement, and each of the other agreements,
instruments or documents that creates or purports to create a Lien in favor of Agen
t, including the Guaranty
and Security Agreement.

“
Collections
” means all cash, checks, notes, instruments, and other items of payment (including
insurance proceeds, cash proceeds of asset sales, rental proceeds and tax refunds).

“
Commitment
” means, with respect to each Lender, its Commitment, and with respect to all
Lenders, their Commitments, in each case as such Dollar amounts are set forth beside such Lender’s name
under the applicable heading on
Schedule C
-
1

or in the Assignment and Acce
ptance pursuant to which such
Lender became a Lender under this Agreement, as such amounts may be reduced or increased from time to
time in accordance with the terms of this Agreement.

“
Commodity Exchange Act
” means the Commodity Exchange Act (7 U.S.C. § 1

et seq.), as
amended from time to time, and any successor statute.

“
Company Material Adverse Effect
” has the meaning specified therefor in the Closing Date Merger
Agreement (as in effect on July 18, 2018).

“
Compliance Certificate
” means a certificate subs
tantially in the form of
Exhibit C
-
1

delivered by
the chief financial officer of Lead Borrower to Agent.

“Confidential Information” has the meaning specified therefor in Section 17.9(a) of this
Agreement.

“Conforming Changes” means, with respect to either
the use or administration of Term SOFR or
the use, administration, adoption or implementation of any Benchmark Replacement, any technical,
administrative or operational changes (including changes to the definition of “Base Rate,” the definition of
“Busines
s Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest
Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and
frequency of determining rates and making paymen
ts of interest, timing of borrowing requests or
prepayment, conversion or continuation notices, the applicability and length of lookback periods, the
applicability of Section 2.12(b)(ii) and other technical, administrative or operational matters) that Agen
t
decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use
and administration thereof by Agent in a manner substantially consistent with market practice (or, if Agent
decides that adoption of any portion o
f such market practice is not administratively feasible or if Agent
determines that no market practice for the administration of any such rate exists, in such other manner of
administration as

Agent decides is reasonably necessary in connection with the ad
ministration of this
Agreement and the other Loan Documents).

“
Consolidated
” means, when used to modify a financial term, test, statement, or report of a Person,
the application or preparation of such term, test, statement or report (as applicable) based
upon the
consolidation, in accordance with GAAP, of the financial condition or operating results of such Person and
its Subsidiaries;
provided
, that when the term “Consolidated” is used herein in reference to the Borrowers

	
	
13

and their Subsidiaries, the term
“Consolidated” shall mean Parent and its Subsidiaries on a consolidated
basis, with such consolidated numbers then determined on a combined basis, all in accordance with GAAP.

“
Consolidated Interest Charges
” means, for any period, the sum of (a) all intere
st, premium
payments, debt discount, fees, charges and related expenses in connection with borrowed money (including
capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent
treated as interest in accord
ance with GAAP, including, without limitation, all commissions, discounts and
other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs
under Hedge Agreements or agreements governing hedging obligations,
but excluding any non
-
cash or
deferred interest
plus

(b) the portion of rent expense with respect to such period under Capitalized Lease
Obligations that is treated as interest in accordance with GAAP, in each case of or by the Borrowers and
their Subsidia
ries, all as determined on a Consolidated basis in accordance with GAAP.

“
Copyright Security Agreement
” has the meaning specified therefor in the Guaranty and Security
Agreement.

“
Confidential Information
” has the meaning specified therefor in
Section17.9(a)

of this Agreement.

“
Consolidated Net Income
” means, for any period, the aggregate of the net income (or loss) of the
Borrowers and their Subsidiaries for such period, determined on a Consolidated basis in accordance with
GAAP; provided, howe
ver, that:

(a)

any net after
-
tax extraordinary, nonrecurring or unusual gains or non
-
cash losses
shall be excluded;

(b)

the Consolidated Net Income for such period shall not include the cumulative
effect of a change in accounting principles during such pe
riod;

(c)

any net after
-
tax gains or losses (less all fees and expenses or charges relating
thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of
business (as determined in good faith by ICD) shall be exc
luded;

(d)

any net after
-
tax gains or losses (less all fees and expenses or charges relating
thereto) attributable to the early extinguishment of indebtedness shall be excluded;

(e)

the Consolidated Net Income for such period of any Person that is not a S
ubsidiary
of such Person or that is accounted for by the equity method of accounting, shall be included only to the
extent of the amount of dividends or distributions or other payments paid in cash (or to the extent converted
into cash) to the referent Per
son or a Subsidiary thereof in respect of such period;

(f)

(1) the non
-
cash portion of “straight
-
line” rent expense shall be excluded and (2)
the cash portion of “straight
-
line” rent expense which exceeds the amount expensed in respect of such rent
expense

shall be included;

(g)

unrealized gains and losses relating to hedging transactions and mark
-
to
-
market
of Indebtedness denominated in foreign currencies resulting from the application of ASC 830 shall be
excluded;

(h)

the income (or loss) of any non
-
con
solidated entity during such period in which
any other Person has a joint interest shall be excluded, except to the extent of the amount of cash dividends
or other distributions actually paid in cash to any of ICD or its Subsidiaries during such period; an
d

	
	
14

(i)

the income (or loss) of a Subsidiary (or any asset given pro forma treatment) during
such period and accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with
ICD or any of its Subsidiaries or that Person’s assets are a
cquired by ICD or any of its Subsidiaries shall be
excluded.

“
Consolidated Non
-
cash Charges
” means, with respect to the Parent and its Subsidiaries for any
period, the aggregate depreciation, amortization, impairment, compensation, rent and other non
-
cash
expenses of the Parent and its Subsidiaries reducing Consolidated Net Income of such Person for such
period on a Consolidated basis and otherwise determined in accordance with GAAP (including non
-
cash
charges resulting from purchase accounting in connectio
n with any Acquisition or Disposition that is
consummated after the Closing Date), but excluding (a) any such charge which consists of or requires an
accrual of, or cash reserve for, anticipated cash charges for any future period and (b) the non
-
cash impac
t
of recording the change in fair value of any embedded derivatives under ASC 815 and related interpretations
as a result of the terms of any agreement or instrument to which such Consolidated Non
-
cash Charges relate.

“
Consolidated Taxes
” means, with resp
ect to the Parent and its Subsidiaries on a Consolidated basis
for any period, provision for taxes based on income, profits or capital, including, without limitation, state
franchise and similar taxes.

“
Contribution and Exchange Agreement
” has the meaning
specified in the definition of Conversion
and Release.

“
Control Agreement
” means any control agreement, in form and substance reasonably satisfactory
to Agent, executed and delivered by any Loan Party, Agent, and the applicable securities intermediary (wit
h
respect to a Securities Account) or bank (with respect to a Deposit Account) or its equivalent in any
jurisdiction.

“
Conversion and Release
” means that the Parent, the Target, the holders of indebtedness under the
Existing First Lien Note Purchase Agree
ment, the holder of indebtedness under the Existing Second Lien
Note Purchase Agreement and others will enter into a Contribution and Exchange Agreement on terms
reasonably acceptable to Agent (the “Contribution and Exchange Agreement”), pursuant to which
all such
indebtedness will be satisfied and discharged, the Existing First Lien Note Purchase Agreement and the
Existing Second Lien Note Purchase Agreement will be terminated, and all liens securing obligations under
or in connection with the Existing Fir
st Lien Note Purchase Agreement and the Existing Second Lien Note
Purchase Agreement will be terminated and released.

“Copyright Security Agreement” has the meaning specified therefor in the Guaranty and Security
Agreement.

“
Covenant Testing Period
” means
a period (a) commencing on the last day of the fiscal month of
Loan Parties most recently ended prior to a Covenant Trigger Event for which Loan Parties are required to
deliver to Agent monthly financial statements pursuant to
Schedule 5.1

to this Agreemen
t, and
(b)

continuing through and including the first day after such Covenant Trigger Event that Excess
Availability has equaled or exceeded 10% of the Maximum Credit for 30 consecutive calendar days.

“
Covenant Trigger Event
” means if at any time Excess Av
ailability is less than 10% of the
Maximum Credit.

“
Covered Entity
” means any of the following:

	
	
15

(a)

a “covered entity” as that term is defined in, and interpreted in accordance with,
12 C.F.R. § 252.82(b);

(b)

a “covered bank” as that term is defined in,
and interpreted in accordance with,
12 C.F.R. § 47.3(b); or

(c)

a “covered FSI” as that term is defined in, and interpreted in accordance with, 12
C.F.R. § 382.2(b).

“
Covered Party
” has the meaning specified therefor in
Section 17.20

of this Agreement.

“
C
overed Period
” means the eight (8) week period beginning on the date of the origination of the
PPP Loan.
”

“
Cure Amount
” has the meaning specified therefor in
Section 7.2(a)

of the Agreement.

“
Cure Right
” has the meaning specified therefor in
Section 7.2(a)

of the Agreement.

“
Daily Balance
” means, as of any date of determination and with respect to any Obligation, the
amount of such Obligation owed at the end of such day.

“
Default
” means an event, condition, or default that, with the giving of notice, the pa
ssage of time,
or both, would be an Event of Default.

“
Default Right
” has the meaning assigned to that term in, and shall be interpreted in accordance
with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

“
Defaulting Lender
” means any Lender that (a) h
as failed to (i) fund all or any portion of its Loans
within two (2) Business Days of the date such Loans were required to be funded hereunder unless such
Lender notifies Agent and Lead Borrower in writing that such failure is the result of such Lender’s
d
etermination that one or more conditions precedent to funding (each of which conditions precedent,
together with any applicable Default or Event of Default, shall be specifically identified in such writing)
has not been satisfied, or (ii) pay to Agent, Iss
uing Bank, or any other Lender any other amount required to
be paid by it hereunder (including in respect of its participation in Letters of Credit) within two (2) Business
Days of the date when due, (b) has notified any Borrower, Agent or Issuing Bank in
writing that it does not
intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless
such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states
that such posit
ion is based on such Lender’s determination that a condition precedent to funding (which
condition precedent, together with any applicable Default or Event of Default, shall be specifically
identified in such writing or public statement) cannot be satisfie
d), (c) has failed, within three (3) Business
Days after written request by Agent or Lead Borrower, to confirm in writing to Agent and Lead Borrower
that it will comply with its prospective funding obligations hereunder (
provided
,
that
, such Lender shall
c
ease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by
Agent and Lead Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the
subject of any Insolvency Proceeding, (ii) had

appointed for it a receiver, custodian, conservator, trustee,
administrator, assignee for the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or assets, including the Federal Deposit Insurance Corporation
or any other state
or federal regulatory authority acting in such a capacity, or (iii) become the subject of a Bail
-
in Action;
provided
,
that
, a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition
of any equity interest

in that Lender or any direct or indirect parent company thereof by a Governmental
Authority so long as such ownership interest does not result in or provide such Lender with immunity from

	
	
16

the jurisdiction of courts within the United States or from the enf
orcement of judgments or writs of
attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
disavow or disaffirm any contracts or agreements made with such Lender.  Any determination by Agent
that a Lender is a D
efaulting Lender under any one or more of clauses (a) through (d) above shall be
conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender
upon delivery of written notice of such determination to Lead Borrower,

Issuing Bank, and each Lender.

“
Defaulting Lender Rate
” means (a) for the first three (3) days from and after the date the relevant
payment is due, the Base Rate, and (b) thereafter, the interest rate then applicable to Revolving Loans that
are Base Rate
Loans (inclusive of the Base Rate Margin applicable thereto).

“
Deposit Account
” means (a) any deposit account (as that term is defined in the UCC), and (b) with
respect to any Deposit Account located outside of the United States, any bank account with a de
posit
function.

“
Designated Account
” means the Deposit Account of Lead Borrower identified on
Schedule D
-
1

to this Agreement (or such other Deposit Account of Lead Borrower located at Designated Account Bank
that has been designated as such, in writing, by

Lead Borrower to Agent).

“
Designated Account Bank
” has the meaning specified therefor in
Schedule D
-
1

to this Agreement
(or such other bank that is located within the United States that has been designated as such, in writing, by
Lead Borrower to Agent).

“
Dilution
” means, as of any date of determination, a percentage, based upon the experience of the
immediately prior three (3) months, that is the result of dividing the Dollar amount of (a) bad debt write
-
downs, discounts, advertising allowances, credits,

or other dilutive items with respect to Borrowers’
Accounts during such period, by (b) Borrowers’ billings with respect to Accounts during such period.

“
Dilution Reserve
” means, as of any date of determination, an amount sufficient to reduce the
advance
rate against Eligible Accounts by the extent to which Dilution is in excess of 5%.

“
Disposition
” or “
Dispose
” means the sale, transfer, assignment, exclusive license, lease or other
disposition (including any sale and leaseback transaction) (whether in one

transaction or in a series of
transactions) of any property by any Person, including (a) any sale, assignment, transfer or other disposal,
with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith
and (b)
any sale, transfer, assignment, or other disposition of any Equity Interests of another Person, but,
for the avoidance of doubt, not the issuance by such Person of its Equity Interests.

“
Disqualified Equity Interests
” means any Equity Interests that, by
their terms (or by the terms of
any security or other Equity Interests into which they are convertible or for which they are exchangeable),
or upon the happening of any event or condition (a) matures or are mandatorily redeemable (other than
solely for Qua
lified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result
of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a
change of control or asset sale event shall be subje
ct to the prior repayment in full of the Loans and all other
Obligations that are accrued and payable and the termination of the Commitments), (b) are redeemable at
the option of the holder thereof (other than solely for Qualified Equity Interests), in who
le or in part, (c)
provide for the scheduled payments of dividends in cash, or (d) are or become convertible into or
exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity
Interests, in each case, prior to the

date that is 180 days after the Maturity Date.

	
	
17

“
Disqualified Lender
” means (a) those banks, financial institutions and other institutional lenders
and investors that have been separately identified in writing by Parent to Agent by email transmission on
Se
ptember 24, 2018, (b) those companies that are competitors of a Loan Party that are separately identified
in writing by Administrative Borrower to Agent by email transmission on September 24, 2018 and, with
the reasonable consent of Agent, from time to tim
e, after the Closing Date, and (c)

in the case of each of
clauses (a)

and
(b)
, any of their Affiliates that are identified in writing by Administrative Borrower to Agent
by email transmission on September 24, 2018 and, with the reasonable consent of Agent,

from time to time,
after the Closing Date. The identification of any Person as a Disqualified Lender after the date hereof shall
be effective only as of the time of such identification and any such identification shall have no retroactive
effect of any ki
nd, including to disqualify any Person that theretofore shall have become a Lender.
Notwithstanding the foregoing, each Loan Party and the Lenders acknowledge and agree that Agent will
not have any responsibility or obligation of any kind to determine whe
ther any Lender or potential Lender
is a Disqualified Lender and Agent will have no liability with respect to any assignment made to a
Disqualified Lender.  Parent shall confirm, upon the written request of Agent or any Lender, whether a
particular Person
is a Disqualified Lender.

“
Dollars
” or “$” means United States dollars.

“
Document
” means a document (as that term is defined in the UCC).

“Dollars” or “$” means United States dollars.

“
Domestic Subsidiary
” means any Subsidiary of Parent that is organized u
nder the laws of any
political subdivision of the United States.

“
DQ List
” has the meaning specified therefor in
Section 13.1(i)
..

“
Drawing Document
” means any Letter of Credit or other document presented for purposes of
drawing under any Letter of Credit,
including by electronic transmission such as SWIFT, electronic mail,
facsimile or computer
-
generated communication.

“
Earn
-
Outs
” means unsecured liabilities of a Loan Party arising under an agreement to make any
deferred payment as a part of the Purchase Pr
ice for a Permitted Acquisition, including performance
bonuses or consulting payments in any related services, employment or similar agreement, in an amount
that is subject to or contingent upon the revenues, income, cash flow or profits (or the like) of t
he target of
such Permitted Acquisition.

“
E
BITDA
” means, with respect to any fiscal period and with respect to Parent and its Subsidiaries
determined, in each case, on a consolidated basis in accordance with GAAP:

(a)

Consolidated Net Income,
plus

(b)

with
out duplication and to the extent deducted in determining such Consolidated Net
Income for such period (other than with respect to clause (ix) below), each of the following items:

(i)

income tax expense, net of tax refunds,

(ii)

Consolidated Interest Charg
es,

(iii)

Consolidated Non
-
cash Charges,

	
	
18

(iv)

the amount of costs, expenses and fees paid to third parties during such period in
connection with the transactions contemplated hereby to occur on the Closing Date and
post
-
closing matters related thereto in
an aggregate amount, during the term of this
Agreement, not to exceed $13,500,000,

(v)

any premiums, expenses or charges (other than Consolidated Non
-
cash Charges)
related to any issuance or sale of Equity Interests, Investment, Acquisition, Disposition or

recapitalization permitted to be made hereunder (whether consummated or not),

(vi)

any non
-
cash costs or expense incurred pursuant to any management equity plan
or stock option plan or other management or employee benefit plan or agreement or any
stock su
bscription or shareholder agreement,

(vii)

the amount of any minority interest expense consisting of income of a Subsidiary
attributable to minority equity interests of third parties in any non
-
wholly owned
Subsidiary, net of any cash distributions made to

such third parties in such period,

(viii)

any net after
-
tax extraordinary, nonrecurring or unusual losses (including cash
severance costs); provided that, solely with respect to cash losses added back pursuant to
this clause (viii), Borrowers shall delive
r to the Lenders supporting documentation
reasonably satisfactory to the Required Lenders in respect of such cash losses,

(ix)

proceeds of business interruption insurance received in cash during such period, to
the extent not already included in Consolidat
ed Net Income, and

(x)

charges, losses or expenses to the extent indemnified, insured or reimbursed by a
third party not an affiliate of a Loan Party to the extent such indemnification, insurance or
reimbursement is actually received in cash for such perio
d,
minus

(c)

without duplication, (i) any net after
-
tax extraordinary, non
-
recurring or unusual gains and
any non
-
cash income or gain increasing Consolidated Net Income for such period, excluding any such items
to the extent they represent (1) the reversal in
such period of an accrual of, or reserve for, potential cash
expense in a prior period, (2) any non
-
cash gains with respect to cash actually received in a prior period to
the extent such cash did not increase Consolidated Net Income in a prior period or (3
) items representing
ordinary course accruals of cash to be received in future periods;
plus

(ii) any net gain from discontinued
operations or net gains from the disposal of discontinued operations to the extent increasing Consolidated
Net Income.

For the
purposes of calculating EBITDA for any period of twelve consecutive months (each, a
“
Reference Period
”), if at any time during such Reference Period (and on or after the Closing Date), any
Loan Party or any of its Subsidiaries shall have made a Permitted A
cquisition or a Disposition permitted
hereunder, EBITDA for such Reference Period shall be calculated after giving pro forma effect thereto as
if any such Permitted Acquisition or Disposition (and any increase or decrease in the component financial
definit
ions used in the calculation of EBITDA attributable to any Permitted Acquisition or Disposition)
occurred on the first day of such Reference Period.

“
EEA Financial Institution
” means (a) any credit institution or investment firm established in any
EEA Memb
er Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity
established in an EEA Member Country which is a parent of an institution described in clause (a) of this
definition, or (c) any financial institution established
in an EEA Member Country which is a subsidiary of

	
	
19

an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with
its parent.

“
EEA Member Country
” means any of the member states of the European Union, Icela
nd,
Liechtenstein and Norway.

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

“
Eligible Accounts
” means those Accounts created by a Borrower in the ordinary course of its
business, that arise out of such Borrower’s rendition of services, that comply with each of the
representations and warranties respect
ing Eligible Accounts made in the Loan Documents, and that are not
excluded as ineligible by virtue of one or more of the excluding criteria set forth below;
provided
, that such
criteria may be revised from time to time by Agent in Agent’s Permitted Discre
tion to address the results
of any information with respect to the Borrowers’ business or assets of which Agent becomes aware after
the Closing Date, including any field examination performed by or received by Agent from time to time
after the Closing Date
..  In determining the amount to be included, Eligible Accounts shall be calculated net
of customer deposits, unapplied cash, taxes, finance charges, service charges, discounts, credits,
allowances, and rebates.  Eligible Accounts shall not include the foll
owing:

(a)

(i) Accounts that the Account Debtor has failed to pay within 60 days of due date not to
exceed 90 days of invoice date and (ii) up to $500,000 of Accounts that the Account Debtor has failed to
pay within 60 days of the due date not to exceed 120 da
ys of invoice date,

(b)

Accounts owed by an Account Debtor (or its Affiliates) where 50% or more of all Accounts
owed by that Account Debtor (or its Affiliates) are deemed ineligible under clause (a) above,

(c)

Accounts with selling terms of more than 90 days,

(d)

Acc
ounts with respect to which the Account Debtor is an Affiliate of any Borrower or an
employee or agent of any Borrower or any Affiliate of any Borrower,

(e)

Accounts (i) arising in a transaction wherein goods are placed on consignment or are sold
pursuant to a

guaranteed sale, a sale or return, a sale on approval, a bill and hold, or any other terms by
reason of which the payment by the Account Debtor may be conditional, or (ii) with respect to which the
payment terms are “C.O.D.”, cash on delivery or other sim
ilar terms,

(f)

Accounts that are not payable in Dollars,

(g)

Accounts with respect to which the Account Debtor either (i) does not maintain its chief
executive office in the United States or Canada, or (ii) is not organized under the laws of the United States
or
Canada or any state or province thereof, or (iii) is the government of any foreign country or sovereign
state, or of any state, province, municipality, or other political subdivision thereof, or of any department,
agency, public corporation, or other instr
umentality thereof, unless (A) the Account is supported by an
irrevocable letter of credit reasonably satisfactory to Agent (as to form, substance, and issuer or domestic
confirming bank) that has been delivered to Agent and, if requested by Agent, is dire
ctly drawable by Agent,
or (B) the Account is covered by credit insurance in form, substance, and amount, and by an insurer,
reasonably satisfactory to Agent,

	
	
20

(h)

Accounts with respect to which the Account Debtor is either (i) the United States or any
departme
nt, agency, or instrumentality of the United States (exclusive, however, of Accounts with respect
to which Borrowers have complied, to the reasonable satisfaction of Lender, with the Assignment of Claims
Act, 31 USC §3727), or (ii) any state of the United
States or any other Governmental Authority,

(i)

Accounts with respect to which the Account Debtor is a creditor of a Borrower, has or has
asserted a right of recoupment or setoff, or has disputed its obligation to pay all or any portion of the
Account, solely
to the extent of such claim, right of recoupment or setoff, or dispute,

(j)

(1) Accounts with respect to an Account Debtor (other than as set forth in clause (j)(2)
below) whose Eligible Accounts owing to Borrowers exceed 15% (such percentage, as applied to a
particular Account Debtor, being subject to reduction by Agent in its Permitted Discretion if the
creditworthiness of such Account Debtor deteriorates) of all Eligible Accounts, solely to the extent of the
obligations owing by such Account Debtor in excess

of such percentage and (2) Accounts with respect to
Paloma Resources and any other Account Debtor approved by Agent in writing after the
Third
Amendment
No. 4
Effective Date, whose Eligible Accounts owing to Borrowers exceed 25% (such percentage, as
appli
ed to such Account Debtor, being subject to reduction by Agent in its Permitted Discretion if the
creditworthiness of such Account Debtor deteriorates) of all Eligible Accounts, solely to the extent of the
obligations owing by such Account Debtor in excess

of such percentage; provided, that in each case, the
amount of Eligible Accounts that are excluded because they exceed the foregoing percentage shall be
determined by Agent based on all of the otherwise Eligible Accounts prior to giving effect to any
elim
inations based upon the foregoing concentration limit,

(k)

Accounts with respect to which the Account Debtor is subject to an Insolvency Proceeding,
is not Solvent, has gone out of business, or as to which any Borrower has received notice of an imminent
Insolv
ency Proceeding or a material impairment of the financial condition of such Account Debtor,

(l)

Accounts, the collection of which, Agent, in its Permitted Discretion, believes to be
doubtful, including by reason of the Account Debtor’s financial condition,

(m)

Acc
ounts that are not subject to a valid and perfected first priority Agent’s Lien,

(n)

Accounts (i) with respect to unearned or deferred revenue for which services have not yet
been completed or (ii) with respect to which the services giving rise to such Account

have not been
performed and billed to the Account Debtor,

(o)

Accounts with respect to which the Account Debtor is a Sanctioned Person or Sanctioned
Entity,

(p)

Accounts (i) that represent the right to receive progress payments or other advance billings
that are
due prior to the completion of performance by the applicable Borrower of the subject contract for
goods or services, or (ii) that represent credit card sales,

(q)

Accounts owned by a target acquired in connection with a Permitted Acquisition, or a
Person that
is joined to this Agreement as a Borrower pursuant to the provisions of this Agreement or
Accounts owned by Parent, in each case, until the completion of a field examination with respect to such
Accounts, the results of which are, in each case, satisfactor
y to Agent in its Permitted Discretion; or

(r)

Accounts arising out of the sale of any Goods.

	
	
21

“
Eligible Transferee
” means (a) a commercial bank organized under the laws of the United States,
or any state thereof, and having total assets in excess of $1,000,000
,000, (b) a commercial bank organized
under the laws of any other country which is a member of the Organization for Economic Cooperation and
Development or a political subdivision of any such country and which has total assets in excess of
$1,000,000,000,
provided that such bank is acting through a branch or agency located in the United States,
(c) a finance company, insurance company, or other financial institution or fund that is engaged in making,
purchasing, or otherwise investing in commercial loans in

the ordinary course of its business and having
(together with its Affiliates) total assets in excess of $1,000,000,000, (d) any Affiliate (other than
individuals) of a pre
-
existing Lender, (e) so long as no Event of Default has occurred and is continuing,

any
other Person approved by Agent and Borrower (such approval by Borrower not to be unreasonably
withheld, conditioned or delayed), and (f) during the continuation of an Event of Default, any other Person
approved by Agent;
provided
,
that
, no Disqualifie
d Lender shall qualify as an Eligible Transferee.

“
Environmental Action
” means any written complaint, summons, citation, notice, directive, order,
claim, litigation, investigation, judicial or administrative proceeding, judgment, letter, or other written
communication from any Governmental Authority, or any third party involving violations of Environmental
Laws or releases of Hazardous Materials (a) from any assets, properties, or businesses of any Loan Party,
or any of their predecessors in interest, (b)
from adjoining properties or businesses, or (c) from or onto any
facilities which received Hazardous Materials generated by any Loan Party, or any of their predecessors in
interest.

“
Environmental Law
” means any applicable federal, state, provincial,
foreign or local statute, law,
rule, regulation, ordinance, code, binding and enforceable guideline, binding and enforceable written
policy, or rule of common law now or hereafter in effect and in each case as amended, or any judicial or
administrative int
erpretation thereof, including any judicial or administrative order, consent decree or
judgment, in each case, to the extent binding on any Loan Party, relating to the environment, the effect of
the environment on employee health, or Hazardous Materials, i
n each case as amended from time to time.

“
Environmental Liabilities
” means all liabilities, monetary obligations, losses, damages, costs and
expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants,
and costs

of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result
of any claim or demand, or Remedial Action required, by any Governmental Authority or any third party,
and which relate to any Environmental Action.

“
Environmental Lien
” means any Lien in favor of any Governmental Authority for Environmental
Liabilities.

“
Equipment
” means equipment (as that term is defined in the UCC).

“
Equity Interests
” means, with respect to a Person, all of the shares, options, warr
ants, interests,
participations, or other equivalents (regardless of how designated) of or in such Person, whether voting or
nonvoting, including capital stock (or other ownership or profit interests or units), preferred stock, or any
other “equity securit
y” (as such term is defined in Rule 3a11
-
1 of the General Rules and Regulations
promulgated by the SEC under the Exchange Act).

“
ERISA
” means the Employee Retirement Income Security Act of 1974, as amended, and any
successor statute thereto.

“
ERISA Affilia
te
” means (a) any Person subject to ERISA that is treated as a single employer with
any Loan Party or its Subsidiaries under IRC Section 414(b), (b) any trade or business subject to ERISA
that is treated as  a single employer with any Loan Party or its Sub
sidiaries under IRC Section 414(c), (c)

	
	
22

solely for purposes of Section 302 of ERISA and Section 412 of the IRC, any organization subject to ERISA
that is a member of an affiliated service group of which any Loan Party or any of its Subsidiaries is a
member

under IRC Section 414(m), or (d) solely for purposes of Section 302 of ERISA and Section 412 of
the IRC, any Person subject to ERISA that is treated as a single employer  with any Loan Party or its
Subsidiaries under IRC Section 414(o).

“
ERISA Event
” mean
s (a)
any Reportable Event as defined in Section 4043(c) of ERISA or the
regulations issued thereunder with respect to a Pension Plan, other than those events as to which the 30
-
day
notice period has been waived
; (b) a withdrawal by a Loan Party or any ERI
SA Affiliate from a Pension
Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined
in Section 4001(a)(2) of ERISA) or a cessation of operations by any Loan Party or any ERISA Affiliate
that is treated as

such a withdrawal from a Pension Plan under Section 4062(e) of ERISA; (c) a complete
or partial withdrawal by a Loan Party or any ERISA Affiliate from a Multiemployer Plan; (d) the filing of
a notice of intent to terminate any Pension Plan, other than in
a standard termination pursuant to Section
4041(b) of ERISA, or the treatment of a Multiemployer Plan amendment as a termination under Section
4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or
Multiemployer Plan;

(e) an event or condition which constitutes grounds under Section 4042 of ERISA for
the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan;
(f) with respect to a Pension Plan, the failure to satisfy the m
inimum funding standard of IRC Section 412
or Section 302 of ERISA, whether or not waived; (g) the failure of any Loan Party or any ERISA Affiliate
to make any required contribution to a Multiemployer Plan; (h) the imposition of any liability under Title
I
V of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon
a Loan Party or any ERISA Affiliate; or (i) the imposition of a Lien upon the property or any Loan Party
or any ERISA Affiliate pursuant to the IRC or ERISA w
ith respect to any Pension Plan, including pursuant
to Section 430(k) of the IRC.

“Erroneous Payment” has the meaning specified therefor in Section 17.21 of this Agreement.

“Erroneous Payment Deficiency Assignment” has the meaning specified therefor in Sec
tion 17.21
of this Agreement.

“Erroneous Payment Impacted Loans” has the meaning specified therefor in Section 17.21 of this
Agreement.

“Erroneous Payment Return Deficiency” has the meaning specified therefor in Section 17.21 of
this Agreement.

“
EU Bail
-
In

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

“
Event of Default
” has the meaning specified therefor in
Article 8

of this Agreement.

“
Exce
ss Availability
” means at any time, the amount equal to (a) the lesser of the Borrowing Base
or the Maximum Credit minus (b) the Revolver Usage.

“
Exchange Act
” means the Securities Exchange Act of 1934, as in effect from time to time.

“
Existing Credit
Facilities
” means the credit facilities pursuant to (a) the Credit Agreement, dated
as of November 15, 2017, as amended, by and between the Target and Wells Fargo, and (b) the Second
Amended and Restated Credit Agreement, dated as of July 14, 2017, as amen
ded, by and among Parent,
CIT Finance LLC as agent, and others.

	
	
23

“
Existing First Lien Note Purchase Agreement
” means the First Lien Note Purchase Agreement
dated as of February 15, 2017, by and among the Target and the purchasers party thereto, as amended.

“
Existing Letters of Credit
” means, collectively, the letters of credit set forth on
Schedule 2.11
..

“
Existing Second Lien Note Purchase Agreement
” means the Amended and Restated Second Lien
Note Purchase Agreement, dated as of February 15, 2017, by and amo
ng the Target and the purchasers
party thereto, as amended.

“
Excluded Accounts
” has the meaning specified thereafter in the Guaranty and Security
Agreement.

“
Excluded Collateral
” means the following, except to the extent that any of the following may be
co
llateral for obligations under the
2026 Notes Documents
: (a) shares of any Subsidiary that is a “CFC” in
excess of sixty
-
five percent of all of the issued and outstanding shares of Equity Interests of such Subsidiary
entitled to vote (within the meaning of

Treasury Regulation Section 1.956
-
2) to secure the Obligations if a
pledge of a greater percentage would result in material adverse tax consequences to Parent or any other
Loan Party, (b) motor vehicles or other assets subject to a certificate of title st
atute, letter of credit rights
(other than to the extent such rights can be perfected by filing a UCC
-
1 and commercial tort claims with a
value less than $150,000), (c) leasehold interests in Real Property, (d) Excluded Accounts, (e) any rights or
interest
s in any contract, agreement, lease, permit, license, charter or license agreement, as such, if under
the terms of such contract, agreement, lease, permit, license, charter or license agreement covering real or
personal property, or applicable law with res
pect thereto, the valid grant of a Lien thereon to Agent would
constitute or result in a breach, termination or default under such contract, agreement, lease, permit, license,
charter or license agreement and such breach, termination or default has not bee
n or is not waived or the
consent of the other party to such contract, agreement, lease, permit, license, charter or license agreement
has not been or is not otherwise obtained or under applicable law such prohibition cannot be waived;
provided, that, the
foregoing exclusion shall in no way be construed (i) to apply if any such prohibition is
unenforceable under Sections 9
-
406, 9
-
407 or 9
-
408 of the Uniform Commercial Code or other applicable
law or (ii) so as to limit, impair or otherwise affect Agent’s un
conditional continuing liens on any rights or
interests of a Loan Party in or to monies due or to become due under any such contract, lease, permit,
license, charter or license agreement, (f) any United States intent
-
to
-
use trademark applications to the ex
tent
that, and solely during the period in which, the grant of a lien thereon would impair the validity or
enforceability of such intent
-
to
-
use trademark applications under applicable federal law; provided, that,
upon submission and acceptance by the U.S.
Patent and Trademark Office of an amendment to allege use
pursuant to 15 U.S.C. Section 1060(a), such intent
-
to
-
use trademark application shall be considered
Collateral. Proceeds of Excluded Collateral shall be deemed Collateral, and (g) any property as to

which
Agent agrees (in consultation with the Borrowers) that the costs of obtaining a security interest in, or Lien
on, such property, or perfection thereof, are excessive in relation to the value to the Lender Group and the
Bank Product Providers of the
security interest to be afforded thereby.  Notwithstanding the foregoing, any
and all proceeds of Excluded Collateral, to the extent that the proceeds are not themselves Excluded
Collateral, shall be Collateral.

“
Excluded Domestic Holdco
”:  a Domestic Subs
idiary substantially all of the assets of which
(whether held directly or indirectly) consist of Equity Interests of one or more Foreign Subsidiaries.

“
Excluded Subsidiary
” means any Subsidiary that is (a) a Foreign Subsidiary, (b) a direct or indirect
Sub
sidiary of a Foreign Subsidiary or an Excluded Domestic Holdco; (c) an Excluded Domestic Holdco,
(d) a captive insurance company; (e) a not
-
for
-
profit Subsidiary; (f) a Domestic Subsidiary that is a
disregarded entity for U.S. federal income tax purposes a
nd that owns Equity Interests of a Foreign
Subsidiary; (g) prohibited or restricted by organizational documents or any contract existing on (but not

	
	
24

incurred in anticipation of) the Closing Date (or if such Subsidiary is acquired after the Closing Date, on

the date of such acquisition (so long as such prohibition did not arise as part of, or in anticipation of, such
acquisition)) or applicable law (including any requirement to obtain the consent of a Governmental
Authority) or third party consent that has n
ot been obtained) from guaranteeing or granting Liens to secure
the Obligations; (h) a Subsidiary of any of the foregoing Subsidiaries (to the extent such Subsidiary satisfies
the exceptions described in any of the foregoing clauses (a) through (h)); and (
i) any other Subsidiary if a
guaranty by such Subsidiary would (in the reasonable good faith judgment of the Parent in consultation
with the Agent) result in material adverse tax consequences to the Borrowers.  Notwithstanding the
foregoing, any Subsidiary

that is a borrower or guarantor under the
2026 Notes Documents

shall not be an
Excluded Subsidiary.

“
Excluded Swap Obligation
” means, with respect to any Loan Party, any Swap Obligation if, and
to the extent that, all or a portion of the guaranty of such
Loan Party of, or the grant by such Loan Party of
a security interest to secure, such Swap Obligation (or any guaranty thereof) is or becomes illegal under the
Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commiss
ion
(or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any
reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the
regulations thereunder at the time the

guaranty of such Loan Party or the grant of such security interest
becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master
agreement governing more than one swap, such exclusion shall apply only to the portion of

such Swap
Obligation that is attributable to swaps for which such guaranty or security interest is or becomes illegal.

“
Excluded Taxes
” means (a) any Tax imposed on the net income or net profits of any Lender, any
Participant or any Recipient Agent (inclu
ding any franchise Taxes and branch profits Taxes), in each case
(i) imposed as a result of such Lender, Participant or Recipient Agent being organized under the laws of,
or having its principal office or, in the case of any Lender, its applicable lending
office located in, the
jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes,
(b) Taxes that would not have been imposed but for a Lender’s, Participant’s or Recipient Agent’s failure
to comply with t
he requirements of
Section 16.2

of this Agreement, (c) any United States federal
withholding Taxes that would be imposed on amounts payable to a Lender based upon the applicable
withholding rate in effect at the time such Lender becomes a party to this Agr
eement (or designates a new
lending office, other than a designation made at the request of a Loan Party), except that Excluded Taxes
shall not include (i) any amount that such Lender (or its assignor, if any) was previously entitled to receive
pursuant to

Section 16.1

of this Agreement, if any, with respect to such withholding Tax at the time such
Lender becomes a party to this Agreement (or designates a new lending office), and (ii) additional United
States federal withholding taxes that may be imposed af
ter the time such Lender becomes a party to this
Agreement (or designates a new lending office), as a result of a change in law, rule, regulation, treaty, order
or other decision or other Change in Law with respect to any of the foregoing by any Government
al
Authority, and (d) any withholding Taxes imposed under FATCA.

“Existing Credit Facilities” means the credit facilities pursuant to (a) the Credit Agreement, dated
as of November 15, 2017, as amended, by and between the Target and Wells Fargo, and (b)
the Second
Amended and Restated Credit Agreement, dated as of July 14, 2017, as amended, by and among Parent,
CIT Finance LLC as agent, and others.

“Existing First Lien Note Purchase Agreement” means the First Lien Note Purchase Agreement
dated as of Febru
ary 15, 2017, by and among the Target and the purchasers party thereto, as amended.

“Existing Letters of Credit” means, collectively, the letters of credit set forth on Schedule 2.11.

	
	
25

“Existing Second Lien Note Purchase Agreement” means the Amended and Res
tated Second Lien
Note Purchase Agreement, dated as of February 15, 2017, by and among the Target and the purchasers
party thereto, as amended.

“
FATCA
” means Sections 1471 through 1474 of the IRC, as of the date of this Agreement (or any
amended or success
or version that is substantively comparable and not materially more onerous to comply
with), and (a) any current or future regulations or official interpretations thereof, (b) any agreements entered
into pursuant to Section 1471(b)(1) of the IRC (or any am
ended or successor version described above), and
(c) any intergovernmental agreement entered into by the United States (or any fiscal or regulatory
legislation, rules, or practices adopted pursuant to any such intergovernmental agreement entered into in
co
nnection therewith) and a foreign government or one or more agencies thereof to implement the foregoing
and any fiscal or regulatory legislation, rules or official practices adopted pursuant to such published
intergovernmental agreement, treaty or conventi
on.

“
FCPA
” means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and
regulations thereunder.

“
Federal Funds Rate
” means, for any period, a fluctuating interest rate per annum equal to, for each
day during such period, the weighted aver
age of the rates on overnight Federal funds transactions with
members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal
Reserve Bank of New York, or, if such rate is not so published for any day which is a Busin
ess Day, the
average of the quotations for such day on such transactions received by Agent from three Federal funds
brokers of recognized standing selected by it (and, if any such rate is below zero, then the rate determined
pursuant to this definition sha
ll be deemed to be zero).

“
Fee Letter
” means the fee letter, dated July 18, 2018, between Parent and Wells Fargo.

“Fixed Charge Coverage Ratio” means, with respect to any fiscal period and with respect to Parent
and its Subsidiaries determined on a consoli
dated basis in accordance with GAAP,
the ratio of (a) EBITDA
for the twelve month period ending on such date,
minus

Unfinanced Capital Expenditures made (to the
extent not already incurred in a prior period) or incurred during the twelve month period ending on such
date,
minus

Consolidated Taxes paid in cash during the twelve (12) month period ending on such date, to
(
b) Fixed Charges for the twelve (12) month period ending on such date.

“
Fixed Charges
” means, with respect to any fiscal period and with respect to Parent and its
Subsidiaries determined on a Consolidated basis in accordance with GAAP,
the sum, without dup
lication,
of (a) Consolidated Interest Charges required to be paid (other than interest paid
-
in
-
kind, amortization of
financing fees, and other non
-
cash Consolidated Interest Charges) during such period, plus (b) scheduled
principal payments in respect of
Indebtedness that are required to be paid during such period, plus (c) all
amounts paid with respect to Earn
-
Outs during such period, plus (d) solely for purposes of calculating the
Fixed Charge Coverage Ratio as used in clause (b) of the definition of Pay
ment Conditions, all Restricted
Payments (whether in cash or other property, other than common Equity Interests) during such period.

“
Fixed Charge Coverage Ratio
” means, with respect to any fiscal period and with respect to Parent
and its Subsidiaries dete
rmined on a consolidated basis in accordance with GAAP,
the ratio of (a) EBITDA
for the twelve month period ending on such date,
minus

Unfinanced Capital Expenditures made (to the
extent not already incurred in a prior period) or incurred during the twelve

month period ending on such
date,
minus

Consolidated Taxes paid in cash during the twelve (12) month period ending on such date, to
(b) Fixed Charges for the twelve (12) month period ending on such date.

“Floor” means a rate of interest equal to 0%.

	
	
26

“
Flow

of Funds Agreement
” means a pay proceeds letter, dated as of even date with this Agreement,
in form and substance reasonably satisfactory to Agent, executed and delivered by Borrowers and Agent.

“
Foreign Subsidiary
” means any Subsidiary other than a Domes
tic Subsidiary.

“
Fronting Fee
” has the meaning specified therefor in
Section 2.11(k)

of this Agreement.

“
Funding Date
” means the date on which a Borrowing occurs.

“
Funding Losses
” has the meaning specified therefor in
Section 2.12(c)(iii)

of this Agreement
..

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

“
General Intangible
” means a general intangible (as that term is defined in the UCC).

“
Goods
” means goods (as that term is
defined in the UCC).

“
Governing Documents
” means, with respect to any Person, the certificate or articles of
incorporation or association, memorandum of association, by
-
laws, or other organizational documents of
such Person.

“
Governmental Authority
” means
the government of any nation or any political subdivision
thereof, whether at the national, state, territorial, provincial, county, municipal or any other level, and any
agency, authority, instrumentality, regulatory body, court, central bank or other enti
ty exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of, or pertaining to,
government (including any supra
-
national bodies such as the European Union or the European Central
Bank).

“
Guarantor
” means (a) e
ach Person that guaranties all or a portion of the Obligations, including
any Person that is a “Guarantor” under the Guaranty and Security Agreement, and (b) each other Person
that becomes a guarantor after the Closing Date pursuant to
Section 5.11

of this

Agreement, provided, that,
“Guarantor” shall not include any Excluded Subsidiary.

“
Guaranty and Security Agreement
” means a guaranty and security agreement, dated as of even
date with this Agreement, in form and substance reasonably satisfactory to Agent,

executed and delivered
by each of the Loan Parties to Agent.

“
Hazardous Materials
” means (a) substances that are defined or listed in, or otherwise classified
pursuant to, any applicable laws or regulations as “hazardous substances,” “hazardous materials,
”
“hazardous wastes,” “toxic substances,” or any other formulation intended to define, list, or classify
substances by reason of deleterious properties such as ignitability, corrosivity, reactivity, carcinogenicity,
reproductive toxicity, or “EP toxicity”,

(b) oil, petroleum, or petroleum derived substances, natural gas,
natural gas liquids, synthetic gas, drilling fluids, produced waters, and other wastes associated with the
exploration, development, or production of crude oil, natural gas, or geothermal r
esources, (c) any
flammable substances or explosives or any radioactive materials, and (d) asbestos in any form or electrical
equipment that contains any oil or dielectric fluid containing levels of polychlorinated biphenyls in excess
of 50 parts per milli
on.

“
Hedge Agreement
” means a “swap agreement” as that term is defined in Section 101(53B)(A) of
the Bankruptcy Code.

	
	
27

“
Hedge Obligations
” means any and all obligations or liabilities, whether absolute or contingent,
due or to become due, now existing or
hereafter arising, of Loan Parties arising under, owing pursuant to,
or existing in respect of Hedge Agreements entered into with one or more of the Hedge Providers; provided
that, anything to the contrary contained in the foregoing notwithstanding, the He
dge Obligations shall
exclude any Excluded Swap Obligation.

“
Hedge Provider
” means Wells Fargo or any of its Affiliates.

“
Increased Reporting Event
” means if at any time Excess Availability is less than 12.5% of the
Maximum Credit.

“
Increased Reporting Per
iod
” means the period commencing upon the occurrence of an Increased
Reporting Event and continuing until the first day after such Increased Reporting Event that Excess
Availability equals or exceeds 12.5% of the Maximum Credit; provided that, if Excess Av
ailability is equal
to or greater than 12.5% of the Maximum Credit for at least thirty (30) consecutive days after such Increased
Reporting Event, the Increased Reporting Event shall no

longer be deemed to exist or be continuing until
such time as Excess A
vailability may again be less than
12.5% of the Maximum Credit
..

“
Indebtedness
” as to any Person means (a) all obligations of such Person for borrowed money, (b)
all obligations of such Person evidenced by bonds, debentures, notes, or other similar instrume
nts and all
reimbursement or other obligations in respect of letters of credit, bankers acceptances, or other financial
products, (c) all obligations of such Person as a lessee under Capital Leases, (d) all obligations or liabilities
of others secured by a

Lien on any asset of such Person, irrespective of whether such obligation or liability
is assumed, (e) all obligations of such Person to pay the deferred purchase price of assets (other than trade
payables incurred in the ordinary course of business and r
epayable in accordance with customary trade
practices and, for the avoidance of doubt, other than royalty payments payable in the ordinary course of
business in respect of non
-
exclusive licenses) and any Earn
-
Out or similar obligations to the extent requir
ed
to be recognized as a liability on the balance sheet of such Person under GAAP, (f) all monetary obligations
of such Person owing under Hedge Agreements (which amount shall be calculated based on the amount
that would be payable by such Person if the He
dge Agreement were terminated on the date of
determination), (g) any Disqualified Equity Interests of such Person, and (h) any obligation of such Person
guaranteeing or intended to guarantee (whether directly or indirectly guaranteed, endorsed, co
-
made,
di
scounted, or sold with recourse) any obligation of any other Person that constitutes Indebtedness under
any of clauses (a) through (g) above.  For purposes of this definition, (i) the amount of any Indebtedness
represented by a guaranty or other similar in
strument shall be the lesser of the principal amount of the
obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person
may be liable pursuant to the terms of the instrument embodying such Indebtedness, and (ii) th
e amount of
any Indebtedness which is limited or is non
-
recourse to a Person or for which recourse is limited to an
identified asset shall be valued at the lesser of (A) if applicable, the limited amount of such obligations, and
(B) if applicable, the fair

market value of such assets securing such obligation.

“
Indemnified Liabilities
” has the meaning specified therefor in
Section 10.3

of this Agreement.

“
Indemnified Person
” has the meaning specified therefor in
Section 10.3

of this Agreement.

“Indemnified T
axes” means, (a) Taxes, other than Excluded Taxes, imposed on or with respect to
any payment made by, or on account of any obligation of, any Loan Party under any Loan Document, and
(b) to the extent not otherwise described in the foregoing clause (a), Oth
er Taxes.

“
Insolvency Laws
” means, collectively, the Bankruptcy Code, and any other applicable state,
provincial, territorial or federal bankruptcy or insolvency laws, each as now and hereafter in effect, any

	
	
28

successors to such statutes and any other appli
cable insolvency or other similar law of any jurisdiction,
including any law of any jurisdiction permitting a debtor to obtain a stay or a compromise of the claims of
its creditors against it and including any rules and regulations pursuant thereto.

“
Indem
nified Taxes
” means, (a) Taxes, other than Excluded Taxes, imposed on or with
respect to any payment made by, or on account of any obligation of, any Loan Party under any
Loan Document, and (b) to the extent not otherwise described in the foregoing clause
(a), Other
Taxes.

“
Insolvency Proceeding
” means any proceeding commenced by or against any Person under any
provision of the Bankruptcy Code or under any other state or federal bankruptcy or insolvency law,
assignments for the benefit of creditors, formal
or informal moratoria, compositions, extensions generally
with creditors, or proceedings seeking reorganization, arrangement, or other similar relief.

“
Intercreditor Agreement
” means the Intercreditor Agreement, dated as of the Amendment No. 3
Effective Da
te, among Agent and 2026 Notes
Agent
Trustee
, as amended, restated or modified from time
to time in accordance with its terms.”

“
Interest Expense
” means, for any period, the aggregate of the interest expense of Parent and its
Subsidiaries for such period,
determined on a consolidated basis in accordance with GAAP.

“
Interest Period
” means, with respect to
each LIBOR Rate
any SOFR

Loan, a period commencing
on the date of the making of such
LIBOR Rate
SOFR

Loan (or the continuation of a
LIBOR Rate
SOFR

Loan or th
e conversion of a Base Rate Loan to a
LIBOR Rate
SOFR

Loan) and ending one (1)
, two (2),

or

three (3)
or six (6)
months thereafter;
provided
, that
,

(a) interest shall accrue at the applicable rate based
upon
the LIBOR Rate
Term SOFR

from and including the f
irst day of each Interest Period to, but excluding,
the day on which any Interest Period expires, (b) any Interest Period that would end on a day that is not a
Business Day shall be extended to the next succeeding Business Day unless such Business Day fall
s in
another calendar month, in which case such Interest Period shall end on the next preceding Business Day,
(c) with respect to an Interest Period that begins on the last Business Day of a calendar month (or on a day
for which there is no numerically cor
responding day in the calendar month at the end of such Interest
Period), the Interest Period shall end on the last Business Day of the calendar month that is one (1)
, two
(2),

or

three (3)
or six (6)
months after the date on which the Interest Period began, as applicable,
and
(d)
Borrowers may not elect an Interest Period which will end after the Maturity Date

and (e) no tenor that has
been removed from this definition pursuant to Section 2.12(d)(iii)(
D) shall be available for specification in
any SOFR Notice or conversion or continuation notice
..

“
Inventory
” means inventory (as that term is defined in the UCC).

“
Investment
” means, with respect to any Person, any investment by such Person in any other Pe
rson
(including Affiliates) in the form of loans, guarantees, advances, capital contributions (excluding (a)
commission, travel, and similar advances to officers and employees of such Person made in the ordinary
course of business, and (b)
bona fide

accoun
ts receivable arising in the ordinary course of business), or
acquisitions of Indebtedness, Equity Interests, or all or substantially all of the assets of such other Person
(or of any division or business line of such other Person), and any other items tha
t are or would be classified
as investments on a balance sheet prepared in accordance with GAAP.  The amount of any Investment shall
be the original cost of such Investment
plus

the cost of all additions thereto, without any adjustment for
increases or dec
reases in value, or write
-
ups, write
-
downs, or write
-
offs with respect to such Investment.

“
IRC
” means the Internal Revenue Code of 1986, as in effect from time to time.

	
	
29

“
ISP
” means, with respect to any Letter of Credit, the International Standby Practices

1998
(International Chamber of Commerce Publication No. 590) and any version or revision thereof accepted by
the Issuing Bank for use.

“
Issuer Document
” means, with respect to any Letter of Credit, a letter of credit application, a letter
of credit agreem
ent, or any other document, agreement or instrument entered into (or to be entered into) by
a Borrower in favor of Issuing Bank and relating to such Letter of Credit.

“
Issuing Bank
” means Wells Fargo.

“
Joinder
” means a joinder agreement substantially in th
e form of
Exhibit J
-
1

to this Agreement.

“
Judgment Currency
” has the meaning specified therefor in
Section 17.15

of the Agreement.

“
Landlord Reserve
” means, as to each location at which a Borrower has books and records located
and as to which a Collateral

Access Agreement has not been received by Agent, a reserve in an amount
equal to 3 months’ rent, storage charges, fees or other amounts under the lease or other applicable agreement
relative to such location or, if greater and Agent so elects in its Permi
tted Discretion, the number of months’
rent, storage charges, fees or other amounts for which the landlord or other property owner will have, under
applicable law, a Lien to secure the payment of such amounts under the lease or other applicable agreement
r
elative to such location.

“
Lender
” has the meaning set forth in the preamble to this Agreement, shall include Issuing Bank,
and shall also include any other Person made a party to this Agreement pursuant to the provisions of
Section
13.1

of this Agreement and “
Lenders
” means each of Lenders or any one or more of them.

“
Lender Group
” means each of the Lenders (including Issuing Bank) and Agent or any one or more
of them (as the context requires).

“
Lender Group Expenses
” means all (a) cost
s or expenses (including taxes, and insurance
premiums) required to be paid by any Loan Party under any of the Loan Documents that are paid, advanced,
or incurred by the Lender Group, (b) documented out
-
of
-
pocket fees or charges paid or incurred by Agent
i
n connection with the Lender Group’s transactions with any Loan Party under any of the Loan Documents,
including, fees or charges for photocopying, notarization, couriers and messengers, telecommunication,
public record searches (including tax lien, corpor
ate, bankruptcy, litigation, UCC searches and including
searches with the patent and trademark office, the copyright office, or the department of motor vehicles),
filing, recording, publication, real estate surveys, real estate title policies and endorseme
nts, and
environmental audits, (c) Agent’s customary fees and charges imposed or incurred in connection with any
background checks or OFAC/PEP searches related to any Loan Party or its Affiliates, (d) Agent’s
customary fees and charges (as adjusted from ti
me to time) with respect to the disbursement of funds (or
the receipt of funds) to or for the account of any Borrower (whether by wire transfer or otherwise), together
with any documented out
-
of
-
pocket costs and expenses incurred in connection therewith, (
e) customary
charges imposed or incurred by Agent resulting from the dishonor of checks payable by or to any Loan
Party, (f) reasonable and documented out
-
of
-
pocket costs and expenses paid or incurred by the Lender
Group to correct any default or enforce a
ny provision of the Loan Documents, or during the continuance of
an Event of Default, in gaining possession of, maintaining, handling, preserving, storing, shipping, selling,
preparing for sale, or advertising to sell the Collateral, or any portion thereof
, irrespective of whether a sale
is consummated, (g) subject to Section 5.7(c), field examination fees and expenses (including travel, meals,
and lodging) of Agent related to any field examinations or inspections to the extent of the fees and charges
(and
up to the amount of any limitation) contained in this Agreement or the Fee Letter, (h) reasonable
documented costs and out
-
of
-
pocket expenses (including reasonable and documented attorneys’ fees and

	
	
30

expenses) related to third party claims or any other suit

or adverse proceeding paid or incurred by the Lender
Group in enforcing or defending the Loan Documents or in connection with the transactions contemplated
by the Loan Documents or the Lender Group’s relationship with any Loan Party, (i) Agent’s reasonabl
e
and documented costs and out
-
of
-
pocket expenses (including reasonable and documented attorneys’ fees
limited to a single counsel in the United States and any other jurisdiction of a Loan Party or where its assets
are located) incurred in advising, struct
uring, drafting, reviewing, administering (including travel, meals,
and lodging), syndicating (including SyndTrak, Intralinks or other communications costs incurred in
connection with a syndication of the loan facilities), or amending, waiving or modifying

the Loan
Documents, and (j) Agent’s and each Lender’s reasonable and documented costs and out
-
of
-
pocket
expenses (including reasonable and documented outside attorneys, accountants, consultants, and other
advisors fees and expenses) incurred in terminatin
g, enforcing (including reasonable outside attorneys,
accountants, consultants, and other advisors fees and expenses incurred in connection with a “workout,” a
“restructuring,” or an Insolvency Proceeding concerning any Loan Party or in exercising rights o
r remedies
under the Loan Documents), or defending the Loan Documents, irrespective of whether suit or other adverse
proceeding is brought, or in taking any enforcement action or any Remedial Action concerning the
Collateral.

“
Lender Group Representatives
”

has the meaning specified therefor in
Section 17.9

of this
Agreement.

“
Lender
-
Related Person
” means, with respect to any Lender, such Lender, together with such
Lender’s Affiliates, officers, directors, employees, attorneys, and agents.

“
Letter of Credit
”

means a letter of credit (as that term is defined in the UCC) issued by Issuing
Bank for the account of any Borrower, including the Existing Letters of Credit.

“
Letter of Credit Collateralization
” means either (a) providing cash collateral (pursuant to
do
cumentation reasonably satisfactory to Agent (including that Agent has a first priority perfected Lien in
such cash collateral), including provisions that specify that the Letter of Credit Fees and all commissions,
fees, charges and expenses provided for i
n
Section 2.11(k)

of this Agreement (including any fronting fees)
will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of
the
Revolving
Lenders in an amount equal to one hundred five percent (105%) of the

then existing Letter
of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of
Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such
beneficiaries’ rights u
nder the Letters of Credit, or (c) providing Agent with a standby letter of credit, in
form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its
sole discretion) in an amount equal to one hundred five percent (
105%) of the then existing Letter of Credit
Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in this Agreement
will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue mu
st
be an amount that can be drawn under any such standby letter of credit).

“
Letter of Credit Disbursement
” means a payment made by Issuing Bank pursuant to a Letter of
Credit.

“
Letter of Credit Exposure
” means, as of any date of determination with respect

to any Lender,
such Lender’s participation in the Letter of Credit Usage pursuant to
Section 2.11(e)

on such date.

“
Letter of Credit Fee
” has the meaning specified therefor in
Section 2.6(b)

of this Agreement.

“
Letter of Credit Indemnified Costs
” has the
meaning specified therefor in
Section 2.11(f)

of this
Agreement.

	
	
31

“
Letter of Credit Related Person
” has the meaning specified therefor in
Section 2.11(f)

of this
Agreement.

“
Letter of Credit Sublimit
” means $7,500,000.

“
Letter of Credit Usage
” means, as of
any date of determination, the sum of (a) the aggregate
undrawn amount of all outstanding Letters of Credit,
plus

(b) the aggregate amount of outstanding
reimbursement obligations with respect to Letters of Credit which remain unreimbursed or which have no
t
been paid through a Revolving Loan.

“
LIBOR Deadline
” has the meaning specified therefor in
Section 2.12(b)(i)

of this Agreement.

“
LIBOR Notice
” means a written notice in the form of
Exhibit L
-
1

to this Agreement.

“
LIBOR Option
” has the meaning specified
therefor in
Section 2.12(a)

of this Agreement.

“
LIBOR Rate
” means, in relation to any LIBOR Rate Loan, the rate per annum published by ICE
Benchmark Administration Limited (or any successor page or other commercially available source as Agent
may designate

from time to time) as of 11:00 a.m., London time, two (2) Business Days prior to the
commencement of the requested Interest Period, for a term, and in an amount, comparable to the Interest
Period and the amount of the LIBOR Rate Loan requested (whether as

an initial LIBOR Rate Loan or as a
continuation of a LIBOR Rate Loan or as a conversion of a Base Rate Loan to a LIBOR Rate Loan) by
Borrowers in accordance with this Agreement (and, if any such published rate is below zero, then the rate
determined pursu
ant to this clause (b) shall be deemed to be zero).  Each determination of the LIBOR Rate
shall be made by the Agent and shall be conclusive in the absence of manifest error.

“
LIBOR Rate Loan
” means each portion of a Revolving Loan that bears interest at a

rate determined
by reference to the LIBOR Rate.

“
LIBOR Rate Margin
” means the Applicable LIBOR Rate Margin as set forth in the definition of
the term Applicable Margin.

“
Lien
” means any mortgage, deed of trust, pledge, hypothecation, assignment, charge, d
eposit
arrangement, encumbrance, easement, lien (statutory or other), security interest, or other security
arrangement and any other preference, priority, or preferential arrangement of any kind or nature
whatsoever, including any conditional sale contract

or other title retention agreement, the interest of a lessor
under a Capital Lease and any synthetic or other financing lease having substantially the same economic
effect as any of the foregoing.

“
Loan Account
” has the meaning specified therefor in
Secti
on 2.9(b)

of this Agreement.

“
Loan
” means any Revolving Loan or Special Advance made (or to be made) hereunder.

“Loan Account” has the meaning specified therefor in Section 2.9(b) of this Agreement.

“
Loan Documents
” means this Agreement, the Guaranty and Security Agreement and the other
Collateral Documents, the Control Agreements, any Borrowing Base Certificate, the Fee Letter, any Issuer
Documents, the Intercreditor Agreement, the Letters of Credit, the Loan Manag
ers Side Letter, the Patent
Security Agreement, the Trademark Security Agreement, any note or notes executed by Borrowers in
connection with this Agreement and payable to any member of the Lender Group, and any other instrument

	
	
32

or agreement entered into, n
ow or in the future, by any Loan Party and any member of the Lender Group
in connection with this Agreement (but specifically excluding Bank Product Agreements).

“
Loan Party
” means any Borrower or any Guarantor.

“
Margin Stock
” as defined in Regulation U of

the Board of Governors of the Federal Reserve
System as in effect from time to time.

“
Material Adverse Effect
”
means (a) a material adverse change in, or a material adverse effect
upon, the financial condition, results of operations, properties, assets or

liabilities of the Loan Parties and
their Subsidiaries, taken as a whole, (b) a material impairment of the rights and remedies of the Agent or
any Lender under the Loan Documents (including, without limitation, the Lender Group’s ability to enforce
the Ob
ligations or realize upon the Collateral), or of the ability of the Loan Parties, taken as a whole, to
perform their obligations under the Loan Documents, (c) a material adverse effect upon the legality,
validity, binding effect or enforceability against t
he Loan Parties, taken as a whole, of the Loan Documents,
or (d) a material adverse change in, or a material adverse effect upon, the enforceability or priority of
Agent’s Liens with respect to all or a material portion of the Collateral
..

“
Material Contrac
t
” means, with respect to any Loan Party, (i) the Closing Date Merger
Documents, and (ii) all other contracts or agreements, the loss of which could reasonably be expected to
result in a Material Adverse Effect.

“
Maturity Date
” means the earlier of (a) the

maturity date under the
2026 Notes Indenture

or (b)
October 1, 2023
September 30, 2025
..

“
Maximum Credit
” means $40,000,000, decreased by the amount of reductions in the
Commitments made in accordance with
Section 2.4(c)

of this Agreement.

“
Moody’s
” has the

meaning specified therefor in the definition of Cash Equivalents.

“
Multiemployer Plan
” means any employee benefit plan of the type described in Section

4001(a)(3)
of ERISA, to which any Loan Party or any ERISA Affiliate makes or is obligated to make contr
ibutions,
during the preceding five plan years has made or been obligated to make contributions, or with respect to
which any Loan Party has any liability.

“
Non
-
Consenting Lender
” has the meaning specified therefor in
Section 14.2(a)

of this Agreement.

“
No
n
-
Defaulting Lender
” means each Lender other than a Defaulting Lender.

“
Note Priority Collateral
” has the meaning specified therefor in the Intercreditor Agreement.

“
Obligations
” means (a) all loans (including the Revolving Loans (including Special Advance
s)),
debts, principal, interest (including any interest that accrues after the commencement of an Insolvency
Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency
Proceeding), reimbursement or indemnif
ication obligations with respect to Letters of Credit (irrespective
of whether contingent), premiums, liabilities (including all amounts charged to the Loan Account pursuant
to this Agreement), obligations (including indemnification obligations), fees (inc
luding the fees provided
for in the Fee Letter), Lender Group Expenses (including any fees or expenses that accrue after the
commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in
part as a claim in any such Ins
olvency Proceeding), guaranties, and all covenants and duties of any other
kind and description owing by any Loan Party arising out of, under, pursuant to, in connection with, or

	
	
33

evidenced by this Agreement or any of the other Loan Documents and irrespecti
ve of whether for the
payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing
or hereafter arising, and including all interest not paid when due and all other expenses or other amounts
that any Loan Party is

required to pay or reimburse by the Loan Documents or by law or otherwise in
connection with the Loan Documents, and (b) all Bank Product Obligations;
provided
,
that
, anything to the
contrary contained in the foregoing notwithstanding, the Obligations sha
ll exclude any Excluded Swap
Obligation.  Without limiting the generality of the foregoing, the Obligations of Borrowers under the Loan
Documents include the obligation to pay (i) the principal of the Revolving Loans, (ii) interest accrued on
the Revolving

Loans, (iii) the amount necessary to reimburse Issuing Bank for amounts paid or payable
pursuant to Letters of Credit, (iv) Letter of Credit commissions, fees (including fronting fees) and charges,
(v) Lender Group Expenses, (vi) fees payable under this A
greement or any of the other Loan Documents,
and (vii) indemnities and other amounts payable by any Loan Party under any Loan Document.  Any
reference in this Agreement or in the Loan Documents to the Obligations shall include all or any portion
thereof an
d any extensions, modifications, renewals, or alterations thereof, both prior and subsequent to
any Insolvency Proceeding.

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

“
Originating Lender
” has the meaning specif
ied therefor in
Section 13.1(e)

of this Agreement.

“
Other Connection Taxes
” means, with respect to any Lender, Participant or Recipient Agent,
Taxes imposed as a result of a present or former connection between such Lender, Participant or Recipient
Agent a
nd the jurisdiction or taxing authority imposing the Tax (other than any such connection arising
solely from such Lender or such Participant having executed, delivered or performed its obligations,
received payments under, received or perfected a security
interest under, engaged in any other transaction
pursuant to or enforced its rights or remedies under this Agreement or any other Loan Document).

“
Other Taxes
” means all present or future stamp, court, or documentary, intangible, recording,
filing, excise,

or similar Taxes that arise from any payment made under, from the execution, delivery,
performance, enforcement or registration of, from the receipt or perfection of a security interest under, or
otherwise with respect to, any Loan Document, except any su
ch Taxes that are Other Connection Taxes
imposed with respect to an assignment (other than an assignment made pursuant to Section

14.2).

“
Overadvance
” means, as of any date of determination, that the Revolver Usage is greater than any
of the limitations se
t forth in
Section 2.1

or
Section 2.11
..

“
Parent
” has the meaning specified therefor in the preamble to this Agreement.

“
Participant
” has the meaning specified therefor in
Section 13.1(e)

of this Agreement.

“
Pass
-
Through Tax Liabilities
” means the amount of

state and federal income tax paid or to be paid
by any direct or indirect owner of any Equity Interest in Administrative Borrower on taxable income earned
by Administrative Borrower and attributable to such owner of such Equity Interest as a result of the

“pass
-
through” tax status of the Administrative Borrower (and, as applicable, any direct or indirect owner thereof),
assuming the highest marginal income tax rate for federal and state income tax purposes of an individual
residing in New York County, New
York, after taking into account any deduction for state income taxes in
calculating the federal income tax liability and all other deductions, credits, deferrals and other reductions
(including unused, unexpired prior year loss carry
-
forwards) available to

such owner of such Equity Interest
from or through Administrative Borrower.

	
	
34

“
Patent Security Agreement
” has the meaning specified therefor in the Guaranty and Security
Agreement.

“
Patriot Act
” has the meaning specified therefor in
Section 4.13

of this Agr
eement.

“
Payment Conditions
” means, at the time of determination with respect to any specified transaction
or payment the following:

(a)

as of the date of any such transaction or payment, and after giving effect thereto, no Event
of Default shall exist or hav
e occurred and be continuing;

(b)

as of the date of any such transaction or payment, and after giving effect thereto, either:

(i)

the Excess Availability for the immediately preceding thirty (30) consecutive day
period shall be not less twenty
-
five percent (25%)
of the Maximum Credit and after giving effect to the
transaction or payment, on a pro forma basis using the most recent calculation of the Borrowing Base
immediately prior to any such payment or transaction, the Excess Availability shall be not less than s
uch
amount; or

(ii)

both (A) the Excess Availability for the immediately preceding thirty (30)
consecutive day period shall be not less than twenty percent (20%) of the Maximum Credit and after giving
effect to the transaction or payment, on a pro forma basis
using the most recent calculation of the Borrowing
Base immediately prior to any such payment or transaction, the Excess Availability shall be not less than
such amount, and (B) as of the date of any such transaction or payment, and after giving effect the
reto, on
a pro forma basis, the Fixed Charge Coverage Ratio of Parent and its Subsidiaries for the immediately
preceding twelve (12) consecutive fiscal months ending on the last day of the applicable fiscal period prior
to the date of such payment or trans
action for which Agent has received financial statements shall be at
least 1.00 to 1.00; and

(c)

Agent shall have received a certificate of an Authorized
Officer
Person

of Lead Borrower
certifying as to compliance with the preceding clauses and demonstrating (i
n reasonable detail) the
calculations required thereby.

“Payment Recipient” has the meaning specified therefor in Section 17.21 of this Agreement.

“
PBGC
” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and
any successor ent
ity thereto performing similar functions.

“
Pension Plan
” means any “employee pension benefit plan” (as such term is defined in Section 3(2)
of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or
maintained by a
ny Loan Party or any ERISA Affiliate or to which any Loan Party or any ERISA Affiliate
contributes or has an obligation to contribute, or in the case of a multiple employer or other plan described
in Section 4064(a) of ERISA, has made contributions at any
time during the immediately preceding five
(5) plan years.

“
Perfection Certificate
” means a certificate in the form of
Exhibit P
-
1

to this Agreement.

“
Permitted Acquisition
” means any Acquisition so long as:

(a)

each of the Payment Conditions shall be satisfie
d,

	
	
35

(b)

Lead Borrower has provided Agent with its due diligence package relative to the proposed
Acquisition, including forecasted balance sheets, profit and loss statements, and cash flow statements of
the Person or assets to be acquired, all prepared on a bas
is consistent with such Person’s (or assets’)
historical financial statements, together with appropriate supporting details and a statement of underlying
assumptions for the one (1) year period following the date of the proposed Acquisition, on a quarter b
y
quarter basis), in form and substance (including as to scope and underlying assumptions) reasonably
satisfactory to Agent; provided that such diligence package shall only be required to be delivered by
Borrowers for Acquisitions with a Purchase Price in
excess of $5,000,000 and for any Acquisitions funded
in whole or in part with proceeds of Revolving Loans,

(c)

Lead Borrower has provided Agent with written notice of the proposed Acquisition at least
fifteen (15) Business Days prior to the anticipated closing

date of the proposed Acquisition and, not later
than five (5) Business Days prior to the anticipated closing date of the proposed Acquisition, copies of the
acquisition agreement and other material documents relative to the proposed Acquisition, which agr
eement
and documents must be reasonably acceptable to Agent,

(d)

the assets being acquired (other than a
de minimis

amount of assets in relation to Loan
Parties’ total assets), or the Person whose Equity Interests are being acquired, are substantially similar
to
the business of Loan Parties or a business reasonably related or incidental thereto,

(e)

the subject assets or Equity Interests, as applicable, are being acquired directly by a Loan
Party, and, in connection therewith, the applicable Loan Party shall have c
omplied with
Section 5.11

or
5.12
, as applicable, of this Agreement,

(f)

the assets being acquired (other than a de minimis amount of assets in relation to the assets
being acquired) are located within the United States or Canada or the Person whose Equity
Interests are
being acquired is organized in a jurisdiction located within the United States or Canada, and

(g)

such Acquisition shall not be hostile and shall have been approved by the board of directors
(or other similar body) or the requisite number of stoc
kholders or other equityholders, as applicable, of the
target as required by the governing documents of such target.

“
Permitted Discretion
” means, with reference to Agent, a determination made in good faith in the
exercise of its reasonable business judgme
nt based on how an asset
-
based lender with similar rights
providing a credit facility of the type set forth in this Agreement would act in similar circumstances at the
time with the information then available to it.

“
Permitted Dispositions
” means:

(a)

sales, a
bandonment, or other Dispositions of Equipment (excluding Rig Fleet
Equipment) that is substantially worn, damaged, or obsolete or no longer used or useful in the
ordinary course of business and leases or subleases of Real Property not useful in the conduc
t of
the business of the Loan Parties and their Subsidiaries,

(b)

sales of Inventory to buyers in the ordinary course of business,

(c)

the use or transfer of money or Cash Equivalents in a manner that is not prohibited
by the terms of this Agreement or the other L
oan Documents,

(d)

the licensing, on a non
-
exclusive basis, of patents, trademarks, copyrights, and
other intellectual property rights in the ordinary course of business,

	
	
36

(e)

the granting of Permitted Liens,

(f)

the sale or discount, in each case without recourse, of
accounts receivable (other
than Eligible Accounts) arising in the ordinary course of business, but only in connection with the
compromise or collection thereof,

(g)

any involuntary loss, damage or destruction of property,

(h)

any involuntary condemnation, seizure
or taking, by exercise of the power of
eminent domain or otherwise, or confiscation or requisition of use of property,

(i)

the leasing or subleasing of assets of any Loan Party or its Subsidiaries in the
ordinary course of business,

(j)

the sale or issuance of Equ
ity Interests (other than Disqualified Equity Interests)
of Borrowers,

(k)

(i) the lapse of registered patents, trademarks, copyrights and other intellectual
property of any Loan Party or any of its Subsidiaries to the extent not economically desirable in the
conduct of its business, or (ii) the abandonment of patents, trademarks, copyrights, or other
intellectual property rights in the ordinary course of business so long as (in each case under clauses
(i) and (ii)), (A) with respect to copyrights, such copyrig
hts are not material revenue generating
copyrights, and (B) such lapse is not materially adverse to the interests of the Lender Group,

(l)

the making of Restricted Payments that are expressly permitted to be made
pursuant to this Agreement,

(m)

the making of Permi
tted Investments,

(n)

so long as no Event of Default has occurred and is continuing or would
immediately result therefrom, transfers of assets (i) from any Loan Party or any of its Subsidiaries
to a Loan Party, and (ii) from any Subsidiary of any Loan Party th
at is not a Loan Party to any other
Subsidiary of any Loan Party,

(o)

dispositions of Equipment (excluding Rig Fleet Equipment) to the extent that (i)
such property is exchanged for credit against the purchase price of similar replacement property,
or (ii) the

net cash proceeds of such disposition are applied within 365 days following the applicable
Loan Party’s or Subsidiary’s receipt of such net cash proceeds to the purchase price of Equipment
useful in the Loan Parties’ business (or are otherwise applied in
accordance with the 2026 Notes
Indenture);
provided
, that (A) to the extent the property being transferred constitutes Collateral,
such replacement property shall constitute Collateral, (B) the applicable Loan Party or its
Subsidiary receives at least the
fair market value of the assets so disposed,

and (C) such net cash
proceeds will not be used to prepay any Revolving Loans (except as otherwise permitted by the
Intercreditor Agreement),

(p)

sales or other dispositions of Rig Fleet Equipment not to exceed $25,
000,000 in
the aggregate in any fiscal year, so long as (i) no Default or Event of Default has occurred and is
continuing or would immediately result therefrom, and (ii) each such sale or disposition is in an
arm’s
-
length transaction with a third party and

the applicable Loan Party or its Subsidiary receives
at least the fair market value of the assets so disposed,

	
	
37

(q)

sales or other dispositions of assets (excluding Rig Fleet Equipment, other
Equipment and, except as permitted by clause (f) above, the sale or
discount of accounts receivable)
not otherwise permitted in clauses (a) through (q) above so long as (i) no Default or Event of Default
has occurred and is continuing or would immediately result therefrom, (ii) each such sale or
disposition is in an arm’s
-
length transaction and the applicable Loan Party or its Subsidiary receives
at least the fair market value of the assets so disposed, and (iii) the consideration received by the
applicable Loan Party or its Subsidiary consists of at least 75% cash and Cash

Equivalents and is
paid at the time of the closing of such sale or disposition, and

(r)

sales or other dispositions of assets (excluding Rig Fleet Equipment and, except as
permitted by clause (f) above, the sale or discount of accounts receivable) not otherwi
se permitted
in clauses (a) through (q) above not exceeding $5,000,000 during the term of this Agreement.

“
Permitted Holder
” means MSD Partners, L.P., MSD Credit Opportunity Master Fund, L.P., MSD
Energy Investments, L.P., and their respective Affiliates s
o long as Lenders shall have completed its Patriot
Act searches, OFAC/PEP searches, and customary individual background checks and searches, as requi
red
by bank regulatory authorities under applicable “know your customer” and anti
-
money laundering rules
an
d regulations,
the results of which shall be reasonably satisfactory to the Lenders.

“
Permitted Indebtedness
” means:

(a)

Indebtedness in respect of the Obligations,

(b)

Indebtedness as of the Closing Date set forth on Schedule 4.14 to this Agreement and any
Refina
ncing Indebtedness in respect of such Indebtedness,

(c)

Permitted Purchase Money Indebtedness and any Refinancing Indebtedness in respect of
such Indebtedness,

(d)

Indebtedness arising in connection with the endorsement of instruments or other payment
items for de
posit,

(e)

Indebtedness consisting of (i) unsecured guarantees incurred in the ordinary course of
business with respect to surety and appeal bonds, performance bonds, bid bonds, appeal bonds, completion
guarantee and similar obligations, and (ii) unsecured gua
rantees arising with respect to customary
indemnification obligations to purchasers in connection with Permitted Dispositions,

(f)

Indebtedness incurred in the ordinary course of business in respect of credit cards, credit
card processing services, debit cards
, stored value cards, commercial cards (including so
-
called “purchase
cards”, “procurement cards” or “p
-
cards”), or Cash Management Services,

(g)

contingent liabilities in respect of any indemnification obligation, adjustment of purchase
price, non
-
compete, or

similar obligation of any Loan Party incurred in connection with the consummation
of one or more Permitted Acquisitions,

(h)

to the extent constituting Indebtedness, Permitted Investments,

(i)

unsecured Indebtedness incurred in respect of netting services, overdr
aft protection, and
other like services, in each case, incurred in the ordinary course of business,

	
	
38

(j)

unsecured Indebtedness of any Loan Party or its Subsidiaries, in an aggregate outstanding
amount not to exceed $10,000,000, in respect of Earn
-
Outs owing to

sellers of assets or Equity Interests to
such Loan Party or its Subsidiaries that is incurred in connection with the consummation of one or more
Permitted Acquisitions so long as such unsecured Indebtedness is on terms and conditions reasonably
acceptable

to the Required Lenders,

(k)

accrual of interest, accretion or amortization of original issue discount, or the payment of
interest in kind, in each case, on Indebtedness that otherwise constitutes Permitted Indebtedness,

(l)

unsecured Indebtedness of any Loan Par
ty owing to employees, former employees, former
officers, directors, or former directors (or any spouses, ex
-
spouses, or estates of any of the foregoing)
incurred in connection with the repurchase or redemption by such Loan Party of the Equity Interests of

ICD
Parent

that has been issued to such Persons permitted by
Section 6.7
,

(m)

Indebtedness evidenced by the 2026 Note Indenture in an aggregate principal amount not
to exceed the amount thereof permitted by the Intercreditor Agreement,

(n)

Indebtedness owed to an
y Person to finance property, casualty, liability or other insurance
to any Loan Party or any of its Subsidiaries, so long as the amount of such Indebtedness is not in excess of
the amount of the unpaid cost of, and shall be incurred only to defer the cost

of, such insurance for the year
in which such Indebtedness is incurred and such Indebtedness is outstanding only during such year,

(o)

the incurrence by any Loan Party or its Subsidiaries of Indebtedness under Hedge
Agreements that is incurred for the bona fi
de purpose of hedging the interest rate, commodity, or foreign
currency risks associated with such Loan Party’s or such Subsidiary’s operations and not for speculative
purposes,

(p)

unsecured Acquired Indebtedness in an amount not to exceed $15,000,000 outstan
ding at
any one time so long as (i) the aggregate annual amortization with respect to such Acquired Indebtedness
does not exceed 2.5% of the principal amount of such Acquired Indebtedness and (ii) such Acquired
Indebtedness does not have any principal paym
ents being made prior to the date that is six (6) months after
the Maturity Date,

(q)

Subordinated Indebtedness
,

and

(r)

any other unsecured Indebtedness of any Borrower or any Subsidiary not covered by
clauses (a) through (o) above in an aggregate principal amoun
t not to exceed $15,000,000.

(s)

the PPP Loan, provided, that,

(i)

in no event shall the principal amount of such Indebtedness exceed $10,000,000,

(ii)

ICD is eligible to receive the PPP Loan as a business concern in accordance with
the terms of Section 1102 of the CARES Act,

(iii)

Borrower shall provide copies of all agreements, documents and instruments that
evidence or set forth any of the terms of th
e PPP Loan to Administrative Agent promptly upon its
receipt of any of them by Borrower, and shall promptly notify Administrative Agent in writing of
the date of the PPP Loan,

	
	
39

(iv)

Borrower shall (A) use the proceeds of the PPP Loan only for the allowable
uses
in accordance with Section 1102 of the CARES Act, and (B) shall maintain such documentation
and take such actions as shall be required (1) to evidence that such proceeds have been used only
for such purposes, and (2) for the forgiveness of all or part

of the amount of the PPP Loan under
Section 1106 of the CARES Act,

(v)

notwithstanding anything to the contrary contained herein, the proceeds of the PPP
Loan shall not be required under Section 5.9 to be paid, and shall not be paid, to a Collection
Acco
unt

(as defined in the Guaranty and Security Agreement)
, but shall be paid to a deposit account
of Borrower at Wells Fargo or a
Cash Management Bank
cash management bank

other than a
Collection Account
(as defined in the Guaranty and Security Agreement)
or
to a deposit account
established at the PPP Lender used exclusively for the receipt and disbursement of the proceeds of
the PPP Loans, and in such event, at any time promptly upon Administrative Agent’s request,
Borrower shall deliver to Administrative Age
nt a Control Agreement with respect thereto as duly
executed and delivered by Borrower and the PPP Lender, but otherwise Borrower shall not be
required to deliver a Control Agreement with respect to such deposit account,

(vi)

promptly after the end of the
Covered Period, but in no event more than 45 days
thereafter, Borrower shall (A) submit an application to the holder of the Indebtedness in respect of
the PPP Loan (or the party servicing the PPP Loan on behalf of the holder of such Indebtedness),
and any
other party required to receive such application, together with all documents required, for
loan forgiveness of the PPP Loan, in accordance with the requirements of Section 1106 of the
CARES Act and (B) deliver written notice to Administrative Agent that s
uch application has been
submitted to such parties, together with such other documents related thereto as Administrative
Agent may request, and

(vii)

on or before the
PPP
Forgiveness Date, Borrower shall provide evidence
reasonably satisfactory to Administ
rative Agent that all or part of the PPP Loan has been forgiven
and Borrower has no further obligations or liabilities in respect thereof.

“
Permitted Intercompany Advances
” means loans made by (a) a Loan Party to another Loan Party,
(b) a Subsidiary of a L
oan Party that is not a Loan Party to another Subsidiary of a Loan Party that is not a
Loan Party, and (c) a Subsidiary of a Loan Party that is not a Loan Party to a Loan Party, so long as the
parties thereto are party to an intercompany subordination agre
ement in form and substance reasonably
satisfactory to Lender.

“
Permitted Investments
” means:

(a)

Investments in cash and Cash Equivalents,

(b)

Investments in negotiable instruments deposited or to be deposited for collection in the
ordinary course of business,

(c)

ad
vances made in connection with purchases and acquisitions of Inventory, supplies,
materials, equipment, goods, services, contract rights, or licenses or leases of intellectual property, in each
case, in the ordinary course of business,

(d)

Investments received

in settlement of amounts due to any Loan Party or any of its
Subsidiaries effected in the ordinary course of business or owing to any Loan Party or any of its Subsidiaries
as a result of Insolvency Proceedings involving an account debtor or upon the forec
losure or enforcement
of any Lien in favor of a Loan Party or its Subsidiaries,

	
	
40

(e)

Investments owned by any Loan Party or any of its Subsidiaries on the Closing Date and
set forth on Schedule P
-
1 to this Agreement,

(f)

guarantees permitted under the definition of “Permitted Indebtedness”,

(g)

Permitted Intercompany Advances,

(h)

Equity Interests or other securities acquired in connection with the satisfaction or
enforcement of Indebtedness or claims due or owing to a Loan Party

or its Subsidiaries (in bankruptcy of
customers or suppliers or otherwise outside the ordinary course of business) or as security for any such
Indebtedness or claims,

(i)

deposits of cash made in the ordinary course of business to secure performance of operat
ing
leases,

(j)

(i) non
-
cash loans and advances to employees, officers, and directors of a Loan Party or
any of its Subsidiaries for the purpose of purchasing Equity Interests in Parent so long as the proceeds of
such loans are used in their entirety to purcha
se such Equity Interests in Parent, and (ii) loans and advances
to employees and officers of a Loan Party or any of its Subsidiaries in the ordinary course of business for
any other business purpose and in an aggregate amount not to exceed $1,000,000 at an
y one time,

(k)

Permitted Acquisitions,

(l)

Investments in the form of capital contributions and the acquisition of Equity Interests
made by any Loan Party in any other Loan Party (other than capital contributions to or the acquisition of
Equity Interests of Paren
t),

(m)

Investments resulting from entering into (i) Bank Product Agreements or (ii) Hedge
Agreements permitted by clause (o) of the definition of “Permitted Indebtedness”,

(n)

equity Investments by any Loan Party in any Subsidiary of such Loan Party which is
requ
ired by law to maintain a minimum net capital requirement or as may be otherwise required by
applicable law,

(o)

Investments held by a Person acquired in a Permitted Acquisition to the extent that such
Investments were not made in contemplation of or in connec
tion with such Permitted Acquisition and were
in existence on the date of such Permitted Acquisition,

(p)

Investments consisting of non
-
cash consideration received in connection with Permitted
Dispositions, so long as the non
-
cash consideration received in co
nnection with any Permitted Disposition
does not exceed 25% of the total consideration received in connection with such Permitted Disposition,

(q)

Investments consisting of the licensing or contribution of intellectual property, in each
case, on a non
-
exclusi
ve basis, pursuant to joint marketing arrangements with other Persons,

(r)

Investments consisting of earnest money deposits required in connection with a purchase
agreement, or letter of intent, or other acquisitions to the extent not otherwise prohibited here
under,

(s)

contributions to a “rabbi” trust for the benefit of employees or other grantor trust subject
to claims of creditors in the case of a bankruptcy of any Loan Party or any of its Subsidiaries,

	
	
41

(t)

so long as no Event of Default has occurred and is continui
ng or would result therefrom,
any other Investments in an aggregate amount not to exceed $5,000,000, and

(u)

other Investments using cash or Cash Equivalents;
provided
,
that
, each of the Payment
Conditions shall be satisfied.

“
Permitted Liens
” means

(a)

Liens gran
ted to, or for the benefit of, Agent to secure the Obligations,

(b)

Liens for unpaid taxes, assessments, or other governmental charges or levies that either (i)
are not yet delinquent, or (ii) do not have priority over Agent’s Liens and the underlying taxes, a
ssessments,
or charges or levies are the subject of Permitted Protests,

(c)

judgment Liens arising solely as a result of the existence of judgments, orders, or awards
that do not constitute an Event of Default under
Section 8.3

of this Agreement,

(d)

Liens set for
th on Schedule P
-
2 to this Agreement; provided, that to qualify as a Permitted
Lien, any such Lien described on Schedule P
-
2 to this Agreement shall only secure the Indebtedness that it
secures on the Closing Date and any Refinancing Indebtedness in respec
t thereof,

(e)

the interests of lessors under operating leases and non
-
exclusive licensors under license
agreements,

(f)

Liens on fixed or capital assets or the interests of lessors under Capital Leases permitted
under clause (c) of the definition of “Permitted In
debtedness” and so long as (i) such Lien attaches only to
the fixed asset purchased or acquired and the proceeds thereof, and (ii) such Lien only secures the
Indebtedness that was incurred to acquire the fixed asset purchased or acquired or any Refinancing

Indebtedness in respect thereof,

(g)

Liens arising by operation of law in favor of warehousemen, landlords, carriers, mechanics,
materialmen, laborers, or suppliers, incurred in the ordinary course of business and not in connection with
the borrowing of money
, and which Liens either (i) are for sums not yet delinquent, or (ii) are the subject
of Permitted Protests,

(h)

Liens on amounts deposited to secure Parent’s and its Subsidiaries’ obligations in
connection with worker’s compensation or other unemployment insu
rance,

(i)

Liens on amounts deposited to secure Parent’s and its Subsidiaries’ obligations in
connection with the making or entering into of bids, tenders, or leases in the ordinary course of business
and not in connection with the borrowing of money,

(j)

Liens on amounts deposited to secure
ICD’s
Parent’s

and its Subsidiaries’ reimbursement
obligations with respect to surety or appeal bonds obtained in the ordinary course of business,

(k)

with respect to any Real Property, easements, rights of way, and zoning r
estrictions that do
not materially interfere with or impair the use or operation thereof,

(l)

non
-
exclusive licenses of patents, trademarks, copyrights, and other intellectual property
rights in the ordinary course of business,

	
	
42

(m)

Liens that are replacements of P
ermitted Liens to the extent that the original Indebtedness
is the subject of permitted Refinancing Indebtedness and so long as the replacement Liens only encumber
those assets that secured the original Indebtedness,

(n)

rights of setoff or bankers’ liens upon

deposits of funds in favor of banks or other
depository institutions, solely to the extent incurred in connection with the maintenance of such Deposit
Accounts in the ordinary course of business,

(o)

Liens solely on any cash earnest money deposits made by a L
oan Party or any of its
Subsidiaries in connection with any letter of intent or purchase agreement with respect to a Permitted
Acquisition,

(p)

Liens on Collateral securing the Indebtedness permitted under clause (m) of the definition
of “Permitted Indebtednes
s” to the extent such Liens are subject to the Intercreditor Agreement, and

(q)

Liens granted in the ordinary course of business on the unearned portion of insurance
premiums securing the financing of insurance premiums to the extent (i) such financing is perm
itted under
clause (n) the definition of “Permitted Indebtedness” and (ii) the aggregate amount of Indebtedness secured
by such Liens does not exceed $5,000,000.

“
Permitted Protest
” means the right of any Loan Party or any of its Subsidiaries to protest an
y Lien
(other than any Lien that secures the Obligations), taxes (other than payroll taxes or taxes that are the subject
of a United States federal tax lien), or rental payment;
provided
, that (a) a reserve with respect to such
obligation is established on

such Loan Party’s or its Subsidiaries’ books and records in such amount as is
required under GAAP, (b) any such protest is instituted promptly and prosecuted diligently by such Loan
Party or its Subsidiary, as applicable, in good faith, and (c) Agent is r
easonably satisfied that, while any
such protest is pending, there will be no impairment of the enforceability, validity, or priority of any of
Agent’s Liens.

“
Permitted Purchase Money Indebtedness
”
means, as of any date of determination, Indebtedness
(oth
er than the Obligations, but including Capitalized Lease Obligations), at the time of, or within 60 days
after, the acquisition of any fixed assets (other than Rig Fleet Equipment) for the purpose of financing all
or any part of the acquisition cost thereo
f, in an aggregate principal amount outstanding not in excess of
$15,000,000 at any one time.

“
Person
” means natural persons, corporations, limited liability companies, unlimited liability
company, limited partnerships, general partnerships, limited liabil
ity partnerships, joint ventures, trusts,
land trusts, business trusts, or other organizations, irrespective of whether they are legal entities, and
governments and agencies and political subdivisions thereof.

“
PPP Forgiveness Date
” means five (5) Business

Days after the date that ICD obtains a final
determination by the PPP Lender (and, to the extent required, the Small Business Administration) (or such
longer period as may be approved in writing by Administrative Agent) regarding the amount of PPP Loan,
i
f any, that will be forgiven pursuant to the provisions of the CARES Act.

“
PPP Lender
” means City Bank.

“
PPP Loan
” means the unsecured Indebtedness in an aggregate principal amount not to exceed
$10,000,000 advanced by PPP Lender, pursuant to the Paycheck
Protection Program under the CARES
Act.

	
	
43

“
PPP Permitted Purposes
” means, with respect to the use of proceeds of any PPP Loan, (i) the
purposes set forth in Section 1106(b) of the CARES Act, (ii) the "Allowable Uses of Covered Loans" set
forth in Section 7(a
)(36)(F) of the Small Business Act and as permitted by the CARES Act and (iii) the
repayment of the PPP Loans.

“
Projections
” means the Loan Parties’ forecasted (a) balance sheets, (b) profit and loss statements,
and (c) cash flow statements, all prepared o
n a basis consistent with Lead Borrower’s historical financial
statements, together with appropriate supporting details and a statement of underlying assumptions.

“
Pro Rata Share
” means, as of any date of determination:

(a)

with respect to a Lender’s obligatio
n to make all or a portion of the Revolving Loans, with
respect to such Lender’s right to receive payments of interest, fees, and principal with respect to the
Revolving Loans, and with respect to all other computations and other matters related to the Com
mitments
or the Revolving Loans, the percentage obtained by dividing (i) the Revolving Loan Exposure of such
Lender, by (ii) the aggregate Revolving Loan Exposure of all Lenders,

(b)

with respect to a Lender’s obligation to participate in the Letters of Credit
, with respect to
such Lender’s obligation to reimburse Issuing Bank, and with respect to such Lender’s right to receive
payments of Letter of Credit Fees, and with respect to all other computations and other matters related to
the Letters of Credit, the p
ercentage obtained by dividing (i) the Revolving Loan Exposure of such Lender,
by (ii) the aggregate Revolving Loan Exposure of all Lenders;
provided
,
that
, if all of the Revolving Loans
have been repaid in full and all Commitments have been terminated, bu
t Letters of Credit remain
outstanding, Pro Rata Share under this clause shall be the percentage obtained by dividing (A) the Letter of
Credit Exposure of such Lender, by (B) the Letter of Credit Exposure of all Lenders, and

(c)

with respect to all other matte
rs and for all other matters as to a particular Lender (including
the indemnification obligations arising under
Section 15.7

of this Agreement), the percentage obtained by
dividing (i) the Revolving Loan Exposure of such Lender, by (ii) the aggregate Revol
ving Loan Exposure
of all Lenders, in any such case as the applicable percentage may be adjusted by assignments permitted
pursuant to
Section 13.1
;
provided
,
that
, if all of the Loans have been repaid in full and all Commitments
have been terminated, Pro R
ata Share under this clause shall be the percentage obtained by dividing (A) the
Letter of Credit Exposure of such Lender, by (B) the Letter of Credit Exposure of all Lenders.

“Projections” means the Loan Parties’ forecasted (a) balance sheets, (b) profit

and loss statements,
and (c) cash flow statements, all prepared on a basis consistent with Lead Borrower’s historical financial
statements, together with appropriate supporting details and a statement of underlying assumptions.

“
Protective Advances
” has t
he meaning specified therefor in
Section 2.3(d)(i)

of this Agreement.

“
Purchase Money Indebtedness
” means Indebtedness (other than the Obligations, but including
Capitalized Lease Obligations), incurred at the time of, or within sixty (60) days after, the
acquisition of
any fixed assets for the purpose of financing all or any part of the acquisition cost thereof.

“
Purchase Price
” means, with respect to any Acquisition, an amount equal to the aggregate
consideration, whether cash, property or securities (inc
luding the maximum amount of Earn
-
Outs), paid or
delivered by a Loan Party in connection with such Acquisition (whether paid at the closing thereof or
payable thereafter and whether fixed or contingent), but excluding therefrom (a) any cash of the seller a
nd
its Affiliates used to fund any portion of such consideration, and (b) any cash or Cash Equivalents acquired
in connection with such Acquisition.

	
	
44

“
QFC
” has the meaning assigned to the term “qualified financial contract” in, and shall be
interpreted in a
ccordance with, 12 U.S.C. § 5390(c)(8)(D).

“
QFC Credit Support
” has the meaning specified therefor in
Section 17.20

of this Agreement.

“
Qualified ECP Guarantor
” means, in respect of any Swap Obligation, each Guarantor that has
total assets exceeding $10,0
00,000 at the time the relevant guaranty, keepwell, or grant of the relevant
security interest becomes effective with respect to such Swap Obligation or such other person as constitutes
an “eligible contract participant” under the Commodity Exchange Act or

any regulations promulgated
thereunder and can cause another person to qualify as an “eligible contract participant” at such time by
entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

“
Qualified Equity Interests
” means
and refers to any Equity Interests issued by Parent (and not by
one or more of its Subsidiaries) that is not a Disqualified Equity Interest.

“
Quarterly Average Excess Availability
” means, at any time, the daily average of the aggregate
amount of the Excess

Availability for the immediately preceding calendar quarter, commencing on the first
day of such calendar quarter.

“
Real Property
” means any estates or interests in real or immovable property now owned or
hereafter acquired by any Loan Party and the
improvements thereto.

“
Receivable Reserves
” means, as of any date of determination, those reserves that
Agent

deems
necessary or appropriate, in its Permitted Discretion and subject to
Section 2.1(c)
, to establish and maintain
(including Landlord Reserves
for books and records locations and reserves for rebates, discounts, warranty
claims, and returns) with respect to the Eligible Accounts

or the Maximum Credit
..

“
Recipient Agent
” means an agent that receives payments on behalf of the Lenders and the
Partici
pants.

“
Record
” means information that is inscribed on a tangible medium or that is stored in an electronic
or other medium and is retrievable in perceivable form.

“
Refinancing
” means, collectively, substantially concurrently with the consummation of the
C
losing Date Merger, the repayment in full of all indebtedness under each of the Existing Credit Facilities,
and the release of any Liens securing such indebtedness;
provided

that the foregoing shall not be construed
to require the termination of any of the

Existing Letters of Credit.

“
Refinancing Indebtedness
” means refinancings, renewals, or extensions of Indebtedness (other
than Indebtedness in respect of the Obligations) so long as:

(a)

such refinancings, renewals, or extensions do not result in an increase
in the principal
amount of the Indebtedness so refinanced, renewed, or extended, other than by the amount of premiums
paid thereon and the fees and expenses incurred in connection therewith and by the amount of unfunded
commitments with respect thereto,

(b)

su
ch refinancings, renewals, or extensions do not result in a shortening of the final maturity
date or the average weighted maturity (measured as of the refinancing, renewal, or extension) of the
Indebtedness so refinanced, renewed, or extended, nor
(except
in the case of Term Loan Indebtedness)
are
they on terms or conditions that, taken as a whole, are or could reasonably be expected to be materially

	
	
45

adverse to the interests of the Lenders nor
(in the case of Term Loan Indebtedness)
are they on terms and
co
nditions which contravene the Intercreditor Agreement,

(c)

if the Indebtedness that is refinanced, renewed, or extended was subordinated in right of
payment to the Obligations, then the terms and conditions of the refinancing, renewal, or extension must
includ
e subordination terms and conditions that are at least as favorable to the Lender Group as those that
were applicable to the refinanced, renewed, or extended Indebtedness,

(d)

the Indebtedness that is refinanced, renewed, or extended is not recourse to any Per
son that
is liable on account of the Obligations other than those Persons which were obligated with respect to the
Indebtedness that was refinanced, renewed, or extended,

(e)

if the Indebtedness that is refinanced, renewed or extended was unsecured, such
refin
ancing, renewal or extension shall be unsecured,

and

(f)

if the Indebtedness
(other than Term Loan Indebtedness)
that is refinanced, renewed, or
extended was secured (i) such refinancing, renewal, or extension shall be secured by substantially the same
or less

collateral as secured such refinanced, renewed or extended Indebtedness on terms no less favorable
to the Agent or the Lender Group, and (ii) the Liens securing such refinancing, renewal or extension shall
not have a priority more senior than the Liens se
curing such Indebtedness that is refinanced, renewed or
extended
;
, and

(g)

if the Indebtedness that is refinanced, renewed or extended was
Term Loan
2026 Notes

Indebtedness, any Liens securing such refinancing, renewal or extension shall be subject to the Inter
creditor
Agreement (or another intercreditor agreement in form and substance acceptable to Agent).

“
Related Fund
” means any Person (other than a natural person) that is engaged in making,
purchasing, holding or investing in bank loans and similar extension
s of credit in the ordinary course and
that is administered, advised or managed by (a) a Lender, (b) an Affiliate of a Lender, or (c) an entity or an
Affiliate of an entity that administers, advises or manages a Lender.

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

“
Remedial Action
” means all actions taken to (a)
clean up, remove, remediate, contain, treat,
monitor, assess, evaluate, or in any way address Hazardous Materials in the indoor or outdoor environment,
(b) prevent or minimize a release or threatened release of Hazardous Materials so they do not migrate or

endanger or threaten to endanger public health or welfare or the indoor or outdoor environment, (c) restore
or reclaim natural resources or the environment, (d) perform any pre
-
remedial studies, investigations, or
post
-
remedial operation and maintenance a
ctivities, or (e) conduct any other actions with respect to
Hazardous Materials required by Environmental Laws.

“
Replacement Lender
” has the meaning specified therefor in
Section 2.13(b)

of this Agreement.

“
Report
” has the meaning specified therefor in
Section 15.16(a)

of this Agreement.

“
Required Lenders
” means, at any time, Lenders having or holding more than fifty percent (50%)
of the aggregate Revolving Loan Exposure of all Lenders;
provided
,
that
, (i) the Revolving Loan Exposure
of any Defaulting Le
nder shall be disregarded in the determination of the Required Lenders, and (ii) at any

	
	
46

time there are two or more Lenders (who are not Affiliates of one another or Defaulting Lenders), “Required
Lenders” must include at least two Lenders (who are not Affi
liates of one another).

“
Reserves
” means, as of any date of determination, Bank Product Reserves, Receivables Reserves,
Dilution Reserve, and those other reserves that Agent deems necessary or appropriate, in its Permitted
Discretion and subject to
Sectio
n 2.1(c)
, to establish and maintain (including reserves with respect to (a)
sums that any Loan Party or its Subsidiaries are required to pay under any Section of this Agreement or any
other Loan Document (such as taxes, assessments, insurance premiums, or,

in the case of leased assets,
rents or other amounts payable under such leases) and has failed to pay, and (b) amounts owing by any
Loan Party or its Subsidiaries to any Person to the extent secured by a Lien on, or trust over, any of the
Collateral (othe
r than a Permitted Lien), which Lien or trust, in the Permitted Discretion of Agent likely
would have a priority superior to Agent’s Liens (such as Liens or trusts in favor of landlords,
warehousemen, carriers, mechanics, materialmen, laborers, or supplier
s, or Liens or trusts for ad valorem,
excise, sales, or other taxes where given priority under applicable law) in and to such item of the Collateral)
with respect to the Borrowing Base or the Maximum Credit.

“Resolution Authority”
means an EEA Resolution A
uthority or, with respect to any UK Financial
Institution, a UK Resolution Authority
..

“
Restricted Payment
” means (a)

any declaration or payment of any dividend or the making of any
other payment or distribution, directly or indirectly, on account of Equity

Interests issued by any Loan Party
or any of its Subsidiaries (including any payment in connection with any merger or consolidation involving
any Loan Party or any of its Subsidiaries) or to the direct or indirect holders of Equity Interests issued by
any

Loan Party or any of its Subsidiaries in their capacity as such (other than dividends or distributions
payable in Qualified Equity Interests issued by any Loan Party or any of its Subsidiaries), or (b)

any
purchase, redemption, making of any sinking fund
or similar payment, or other acquisition or retirement
for value (including in connection with any merger or consolidation involving any Loan Party or any of its
Subsidiaries) any Equity Interests issued by any Loan Party or any of its Subsidiaries, or (c)

any making of
any payment to retire, or to obtain the surrender of, any outstanding warrants, options, or other rights to
acquire Equity Interests of any Loan Party now or hereafter outstanding.

“
Revolver Usage
” means, as of any date of determination, the

sum of (a) the amount of outstanding
Revolving Loans (inclusive of Protective Advances),
plus

(b) the amount of the Letter of Credit Usage.

“
Revolving Loan Exposure
” means, with respect to any
Revolving
Lender, as of any date of
determination (a) prior to

the termination of the Commitments, the amount of such Lender’s Commitment,
and (b) after the termination of the Commitments, the aggregate outstanding principal amount of the
Revolving Loans of such Lender.

“
Revolving Loans
” has the meaning specified in
Section 2.1(a)

of this Agreement.

“
Rig
” means any land
-
based drilling and workover rig owned by
any Loan Party
, together with all
Rig Accessories that are installed on or affixed to such Rig.

“
Rig Accessories
” means pumps, drilling equipment, machinery, eq
uipment, forklifts, bulldozers
and other parts necessary or useful for the drilling operation of any Rig.

“
Rig Fleet Equipment
” means any Loan Party’s Rigs and partial Rigs and any Loan Party’s
Equipment related to such Rigs and partial Rigs.

“S&P” has the

meaning specified therefor in the definition of Cash Equivalents.

	
	
47

“
Sanctioned Entity
” means (a) a country or territory or a government of a country or territory, (b)
an agency of the government of a country or territory, (c) an organization directly or in
directly controlled
by a country or territory or its government, or (d) a Person resident in or determined to be resident in a
country or territory, in each case of clauses (a) through (d) that is a target of Sanctions, including a target
of any country sa
nctions program administered and enforced by OFAC.

“
Sanctioned Person
” means, at any time, (a) any a Person named on the list of Specially Designated
Nationals and Blocked Persons maintained by OFAC, OFAC’s consolidated Non
-
SDN list or any other
Sanctions
-
related list maintained by any relevant Governmental Authority, (b) a Person or legal entity that
is a target of Sanctions, (c) any Person operating, organized or resident in a Sanctioned Entity, or (d) any
Person directly or indirectly owned or controlled

(individually or in the aggregate) by or acting on behalf
of any such Person or Persons described in clauses (a) through (c) above.

“
Sanctions
”
means individually and collectively, respectively, any and all economic sanctions,
trade sanctions, financial
sanctions, sectoral sanctions, secondary sanctions, trade embargoes anti
-
terrorism
laws and other sanctions laws, regulations or embargoes, including those imposed, administered or enforced
from time to time by:

(a) the United States of America, including

those administered by OFAC, the U.S.
Department of State, the U.S. Department of Commerce, or through any existing or future executive order,
(b) the United Nations Security Council, (c) the European Union or any European Union member state, (d)
Her Majes
ty’s Treasury of the United Kingdom, or (e) any other Governmental Authority with jurisdiction
over any member of the Lender Group, Bank Product Provider, Hedge Provider or any Loan Party or any
of their respective Subsidiaries
..

“
S&P
” has the meaning speci
fied therefor in the definition of Cash Equivalents.

“
SEC
” means the United States Securities and Exchange Commission and any successor thereto.

“
Second Amendment Effective Date
” means January 1, 2022.

“
Securities Account
” means a securities account (as t
hat term is defined in the UCC).

“
Securities Act
” means the Securities Act of 1933, as amended from time to time, and any successor
statute.

“
Sellers
” means the owners of the Equity Interests of the Target immediately before giving effect
to the Closing Da
te Merger.

“
Settlement
” has the meaning specified therefor in
Section 2.3(e)(i)

of this Agreement.

“
Settlement Date
” has the meaning specified therefor in
Section 2.3(e)(i)

of this Agreement.

“
Small Business Administration
” means the U.S. Small Business
Administration.

“SOFR” means a rate equal to the secured overnight financing rate as administered by the SOFR
Administrator.

“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator
of the secured overnight financing ra
te).

“SOFR Deadline” has the meaning specified therefor in Section 2.12(b)(i) of this Agreement.

	
	
48

“SOFR Loan” means each portion of a Revolving Loan that bears interest at a rate determined by
reference to Term SOFR (other than pursuant to clause (c) of the

definition of “Base Rate”).

“SOFR Margin”
means the Applicable SOFR Margin as set forth in the definition of the term
Applicable Margin
..

“SOFR Notice” means a written notice in the form of Exhibit L
-
1 to this Agreement.

“SOFR Option” has the meaning speci
fied therefor in Section 2.12(a) of this Agreement.

“
Solvent
” means, with respect to any Person as of any date of determination, that (a) at fair
valuations, the sum of such Person’s debts (including contingent liabilities) is less than all of such Person’
s
assets, (b) such Person is not engaged or about to engage in a business or transaction for which the remaining
assets of such Person are unreasonably small in relation to the business or transaction or for which the
property remaining with such Person is

an unreasonably small capital, (c) such Person has not incurred and
does not intend to incur, or reasonably believe that it will incur, debts beyond its ability to pay such debts
as they become due (whether at maturity or otherwise), and (d) such Person i
s “solvent” or not “insolvent”,
as applicable within the meaning given those terms and similar terms under applicable laws relating to
fraudulent transfers and conveyances.  For purposes of this definition, the amount of any contingent liability
at any tim
e shall be computed as the amount that, in light of all of the facts and circumstances existing at
such time, represents the amount that can reasonably be expected to become an actual or matured liability
(irrespective of whether such contingent liabilitie
s meet the criteria for accrual under Statement of Financial
Accounting Standard No. 5).

“
Special Advances
” has the meaning specified therefor in
Section 2.3(d)(iii)

of this Agreement.

“
Specified Equity Contribution
” means cash equity contributions (which if in the form of preferred
equity shall be on terms and conditions reasonably acceptable to Agent)

made directly or indirectly by a
Person (other than a Loan Party) to Parent as a cash equity contribution in accord
ance with
Section 7.2
,
which equity contribution is added to EBITDA for the purposes of calculating compliance with
Section

7.1
..

“
Specified Event of Default
” means (a)

any Event of Default arising under
Section 8.1

of the
Agreement, (b)

any Event of Defaul
t arising under
Section 8.4

of the Agreement, (c)

any Event of Default
arising under
Section 8.5

of the Agreement, (d) any Event of Default arising under
Section 8.2(a)

of the
Agreement resulting from the failure to comply with
Section 5.2

of the Agreement

(with respect to delivery
of each of the items set forth in clauses (a) through (h) of
Schedule 5.2

to the Agreement), (e)

any Event of
Default arising under
Section 8.2(a)

of the Agreement resulting from the failure to comply with
Section
7(k)

of the Gua
ranty and Security Agreement, (f) any Event of Default arising under
Section 8.2(a)

arising
from the failure to comply with
Section 7

of the Agreement and (g)

any Event of Default arising under
Section 8.7

of the Agreement resulting from any representation

or warranty under
Section 4.22

of the
Agreement being untrue.

“
Specified Representations
” means the representations and warranties made by the Parent and its
Subsidiaries in Section 4.1(a)(i), 4.2(a), 4.2(b)(i) (as it relates to no conflict with the Gover
ning Documents
of any Loan Party and laws or regulations applicable to any Loan Party), 4.2(b)(ii) (as it relates to no conflict
with Material Contracts that relate to Indebtedness), 4.4(a) (in each case, as it relates to the due
authorization, execution,
delivery and performance of the Loan Documents and enforceability thereof),
4.4(b), 4.9, 4.13, 4.16, 4.17 or 4.18 of this Agreement.

“
Standard Letter of Credit Practice
” means, for Issuing Bank, any domestic or foreign law or letter
of credit practices app
licable in the city in which Issuing Bank issued the applicable Letter of Credit or, for

	
	
49

its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed
or negotiated such Letter of Credit, as the case may be,

in each case, (a) which letter of credit practices are
of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit
practices are required or permitted under ISP or UCP, as chosen in the applicable Letter
of Credit.

“
Subordinated Indebtedness
” means any unsecured Indebtedness of Loan Parties incurred from
time to time (a) that is subordinated in right of payment (which, for the avoidance of doubt, shall include a
restriction on all cash payments with respec
t to such Indebtedness) to the Obligations, (b) that is not
guaranteed by any Subsidiaries other than Loan Parties, (c) that is not subject to scheduled amortization,
redemption, sinking fund or similar payment and does not have a final maturity, in each c
ase, on or before
the date that is six months after the Maturity Date, (d) that does not include any financial covenants or any
covenant or agreement that is more restrictive or onerous on any Loan Party in any material respect than
any comparable covenant

in the Agreement and is otherwise on terms and conditions reasonably acceptable
to Agent, (e) limited to cross
-
payment default and cross
-
acceleration to designated “senior debt” (including
the Obligations), and (f) that is subject to a subordination agree
ment, in form and substance reasonably
acceptable to Agent.

“
Subordination Provisions
” has the meaning specified therefor in
Section 8.13

of this Agreement.

“
Subsidiary
” of a Person means a corporation, partnership, limited liability company, or other enti
ty
in which that Person directly or indirectly owns or controls the Equity Interests having ordinary voting
power to elect a majority of the board of directors (or appoint other comparable managers) of such
corporation, partnership, limited liability compa
ny, or other entity.

“
Supermajority Lenders
” means, at any time,
Revolving
Lenders having or holding more than
sixty
-
six and two
-
thirds percent (66 2/3%) of the aggregate Revolving Loan Exposure of all Lenders;
provided
,
that
, (i) the Revolving Loan Exposu
re of any Defaulting Lender shall be disregarded in the
determination of the Supermajority Lenders, and (ii) at any time there are two or more Lenders (who are
not Affiliates of one another), “Supermajority Lenders” must include at least two Lenders (who a
re not
Affiliates of one another or Defaulting Lenders).

“
Supported QFC
” has the meaning specified therefor in
Section 17.20

of this Agreement.

“
Swap Obligation
” means, with respect to any Loan Party, any obligation to pay or perform under
any agreement,
contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the
Commodity Exchange Act.

“
Target
” means Sidewinder Drilling LLC, a Delaware limited liability company.

“Tax Lender” has the meaning specified therefor in Section 1
4.2(a) of this Agreement.

“
Taxes
” means any taxes, levies, imposts, duties, fees, assessments or other charges of whatever
nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority
thereof or therein, and all i
nterest, penalties or additions to tax with respect thereto.

“
Tax Lender
” has the meaning specified therefor in
Section 14.2(a)

of this Agreement.

“
Term Loan Agent
” means U.S. Bank National Association, in its capacity as agent under the Term
Loan
Agreement and the other Term Loan Documents and its successors and assigns, together with any
replacement or successor agent thereunder.

	
	
50

“
Term Loan Agreement
” means the Credit Agreement, dated of even date herewith, by and among
Term Loan Agent, Term Loan
Lenders, Parent and certain of its affiliates (as the same may be subsequently
amended, restated, refinanced, replaced, extended, renewed or restructured in accordance with the
provisions hereof and the terms of the Intercreditor Agreement).

“
Term Loan Doc
uments
” means, collectively, the following; (a) the Term Loan Agreement and (b)
all agreements, documents and instruments at any time executed and/or delivered in connection therewith.

“
Term Loan Lenders
” means those certain financial institutions from tim
e to time party to the Term
Loan Agreement as lenders.

“
Term Priority Collateral
” has the meaning specified therefor in the Intercreditor Agreement.

“
Third Amendment Effective Date
Term SOFR
” means

July 31
,

2022.

(a) for any calculation with respect to a SOFR Loan, Term SOFR Reference Rate for a
tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR
Determination Day”) that is two (2) U.S. Government Securities Business Day
s prior to the first day of
such Interest Period, as such rate is published by Term SOFR Administrator; provided, however, that if as
of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day Term SOFR Reference
Rate for the applicable
tenor has not been published by Term SOFR Administrator and a Benchmark
Replacement Date with respect to Term SOFR Reference Rate has not occurred, then Term SOFR will be
Term SOFR Reference Rate for such tenor as published by Term SOFR Administrator on th
e first preceding
U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was
published by Term SOFR Administrator so long as such first preceding U.S. Government Securities
Business Day is not more than three (3) U.S
.. Government Securities Business Days prior to such Periodic
Term SOFR Determination Day, and

(b) for any calculation with respect to a Base Rate Loan on any day, Term SOFR Reference
Rate for a tenor of one month on the day (such day, the “Base Rate Term S
OFR Determination Day”) that
is two (2) U.S. Government Securities Business Days prior to such day, as such rate is published by Term
SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Base Rate
Term SOFR Determinati
on Day Term SOFR Reference Rate for the applicable tenor has not been published
by Term SOFR Administrator and a Benchmark Replacement Date with respect to Term SOFR Reference
Rate has not occurred, then Term SOFR will be Term SOFR Reference Rate for such
tenor as published by
Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such
Term SOFR Reference Rate for such tenor was published by Term SOFR Administrator so long as such
first preceding U.S. Government Sec
urities Business Day is not more than three (3) U.S. Government
Securities Business Days prior to such Base Rate Term SOFR Determination Day.

“Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a
successor administrator of
Term SOFR Reference Rate selected by Agent in its reasonable discretion).

“Term SOFR Reference Rate” means the forward
-
looking term rate based on SOFR.

“
Trademark Security Agreement
” has the meaning specified therefor in the Guaranty and Security
Agreement
..

“
Transactions
” means, collectively, the Closing Date Merger, the Refinancing,
the credit facility
under the Term Loan Agreement,
the credit facility under this Agreement, the Conversion and Release, and
the other transactions related to the foregoing.

	
	
51

“
U
CC
” means the New York Uniform Commercial Code, as in effect from time to time.

“
UCP
” means, with respect to any Letter of Credit, the Uniform Customs and Practice for
Documentary Credits 2007 Revision, International Chamber of Commerce Publication No. 600

and any
version or revision thereof accepted by Issuing Bank for use.

“UK Financial Institution”
means any BRRD Undertaking (as such term is defined under the PRA
Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regula
tion
Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time)
promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions
and investment firms, and certain affiliate
s of such credit institutions or investment firms
..

“UK Resolution Authority”
means the Bank of England or any other public administrative authority
having responsibility for the resolution of any UK Financial Institution
..

“Unadjusted Benchmark Replacemen
t” means the
applicable
Benchmark Replacement excluding
the
related
Benchmark Replacement Adjustment.

“
Unfinanced Capital Expenditures
”  means Capital Expenditures (a)

not financed with the proceeds
of any incurrence of Indebtedness (other than the incurre
nce of any Revolving Loans), the proceeds of any
sale or issuance of Equity Interests or equity contributions, the proceeds of any asset sale, or any insurance
proceeds, and (b) that are not reimbursed by a third person (excluding any Loan Party or any of
its Affiliates)
in the period such expenditures are made pursuant to a written agreement.

“
United States
” means the United States of America.

“
Unused Line Fee
” has the meaning specified therefor in
Section 2.10(b)

of this Agreement.

“
U.S.
Government Securi
ties Business Day” means any day except for (i) a Saturday, (ii) a Sunday
or (iii) a day on which the Securities Industry and Financial Markets Association, or any successor thereto,
recommends that the fixed income departments of its members be closed for

the entire day for purposes of
trading in United States government securities; provided, that for purposes of notice requirements in
Sections 2.3(a), 2.3(c) and 2.12(b), in each case, such day is also a Business Day.

“
U.S. Special Resolution Regimes
” has
the meaning specified therefor in
Section 17.20

of this
Agreement.

“
Voidable Transfer
” has the meaning specified therefor in
Section 17.8

of this Agreement.

“
Wells Fargo
” means Wells Fargo Bank, National Association, a national banking association.

“
Withdrawal Liability
” means liability to a Multiemployer Plan as a result of a complete or partial
withdrawal from such Multiemployer Plan, as such terms are defined in Title IV of ERISA.

“
Write
-
Down and Conversion Powers
” means,
(a)
with respect to any EE
A Resolution Authority,
the write
-
down and conversion powers of such EEA Resolution Authority from time to time under the Bail
-
In Legislation for the applicable EEA Member Country, which write
-
down and conversion powers are
described in the EU Bail
-
In Legi
slation Schedule
..
, and (b)
with respect to the United Kingdom,  any powers
of the applicable Resolution Authority under the Bail
-
In Legislation to cancel, reduce, modify or change
the form of a liability of any UK Financial Institution or any contract or i
nstrument under which that liability
arises, to convert all or part of that liability into shares, securities or obligations of that person or any other

	
	
52

person, to provide that any such contract or instrument is to have effect as if a right had been exerci
sed
under it or to suspend any obligation in respect of that liability or any of the powers under that Bail
-
In
Legislation that are related to or ancillary to any of those powers
..

1.2

Accounting Terms
..  All accounting terms not specifically defined herein sha
ll be construed
in accordance with GAAP;
provided
,
that
, if Lead Borrower notifies Agent that Borrowers request an
amendment to any provision hereof to eliminate the effect of any Accounting Change occurring after the
Closing Date or in the application the
reof on the operation of such provision (or if Agent notifies Lead
Borrower that the Required Lenders request an amendment to any provision hereof for such purpose),
regardless of whether any such notice is given before or after such Accounting Change or i
n the application
thereof, then Agent and Borrowers agree that they will negotiate in good faith amendments to the provisions
of this Agreement that are directly affected by such Accounting Change with the intent of having the
respective positions of Lende
rs and Borrowers after such Accounting Change conform as nearly as possible
to their respective positions immediately before such Accounting Change took effect and, until any such
amendments have been agreed upon and reasonably agreed to by Agent, the prov
isions in this Agreement
shall be calculated as if no such Accounting Change had occurred. When used herein, the term “financial
statements” shall include the notes and schedules thereto.  Whenever the term “Parent”, “Borrowers” is
used in respect of a fin
ancial covenant or a related definition, it shall be understood to mean the Loan Parties
and their Subsidiaries on a consolidated basis, unless the context clearly requires otherwise.
Notwithstanding anything to the contrary contained herein, all financia
l statements delivered hereunder
shall be prepared, and all financial covenants contained herein shall be calculated, without giving effect to
any election under the Statement of Financial Accounting Standards Board’s Accounting Standards
Codification Topi
c 825 (or any similar accounting principle) permitting a Person to value its financial
liabilities or Indebtedness at the fair value thereof.

1.3

UCC
..  Any terms used in this Agreement that are defined in the UCC, shall be construed
and defined as set forth i
n the UCC unless otherwise defined herein;
provided
,
that
, to the extent that the
UCC is used to define any term herein and such term is defined differently in different Articles of the UCC,
the definition of such term contained in Article 9 of the UCC sha
ll govern.

1.4

Construction
..  Unless the context of this Agreement or any other Loan Document clearly
requires otherwise, references to the plural include the singular, references to the singular include the plural,
the terms “includes” and “including” are no
t limiting, and the term “or” has, except where otherwise
indicated, the inclusive meaning represented by the phrase “and/or.”  The words “hereof,” “herein,”
“hereby,” “hereunder,” and similar terms in this Agreement or any other Loan Document refer to thi
s
Agreement or such other Loan Document, as the case may be, as a whole and not to any particular provision
of this Agreement or such other Loan Document, as the case may be.  Section, subsection, clause, schedule,
and exhibit references herein are to this

Agreement unless otherwise specified.  Any reference in this
Agreement or in any other Loan Document to (i) any agreement, instrument, or document shall include all
alterations, amendments, changes, extensions, modifications, renewals, replacements, subst
itutions,
joinders, and supplements, thereto and thereof, as applicable (subject to any restrictions on such alterations,
amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and
supplements set forth herein), an
d (ii) any law, statute, rule or regulation shall include all statutory and
regulatory provisions consolidating, amending, replacing, supplementing or interpreting such law (it being
understood that nothing in this clause shall give retroactive effect to s
uch consolidation, amendment,
replacement, supplement or interpretation). The words “asset” and “property” shall be construed to have
the same meaning and effect and to refer to any and all tangible and intangible assets and properties.  Any
reference here
in or in any other Loan Document to the satisfaction, repayment, or payment in full of the
Obligations shall mean (a) the payment or repayment in full in immediately available funds of (i) the
principal amount of, and interest accrued and unpaid with respe
ct to, all outstanding Loans, together with
the payment of any premium applicable to the repayment of the Loans, (ii) all Lender Group Expenses that

	
	
53

have accrued and are unpaid regardless of whether demand has been made therefor, and (iii) all fees or
char
ges that have accrued hereunder or under any other Loan Document (including the Letter of Credit Fee
and the Unused Line Fee) and are unpaid, (b) in the case of contingent reimbursement obligations with
respect to Letters of Credit, providing Letter of Cre
dit Collateralization, (c) in the case of obligations with
respect to Bank Products (other than Hedge Obligations), providing Bank Product Collateralization, (d) the
receipt by Agent of cash collateral in order to secure any other contingent Obligations fo
r which a claim or
demand for payment has been made on or prior to such time or in respect of matters or circumstances known
to Agent or a Lender at such time that are reasonably expected to result in any loss, cost, damage, or expense
(including attorneys
’ fees and legal expenses), such cash collateral to be in such amount as Agent
reasonably determines is appropriate to secure such contingent Obligations, (e) the payment or repayment
in full in immediately available funds of all other outstanding Obligati
ons (including the payment of any
termination amount then applicable (or which would or could become applicable as a result of the
repayment of the other Obligations) under Hedge Agreements provided by Hedge Providers) other than (i)
unasserted contingent
indemnification Obligations, (ii) any Bank Product Obligations (other than Hedge
Obligations) that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding
without being required to be repaid or cash collateralized, and (iii
) any Hedge Obligations that, at such time,
are allowed by the applicable Hedge Provider to remain outstanding without being required to be repaid,
and (f) the termination of all of the Commitments of the Lenders.  Any reference herein to any Person shall
be construed to include such Person’s successors and assigns.  Any requirement of a writing contained
herein or in any other Loan Document shall be satisfied by the transmission of a Record.

1.5

Time References
..
Unless the context of this Agreement or any oth
er Loan Document clearly
requires otherwise, all references to time of day refer to Central standard time or Central daylight saving
time, as in effect in Dallas, Texas on such day.

For purposes of the computation of a period of time from a
specified date

to a later specified date, the word “from” means “from and including” and the words “to”
and “until” each means “to and including”;
provided
,
that
, with respect to a computation of fees or interest
payable to Agent or any Lender, such period shall exclude

the first day and include the last day so long as
payment is received on or before the time specified in Section 2.4, but in any event consist of at least one
(1) full day.

1.6

Schedules and Exhibits
..  All of the schedules and exhibits attached to this Agree
ment shall
be deemed incorporated herein by reference.

1.7

Divisions
..  For all purposes under the Loan Documents, in connection with any division or
plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if
any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a
different Person, then it shall be deemed to have been transferred from the original Person to the subsequent
Person, and (b) if any new Person c
omes into existence, such new Person shall be deemed to have been
organized on the first date of its existence by the holders of its Equity Interests at such time.

1.8

Rates
..  Agent does not warrant or accept any responsibility for, and shall not have any
lia
bility with respect to, (a) the continuation of, administration of, submission of, calculation of or any other
matter related to Term SOFR Reference Rate, Term SOFR or any other Benchmark, any component
definition thereof or rates referred to in the defini
tion thereof, or with respect to any alternative, successor
or replacement rate thereto
(including any then
-
current Benchmark or any Benchmark Replacement)
,
including whether the composition or characteristics of any such alternative, successor or replacem
ent rate
(including any Benchmark Replacement), as it may or may not be adjusted pursuant to Section 2.12(d)(iii),
will be similar to, or produce the same value or economic equivalence of, or have the same volume or
liquidity as, Term SOFR Reference Rate,
Term SOFR or any other Benchmark, prior to its discontinuance
or unavailability, or (b) the effect, implementation or composition of any Conforming Changes.  Agent and
its affiliates or other related entities may engage in transactions that affect the calc
ulation of Term SOFR

	
	
54

Reference Rate, Term SOFR, any
alternative, successor or replacement rate

(including any Benchmark
Replacement) or any relevant adjustments thereto and such transactions may be adverse to a Borrower.
Agent may select information sourc
es or services in its reasonable discretion to ascertain Term SOFR
Reference Rate or Term SOFR, or any other Benchmark, any component definition thereof or rates referred
to in the definition thereof, in each case pursuant to the terms of this Agreement, a
nd shall have no liability
to any Borrower, any
Lender

or any other person or entity for damages of any kind, including direct or
indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort,
contract or othe
rwise and whether at law or in equity), for any error or calculation of any such rate (or
component thereof) provided by any such information source or service.

2.

LOANS AND TERMS OF PAYMENT.

2.1

Revolving Loans
..

(a)

Subject to the terms and conditions of this Agree
ment, and during the term of this
Agreement, each Lender agrees (severally, not jointly or jointly and severally) to make revolving loans
(“
Revolving Loans
”) to Borrowers in an amount at any one time outstanding not to exceed the lesser of:

(i)

such Lender’s
Commitment, or

(ii)

such Lender’s Pro Rata Share of an amount equal to the lesser of:

(A)

the amount equal to (1) the Maximum Credit,
less

(2) the Letter of Credit Usage
at such time, and

(B)

the amount equal to (1) the Borrowing Base as of such date,
less

(2) the Lett
er of
Credit Usage at such time.

(b)

Amounts borrowed pursuant to this
Section 2.1

may be repaid and, subject to the terms and
conditions of this Agreement, reborrowed at any time during the term of this Agreement.  The outstanding
principal amount of the Revo
lving Loans, together with interest accrued and unpaid thereon, shall constitute
Obligations and shall be due and payable on the Maturity Date or, if earlier, on the date on which they
otherwise become due and payable pursuant to the terms of this Agreemen
t.  Borrowers hereby jointly and
severally promise to repay all amounts due hereunder with respect to the Revolving Loans.

(c)

Anything to the contrary in this
Section 2.1

notwithstanding, Agent shall have the right
(but not the obligation) at any time, in the

exercise of its Permitted Discretion, to establish and increase or
decrease Reserves against the Borrowing Base or the Maximum Credit.  The amount of any Reserve
established by Agent, and any changes to the eligibility criteria set forth in the definition
s of Eligible
Accounts shall have a reasonable relationship to the event, condition, other circumstance, or fact that is the
basis for such reserve or change in eligibility and shall not be duplicative of any other reserve established
and currently maintai
ned or eligibility criteria.  To the extent that an event, condition or matter as to any
Eligible Accounts is addressed pursuant to the treatment thereof within the applicable definition of such
term, Agent shall not also establish a Reserve to address the

same event, condition or matter.

2.2

Reserved
..

2.3

Borrowing Procedures and Settlements
..

(a)

Procedure for Borrowing Revolving Loans
..  Each Borrowing shall be made by a written
request by an Authorized Person delivered to Agent (which may be delivered through Agent’s

electronic

	
	
55

platform or portal) and received by Agent no later than 11:00 a.m. (i) on the Business Day that is one (1)
Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (ii) on
the
U.S. Government Securitie
s
Business Day that is three (3)
U.S. Government Securities
Business Days
prior to the requested Funding Date in the case of
all other requests
a request for a SOFR Loan
, specifying
(A) the amount of such Borrowing, and (B) the requested Funding Date (which

shall be a Business Day);
provided, that Agent may, in its sole discretion, elect to accept as timely requests that are received later
than 11:00 a.m. on the applicable Business Day

or U.S. Government Securities Business Day, as applicable
..
All Borrowing

requests which are not made on
-
line via Agent’s electronic platform or portal shall be subject
to (and unless Agent elects otherwise in the exercise of its sole discretion, such Borrowings shall not be
made until the completion of) Agent’s authentication
process (with results satisfactory to Agent) prior to
the funding of any such requested Revolving Loan.

(b)

[Reserved].

(c)

Making of Revolving Loans
..

(i)

After receipt of a request for a Borrowing pursuant to
Section 2.3(a)(i)
, Agent shall
notify the Lenders by telecopy, telephone, email, or other electronic form of transmission, of the requested
Borrowing; such notification to be sent on the Business Day
or U.S. Government Securities Business Day,
as applicable,
that is (A) in

the case of a Base Rate Loan, at least one (1) Business Day prior to the requested
Funding Date, or (B) in the case of a
LIBOR Rate
SOFR

Loan, prior to 11:00 a.m. at least three (3)
U.S.
Government Securities
Business Days prior to the requested Funding Da
te.  If Agent has notified the
Lenders of a requested Borrowing on the Business Day that is one (1) Business Day prior to the Funding
Date, then each Lender shall make the amount of such Lender’s Pro Rata Share of the requested Borrowing
available to Agent

in immediately available funds, to Agent’s Account, not later than 10:00 a.m. on the
Business Day that is the requested Funding Date.  After Agent’s receipt of the proceeds of such Revolving
Loans from the Lenders, Agent shall make the proceeds thereof av
ailable to Borrowers on the applicable
Funding Date by transferring immediately available funds equal to such proceeds received by Agent to the
Designated Account;
provided
,
that
, subject to the provisions of
Section 2.3(d)(ii)
, no Lender shall have an
obl
igation to make any Revolving Loan, if (1) one or more of the applicable conditions precedent set forth
in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such
condition has been waived, or (2) as of the da
te of the requested Borrowing and after giving effect thereto,
the Revolver Usage would exceed the lesser of the Borrowing Base or the Maximum Credit.

(ii)

Unless Agent receives notice from a Lender prior to 9:30 a.m. on the Business Day
that is the requested F
unding Date relative to a requested Borrowing as to which Agent has notified the
Lenders of a requested Borrowing that such Lender will not make available as and when required hereunder
to Agent for the account of Borrowers the amount of that Lender’s Pro
Rata Share of the Borrowing, Agent
may assume that each Lender has made or will make such amount available to Agent in immediately
available funds on the Funding Date and Agent may (but shall not be so required), in reliance upon such
assumption, make avai
lable to Borrowers a corresponding amount.  If, on the requested Funding Date, any
Lender shall not have remitted the full amount that it is required to make available to Agent in immediately
available funds and if Agent has made available to Borrowers suc
h amount on the requested Funding Date,
then such Lender shall make the amount of such Lender’s Pro Rata Share of the requested Borrowing
available to Agent in immediately available funds, to Agent’s Account, no later than 10:00 a.m. on the
Business Day th
at is the first Business Day after the requested Funding Date (in which case, the interest
accrued on such Lender’s portion of such Borrowing for the Funding Date shall be for Agent’s separate
account).  If any Lender shall not remit the full amount that i
t is required to make available to Agent in
immediately available funds as and when required hereby and if Agent has made available to Borrowers
such amount, then that Lender shall be obligated to immediately remit such amount to Agent, together with
inter
est at the Defaulting Lender Rate for each day until the date on which such amount is so remitted.  A

	
	
56

notice submitted by Agent to any Lender with respect to amounts owing under this
Section 2.3(c)(ii)

shall
be conclusive, absent manifest error.  If the am
ount that a Lender is required to remit is made available to
Agent, then such payment to Agent shall constitute such Lender’s Revolving Loan for all purposes of this
Agreement.  If such amount is not made available to Agent on the Business Day following th
e Funding
Date, Agent will notify Lead Borrower of such failure to fund and, upon demand by Agent, Borrowers shall
pay such amount to Agent for Agent’s account, together with interest thereon for each day elapsed since
the date of such Borrowing, at a rate

per annum equal to the interest rate applicable at the time to the
Revolving Loans composing such Borrowing.

(d)

Protective Advances and Optional Overadvances
..

(i)

Any contrary provision of this Agreement or any other Loan Document
notwithstanding, but subject to

Section 2.3(d)(iv)
, at any time (A) after the occurrence and during the
continuance of a Default or an Event of Default, or (B) that any of the other applicable conditions precedent
set forth in
Section 3

are not satisfied, Agent hereby is authorized by B
orrowers and the Lenders, from time
to time, in Agent’s sole discretion, to make Revolving Loans to, or for the benefit of, Borrowers, on behalf
of the Lenders, that Agent, in its Permitted Discretion, deems necessary or desirable (1) to preserve or
protec
t the Collateral, or any portion thereof, or (2) to enhance the likelihood of repayment of the
Obligations (other than the Bank Product Obligations) (the Revolving Loans described in this
Section
2.3(d)(i)

shall be referred to as “
Protective Advances
”).  N
otwithstanding the foregoing, the aggregate
amount of all Protective Advances outstanding at any one time shall not exceed ten percent (10%) of the
Maximum Credit.

(ii)

Any contrary provision of this Agreement or any other Loan Document
notwithstanding, but sub
ject to
Section 2.3(d)(iv)
, the Lenders hereby authorize Agent, and Agent may, but
is not obligated to, knowingly and intentionally, continue to make Revolving Loans to Borrowers
notwithstanding that an Overadvance exists or would be created thereby, so lo
ng as (A) after giving effect
to such Revolving Loans, the outstanding Revolver Usage does not exceed the Borrowing Base by more
than ten percent (10%) of the Maximum Credit, and (B) after giving effect to such Revolving Loans, the
outstanding Revolver Usa
ge (except for and excluding amounts charged to the Loan Account for interest,
fees, or Lender Group Expenses) does not exceed the Maximum Credit.  In the event Agent obtains actual
knowledge that the Revolver Usage exceeds the amounts permitted by the imm
ediately foregoing
provisions, regardless of the amount of, or reason for, such excess, Agent shall notify the Lenders as soon
as practicable (and prior to making any (or any additional) intentional Overadvances (except for and
excluding amounts charged to

the Loan Account for interest, fees, or Lender Group Expenses) unless Agent
determines that prior notice would result in imminent harm to the Collateral or its value, in which case
Agent may make such Overadvances and provide notice as promptly as practic
able thereafter), and the
Lenders thereupon shall, together with Agent, jointly determine the terms of arrangements that shall be
implemented with Borrowers intended to reduce, within a reasonable time, the outstanding principal amount
of the Revolving Loa
ns to Borrowers to an amount permitted by the preceding sentence.  In such
circumstances, if any Lender with a Commitment objects to the proposed terms of reduction or repayment
of any Overadvance, the terms of reduction or repayment thereof shall be imple
mented according to the
determination of the Required Lenders.  The foregoing provisions are meant for the benefit of the Lenders
and Agent and are not meant for the benefit of Borrowers, which shall continue to be bound by the
provisions of
Section 2.4(e)
..  Each Lender shall be obligated to settle with Agent as provided in
Section
2.3(e)

(or
Section 2.3(g)
, as applicable) for the amount of such Lender’s Pro Rata Share of any unintentional
Overadvances by Agent reported to such Lender, any intentional Overa
dvances made as permitted under
this
Section 2.3(d)(ii)
, and any Overadvances resulting from the charging to the Loan Account of interest,
fees, or Lender Group Expenses.

	
	
57

(iii)

Each Protective Advance and each Overadvance (each, a “
Special Advance
”) shall
be dee
med to be a Revolving Loan hereunder, except that no Special Advance shall be eligible to be a
LIBOR Rate
SOFR

Loan and, prior to Settlement therefor, all payments on the Special Advances shall be
payable to Agent solely for its own account.  The Special Ad
vances shall be repayable on demand, secured
by Agent’s Liens, constitute Obligations hereunder, and bear interest at the rate applicable from time to
time to Revolving Loans that are Base Rate Loans.  The provisions of this
Section 2.3(d)

are for the
excl
usive benefit of Agent and the Lenders and are not intended to benefit Borrowers (or any other Loan
Party) in any way.

(iv)

Notwithstanding anything contained in this Agreement or any other Loan Document
to the contrary: (A) no Special Advance may be made by
Agent if such Special Advance would cause the
aggregate principal amount of Special Advances outstanding to exceed an amount equal to ten percent
(10%) of the Maximum Credit; and (B) to the extent that the making of any Special Advance causes the
aggregate

Revolver Usage to exceed the Maximum Credit, such portion of such Special Advance shall be
for Agent’s sole and separate account and not for the account of any Lender and shall be entitled to priority
in repayment in accordance with
Section 2.4(b)
..

(e)

Settle
ment
..  It is agreed that each Lender’s funded portion of the Revolving Loans is
intended by the Lenders to equal, at all times, such Lender’s Pro Rata Share of the outstanding Revolving
Loans.  Such agreement notwithstanding, Agent, and the other Lenders a
gree (which agreement shall not
be for the benefit of Borrowers) that in order to facilitate the administration of this Agreement and the other
Loan Documents, settlement among the Lenders as to the Revolving Loans (including Special Advances)
shall take p
lace on a periodic basis in accordance with the following provisions:

(i)

Agent shall request settlement (“
Settlement
”) with the Lenders on a weekly basis, or
on a more frequent basis if so determined by Agent in its sole discretion (A) for itself, with respec
t to the
outstanding Special Advances, and (B) with respect to any Loan Party’s or any of their Subsidiaries’
payments or other amounts received, as to each by notifying the Lenders by telecopy, telephone, or other
similar form of transmission, of such req
uested Settlement, no later than 2:00 p.m. on the Business Day
immediately prior to the date of such requested Settlement (the date of such requested Settlement being the
“
Settlement Date
”).  Such notice of a Settlement Date shall include a summary stateme
nt of the amount of
outstanding Revolving Loans (including Special Advances) for the period since the prior Settlement Date.
Subject to the terms and conditions contained herein (including
Section 2.3(g)
):  (1) if the amount of the
Revolving Loans (including Special Advances) made by a Lender that is not a Defaulting Lender exceeds
such Lender’s Pro Rata Share of the Revolving Loans (including Special Advances) as of a Settlement
Date, then Agent shall, b
y no later than 12:00 p.m. on the Settlement Date, transfer in immediately available
funds to a Deposit Account of such Lender (as such Lender may designate), an amount such that each such
Lender shall, upon receipt of such amount, have as of the Settlemen
t Date, its Pro Rata Share of the
Revolving Loans (including Special Advances), and (2) if the amount of the Revolving Loans (including
Special Advances) made by a Lender is less than such Lender’s Pro Rata Share of the Revolving Loans
(including Special A
dvances) as of a Settlement Date, such Lender shall no later than 12:00 p.m. on the
Settlement Date transfer in immediately available funds to
The Agent Payment
the Agent’s

Account, an
amount such that each such Lender shall, upon transfer of such amount, h
ave as of the Settlement Date, its
Pro Rata Share of the Revolving Loans (including Special Advances).  Such amounts made available to
Agent under clause (2) of the immediately preceding sentence shall be applied against the amounts of the
applicable Speci
al Advances shall constitute Revolving Loans of such Lenders.  If any such amount is not
made available to Agent by any Lender on the Settlement Date applicable thereto to the extent required by
the terms hereof, Agent shall be entitled to recover for its
account such amount on demand from such
Lender together with interest thereon at the Defaulting Lender Rate.

	
	
58

(ii)

In determining whether a Lender’s balance of the Revolving Loans (including
Special Advances) is less than, equal to, or greater than such Lender’s

Pro Rata Share of the Revolving
Loans (including Special Advances) as of a Settlement Date, Agent shall, as part of the relevant Settlement,
apply to such balance the portion of payments actually received in good funds by Agent with respect to
principal,
interest, fees payable by Borrowers and allocable to the Lenders hereunder, and proceeds of
Collateral.

(iii)

Between Settlement Dates, Agent, to the extent Special Advances are outstanding,
may pay over to Agent, as applicable, any payments or other amounts rec
eived by Agent, that in accordance
with the terms of this Agreement would be applied to the reduction of the Revolving Loans, for application
to the Special Advances.  During the period between Settlement Dates, Agent with respect to Special
Advances, and
each Lender with respect to the Revolving Loans, shall be entitled to interest at the
applicable rate or rates payable under this Agreement on the daily amount of funds employed by Agent, or
the Lenders, as applicable.

(iv)

Anything in this
Section 2.3(e)

to th
e contrary notwithstanding, in the event that a
Lender is a Defaulting Lender, Agent shall be entitled to refrain from remitting settlement amounts to the
Defaulting Lender and, instead, shall be entitled to elect to implement the provisions set forth in
S
ection
2.3(g)
..

(f)

Notation
..  Consistent with
Section 13.1
, Agent, as a non
-
fiduciary agent for Borrowers,
shall maintain a register showing the principal amount and stated interest of the Revolving Loans owing to
each Lender, including Special Advances owing
to Agent, and the interests therein of each Lender, from
time to time and such register shall, absent manifest error, conclusively be presumed to be correct and
accurate.

(g)

Defaulting Lenders
..

(i)

Notwithstanding the provisions of
Section 2.4(b)(iii)
, Agent shal
l not be obligated to
transfer to a Defaulting Lender any payments made by Borrowers to Agent for the Defaulting Lender’s
benefit or any proceeds of Collateral that would otherwise be remitted hereunder to the Defaulting Lender,
and, in the absence of such

transfer to the Defaulting Lender, Agent shall transfer any such payments (A)
first, to Agent to the extent of any Special Advances that were made by Agent and that were required to be,
but were not, paid by Defaulting Lender, (B) second, to Issuing Bank,

to the extent of the portion of a Letter
of Credit Disbursement that was required to be, but was not, paid by the Defaulting Lender, (C) third, to
each Non
-
Defaulting Lender ratably in accordance with their Commitments (but, in each case, only to the
exte
nt that such Defaulting Lender’s portion of a Revolving Loan (or other funding obligation) was funded
by such other Non
-
Defaulting Lender), (D) fourth, in Agent’s sole discretion, to a suspense account
maintained by Agent, the proceeds of which shall be re
tained by Agent and may be made available to be
re
-
advanced to or for the benefit of Borrowers (upon the request of Borrowers and subject to the conditions
set forth in
Section 3.2
) as if such Defaulting Lender had made its portion of Revolving Loans (or o
ther
funding obligations) hereunder, and (E) fifth, from and after the date on which all other Obligations have
been paid in full, to such Defaulting Lender in accordance with tier (M) of
Section 2.4(b)(iii)
..  Subject to
the foregoing, Agent may hold and,
in its discretion, re
-
lend to Borrowers for the account of such Defaulting
Lender the amount of all such payments received and retained by Agent for the account of such Defaulting
Lender.  Solely for the purposes of voting or consenting to matters with res
pect to the Loan Documents
(including the calculation of Pro Rata Share in connection therewith) and for the purpose of calculating the
fee payable under
Section 2.10(b)
, such Defaulting Lender shall be deemed not to be a “Lender” and such
Lender’s Commitm
ent shall be deemed to be zero;
provided
,
that
, the foregoing shall not apply to any of
the matters governed by
Section 14.1(a)(i)

through
(iii)
..  The provisions of this
Section 2.3(g)

shall remain
effective with respect to such Defaulting Lender until the

earlier of (1) the date on which all of the Non
-

	
	
59

Defaulting Lenders, Agent, Issuing Bank, and Borrowers shall have waived, in writing, the application of
this
Section 2.3(g)

to such Defaulting Lender, or (2) the date on which such Defaulting Lender makes
p
ayment of all amounts that it was obligated to fund hereunder, pays to Agent all amounts owing by
Defaulting Lender in respect of the amounts that it was obligated to fund hereunder, and, if requested by
Agent, provides adequate assurance of its ability to

perform its future obligations hereunder (on which
earlier date, so long as no Event of Default has occurred and is continuing, any remaining cash collateral
held by Agent pursuant to
Section 2.3(g)(ii)

shall be released to Borrowers).  The operation of t
his
Section
2.3(g)

shall not be construed to increase or otherwise affect the Commitment of any Lender, to relieve or
excuse the performance by such Defaulting Lender or any other Lender of its duties and obligations
hereunder, or to relieve or excuse the
performance by any Borrower of its duties and obligations hereunder
to Agent, Issuing Bank, or to the Lenders other than such Defaulting Lender.  Any failure by a Defaulting
Lender to fund amounts that it was obligated to fund hereunder shall constitute a
material breach by such
Defaulting Lender of this Agreement and shall entitle Borrowers, at their option, upon written notice to
Agent, to arrange for a substitute Lender to assume the Commitment of such Defaulting Lender, such
substitute Lender to be reas
onably acceptable to Agent.  In connection with the arrangement of such a
substitute Lender, the Defaulting Lender shall have no right to refuse to be replaced hereunder, and agrees
to execute and deliver a completed form of Assignment and Acceptance in fa
vor of the substitute Lender
(and agrees that it shall be deemed to have executed and delivered such document if it fails to do so) subject
only to being paid its share of the outstanding Obligations (other than Bank Product Obligations, but
including (1)
all interest, fees, and other amounts that may be due and payable in respect thereof, and (2)
an assumption of its Pro Rata Share of its participation in the Letters of Credit);
provided
,
that
, any such
assumption of the Commitment of such Defaulting Lende
r shall not be deemed to constitute a waiver of
any of the Lender Groups’ or Borrowers’ rights or remedies against any such Defaulting Lender arising out
of or in relation to such failure to fund.  In the event of a direct conflict between the priority pro
visions of
this
Section 2.3(g)

and any other provision contained in this Agreement or any other Loan Document, it is
the intention of the parties hereto that such provisions be read together and construed, to the fullest extent
possible, to be in concert w
ith each other.  In the event of any actual, irreconcilable conflict that cannot be
resolved as aforesaid, the terms and provisions of this
Section 2.3(g)

shall control and govern.

(ii)

If any Letter of Credit is outstanding at the time that a Lender becomes a
Defaulting
Lender then:

(A)

such Defaulting Lender’s Letter of Credit Exposure shall be reallocated among
the Non
-
Defaulting Lenders in accordance with their respective Pro Rata Shares but only to the extent (1)
the sum of all Non
-
Defaulting Lenders’ Pro Rata
Share of Revolver Usage plus such Defaulting Lender’s
Letter of Credit Exposure does not exceed the total of all Non
-
Defaulting Lenders’ Commitments and (2)
the conditions set forth in
Section 3.2

are satisfied at such time;

(B)

if the reallocation described
in clause (A) above cannot, or can only partially, be
effected, Borrowers shall within one Business Day following notice by the Agent
cash collateralize such
Defaulting Lender’s Letter of Credit Exposure,
pursuant to a cash collateral agreement to be enter
ed into in
form and substance reasonably satisfactory to the Agent, for so long as such Letter of Credit Exposure is
outstanding;
provided
,
that
, Borrowers shall not be obligated to cash collateralize any Defaulting Lender’s
Letter of Credit Exposure if
such Defaulting Lender is also Issuing Bank;

(C)

if Borrowers cash collateralize any portion of such Defaulting Lender’s Letter of
Credit Exposure pursuant to this
Section 2.3(g)(ii)
, Borrowers shall not be required to pay any Letter of
Credit Fees to Agent fo
r the account of such Defaulting Lender pursuant to
Section 2.6(b)

with respect to
such cash collateralized portion of such Defaulting Lender’s Letter of Credit Exposure during the period
such Letter of Credit Exposure is cash collateralized;

	
	
60

(D)

to the extent

the Letter of Credit Exposure of the Non
-
Defaulting Lenders is
reallocated pursuant to this
Section 2.3(g)(ii)
, then the Letter of Credit Fees payable to the Non
-
Defaulting
Lenders pursuant to
Section 2.6(b)

shall be adjusted in accordance with such Non
-
D
efaulting Lenders’
Letter of Credit Exposure;

(E)

to the extent any Defaulting Lender’s Letter of Credit Exposure is neither cash
collateralized nor reallocated pursuant to this
Section 2.3(g)(ii)
, then, without prejudice to any rights or
remedies of Issuing B
ank or any Lender hereunder, all Letter of Credit Fees that would have otherwise been
payable to such Defaulting Lender under
Section 2.6(b)

with respect to such portion of such Letter of Credit
Exposure shall instead be payable to Issuing Bank until such
portion of such Defaulting Lender’s Letter of
Credit Exposure is cash collateralized or reallocated;

(F)

so long as any Lender is a Defaulting Lender, Issuing Bank shall not be required
to issue, amend, or increase any Letter of Credit, in each case, to the ex
tent (x) the Defaulting Lender’s Pro
Rata Share of Letter of Credit cannot be reallocated pursuant to this
Section 2.3(g)(ii)
, or (y) the Issuing
Bank has not otherwise entered into arrangements reasonably satisfactory to the Issuing Bank and
Borrowers to
eliminate the Issuing Bank’s risk with respect to the Defaulting Lender’s participation in
Letters of Credit; and

(G)

Agent may release any cash collateral provided by Borrowers pursuant to this
Section 2.3(g)(ii)

to Issuing Bank and Issuing Bank may apply any

such cash collateral to the payment of
such Defaulting Lender’s Pro Rata Share of any Letter of Credit Disbursement that is not reimbursed by
Borrowers pursuant to
Section 2.11(d)
..  Subject to
Section 17.14
, no reallocation hereunder shall constitute
a wa
iver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender
having become a Defaulting Lender, including any claim of a Non
-
Defaulting Lender as a result of such
Non
-
Defaulting Lender’s increased exposure follow
ing such reallocation.

(h)

Independent Obligations
..  All Revolving Loans (other than Special Advances) shall be
made by the Lenders contemporaneously and in accordance with their Pro Rata Shares.  It is understood
that (i) no Lender shall be responsible for an
y failure by any other Lender to perform its obligation to make
any Revolving Loan (or other extension of credit) hereunder, nor shall any Commitment of any Lender be
increased or decreased as a result of any failure by any other Lender to perform its obli
gations hereunder,
and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from
its obligations hereunder.

(i)

Loan Management Service.

If Borrowers and Agent have separately agreed that
Borrowers may use the Loan
Management Service (and such agreement is still in effect), Borrowers shall
not request and Agent shall no longer honor a request for a Borrowing made in accordance with
Section
2.3(a)
, and all Borrowings will instead be initiated by Agent and credited to
the applicable Designated
Account as Borrowings as of the end of each Business Day in an amount sufficient to maintain an agreed
upon ledger balance in the applicable Designated Account, subject only to the limitations provided in
Section 2.1
..  If Agent te
rminates Borrowers’ access to the Loan Management Service, Borrowers may
continue to request Borrowings as provided in
Section 2.3(a)
, subject to the other terms and conditions of
this Agreement.  Agent shall have no obligation to make a Borrowing through
the Loan Management
Service after the occurrence and during the continuance of a Default or an Event of Default, or in an amount
in excess of the limitations provided in
Section 2.1
, and may terminate the Loan Management Service at
any time in its sole dis
cretion.

2.4

Payments; Reductions of Commitments; Prepayments
..

(a)

Payments by Borrowers
..

	
	
61

(i)

Except as otherwise expressly provided herein, all payments by Borrowers shall be
made to Agent’s Account for the account of the Lender Group and shall be made in immediately

available
funds, no later than 1:30 p.m. on the date specified herein
; provided that, for the avoidance of doubt, any
payments deposited into a Controlled Account (as defined in the Guaranty and Security Agreement) shall
be deemed not to be received by Ag
ent on any Business Day unless immediately available funds have been
credited to Agent’s Account prior to 1:30 p.m. on such Business Day
..  Any payment received by Agent
later than 1:30 p.m. shall be deemed to have been received (unless Agent, in its sole d
iscretion, elects to
credit it on the date received) on the following Business Day and any applicable interest or fee shall continue
to accrue until such following Business Day.

(ii)

Unless Agent receives notice from Borrowers prior to the date on which any pay
ment
is due to the Lenders that Borrowers will not make such payment in full as and when required, Agent may
assume that Borrowers have made (or will make) such payment in full to Agent on such date in immediately
available funds and Agent may (but shall n
ot be so required), in reliance upon such assumption, distribute
to each Lender on such due date an amount equal to the amount then due such Lender.  If and to the extent
Borrowers do not make such payment in full to Agent on the date when due, each Lender

severally shall
repay to Agent on demand such amount distributed to such Lender, together with interest thereon at the
Defaulting Lender Rate for each day from the date such amount is distributed to such Lender until the date
repaid.

(b)

Apportionment and App
lication
..

(i)

So long as no Application Event has occurred and is continuing and except as
otherwise provided herein with respect to Defaulting Lenders, all principal and interest payments received
by Agent shall be apportioned ratably among the Lenders
(according to the unpaid principal balance of the
Obligations to which such payments relate held by each Lender) and all payments of fees and expenses
received by Agent (other than fees or expenses that are for Agent’s separate account or for the separate
account of Issuing Bank) shall be apportioned ratably among the Lenders having a Pro Rata Share of the
type of Commitment or Obligation to which a particular fee or expense relates.

(ii)

Subject to
Section 2.4(b)(v)

and
Section 2.4(e)
, all payments to be made h
ereunder
by Borrowers shall be remitted to Agent and all such payments, and all proceeds of Collateral received by
Agent, shall be applied, so long as no Application Event has occurred and is continuing and except as
otherwise provided herein with respect
to Defaulting Lenders, to reduce the balance of the Revolving Loans
outstanding and, thereafter, to Borrowers (to be wired to the Designated Account) or such other Person
entitled thereto under applicable law.

(iii)

At any time that an Application Event has occu
rred and is continuing and except as
otherwise provided herein with respect to Defaulting Lenders, all payments remitted to Agent and all
proceeds of Collateral received by Agent shall be applied as follows:

(A)

first
, to pay any Lender Group Expenses (includi
ng cost or expense
reimbursements) or indemnities then due to Agent under the Loan Documents and to pay interest and
principal on Special Advances that are held solely by Agent pursuant to the terms of
Section 2.3(d)(iv)
,
until paid in full,

(B)

second
, to pay

any fees or premiums then due to Agent under the Loan
Documents, until paid in full,

(C)

third
, to pay interest due in respect of all Protective Advances, until paid in full,

	
	
62

(D)

fourth
, to pay the principal of all Protective Advances, until paid in full,

(E)

fifth
,
ratably, to pay any Lender Group Expenses (including cost or expense
reimbursements) or indemnities then due to any of Lenders under the Loan Documents, until paid in full,

(F)

sixth
, ratably, to pay any fees or premiums then due to any of Lenders under the
Lo
an Documents, until paid in full,

(G)

[Reserved],

(H)

[Reserved],

(I)

ninth
, ratably, to pay interest accrued in respect of the Revolving Loans (other
than Protective Advances), until paid in full,

(J)

tenth
, ratably

(1)

ratably, to pay the principal of all Revolving Loans, u
ntil paid in full,

(2)

to Agent, to be held by Agent, for the benefit of Issuing Bank (and for the
ratable benefit of each of t Lenders that have an obligation to pay to Agent, for the account of Issuing Bank,
a share of each Letter of Credit Disbursement), as

cash collateral in an amount up to one hundred five
percent (105%) of the Letter of Credit Usage (to the extent permitted by applicable law, such cash collateral
shall be applied to the reimbursement of any Letter of Credit Disbursement as and when such d
isbursement
occurs and, if a Letter of Credit expires undrawn, the cash collateral held by Agent in respect of such Letter
of Credit shall, to the extent permitted by applicable law, be reapplied pursuant to this
Section 2.4(b)(iii)
,
beginning with tier (A
) hereof),

(3)

up to the amount (after taking into account any amounts previously paid
pursuant to this clause (3) during the continuation of the applicable Application Event) of the most recently
established Bank Product Reserve to (y) the Bank Product Provid
ers based upon amounts then certified by
the applicable Bank Product Provider to Agent (in form and substance satisfactory to Agent) to be due and
payable to such Bank Product Providers on account of Bank Product Obligations of Borrowers, and (z) with
any
balance to be paid to Agent, to be held by Agent, for the ratable benefit of the Bank Product Providers,
as cash collateral, which cash collateral may be released by Agent to the applicable Bank Product Provider
and applied by such Bank Product Provider to

the payment or reimbursement of any amounts due and
payable with respect to Bank Product Obligations owed by any Loan Party to the applicable Bank Product
Provider as and when such amounts first become due and payable and, if and at such time as all such
Bank
Product Obligations are paid or otherwise satisfied in full, the cash collateral held by Agent in respect of
such Bank Product Obligations shall be reapplied pursuant to this
Section 2.4(b)(iii)
, beginning with tier
(A) hereof,

(K)

eleventh
, to pay any ot
her Obligations other than Obligations owed to Defaulting
Lenders (including being paid, ratably, to the Bank Product Providers on account of all amounts then due
and payable in respect of Bank Product Obligations, with any balance to be paid to Agent, to
be held by
Agent, for the ratable benefit of the Bank Product Providers, as cash collateral (which cash collateral may
be released by Agent to the applicable Bank Product Provider and applied by such Bank Product Provider
to the payment or reimbursement of

any amounts due and payable with respect to Bank Product Obligations
owed to the applicable Bank Product Provider as and when such amounts first become due and payable
and, if and at such time as all such Bank Product Obligations are paid or otherwise sat
isfied in full, the cash

	
	
63

collateral held by Agent in respect of such Bank Product Obligations shall be reapplied pursuant to this
Section 2.4(b)(iii)
, beginning with tier (A) hereof),

(L)

twelfth
, ratably to pay any Obligations owed to Defaulting Lenders; and

(M)

thirteenth
, to Borrowers (to be wired to the Designated Account) or such other
Person entitled thereto under applicable law.

(iv)

Agent promptly shall distribute to each Lender, pursuant to the applicable wire
instructions received from each Lender in writing,
such funds as it may be entitled to receive, subject to a
Settlement delay as provided in
Section 2.3(e)
..

(v)

In each instance, so long as no Application Event has occurred and is continuing,
Section 2.4(b)(iii)

shall not apply to any payment made by Borrowers

to Agent and specified by Lead
Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any
provision of this Agreement or any other Loan Document.

(vi)

For purposes of
Section 2.4(b)(iii)
, “paid in full” of a type of O
bligation means
payment in cash or immediately available funds of all amounts owing on account of such type of Obligation,
including interest accrued after the commencement of any Insolvency Proceeding, default interest, interest
on interest, and expense r
eimbursements, irrespective of whether any of the foregoing would be or is
allowed or disallowed in whole or in part in any Insolvency Proceeding.

(vii)

In the event of a direct conflict between the priority provisions of this
Section 2.4

and
any other provision

contained in this Agreement or any other Loan Document, it is the intention of the
parties hereto that such provisions be read together and construed, to the fullest extent possible, to be in
concert with each other.  In the event of any actual, irreconci
lable conflict that cannot be resolved as
aforesaid, if the conflict relates to the provisions of
Section 2.3(g)

and this
Section 2.4
, then the provisions
of
Section 2.3(g)

shall control and govern, and if otherwise, then the terms and provisions of this
S
ection
2.4

shall control and govern.

(c)

Reduction of Commitments
..  The Commitments shall terminate on the Maturity Date or
earlier termination thereof pursuant to the terms of this Agreement.  Borrowers may reduce the
Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (i)

the Revolver Usage as of such date, plus (ii) the principal amount of all Revolving Loans not yet made as
to which a request has been given by Borrowers under
Section 2.3(a)
, plus (iii) the amount of all Letters of
Credit not yet issued as to which a requ
est has been given by Borrowers pursuant to
Section 2.11(a)
..  Each
such reduction shall be in an amount which is not less than $5,000,000 (unless the Commitments are being
reduced to zero and the amount of the Commitments in effect immediately prior to suc
h reduction are less
than $5,000,000), shall be made by providing not less than ten (10) Business Days prior written notice to
Agent, and shall be irrevocable.  The Commitments, once reduced, may not be increased.  Each such
reduction of the Commitments sh
all reduce the Commitments of each Lender proportionately in accordance
with its ratable share thereof.  In connection with any reduction in the Commitments prior to the Maturity
Date, if any Loan Party or any of its Subsidiaries owns any Margin Stock, Bor
rowers shall deliver to Agent
an updated Form U
-
1 (with sufficient additional originals thereof for each Lender), duly executed and
delivered by the Borrowers, together with such other documentation as Agent shall reasonably request, in
order to enable Age
nt and the Lenders to comply with any of the requirements under Regulations T, U or
X of the Federal Reserve Board.

(d)

Optional Prepayments
..  Borrowers may prepay the principal of any Revolving Loan at
any time in whole or in part, without premium or penalty.

	
	
64

(e)

Mandatory Prepayments
..

(i)

Borrowing Base
..  If, at any time, (A) the Revolver Usage on such date exceeds (B)
the lesser of (1) the Borrowing Base as then in effect, or (2) the Maximum Credit, then Borrowers shall
promptly, but in any event within two (2) Busi
ness Days of the earlier of (1) any Borrower having
knowledge after due inquiry of the existence thereof; or (2) receiving notice of the existence thereof, prepay
in accordance with
Section 2.4(f)(i)

an aggregate amount equal to the amount of such excess,
without
premium or penalty.

(ii)

Equity Cure.

Within one (1) Business Day after the date of receipt by any Loan
Party of the proceeds of any Specified Equity Contribution pursuant to
Section 7.2
, Borrowers shall prepay
or repay the Obligations in accordance wi
th
Section 2.4(f)

in an amount equal to one hundred percent
(100%) of such proceeds.

(iii)

Collections
..  If a Cash Dominion Event has occurred and is continuing and subject
to the terms of the Intercreditor Agreement, all proceeds of Collateral will be applied t
o prepay the
Obligations in accordance with
Section 2.4(f)
..

(f)

Application of Payments
..  Each prepayment pursuant to
Section 2.4(e)

shall, (i) so long
as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding princip
al
amount of the Revolving Loans until paid in full, and second, to cash collateralize the Letters of Credit in
an amount equal to one hundred five percent (105%) of the then outstanding Letter of Credit Usage, and
(ii) if an Application Event shall have o
ccurred and be continuing, be applied in the manner set forth in
Section 2.4(b)(iii)
..

2.5

Promise to Pay; Promissory Notes
..

(a)

Promise to Pay
..  Borrowers jointly and severally agree to pay Lender Group Expenses
incurred promptly and, in any event, within three (3
) Business Days of receipt of notice thereof by Agent
(it being acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to
any Loan Account pursuant to the provisions of
Section 2.6(d)

shall be deemed to constitute notice

by
Agent and prompt payment by Borrowers for the purposes of this
Section 2.5(a))
..  Borrowers jointly and
severally promise to pay all of the Obligations (including principal, interest, premiums, if any, fees, costs,
and expenses (including Lender Group E
xpenses)) in full on the Maturity Date or, if earlier, on the date on
which such Obligations (other than the Bank Product Obligations) become due and payable pursuant to the
terms of this Agreement.  Borrowers agree that their obligations contained in the
first sentence of this
Section 2.5(a)

shall survive payment or satisfaction in full of all other Obligations.

(b)

Promissory Notes
..  Any Lender may request that any portion of its Commitments or the
Loans made by it be evidenced by one or more promissory notes
..  In such event, Borrowers shall execute
and deliver to such Lender the requested promissory notes payable to the order of such Lender in a form
furnished by Agent and reasonably satisfactory to Borrowers.  Thereafter, the portion of the Commitments
and L
oans evidenced by such promissory notes and interest thereon shall at all times be represented by one
or more promissory notes in such form payable to the order of the payee named therein.

2.6

Interest Rates and Letter of Credit Fee: Rates, Payments, and Calcu
lations
..

(a)

Interest Rates
..  Except as provided in
Section 2.6(c)
, all Obligations (except for undrawn
Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest
on the Daily Balance thereof as follows:

	
	
65

(i)

if the relevant Obligation is a
LIBOR Rate
SOFR

Loan, at a per annum rate equal to
the LIBOR Rate
Term SOFR

plus

the
LIBOR Rate
SOFR

Margin, and

(ii)

otherwise, at a per annum rate equal to the Base Rate
plus

the Base Rate Margin.

(b)

Letter of Credit Fee
..  Subject to

Section 2.6(c)
, Borrowers shall pay Agent (for the ratable
benefit of the
Revolving
Lenders), a Letter of Credit fee (the “
Letter of Credit Fee
”) (which fee shall be in
addition to the fronting fees and commissions, other fees, charges and expenses set fo
rth in Section 2.11(k))
that shall accrue at a per annum rate equal to the
LIBOR Rate
SOFR

Margin
times the
times the average
amount of the Letter of Credit Usage during the immediately preceding month.

(c)

Default Rate
..  Upon the occurrence and during the cont
inuation of an Event of Default
and at the election of Agent or Required Lenders,

(i)

all Obligations (except for undrawn Letters of Credit) that have been charged to any
Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereo
f at a per annum
rate equal to two (2) percentage points above the per annum rate otherwise applicable hereunder, and

(ii)

the Letter of Credit Fees shall be increased to two (2) percentage points above the per
annum rate otherwise applicable hereunder.

(d)

Payment
..  Except to the extent provided to the contrary in
Section 2.10
,
Section 2.11(k)

or
Section 2.12(a)
, (i) all interest and all other fees payable hereunder or under any of the other Loan
Documents (other than Letter of Credit Fees) shall be due and payable
, in arrears, on the first day of each
month, (ii) all Letter of Credit Fees payable hereunder, and all fronting fees and all commissions, other
fees, charges and expenses provided for in
Section 2.11(k)

shall be due and payable, in arrears, on the first
B
usiness Day of each month, and (iii) all costs and expenses payable hereunder or under any of the other
Loan Documents, and all other Lender Group Expenses shall be due and payable on the earlier of (A) the
first day of the month following the date on whic
h the applicable costs, expenses, or Lender Group Expenses
were first incurred, or (B) the date on which demand therefor is made by Agent (it being acknowledged and
agreed that any charging of such costs, expenses or Lender Group Expenses to the Loan Accou
nt pursuant
to the provisions of the following sentence shall be deemed to constitute a demand for payment thereof for
the purposes of this subclause (B)).  Borrowers hereby authorize Agent, from time to time without prior
notice to Borrowers, to charge to

the Loan Account (A) on the first day of each month, all interest accrued
during the prior month on the Revolving Loans, (B) on the first Business Day of each month, all Letter of
Credit Fees accrued or chargeable hereunder during the prior month, (C) as
and when incurred or accrued,
all fees and costs provided for in
Section 2.10(a)

or
(c)
, (D) on the first day of each month, the Unused Line
Fee accrued during the prior month pursuant to
Section 2.10(b)
, (E) as and when due and payable, all other
fees pay
able hereunder or under any of the other Loan Documents, (F) as and when incurred or accrued, all
other Lender Group Expenses, and (G) as and when due and payable all other payment obligations payable
under any Loan Document or any Bank Product Agreement (
including any amounts due and payable to the
Bank Product Providers in respect of Bank Products).  All amounts (including interest, fees, costs, expenses,
Lender Group Expenses, or other amounts payable hereunder or under any other Loan Document or under
a
ny Bank Product Agreement) charged to the Loan Account shall thereupon constitute Revolving Loans
hereunder, shall constitute Obligations hereunder, and shall initially accrue interest at the rate then
applicable to Revolving Loans that are Base Rate Loans

(unless and until converted into
LIBOR Rate
SOFR

Loans in accordance with the terms of this Agreement).

(e)

Computation
..  All interest and fees chargeable under the Loan Documents shall be
computed on the basis of a 360 day year, in each case, for the actual n
umber of days elapsed in the period
during which the interest or fees accrue.  In the event the Base Rate is changed from time to time hereafter,

	
	
66

the rates of interest hereunder based upon the Base Rate automatically and immediately shall be increased
or d
ecreased by an amount equal to such change in the Base Rate.

(f)

Intent to Limit Charges to Maximum Lawful Rate
..  In no event shall the interest rate or
rates payable under this Agreement, plus any other amounts paid in connection herewith, exceed the highest
rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem
applicable.  Borrowers and the Lender Group, in executing and delivering this Agreement, intend legally
to agree upon the rate or rates of interest
and manner of payment stated within it;
provided
,
that
, anything
contained herein to the contrary notwithstanding, if such rate or rates of interest or manner of payment
exceeds the maximum allowable under applicable law, then, ipso facto, as of the date o
f this Agreement,
Borrowers are and shall be liable only for the payment of such maximum amount as is allowed by law, and
payment received from Borrowers in excess of such legal maximum, whenever received, shall be applied
to reduce the principal balance o
f the Obligations to the extent of such excess.

(g)

Term SOFR Conforming Changes
.. In connection with the use or administration of Term
SOFR, Agent will have the right to make Conforming Changes from time to time and, notwithstanding
anything to the contrary he
rein or in any other Loan Document, any amendments implementing such
Conforming Changes will become effective without any further action or consent of any other party to this
Agreement or any other Loan Document. Agent will promptly notify Administrative B
orrower and the
Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of
Term SOFR.

2.7

Crediting Payments
..  The receipt of any payment item by Agent shall not be required to be
considered a payment on account unless such payment item is a wire transfer of immediately available
funds made to Agent’s Account or unless and until such payment item is honored when

presented for
payment.  Should any payment item not be honored when presented for payment, then Borrowers shall be
deemed not to have made such payment.  Anything to the contrary contained herein notwithstanding, any
payment item shall be deemed received
by Agent only if it is received into Agent’s Account on a Business
Day on or before 1:30 p.m.  If any payment item is received into Agent’s Account on a non
-
Business Day
or after 1:30 p.m. on a Business Day (unless Agent, in its sole discretion, elects to
credit it on the date
received), it shall be deemed to have been received by Agent as of the opening of business on the
immediately following Business Day.

2.8

Designated Account
..  Agent is authorized to make the Revolving Loans, and Issuing Bank
is authorize
d to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions
received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to
Section
2.6(d)
..  Borrowers agree to establish and maintai
n the Designated Account with the Designated Account
Bank for the purpose of receiving the proceeds of the Revolving Loans requested by Borrowers and made
by Agent or the Lenders hereunder.  Unless otherwise agreed by Agent and Borrowers, any Revolving Loa
n
requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated
Account.

2.9

Maintenance of Loan Account; Statements of Obligations
..  Agent shall maintain an
account on its books in the name of Borrowers (the “Loan Account”
) on which Borrowers will be charged
with all Revolving Loans (including Special Advances) made by Agent or the Lenders to Borrowers or for
Borrowers’ account, the Letters of Credit issued or arranged by Issuing Bank for Borrowers’ account, and
with all ot
her payment Obligations hereunder or under the other Loan Documents, including, accrued
interest, fees and expenses, and Lender Group Expenses.  In accordance with Section 2.7, the Loan Account
will be credited with all payments received by Agent from Borr
owers or for Borrowers’ account.  Agent
shall make available to Borrowers monthly statements regarding the Loan Account, including the principal
amount of the Revolving Loans, interest accrued hereunder, fees accrued or charged hereunder or under the

	
	
67

other

Loan Documents, and a summary itemization of all charges and expenses constituting Lender Group
Expenses accrued hereunder or under the other Loan Documents, and each such statement, absent manifest
error, shall be conclusively presumed to be correct and
accurate and constitute an account stated between
Borrowers and the Lender Group unless, within thirty (30) days after Agent first makes such a statement
available to Borrowers, Borrowers shall deliver to Agent written objection thereto describing the erro
r or
errors contained in such statement.

2.10

Fees
..

(a)

Agent Fees
..  Borrowers shall, and hereby jointly and severally agree to, pay to Agent, for
the account of Agent, as and when due and payable under the terms of the Fee Letter, the fees set forth in
the Fee L
etter.

(b)

Unused Line Fee
..  Borrowers shall, and hereby jointly and severally agree to, pay to
Agent, for the ratable account of Lenders, an unused line fee (the “
Unused Line Fee
”) in an amount equal
to the 0.375% (or 0.25% at any time when Revolver Usage is
greater fifty percent (50%) of the Maximum
Credit) per annum times the result of (i) the Maximum Credit, less (ii) the average daily amount of the
Revolver Usage during the immediately preceding month (or portion thereof), which Unused Line Fee shall
be du
e and payable in arrears on the first day of each month from and after the Closing Date up to the first
day of the month prior to the date on which the Obligations are paid in full and on the date on which the
Obligations are paid in full.

(c)

Field Examinati
on and Other Fees
..  Borrowers shall pay to Agent, subject to the
limitations set forth in
Section 5.7
, field examination fees and charges, as and when incurred or chargeable,
as follows (i) a fee of $1,000 per day, per field examiner, plus documented out
-
o
f
-
pocket expenses
(including travel, meals, and lodging) for each field examination of Borrowers performed by personnel
employed by Agent and (ii) the documented fees or charges paid or incurred by Agent if it elects to employ
the services of one or more t
hird Persons to perform field examinations of Loan Parties, to establish
electronic collateral reporting systems, to appraise the Collateral, or any portion thereof, or to assess
Borrowers’ business valuation.  All amounts due and owing under this
clause (
c)

shall constitute part of the
Obligations.

2.11

Letters of Credit
..

(a)

Subject to the terms and conditions of this Agreement, upon the request of Borrowers made
in accordance herewith, and prior to the Maturity Date, Issuing Bank agrees to issue requested standby

Letters of Credit or sight commercial Letters of Credit for the account of Borrowers.  By submitting a
request to Issuing Bank for the issuance of a Letter of Credit, Borrowers shall be deemed to have requested
that Issuing Bank issue the requested Letter

of Credit.  Each request for the issuance of a Letter of Credit,
or the amendment, renewal, or extension of any outstanding Letter of Credit, shall be (i) irrevocable and
made in writing by an Authorized Person, (ii) delivered to Agent and Issuing Bank vi
a telefacsimile or other
electronic method of transmission reasonably acceptable to Agent and Issuing Bank and reasonably in
advance of the requested date of issuance, amendment, renewal, or extension, and (iii) subject to Issuing
Bank’s authentication pro
cedures with results satisfactory to Issuing Bank.  Each such request shall be in
form and substance reasonably satisfactory to Agent and Issuing Bank and (i) shall specify (A) the amount
of such Letter of Credit, (B) the date of issuance, amendment, renew
al, or extension of such Letter of Credit,
(C) the proposed expiration date of such Letter of Credit, (D) the name and address of the beneficiary of
the Letter of Credit, and (E) such other information (including, the conditions to drawing, and, in the cas
e
of an amendment, renewal, or extension, identification of the Letter of Credit to be so amended, renewed,
or extended) as shall be necessary to prepare, amend, renew, or extend such Letter of Credit, and (ii) shall
be accompanied by such Issuer Documents

as Agent or Issuing Bank may request or require, to the extent

	
	
68

that such requests or requirements are consistent with the Issuer Documents that Issuing Bank generally
requests for Letters of Credit in similar circumstances.  Issuing Bank’s records of the
content of any such
request will be conclusive.  Anything contained herein to the contrary notwithstanding, Issuing Bank may,
but shall not be obligated to, issue a Letter of Credit that supports the obligations of a Loan Party or one of
its Subsidiaries i
n respect of (x) a lease of real property to the extent that the face amount of such Letter of
Credit exceeds the highest rent (including all rent
-
like charges) payable under such lease for a period of one
year, or (y) an employment contract to the extent
that the face amount of such Letter of Credit exceeds the
highest compensation payable under such contract for a period of one year.

(b)

Issuing Bank shall have no obligation to issue a Letter of Credit if any of the following
would result after giving effect
to the requested issuance:

(i)

the Letter of Credit Usage would exceed the Letter of Credit Sublimit, or

(ii)

the Letter of Credit Usage would exceed the Maximum Credit less the outstanding
amount of Revolving Loans, or

(iii)

the Letter of Credit Usage would exceed the B
orrowing Base at such time less the
outstanding principal balance of the Revolving Loans at such time.

(c)

In the event there is a Defaulting Lender as of the date of any request for the issuance of a
Letter of Credit, Issuing Bank shall not be required to iss
ue or arrange for such Letter of Credit to the extent
(i) the Defaulting Lender’s Letter of Credit Exposure with respect to such Letter of Credit may not be
reallocated pursuant to
Section 2.3(g)(ii)
, or (ii) Issuing Bank has not otherwise entered into arr
angements
reasonably satisfactory to it and Borrowers to eliminate Issuing Bank’s risk with respect to the participation
in such Letter of Credit of the Defaulting Lender, which arrangements may include Borrowers cash
collateralizing such Defaulting Lender
’s Letter of Credit Exposure in accordance with
Section 2.3(g)(ii)
..
Additionally, Issuing Bank shall have no obligation to issue or extend a Letter of Credit if (A) any order,
judgment, or decree of any Governmental Authority or arbitrator shall, by its t
erms, purport to enjoin or
restrain Issuing Bank from issuing such Letter of Credit, or any law applicable to Issuing Bank or any
request or directive (whether or not having the force of law) from any Governmental Authority with
jurisdiction over Issuing B
ank shall prohibit or request that Issuing Bank refrain from the issuance of letters
of credit generally or such Letter of Credit in particular, or (B) the issuance of such Letter of Credit would
violate one or more policies of Issuing Bank applicable to l
etters of credit generally.

(d)

Any Issuing Bank (other than Wells Fargo or any of its Affiliates) shall notify Agent in
writing no later than the Business Day prior to the Business Day on which such Issuing Bank issues any
Letter of Credit.  In addition, each

Issuing Bank (other than Wells Fargo or any of its Affiliates) shall, on
the first Business Day of each week, submit to Agent a report detailing the daily undrawn amount of each
Letter of Credit issued by such Issuing Bank during the prior calendar week.

Each Letter of Credit shall be
in form and substance reasonably acceptable to Issuing Bank, including the requirement that the amounts
payable thereunder must be payable in Dollars.  If Issuing Bank makes a payment under a Letter of Credit,
Borrowers shal
l pay to Agent an amount equal to the applicable Letter of Credit Disbursement on the
Business Day such Letter of Credit Disbursement is made and, in the absence of such payment, the amount
of the Letter of Credit Disbursement immediately and automatically

shall be deemed to be a Revolving
Loan hereunder (notwithstanding any failure to satisfy any condition precedent set forth in
Section 3
) and,
initially, shall bear interest at the rate then applicable to Revolving Loans that are Base Rate Loans. If a
Lett
er of Credit Disbursement is deemed to be a Revolving Loan hereunder, Borrowers’ obligation to pay
the amount of such Letter of Credit Disbursement to Issuing Bank shall be automatically converted into an
obligation to pay the resulting Revolving Loan.  Pr
omptly following receipt by Agent of any payment from
Borrowers pursuant to this paragraph, Agent shall distribute such payment to Issuing Bank or, to the extent

	
	
69

that Lenders have made payments pursuant to
Section 2.11(e)

to reimburse Issuing Bank, then to

such
Lenders and Issuing Bank as their interests may appear.

(e)

Promptly following receipt of a notice of a Letter of Credit Disbursement pursuant to
Section 2.11(d)
, each Lender agrees to fund its Pro Rata Share of any Revolving Loan deemed made
pursuant to

Section 2.11(d)

on the same terms and conditions as if Borrowers had requested the amount
thereof as a Revolving Loan and Agent shall promptly pay to Issuing Bank the amounts so received by it
from the
Revolving
Lenders.  By the issuance of a Letter of Cr
edit (or an amendment, renewal, or extension
of a Letter of Credit) and without any further action on the part of Issuing Bank or the Lenders, Issuing
Bank shall be deemed to have granted to each Lender, and each Lender shall be deemed to have purchased,
a

participation in each Letter of Credit issued by Issuing Bank, in an amount equal to its Pro Rata Share of
such Letter of Credit, and each such
Revolving
Lender agrees to pay to Agent, for the account of Issuing
Bank, such Lender’s Pro Rata Share of any L
etter of Credit Disbursement made by Issuing Bank under the
applicable Letter of Credit.  In consideration and in furtherance of the foregoing, each Lender hereby
absolutely and unconditionally agrees to pay to Agent, for the account of Issuing Bank, such
Lender’s Pro
Rata Share of each Letter of Credit Disbursement made by Issuing Bank and not reimbursed by Borrowers
on the date due as provided in
Section 2.11(d)
, or of any reimbursement payment that is required to be
refunded (or that Agent or Issuing Ban
k elects, based upon the advice of counsel, to refund) to Borrowers
for any reason.  Each Lender acknowledges and agrees that its obligation to deliver to Agent, for the account
of Issuing Bank, an amount equal to its respective Pro Rata Share of each Lett
er of Credit Disbursement
pursuant to this
Section 2.11(e)

shall be absolute and unconditional and such remittance shall be made
notwithstanding the occurrence or continuation of an Event of Default or Default or the failure to satisfy
any condition set fo
rth in
Section 3
..  If any such Lender fails to make available to Agent the amount of such
Lender’s Pro Rata Share of a Letter of Credit Disbursement as provided in this Section, such Lender shall
be deemed to be a Defaulting Lender and Agent (for the accou
nt of Issuing Bank) shall be entitled to recover
such amount on demand from such Lender together with interest thereon at the Defaulting Lender Rate
until paid in full.

(f)

Each Borrower agrees to indemnify, defend and hold harmless each member of the Lender
G
roup (including Issuing Bank and its branches, Affiliates, and correspondents) and each such Person’s
respective directors, officers, employees, attorneys and agents (each, including Issuing Bank, a “Letter of
Credit Related Person”) (to the fullest extent

permitted by law) from and against any and all claims,
demands, suits, actions, investigations, proceedings, liabilities, fines, costs, penalties, and damages, and all
reasonable fees and disbursements of attorneys, experts, or consultants and all other c
osts and expenses
actually incurred in connection therewith or in connection with the enforcement of this indemnification (as
and when they are incurred and irrespective of whether suit is brought), which may be incurred by or
awarded against any such Lett
er of Credit Related Person (other than Taxes, which shall be governed by
Section 16) (the “Letter of Credit Indemnified Costs”), and which arise out of or in connection with, or as
a result of:

(i)

any Letter of Credit or any pre
-
advice of its issuance;

(ii)

any t
ransfer, sale, delivery, surrender or endorsement (or lack thereof) of any
Drawing Document at any time(s) held by any such Letter of Credit Related Person in connection with any
Letter of Credit;

(iii)

any action or proceeding arising out of, or in connection w
ith, any Letter of Credit
(whether administrative, judicial or in connection with arbitration), including any action or proceeding to
compel or restrain any presentation or payment under any Letter of Credit, or for the wrongful dishonor of,
or honoring a
presentation under, any Letter of Credit;

	
	
70

(iv)

any independent undertakings issued by the beneficiary of any Letter of Credit;

(v)

any unauthorized instruction or request made to Issuing Bank in connection with any
Letter of Credit or requested Letter of Credit, or

any error, omission, interruption or delay in such instruction
or request, whether transmitted by mail, courier, electronic transmission, SWIFT, or any other
telecommunication including communications through a correspondent;

(vi)

an adviser, confirmer or
other nominated person seeking to be reimbursed,
indemnified or compensated;

(vii)

any third party seeking to enforce the rights of an applicant, beneficiary, nominated
person, transferee, assignee of Letter of Credit proceeds or holder of an instrument or docum
ent;

(viii)

the fraud, forgery or illegal action of parties other than the Letter of Credit Related
Person;

(ix)

any prohibition on payment or delay in payment of any amount payable by Issuing
Bank to a beneficiary or transferee beneficiary of a Letter of Credit arisi
ng out of Anti
-
Corruption Laws,
Anti
-
Money Laundering Laws, or Sanctions;

(x)

Issuing Bank’s performance of the obligations of a confirming institution or entity
that wrongfully dishonors a confirmation;

(xi)

any foreign language translation provided to Issuing Ba
nk in connection with any
Letter of Credit;

(xii)

any foreign law or usage as it relates to Issuing Bank’s issuance of a Letter of Credit
in support of a foreign guaranty including without limitation the expiration of such guaranty after the related
Letter of
Credit expiration date and any resulting drawing paid by Issuing Bank in connection therewith; or

(xiii)

the acts or omissions, whether rightful or wrongful, of any present or future de jure
or de facto governmental or regulatory authority or cause or event beyo
nd the control of the Letter of Credit
Related Person;

provided
, that such indemnity shall not be available to any Letter of Credit Related Person claiming
indemnification under clauses (i) through (x) above to the extent that such Letter of Credit Indemni
fied
Costs may be finally determined in a final, non
-
appealable judgment of a court of competent jurisdiction to
have resulted directly from the gross negligence or willful misconduct of the Letter of Credit Related Person
claiming indemnity.  Borrowers he
reby agree to pay the Letter of Credit Related Person claiming indemnity
on demand from time to time all amounts owing under this
Section 2.11(f)
..  If and to the extent that the
obligations of Borrowers under this
Section 2.11(f)

are unenforceable for any
reason, Borrowers agree to
make the maximum contribution to the Letter of Credit Indemnified Costs permissible under applicable
law.  This indemnification provision shall survive termination of this Agreement and all Letters of Credit.

(g)

The liability of Iss
uing Bank (or any other Letter of Credit Related Person) under, in
connection with or arising out of any Letter of Credit (or pre
-
advice), regardless of the form or legal grounds
of the action or proceeding, shall be limited to direct damages suffered by B
orrowers that are caused directly
by Issuing Bank’s gross negligence or willful misconduct in (i) honoring a presentation under a Letter of
Credit that on its face does not at least substantially comply with the terms and conditions of such Letter of
Credi
t, (ii) failing to honor a presentation under a Letter of Credit that strictly complies with the terms and
conditions of such Letter of Credit, or (iii) retaining Drawing Documents presented under a Letter of Credit.

	
	
71

Borrowers’ aggregate remedies against
Issuing Bank and any Letter of Credit Related Person for wrongfully
honoring a presentation under any Letter of Credit or wrongfully retaining honored Drawing Documents
shall in no event exceed the aggregate amount paid by Borrowers to Issuing Bank in resp
ect of the honored
presentation in connection with such Letter of Credit under
Section 2.11(d)
,
plus

interest at the rate then
applicable to Base Rate Loans hereunder.  Borrowers shall take action to avoid and mitigate the amount of
any damages claimed aga
inst Issuing Bank or any other Letter of Credit Related Person, including by
enforcing its rights against the beneficiaries of the Letters of Credit.  Any claim by Borrowers under or in
connection with any Letter of Credit shall be reduced by an amount equ
al to the sum of (x) the amount (if
any) saved by Borrowers as a result of the breach or alleged wrongful conduct complained of, and (y) the
amount (if any) of the loss that would have been avoided had Borrowers taken all reasonable steps to
mitigate any l
oss, and in case of a claim of wrongful dishonor, by specifically and timely authorizing Issuing
Bank to effect a cure.

(h)

Borrowers are responsible for the final text of the Letter of Credit as issued by Issuing
Bank, irrespective of any assistance Issuing B
ank may provide such as drafting or recommending text or
by Issuing Bank’s use or refusal to use text submitted by Borrowers.  Borrowers understand that the final
form of any Letter of Credit may be subject to such revisions and changes as are deemed neces
sary or
appropriate by Issuing Bank, and Borrowers hereby consent to such revisions and changes not materially
different from the application executed in connection therewith.  Borrowers are solely responsible for the
suitability of the Letter of Credit fo
r Borrowers’ purposes.  If Borrowers request Issuing Bank to issue a
Letter of Credit for an affiliated or unaffiliated third party (an “
Account Party
”), (i) such Account Party
shall have no rights against Issuing Bank; (ii) Borrowers shall be responsible
for the application and
obligations under this Agreement; and (iii) communications (including notices) related to the respective
Letter of Credit shall be among Issuing Bank and Borrowers.  Borrowers will examine the copy of the
Letter of Credit and any ot
her documents sent by Issuing Bank in connection therewith and shall promptly
notify Issuing Bank (not later than three (3) Business Days following Borrowers’ receipt of documents from
Issuing Bank) of any non
-
compliance with Borrowers’ instructions and of

any discrepancy in any document
under any presentment or other irregularity.  Borrowers understand and agree that Issuing Bank is not
required to extend the expiration date of any Letter of Credit for any reason.  With respect to any Letter of
Credit cont
aining an “automatic amendment” to extend the expiration date of such Letter of Credit, Issuing
Bank, in its sole and absolute discretion, may give notice of nonrenewal of such Letter of Credit and, if
Borrowers do not at any time want the then current exp
iration date of such Letter of Credit to be extended,
Borrowers will so notify Agent and Issuing Bank at least 30 calendar days before Issuing Bank is required
to notify the beneficiary of such Letter of Credit or any advising bank of such non
-
extension pu
rsuant to
the terms of such Letter of Credit.

(i)

Borrowers’ reimbursement and payment obligations under this
Section 2.11

are absolute,
unconditional and irrevocable and shall be performed strictly in accordance with the terms of this
Agreement under any and
all circumstances whatsoever, including:

(i)

any lack of validity, enforceability or legal effect of any Letter of Credit, any Issuer
Document, this Agreement, or any Loan Document, or any term or provision therein or herein;

(ii)

payment against presentation of an
y draft, demand or claim for payment under any
Drawing Document that does not comply in whole or in part with the terms of the applicable Letter of
Credit or which proves to be fraudulent, forged or invalid in any respect or any statement therein being
unt
rue or inaccurate in any respect, or which is signed, issued or presented by a Person or a transferee of
such Person purporting to be a successor or transferee of the beneficiary of such Letter of Credit;

(iii)

Issuing Bank or any of its branches or Affiliates b
eing the beneficiary of any Letter
of Credit;

	
	
72

(iv)

Issuing Bank or any correspondent honoring a drawing against a Drawing Document
up to the amount available under any Letter of Credit even if such Drawing Document claims an amount in
excess of the amount avail
able under the Letter of Credit;

(v)

the existence of any claim, set
-
off, defense or other right that any Loan Party or any
of its Subsidiaries may have at any time against any beneficiary or transferee beneficiary, any assignee of
proceeds, Issuing Bank or an
y other Person;

(vi)

Issuing Bank or any correspondent honoring a drawing upon receipt of an electronic
presentation under a Letter of Credit requiring the same, regardless of whether the original Drawing
Documents arrive at Issuing Bank’s counters or are diffe
rent from the electronic presentation;

(vii)

any other event, circumstance or conduct whatsoever, whether or not similar to any
of the foregoing that might, but for this
Section 2.11(i)
, constitute a legal or equitable defense to or discharge
of, or provide a r
ight of set
-
off against, any Borrower’s or any of its Subsidiaries’ reimbursement and other
payment obligations and liabilities, arising under, or in connection with, any Letter of Credit, whether
against Issuing Bank, the beneficiary or any other Person;
or

(viii)

the fact that any Default or Event of Default shall have occurred and be continuing;

provided
,
that
, subject to
Section 2.11(g)

above, the foregoing shall not release Issuing Bank from such
liability to Borrowers as may be finally determined in a final,

non
-
appealable judgment of a court of
competent jurisdiction against Issuing Bank following reimbursement or payment of the obligations and
liabilities, including reimbursement and other payment obligations, of Borrowers to Issuing Bank arising
under, or
in connection with, this
Section 2.11

or any Letter of Credit.

(j)

Without limiting any other provision of this Agreement, Issuing Bank and each other Letter
of Credit Related Person (if applicable) shall not be responsible to Borrowers for, and Issuing Bank’s

rights
and remedies against Borrowers and the obligation of Borrowers to reimburse Issuing Bank for each
drawing under each Letter of Credit shall not be impaired by:

(i)

honor of a presentation under any Letter of Credit that on its face substantially
compli
es with the terms and conditions of such Letter of Credit, even if the Letter of Credit requires strict
compliance by the beneficiary;

(ii)

honor of a presentation of any Drawing Document that appears on its face to have
been signed, presented or issued (A) by
any purported successor or transferee of any beneficiary or other
Person required to sign, present or issue such Drawing Document or (B) under a new name of the
beneficiary;

(iii)

acceptance as a draft of any written or electronic demand or request for payment
u
nder a Letter of Credit, even if nonnegotiable or not in the form of a draft or notwithstanding any
requirement that such draft, demand or request bear any or adequate reference to the Letter of Credit;

(iv)

the identity or authority of any presenter or signer
of any Drawing Document or the
form, accuracy, genuineness or legal effect of any Drawing Document (other than Issuing Bank’s
determination that such Drawing Document appears on its face substantially to comply with the terms and
conditions of the Letter o
f Credit);

	
	
73

(v)

acting upon any instruction or request relative to a Letter of Credit or requested Letter
of Credit that Issuing Bank in good faith believes to have been given by a Person authorized to give such
instruction or request;

(vi)

any errors, omissions,
interruptions or delays in transmission or delivery of any
message, advice or document (regardless of how sent or transmitted) or for errors in interpretation of
technical terms or in translation or any delay in giving or failing to give notice to any Borr
ower;

(vii)

any acts, omissions or fraud by, or the insolvency of, any beneficiary, any nominated
person or entity or any other Person or any breach of contract between any beneficiary and any Borrower
or any of the parties to the underlying transaction to which

the Letter of Credit relates;

(viii)

assertion or waiver of any provision of the ISP or UCP that primarily benefits an
issuer of a letter of credit, including any requirement that any Drawing Document be presented to it at a
particular hour or place;

(ix)

payment to
any presenting bank (designated or permitted by the terms of the
applicable Letter of Credit) claiming that it rightfully honored or is entitled to reimbursement or indemnity
under Standard Letter of Credit Practice applicable to it;

(x)

acting or failing to a
ct as required or permitted under Standard Letter of Credit
Practice applicable to where Issuing Bank has issued, confirmed, advised or negotiated such Letter of
Credit, as the case may be;

(xi)

honor of a presentation after the expiration date of any Letter of

Credit
notwithstanding that a presentation was made prior to such expiration date and dishonored by Issuing Bank
if subsequently Issuing Bank or any court or other finder of fact determines such presentation should have
been honored;

(xii)

dishonor of any prese
ntation that does not strictly comply or that is fraudulent, forged
or otherwise not entitled to honor; or

(xiii)

honor of a presentation that is subsequently determined by Issuing Bank to have been
made in violation of international, federal, state or local rest
rictions on the transaction of business with
certain prohibited Persons.

(k)

Borrowers shall pay immediately upon demand to Agent for the account  of Issuing Bank
as non
-
refundable fees, commissions, and charges (it being acknowledged and agreed that any charg
ing of
such fees, commissions, and charges to the Loan Account pursuant to the provisions of
Section 2.6(d)

shall
be deemed to constitute a demand for payment thereof for the purposes of this
Section 2.11(k)
): (i) a fronting
fee (a “
Fronting Fee
”) payable
to Issuing Bank in accordance with
Section 2.6(d)

with respect all
outstanding Letters of Credit in the amount of .125% per annum on the average daily amount of the Letter
of Credit Exposure during the calculation period, plus (ii) any and all other custom
ary commissions, fees
and charges then in effect imposed by, and any and all expenses incurred by, Issuing Bank, or by any
adviser, confirming institution or entity or other nominated person, relating to Letters of Credit, at the time
of issuance of any Le
tter of Credit and upon the occurrence of any other activity with respect to any Letter
of Credit (including transfers, assignments of proceeds, amendments, drawings, renewals or cancellations).

(l)

If by reason of (x) any Change in Law, or (y) compliance by I
ssuing Bank or any other
member of the Lender Group with any direction, request, or requirement (irrespective of whether having

	
	
74

the force of law) of any Governmental Authority or monetary authority including, Regulation D of the
Board of Governors as from
time to time in effect (and any successor thereto):

(i)

any reserve, deposit, or similar requirement is or shall be imposed or modified in
respect of any Letter of Credit issued or caused to be issued hereunder or hereby, or any Loans or obligations
to make Lo
ans hereunder or hereby, or

(ii)

there shall be imposed on Issuing Bank or any other member of the Lender Group
any other condition regarding any Letter of Credit, Loans or obligations to make Loans hereunder,

and the result of the foregoing is to increase, dir
ectly or indirectly, the cost to Issuing Bank or any other
member of the Lender Group of issuing, making, participating in, or maintaining any Letter of Credit or
making any Loan hereunder, or, in any case, to reduce the amount receivable in respect thereo
f, then, and
in any such case, Agent may, at any time within a reasonable period after the additional cost is incurred or
the amount received is reduced, notify Borrowers, and Borrowers shall pay within thirty (30) days after
demand therefor, such amounts
as Agent may specify to be necessary to compensate Issuing Bank or any
other member of the Lender Group for such additional cost or reduced receipt, together with interest on
such amount from the date of such demand until payment in full thereof at the rat
e then applicable to Base
Rate Loans hereunder;
provided
, that (A) Borrowers shall not be required to provide any compensation
pursuant to this
Section 2.11(l)

for any such amounts incurred more than one hundred (180) days prior to
the date on which the de
mand for payment of such amounts is first made to Borrowers, and (B) if an event
or circumstance giving rise to such amounts is retroactive, then the 180
-
day period referred to above shall
be extended to include the period of retroactive effect thereof.  T
he determination by Agent of any amount
due pursuant to this
Section 2.11(l)
, as set forth in a certificate setting forth the calculation thereof in
reasonable detail, shall, in the absence of manifest or demonstrable error, be final and conclusive and
binding on all of the parties hereto.

(m)

Each standby Letter of Credit shall expire not later than the date that is twelve (12) months
after the date of the issuance of such Letter of Credit; provided, that any standby Letter of Credit may
provide for the aut
omatic extension thereof for any number of additional periods each of up to one year in
duration;
provided
,
that
, with respect to any Letter of Credit which extends beyond the Maturity Date, Letter
of Credit Collateralization shall be provided therefor on
or before the date that is five (5) Business Days
prior to the Maturity Date.  Each commercial Letter of Credit shall expire on the earlier of (i) one hundred
twenty (120) days after the date of the issuance of such commercial Letter of Credit and (ii) fiv
e Business
Days prior to the Maturity Date.

(n)

If (i) any Event of Default shall occur and be continuing, or (ii) Excess Availability shall
at any time be less than zero, then on the Business Day following the date when the Lead Borrower receives
notice from
Agent or the Required Lenders (or, if the maturity of the Obligations has been accelerated,
Revolving
Lenders with Letter of Credit Exposure representing greater than fifty percent (50%) of the total
Letter
of
Credit Exposure) demanding Letter of Credit Co
llateralization pursuant to this
Section 2.11(n)

upon such demand, Borrowers shall provide Letter of Credit Collateralization with respect to the then
existing Letter of Credit Usage.  If Borrowers fail to provide Letter of Credit Collateralization as requ
ired
by this
Section 2.11(n)
, the
Revolving
Lenders may (and, upon direction of Agent, shall) advance, as
Revolving Loans the amount of the cash collateral required pursuant to the Letter of Credit Collateralization
provision so that the then existing Lett
er of Credit Usage is cash collateralized in accordance with the Letter
of Credit Collateralization provision (whether or not the
Revolver
Commitments have terminated, an
Overadvance exists or the conditions in
Section 3

are satisfied).

(o)

Unless otherwise ex
pressly agreed by Issuing Bank and Borrowers when a Letter of Credit
is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP

	
	
75

or UCP shall apply to each standby Letter of Credit, and (ii) the rules of th
e UCP shall apply to each
commercial Letter of Credit.

(p)

Issuing Bank shall be deemed to have acted with due diligence and reasonable care if
Issuing Bank’s conduct is in accordance with Standard Letter of Credit Practice or in accordance with this
Agreement
..

(q)

In the event of a direct conflict between the provisions of this
Section 2.11

and any
provision contained in any Issuer Document, it is the intention of the parties hereto that such provisions be
read together and construed, to the fullest extent possib
le, to be in concert with each other.  In the event of
any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this
Section 2.11

shall control and govern.

(r)

The provisions of this
Section 2.11

shall survive the t
ermination of this Agreement and the
repayment in full of the Obligations with respect to any Letters of Credit that remain outstanding.

(s)

At Borrowers’ costs and expense, Borrowers shall execute and deliver to Issuing Bank such
additional certificates, inst
ruments and/or documents and take such additional action as may be reasonably
requested by Issuing Bank to enable Issuing Bank to issue any Letter of Credit pursuant to this Agreement
and related Issuer Document, to protect, exercise and/or enforce Issuing

Banks’ rights and interests under
this Agreement or to give effect to the terms and provisions of this Agreement or any Issuer Document.
Each Borrower irrevocably appoints Issuing Bank as its attorney
-
in
-
fact and authorizes Issuing Bank,
without notice t
o Borrowers, to execute and deliver ancillary documents and letters customary in the letter
of credit business that may include but are not limited to advisements, indemnities, checks, bills of exchange
and issuance documents.  The power of attorney grante
d by the Borrowers is limited solely to such actions
related to the issuance, confirmation or amendment of any Letter of Credit and to ancillary documents or
letters customary in the letter of credit business.  This appointment is coupled with an interest.

(t)

On the Closing Date, each of the Existing Letters of Credit shall be deemed to have been
issued as a Letter of Credit under this Agreement by the Issuing Bank, and such Issuing Bank shall be
deemed, without further action by any party hereto, to have gran
ted to each of the Lenders, and each Lender
shall be deemed, without further action by any party hereto, to have acquired from such Issuing Bank, a
participation (on the terms specified in this Section

2.11) in each Existing Letter of Credit equal to such
Lender’s Pro Rata Share thereof. Concurrently with such sale of participations, the participations granted
pursuant to the terms of the Existing Credit Agreement to the lenders party thereto shall be automatically
cancelled without further action by any of

the parties hereto. Each Lender acknowledges and agrees that its
obligation to acquire participations in Existing Letters of Credit pursuant to this paragraph is absolute and
unconditional and shall not be affected by any circumstance whatsoever, includin
g the occurrence and
continuance of a Default or reduction or termination of the Commitments, and that each payment by a
Lender in respect of such participations shall be made without any offset, abatement, withholding or
reduction whatsoever.

2.12

LIBOR
SOFR

Op
tion
..

(a)

Interest and Interest Payment Dates
..  In lieu of having interest charged at the rate based
upon the Base Rate, Borrowers shall have the option, subject to
Section 2.12(b)

below (the “
LIBOR
SOFR

Option
”) to have interest on all or a portion of the Revo
lving Loans be charged (whether at the time when
made (unless otherwise provided herein), upon conversion from a Base Rate Loan to a
LIBOR Rate
SOFR

Loan, or upon continuation of a
LIBOR Rate
SOFR

Loan as a
LIBOR Rate
SOFR

Loan) at a rate of interest
based up
on
the LIBOR Rate
Term SOFR
..  Interest on
LIBOR Rate
SOFR

Loans shall be payable on the
earliest of (i) the last day of the Interest Period applicable thereto;
provided
,
that
, subject to the following

	
	
76

clauses (ii) and (iii), in the case of any Interest Period greater than three (3) months in duration, interest
shall be payable at three (3) month intervals after the commencement of the applicable Interest Period and
on the last day of such Interest Perio
d), (ii) the date on which all or any portion of the Obligations are
accelerated pursuant to the terms hereof, or (iii) the date on which this Agreement is terminated pursuant
to the terms hereof.  On the last day of each applicable Interest Period, unless

Borrowers have properly
exercised the
LIBOR
SOFR

Option with respect thereto, the interest rate applicable to such
LIBOR
Rate
SOFR

Loan automatically shall convert to the rate of interest then applicable to Base Rate Loans of
the same type hereunder.  At an
y time that an Event of Default has occurred and is continuing, at the written
election of Agent or the Required Lenders, Borrowers no longer shall have the option to request that
Revolving Loans
or any portion of the Term Loan
bear interest at a rate base
d upon
the LIBOR Rate
Term
SOFR
..

(b)

LIBOR
SOFR

Election
..

(i)

Borrowers may, at any time and from time to time, so long as Borrowers have not
received a notice from Agent (which notice Agent may elect to give or not give in its discretion unless
Agent is directed to give such notice by the Required Lenders, in which
case, it shall give the notice to
Borrowers), after the occurrence and during the continuance of an Event of Default, to terminate the right
of Borrowers to exercise the
LIBOR
SOFR

Option during the continuance of such Event of Default, elect
to exercise th
e
LIBOR
SOFR

Option by notifying Agent prior to 11:00 a.m. at least three (3)
U.S.
Government Securities
Business Days prior to the commencement of the proposed Interest Period (the
“
LIBOR
SOFR

Deadline
”).  Notice of Borrowers’ election of the
LIBOR
SOFR

Opti
on for a permitted
portion of the Revolving Loans and an Interest Period pursuant to this Section shall be made by delivery to
Agent of a
LIBOR
SOFR

Notice received by Agent before the
LIBOR
SOFR

Deadline.  Promptly upon its
receipt of each such
LIBOR
SOFR

No
tice, Agent shall provide a
copy
notice

thereof to each of the affected
Lenders.

(ii)

Each
LIBOR
SOFR

Notice shall be irrevocable and binding on Borrowers.  In
connection with each
LIBOR Rate
SOFR

Loan, each Borrower shall jointly and severally indemnify,
defend,
and hold Agent and the Lenders harmless against any loss, cost, or expense actually incurred by
Agent or any Lender as a result of (A) the payment or required assignment of any principal of any
LIBOR
Rate
SOFR

Loan other than on the last day of an Interest
Period applicable thereto (including as a result of
an Event of Default), (B) the conversion of any
LIBOR Rate
SOFR

Loan other than on the last day of the
Interest Period applicable thereto, or (C) the failure to borrow, convert, continue or prepay any
LIBO
R
Rate
SOFR

Loan on the date specified in any
LIBOR
SOFR

Notice delivered pursuant hereto (such losses,
costs, or expenses, “
Funding Losses
”).

(iii)

A

certificate of Agent or a Lender delivered to Lead Borrower setting forth in
reasonable detail any amount or amounts that Agent or such Lender is entitled to receive pursuant to this
Section 2.12

shall be conclusive absent manifest error.  Borrowers shall

pay such amount to Agent or the
Lender, as applicable, within thirty (30) days of the date of its receipt of such certificate.  If a payment of a
LIBOR Rate
SOFR

Loan on a day other than the last day of the applicable Interest Period would result in a
Fund
ing Loss, Agent may, in its sole discretion at the request of Borrowers, hold the amount of such
payment as cash collateral in support of the Obligations until the last day of such Interest Period and apply
such amounts to the payment of the applicable
LIB
OR Rate
SOFR

Loan on such last day

of such Interest
Period
, it being agreed that Agent has no obligation to so defer the application of payments to any
LIBOR
Rate
SOFR

Loan and that, in the event that Agent does not defer such application, Borrowers shall be

obligated to pay any resulting Funding Losses.

	
	
77

(iv)

(iii)
Unless Agent, in its sole discretion, agrees otherwise, Borrowers shall have not
more than five (5)
LIBOR Rate
SOFR

Loans in effect at any given time.  Borrowers may only exercise the
LIBOR
SOFR

Option fo
r proposed
LIBOR Rate
SOFR

Loans of not less than $1,000,000.

(c)

Conversion; Prepayment
..  Borrowers may convert
LIBOR Rate
SOFR

Loans to Base
Rate Loans or prepay
LIBOR Rate
SOFR

Loans at any time;
provided
,
that
, in the event that
LIBOR
Rate
SOFR

Loans are conve
rted or prepaid on any date that is not the last day of the Interest Period
applicable thereto, including as a result of any prepayment through the required application by Agent of
any payments or proceeds of Collateral in accordance with
Section 2.4(b)

or

for any other reason, including
early termination of the term of this Agreement or acceleration of all or any portion of the Obligations
pursuant to the terms hereof, each Borrower shall indemnify, defend, and hold Agent and the Lenders and
their Particip
ants harmless against any and all Funding Losses in accordance with
Section 2.12 (b)(ii)
..

(d)

Special Provisions Applicable to
LIBOR Rate
Term SOFR
..

(i)

The LIBOR Rate
Term SOFR

may be adjusted by Agent with respect to any Lender
on a prospective basis to take into account any additional
or increased costs to such Lender of maintaining
or obtaining any eurodollar deposits
or increased costs (other than Taxes which shall be govern
ed by
Section
16
), in each case, due to changes in applicable law occurring subsequent to the commencement of the then
applicable Interest Period,
including
or pursuant to

any
Changes
Change

in Law
and changes
or change

in
the reserve requirements imposed by
the Board of Governors, which additional or increased costs would
increase the cost of funding or maintaining loans bearing interest at
the LIBOR Rate
Term SOFR
..  In any
such event, the affected Lender shall give
Lead Borrower
Borrowers

and Agent notice of s
uch a
determination and adjustment and Agent promptly shall transmit the notice to each other Lender and, upon
its receipt of the notice from the affected Lender, Borrowers may, by notice to such affected Lender (A)
require such Lender to furnish to Borrow
ers a statement setting forth in reasonable detail the basis for
adjusting
such LIBOR Rate
Term SOFR

and the method for determining the amount of such adjustment, or
(B) repay the
LIBOR
SOFR Loans or Base

Rate Loans
of
determined with reference to Term SOFR,
in each
case, of

such Lender with respect to which such adjustment is made (together with any amounts due under
Section 2.12(b)(ii)
).

(ii)

In the
Subject to the provisions set forth in Section 2.12(d)(iii) below, in the

event
that any change in market conditions

or any Change in Law shall at any time after the date hereof, in the
reasonable opinion of any Lender, make it unlawful or impractical for such Lender to fund or maintain
LIBOR
SOFR Loans (or Base

Rate Loans
determined with reference to Term SOFR)
or to co
ntinue such
funding or maintaining, or to determine or charge interest rates at the
LIBOR
Term SOFR Reference

Rate,
Term SOFR or SOFR,
such Lender shall give notice of such changed circumstances to Agent and
Lead
Borrower
Borrowers

and Agent promptly shall t
ransmit the notice to each other Lender and (
A
y)(i
) in the
case of any
LIBOR Rate
SOFR

Loans of such Lender that are outstanding,
the date specified in such
Lender’s notice shall
such SOFR Loans of such Lender will

be deemed to
be
have been converted Base Rat
e
Loans on

the last day of the Interest Period of such
LIBOR Rate Loans, and
SOFR Loans, if such Lender
may lawfully continue to maintain such SOFR Loans, or immediately, if such Lender may not lawfully
continue to maintain such SOFR Loans, and thereafter

i
nterest upon the
LIBOR Rate
SOFR

Loans of such
Lender thereafter shall accrue interest at the rate then applicable to Base Rate Loans
, and (B

(and if
applicable, without reference to the Term SOFR component thereof) and (ii) in the case of any such Base
Rat
e Loans of such Lender that are outstanding and that are determined with reference to Term SOFR,
interest upon the Base Rate Loans of such Lender after the date specified in such Lender’s notice shall
accrue interest at the rate then applicable to Base Rat
e Loans without reference to the Term SOFR
component thereof and (z
) Borrowers shall not be entitled to elect the
LIBOR Option
SOFR Option and
Base Rate Loans shall not be determined with reference to the Term SOFR component thereof, in each
case,

until suc
h Lender determines that it would no longer be unlawful or impractical to do so.

	
	
78

(iii)

Benchmark Replacement Setting
..

(A)

Benchmark Replacement
.. Notwithstanding anything to the contrary
herein or in any other Loan Document, upon the occurrence of a Benchmark
Transition Event, Agent and
Administrative Borrower may amend this Agreement to replace the then
-
current Benchmark with a
Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become
effective at 5:00 p.m. on the fifth

(5
th
) Business Day after Agent has posted such proposed amendment to
all affected Lenders and Administrative Borrower so long as Agent has not received, by such time, written
notice of objection to such amendment from Lenders comprising the Required Lende
rs.  No replacement
of a Benchmark with a Benchmark Replacement pursuant to this Section 2.12(d)(iii) will occur prior to the
applicable Benchmark Transition Start Date.

(B)

Benchmark Replacement Conforming Changes
.. In connection with the
use, administration,
adoption or implementation of a Benchmark Replacement, Agent will have the right to
make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in
any other Loan Document, any amendments implementing such Conforming Ch
anges will become
effective without any further action or consent of any other party to this Agreement or any other Loan
Document.

(C)

Notices; Standards for Decisions and Determinations
.. Agent will
promptly notify Administrative Borrower and the Lenders of (1
) the implementation of any Benchmark
Replacement and (2) the effectiveness of any Conforming Changes in connection with the use,
administration, adoption or implementation of a Benchmark Replacement.  Agent will notify
Administrative Borrower of (x) the r
emoval or reinstatement of any tenor of a Benchmark pursuant to
Section 2.12(d)(iii)(D) and (y) the commencement of any Benchmark Unavailability Period.  Any
determination, decision or election that may be made by Agent or, if applicable, any Lender (or gr
oup of
Lenders) pursuant to this Section 2.12(d)(iii), including any determination with respect to a tenor, rate or
adjustment or of the occurrence or non
-
occurrence of an event, circumstance or date and any decision to
take or refrain from taking any acti
on or any selection, will be conclusive and binding absent manifest error
and may be made in its or their sole discretion and without consent from any other party to this Agreement
or any other Loan Document, except, in each case, as expressly required pur
suant to this Section 2.12(d)(iii).

(D)

Unavailability of Tenor of Benchmark
..  Notwithstanding anything to
the contrary herein or in any other Loan Document, at any time (including in connection with the
implementation of a Benchmark Replacement), (1) if the t
hen
-
current Benchmark is a term rate (including
the Term SOFR Reference Rate) and either (I) any tenor for such Benchmark is not displayed on a screen
or other information service that publishes such rate from time to time as selected by Agent in its reaso
nable
discretion or (II) the regulatory supervisor for the administrator of such Benchmark has provided a public
statement or publication of information announcing that any tenor for such Benchmark is not or will not be
representative, then Agent may modif
y the definition of “Interest Period” (or any similar or analogous
definition) for any Benchmark settings at or after such time to remove such unavailable or non
-
representative tenor and (2) if a tenor that was removed pursuant to clause (1) above either (
I) is
subsequently displayed on a screen or information service for a Benchmark (including a Benchmark
Replacement) or (II) is not, or is no longer, subject to an announcement that it is not or will not be
representative for a Benchmark (including a Benchm
ark Replacement), then Agent may modify the
definition of “Interest Period” (or any similar or analogous definition) for all Benchmark settings at or after
such time to reinstate such previously removed tenor.

(E)

Benchmark Unavailability Period
.. Upon Administ
rative Borrower’s
receipt of notice of the commencement of a Benchmark Unavailability Period, (1) Administrative Borrower
may revoke any pending request for a borrowing of, conversion to or continuation of SOFR Loans to be

	
	
79

made, converted or continued duri
ng any Benchmark Unavailability Period and, failing that, Administrative
Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion
to Base Rate Loans and (2) any outstanding affected SOFR Loans will be deeme
d to have been converted
to Base Rate Loans at the end of the applicable Interest Period. During any Benchmark Unavailability
Period or at any time that a tenor for the then
-
current Benchmark is not an Available Tenor, the component
of the Base Rate based
upon the then
-
current Benchmark or such tenor for such Benchmark, as applicable,
will not be used in any determination of the Base Rate.

(e)

No Requirement of Matched Funding
..  Anything to the contrary contained herein
notwithstanding, neither Agent, nor any
Lender, nor any of their Participants, is required actually to
acquire
eurodollar deposits to fund or otherwise
match fund any Obligation as to which interest accrues at
Term
SOFR or
the
LIBOR
Term SOFR Reference

Rate.

2.13

Capital Requirements
..

(a)

If, after the date hereof, Issuing Bank or any Lender determines that (i) any Change in Law
regarding capital, liquidity or reserve requirements for banks or bank holding companies, or (ii) compliance
by Issuing Bank or such Lender, or their respective par
ent bank holding companies, with any guideline,
request or directive of any Governmental Authority regarding capital adequacy or liquidity requirements
(whether or not having the force of law), has the effect of reducing the return on Issuing Bank’s, such
Lender’s, or such holding companies’ capital or liquidity as a consequence of Issuing Bank’s or such
Lender’s commitments, Loans, participations or other obligations hereunder to a level below that which
Issuing Bank, such Lender, or such holding companies

could have achieved but for such Change in Law or
compliance (taking into consideration Issuing Bank’s, such Lender’s, or such holding companies’ then
existing policies with respect to capital adequacy or liquidity requirements and assuming the full utili
zation
of such entity’s capital) by any amount deemed by Issuing Bank or such Lender to be material, then Issuing
Bank or such Lender may notify Borrowers and Agent thereof.  Following receipt of such notice, Borrowers
agree to pay Issuing Bank or such Len
der on demand the amount of such reduction of return of capital as
and when such reduction is determined, payable within thirty (30) days after presentation by Issuing Bank
or such Lender of a statement in the amount and setting forth in reasonable detail
Issuing Bank’s or such
Lender’s calculation thereof and the assumptions upon which such calculation was based (which statement
shall be deemed true and correct absent manifest error).  In determining such amount, Issuing Bank or such
Lender may use any rea
sonable averaging and attribution methods.  Failure or delay on the part of Issuing
Bank or any Lender to demand compensation pursuant to this Section shall not constitute a waiver of Issuing
Bank’s or such Lender’s right to demand such compensation;
provi
ded
, that Borrowers shall not be required
to compensate Issuing Bank or a Lender pursuant to this Section for any reductions in return incurred more
than one hundred eighty (180) days prior to the date that Issuing Bank or such Lender notifies Borrowers
of

such Change in Law giving rise to such reductions and of such Lender’s intention to claim compensation
therefor;
provided
,
that
, if such claim arises by reason of the Change in Law that is retroactive, then the
180
-
day period referred to above shall be ex
tended to include the period of retroactive effect thereof.

(b)

If Issuing Bank or any Lender requests additional or increased costs referred to in
Section
2.11(l)

or
Section 2.12(d)(i)

or amounts under
Section 2.13(a)

or sends a notice under
Section 2.12(d)(i
i)

relative to changed circumstances (such Issuing Bank or Lender, an “
Affected Lender
”), then, at the request
of Lead Borrower, such Affected Lender shall use reasonable efforts to promptly designate a different one
of its lending offices or to assign its

rights and obligations hereunder to another of its offices or branches,
if (i) in the reasonable judgment of such Affected Lender, such designation or assignment would eliminate
or reduce amounts payable pursuant to
Section 2.11(l)
,
Section 2.12(d)(i)

or
Section 2.13(a)
, as applicable,
or would eliminate the illegality or impracticality of funding or maintaining
LIBOR
SOFR Loans (or Base

Rate Loans

determined with reference to Term SOFR)
,

and (ii) in the reasonable judgment of such Affected
Lender, such designation or assignment would not subject it to any material unreimbursed cost or expense

	
	
80

and would not otherwise be materially disadvantageous to it.  Borrowers agree to pay all reasonab
le out
-
of
-
pocket costs and expenses incurred by such Affected Lender in connection with any such designation or
assignment.  If, after such reasonable efforts, such Affected Lender does not so designate a different one of
its lending offices or assign its
rights to another of its offices or branches so as to eliminate Borrowers’
obligation to pay any future amounts to such Affected Lender pursuant to
Section 2.11(l)
,
Section 2.12(d)(i)

or
Section 2.13(a)
, as applicable, or to enable Borrowers to obtain
LIBO
R
SOFR Loans (or Base

Rate Loans
,

determined with reference to Term SOFR),

then Borrowers (without prejudice to any amounts then due to
such Affected Lender under
Section 2.11(l)
,
Section 2.12(d)(i)

or
Section 2.13(a)
, as applicable) may,
unless prior to th
e effective date of any such assignment the Affected Lender withdraws its request for such
additional amounts under
Section 2.11(l)
,
Section 2.12(d)(i)

or
Section 2.13(a)
, as applicable, or indicates
that it is no longer unlawful or impractical to fund or
maintain
LIBOR
SOFR Loans (or Base

Rate Loans

determined with reference to Term SOFR)
,
may designate a different Issuing Bank or substitute a Lender
or prospective Lender, in each case, reasonably acceptable to Agent to purchase the Obligations owed to
such

Affected Lender and such Affected Lender’s commitments hereunder (a “
Replacement Lender
”), and
if such Replacement Lender agrees to such purchase, such Affected Lender shall assign to the Replacement
Lender its Obligations and commitments, and upon such p
urchase by the Replacement Lender, which such
Replacement Lender shall be deemed to be “Issuing Bank” or a “Lender” (as the case may be) for purposes
of this Agreement and such Affected Lender shall cease to be “Issuing Bank” or a “Lender” (as the case
may

be) for purposes of this Agreement.

(c)

Notwithstanding anything herein to the contrary, the protection of
Sections 2.11(l)
,
2.12(d)
,
and
2.13

shall be available to Issuing Bank and each Lender (as applicable) regardless of any possible
contention of the inva
lidity or inapplicability of the law, rule, regulation, judicial ruling, judgment,
guideline, treaty or other change or condition which shall have occurred or been imposed, so long as it shall
be customary for issuing banks or lenders affected thereby to c
omply therewith.  Notwithstanding any other
provision herein, neither Issuing Bank nor any Lender shall demand compensation pursuant to this Section
2.13 if it shall not at the time be the general policy or practice of Issuing Bank or such Lender (as the c
ase
may be) to demand such compensation in similar circumstances under comparable provisions of other credit
agreements, if any.

2.14

Reserved
..

2.15

Reserved
..

2.16

Joint and Several Liabilities of Borrowers
..

(a)

Each Borrower is accepting joint and several liability hereunde
r and under the other Loan
Documents in consideration of the financial accommodations to be provided by the Lender Group under
this Agreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of
the undertakings of the

other Borrowers to accept joint and several liability for the Obligations.

(b)

Each Borrower, jointly and severally, hereby irrevocably and unconditionally accepts, not
merely as a surety but also as a co
-
debtor, joint and several liability with the other Bor
rowers, with respect
to the payment and performance of all of the Obligations (including any Obligations arising under this
Section 2.16
), it being the intention of the parties hereto that all the Obligations shall be the joint and several
obligations of e
ach Borrower without preferences or distinction among them.  Accordingly, each Borrower
hereby waives any and all suretyship defenses that would otherwise be available to such Borrower under
applicable law.

(c)

If and to the extent that any Borrower shall fail

to make any payment with respect to any
of the Obligations as and when due, whether upon maturity, acceleration, or otherwise, or to perform any

	
	
81

of the Obligations in accordance with the terms thereof, then in each such event the other Borrowers will
make

such payment with respect to, or perform, such Obligations until such time as all of the Obligations
are paid in full and without the need for demand, protest, or any other notice or formality.

(d)

The Obligations of each Borrower under the provisions of this

Section 2.16

constitute the
absolute and unconditional, full recourse Obligations of each Borrower enforceable against each Borrower
to the full extent of its properties and assets, irrespective of the validity, regularity or enforceability of the
provisi
ons of this Agreement (other than this
Section 2.16(d)
) or any other circumstances whatsoever.

(e)

Without limiting the generality of the foregoing and except as otherwise expressly provided
in this Agreement, each Borrower hereby waives presentments, demands
for performance, protests and
notices, including notices of acceptance of its joint and several liability, notice of any Revolving Loans or
any Letters of Credit issued under or pursuant to this Agreement, notice of the occurrence of any Default,
Event of
Default, notices of nonperformance, notices of protest, notices of dishonor, notices of acceptance
of this Agreement, notices of the existence, creation, or incurring of new or additional Obligations or other
financial accommodations or of any demand for a
ny payment under this Agreement, notice of any action
at any time taken or omitted by Agent or Lenders under or in respect of any of the Obligations, any right to
proceed against any other Borrower or any other Person, to proceed against or exhaust any sec
urity held
from any other Borrower or any other Person, to protect, secure, perfect, or insure any security interest or
Lien on any property subject thereto or exhaust any right to take any action against any other Borrower,
any other Person, or any collat
eral, to pursue any other remedy in any member of the Lender Group’s or
any Bank Product Provider’s power whatsoever, any requirement of diligence or to mitigate damages and,
generally, to the extent permitted by applicable law, all demands, notices and ot
her formalities of every
kind in connection with this Agreement (except as otherwise provided in this Agreement), any right to
assert against any member of the Lender Group or any Bank Product Provider, any defense (legal or
equitable), set
-
off, countercla
im, or claim which each Borrower may now or at any time hereafter have
against any other Borrower or any other party liable to any member of the Lender Group or any Bank
Product Provider, any defense, set
-
off, counterclaim, or claim, of any kind or nature,

arising directly or
indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of the
Obligations or any security therefor, and any right or defense arising by reason of any claim or defense
based upon an election o
f remedies by any member of the Lender Group or any Bank Product Provider
including any defense based upon an impairment or elimination of such Borrower’s rights of subrogation,
reimbursement, contribution, or indemnity of such Borrower against any other B
orrower.  Without limiting
the generality of the foregoing, each Borrower hereby assents to, and waives notice of, any extension or
postponement of the time for the payment of any of the Obligations, the acceptance of any payment of any
of the Obligations,

the acceptance of any partial payment thereon, any waiver, consent or other action or
acquiescence by Agent or Lenders at any time or times in respect of any default by any Borrower in the
performance or satisfaction of any term, covenant, condition or pr
ovision of this Agreement, any and all
other indulgences whatsoever by Agent or Lenders in respect of any of the Obligations, and the taking,
addition, substitution or release, in whole or in part, at any time or times, of any security for any of the
Oblig
ations or the addition, substitution or release, in whole or in part, of any Borrower.  Without limiting
the generality of the foregoing, each Borrower assents to any other action or delay in acting or failure to act
on the part of any Agent or Lender with

respect to the failure by any Borrower to comply with any of its
respective Obligations, including, without limitation, any failure strictly or diligently to assert any right or
to pursue any remedy or to comply fully with applicable laws or regulations t
hereunder, which might, but
for the provisions of this
Section 2.16

afford grounds for terminating, discharging or relieving any
Borrower, in whole or in part, from any of its Obligations under this
Section 2.16
, it being the intention of
each Borrower tha
t, so long as any of the Obligations hereunder remain unsatisfied, the Obligations of each
Borrower under this
Section 2.16

shall not be discharged except by performance and then only to the extent
of such performance. The Obligations of each Borrower unde
r this
Section 2.16

shall not be diminished or
rendered unenforceable by any winding up, reorganization, arrangement, liquidation, reconstruction or

	
	
82

similar proceeding with respect to any other Borrower or any Agent or Lender.  Each of the Borrowers
waives
, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability
hereunder or the enforcement hereof.  Any payment by any Borrower or other circumstance which operates
to toll any statute of limitations as to any
Borrower shall operate to toll the statute of limitations as to each
of the Borrowers.  Each of the Borrowers waives any defense based on or arising out of any defense of any
Borrower or any other Person, other than payment of the Obligations to the extent

of such payment, based
on or arising out of the disability of any Borrower or any other Person, or the validity, legality, or
unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of
the liability of any B
orrower other than payment of the Obligations to the extent of such payment.  Agent
may, at the election of the Required Lenders, foreclose upon any Collateral held by Agent by one or more
judicial or nonjudicial sales or other dispositions, whether or not

every aspect of any such sale is
commercially reasonable or otherwise fails to comply with applicable law or may exercise any other right
or remedy Agent, any other member of the Lender Group, or any Bank Product Provider may have against
any Borrower or
any other Person, or any security, in each case, without affecting or impairing in any way
the liability of any of the Borrowers hereunder except to the extent the Obligations have been paid.

(f)

Each Borrower represents and warrants to Agent and Lenders that
such Borrower is
currently informed of the financial condition of Borrowers and of all other circumstances which a diligent
inquiry would reveal and which bear upon the risk of nonpayment of the Obligations.  Each Borrower
further represents and warrants t
o Agent and Lenders that such Borrower has read and understands the
terms and conditions of the Loan Documents.  Each Borrower hereby covenants that such Borrower will
continue to keep informed of Borrowers’ financial condition and of all other circumstanc
es which bear
upon the risk of nonpayment or nonperformance of the Obligations.

(g)

The provisions of this
Section 2.16

are made for the benefit of Agent, each member of the
Lender Group, each Bank Product Provider, and their respective successors and assigns,

and may be
enforced by it or them from time to time against any or all Borrowers as often as occasion therefor may
arise and without requirement on the part of Agent, any member of the Lender Group, any Bank Product
Provider, or any of their successors or

assigns first to marshal any of its or their claims or to exercise any
of its or their rights against any Borrower or to exhaust any remedies available to it or them against any
Borrower or to resort to any other source or means of obtaining payment of an
y of the Obligations hereunder
or to elect any other remedy. The provisions of this Section 2.16 shall remain in effect until all of the
Obligations shall have been paid in full or otherwise fully satisfied.  If at any time, any payment, or any
part thereo
f, made in respect of any of the Obligations, is rescinded or must otherwise be restored or returned
by Agent or any Lender upon the insolvency, bankruptcy or reorganization of any Borrower, or otherwise,
the provisions of this Section 2.16 will forthwith
be reinstated in effect, as though such payment had not
been made.

(h)

Each Borrower hereby agrees that it will not enforce any of its rights of contribution or
subrogation against any other Borrower with respect to any liability incurred by it hereunder or un
der any
of the other Loan Documents, any payments made by it to Agent or Lenders with respect to any of the
Obligations or any collateral security therefor until such time as all of the Obligations have been paid in
full in cash.  Any claim which any Borro
wer may have against any other Borrower with respect to any
payments to any Agent or any member of the Lender Group hereunder or under any of the Bank Product
Agreements are hereby expressly made subordinate and junior in right of payment, without limitati
on as to
any increases in the Obligations arising hereunder or thereunder, to the prior payment in full in cash of the
Obligations and, in the event of any insolvency, bankruptcy, receivership, liquidation, reorganization,
administration, or other similar
proceeding under the laws of any jurisdiction relating to any Borrower, its
debts or its assets, whether voluntary or involuntary, all such Obligations shall be paid in full in cash before
any payment or distribution of any character, whether in cash, secu
rities or other property, shall be made to
any other Borrower therefor.

	
	
83

(i)

Each Borrower hereby agrees that after the occurrence and during the continuance of any
Cash Dominion Event, such Borrower will not demand, sue for or otherwise attempt to collect any
indebtedness of any other Borrower owing to such Borrower until the Obligations shall have been paid in
full in cash.  If, notwithstanding the foregoing sentence, such Borrower shall collect, enforce or receive any
amounts in respect of such indebtedness,
such amounts shall be collected, enforced and received by such
Borrower as trustee for Agent, and such Borrower shall deliver any such amounts to Agent for application
to the Obligations in accordance with
Section 2.4(b)
..

3.

CONDITIONS; TERM OF AGREEMENT.

3.1

Con
ditions Precedent to the Initial Extension of Credit
..  The obligation of each Lender
to make its initial extension of credit provided for hereunder is subject to the fulfillment, to the satisfaction
of Agent and each Lender, of each of the conditions prec
edent set forth on
Schedule 3.1

(the making of
such initial extension of credit by a Lender being conclusively deemed to be its satisfaction or waiver of
the conditions precedent).

3.2

Conditions Precedent to all Extensions of Credit
..  The obligation of the L
ender Group (or
any member thereof) to make any Revolving Loans hereunder (or to extend any other credit hereunder) at
any time after the Closing Date shall be subject to the following conditions precedent:

(a)

the representations and warranties of each Loan P
arty contained in this Agreement or in
the other Loan Documents shall be true and correct in all material respects (except that such materiality
qualifier shall not be applicable to any representations and warranties that already are qualified or modified
by materiality in the text thereof) on and as of the date of such extension of credit, as though made on and
as of such date (except to the extent that such representations and warranties relate solely to an earlier date,
in which case such representations

and warranties shall be true and correct in all material respects (except
that such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof) as of such e
arlier date); and

(b)

no Default or Event of Default shall have occurred and be continuing on the date of such
extension of credit, nor shall either result from the making thereof; and

(c)

after giving effect to the requested Revolving Loan or other extension of c
redit hereunder,
the Revolver Usage shall not exceed the lesser of the Maximum Credit or the Borrowing Base then in effect.

3.3

Maturity
..  The Commitments shall continue in full force and effect for a term ending on the
Maturity Date hereunder.  The foregoing

notwithstanding, the Lender Group, upon the election of the
Required Lenders, shall have the right to terminate its obligations under this Agreement immediately and
without notice upon the occurrence and during the continuation of an Event of Default.

3.4

Eff
ect of Maturity
..  On the Maturity Date or, if earlier, the date that the Commitments are
terminated whether pursuant to
Section 2.4(c)

or otherwise, all Commitments of the Lender Group to
provide additional credit hereunder shall automatically be terminat
ed and all of the Obligations (other than
(a) Bank Product Obligations (other than Hedge Obligations) that, at such time, are allowed by the
applicable Bank Product Provider to remain outstanding without being required to be repaid or cash
collateralized,
and (b) any Hedge Obligations that, at such time, are allowed by the applicable hedging
counterparty to remain outstanding without being required to be repaid) immediately shall become due and
payable without notice or demand and Borrowers shall be require
d to repay all of the Obligations (other
than Hedge Obligations and Bank Product Obligations as set forth in this Section 3.4) in full.  No
termination of the obligations of the Lender Group (other than payment in full of the Obligations and
termination of

the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or

	
	
84

covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue
to secure the Obligations and shall remain in effect until al
l Obligations have been paid in full and the
Commitments have been terminated.  When all of the Obligations have been paid in full and the Lender
Group’s obligations to provide additional credit under the Loan Documents have been terminated
irrevocably, Ag
ent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien
releases, discharges of security interests, and other similar discharge or release documents (and, if
applicable, in recordable form) as are reasonably necessary to
release, as of record, Agent’s Liens and all
notices of security interests and liens previously filed by Agent.

3.5

Early Termination by Borrowers
..  Borrowers have the option, at any time upon ten (10)
Business Days prior written notice to Agent (or such shor
ter period of time as consented to by Agent), to
terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the
Obligations in full.

3.6

Conditions Subsequent
..
The obligation of the Lender Group (or any member thereof) to
co
ntinue to make Revolving Loans (or otherwise extend credit hereunder) is subject to the fulfillment, on
or before the date applicable thereto, of the conditions subsequent set forth on
Schedule 3.6

to this
Agreement (the failure by Borrowers to so perform
or cause to be performed such conditions subsequent
as and when required by the terms thereof (unless such date is extended, in writing, by Agent, which Agent
may do without obtaining the consent of the other members of the Lender Group), shall constitute
an Event
of Default).

4.

REPRESENTATIONS AND WARRANTIES.

In order to induce the Lender Group to enter into this Agreement, each Loan Party makes the
following representations and warranties to Agent which shall be true, correct, and complete, in all material
respects (except that such materiality qualifier shall not be applicable to any representations and warranties
that already are qualified or modified by materiality in the text thereof), as of the Closing Date, and shall
be true, correct, and complete, in
all material respects (except that such materiality qualifier shall not be
applicable to any representations and warranties that already are qualified or modified by materiality in the
text thereof), as of the date of the making of each Revolving Loan (or
other extension of credit) made
thereafter, as though made on and as of the date of such Revolving Loan (or other extension of credit)
(except to the extent that such representations and warranties relate solely to an earlier date, in which case
such repre
sentations and warranties shall be true and correct in all material respects (except that such
materiality qualifier shall not be applicable to any representations and warranties that already are qualified
or modified by materiality in the text thereof) as

of such earlier date), and such representations and
warranties shall survive the execution and delivery of this Agreement:

4.1

Due Organization and Qualification; Subsidiaries
..

(a)

Each Loan Party and each of its Subsidiaries (i) is duly organized and existing an
d in good
standing under the laws of the jurisdiction of its organization, (ii) is qualified to do business in any state
where the failure to be so qualified would reasonably be expected to result in a Material Adverse Effect,
and (iii) has all requisite p
ower and authority to own and operate its properties and to carry on its business
as now conducted and as proposed to be conducted, except where failure to do so would not reasonably be
expected to result in a Material Adverse Effect.  Each Loan Party has
the requisite power and authority to
enter into the Loan Documents to which it is a party and to carry out the transactions contemplated thereby.

(b)

Set forth on
Schedule 4.1(b)

to this Agreement (as such Schedule may be updated from
time to time to reflect c
hanges resulting from transactions permitted under this Agreement) is a complete

	
	
85

and accurate description of the authorized Equity Interests of each Loan Party, by class, and, as of the
Closing Date, a description of the number of shares of each such class

that are issued and outstanding.

(c)

Set forth on
Schedule 4.1(c)

to this Agreement (as such Schedule may be updated from
time to time to reflect changes resulting from transactions permitted under this Agreement), is a complete
and accurate list of the Loa
n Parties’ direct and indirect Subsidiaries, showing: (i) the number of shares of
each class of common and preferred Equity Interests authorized for each of such Subsidiaries, and (ii) the
number and the percentage of the outstanding shares of each such cl
ass owned directly or indirectly by each
Loan Party.  All of the outstanding Equity Interests of each such Subsidiary has been validly issued and is
fully paid and non
-
assessable.

(d)

Except as set forth on
Schedule 4.1(d)

to this Agreement, there are no subsc
riptions,
options, warrants, or calls relating to any shares of any Loan Party’s or any of its Subsidiaries’ Equity
Interests, including any right of conversion or exchange under any outstanding security or other instrument.
No Loan Party is subject to an
y obligation (contingent or otherwise) to repurchase or otherwise acquire or
retire any shares of its Equity Interests or any security convertible into or exchangeable for any of its Equity
Interests.

4.2

Due Authorization; No Conflict
..

(a)

As to each Loan Party,
the execution, delivery, and performance by such Loan Party of the
Loan Documents to which it is a party have been duly authorized by all necessary action on the part of such
Loan Party.

(b)

As to each Loan Party, the execution, delivery, and performance by su
ch Loan Party of the
Loan Documents to which it is a party do not and will not (i) violate any material provision of federal, state,
or local law or regulation applicable to any Loan Party or its Subsidiaries, the Governing Documents of any
Loan Party or i
ts Subsidiaries, or any order, judgment, or decree of any court or other Governmental
Authority binding on any Loan Party or its Subsidiaries where any such violation would, individually or in
the aggregate, reasonably be expected to have a Material Advers
e Effect, (ii) conflict with, result in a breach
of, or constitute (with due notice or lapse of time or both) a default under the 2026 Notes Indenture or any
other Material Contract of any Loan Party or its Subsidiaries where any such conflict, breach or d
efault
would individually or in the aggregate reasonably be expected to have a Material Adverse Effect, (iii) result
in or require the creation or imposition of any Lien of any nature whatsoever upon any assets of any Loan
Party, other than Permitted Liens
, or (iv) require any approval of any holder of Equity Interests of a Loan
Party or any approval or consent of any Person under any material agreement of any Loan Party, other than
consents or approvals that have been obtained and that are still in force a
nd effect and except, in the case
of material agreements, for consents or approvals, the failure to obtain would not individually or in the
aggregate reasonably be expected to cause a Material Adverse Effect.

4.3

Governmental Consents
..
The
execution,
delivery, and performance by each Loan Party of
the Loan Documents to which such Loan Party is a party and the consummation of the transactions
contemplated by the Loan Documents do not and will not require any registration with, consent, or approval
of, o
r notice to, or other action with or by, any Governmental Authority, other than registrations, consents,
approvals, notices, or other actions that have been obtained and that are still in force and effect or if not
obtained, individually or in the aggregat
e, would not reasonably be expected to have a Material Adverse
Effect, and except for filings and recordings with respect to the Collateral to be made, or otherwise delivered
to Agent for filing or recordation, as of the Closing Date.

4.4

Binding Obligations;
Perfected Liens
..

	
	
86

(a)

Each Loan Document has been duly executed and delivered by each Loan Party that is a
party thereto and is the legally valid and binding obligation of such Loan Party, enforceable against such
Loan Party in accordance with its respective te
rms, except as enforcement may be limited by equitable
principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting
creditors’ rights generally.

(b)

Upon execution and delivery of the Loan Documents, Agent’s Lien
s are validly created,
perfected (other than (i) in respect of motor vehicles that are subject to a certificate of title, (ii) money, (iii)
letter
-
of
-
credit rights (other than supporting obligations), (iv) commercial tort claims (other than those that,
by
the terms of the Guaranty and Security Agreement, are required to be perfected), and (v) any Deposit
Accounts and Securities Accounts not subject to a Control Agreement as permitted by
Section 7(k)

of the
Guaranty and Security Agreement, and subject only t
o the filing of financing statements, the recordation of
the Patent Security Agreement, the Trademark Security Agreement, and the Copyright Security Agreement,
in each case, in the appropriate filing offices), and first priority Liens, subject only to Perm
itted Liens which
are non
-
consensual Permitted Liens, Liens securing Permitted Purchase Money Indebtedness, the interests
of lessors under Capital Leases or, solely in the case of Note Priority Collateral, subject to Liens permitted
by clause (p) of the de
finition of Permitted Liens.

4.5

Title to Assets; No Encumbrances
..
Each of the Loan Parties and its Subsidiaries has (a)
good, sufficient and legal title to (in the case of fee interests in Real Property), (b) valid leasehold interests
in (in the case of leasehold interests in real or personal property), and (c) good and
marketable title to (in
the case of all other personal property), all of their respective Accounts, Rig Fleet Equipment and other
material assets reflected in their most recent financial statements delivered pursuant to
Section 5.1
, in each
case except for

assets disposed of since the date of such financial statements to the extent permitted hereby
and, solely as to leasehold interests, except to the extent the failure to have such valid leasehold interests
would not reasonably be expected to have a Materia
l Adverse Effect.  All of such assets are free and clear
of Liens except for Permitted Liens.

4.6

Litigation
..

(a)

There are no actions, suits, or proceedings pending or, to the knowledge of any Borrower,
threatened in writing against a Loan Party or any of its Sub
sidiaries that either individually or in the
aggregate would reasonably be expected to result in a Material Adverse Effect.

(b)

Schedule 4.6(b)

to this Agreement sets forth a complete and accurate description of each
of the actions, suits, or proceedings with
asserted liabilities in excess of, or that could reasonably be
expected to result in liabilities in excess of, $1,000,000 that, as of the Closing Date, is pending or, to the
knowledge of any Borrower threatened in writing against a Loan Party or any of its

Subsidiaries.

4.7

Compliance with Laws
..
No Loan Party nor any of its Subsidiaries (a)

is in violation of any
applicable laws, rules, regulations, executive orders, or codes (including Environmental Laws) that,
individually or in the aggregate, would reasona
bly be expected to result in a Material Adverse Effect, or
(b)

is subject to or in default with respect to any final judgments, writs, injunctions, decrees, rules or
regulations of any court or any federal, state, municipal or other governmental department
, commission,
board, bureau, agency or instrumentality, domestic or foreign, that, individually or in the aggregate, would
reasonably be expected to result in a Material Adverse Effect.

4.8

No Material Adverse Effect
..
All historical financial statements rel
ating to the Loan Parties
and their Subsidiaries that have been delivered by Borrowers to Lender have been prepared in accordance
with GAAP (except, in the case of unaudited financial statements, for the lack of footnotes and being subject
to year
-
end audi
t adjustments) and present fairly in all material respects, the Loan Parties’ and their

	
	
87

Subsidiaries’ consolidated financial condition as of the date thereof and results of operations for the period
then ended.  Since June 18, 2018, no event, circumstance,

or change has occurred that has or could
reasonably be expected to result in a Material Adverse Effect.

4.9

Solvency
..  As of the Closing Date, the Loan Parties and their Subsidiaries, taken as a whole
on a consolidated basis, are Solvent.

4.10

Employee Benefits
..

(a)

Except as set forth
on Schedule 4.10
, no Loan Party, none of their Subsidiaries, nor any of
their ERISA Affiliates maintains or contributes to any Pension Plan.  No ERISA Event has occurred that,
when taken together with all other ERISA Events for which li
ability is reasonably expected to occur, would
reasonably be expected to result in a Material Adverse Effect.

(b)

(i) No ERISA Event has occurred during the five year period prior to the date on which
this representation is made or deemed made or is reasonably

expected to occur; (ii) neither any Loan Party
nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA
with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of
E
RISA); (iii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur,
any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA,
would result in such liability) under Section 4
201 of ERISA with respect to a Multiemployer Plan; and (iv)
neither any Loan Party nor any ERISA Affiliate has engaged in a transaction that could reasonably be
expected to be subject to Sections 4069 or 4212(c) of ERISA, except, with respect to each of th
e foregoing
clauses of this Section 4.10(b), as would not reasonably be expected, individually or in the aggregate, to
result in a Material Adverse Effect.

(c)

The Pension Plans of any Loan Party and any ERISA Affiliate are funded to the extent
required by the

terms of each Pension Plan, if any, and by the requirements of any material
Law
law

applicable in the jurisdiction in which the relevant Pension Plan is maintained, and neither any Loan Party
nor any ERISA Affiliate maintains a Pension Plan that is, or is
expected to be, in at
-
risk status (as defined
in Section 303(i)(4) of ERISA or Section 430(i)(4) of the Code) in each case, except as would not
reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

4.11

Environmental Condi
tion
..
Except as set forth on
Schedule 4.11

to this Agreement, (a) to
each Borrower’s knowledge, no Loan Party’s nor any of its Subsidiaries’ properties or assets has ever been
used by a Loan Party, its Subsidiaries, or by previous owners or operators in
the disposal of, or to produce,
store, handle, treat, release, or transport, any Hazardous Materials, where such disposal, production, storage,
handling, treatment, release or transport was in violation, in any material respect, of any applicable
Environme
ntal Law, (b) [reserved], (c) no Loan Party nor any of its Subsidiaries has received written notice
that a Lien arising under any Environmental Law has attached to any revenues or to any Real Property
owned or operated by a Loan Party or its Subsidiaries,
and (d) no Loan Party nor any of its Subsidiaries nor
any of their respective facilities or operations is subject to any outstanding written order, consent decree,
or settlement agreement with any Person relating to any Environmental Law or Environmental L
iability
that, individually or in the aggregate, would reasonably be expected to result in a Material Adverse Effect.
Except as set forth on Schedule 4.11 to this Agreement, to each Borrower’s knowledge, no Loan Party’s
nor any of its Subsidiaries’ propert
ies or assets has ever been listed as a Hazardous Materials disposal site
under applicable Environmental Laws.

4.12

Complete Disclosure
..
All factual information taken as a whole (other than forward
-
looking
information and projections and information of a gene
ral economic nature and general information about
Borrowers’ industry) furnished by or on behalf of a Loan Party or its Subsidiaries in writing to Agent

	
	
88

(including all information contained in the Schedules hereto or in the other Loan Documents) for purpos
es
of or in connection with this Agreement or the other Loan Documents, and all other such factual information
taken as a whole (other than forward
-
looking information and projections and information of a general
economic nature and general information abo
ut Loan Parties’ industry) hereafter furnished by or on behalf
of a Loan Party or its Subsidiaries in writing to Agent will be, true and accurate, in all material respects, on
the date as of which such information is dated or certified and not incomplete b
y omitting to state any fact
necessary to make such information (taken as a whole) not misleading in any material respect at such time
in light of the circumstances under which such information was provided;
provided

that, in the case of
information with r
espect to Target, the foregoing representations are limited to the knowledge of Parent.
The Projections delivered to Agent on July 3, 2018 represent, and as of the date on which any other
Projections are delivered to Agent, such additional Projections rep
resent, Borrowers’ good faith estimate,
on the date such Projections are delivered, of the Loan Parties’ and their Subsidiaries’ future performance
for the periods covered thereby based upon assumptions believed by Borrowers to be reasonable at the time
of

the delivery thereof to Agent (it being understood that such Projections are subject to significant
uncertainties and contingencies, many of which are beyond the control of the Loan Parties and their
Subsidiaries, and no assurances can be given that such
Projections will be realized, and although reflecting
Borrowers’ good faith estimate, projections or forecasts based on methods and assumptions which
Borrowers believed to be reasonable at the time such Projections were prepared, are not to be viewed as
fa
cts, and that actual results during the period or periods covered by the Projections may differ materially
from projected or estimated results).

As of the Closing Date, the information included in the Beneficial
Ownership Certification is true and correct
in all respects.

4.13

Patriot Act
..
To the extent applicable, each Loan Party is in compliance, in all material
respects, with the (a) Trading with the Enemy Act, as amended, and each of the foreign assets control
regulations of the United States Treasury Depa
rtment (31 CFR, Subtitle B, Chapter V, as amended) and
any other enabling legislation or executive order relating thereto, and (b) Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Ac
t
of 2001, as amended) (the “
Patriot Act
”).

4.14

Indebtedness
..
Set forth on
Schedule 4.14

to this Agreement is a true and complete list of
all Indebtedness of each Loan Party and each of its Subsidiaries outstanding immediately prior to the
Closing Date  that

is to remain outstanding immediately after giving effect to the closing hereunder on the
Closing Date and such Schedule accurately sets forth the aggregate principal amount of such Indebtedness
as of the Closing Date.

4.15

Payment of Taxes
..
Except as otherwi
se permitted under
Section 5.5
, all federal Tax returns
and reports and all material state and local Tax returns and reports of each Loan Party and its Subsidiaries
required to have been filed by any of them have been timely filed, and all material Taxes s
hown on such
Tax returns to be due and payable and all other Taxes upon a Loan Party and its Subsidiaries and upon their
respective assets, income, businesses and franchises that are due and payable have been paid when due and
payable.  Each Loan Party and

each of its Subsidiaries have made adequate provision in accordance with
GAAP for all Taxes not yet due and payable.  No Borrower knows of any proposed material Tax assessment
against a Loan Party or any of its Subsidiaries that is not being actively cont
ested by such Loan Party or
such Subsidiary diligently, in good faith, and by appropriate proceedings;
provided
, that such reserves or
other appropriate provisions, if any, as shall be required in conformity with GAAP shall have been made
or provided there
for.

4.16

Margin Stock
..
Neither any Loan Party nor any of its Subsidiaries owns any Margin Stock
or is engaged principally, or as one of its important activities, in the business of extending credit for the
purpose of purchasing or carrying any Margin Stock.  No part of the proce
eds of the loans made to
Borrowers will be used to purchase or carry any Margin Stock or to extend credit to others for the purpose

	
	
89

of purchasing or carrying any Margin Stock or for any purpose that violates the provisions of Regulation
T, U or X of the Bo
ard of Governors.  Neither any Loan Party nor any of its Subsidiaries expects to acquire
any Margin Stock.

4.17

Governmental Regulation
..
No Loan Party nor any of its Subsidiaries is subject to
regulation under the Federal Power Act or the Investment Company A
ct of 1940 or under any other federal
or state statute or regulation which may limit its ability to incur Indebtedness or which may otherwise render
all or any portion of the Obligations unenforceable.  No Loan Party nor any of its Subsidiaries is a
“regis
tered investment company” or a company “controlled” by a “registered investment company” or a
“principal underwriter” of a “registered investment company” as such terms are defined in the Investment
Company Act of 1940.

4.18

OFAC; Sanctions; Anti
-
Corruption Law
s; Anti
-
Money Laundering Laws
..
No Loan
Party or any of its Subsidiaries is in violation of any
Sanctions
..

No Loan Party or any of its Subsidiaries
or, to the knowledge of such Loan Party, any director, officer, employee or agent of such Loan Party or
su
ch Subsidiary (a) is a Sanctioned Person or a Sanctioned Entity, (b) has any assets located in Sanctioned
Entities, or (c) derives revenues from investments in, or transactions with Sanctioned Persons or Sanctioned
Entities.

Each of the Loan Parties and i
ts Subsidiaries has implemented and maintains in effect policies
and procedures designed to ensure compliance with all Sanctions, Anti
-
Corruption Laws and Anti
-
Money
Laundering Laws.  Each of the Loan Parties and its Subsidiaries, and to the knowledge of e
ach such Loan
Party, each director, officer, employee and agent of each such Loan Party and each such Subsidiary, is in
compliance with all Sanctions, Anti
-
Corruption Laws and Anti
-
Money Laundering Laws.  No proceeds of
any Loan made or Letter of Credit is
sued hereunder will be used to fund any operations in, finance any
investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Entity, or
otherwise used in any manner that would result in a violation of any Sanction, Anti
-
Cor
ruption Law or
Anti
-
Money Laundering Law by any Person (including Agent, any Lender, any Bank Product Provider, any
Hedge Provider or any other individual or entity participating in any transaction).

4.19

Employee and Labor Matters
..
Except as would not indivi
dually or in the aggregate be
reasonably expected to have a Material Adverse Effect, t
here is (i) no unfair labor practice complaint
pending or, to the knowledge of any Borrower, threatened in writing against any Loan Party or its
Subsidiaries before any G
overnmental Authority and no grievance or arbitration proceeding pending or
threatened in writing against any Loan Party or its Subsidiaries which arises out of or under any collective
bargaining agreement, (ii) no strike, labor dispute, slowdown, stoppage

or similar action or grievance
pending or threatened in writing against any Loan Party or its Subsidiaries, or (iii) to the knowledge of any
Borrower, no union representation question existing with respect to the employees of any Loan Party or its
Subsidi
aries and no union organizing activity taking place with respect to any of the employees of any Loan
Party or its Subsidiaries.  None of any Loan Party or its Subsidiaries has incurred any material liability or
obligation under the Worker Adjustment and Re
training Notification Act or similar state law, which
remains unpaid or unsatisfied.  The hours worked and payments made to employees of each Loan Party and
its Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable

legal
requirements, except to the extent such violations would not, individually or in the aggregate, reasonably
be expected to result in a Material Adverse Effect.  All material payments due from any Loan Party or its
Subsidiaries on account of wages and

employee health and welfare insurance and other benefits have been
paid or accrued as a liability on the books of Borrowers, except where the failure to do so would not,
individually or in the aggregate, reasonably be expected to result in a Material Adve
rse Effect.

4.20

[Reserved]
..

4.21

Leases
..  Each Loan Party and its Subsidiaries enjoy peaceful and undisturbed possession
under all leases material to their business and to which they are parties or under which they are operating,

	
	
90

and, subject to Permitted
Protests, all of such material leases are valid and subsisting and no material default
by the applicable Loan Party or its Subsidiaries exists under any of them.

4.22

Eligible Accounts
..
As to each Account that is identified by Borrowers as an Eligible
Account

in a Borrowing Base Certificate submitted to Agent, such Account is (a) a bona fide existing
payment obligation of the applicable Account Debtor created by the rendition of services to such Account
Debtor in the ordinary course of a Borrower’s business, (
b) owed to such Borrower without any known
defenses, disputes, offsets, counterclaims, or rights of return or cancellation, and (c) not excluded as
ineligible by virtue of one or more of the excluding criteria (other than any Agent
-
discretionary criteria)
set
forth in the definition of Eligible Accounts.

4.23

Hedge Agreements
..  On each date that any Hedge Agreement is executed by any Hedge
Provider, Borrower and each other Loan Party satisfy all eligibility, suitability and other requirements under
the Commodit
y Exchange Act (7 U.S.C. § 1, et seq., as in effect from time to time) and the Commodity
Futures Trading Commission regulations.

4.24

Closing Date Merger Documents; Term Loan Documents
; 2026 Notes Documents
..

(a)

Borrowers have delivered to Agent a complete and cor
rect copy of the Closing Date Merger
Documents, including all schedules and exhibits thereto.  The execution, delivery and performance of each
of the Closing Date Merger Documents has been duly authorized by all necessary action on the part of each
Loan Pa
rty who is a party thereto.  Each Closing Date Merger Document is the legal, valid and binding
obligation of each Loan Party who is a party thereto, enforceable against each such Loan Party in
accordance with its terms, in each case, except (i) as may be l
imited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws relating to or affecting generally the enforcement of
creditors’ rights, and (ii) the availability of the remedy of specific performance or injunctive or other
eq
uitable relief is subject to the discretion of the court before which any proceeding therefor may be
brought.  No Loan Party is in default in the performance or compliance with any provisions thereof.  All
representations and warranties made by a Loan Part
y in the Closing Date Merger Documents and in the
certificates delivered in connection therewith are true and correct in all material respects.  To each Loan
Party’s knowledge, none of the Sellers’ representations or warranties in the Closing Date Merger
D
ocuments contain any untrue statement of a material fact or omit any fact necessary to make the statements
therein not misleading, in any case that could reasonably be expected to result in a Material Adverse Effect.

(b)

As of the Closing Date, the Closing Dat
e Merger has been consummated in all material
respects, in accordance with all applicable laws.  As of the Closing Date, all requisite approvals by
Governmental Authorities having jurisdiction over Loan Parties and, to each Loan Party’s knowledge, the
Sell
ers, with respect to the Closing Date Merger, have been obtained (including filings or approvals required
under the Hart
-
Scott
-
Rodino Antitrust Improvements Act), except for any approval the failure to obtain
could not reasonably be expected to be material

to the interests of the Lenders.  As of the Closing Date,
after giving effect to the transactions contemplated by the Closing Date Merger Documents, Parent will
have good title to all of the Equity Interests issued by the Target, free and clear of all Lie
ns other than
Permitted Liens.

(c)

No court of competent jurisdiction has issued any injunction, restraining order or other
order which prohibits consummation of the transactions described in the Closing Date Merger Documents
and no governmental or other actio
n or proceeding has been threatened or commenced, seeking any
injunction, restraining order or other order which seeks to void or otherwise modify the transactions
described in the Closing Date Merger Documents.

	
	
91

(d)

Borrowers have delivered to Agent a complete

and correct copy of the Term Loan
Documents, including all schedules and exhibits thereto, executed on the Closing Date.  The execution,
delivery and performance of each of the Term Loan Documents has been duly authorized by all necessary
action on the pa
rt of each Loan Party who is a party thereto.  Each Term Loan Document is the legal, valid
and binding obligation of each Loan Party who is a party thereto, enforceable against each such Loan Party
in accordance with its terms, in each case, except (i) as
may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws relating to or affecting generally the
enforcement of creditors’ rights, and (ii) the availability of the remedy of specific performance or injunctive
or
other equitable relief is subject to the discretion of the court before which any proceeding therefor may
be brought.

(e)

Borrowers have delivered to Agent complete and correct copies of the 2026 Notes
Documents, including all schedules and exhibits thereto, e
xecuted on the Amendment No. 3 Effective Date.
The execution, delivery and performance of each of the 2026 Notes Documents has been duly authorized
by all necessary action on the part of each Loan Party who is a party thereto.  Each 2026 Notes Document
is

the legal, valid and binding obligation of each Loan Party who is a party thereto, enforceable against each
such Loan Party in accordance with its terms, in each case, except (i) as may be limited by applicable
bankruptcy, insolvency, reorganization, mora
torium or other similar laws relating to or affecting generally
the enforcement of creditors’ rights, and (ii) the availability of the remedy of specific performance or
injunctive or other equitable relief is subject to the discretion of the court before w
hich any proceeding
therefor may be brought.

5.

AFFIRMATIVE COVENANTS.

Each Loan Party covenants and agrees that, until the termination of all of the Commitments and
the payment in full of the Obligations:

5.1

Financial Statements, Reports, Certificates
..
Borrowers (a) will d
eliver to Agent each of
the financial statements, reports, and other items set forth on
Schedule 5.1

to this Agreement no later than
the times specified therein, (b) agree that no Subsidiary of a Loan Party will have a fiscal year diffe
rent
from that of Administrative Borrower, (c) agree to maintain a system of accounting that enables Loan
Parties to produce financial statements in accordance with GAAP, and (d) agree that they will, and will
cause each other Loan Party to, (i) keep a rep
orting system that shows all additions, sales, claims, returns,
and allowances with respect to their and their Subsidiaries’ sales, and (ii) maintain their billing systems and
practices substantially as in effect as of the Closing Date and shall only make
material modifications thereto
with notice to, and with the consent of, Lender.

5.2

Reporting
..
Borrowers (a) will d
eliver to Agent each of the reports set forth on
Schedule 5.2

to this Agreement at the times specified therein, and (b) agree to use commercial
ly reasonable efforts in
cooperation with Agent to facilitate and implement a system of electronic collateral reporting in order to
provide electronic reporting of each of the items set forth on such Schedule.

Borrowers and Agent hereby
agree that the deli
very of the Borrowing Base Certificate through Agent’s electronic platform or portal,
subject to Agent’s authentication process, by such other electronic method as may be approved by Agent
from time to time in its sole discretion, or by such other electron
ic input of information necessary to
calculate the Borrowing Bases as may be approved by Agent from time to time in its sole discretion, shall
in each case be deemed to satisfy the obligation of Borrowers to deliver such Borrowing Base Certificate,
with th
e same legal effect as if such Borrowing Base Certificate had been manually executed by Borrowers
and delivered to Agent.

5.3

Existence
..
Except as otherwise permitted under
Section 6.3

or
Section 6.4
,
each Loan Party

will, and will cause each of its Subsidiaries to, at all times preserve and keep in full force and effect such

	
	
92

Person’s valid existence and good standing in its jurisdiction of organization and, except as would not
reasonably be expected to result in a Ma
terial Adverse Effect, good standing with respect to all other
jurisdictions in which it is qualified to do business and any rights, franchises, permits, licenses,
accreditations, authorizations, or other approvals material to their businesses.

5.4

Maintenance

of Properties
..
Each Loan Party

will, and will cause each of its Subsidiaries
to, m
aintain and preserve all of its assets that are necessary or useful in the proper conduct of its business
in good working order and condition, ordinary wear, tear, casualt
y, and condemnation and Permitted
Dispositions excepted (and except where the failure to so maintain and preserve assets could not reasonably
be expected to result in a Material Adverse Effect).

5.5

Taxes
..
Each Loan Party

will, and will cause each of its Sub
sidiaries to, pay in full before
delinquency or before the expiration of any extension period
all Taxes imposed, levied, or assessed against
it, or any of its assets or in respect of any of its income, businesses, or franchises, other than to the extent
th
at the validity of such Tax is the subject of a Permitted Protest.

5.6

Insurance
.. Each Loan Party

will, and will cause each of its Subsidiaries to, a
t the expense
of such Loan Party or such Subsidiary, maintain insurance respecting each of each Loan Party’s a
nd its
Subsidiaries’ assets wherever located, covering liabilities, losses or damages as are customarily are insured
against by other Persons engaged in same or similar businesses and similarly situated and located.
Borrowers also shall maintain, or cause

a Loan Party to maintain, with respect to each Loan Party and each
of its Subsidiaries, general liability insurance, flood insurance for Collateral located in a flood plain, product
liability insurance, director’s and officer’s liability insurance, fiduci
ary liability insurance, and employment
practices liability insurance, as well as insurance against larceny, embezzlement, and criminal
misappropriation.  All such policies of insurance shall be with financially sound and reputable insurance
companies acce
ptable to Agent (it being agreed that, as of the Closing Date, the insurance companies with
which the
Company maintains
Borrowers maintain

such insurance policies are acceptable to Agent) and in
such amounts as is carried generally in accordance with sound
business practice by companies in similar
businesses similarly situated and located and, in any event, in amount, adequacy, and scope reasonably
satisfactory to Agent (it being agreed that the amount, adequacy, and scope of the policies of insurance of
Bor
rowers in effect as of the Closing Date are acceptable to Agent).  All property insurance policies are to
be made payable to Agent for the benefit of Agent and Lenders, as their interests may appear, in case of
loss, pursuant to a standard loss payable end
orsement with a standard non
-
contributory “lender” or “secured
party” clause and are to contain such other provisions as Agent may reasonably require to fully protect
Agent’s and Lenders’ interest in the Collateral and to any payments to be made under such

policies.  All
certificates of property and general liability insurance are to be delivered to Agent, with the Agent’s loss
payable and additional insured endorsements in favor of Agent, and shall provide for not less than thirty
days (ten days in the cas
e of non
-
payment) prior written notice to Agent of the exercise of any right of
cancellation.  If any Loan Party or its Subsidiaries fails to maintain such insurance, Agent may arrange for
such insurance, but at Borrowers’ expense and without any responsib
ility on Agent’s part for obtaining the
insurance, the solvency of the insurance companies, the adequacy of the coverage, or the collection of
claims. Borrowers shall give Agent prompt notice of any loss exceeding $1,000,000 covered by the casualty
or busi
ness interruption insurance of any Loan Party or its Subsidiaries.  Upon the occurrence and during
the continuance of an Event of Default, Agent shall have the sole right to file claims under any property
and general liability insurance policies in respect

of the Collateral, to receive, receipt and give acquittance
for any payments that may be payable thereunder, and to execute any and all endorsements, receipts,
releases, assignments, reassignments or other documents that may be necessary to effect the col
lection,
compromise or settlement of any claims under any such insurance policies.

	
	
93

5.7

Inspection
..

(a)

Each Loan Party will, and will cause each of its Subsidiaries to, permit Agent, any Lender
and each of their respective duly authorized representatives or ag
ents to visit any of its properties and
inspect any of its assets or books and records, to examine and make copies of its books and records, and to
discuss its affairs, finances, and accounts with, and to be advised as to the same by, its officers and
empl
oyees (provided, that an authorized representative of a Borrower shall be allowed to be present) at
such reasonable times and intervals as Agent may designate and, so long as no Default or Event of Default
has occurred and is continuing, with reasonable pr
ior notice to Borrowers and during regular business hours,
at Borrowers’ expense and subject to the limitations set forth below in
Section 5.7(c)
..

(b)

Each Loan Party will, and will cause each of its Subsidiaries to, permit Agent and each of
its duly authorize
d representatives or agents to conduct field examinations at such reasonable times and
intervals as Agent may designate and, so long as no Default or Event of Default has occurred and is
continuing, with reasonable prior notice to Borrowers and during regu
lar business hours, at Borrowers’
expense, subject to the limitations set forth below in
Section 5.7(c)
..

(c)

So long as no Event of Default shall have occurred and be continuing during a calendar
year, Borrowers shall not be obligated to reimburse Agent for mo
re than one (1) field examination in such
calendar year (increasing to two (2) field examinations if an Increased Reporting Event has occurred during
such calendar year).

5.8

Compliance with Laws
..
Each Loan Party

will, and will cause each of its Subsidiaries to,
c
omply with the requirements of all applicable laws, rules, regulations, and orders of any Governmental
Authority, other than laws, rules, regulations, and orders the non
-
compliance with which, individuall
y or
in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

5.9

Environmental
..  Each Loan Party will, and will cause each of its Subsidiaries to,

(a)

Keep any property either owned or operated by any Loan Party or its Subsidiar
ies free of
any Environmental Liens or post bonds or other financial assurances sufficient to satisfy the obligations
or liability evidenced by such Environmental Liens,

(b)

Comply with all Environmental Laws other than Environmental Laws the non
-
compliance wi
th which, individually or in the aggregate, could not reasonably be expected to result in a
Material Adverse Effect,

(c)

Promptly notify Agent and Lenders of any release of which any Loan Party has
knowledge of a Hazardous Material in any reportable quantity f
rom or onto property owned or operated
by any Loan Party or its Subsidiaries and take any Remedial Actions required to abate said release or
otherwise to come into compliance with applicable Environmental Law, other than releases which,
individually or in
the aggregate, could not reasonably be expected to result in a Material Adverse Effect,
and

(d)

Promptly, but in any event within ten Business Days of its receipt thereof, provide Agent
and Lenders with written notice of any of the following: to the extent, in

the case of clauses (ii) and (iii),
any of the following could reasonably be expected to have a Material Adverse Effect:  (i) notice that an
Environmental Lien has been filed against any of the real or personal property of a Loan Party or its
Subsidiaries
, (ii) commencement of any Environmental Action or written notice that an Environmental
Action will be filed against a Loan Party or its Subsidiaries, and (iii) written notice of a violation, citation,
or other administrative order from a Governmental Auth
ority.

	
	
94

5.10

Disclosure Updates
..
Each Loan Party

will, p
romptly and in no event later than five Business
Days after obtaining knowledge thereof, notify Agent if any written information, exhibit, or report furnished
to Agent or Lenders contained, at the time it

was furnished, any untrue statement of a material fact or
omitted to state any material fact necessary to make the statements contained therein, taken as a whole, not
misleading in light of the circumstances in which made.  The foregoing to the contrary n
otwithstanding,
any notification pursuant to the foregoing provision will not cure or remedy the effect of the prior untrue
statement of a material fact or omission of any material fact nor shall any such notification have the effect
of amending or modifyi
ng this Agreement or any of the Schedules hereto.

5.11

Formation or Acquisition of Subsidiaries
..  If any
Loan Party forms or acquires any new
Subsidiary (other than an Excluded Subsidiary), such Loan Party shall, within fifteen (15) days of such
event (or such

later date as permitted by Agent), (a) cause such new Subsidiary (i) to be joined as a Borrower
hereunder pursuant to a Joinder to this Agreement or to become a Guarantor of the Obligations, as
determined by Agent, and (ii) to provide to Agent a joinder t
o the Guaranty and Security Agreement, in
each case, together with such other security agreements, as well as appropriate financing statements, all in
form and substance reasonably satisfactory to Agent (including being sufficient to grant Agent a first
pr
iority Lien (subject to Permitted Liens) in and to the assets of such newly formed or acquired Subsidiary),
(b) provide, or cause the applicable Loan Party to provide, to Agent a pledge agreement (or an addendum
to the Guaranty and Security Agreement) and
appropriate certificates and powers or financing statements,
pledging all of the direct or beneficial ownership interest in such new Subsidiary in form and substance
reasonably satisfactory to Agent;
provided
, that only 65% of the total outstanding voting
Equity Interests
of any Excluded Subsidiary described in clause (a) or (c) of the definition or Excluded Subsidiary, and (c)
provide to Agent all other documentation, including the Governing Documents of such Subsidiary and one
or more opinions of counsel
reasonably satisfactory to Agent, which, in its opinion, is appropriate with
respect to the execution and delivery of the applicable documentation referred to above.  Any document,
agreement, or instrument executed or issued pursuant to this
Section 5.11

s
hall constitute a Loan Document.

5.12

Further Assurances
..
Each Loan Party

will, and will cause each of the other Loan Parties
to, a
t any time upon the reasonable request of Agent, in writing, execute or deliver to Agent any and all
financing statements, secur
ity agreements, pledges, assignments, opinions of counsel, and all other
documents (the “
Additional Documents
”) that Agent may reasonably request in form and substance
reasonably satisfactory to Agent, to create, perfect, and continue perfected or to bette
r perfect Agent’s Liens
in all of the assets of each of the Loan Parties (whether now owned or hereafter arising or acquired, tangible
or intangible), and in order to fully consummate all of the transactions contemplated hereby and under the
other Loan Doc
uments.  To the maximum extent permitted by applicable law, if any Borrower or any other
Loan Party refuses or fails to execute or deliver any reasonably requested Additional Documents within a
reasonable period of time not to exceed 10 days following the
request to do so, each Borrower and each
other Loan Party hereby authorizes Agent to execute any such Additional Documents in the applicable Loan
Party’s name and authorizes Agent to file such executed Additional Documents in any appropriate filing
office.

In furtherance of, and not in limitation of, the foregoing, each Loan Party shall take such actions as
Agent may reasonably request, in writing, from time to time to ensure that the Obligations are guaranteed
by the Guarantors and are secured by substant
ially all of the assets of the Loan Parties, including all of the
outstanding capital Equity Interests of each Borrower and its Subsidiaries (in each case, other than with
respect to any assets consisting of Excluded Collateral) pursuant to
Section 3

of th
e Guaranty and Security
Agreement).

5.13

Location of Chief Executive Office
..
Each Loan Party

will, and will cause each of its

Subsidiaries to, keep their respective chief executive offices only at the locations identified on Schedule 7
to the Guaranty and Sec
urity Agreement.  Each Loan Party will, and will cause each of its Subsidiaries to,
use their commercially reasonable efforts to obtain Collateral Access Agreements for each of the locations
identified on Schedule 7 to the Guaranty and Security Agreement.

	
	
95

5.14

OFAC; Sanctions; Anti
-
Corruption Laws; Anti
-
Money Laundering Laws
..
Each Loan
Party

will, and will cause each of its Subsidiaries to, comply with all Sanctions, Anti
-
Corruption Laws and
Anti
-
Money Laundering Laws. Each of the Loan Parties and its Subsidia
ries will implement and maintain
in effect policies and procedures designed to ensure compliance by the Loan Parties and their Subsidiaries
and their respective directors, officers, employees and agents with, and each of the Loan Parties and their
respecti
ve Subsidiaries will comply with, all Sanctions, Anti
-
Corruption Laws and Anti
-
Money Laundering
Laws
..

6.

NEGATIVE COVENANTS.

Each Loan Party covenants and agrees that, until termination of all of the Commitments and the
payment in full of the Obligations:

6.1

Ind
ebtedness
..
Each Loan Party

will not, and will not permit any of its Subsidiaries to,
c
reate, incur, assume, suffer to exist, guarantee, or otherwise become or remain, directly or indirectly, liable
with respect to any Indebtedness, except for Permitted I
ndebtedness.

6.2

Liens
..
Each Loan Party

will not, and will not permit any of its Subsidiaries to, c
reate, incur,
assume, or suffer to exist, directly or indirectly, any Lien on or with respect to any of its assets, of any kind,
whether now owned or hereafter

acquired, or any income or profits therefrom, except for Permitted Liens.

6.3

Restrictions on Fundamental Changes
..  Each Loan Party will not, and will not permit any
of its Subsidiaries to,

(a)

Other than the Closing Date Merger, enter into any merger, consolidation, reorganization,
or recapitalization, or reclassify its Equity Interests, except for (i) any merger between Loan Parties;
provided
, that a Borrower must be the surviving entity of any

such merger to which it is a party, (ii) any
merger between a Loan Party and a Subsidiary of such Loan Party that is not a Loan Party so long as such
Loan Party is the surviving entity of any such merger, and (iii) any merger between Subsidiaries of any
L
oan Party that are not Loan Parties,

(b)

liquidate, wind up, or dissolve itself (or suffer any liquidation or dissolution), except for (i)
the liquidation or dissolution of non
-
operating Subsidiaries of any Loan Party with nominal assets and
nominal liabilitie
s, (ii) the liquidation or dissolution of a Loan Party (other than any Borrower) or any of
its wholly
-
owned Subsidiaries so long as all of the assets (including any interest in any Equity Interests) of
such liquidating or dissolving Loan Party or Subsidiar
y are transferred to a Loan Party that is not liquidating
or dissolving, or (iii) the liquidation or dissolution of a Subsidiary of any Loan Party that is not a Loan Party
(other than any such Subsidiary the Equity Interests of which (or any portion thereo
f) is subject to a Lien
in favor of Agent) so long as all of the assets of such liquidating or dissolving Subsidiary are transferred to
a Subsidiary of a Loan Party that is not liquidating or dissolving,

(c)

suspend or cease operating a substantial portion of
its or their business, except as permitted
pursuant to clauses (a) or (b) above or in connection with a transaction permitted under Section 6.4, or

(d)

change its classification/status for U.S. federal income tax purposes.

6.4

Disposal of Assets
..
Other than Perm
itted Dispositions or transactions expressly permitted
by
Sections 6.3

or
6.9
, each Loan Party

will not, and will not permit any of its Subsidiaries to,
convey, sell,
lease, license, assign, transfer, or otherwise dispose of any of its or their assets

(inc
luding by an allocation
of assets among newly divided limited liability companies pursuant to a “plan of division”)
..

	
	
96

6.5

Nature of Business
..
Each Loan Party

will not, and will not permit any of its Subsidiaries
to, m
ake any material change in the nature of i
ts or their business as described in
Schedule 6.5

to this
Agreement or acquire any properties or assets that are not reasonably related to the conduct of such business
activities;
provided
, that the foregoing shall not prevent any Loan Party and its Subsid
iaries from engaging
in any business that is reasonably related or ancillary to its or their business.

6.6

Prepayments and Amendments
..  Each Loan Party will not, and will not permit any of its
Subsidiaries to,

(a)

except in connection with Refinancing Indebtednes
s permitted by
Section 6.1
,

(i)

optionally prepay, redeem, defease, purchase, or otherwise acquire any Indebtedness
of any Loan Party or its Subsidiaries, other than (A) the Obligations in accordance with this Agreement,
(B) Hedge Obligations, (C) Permitted In
tercompany Advances or (D) Indebtedness under the 2026 Notes
Indenture and other Indebtedness so long as, in each case, each of the Payment Conditions shall be satisfied,
or

(ii)

make any mandatory payments of principal in respect of the 2026 Notes Indebtednes
s
if, as of the date of any such payment, or after giving effect thereto, an Event of Default shall exist
, or

(b)

Directly or indirectly, amend, modify, or change any of the terms or provisions of:

(i)

any agreement, instrument, document, indenture, or other writi
ng evidencing or
concerning Permitted Indebtedness other than (A) the Obligations in accordance with this Agreement, (B)
Hedge Obligations, (C) Permitted Intercompany Advances, (D) Indebtedness in respect of the 2026 Notes
Documents to the extent expressly

permitted pursuant to the Intercreditor Agreement, and (E) Indebtedness
permitted under
clauses (c)
,
(e)

and
(f)

of the definition of Permitted Indebtedness, or

(ii)

the Governing Documents of any Loan Party or any of its Subsidiaries if the effect
thereof, ei
ther individually or in the aggregate, would reasonably be expected to be materially adverse to
the interests of the Lenders.

6.7

Restricted Payments; Management Fees
..
Each Loan Party

will not, and will not permit
any of its Subsidiaries to, m
ake any Restric
ted Payment;
provided
, that so long as it is permitted by law:

(a)

So long as Parent is a “pass
-
through” tax entity for United States federal income tax
purposes, and after first providing such supporting documentation as Agent may request, Parent may
declare
and pay distributions in the amount of the Pass
-
Through Tax Liabilities.

(b)

(i) Each Subsidiary of a Loan Party may make Restricted Payments to any Loan Party and
(ii) each Subsidiary of a Loan Party that is not a Loan Party may make Restricted Payments to a
nother
Subsidiary that is not a Loan Party.

(c)

Parent may make other Restricted Payments;
provided
,
that
, each of the Payment
Conditions shall be satisfied.

(d)

Parent may pay management fees to
MSD Capital LP and its Affiliates

in an aggregate
amount not to exceed $250,000 per calendar year, so long as no Default or Event of Default shall have
occurred and be continuing or would result therefrom.

	
	
97

(e)

The Loan Parties may consummate repurchases, redemptions or other acquisitions or
r
etirements for value of Equity Interests made or deemed to be made in connection with any exercise,
vesting, settlement or exchange, as applicable, of stock options, warrants, restricted stock, restricted stock
units or other similar rights in an aggregate

amount not to exceed $5,000,000 during any calendar year and
$15,000,000 during the term of this Agreement,

provided
,
that
, each of the Payment Conditions shall be
satisfied.

(f)

So long as no Default or Event of Default shall have occurred and be continuing
or would
result therefrom, Parent may make other Restricted Payments with proceeds received by Parent from the
sale of Equity Interests of Parent other than proceeds of Specified Equity Contributions; provided that any
such Restricted Payments are made no
later than 30 days after such proceeds have been received by Parent.

6.8

Accounting Methods
..
Each Loan Party

will not, and will not permit any of its Subsidiaries
to, m
odify or change its fiscal year or its method of accounting (other than as may be required

to conform
to GAAP).

6.9

Investments
..
Each Loan Party

will not, and will not permit any of its Subsidiaries to,
directly or indirectly, make or acquire any Investment or incur any liabilities (including contingent
obligations) for or in connection with any
Investment except for Permitted Investments.

6.10

Transactions with Affiliates
..
Each Loan Party

will not, and will not permit any of its
Subsidiaries  to, d
irectly or indirectly, enter into or permit to exist any transaction with any Affiliate of any
Loan Par
ty or any of its Subsidiaries except for:

(a)

transactions (other than the payment of management, consulting, monitoring, or advisory
fees) between such Loan Party or its Subsidiaries, on the one hand, and any Affiliate of such Loan Party or
its Subsidiaries,
on the other hand, so long as such transactions are no less favorable, taken as a whole, to
such Loan Party or its Subsidiaries, as applicable, than would be obtained in an arm’s length transaction
with a non
-
Affiliate,

(b)

any indemnity provided for the benef
it of directors (or comparable managers) of a Loan
Party or one of its Subsidiaries so long as it has been approved by such Loan Party’s or such Subsidiary’s
board of directors (or comparable governing body) in accordance with applicable law,

(c)

the payment o
f reasonable compensation, severance, or employee benefit arrangements to
employees, officers, and outside directors of a Loan Party or one of its Subsidiaries in the ordinary course
of business and consistent with industry practice so long as it has been
approved by such Loan Party’s or
such Subsidiary’s board of directors (or comparable governing body) in accordance with applicable law,

(d)

(i) transactions solely among the Loan Parties, and (ii) transactions solely among
Subsidiaries of Loan Parties that are

not Loan Parties,

(e)

transactions permitted by
Section 6.3
,
Section 6.7
, or
Section 6.9
,

(f)

Permitted Indebtedness constituting Subordinated Indebtedness owing to Affiliates,
or

(g)

agreements for the non
-
exclusive licensing of intellectual property, or distributio
n of
products, in each case, among the Loan Parties and their Subsidiaries for the purpose of the counterparty
thereof operating its business, and agreements for the assignment of intellectual property from any Loan
Party or any of its Subsidiaries to any
Loan Party
, or
..

	
	
98

(h)
the Term Loan Agreement and the transactions contemplated thereby to the extent any such
Affiliate is an “Affiliated Lender” as defined in the Term Loan Agreement.

6.11

Use of Proceeds
..
Each Loan Party

will not, and will not permit any of its Subsidiaries to,
use the proceeds of any Loan made hereunder for any purpose other than (a) on the Closing Date, (i) to pay
the fees, costs, and expenses incurred in connection with this Agreement, the other Loan D
ocuments, and
the other Transactions, in each case, as set forth in the Flow of Funds Agreement, (ii) to consummate the
Refinancing, and (iii)
after application of the proceeds of loans under the Term Loan Agreement, to pay a
portion of the merger consider
ation in respect of the Closing Date Merger
[reserved]
, and (b) thereafter,
consistent with the terms and conditions hereof, for their lawful and permitted purposes; provided that (x)
no part of the proceeds of the loans made to Borrowers will be used to pu
rchase or carry any such Margin
Stock or to extend credit to others for the purpose of purchasing or carrying any such Margin Stock or for
any purpose that violates the provisions of Regulation T, U or X of the Board of Governors, (y) no part of
the procee
ds of any Loan or Letter of Credit will be used, directly or indirectly, to make any payments to a
Sanctioned Entity or a Sanctioned Person, to fund any investments, loans or contributions in, or otherwise
make such proceeds available to, a Sanctioned Enti
ty or a Sanctioned Person, to fund any operations,
activities or business of a Sanctioned Entity or a Sanctioned Person), or in any other manner that would
result in a violation of Sanctions by any Person, and (z) no part of the proceeds of any Loan or Let
ter of
Credit will be used, directly or indirectly, in furtherance of an offer, payment, promise to pay, or
authorization of the payment or giving of money, or anything else of value, to any Person in violation of
any Sanctions, Anti
-
Corruption Laws or Ant
i
-
Money Laundering Laws.

6.12

Limitation on Issuance of Equity Interests
..
E
xcept for the issuance or sale of Qualified
Equity Interests by Parent, each Loan Party

will not, and will not permit any of its Subsidiaries to,
issue or
sell any of its Equity Intere
sts.

7.

FINANCIAL COVENANT.

7.1

Fixed Charge Coverage Ratio
..
Each Borrower covenants and agrees that, until the
termination of all of the Commitments and the payment in full of the Obligations, Borrowers will maintain
a Fixed Charge Coverage Ratio, calculated
on a trailing twelve month basis and measured as of the last day
of each calendar month during any Covenant Testing Period (including the last day thereof), in each case
of at least 1.00 to 1.00.

7.2

Right to Cure
..

(a)

Notwithstanding anything to the contrary cont
ained in Section 7.1, subject to Section
7.2(b), in the event that Borrowers fail to comply with the requirements of Section 7.1 with respect to any
fiscal period, after the end of such fiscal period until the expiration of the tenth (10th) Business Day
su
bsequent to the date on which financial statements with respect to the fiscal period for which such
covenant is being measured are required to be delivered, any Person (other than a Loan Party) shall have
the right to make a Specified Equity Contribution t
o Parent (collectively, the “
Cure Right
”), and so long as
Parent actually receives cash (the “
Cure Amount
”) pursuant to the exercise of such Cure Right no later than
ten (10) Business Days after the date on which financial statements with respect to the fi
scal period for
which such covenant is being measured are required to be delivered), then the amounts for purposes of
determining compliance with the covenant in Section 7.1 shall be recalculated giving effect to the following
pro forma adjustments:

(i)

EBITDA

shall be increased, solely for the purpose of determining compliance with
the covenant in Section 7.1 and not for any other purpose under this Agreement, by an amount equal to the
Cure Amount; and

	
	
99

(ii)

if, after giving effect to the foregoing recalculations, t
he Borrowers shall then be in
compliance with the requirements of Section 7.1, the Borrowers shall be deemed to have satisfied the
requirements of Section 7.1 as of the relevant date of determination with the same effect as though there
had been no failure

to comply therewith at such date, and any applicable breach or default of Section 7.1
that had occurred shall be deemed cured for purposes of this Agreement.

(b)

Limitation on Exercise of Cure Right
..  Notwithstanding anything herein to the contrary
contained
herein or in any Loan Document, (i) no Lender shall be required to make any Loans and no
Issuing Bank shall be required to issue or amend any Letters of Credit, in each case, during the ten (10)
Business Day period referred to above, (ii) in each twelve (1
2) consecutive fiscal month period there shall
be a period of six  (6) consecutive fiscal months in which the Cure Right is not exercised, (iii) the Cure
Amount shall be no greater than one hundred (100%) percent of the amount required for purposes of
comp
liance with
Section 7.1

as provided above, (iv) the Cure Right shall not be exercised more than four
(4) times during the term of this Agreement, (v) all Specified Equity Contributions shall be disregarded for
purposes of determining any pricing, any finan
cial ratio
-
based conditions or any baskets or threshold under
this Agreement, and (vi) no Specified Equity Contribution shall result in any reduction of Indebtedness for
purposes of calculating compliance with any financial covenant under this Agreement.

8.

E
VENTS OF DEFAULT.

Any one or more of the following events shall constitute an event of default (each, an “
Event of
Default
”) under this Agreement:

8.1

Payments
..
If Borrowers fail to pay when due and payable, or when declared due and payable,
(a) all or any
portion of the Obligations consisting of interest, fees, or charges due to the Lender Group,
reimbursement of Lender Group Expenses, or other amounts (other than any portion thereof constituting
principal) constituting Obligations (including any portion th
ereof that accrues after the commencement of
an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any
such Insolvency Proceeding), and such failure continues for a period of three Business Days, (b) all or
any
portion of the principal of the Obligations, or (c) any amount payable to Issuing Bank in reimbursement of
any drawing under a Letter of Credit which have not been paid through a Revolving Loan;

8.2

Covenants
..
If any Loan Party or any of its Subsidiaries
:

(a)

fails to perform or observe any covenant or other agreement contained in any of (i)
Sections
3.6
,
5.1
,
5.2
,
5.3

(solely if any Borrower is not in existence in its jurisdiction of organization),
5.5

(solely
with respect to F.I.C.A., F.U.T.A., federal inco
me taxes and any other taxes or assessments the non
-
payment
of which may result in a Lien having priority over Agent’s Liens),
5.6
,
5.7
,
5.11
,
5.13

or
5.14

of this
Agreement, (ii)
Section 6

of this Agreement, (iii)
Section 7

of this Agreement (subject to t
he Cure Right),
or (iv)
Section 7

of the Guaranty and Security Agreement;

(b)

fails to perform or observe any covenant or other agreement contained in any of
Sections
5.3

(other than if any Borrower is not in existence in its jurisdiction of organization),
5.4
,
5.5

(other than
F.I.C.A., F.U.T.A., federal income taxes and any other taxes or assessments the non
-
payment of which may
result in a Lien having priority over Agent’s Liens),
5.8
,
5.10

and
5.12

of this Agreement and such failure
continues for a period of

fifteen (15) days after the earlier of (i) the date on which such failure shall first
become known to any officer of any Borrower, or (ii) the date on which written notice thereof is given to
Borrowers by Agent; or

(c)

fails to perform or observe any covenant

or other agreement contained in this Agreement,
or in any of the other Loan Documents, in each case, other than any such covenant or agreement that is the

	
	
100

subject of another provision of this
Section 8

(in which event such other provision of this Section
8 shall
govern), and such failure continues for a period of thirty days after the earlier of (i) the date on which such
failure shall first become known to any officer of any Borrower, or (ii) the date on which written notice
thereof is given to Borrowers
by Agent;

8.3

Judgments
..
If one or more judgments, orders, or awards for the payment of money
involving an aggregate amount of $5,000,000, or more (except to the extent fully covered (other than to the
extent of customary deductibles) by insurance pursuant t
o which the insurer has not denied coverage) is
entered or filed against a Loan Party or any of its Subsidiaries, or with respect to any of their respective
assets, and either (a) there is a period of thirty consecutive days at any time after the entry of
any such
judgment, order, or award during which (i) the same is not discharged, satisfied, vacated, or bonded pending
appeal, or (ii) a stay of enforcement thereof is not in effect, or (b) enforcement proceedings are commenced
upon such judgment, order, or

award;

8.4

Voluntary Bankruptcy, Etc
..
If an Insolvency Proceeding is commenced by a Loan Party
or any of its Subsidiaries;

8.5

Involuntary Bankruptcy, Etc
..
If an Insolvency Proceeding is commenced against a Loan
Party or any of its Subsidiaries and any of the

following events occur: (a) such Loan Party or such
Subsidiary consents to the institution of such Insolvency Proceeding against it, (b) the petition commencing
the Insolvency Proceeding is not timely controverted, (c) the petition commencing the Insolven
cy
Proceeding is not dismissed within sixty calendar days of the date of the filing thereof, (d) an interim trustee
is appointed to take possession of all or any substantial portion of the properties or assets of, or to operate
all or any substantial porti
on of the business of, such Loan Party or its Subsidiary, or (e) an order for relief
shall have been issued or entered therein;

8.6

Default under Other Agreements
..

If (a) an “event of default” occurs under the 2026 Notes
Documents or (b) there is a default i
n one or more other agreements to which a Loan Party or any of its
Subsidiaries is a party with one or more third Persons relative to a Loan Party’s or any of its Subsidiaries’
Indebtedness involving an aggregate amount of $5,000,000 or more (other than In
debtedness under the
2026 Notes Documents), and such default (i) occurs at the final maturity of the obligations thereunder, or
(ii) results in a right by such third Person, irrespective of whether exercised, to accelerate the maturity of
such Loan Party’s

or its Subsidiary’s obligations thereunder, or (c) a default in or an involuntary early
termination of one or more Hedge Agreements to which a Loan Party or any of its Subsidiaries is a party
and any Lender is a counterparty, or (d) a default in or an inv
oluntary early termination of one or more
Hedge Agreements to which a Loan Party or any of its Subsidiaries is a party and a Bank Product Provider
is not a counterparty and, in either event under this clause (d), the swap termination costs to be paid by su
ch
Loan Party or Subsidiary to the counterparty in accordance with the terms of such Hedge Agreement are
$2,000,000 or more;

8.7

Representations, Etc
..
If any warranty, representation, certificate, statement, or Record
made herein or in any other Loan Documen
t or delivered in writing to Agent or any Lender in connection
with this Agreement or any other Loan Document proves to be untrue in any material respect (except that
such materiality qualifier shall not be applicable to any representations and warranties
that already are
qualified or modified by materiality in the text thereof) as of the date of issuance or making or deemed
making thereof;

8.8

Guaranty
..
If the obligation of any Guarantor under the guaranty contained in the Guaranty
and Security Agreement or
under any other guaranty in favor of Agent is limited or terminated by operation
of law or by such Guarantor (other than in accordance with the terms of this Agreement) or if any Guarantor
repudiates or revokes or purports to repudiate or revoke any such g
uaranty;

	
	
101

8.9

Security Documents
..  If the Guaranty and Security Agreement or any other Loan Document
that purports to create a Lien, shall, for any reason, fail or cease to create a valid and perfected and, (except
to the extent of Permitted Liens which are no
n
-
consensual Permitted Liens, Liens securing Permitted
Purchase Money Indebtedness or the interests of lessors under Capital Leases) first priority Lien on the
Collateral covered thereby, or such Lien shall for any reason cease to be a perfected and first
priority Lien
(except to the extent of Permitted Liens which are non
-
consensual Permitted Liens, Liens securing
Permitted Purchase Money Indebtedness or the interests of lessors under Capital Leases), except (a) as a
result of a disposition of the applicab
le Collateral in a transaction permitted under this Agreement, (b) with
respect to Collateral the aggregate value of which, for all such Collateral, does not exceed at any time,
$2,500,000 or (c) pursuant to the terms of the Intercreditor Agreement;

8.10

Loan D
ocuments
..  The validity or enforceability of any Loan Document shall at any time
for any reason (other than solely as the result of an action or failure to act on the part of Agent) be declared
to be null and void, or a proceeding shall be commenced by a
Loan Party or its Subsidiaries, or by any
Governmental Authority having jurisdiction over a Loan Party or its Subsidiaries, seeking to establish the
invalidity or unenforceability thereof, or a Loan Party or its Subsidiaries shall deny that such Loan Party

or
its Subsidiaries has any liability or obligation purported to be created under any Loan Document;

8.11

Change of Control
..
A Change of Control shall occur, whether directly or indirectly;

8.12

ERISA
..  (i) The occurrence of any of the following events: (a) any
Loan Party or ERISA
Affiliate fails to make full payment when due of all amounts which any Loan Party or ERISA Affiliate is
required to pay as contributions, installments, or otherwise to or with respect to a Pension Plan or
Multiemployer Plan, and such fa
ilure could reasonably be expected to result in liability to any Loan Party
in excess of $1,000,000, or (b) an ERISA Event, which could reasonably be expected to result in liability
to any Loan Party in excess of $1,000,000, either individually or in the a
ggregate; or

8.13

Subordination; Intercreditor Agreement
..  (a) The provisions of the Intercreditor
Agreement shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding
and enforceable against the 2026 Notes Trustee, or
(b) the subordination provisions of the documents
evidencing or governing any Subordinated Indebtedness (together with similar provisions of the
Intercreditor Agreement, collectively, the “
Subordination Provisions
”) shall, in whole or in part, terminate,
c
ease to be effective or cease to be legally valid, binding and enforceable against any holder of such
Subordinated Indebtedness; or (c) any Person shall, directly or indirectly, disavow or contest in any manner
(A) the effectiveness, validity or enforceabi
lity of any of the Subordination Provisions, (B) that the
Subordination Provisions exist for the benefit of the Loan Parties, or (C) that all payments of principal of
or premium and interest on the applicable Subordinated Indebtedness, or realized from the

liquidation of
any property of any Loan Party, shall be subject to any Subordination Provisions applicable thereto.

9.

RIGHTS AND REMEDIES.

9.1

Rights and Remedies
..  Upon the occurrence and during the continuation of an Event of
Default, Agent may, and, at the
instruction of the Required Lenders, shall (in each case under clauses (a)
or (b) below by written notice to Lead Borrower), in addition to any other rights or remedies provided for
hereunder or under any other Loan Document or by applicable law, do any on
e or more of the following:

(a)

by written notice to Lead Borrower, (i) declare the Obligations (other than the Bank
Product Obligations), whether evidenced by this Agreement or by any of the other Loan Documents
immediately due and payable, whereupon the same

shall become and be immediately due and payable and
Borrowers shall be obligated to repay all of such Obligations in full, without presentment, demand, protest,
or further notice or other requirements of any kind, all of which are hereby expressly waived
by Borrower

	
	
102

and (ii) direct Borrowers to provide (and Borrowers agree that upon receipt of such notice Borrowers will
provide) Letter of Credit Collateralization to Agent to be held as security for Borrowers’ reimbursement
obligations for drawings that may

subsequently occur under issued and outstanding Letters of Credit;

(b)

by written notice to Lead Borrower, declare the Commitments terminated, whereupon the
Commitments shall immediately be terminated together with (i) any obligation of any Lender hereunder
to
make Revolving Loans, and (ii) the obligation of Issuing Bank to issue Letters of Credit; and

(c)

exercise all other rights and remedies available to Agent or Lenders under the Loan
Documents or applicable law.

The foregoing to the contrary notwithstanding,

upon the occurrence of any Event of Default described in
Section 8.4

or
Section 8.5
, in addition to the remedies set forth above, without any notice to Borrower or
any other Person or any act by the Lender Group, the Commitments shall automatically termin
ate and the
Obligations (other than the Bank Product Obligations), inclusive of all accrued and unpaid interest thereon
and all fees and all other amounts owing under this Agreement or under any of the other Loan Documents,
shall automatically and immediat
ely become due and payable and Borrower shall be obligated to repay all
of such Obligations in full, without presentment, demand, protest, or notice of any kind, all of which are
expressly waived by Borrower.

9.2

Remedies Cumulative
..  The rights and remedies
of the Lender Group under this Agreement,
the other Loan Documents, and all other agreements shall be cumulative.  The Lender Group shall have all
other rights and remedies not inconsistent herewith as provided under the UCC, by law, or in equity.  No
exer
cise by the Lender Group of one right or remedy shall be deemed an election, and no waiver by the
Lender Group of any Event of Default shall be deemed a continuing waiver.  No delay by the Lender Group
shall constitute a waiver, election, or acquiescence b
y it.

10.

WAIVERS; INDEMNIFICATION.

10.1

Demand; Protest; etc
..  Each Borrower waives demand, protest, notice of protest, notice of
default or dishonor, notice of payment and nonpayment, nonpayment at maturity, release, compromise,
settlement, extension, or renewal

of documents, instruments, chattel paper, and guarantees at any time held
by the Lender Group on which any Borrower may in any way be liable.

10.2

The Lender Group’s Liability for Collateral
..  Each Borrower hereby agrees that: (a) so
long as Agent complies wi
th its obligations, if any, under the UCC, the Lender Group shall not in any way
or manner be liable or responsible for: (i) the safekeeping of the Collateral, (ii) any loss or damage thereto
occurring or arising in any manner or fashion from any cause, (i
ii) any diminution in the value thereof, or
(iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person, and (b) all
risk of loss, damage, or destruction of the Collateral shall be borne by the Loan Parties.

10.3

Indemnifica
tion
..  Each Loan Party shall pay, indemnify, defend, and hold the Agent
-

Related Persons, the Lender
-
Related Persons, the Issuing Bank and each Participant (each, an “
Indemnified
Person
”) harmless (to the fullest extent permitted by law) from and against
any and all claims, demands,
suits, actions, investigations, proceedings, liabilities, fines, costs, penalties, and damages, and all reasonable
fees and disbursements of attorneys (limited to a single counsel for the Lender Group, one local counsel for
the

Lender Group in each appropriate jurisdiction and, in the case of an actual or perceived conflict of
interest involving an Indemnified Person, one counsel for such Indemnified Person), experts, or consultants
and all other costs and expenses actually incu
rred in connection therewith or in connection with the
enforcement of this indemnification (as and when they are incurred and irrespective of whether suit is
brought), at any time asserted against, imposed upon, or incurred by any of them (a) in connection

with or

	
	
103

as a result of or related to the execution and delivery (provided that Loan Parties shall not be liable for costs
and expenses (including attorneys’ fees) of any Lender (other than Wells Fargo) incurred in advising,
structuring, drafting, reviewin
g, administering or syndicating the Loan Documents), enforcement,
performance, or administration (including any restructuring or workout with respect hereto) of this
Agreement, any of the other Loan Documents, or the transactions contemplated hereby or the
reby or the
monitoring of Loan Parties’ compliance with the terms of the Loan Documents (
provided
,
that
, the
indemnification in this clause (a) shall not extend to (i) disputes solely between or among Lenders, (ii)
disputes solely between or among Lenders
and their respective Affiliates; it being understood and agreed
that the indemnification in this clause (a) shall extend to Agent (but not Lenders unless the dispute involves
an act or omission of a Loan Party) relative to disputes between or among Agent o
n the one hand, and one
or more Lenders, or one or more of their Affiliates, on the other hand, or (iii) any Taxes or any costs
attributable to Taxes, which shall be governed by
Section 16.1
), (b) with respect to any actual or prospective
investigation, li
tigation, or proceeding related to this Agreement, any other Loan Document, the making of
any Loans or issuance of any Letters of Credit, or the use of the proceeds of any Loans or Letters of Credit
provided hereunder (irrespective of whether any Indemnifi
ed Person is a party thereto), or any act,
omission, event, or circumstance in any manner related thereto, and (c) in connection with or arising out of
any presence or release of Hazardous Materials at, on, under, to or from any assets or properties owned,

leased or operated by any Loan Party or any Environmental Actions, Environmental Liabilities or Remedial
Actions related in any way to any such assets or properties of Loan Parties (each and all of the foregoing,
the “
Indemnified Liabilities
”). The forego
ing to the contrary notwithstanding, Loan Parties shall have no
obligation to any Indemnified Person under this
Section 10.3

with respect to any Indemnified Liability that
a court of competent jurisdiction finally determines to have resulted from the gross

negligence, bad faith or
willful misconduct of such Indemnified Person or its Affiliates, or its or their respective officers, directors,
employees, attorneys, or agents, or from a material breach of the material obligations of such Indemnified
Person und
er the Loan Documents.  This provision shall survive the termination of this Agreement and the
repayment of the Obligations.  If any Indemnified Person makes any payment to any other Indemnified
Person with respect to an Indemnified Liability as to which L
oan Parties were required to indemnify the
Indemnified Person receiving such payment, the Indemnified Person making such payment is entitled to be
indemnified and reimbursed by Loan Parties with respect thereto.
WITHOUT LIMITATION, THE
FOREGOING INDEMNITY

SHALL APPLY TO EACH INDEMNIFIED PERSON WITH
RESPECT TO INDEMNIFIED LIABILITIES WHICH IN WHOLE OR IN PART ARE CAUSED
BY OR ARISE OUT OF ANY NEGLIGENT ACT OR OMISSION OF SUCH INDEMNIFIED
PERSON OR OF ANY OTHER PERSON
;
PROVIDED
, THAT, THE FOREGOING INDEMNITY

SHALL NOT APPLY IF A COURT OF COMPETENT JURISDICTION ENTERS A FINAL NON
APPEALABLE JUDGMENT THAT SUCH INDEMNIFIED LIABILITIES HAVE RESULTED
PRIMARILY FROM THE GROSS NEGLIGENCE, BAD FAITH OR WILLFUL MISCONDUCT
OF SUCH INDEMNIFIED PERSON OR ITS OFFICERS, DI
RECTORS, EMPLOYEES,
ATTORNEYS, OR AGENTS
..

11.

NOTICES.

Unless otherwise provided in this Agreement, all notices or demands relating to this Agreement or
any other Loan Document shall be in writing and (except for financial statements and other informational
do
cuments which may be sent by first
-
class mail, postage prepaid) shall be personally delivered or sent by
registered or certified mail (postage prepaid, return receipt requested), overnight courier, electronic mail (at
such email addresses as a party may de
signate in accordance herewith), or telefacsimile. In the case of
notices or demands to any Loan Party or Agent, as the case may be, they shall be sent to the respective
address set forth below:

If to any Loan Party:

c/o Independence Contract Drilling, Inc
..

20475 State Highway 249

	
	
104

Suite 300

Houston, TX, 77070

Attn: Anthony Gallegos

Fax No. 713
-
800
-
7417

with copies to:

Sidley Austin LLP

1000 Louisiana Street

Suite 6000

Houston, TX 77002

Attn: David Buck

Fax No. 713
-
495
-
7799

If to Agent:

Wells
Fargo Bank, National

Association

14241 Dallas Parkway, 9th Floor

Dallas, Texas 75254
-
2936

Attn: Loan Portfolio Manager

Fax No.:  866
-
598
-
5212

with copies to:

OTTERBOURG P.C.

230 Park Avenue

New York, New York 10169

Attn:  Thomas P. Duignan, Esq.

Fax No.:
212
-
682
-
6104

Any party hereto may change the address at which they are to receive notices hereunder, by notice in writing
in the foregoing manner given to the other party.  All notices or demands sent in accordance with this
Section 11
, shall be deemed received on the earlier of the date of actual receipt or three (3) Business Days
after the deposit thereof in the mail;
provided
,
that
, (a) notices sent by overnight courier service shall be
deemed to have been given when received, (b)
notices by facsimile shall be deemed to have been given
when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have
been given at the opening of business on the next Business Day for the recipient), and (c)
notices by
electronic mail shall be deemed received upon the sender’s receipt of an acknowledgment from the intended
recipient (such as by the “return receipt requested” function, as available, return email or other written
acknowledgment).

12.

CHOICE OF LAW A
ND VENUE; JURY TRIAL WAIVER.

(a)

THE VALIDITY OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
(UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER LOAN DOCUMENT IN
RESPECT OF SUCH OTHER LOAN DOCUMENT), THE CONSTRUCTION, INTERPRETATION,
AND ENFORCEMENT HEREOF A
ND THEREOF, AND THE RIGHTS OF THE PARTIES HERETO
AND THERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR THEREUNDER
OR RELATED HERETO OR THERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
;
PROVIDED
,
HOWEVER
, THAT IF THE LAWS OF ANY JURISDICTION OTHER THAN NEW YORK SHALL
GOVERN IN REGARD TO THE VALIDITY, PRIORITY, PERFECTION OR EFFECT OF
PERFECTION OF ANY LIEN OR IN REGARD TO PROCEDURAL MATTERS AFFECTING

	
	
105

ENFORCEMENT OF ANY LIENS IN COLLATER
AL, SUCH LAWS OF SUCH OTHER
JURISDICTIONS SHALL CONTINUE TO APPLY TO THAT EXTENT.

(b)

THE PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN
CONNECTION WITH THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE
TRIED AND LITIGATED ONLY IN THE STATE AND, T
O THE EXTENT PERMITTED BY
APPLICABLE LAW, FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF
NEW YORK;
PROVIDED
,
THAT
, ANY SUIT SEEKING ENFORCEMENT AGAINST ANY
COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT AGENT’S OPTION, IN THE
COURTS OF ANY JUR
ISDICTION WHERE AGENT ELECTS TO BRING SUCH ACTION OR
WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND. EACH LOAN PARTY
AND EACH MEMBER OF THE LENDER GROUP WAIVE, TO THE EXTENT PERMITTED UNDER
APPLICABLE LAW, ANY RIGHT EACH MAY HAVE TO ASSERT THE DOCTRI
NE OF
FORUM
NON CONVENIENS

OR TO OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING IS
BROUGHT IN ACCORDANCE WITH THIS
SECTION 12(b)
..

(c)

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH LOAN
PARTY AND EACH MEMBER OF THE LENDER GROUP HEREBY WAIVE THEIR RESPEC
TIVE
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING
OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED
THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND
ALL OTHER COMMON LAW OR S
TATUTORY CLAIMS.  EACH LOAN PARTY AND EACH
MEMBER OF THE LENDER GROUP REPRESENT THAT EACH HAS REVIEWED THIS WAIVER
AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS
FOLLOWING CONSULTATION WITH LEGAL COUNSEL.  IN THE EVENT OF LITIGATION, A
COP
Y OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE
COURT.

(d)

EACH LOAN PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS
LOCATED IN THE COUNTY OF NEW YORK AND THE STATE OF N
EW YORK, IN ANY ACTION
OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS, OR FOR
RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT.  EACH OF THE PARTIES HERETO
AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE
CONCLUSIVE AND MAY
BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE
JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.  NOTHING IN THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT AGENT
MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS

AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.

13.

ASSIGNMENTS AND PARTICIPATIONS; SUCCESSORS.

13.1

Assignments and Participations
..

(a)

Subject to the conditions set forth in Section 13.1(a)(ii) below,
any Lender may assign and
delegate all or any portion of its rights and duties under the Loan Documents (including the Obligations
owed to it and its Commitments) to one or more assignees so long as such prospective assignee is an Eligible
Transferee (each
, an “
Assignee
”), with the prior written consent (such consent not be unreasonably withheld
or delayed) of:

	
	
106

(i)

Lead Borrower; provided, that, (A) no consent of Lead Borrower shall be required
(1) if an Event of Default exists or has occurred and is continuing
, or (2) in connection with an assignment
to a Related Fund or to a Person that is a Lender or an Affiliate (other than natural persons) of a Lender and
(B) Borrowers shall be deemed to have consented to a proposed assignment unless they object thereto by
written notice to Agent within five (5) Business Days after having received notice thereof; and

(ii)

Agent and Issuing Bank.

(b)

Assignments shall be subject to the following additional conditions:

(i)

no assignment may be made (i) as long as no Event of Default has oc
curred and is
continuing, any Disqualified Lender, or (ii) to a natural person,

(ii)

no assignment may be made to a Loan Party, an Affiliate of a Loan Party, any holder
of Subordinated Indebtedness,

(iii)

the amount of the Commitments and the other rights and obligat
ions of the assigning
Lender hereunder and under the other Loan Documents subject to each such assignment (determined as of
the date the Assignment and Acceptance with respect to such assignment is delivered to Agent) shall be in
a minimum amount (unless w
aived by Agent) of $5,000,000 (except such minimum amount shall not apply
to (A) an assignment or delegation by any Lender to any other Lender, an Affiliate of any Lender, or a
Related Fund of such Lender, or (B) a group of new Lenders, each of which is an

Affiliate of each other or
a Related Fund of such new Lender to the extent that the aggregate amount to be assigned to all such new
Lenders is at least $5,000,000),

(iv)

each partial assignment shall be made as an assignment of a proportionate part of all
the
assigning Lender’s rights and obligations under this Agreement,

(v)

the parties to each assignment shall execute and deliver to Agent an Assignment and
Acceptance; provided, that, Borrowers and Agent may continue to deal solely and directly with the
assigning
Lender in connection with the interest so assigned to an Assignee until written notice of such
assignment, together with payment instructions, addresses, and related information with respect to the
Assignee, have been given to Borrowers and Agent by such L
ender and the Assignee,

(vi)

unless waived by Agent, the assigning Lender or Assignee has paid to Agent, for
Agent’s separate account, a processing fee in the amount of $3,500;

(vii)

the assignee, if it is not a Lender, shall deliver to Agent an Administrative
Questi
onnaire in a form approved by Agent (the “
Administrative Questionnaire
”); and

(c)

From and after the date that Agent notifies the assigning Lender (with a copy to Lead
Borrower) that it has received an executed Assignment and Acceptance and, if applicable, pa
yment of the
required processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and
obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall be a
“
Lender
” and shall have the r
ights and obligations of a Lender under the Loan Documents, and (ii) the
assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan
Documents have been assigned by it pursuant to such Assignment and Acceptance, rel
inquish its rights
(except with respect to
Section 10.3

and
Section 16
) and be released from any future obligations under this
Agreement (and in the case of an Assignment and Acceptance covering all or the remaining portion of an
assigning Lender’s rights
and obligations under this Agreement and the other Loan Documents, such Lender
shall cease to be a party hereto and thereto);
provided
,
however
, that nothing contained herein shall release

	
	
107

any assigning Lender from obligations that survive the termination
of this Agreement, including such
assigning Lender’s obligations under
Section 15

and
Section 17.9(a)
..

(d)

By executing and delivering an Assignment and Acceptance, the assigning Lender
thereunder and the Assignee thereunder confirm to and agree with each
other and the other parties hereto
as follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes no
representation or warranty and assumes no responsibility with respect to any statements, warranties or
representatio
ns made in or in connection with this Agreement or the execution, legality, validity,
enforceability, genuineness, sufficiency or value of this Agreement or any other Loan Document furnished
pursuant hereto, (ii) such assigning Lender makes no representati
on or warranty and assumes no
responsibility with respect to the financial condition of Borrowers or the performance or observance by
Borrowers of any of their obligations under this Agreement or any other Loan Document furnished pursuant
hereto, (iii) suc
h Assignee confirms that it has received a copy of this Agreement, together with such other
documents and information as it has deemed appropriate to make its own credit analysis and decision to
enter into such Assignment and Acceptance, (iv) such Assignee

will, independently and without reliance
upon Agent, such assigning Lender or any other Lender, and based on such documents and information as
it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under this Agreement, (v) such Assignee appoints and authorizes Agent to take such actions and to exercise
such powers under this Agreement and the other Loan Documents as are delegated to Agent, by the terms
hereof and thereof, together with such powers a
s are reasonably incidental thereto, (vi) such Assignee agrees
that it will perform all of the obligations which by the terms of this Agreement are required to be performed
by it as a Lender.

(e)

Immediately upon Agent’s receipt of the required processing fee,

if applicable, and
delivery of notice to the assigning Lender pursuant to
Section 13.1(b)
, this Agreement shall be deemed to
be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the
resulting adjustment o
f the Commitments arising therefrom.  The Commitment allocated to each Assignee
shall reduce such Commitments of the assigning Lender pro tanto.

(f)

Any Lender may at any time sell to one or more commercial banks, financial institutions,
or other Persons (a “
P
articipant
”) participating interests in all or any portion of its Obligations, its
Commitment, and the other rights and interests of that Lender (the “
Originating Lender
”) hereunder and
under the other Loan Documents;
provided
,
that
, (i) the Originating Le
nder shall remain a “Lender” for all
purposes of this Agreement and the other Loan Documents and the Participant receiving the participating
interest in the Obligations, the Commitments, and the other rights and interests of the Originating Lender
hereunde
r shall not constitute a “Lender” hereunder or under the other Loan Documents and the Originating
Lender’s obligations under this Agreement shall remain unchanged, (ii) the Originating Lender shall remain
solely responsible for the performance of such obli
gations, (iii) Borrowers, Agent, and Lenders shall
continue to deal solely and directly with the Originating Lender in connection with the Originating Lender’s
rights and obligations under this Agreement and the other Loan Documents, (iv) no Lender shall t
ransfer
or grant any participating interest under which the Participant has the right to approve any amendment to,
or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent
such amendment to, or consent or wa
iver with respect to this Agreement or of any other Loan Document
would (A) extend the final maturity date of any of the Obligations hereunder in which such Participant is
participating, (B) reduce the interest rate applicable to the Obligations hereunder
in which such Participant
is participating, (C) release all or substantially all of the Collateral or guaranties (except to the extent
expressly provided herein or in any of the Loan Documents) supporting the Obligations hereunder in which
such Participant

is participating, (D) postpone the payment of, or reduce the amount of, the interest or fees
payable to such Participant through such Lender (other than a waiver of default interest), or (E) decrease
the amount or postpones the due dates of scheduled prin
cipal repayments or prepayments or premiums
payable to such Participant through such Lender, (v) no participation shall be sold (i) as long as no Event

	
	
108

of Default has occurred and is continuing, any Disqualified Lender, or (ii) to a natural person, and (vi
) all
amounts payable by Borrowers hereunder shall be determined as if such Lender had not sold such
participation, except that, if amounts outstanding under this Agreement are due and unpaid, or shall have
been declared or shall have become due and payabl
e upon the occurrence of an Event of Default, each
Participant shall be deemed to have the right of set off in respect of its participating interest in amounts
owing under this Agreement to the same extent as if the amount of its participating interest wer
e owing
directly to it as a Lender under this Agreement. The rights of any Participant only shall be derivative through
the Originating Lender with whom such Participant participates and no Participant shall have any rights
under this Agreement or the othe
r Loan Documents or any direct rights as to the other Lenders, Agent,
Borrowers, the Collections of Loan Parties, the Collateral, or otherwise in respect of the Obligations.  No
Participant shall have the right to participate directly in the making of deci
sions by Lenders among
themselves.

(g)

In connection with any such assignment or participation or proposed assignment or
participation or any grant of a security interest in, or pledge of, its rights under and interest in this
Agreement, a Lender may, subject
to the provisions of
Section 17.9
, disclose all documents and information
which it now or hereafter may have relating to the Loan Parties and their Subsidiaries and their respective
businesses.

(h)

Any other provision in this Agreement notwithstanding, any Len
der may at any time create
a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement in favor
of any Federal Reserve Bank in accordance with Regulation A of the Federal Reserve Bank or U.S. Treasury
Regulation

31 CFR §203.24, and such Federal Reserve Bank may enforce such pledge or security interest
in any manner permitted under applicable law;
provided
,
that
, no such pledge shall release such Lender
from any of its obligations hereunder or substitute any such
pledgee or assignee for such Lender as a party
hereto.

(i)

Agent shall have the right, and each Loan Party hereby expressly authorizes Agent, to
provide the list of Disqualified Lenders provided by Borrowers and any updates thereto from time to time
(collectiv
ely, the “DQ List”) to each Lender requesting the same and such Lender may so provide the DQ
List to any potential assignees or participants.

13.2

Successors
..  This Agreement shall bind and inure to the benefit of the respective successors
and assigns of each
of the parties;
provided
,
that
, Borrowers may not assign this Agreement or any rights
or duties hereunder without Lenders’ prior written consent and any prohibited assignment shall be
absolutely void ab initio.  No consent to assignment by Lenders shall re
lease Borrowers from their
obligations hereunder.  A Lender may assign this Agreement and the other Loan Documents and its rights
and duties hereunder and thereunder pursuant to
Section 13.1

and, except as expressly required pursuant to
Section 13.1
, no
consent or approval by any Loan Party is required in connection with any such assignment.

14.

AMENDMENTS; WAIVERS.

14.1

Amendments and Waivers
..

(a)

No amendment, waiver or other modification of any provision of this Agreement or any
other Loan Document (other than Bank

Product Agreements or the Fee Letter), and no consent with respect
to any departure by Loan Parties therefrom, shall be effective unless the same shall be in writing and signed
by the Required Lenders (or by Agent at the written request of the Required Le
nders) and the Loan Parties
that are party thereto and then any such waiver or consent shall be effective, but only in the specific instance
and for the specific purpose for which given;
provided
,
that
, no such waiver, amendment, or consent shall,

	
	
109

unless i
n writing and signed by all of Lenders directly affected thereby and all of the Loan Parties that are
party thereto, do any of the following:

(i)

increase the amount of or extend the expiration date of any Commitment of any
Lender or amend, modify, or eliminat
e the last sentence of
Section 2.4(c)
,

(ii)

postpone or delay any date fixed by this Agreement or any other Loan Document for
any payment of principal, interest, fees, or other amounts due hereunder or under any other Loan Document,

(iii)

reduce the principal of, or
the rate of interest on, any loan or other extension of credit
hereunder, or reduce any fees or other amounts payable hereunder or under any other Loan Document
(except (A) in connection with the waiver of applicability of
Section 2.6(c)

(which waiver shal
l be effective
with the written consent of the Required Lenders), and (B) that any amendment or modification of defined
terms used in the financial covenant in this Agreement shall not constitute a reduction in the rate of interest
or a reduction of fees f
or purposes of this clause (iii));

(iv)

amend, modify, or eliminate this Section or any provision of this Agreement
providing for consent or other action by all Lenders,

(v)

amend, modify, or eliminate
Section 15.11
,

(vi)

other than as permitted by
Section 15.11
, releas
e Agent’s Lien in and to any of the
Collateral,

(vii)

amend, modify, or eliminate the definition of “Required Lenders” , “Supermajority
Lenders” or “Pro Rata Share”,

(viii)

contractually subordinate any of Agent’s Liens (other than as expressly permitted
pursuant to th
e Intercreditor Agreement),

(ix)

other than in connection with a merger, amalgamation, liquidation, dissolution or sale
of such Person expressly permitted by the terms hereof or the other Loan Documents, release any Borrower
or all or substantially all of the G
uarantors from any obligation for the payment of money or consent to the
assignment or transfer by any Borrower or any Guarantor of any of its rights or duties under this Agreement
or the other Loan Documents,

(x)

amend, modify, or eliminate any of the provisi
ons of
Section 2.4(b)(i)
,
(ii)

or (
iii
).

(xi)

amend, modify, or eliminate any of the provisions of
Section 13.1(a)

to permit a Loan
Party, an Affiliate of a Loan Party, Parent, or an Affiliate of Parent to be permitted to become an Assignee.

(b)

No amendment, waive
r, modification, elimination, or consent shall, without written
consent of Agent, Borrowers and the Supermajority Lenders, amend, modify, or eliminate the definition of
Borrowing Base or any of the defined terms (including the definitions of Eligible Accou
nts) that are used
in such definition to the extent that any such change results in more credit being made available to
Borrowers based upon the Borrowing Base, but not otherwise, or change
Section 2.1(c)
..

(c)

No amendment, waiver, modification, elimination, or consent shall amend, modify, or
waive (i) the definition of, or any of the terms or provisions of, any Fee Letter, without the written consent
of Agent and Lead Borrower (and shall not require the written

consent of any of Lenders), and (ii) any

	
	
110

provision of Section 15 pertaining to Agent, or any other rights or duties of Agent under this Agreement or
the other Loan Documents, without the written consent of Agent, Lead Borrower, and the Required Lenders,

(d)

N
o amendment, waiver, modification, elimination, or consent shall amend, modify, or
waive any provision of this Agreement or the other Loan Documents pertaining to Issuing Bank, or any
other rights or duties of Issuing Bank under this Agreement or the other

Loan Documents, without the
written consent of Issuing Bank, Agent, Lead Borrower, and the Required Lenders,

(e)

[Reserved],

(f)

Anything in this
Section 14.1

to the contrary notwithstanding, (i) any amendment,
modification, elimination, waiver, consent, terminat
ion, or release of, or with respect to, any provision of
this Agreement or any other Loan Document that relates only to the relationship of the Lender Group among
themselves, and that does not affect the rights or obligations of Loan Parties, shall not req
uire consent by
or the agreement of any Loan Party,
and
(ii) any amendment, waiver, modification, elimination, or consent
of or with respect to any provision of this Agreement or any other Loan Document may be entered into
without the consent of, or over t
he objection of, any Defaulting Lender
..
, (iii) any amendment contemplated
by Section 2.12(d)(iii) of this Agreement in connection with a Benchmark Transition Event shall be
effective as contemplated by such Section 2.12(d)(iii) hereof and (iv) any amendmen
t contemplated by
Section 2.6(g) of this Agreement in connection with the use or administration of Term SOFR shall be
effective as contemplated by such Section 2.6(g).

14.2

Replacement of Certain Lenders
..

(a)

If (i) any action to be taken by the Lender Group or Age
nt hereunder requires the consent,
authorization, or agreement of all Lenders or all Lenders affected thereby and if such action has received
the consent, authorization, or agreement of the Required Lenders but not of all Lenders or all Lenders
affected th
ereby, or (ii) any Lender makes a claim for compensation under
Section 16
, then Lead Borrower
or Agent, upon at least five (5) Business Days prior irrevocable notice, may permanently replace any Lender
that failed to give its consent, authorization, or agr
eement (a “
Non
-
Consenting Lender
”) or any Lender that
made a claim for compensation (a “
Tax Lender
”) with one or more Replacement Lenders, and the Non
-
Consenting Lender or Tax Lender, as applicable, shall have no right to refuse to be replaced hereunder.
S
uch notice to replace the Non
-
Consenting Lender or Tax Lender, as applicable, shall specify an effective
date for such replacement, which date shall not be later than fifteen (15) Business Days after the date such
notice is given.

(b)

Prior to the effective date of such replacement, the Non
-
Consenting Lender or Tax Lender,
as applicable, and each Replacement Lender shall execute and deliver an Assignment and Acceptance,
subject only to the Non
-
Consenting Lender or Tax Lender, as applica
ble, being repaid in full its share of
the outstanding Obligations (without any premium or penalty of any kind whatsoever, but including (i) all
interest, fees and other amounts that may be due in payable in respect thereof, (ii) an assumption of its Pro
R
ata Share of participations in the Letters of Credit, and (iii) Funding Losses). If the Non
-
Consenting
Lender or Tax Lender, as applicable, shall refuse or fail to execute and deliver any such Assignment and
Acceptance prior to the effective date of such r
eplacement, Agent may, but shall not be required to, execute
and deliver such Assignment and Acceptance in the name or and on behalf of the Non
-
Consenting Lender
or Tax Lender, as applicable, and irrespective of whether Agent executes and delivers such Ass
ignment and
Acceptance, the Non
-
Consenting Lender or Tax Lender, as applicable, shall be deemed to have executed
and delivered such Assignment and Acceptance.  The replacement of any Non
-
Consenting Lender or Tax
Lender, as applicable, shall be made in acco
rdance with the terms of
Section 13.1
..  Until such time as one
or more Replacement Lenders shall have acquired all of the Obligations, the Commitments, and the other
rights and obligations of the Non
-
Consenting Lender or Tax Lender, as applicable, hereunde
r and under the

	
	
111

other Loan Documents, the Non
-
Consenting Lender or Tax Lender, as applicable, shall remain obligated to
make the Non
-
Consenting Lender’s or Tax Lender’s, as applicable, Pro Rata Share of
Advances
advances

and to purchase a participation in e
ach Letter of Credit, in an amount equal to its Pro Rata Share of such
Letters of Credit.

14.3

No Waivers; Cumulative Remedies
..  No failure by Agent or any Lender to exercise any
right, remedy, or option under this Agreement or any other Loan Document, or dela
y by Agent or any
Lender in exercising the same, will operate as a waiver thereof.  No waiver by Agent or any Lender will be
effective unless it is in writing, and then only to the extent specifically stated.  No waiver by Agent or any
Lender on any occasi
on shall affect or diminish Agent’s and each Lender’s rights thereafter to require strict
performance by Loan Parties of any provision of this Agreement.  Agent’s and each Lender’s rights under
this Agreement and the other Loan Documents will be cumulative

and not exclusive of any other right or
remedy that Agent or any Lender may have.

15.

AGENT; THE LENDER GROUP.

15.1

Appointment and Authorization of Agent
..  Each Lender hereby designates and appoints
Wells Fargo as its agent under this Agreement and the other Loa
n Documents and each Lender hereby
irrevocably authorizes (and by entering into a Bank Product Agreement, each Bank Product Provider shall
be deemed to designate, appoint, and authorize) Agent to execute and deliver each of the other Loan
Documents on its
behalf and to take such other action on its behalf under the provisions of this Agreement
and each other Loan Document and to exercise such powers and perform such duties as are expressly
delegated to Agent by the terms of this Agreement or any other Loan
Document, together with such powers
as are reasonably incidental thereto. Agent agrees to act as agent for and on behalf of Lenders (and the Bank
Product Providers) on the conditions contained in this
Section 15
..  Any provision to the contrary contained
el
sewhere in this Agreement or in any other Loan Document notwithstanding, Agent shall not have any
duties or responsibilities, except those expressly set forth herein or in the other Loan Documents, nor shall
Agent have or be deemed to have any fiduciary re
lationship with any Lender (or Bank Product Provider),
and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this
Agreement or any other Loan Document or otherwise exist against Agent. Without limiting

the generality
of the foregoing, the use of the term “agent” in this Agreement or the other Loan Documents with reference
to Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under
agency doctrine of any appl
icable law.  Instead, such term is used merely as a matter of market custom, and
is intended to create or reflect only a representative relationship between independent contracting parties.
Each Lender hereby further authorizes (and by entering into a Ban
k Product Agreement, each Bank Product
Provider shall be deemed to authorize) Agent to act as the secured party under each of the Loan Documents
that create a Lien on any item of Collateral.  Except as expressly otherwise provided in this Agreement,
Agent
shall have and may use its sole discretion with respect to exercising or refraining from exercising
any discretionary rights or taking or refraining from taking any actions that Agent expressly is entitled to
take or assert under or pursuant to this Agreem
ent and the other Loan Documents.  Without limiting the
generality of the foregoing, or of any other provision of the Loan Documents that provides rights or powers
to Agent, Lenders agree that Agent shall have the right to exercise the following powers as
long as this
Agreement remains in effect: (a) maintain, in accordance with its customary business practices, ledgers and
records reflecting the status of the Obligations, the Collateral, the Collections of the Loan Parties, and
related matters, (b) execute

or file any and all financing or similar statements or notices, amendments,
renewals, supplements, documents, instruments, proofs of claim, notices and other written agreements with
respect to the Loan Documents, or to take any other action with respect t
o any Collateral or Loan Documents
which may be necessary to perfect, and maintain perfection of, the security interests and Liens upon
Collateral pursuant to the Loan Documents, (c) make
Advances
advances
, for itself or on behalf of Lenders,
as provided in

the Loan Documents, (d) exclusively receive, apply, and distribute the Collections of the
Loan Parties as provided in the Loan Documents, (e) open and maintain such bank accounts and cash

	
	
112

management arrangements as Agent deems necessary and appropriate in

accordance with the Loan
Documents for the foregoing purposes with respect to the Collateral and the Collections of the Loan Parties,
(f) perform, exercise, and enforce any and all other rights and remedies of the Lender Group with respect
to the Loan Par
ties, the Obligations, the Collateral, the Collections of the Loan Parties, or otherwise related
to any of same as provided in the Loan Documents, and (g) incur and pay such Lender Group Expenses as
Agent may deem necessary or appropriate for the performan
ce and fulfillment of its functions and powers
pursuant to the Loan Documents.

15.2

Delegation of Duties
..  Agent may execute any of its duties under this Agreement or any
other Loan Document by or through agents, employees or attorneys in fact and shall be ent
itled to advice
of counsel concerning all matters pertaining to such duties.  Agent shall not be responsible for the
negligence or misconduct of any agent or attorney in fact that it selects as long as such selection was made
without gross negligence or wi
llful misconduct.

15.3

Liability of Agent
..  None of the Agent
-
Related Persons shall (a) be liable for any action
taken or omitted to be taken by any of them under or in connection with this Agreement or any other Loan
Document or the transactions contemplated
hereby (except for its own gross negligence or willful
misconduct), or (b) be responsible in any manner to any of Lenders (or Bank Product Providers) for any
recital, statement, representation or warranty made by the Loan Parties or Affiliates, or any offi
cer or
director thereof, contained in this Agreement or in any other Loan Document, or in any certificate, report,
statement or other document referred to or provided for in, or received by Agent under or in connection
with, this Agreement or any other Loa
n Document, or the validity, effectiveness, genuineness,
enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of the Loan
Parties or any other party to any Loan Document to perform its obligations hereunder or ther
eunder. No
Agent
-
Related Person shall be under any obligation to any Lenders (or Bank Product Providers) to ascertain
or to inquire as to the observance or performance of any of the agreements contained in, or conditions of,
this Agreement or any other Loa
n Document, or to inspect the books and records or properties of the Loan
Parties.  No Agent
-
Related Person shall have any liability to any Lender, any Loan Party or any of their
respective Affiliates if any request for a Loan, Letter of Credit or other ex
tension of credit hereunder was
not authorized by the applicable Borrower.  Agent shall not be required to take any action that, in its opinion
or in the opinion of its counsel, may expose it to liability or that is contrary to any Loan Document or
applica
ble law or regulation.

15.4

Reliance by Agent
..  Agent shall be entitled to rely, and shall be fully protected in relying,
upon any writing, resolution, notice, consent, certificate, affidavit, letter, telegram, telefacsimile or other
electronic method of trans
mission, telex or telephone message, statement or other document or conversation
believed by it to be genuine and correct and to have been signed, sent, or made by the proper Person or
Persons, and upon advice and statements of legal counsel (including cou
nsel to Loan Parties or counsel to
any Lender), independent accountants and other experts selected by Agent. Agent shall be fully justified in
failing or refusing to take any action under this Agreement or any other Loan Document unless Agent shall
first r
eceive such advice or concurrence of Lenders as it deems appropriate and until such instructions are
received, Agent shall act, or refrain from acting, as it deems advisable.  If Agent so requests, it shall first
be indemnified to its reasonable satisfacti
on by Lenders (and, if it so elects, the Bank Product Providers)
against any and all liability and expense that may be incurred by it by reason of taking or continuing to take
any such action.  Agent shall in all cases be fully protected in acting, or in r
efraining from acting, under this
Agreement or any other Loan Document in accordance with a request or consent of the Required Lenders
and such request and any action taken or failure to act pursuant thereto shall be binding upon all of Lenders
(and Bank P
roduct Providers).

15.5

Notice of Default or Event of Default
..  Agent shall not be deemed to have knowledge or
notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment

	
	
113

of principal, interest, fees, and expense
s required to be paid to Agent for the account of Lenders and, except
with respect to Events of Default of which Agent has actual knowledge, unless Agent shall have received
written notice from a Lender or Borrowers referring to this Agreement, describing
such Default or Event
of Default, and stating that such notice is a “notice of default.” Agent promptly will notify Lenders of its
receipt of any such notice or of any Event of Default of which Agent has actual knowledge.  If any Lender
obtains actual know
ledge of any Event of Default, such Lender promptly shall notify the other Lenders and
Agent of such Event of Default.  Each Lender shall be solely responsible for giving any notices to its
Participants, if any.  Subject to
Section 15.4
, Agent shall take s
uch action with respect to such Default or
Event of Default as may be requested by the Required Lenders in accordance with
Section 9
;
provided
,
that
,
unless and until Agent has received any such request, Agent may (but shall not be obligated to) take such
action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem
advisable.

15.6

Credit Decision
..  Each Lender (and Bank Product Provider) acknowledges that none of the
Agent
-
Related Persons has made any representat
ion or warranty to it, and that no act by Agent hereinafter
taken, including any review of the affairs of Loan Parties and their Affiliates, shall be deemed to constitute
any representation or warranty by any Agent
-
Related Person to any Lender (or Bank Pro
duct Provider).
Each Lender represents (and by entering into a Bank Product Agreement, each Bank Product Provider shall
be deemed to represent) to Agent that it has, independently and without reliance upon any Agent
-
Related
Person and based on such due di
ligence, documents and information as it has deemed appropriate, made its
own appraisal of and investigation into the business, prospects, operations, property, financial and other
condition and creditworthiness of any Loan Party or any other Person party
to a Loan Document, and all
applicable bank regulatory laws relating to the transactions contemplated hereby, and made its own decision
to enter into this Agreement and to extend credit to Borrowers. Each Lender also represents (and by entering
into a Bank

Product Agreement, each Bank Product Provider shall be deemed to represent) that it will,
independently and without reliance upon any Agent
-
Related Person and based on such documents and
information as it shall deem appropriate at the time, continue to ma
ke its own credit analysis, appraisals
and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to
make such investigations as it deems necessary to inform itself as to the business, prospects, operations,
propert
y, financial and other condition and creditworthiness of Borrowers or any other Person party to a
Loan Document. Except for notices, reports, and other documents expressly herein required to be furnished
to Lenders by Agent, Agent shall not have any duty o
r responsibility to provide any Lender (or Bank
Product Provider) with any credit or other information concerning the business, prospects, operations,
property, financial and other condition or creditworthiness of Borrowers or any other Person party to a L
oan
Document that may come into the possession of any of the Agent
-
Related Persons.  Each Lender
acknowledges (and by entering into a Bank Product Agreement, each Bank Product Provider shall be
deemed to acknowledge) that Agent does not have any duty or re
sponsibility, either initially or on a
continuing basis (except to the extent, if any, that is expressly specified herein) to provide such Lender (or
Bank Product Provider) with any credit or other information with respect to any Borrower, its Affiliates o
r
any of their respective business, legal, financial or other affairs, and irrespective of whether such
information came into Agent’s or its Affiliates’ or representatives’ possession before or after the date on
which such Lender became a party to this Agr
eement (or such Bank Product Provider entered into a Bank
Product Agreement).

15.7

Costs and Expenses; Indemnification
..  Agent may incur and pay Lender Group Expenses
to the extent Agent reasonably deems necessary or appropriate for the performance and fulfill
ment of its
functions, powers, and obligations pursuant to the Loan Documents, including court costs, attorneys’ fees
and expenses, fees and expenses of financial accountants, advisors, consultants, and appraisers, costs of
collection by outside collection

agencies, auctioneer fees and expenses, and costs of security guards or
insurance premiums paid to maintain the Collateral, whether or not Loan Parties are obligated to reimburse
Agent or Lenders for such expenses pursuant to this Agreement or otherwise.
Agent is authorized and

	
	
114

directed to deduct and retain sufficient amounts from the Collections Loan Parties received by Agent to
reimburse Agent for such out
-
of
-
pocket costs and expenses prior to the distribution of any amounts to
Lenders (or Bank Product P
roviders).  In the event Agent is not reimbursed for such costs and expenses by
Loan Parties, each Lender hereby agrees that it is and shall be obligated to pay to Agent such Lender’s
ratable thereof.  Whether or not the transactions contemplated hereby ar
e consummated, each of Lenders,
on a ratable basis, shall indemnify and defend the Agent
-
Related Persons (to the extent not reimbursed by
or on behalf of Loan Parties and without limiting the obligation of Loan Parties to do so) from and against
any and al
l Indemnified Liabilities;
provided
,
however
, that no Lender shall be liable for the payment to
any Agent
-
Related Person of any portion of such Indemnified Liabilities resulting solely from such Person’s
gross negligence or willful misconduct nor shall any

Lender be liable for the obligations of any Defaulting
Lender in failing to make an
Advance
advance

or other extension of credit hereunder.  Without limitation
of the foregoing, each Lender shall reimburse Agent upon demand for such Lender’s ratable share
of any
costs or out of pocket expenses (including attorneys, accountants, advisors, and consultants fees and
expenses) incurred by Agent in connection with the preparation, execution, delivery, administration,
modification, amendment, or enforcement (wheth
er through negotiations, legal proceedings or otherwise)
of, or legal advice in respect of rights or responsibilities under, this Agreement or any other Loan Document
to the extent that Agent is not reimbursed for such expenses by or on behalf of Borrowers
.. The undertaking
in this Section shall survive the payment of all Obligations hereunder and the resignation or replacement of
Agent.

15.8

Agent in Individual Capacity
..  Wells Fargo and its Affiliates may make loans to, issue
letters of credit for the account
of, accept deposits from, provide Bank Products to, acquire equity interests
in, and generally engage in any kind of banking, trust, financial advisory, underwriting, or other business
with Loan Parties and their Affiliates and any other Person party to an
y Loan Document as though Wells
Fargo were not Agent hereunder, and, in each case, without notice to or consent of the other members of
the Lender Group.  The other members of the Lender Group acknowledge (and by entering into a Bank
Product Agreement, eac
h Bank Product Provider shall be deemed to acknowledge) that, pursuant to such
activities, Wells Fargo or its Affiliates may receive information regarding Loan Parties or their Affiliates
or any other Person party to any Loan Documents that is subject to c
onfidentiality obligations in favor of
Loan Parties or such other Person and that prohibit the disclosure of such information to Lenders (or Bank
Product Providers), and Lenders acknowledge (and by entering into a Bank Product Agreement, each Bank
Product
Provider shall be deemed to acknowledge) that, in such circumstances (and in the absence of a
waiver of such confidentiality obligations, which waiver Agent will use its reasonable best efforts to obtain),
Agent shall not be under any obligation to provide

such information to them.  The terms “Lender” and
“Lenders” include Wells Fargo in its individual capacity.

15.9

Successor Agent
..  Agent may resign as Agent upon forty
-
five (45) days prior written notice
to Lenders (unless such notice is waived by the Require
d Lenders) and Lead Borrower (unless such notice
is waived by Lead Borrower or a Default or Event of Default has occurred and is continuing) and without
any notice to the Bank Product Providers.  If Agent resigns under this Agreement, the Required Lenders
shall be entitled, with (so long as no Event of Default has occurred and is continuing) the consent of Lead
Borrower (such consent not to be unreasonably withheld, delayed, or conditioned), appoint a successor
Agent from among Lenders (and the Bank Product

Providers).  If, at the time that Agent’s resignation is
effective, it is acting as Issuing Bank, such resignation shall also operate to effectuate its resignation as
Issuing Bank, and it shall automatically be relieved of any further obligation to issue
Letters of Credit.  If
no successor Agent is appointed prior to the effective date of the resignation of Agent, Agent may appoint,
after consulting with Lenders and Lead Borrower, a successor Agent.  If Agent has materially breached or
failed to perform an
y material provision of this Agreement or of applicable law, the Required Lenders
(excluding Agent) may agree in writing to remove and replace Agent with a successor Agent from among
Lenders with (so long as no Event of Default has occurred and is continui
ng) the consent of Lead Borrower
(such consent not to be unreasonably withheld, delayed, or conditioned).  In any such event, upon the

	
	
115

acceptance of its appointment as successor Agent hereunder, such successor Agent shall succeed to all the
rights, powers,

and duties of the retiring Agent and the term “Agent” shall mean such successor Agent and
the retiring Agent’s appointment, powers, and duties as Agent shall be terminated.  After any retiring
Agent’s resignation hereunder as Agent, the provisions of this

Section 15

shall inure to its benefit as to any
actions taken or omitted to be taken by it while it was Agent under this Agreement.  If no successor Agent
has accepted appointment as Agent by the date which is thirty (30) days following a retiring Agent’s

notice
of resignation, the retiring Agent’s resignation shall nevertheless thereupon become effective and Lenders
shall perform all of the duties of Agent hereunder until such time, if any, as Lenders appoint a successor
Agent as provided for above.

15.10

Lender in Individual Capacity
..  Any Lender and its respective Affiliates may make loans
to, issue letters of credit for the account of, accept deposits from, provide Bank Products to, acquire equity
interests in and generally engage in any kind of banking
, trust, financial advisory, underwriting, or other
business with Loan Parties and their Affiliates and any other Person party to any Loan Documents as though
such Lender were not a Lender hereunder without notice to or consent of the other members of the
Lender
Group (or the Bank Product Providers).  The other members of the Lender Group acknowledge (and by
entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge)
that, pursuant to such activities, such Lender and i
ts respective Affiliates may receive information regarding
Loan Parties or their or any other Person party to any Loan Documents that is subject to confidentiality
obligations in favor of Loan Parties or such other Person and that prohibit the disclosure o
f such information
to Lenders, and Lenders acknowledge (and by entering into a Bank Product Agreement, each Bank Product
Provider shall be deemed to acknowledge) that, in such circumstances (and in the absence of a waiver of
such confidentiality obligation
s, which waiver such Lender will use its reasonable best efforts to obtain),
such Lender shall not be under any obligation to provide such information to them.

15.11

Collateral Matters
..

(a)

Lenders hereby irrevocably authorize (and by entering into a Bank Product Ag
reement,
each Bank Product Provider shall be deemed to authorize) Agent to release any Lien on any Collateral (i)
upon the termination of the Commitments and payment and satisfaction in full by Borrower of all of the
Obligations, (ii) constituting property

being sold or disposed of if a release is required or desirable in
connection therewith and if Borrower certifies to Agent that the sale or disposition is permitted under
Section 6.4

(and Agent may rely conclusively on any such certificate, without furthe
r inquiry), (iii)
constituting property in which Loan Parties owned no interest at the time Agent’s Lien was granted nor at
any time thereafter, (iv) constituting property leased to any Loan Party under a lease that has expired or is
terminated in a transa
ction permitted under this Agreement, or (v) to the extent the Agent is required to
release its Lien on Note Priority Collateral pursuant to the Intercreditor Agreement. The Loan Parties and
Lenders hereby irrevocably authorize  (and by entering into a Ban
k Product Agreement, each Bank Product
Provider shall be deemed to authorize) Agent, based upon the instruction of the Required Lenders and if
practicable, following consultation with all Lenders, to (a) consent to, credit bid or purchase (either directly
or through one or more acquisition vehicles) all or any portion of the Collateral at any sale thereof conducted
under the provisions of the Bankruptcy Code, including under Section 363 of the Bankruptcy Code or other
Insolvency Laws, (b) credit bid or purc
hase (either directly or through one or more acquisition vehicles) all
or any portion of the Collateral at any sale or other disposition thereof conducted under the provisions of
the UCC, including pursuant to Sections 9
-

610 or 9
-
620 of the UCC or other I
nsolvency Laws, or (c) credit
bid or purchase (either directly or through one or more acquisition vehicles) all or any portion of the
Collateral at any other sale or foreclosure conducted by Agent (whether by judicial action or otherwise) in
accordance wit
h applicable law. In connection with any such credit bid or purchase, the Obligations owed
to Lenders and the Bank Product Providers shall be entitled to be, and shall be, credit bid on a ratable basis
(with Obligations with respect to contingent or unliqu
idated claims being estimated for such purpose if the
fixing or liquidation thereof would not unduly delay the ability of Agent to credit bid or purchase at such

	
	
116

sale or other disposition of the Collateral and, if such claims cannot be estimated without un
duly delaying
the ability of Agent to credit bid, then such claims shall be disregarded, not credit bid, and not entitled to
any interest in the asset or assets purchased by means of such credit bid) and Lenders and the Bank Product
Providers whose Obligat
ions are credit bid shall be entitled to receive interests (ratably based upon the
proportion of their Obligations credit bid in relation to the aggregate amount of Obligations so credit bid)
in the asset or assets so purchased (or in the Equity Interests
of the acquisition vehicle or vehicles that are
used to consummate such purchase). Except as provided above, Agent will not execute and deliver a release
of any Lien on any Collateral without the prior written authorization of (x) if the release is of all
or
substantially all of the Collateral, all of Lenders (without requiring the authorization of the Bank Product
Providers), or (y) otherwise, the Required Lenders (without requiring the authorization of the Bank Product
Providers).  Upon request by Agent o
r Lead Borrower at any time, Lenders will (and if so requested, the
Bank Product Providers will) confirm in writing Agent’s authority to release any such Liens on particular
types or items of Collateral pursuant to this
Section 15.11
;
provided
,
that
, (1) a
nything to the contrary
contained in any Loan Documents notwithstanding, Agent shall not be required to execute any document
necessary to evidence such release on terms that, in Agent’s opinion, would expose Agent to liability or
create any obligation or e
ntail any consequence other than the release of such Lien without recourse,
representation, or warranty, and (2) such release shall not in any manner discharge, affect, or impair the
Obligations or any Liens (other than those expressly being released) upon

(or obligations of Loan Parties
in respect of) all interests retained by Loan Parties, including, the proceeds of any sale, all of which shall
continue to constitute part of the Collateral. Each Lender further hereby irrevocably authorizes (and by
enterin
g into a Bank Product Agreement, each Bank Product Provider shall be deemed to authorizes) Agent,
at its option and in its sole discretion, to subordinate any Lien granted to or held by Agent under any Loan
Document (a) to the holder of any Permitted Lien
on such property if such Permitted Lien secures Permitted
Purchase Money Indebtedness or, subject to the Intercreditor Agreement, the obligations of Loan Parties
under the 2026 Notes Documents and (b) to the extent Agent has the authority under this
Sectio
n 15.11

to
release its Lien on such property.

(b)

Agent shall have no obligation whatsoever to any of Lenders (or the Bank Product
Providers) to assure that the Collateral exists or is owned any Loan Party or is cared for, protected, or
insured or has been enc
umbered, or that Agent’s Liens have been properly or sufficiently or lawfully
created, perfected, protected, or enforced or are entitled to any particular priority, or that any particular
items of Collateral meet the eligibility criteria applicable in resp
ect thereof or whether to impose, maintain,
reduce, or eliminate any particular reserve hereunder or whether the amount of any such reserve is
appropriate or not, or to exercise at all or in any particular manner or under any duty of care, disclosure or
fi
delity, or to continue exercising, any of the rights, authorities and powers granted or available to Agent
pursuant to any of the Loan Documents, it being understood and agreed that in respect of the Collateral, or
any act, omission, or event related there
to, subject to the terms and conditions contained herein, Agent may
act in any manner it may deem appropriate, in its sole discretion given Agent’s own interest in the Collateral
in its capacity as one of Lenders and that Agent shall have no other duty or
liability whatsoever to any
Lender (or Bank Product Provider) as to any of the foregoing, except as otherwise provided herein.

(c)

Lenders hereby authorize Agent to enter into the Intercreditor Agreement or other
subordination or intercreditor agreement or arr
angement permitted under this Agreement and Lenders
acknowledge that any such subordination or intercreditor agreement is binding upon Lenders.

15.12

Restrictions on Actions by Lenders; Sharing of Payments
..

(a)

Each Lender agrees that it shall not, without the expre
ss written consent of Agent, and that
it shall, to the extent it is lawfully entitled to do so, upon the written request of Agent, set off against the
Obligations, any amounts owing by such Lender to Loan Parties or any deposit accounts of Loan Parties
now

or hereafter maintained with such Lender.  Each Lender further agrees that it shall not, unless

	
	
117

specifically requested to do so in writing by Agent, take or cause to be taken any action, including, the
commencement of any legal or equitable proceedings to

enforce any Loan Document against any Borrower
or any Guarantor or to foreclose any Lien on, or otherwise enforce any security interest in, any of the
Collateral.

(b)

If, at any time or times any Lender shall receive (i) by payment, foreclosure, setoff, or
ot
herwise, any proceeds of Collateral or any payments with respect to the Obligations, except for any such
proceeds or payments received by such Lender from Agent pursuant to the terms of this Agreement, or (ii)
payments from Agent in excess of such Lender’s

Pro Rata Share of all such distributions by Agent, such
Lender promptly shall (A) turn the same over to Agent, in kind, and with such endorsements as may be
required to negotiate the same to Agent, or in immediately available funds, as applicable, for the

account
of all of Lenders and for application to the Obligations in accordance with the applicable provisions of this
Agreement, or (B) purchase, without recourse or warranty, an undivided interest and participation in the
Obligations owed to the other Le
nders so that such excess payment received shall be applied ratably as
among Lenders in accordance with their Pro Rata Shares;
provided
,
that
, to the extent that such excess
payment received by the purchasing party is thereafter recovered from it, those pu
rchases of participations
shall be rescinded in whole or in part, as applicable, and the applicable portion of the purchase price paid
therefor shall be returned to such purchasing party, but without interest except to the extent that such
purchasing party

is required to pay interest in connection with the recovery of the excess payment.

15.13

Agency for Perfection
..  Agent hereby appoints each other Lender (and each Bank Product
Provider) as its agent or trustee (and each Lender hereby accepts (and by entering i
nto a Bank Product
Agreement, each Bank Product Provider shall be deemed to accept) such appointment) for the purpose of
perfecting Agent’s Liens in assets which, in accordance with Article 8 or Article 9, as applicable, of the
UCC can be perfected by poss
ession or control.  Should any Lender obtain possession or control of any
such Collateral, such Lender shall notify Agent thereof, and, promptly upon Agent’s request therefor shall
deliver possession or control of such Collateral to Agent or in accordance
with Agent’s instructions.

15.14

Payments by Agent to Lenders
..  All payments to be made by Agent to Lenders (or Bank
Product Providers) shall be made by bank wire transfer of immediately available funds pursuant to such
wire transfer instructions as each party
may designate for itself by written notice to Agent.  Concurrently
with each such payment, Agent shall identify whether such payment (or any portion thereof) represents
principal, premium, fees, or interest of the Obligations.

15.15

Concerning the Collateral and

Related Loan Documents
..  Each member of the Lender
Group authorizes and directs Agent to enter into this Agreement and the other Loan Documents.  Each
member of the Lender Group agrees (and by entering into a Bank Product Agreement, each Bank Product
Pro
vider shall be deemed to agree) that any action taken by Agent in accordance with the terms of this
Agreement or the other Loan Documents relating to the Collateral and the exercise by Agent of its powers
set forth therein or herein, together with such oth
er powers that are reasonably incidental thereto, shall be
binding upon all of Lenders (and such Bank Product Provider).

15.16

Field Examination Reports; Confidentiality; Disclaimers by Lenders; Other Reports
and Information
..  By becoming a party to this Agree
ment, each Lender:

(a)

is deemed to have requested that Agent furnish such Lender, promptly after it becomes
available, a copy of each field audit or examination report respecting Loan Parties (each, a “
Report
”)
prepared by or at the request of Agent, and Agen
t shall so furnish each Lender with such Reports,

	
	
118

(b)

expressly agrees and acknowledges that Agent does not (i) make any representation or
warranty as to the accuracy of any Report, and (ii) shall not be liable for any information contained in any
Report,

(c)

expr
essly agrees and acknowledges that the Reports are not comprehensive audits or
examinations, that Agent or other party performing any audit or examination will inspect only specific
information regarding Loan Parties and will rely significantly upon Loan P
arties’ books and records, as
well as on representations of Loan Parties’ personnel,

(d)

agrees to keep all Reports and other material, non
-
public information regarding Loan
Parties and their operations, assets, and existing and contemplated business plans in
a confidential manner
in accordance with
Section 17.9
, and

(e)

without limiting the generality of any other indemnification provision contained in this
Agreement, agrees: (i) to hold Agent and any other Lender preparing a Report harmless from any action
the in
demnifying Lender may take or fail to take or any conclusion the indemnifying Lender may reach or
draw from any Report in connection with any loans or other credit accommodations that the indemnifying
Lender has made or may make to Borrowers, or the indemn
ifying Lender’s participation in, or the
indemnifying Lender’s purchase of, a loan or loans hereunder, and (ii) to pay and protect, and indemnify,
defend and hold Agent, and any such other Lender preparing a Report harmless from and against, the claims,
ac
tions, proceedings, damages, costs, expenses, and other amounts (including, attorneys’ fees and costs)
incurred by Agent and any such other Lender preparing a Report as the direct or indirect result of any third
parties who might obtain all or part of any
Report through the indemnifying Lender.

In addition to the foregoing: (x) any Lender may from time to time request of Agent in writing that Agent
provide to such Lender a copy of any report or document provided by Loan Parties to Agent that has not
been
contemporaneously provided by Loan Parties to such Lender, and, upon receipt of such request, Agent
promptly shall provide a copy of same to such Lender, (y) to the extent that Agent is entitled, under any
provision of the Loan Documents, to request additi
onal reports or information from Loan Parties, any
Lender may, from time to time, reasonably request Agent to exercise such right as specified in such
Lender’s notice to Agent, whereupon Agent promptly shall request of Loan Parties the additional reports
o
r information reasonably specified by such Lender, and, upon receipt thereof from Loan Parties, Agent
promptly shall provide a copy of same to such Lender, and (z) any time that Agent renders to Loan Parties
a statement regarding the Loan Account, Agent sh
all send a copy of such statement to each Lender.

15.17

Several Obligations; No Liability
..  Notwithstanding that certain of the Loan Documents
now or hereafter may have been or will be executed only by or in favor of Agent in its capacity as such,
and not by or

in favor of Lenders, any and all obligations on the part of Agent (if any) to make any credit
available hereunder shall constitute the several (and not joint) obligations of the respective Lenders on a
ratable basis, according to their respective Commitme
nts, to make an amount of such credit not to exceed,
in principal amount, at any one time outstanding, the amount of their respective Commitments. Nothing
contained herein shall confer upon any Lender any interest in, or subject any Lender to any liability

for, or
in respect of, the business, assets, profits, losses, or liabilities of any other Lender.  Each Lender shall be
solely responsible for notifying its Participants of any matters relating to the Loan Documents to the extent
any such notice may be re
quired, and no Lender shall have any obligation, duty, or liability to any
Participant of any other Lender.  Except as provided in
Section 15.7
, no member of the Lender Group shall
have any liability for the acts of any other member of the Lender Group.  N
o Lender shall be responsible
to any Loan Party or any other Person for any failure by any other Lender (or Bank Product Provider) to
fulfill its obligations to make credit available hereunder, nor to advance for such Lender (or Bank Product
Provider) or o
n its behalf, nor to take any other action on behalf of such Lender (or Bank Product Provider)
hereunder or in connection with the financing contemplated herein.

	
	
119

15.18

Sole Lead Arranger and Book Runner
..  The Sole Lead Arranger and Book Runner, in
such capacity
, shall not have any right, power, obligation, liability, responsibility, or duty under this
Agreement other than those applicable to it in its capacity as a Len
der, as Agent,
or as Issuing Bank.
Without limiting t
he foregoing, the Sole Lead Arranger and
Book Runner
, in such capacity
, shall not have
or be deemed to have any fiduciary relationship with any Lender or any Loan Party.  E
ach Lender, Agent,

Issuing Bank, and each Loan Party acknowledges that it has not relied,

and will not rely, on the Sole Lead

Arranger and Bo
ok Runner

in deciding to enter into this Agreement or in taking or not tak
ing action
hereunder.  The Sole Lead Arranger and
Book Runner, in such capac
ity
, shall be entitled to resign at any
time by giving notice to Agent and Borrowers.

16.

TAX
MATTERS.

16.1

Payments
..  All payments made by any Loan Party under any Loan Document will be made
free and clear of, and without deduction or withholding for, any Taxes, except as otherwise required by
applicable law, and in the event any deduction or withhold
ing of Taxes is required, the applicable Loan
Party shall make the requisite withholding, promptly pay over to the applicable Governmental Authority
the withheld tax, and furnish to Agent as promptly as possible after the date the payment of any such Tax
i
s due pursuant to applicable law, certified copies of tax receipts evidencing such payment by the Loan
Parties.  Furthermore, if any such Tax is an Indemnified Tax, the sum payable by the applicable Loan Party
shall be increased as necessary so that after
such deduction or withholding has been made, including such
deductions and withholdings applicable to additional sums payable under this
Section 16.1
, the applicable
recipient receives an amount equal to the sum it would have received had no such deduction

or withholding
been made. The Loan Parties will promptly pay any Other Taxes or reimburse Agent for such Other Taxes
upon Agent’s demand.  The Loan Parties shall jointly and severally indemnify each Indemnified Person (as
defined in
Section 10.3
) (collect
ively a “
Tax Indemnitee
”) for the full amount of Indemnified Taxes arising
in connection with this Agreement or any other Loan Document or breach thereof by any Loan Party
(including, without limitation, any Indemnified Taxes imposed or asserted on, or att
ributable to, amounts
payable under this
Section 16.1
) imposed on, or paid by, such Tax Indemnitee and all reasonable,
documented out
-
of
-
pocket costs and expenses related thereto (including reasonable fees and disbursements
of attorneys and other tax profe
ssionals), as and when they are incurred and irrespective of whether suit is
brought, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the
relevant Governmental Authority (other than Indemnified Taxes and additional am
ounts that a court of
competent jurisdiction finally determines to have resulted from the gross negligence or willful misconduct
of such Tax Indemnitee).  The obligations of the
Loan
Parties under this Section 16 shall survive the
termination of this Agree
ment, the resignation and replacement of the Agent, and the repayment of the
Obligations.

16.2

Exemptions
..

(a)

If a Lender or Participant is entitled to claim an exemption or reduction from United States
withholding tax, such Lender or Participant agrees with and i
n favor of Agent, to deliver to Agent (or, in
the case of a Participant, to the Lender granting the participation only) and the Administrative Borrower on
behalf of all Borrowers one of the following before receiving its first payment under this Agreement:

(i)

if such Lender or Participant is entitled to claim an exemption from United States
withholding tax pursuant to the portfolio interest exception, (A) a statement of the Lender or Participant,
signed under penalty of perjury, that it is not a (I) a “bank” a
s described in Section 881(c)(3)(A) of the IRC,
(II) a 10% shareholder of Administrative Borrower (within the meaning of Section 871(h)(3)(B) of the
IRC), or (III) a controlled foreign corporation related to Borrowers within the meaning of Section 864(d)(4
)
of the IRC, and (B) a properly completed and executed IRS Form W
-
8BEN, Form W
-
8BEN
-
E or Form W
-
8IMY (with proper attachments as applicable);

	
	
120

(ii)

if such Lender or Participant is entitled to claim an exemption from, or a reduction
of, withholding tax under a
United States tax treaty, a properly completed and executed copy of IRS Form
W
-
8BEN or Form W
-
8BEN
-
E, as applicable;

(iii)

if such Lender or Participant is entitled to claim that interest paid under this
Agreement is exempt from United States withholding tax bec
ause it is effectively connected with a United
States trade or business of such Lender or Participant, a properly completed and executed copy of IRS Form
W
-
8ECI;

(iv)

if such Lender or Participant is entitled to claim that interest paid under this
Agreement is
exempt from United States withholding tax because such Lender or Participant serves as an
intermediary, a properly completed and executed copy of IRS Form W
-
8IMY (including a withholding
statement and copies of the tax certification documentation for its b
eneficial owner(s) of the income paid
to the intermediary, if required based on its status provided on the Form W
-
8IMY); or

(v)

a properly completed and executed copy of any other form or forms, including IRS
Form W
-
9, as may be required under the IRC or other

laws of the United States as a condition to exemption
from, or reduction of, United States withholding or backup withholding tax including any supplementary
documentation as may be prescribed by applicable law.

(b)

Each Lender or Participant shall provide new

forms (or successor forms) upon the
expiration or obsolescence of any previously delivered forms and to promptly notify Agent and
Administrative Borrower (or, in the case of a Participant, to the Lender granting the participation only) of
any change in ci
rcumstances which would modify or render invalid any claimed exemption or reduction.

(c)

If a Lender or Participant claims an exemption from withholding tax in a jurisdiction other
than the United States, such Lender or such Participant agrees with and in favo
r of Agent and Borrowers,
to deliver to Agent and Administrative Borrower (or, in the case of a Participant, to the Lender granting the
participation only) any such form or forms, as may be required under the laws of such jurisdiction as a
condition to exe
mption from, or reduction of, foreign withholding or backup withholding tax before
receiving its first payment under this Agreement, but only if such Lender or such Participant is legally able
to deliver such forms, or the providing of or delivery of such
forms in the Lender’s reasonable judgment
would not subject such Lender to any material unreimbursed cost or expense or materially prejudice the
legal or commercial position of such Lender (or its Affiliates); provided, further, that nothing in this
Sectio
n
16.2(c)

shall require a Lender or Participant to disclose any information that it deems to be confidential
(including without limitation, its tax returns).  Each Lender and each Participant shall provide new forms
(or successor forms) upon the expiration

or obsolescence of any previously delivered forms and to promptly
notify Agent and Administrative Borrower (or, in the case of a Participant, to the Lender granting the
participation only) of any change in circumstances which would modify or render invali
d any claimed
exemption or reduction.

(d)

If a Lender or Participant claims exemption from, or reduction of, withholding tax and such
Lender or Participant sells, assigns, grants a participation in, or otherwise transfers all or part of the
Obligations of Borr
owers to such Lender or Participant, such Lender or Participant agrees to notify Agent
and Administrative Borrower (or, in the case of a sale of a participation interest, to the Lender granting the
participation only) of the percentage amount in which it i
s no longer the beneficial owner of Obligations of
Borrowers to such Lender or Participant.  To the extent of such percentage amount, Agent and
Administrative Borrower will treat such Lender’s or such Participant’s documentation provided pursuant
to
Sectio
n 16.2(a)

or
16.2(c)

as no longer valid.  With respect to such percentage amount, such Participant
or Assignee may provide new documentation, pursuant to
Section 16.2(a)

or
16.2(c)
, if applicable.
Borrowers agree that each Participant shall be entitled to

the benefits of this Section 16 with respect to its

	
	
121

participation in any portion of the Commitments and the Obligations so long as such Participant complies
with the obligations set forth in this
Section 16

with respect thereto.

(e)

If a payment made to a Len
der under any Loan Document would be subject to U.S. federal
withholding tax imposed by FATCA if such Lender were to fail to comply with the applicable due diligence
and reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(
b) of the IRC,
as applicable), such Lender shall deliver to Agent (or, in the case of a Participant, to the Lender granting
the participation only) at the time or times prescribed by law and at such time or times reasonably requested
by Agent (or, in the c
ase of a Participant, the Lender granting the participation) such documentation
prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the IRC) and such
additional documentation reasonably requested by Agent (or, in the case o
f a Participant, the Lender
granting the participation) as may be necessary for Agent or Borrowers to comply with their obligations
under FATCA and to determine that such Lender has complied with such Lender’s obligations under
FATCA or to determine the am
ount to deduct and withhold from such payment.  Solely for purposes of this
clause (e), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

16.3

Reductions
..

(a)

If a Lender or a Participant is subject to an applicable withholding ta
x, Agent (or, in the
case of a Participant, the Lender granting the participation) may withhold from any payment to such Lender
or such Participant an amount equivalent to the applicable withholding tax.  If the forms or other
documentation required by
Sec
tion 16.2(a)

or
16.2(c)

are not delivered to Agent (or, in the case of a
Participant, to the Lender granting the participation), then Agent (or, in the case of a Participant, to the
Lender granting the participation) may withhold from any payment to such L
ender or such Participant not
providing such forms or other documentation an amount equivalent to the applicable withholding tax.

(b)

If the IRS or any other Governmental Authority of the United States or other jurisdiction
asserts a claim that Agent (or, in t
he case of a Participant, to the Lender granting the participation) did not
properly withhold tax from amounts paid to or for the account of any Lender or any Participant due to a
failure on the part of the Lender or any Participant (because the appropriat
e form was not delivered, was
not properly executed, or because such Lender failed to notify Agent (or such Participant failed to notify
the Lender granting the participation) of a change in circumstances which rendered the exemption from, or
reduction of,

withholding tax ineffective, or for any other reason) such Lender shall indemnify and hold
Agent harmless (or, in the case of a Participant, such Participant shall indemnify and hold the Lender
granting the participation harmless) for all amounts paid, di
rectly or indirectly, by Agent (or, in the case of
a Participant, to the Lender granting the participation), as tax or otherwise, including penalties and interest,
and including any taxes imposed by any jurisdiction on the amounts payable to Agent (or, in
the case of a
Participant, to the Lender granting the participation only) under this
Section 16
, together with all costs and
expenses (including attorneys’ fees and expenses).  The obligation of the Lenders and the Participants under
this subsection shall
survive the payment of all Obligations and the resignation or replacement of Agent.

16.4

Refunds
..  If Agent or a Lender determines, in its sole discretion exercised in good faith, that
it has received a refund of any Indemnified Taxes to which the Loan Parties have paid additional amounts
pursuant to this
Section 16
, so long as no Default or Event of

Default has occurred and is continuing, it
shall pay over such refund to the Administrative Borrower on behalf of the Loan Parties (but only to the
extent of payments made, or additional amounts paid, by the Loan Parties under this
Section 16

with respect

to Indemnified Taxes giving rise to such a refund), net of all out
-
of
-
pocket expenses of Agent or such
Lender and without interest (other than any interest paid by the applicable Governmental Authority with
respect to such a refund);
provided
,
that
, the L
oan Parties, upon the request of Agent or such Lender, agrees
to repay the amount paid over to the Loan Parties (plus any penalties, interest or other charges, imposed by
the applicable Governmental Authority, other than such penalties, interest or other c
harges imposed as a

	
	
122

result of the willful misconduct or gross negligence of Agent or Lender hereunder as finally determined by
a court of competent jurisdiction) to Agent or such Lender in the event Agent or such Lender is required to
repay such refund to
such Governmental Authority.  Notwithstanding anything in this Agreement to the
contrary, this
Section 16

shall not be construed to require Agent or any Lender to make available its tax
returns (or any other information which it deems confidential) to Loan

Parties or any other Person or require
Agent or any Lender to pay any amount to an indemnifying party pursuant to
Section 16.4
, the payment of
which would place Agent or such Lender (or their Affiliates) in a less favorable net after
-
Tax position than
suc
h Person would have been in if the Tax subject to indemnification and giving rise to such refund had not
been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts
with respect to such Tax had never been paid.

17.

GENERAL PROVISIONS.

17.1

Effectiveness
..  This Agreement shall be binding and deemed effective when executed by the
applicable Loan Parties, Agent, and each Lender whose signature is provided for on the signature pages
hereof.

17.2

Section Headings
..  Headings and n
umbers have been set forth herein for convenience only.
Unless the contrary is compelled by the context, everything contained in each Section applies equally to
this entire Agreement.

17.3

Interpretation
..  Neither this Agreement nor any uncertainty or ambigui
ty herein shall be
construed against the Lender Group or any Borrower, whether under any rule of construction or otherwise.
On the contrary, this Agreement has been reviewed by all parties and shall be construed and interpreted
according to the ordinary m
eaning of the words used so as to accomplish fairly the purposes and intentions
of all parties hereto.

17.4

Severability of Provisions
..  Each provision of this Agreement shall be severable from every
other provision of this Agreement for the purpose of determi
ning the legal enforceability of any specific
provision.

17.5

Bank Product Providers
..  Each Bank Product Provider shall be deemed a third party
beneficiary hereof and of the provisions of the other Loan Documents for purposes of any reference in a
Loan Documen
t to the parties for whom Agent is acting.  Agent hereby agrees to act as agent for such Bank
Product Providers and, by virtue of entering into a Bank Product Agreement, the applicable Bank Product
Provider shall be automatically deemed to have appointed A
gent as its agent and to have accepted the
benefits of the Loan Documents; it being understood and agreed that the rights and benefits of each Bank
Product Provider under the Loan Documents consist exclusively of such Bank Product Provider’s being a
benefi
ciary of the Liens and security interests (and, if applicable, guarantees) granted to Agent and the right
to share in payments and collections out of the Collateral as more fully set forth herein. In addition, each
Bank Product Provider, by virtue of enter
ing into a Bank Product Agreement, shall be automatically deemed
to have agreed that Agent shall have the right, but shall have no obligation, to establish, maintain, relax, or
release reserves in respect of the Bank Product Obligations and that if reserve
s are established there is no
obligation on the part of Agent to determine or insure whether the amount of any such reserve is appropriate
or not.  In connection with any such distribution of payments or proceeds of Collateral, Agent shall be
entitled to a
ssume no amounts are due or owing to any Bank Product Provider unless such Bank Product
Provider has provided a written certification (setting forth a reasonably detailed calculation) to Agent as to
the amounts that are due and owing to it and such written

certification is received by Agent a reasonable
period of time prior to the making of such distribution.  Agent shall have no obligation to calculate the
amount due and payable with respect to any Bank Products, but may rely upon the written certification

of
the amount due and payable from the relevant Bank Product Provider.  In the absence of an updated

	
	
123

certification, Agent shall be entitled to assume that the amount due and payable to the relevant Bank Product
Provider is the amount last certified to Age
nt by such Bank Product Provider as being due and payable (less
any distributions made to such Bank Product Provider on account thereof).  Borrower may obtain Bank
Products from any Bank Product Provider, although Borrower is not required to do so.  Borrow
er
acknowledges and agrees that no Bank Product Provider has committed to provide any Bank Products and
that the providing of Bank Products by any Bank Product Provider is in the sole and absolute discretion of
such Bank Product Provider.  Notwithstanding
anything to the contrary in this Agreement or any other Loan
Document, no provider or holder of any Bank Product shall have any voting or approval rights hereunder
(or be deemed a Lender) solely by virtue of its status as the provider or holder of such agr
eements or
products or the Obligations owing thereunder, nor shall the consent of any such provider or holder be
required (other than in their capacities as Lenders, to the extent applicable) for any matter hereunder or
under any of the other Loan Document
s, including as to any matter relating to the Collateral or the release
of Collateral or Guarantors.

17.6

Debtor
-
Creditor Relationship
..  The relationship between Lenders and Agent, on the one
hand, and the Loan Parties, on the other hand, is solely that of cre
ditor and debtor.  No member of the
Lender Group has (or shall be deemed to have) any fiduciary relationship or duty to any Loan Party arising
out of or in connection with the Loan Documents or the transactions contemplated thereby, and there is no
agency
or joint venture relationship between the members of the Lender Group, on the one hand, and the
Loan Parties, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

17.7

Counterparts; Electronic Execution
..  This Agreement ma
y be executed in any number of
counterparts and by different parties on separate counterparts, each of which, when executed and delivered,
shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the
same Agree
ment.

Delivery of an executed counterpart of this Agreement by telefacsimile or other
electronic method of transmission shall be equally as effective as delivery of an original executed
counterpart of this
Execution of any such counterpart may be by means
of (a) an electronic signature that
complies with the federal Electronic Signatures in Global and National Commerce Act, as in effect from
time to time, state enactments of the Uniform Electronic Transactions Act, as in effect from time to time,
or any oth
er relevant and applicable electronic signatures law; (b) an original manual signature; or (c) a
faxed, scanned, or photocopied manual signature. Each electronic signature or faxed, scanned, or
photocopied manual signature shall for all purposes have the s
ame validity, legal effect, and admissibility
in evidence as an original manual signature.

Agent reserves the right, in its discretion, to accept, deny, or
condition acceptance of any electronic signature on this

Agreement.

Any party delivering an execut
ed
counterpart of this Agreement by
telefacsimile or other electronic method of transmission also shall
faxed,
scanned or photocopied manual signature shall also

deliver an original
manually
executed counterpart

of
this Agreement
,

but the failure to deliver

an original
manually
executed counterpart shall not affect the
validity, enforceability
,

and binding effect of this Agreement.

The foregoing shall apply to each other
Loan Document
, and any notice delivered hereunder or thereunder,

mutatis mutandis
..

17.8

Rev
ival and Reinstatement of Obligations
..  If the incurrence or payment of the Obligations
by any Borrower or Guarantor or the transfer to the Lender Group of any property should for any reason
subsequently be asserted, or declared, to be void or voidable un
der any state or federal law relating to
creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances,
preferences, or other voidable or recoverable payments of money or transfers of property (each, a “
Voidable
Transfer
”), and if the Lender Group is required to repay or restore, in whole or in part, any such Voidable
Transfer, or elects to do so upon the advice of counsel, then, as to any such Voidable Transfer, or the amount
thereof that the Lender Group is required or
elects to repay or restore, and as to all reasonable costs,
expenses, and attorneys’ fees of the Lender Group related thereto, the liability of such Borrower or
Guarantor automatically shall be revived, reinstated, and restored and shall exist as though su
ch Voidable

	
	
124

Transfer had never been made.  This provision shall survive the termination of this Agreement and the
repayment in full of the Obligations.

17.9

Confidentiality
..

(a)

Agent and Lenders each individually (and not jointly or jointly and severally) agree th
at
material, non
-
public information regarding each Loan Party and its Subsidiaries, their operations, assets,
and existing and contemplated business plans (“
Confidential Information
”) shall be treated by Agent and
Lenders in a confidential manner, and shal
l not be disclosed by Agent and Lenders to Persons who are not
parties to this Agreement, except: (i) to attorneys for and other advisors, accountants, auditors, and
consultants to any member of the Lender Group and to employees, directors and officers of
any member of
the Lender Group (the Persons in this clause (i), “
Lender Group Representatives
”) on a “need to know”
basis in connection with this Agreement and the transactions contemplated hereby and on a confidential
basis, (ii) to Subsidiaries and Affil
iates of any member of the Lender Group (including the Bank Product
Providers), provided that any such Subsidiary or Affiliate shall have agreed to receive such information
hereunder subject to the terms of this
Section 17.9
, (iii) as may be required by re
gulatory authorities so long
as such authorities are informed of the confidential nature of such information, (iv) as may be required by
statute, decision, or judicial or administrative order, rule, or regulation;
provided
,
that
, (x) prior to any
disclosur
e under this clause (iv), the disclosing party agrees to provide Lead Borrower with prior notice
thereof, to the extent that it is practicable to do so and to the extent that the disclosing party is permitted to
provide such prior notice to Lead Borrower p
ursuant to the terms of the applicable statute, decision, or
judicial or administrative order, rule, or regulation, and (y) any disclosure under this clause (iv) shall be
limited to the portion of the Confidential Information as may be required by such sta
tute, decision, or
judicial or administrative order, rule, or regulation, (v) as may be agreed to in advance in writing by Lead
Borrower, (vi) as requested or required by any Governmental Authority pursuant to any subpoena or other
legal process, provided,

that, (x) prior to any disclosure under this clause (vi) the disclosing party agrees to
provide Lead Borrower with prior written notice thereof, to the extent that it is practicable to do so and to
the extent that the disclosing party is permitted to prov
ide such prior written notice to Lead Borrower
pursuant to the terms of the subpoena or other legal process, and (y) any disclosure under this clause (vi)
shall be limited to the portion of the Confidential Information as may be required by such Government
al
Authority pursuant to such subpoena or other legal process, (vii) as to any such information that is or
becomes generally available to the public (other than as a result of prohibited disclosure by Agent or
Lenders or the Lender Group Representatives),
(viii) in connection with any assignment, participation or
pledge of any Lender’s interest under this Agreement, provided that prior to receipt of Confidential
Information any such assignee, participant, or pledgee shall have agreed in writing to receive s
uch
Confidential Information hereunder subject to the terms of this Section, (ix) in connection with any
litigation or other adversary proceeding involving parties hereto which such litigation or adversary
proceeding involves claims related to the rights o
r duties of such parties under this Agreement or the other
Loan Documents;
provided
,
that
, prior to any disclosure to any Person (other than any Loan Party, Agent,
any Lender, any of their respective Affiliates, or their respective counsel) under this
clause (ix) with respect
to litigation involving any Person (other than Loan Parties, Agent, any Lender, any of their respective
Affiliates, or their respective counsel), the disclosing party agrees to provide Lead Borrower with prior
written notice thereo
f, and (x) in connection with, and to the extent reasonably necessary for, the exercise
of any secured creditor remedy under this Agreement or under any other Loan Document.

(b)

Anything in this Agreement to the contrary notwithstanding, Agent may (i) only aft
er
consulting with the Lead Borrower, provide customary information concerning the terms and conditions of
this Agreement and the other Loan Documents to loan syndication and pricing reporting services, and (ii)
only after consulting with the Lead Borrower
, use the name, logos, and other insignia of Borrowers and the
Loan Parties and the Commitments provided hereunder in any “tombstone” or comparable advertising, on
its website or in other marketing materials of Agent.

	
	
125

17.10

Lender Group Expenses
..  Borrowers agr
ee to pay the Lender Group Expenses on the earlier
of (a) the first day of the month following the date on which such Lender Group Expenses were first
incurred, or (b) the date on which demand therefor is made by Agent.  Borrowers agree that its obligation
s
contained in this
Section 17.10

shall survive payment or satisfaction in full of all other Obligations.

17.11

Survival
..  All representations and warranties made by the Loan Parties in the Loan
Documents and in the certificates or other instruments delivered in connection with or pursuant to this
Agreement or any other Loan Document shall be considered to have been relied
upon by the other parties
hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loans
and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on
its behalf and notwith
standing that Agent, Issuing Bank, or any Lender may have had notice or knowledge
of any Default or Event of Default or incorrect representation or warranty at the time any credit is extended
hereunder, and shall continue in full force and effect as long a
s the principal of or any accrued interest on
any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any
Letter of Credit (unless
Collateralized
collateralized
) is outstanding and so long as the Commitments have
no
t expired or terminated.

17.12

Patriot Act
..  Each Lender that is subject to the requirements of the Patriot Act hereby
notifies the Loan Parties that pursuant to the requirements of the Patriot Act, it is required to obtain, verify
and record information that i
dentifies each Loan Party, which information includes the name and address
of each Loan Party and other information that will allow such Lender to identify each Loan Party in
accordance with the Patriot Act.  In addition, Agent and each Lender shall have t
he right to periodically
conduct due diligence on all Loan Parties, their senior management and key principals
and legal and
beneficial owners
..  Each Loan Party agrees to cooperate in respect of the conduct of such due diligence and
further agrees that the

reasonable costs and charges for any such due diligence by Agent shall constitute
Lender Group Expenses hereunder and be for the account of Borrowers.

17.13

Integration
..  This Agreement, together with the other Loan Documents, reflects the entire
understanding

of the parties with respect to the transactions contemplated hereby and shall not be
contradicted or qualified by any other agreement, oral or written, before the date hereof.  The foregoing to
the contrary notwithstanding, all Bank Product Agreements, if

any, are independent agreements governed
by the written provisions of such Bank Product Agreements, which will remain in full force and effect,
unaffected by any repayment, prepayments, acceleration, reduction, increase, or change in the terms of any
cred
it extended hereunder, except as otherwise expressly provided in such Bank Product Agreement.

17.14

Keepwell
..  Each Qualified ECP Guarantor party hereto hereby jointly and severally (i)
absolutely, unconditionally and irrevocably undertakes to provide such fund
s or other support as may be
needed from time to time by each other Loan Party to guaranty and otherwise honor all Obligations in
respect of Swap Obligations (
provided
,
however
, that each Qualified ECP Guarantor shall only be liable
under this
Section 17.1
4

for the maximum amount of such liability that can be hereby incurred without
rendering its obligations under this
Section 17.14
, or otherwise under the Loan Documents, voidable under
applicable law relating to fraudulent conveyance or fraudulent transfer
, and not for any greater amount).
The obligations of each Qualified ECP Guarantor under this Section 17.14 shall remain in full force and
effect until payment in full of the Obligations.  Each Qualified ECP Guarantor intends that this
Section
17.14

consti
tute, and this
Section 17.14

shall be deemed to constitute, a “keepwell, support, or other
agreement” for the benefit of each other Loan Party for all purposes of Section 1a(17)(A)(v)(II) of the
Commodity Exchange Act.

17.15

Judgment Currency
..  If, for the purp
oses of obtaining judgment in any court, it is necessary
to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate
of exchange used shall be that at which in accordance with normal banking procedures Agent co
uld

	
	
126

purchase the first currency with such other currency on the Business Day preceding that on which final
judgment is given.  The obligation of each Borrower in respect of any such sum due from it to Agent or any
Lender hereunder or under the other Loan D
ocuments shall, notwithstanding any judgment in a currency
(the “
Judgment Currency
”) other than that in which such sum is denominated in accordance with the
applicable provisions of this Agreement (the “
Agreement Currency
”), be discharged only to the exten
t that
on the Business Day following receipt by Agent or such Lender, as the case may be, of any sum adjudged
to be so due in the Judgment Currency, Agent or such Lender, as the case may be, may in accordance with
normal banking procedures purchase the Agr
eement Currency with the Judgment Currency. If the amount
of the Agreement Currency so purchased is less than the sum originally due to Agent or any Lender from
any Borrower in the Agreement Currency, such Borrower agrees, as a separate obligation and
notw
ithstanding any such judgment, to indemnify Agent or such Lender, as the case may be, against such
loss.  If the amount of the Agreement Currency so purchased is greater than the sum originally due to Agent
or any Lender in such currency, Agent or such Len
der, as the case may be, agrees to return the amount of
any excess to such Borrower (or to any other Person who may be entitled thereto under applicable law).

17.16

Parent as Administrative Agent for Borrowers
..  Each Loan Party hereby irrevocably
appoints Paren
t as the borrowing agent and attorney
-
in
-
fact for all Loan Parties (“
Administrative
Borrower
”) which appointment shall remain in full force and effect unless and until Agent shall have
received prior written notice signed by each Loan Party that such appoi
ntment has been revoked and that
another Loan Party has been appointed Administrative Borrower (which appointment is subject to the
approval of Agent not to be unreasonably withheld).  Each Loan Party hereby irrevocably appoints and
authorizes Administrati
ve Borrower (a) to provide Agent with all notices with respect to Loans and Letters
of Credit obtained for the benefit of any Borrower and all other notices and instructions under this
Agreement and the other Loan Documents (and any notice or instruction p
rovided by Administrative
Borrower shall be deemed to be given by the Loan Parties hereunder and shall bind each Loan Party), (b)
to receive notices and instructions from members of the Lender Group (and any notice or instruction
provided by any member of
the Lender Group to Administrative Borrower in accordance with the terms
hereof shall be deemed to have been given to each Loan Party), and (c) to take such action as Administrative
Borrower deems appropriate on its behalf to obtain Loans and Letters of Cr
edit and to exercise such other
powers as are reasonably incidental thereto to carry out the purposes of this Agreement. It is understood
that the handling of the Loan Account and Collateral in a combined fashion, as more fully set forth herein,
is done so
lely as an accommodation to the Loan Parties in order to utilize the collective borrowing powers
of Borrowers in the most efficient and economical manner and at their request, and that Lender Group shall
not incur liability to any Loan Party as a result he
reof.  Each Loan Party expects to derive benefit, directly
or indirectly, from the handling of the Loan Accounts and the Collateral in a combined fashion since the
successful operation of each Loan Party is dependent on the continued successful performance

of the
integrated group.  To induce the Lender Group to do so, and in consideration thereof, each Loan Party
hereby jointly and severally agrees to indemnify each member of the Lender Group and hold each member
of the Lender Group harmless against any and

all liability, expense, loss or claim of damage or injury, made
against the Lender Group by any Loan Party or by any third party whosoever, arising from or incurred by
reason of (i) the handling of the Loan Accounts and Collateral of Loan Parties as herei
n provided, or (ii)
the Lender Group’s relying on any instructions of Lead Borrower, except that Loan Parties will have no
liability to the relevant Agent
-
Related Person or Lender
-
Related Person under this
Section
17.16
17.21

with
respect to any liability t
hat has been finally determined by a court of competent jurisdiction to have resulted
solely from the gross negligence, bad faith or willful misconduct of such Agent
-
Related Person or Lender
-
Related Person, as the case may be.

	
	
127

17.18

“Know Your Customer” Checks
..  Without limiting any other provision set forth in this
Agreement:

(a)

If (i) the introduction of or any change in (or in the interpretation, administration or
application of) any law or regulation made after the date of this Agreement; (ii) any change in t
he status of
any Loan Party after the date of this Agreement; or (iii) a proposed assignment or transfer by a Lender of
any of its rights and obligations under this Agreement to a party that is not a Lender prior to such assignment
or transfer, obliges Age
nt or any Lender (or, in the case of clause (iii) above, any prospective new Lender)
to comply with “know your customer” or similar identification procedures in circumstances where the
necessary information is not already available to it, each Loan Party s
hall promptly upon the request of
Agent or any Lender supply, or procure the supply of, such documentation and other evidence as is
reasonably requested by Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the
case of the event

described in clause (iii) above, on behalf of any prospective new Lender) in order for
Agent, such Lender or, in the case of the event described in clause (iii) above, any prospective new Lender
to carry out and be satisfied it has complied with all neces
sary “know your customer” or other similar
checks under all applicable laws and regulations pursuant to the transactions contemplated in the Loan
Documents.

(b)

Each Lender shall promptly upon the request of Agent supply, or procure the supply of,
such documen
tation and other evidence as is reasonably requested by Agent (for itself) in order for Agent
to carry out and be satisfied it has complied with all necessary “know your customer” or other similar
checks under all applicable laws and regulations pursuant t
o the transactions contemplated in the Loan
Documents.

17.19

Acknowledgment
Acknowledgement

and Consent to Bail
-
In of
EEA
Affected

Financial
Institutions
..  Notwithstanding anything to the contrary in any Loan Document or in any other agreement,
arrangement or und
erstanding among any such parties, each party hereto acknowledges that any liability of
any
EEA
Affected

Financial Institution arising under any Loan Document, to the extent such liability is
unsecured, may be subject to the write
-
down and conversion powers

of
an EEA
the applicable

Resolution
Authority and agrees and consents to, and acknowledges and agrees to be bound by:

(a)

the application of any Write
-
Down and Conversion Powers by
an EEA
the applicable

Resolution Authority to any such liabilities arising hereu
nder which may be payable to it by any party
hereto that is an
EEA
Affected

Financial Institution; and

(b)

the effects of any Bail
-
In Action on any such liability, including, if applicable:

(i)

a reduction in full or in part or cancellation of any such liability;

(ii)

a conversion of all, or a portion of, such liability into shares or other instruments of
ownership in such
EEA
Affected

Financial Institution, its parent undertaking, or a bridge institution that
may be issued to it or otherwise conferred on it, and that su
ch shares or other instruments of ownership will
be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other
Loan Document; or

(iii)

the variation of the terms of such liability in connection with the exercise of
the
Write
-
Down and Conversion Powers of
any EEA
the applicable

Resolution Authority.

17.20

Conflicts with Intercreditor Agreement
..  In the event of any conflict between the terms of
the Intercreditor Agreement and the terms of any other Loan Documents, the terms

of the Intercreditor
Agreement shall control.

	
	
128

17.21

Acknowledgement Regarding Any Supported QFCs
.. To the extent that the Loan
Documents provide support, through a guarantee or otherwise, for Hedge Agreements or any other
agreement or instrument that is a QFC (
such support, “
QFC Credit Support
” and each such QFC a
“
Supported QFC
”), the parties acknowledge and agree as follows with respect to the resolution power of
the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of
the
Dodd
-
Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated
thereunder, the “
U.S. Special Resolution Regimes
”) in respect of such Supported QFC and QFC Credit
Support (with the provisions below applicable
notwithstanding that the Loan Documents and any Supported
QFC may in fact be stated to be governed by the laws of the State of New York or of the United States or
any other state of the United States): In the event a Covered Entity that is party to a Suppo
rted QFC (each,
a “
Covered Party
”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer
of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or
under such Supported QFC and suc
h QFC Credit Support, and any rights in property securing such
Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent
as the transfer would be effective under the U.S. Special Resolution Regime if the Support
ed QFC and such
QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws
of the United States or a state of the United States.  In the event a Covered Party or a BHC Act Affiliate of
a Covered Party becomes su
bject to a proceeding under a U.S. Special Resolution Regime, Default Rights
under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support
that may be exercised against such Covered Party are permitted to be exercised
to no greater extent than
such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC
and the Loan Documents were governed by the laws of the United States or a state of the United States.
Without limitation of the

foregoing, it is understood and agreed that rights and remedies of the parties with
respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a
Supported QFC or any QFC Credit Support.

17.22

Erroneous Payments
..

(a)

Eac
h Lender, each Issuing Bank, each other Bank Product Provider and any other
party hereto hereby severally agrees that if (i) Agent notifies

(which such notice shall be conclusive absent
manifest error) such Lender or Issuing Bank or any Bank Product Provid
er (or the Lender which is an
Affiliate of a Lender, Issuing Bank or Bank Product Provider) or any other Person that has received funds
from Agent or any of its Affiliates, either for its own account or on behalf of a Lender, Issuing Bank or
Bank Product P
rovider (each such recipient, a “Payment Recipient”) that Agent has determined in its sole
discretion that any funds received by such Payment Recipient were erroneously transmitted to, or otherwise
erroneously or mistakenly received by, such Payment Recipi
ent (whether or not known to such Payment
Recipient) or (ii) any Payment Recipient

receives any payment from Agent (or any of its Affiliates) (x) that
is in a different amount than, or on a different date from, that specified in a notice of payment, prepay
ment
or repayment sent by Agent (or any of its Affiliates) with respect to such payment, prepayment or
repayment, as applicable, (y) that was not preceded or accompanied by a notice of payment, prepayment or
repayment sent by Agent (or any of its Affiliate
s) with respect to such payment, prepayment or repayment,
as applicable, or (z) that such Payment Recipient otherwise becomes aware was transmitted or received in
error or by mistake (in whole or in part) then, in each case, an error in payment shall be pr
esumed to have
been made (any such amounts specified in clauses (i) or (ii) of this Section 17.21(a), whether received as a
payment, prepayment or repayment of principal, interest, fees, distribution or otherwise; individually and
collectively, an “Erroneo
us
Payment
”), then, in each case, such Payment Recipient is deemed to have
knowledge of such error at the time of its receipt of such Erroneous Payment; provided that nothing in this
Section shall require Agent to provide any of the notices specified in cl
auses (i) or (ii) above. Each Payment
Recipient agrees that it shall not assert any right or claim to any Erroneous Payment, and hereby waives
any claim, counterclaim, defense or right of set
-
off or recoupment with respect to any demand, claim or

	
	
129

countercl
aim by Agent for the return of any Erroneous Payments, including without limitation waiver of
any defense based on “discharge for value” or any similar doctrine.

(b)

Without limiting the immediately preceding clause (a), each Payment Recipient agrees that,
in

the case of clause (a)(ii) above, it shall promptly notify Agent in writing of such occurrence.

(c)

In the case of either clause (a)(i) or (a)(ii) above, such Erroneous Payment shall at all times
remain the property of Agent and shall be segregated by the Pay
ment Recipient and held in trust for the
benefit of Agent, and upon demand from Agent such Payment Recipient shall (or, shall cause any Person
who received any portion of an Erroneous Payment on its behalf to), promptly, but in all events no later
than one

Business Day thereafter, return to Agent the amount of any such Erroneous Payment (or portion
thereof) as to which such a demand was made
in same day funds and in the currency so received, together
with interest thereon in respect of each day from and inc
luding the date such
Erroneous
Payment (or portion
thereof) was received by such Payment Recipient to the date such amount is repaid to Agent at the greater
of the Federal Funds Rate and a rate determined by Agent in accordance with banking industry rules
on
interbank compensation from time to time in effect.

(d)

In the event that an Erroneous Payment (or portion thereof) is not recovered by Agent for
any reason, after demand therefor by Agent in accordance with immediately preceding clause (c), from any
Lender

that is a Payment Recipient or an Affiliate of a Payment Recipient (such unrecovered amount as to
such Lender, an “Erroneous Payment Return Deficiency”), then at the sole discretion of Agent and upon
Agent’s written notice to such Lender (i) such Lender s
hall be deemed to have made a cashless assignment
of the full face amount of the portion of its Loans (but not its Commitments) with respect to which such
Erroneous Payment was made (the “Erroneous Payment Impacted Loans”) to Agent or, at the option of
Age
nt, Agent’s applicable lending affiliate (such assignee, the “Agent Assignee”) in an amount that is equal
to the Erroneous Payment Return Deficiency (or such lesser amount as Agent may specify) (such
assignment of the Loans (but not Commitments) of the Err
oneous Payment Impacted Loans, the “Erroneous
Payment Deficiency Assignment”) plus any accrued and unpaid interest on such assigned amount, without
further consent or approval of any party hereto and without any payment by Agent Assignee as the assignee
of

such Erroneous Payment Deficiency Assignment.  Without limitation of its rights hereunder, following
the effectiveness of the Erroneous Payment Deficiency Assignment, Agent may make a cashless
reassignment to the applicable assigning Lender of any Erroneo
us Payment Deficiency Assignment at any
time by written notice to the applicable assigning Lender and upon such reassignment all of the Loans
assigned pursuant to such Erroneous Payment Deficiency Assignment shall be reassigned to such Lender
without any r
equirement for payment or other consideration.  The parties hereto acknowledge and agree
that (1) any assignment contemplated in this clause (d) shall be made without any requirement for any
payment or other consideration paid by the applicable assignee or

received by the assignor, (2) the
provisions of this clause (d) shall govern in the event of any conflict with the terms and conditions of
Section 13 and (3) Agent may reflect such assignments in the Register without further consent or action by
any other

Person.

(e)

Each party hereto hereby agrees that (x) in the event an Erroneous Payment (or portion
thereof) is not recovered from any Payment Recipient that has received such Erroneous Payment (or portion
thereof) for any reason, Agent (1) shall be subrogated

to all the rights of such Payment Recipient and (2) is
authorized to set off, net and apply any and all amounts at any time owing to such Payment Recipient under
any Loan Document, or otherwise payable or distributable by Agent to such Payment Recipient f
rom any
source, against any amount due to Agent under this Section 17.21 or under the indemnification provisions
of this Agreement, (y) the receipt of an Erroneous Payment by a Payment Recipient shall not for the purpose
of this Agreement be treated as a p
ayment, prepayment, repayment, discharge or other satisfaction of any
Obligations owed by the Borrowers or any other Loan Party, except, in each case, to the extent such
Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment
that is, comprised

	
	
130

of funds received by Agent from the Borrowers or any other Loan Party for the purpose of making for a
payment on the Obligations and (z) to the extent that an Erroneous Payment was in any way or at any time
credited as payment or satisfa
ction of any of the Obligations, the Obligations or any part thereof that were
so credited, and all rights of the Payment Recipient, as the case may be, shall be reinstated and continue in
full force and effect as if such payment or satisfaction had never
been received.

(f)

Each party’s obligations under this Section 17.21 shall survive the resignation or
replacement of Agent or any transfer of right or obligations by, or the replacement of, a Lender, the
termination of the Commitments or the repayment, satisfa
ction or discharge of all Obligations (or any
portion thereof) under any Loan Document.

(g)

The provisions of this Section 17.21 to the contrary notwithstanding, (i) nothing in this
Section 17.21 will constitute a waiver or release of any claim of any part
y hereunder arising from any
Payment Recipient’s receipt of an Erroneous Payment and (ii) there will only be deemed to be a recovery
of the Erroneous Payment to the extent that Agent has received payment from the Payment Recipient in
immediately available
funds the Erroneous Payment Return Deficiency, whether directly from the Payment
Recipient, as a result of the exercise by Agent of its rights of subrogation or set off as set forth above in
clause (e) or as a result of the receipt by Agent Assignee of a p
ayment of the outstanding principal balance
of the Loans assigned to Agent Assignee pursuant to an Erroneous Payment Deficiency Assignment, but
excluding any other amounts in respect thereof (it being agreed that any payments of interest, fees, expenses
or

other amounts (other than principal) received by Agent Assignee in respect of the Loans assigned to
Agent Assignee pursuant to an Erroneous Payment Deficiency Assignment shall be the sole property of
Agent Assignee and shall not constitute a recovery of t
he Erroneous Payment).

[Signature pages to follow.]

	
	
7109971.6

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

INDEPENDENCE CONTRACT DRILLING, INC.

By:_____________________________

Name: Philip A.
Choyce

Title: Executive Vice President, Chief

Financial Officer, Treasurer and Secretary

PATRIOT SARATOGA MERGER SUB, LLC
, as
effective prior to the Merger

By:_____________________________

Name: Philip A. Choyce

Title: President and Secretary

ICD OPERATING LLC
, as successor in interest to
Patriot Saratoga Merger Sub, LLC and as effective
following consummation of the Merger

By:_____________________________

Name: Philip A. Choyce

Title: President and Secretary

	
	
7109971.6

AGENT, LENDER,

AND ISSUING BANK:

WELLS FARGO BANK, NATIONAL
ASSOCIATION

By:_____________________________

Name: __________________________

Title: ___________________________

	
	Schedule 4.1(b)

Capitalization of Loan Parties

Loan Party

Classes and # of Authorized
Equity Interests

No. Shares/ % Interest
Issued and Outstanding

Independence Contract
Drilling,
Inc.
1

100,000,000
250,000,000

shares
of common stock

$157,500,000 2026 Senior
Secured PIK Toggle
Convertible Notes

13,617,000 shares issued and
outstanding (publicly traded)

75,005,422 owned by public
holders
Owned

50.5% by MSD
Partners and affiliates and
49.5% by Glendon Capital
Management LLC

Patriot Saratoga Merger
Sub,
Sidewinder Drilling

LLC

100% membership interests

100% of membership interests
held by
ICD prior to
Parent
following

the Merger

ICD Operating LLC

100% membership interests

100% of membership interests
held by ICD following the Merger

1

This amount will be adjusted upward by the vesting of outstanding equity awards underlying awards granted under the
Company’s 2012 Omnibus Long
-
Term Incentive Plan or other stock
-
compensation plan that may be approved in the
future by the Company’s Board
of Directors.

	
	

Schedule 4.1(c)

Capitalization of Subsidiaries of Loan Parties

Subsidiary Name

# and Classes of Authorized
Equity Interests

% of Interests held by Loan
Parties

Patriot Saratoga Merger
Sub,
Sidewinder Drilling

LLC

100% membership interests

100% of membership interests
held by
ICD prior to
Parent
following

the Merger

ICD Operating LLC

100% membership interests

100% of membership interests
held by ICD following the Merger

As of the
Closing
Amendment No. 5 Effective

Date, there are no
Non
-
Loan party
non
-
Loan Party

subsidiaries.

	
	

Schedule 4.1(d)

Subscriptions, Options, Warrants, Calls

ICD
Parent

has issued options
, restricted stock units, stock appreciation rights

to purchase common
stock as described in the footnotes to
ICD’s
Parent’s

audited financial statement for the year ended
December 31,
2017
2022 and unaudited financial statements for the six months ended June 30, 2022
..

ICD will grant restricted stock units to Anthony Gallegos at closing of the Merger, as described in his
employment agreement on file with the Securities and Exchange Commission
..

ICD will grant restricted stock units in the amount of $100,000 to James Minmier at closing of the
Merger.

Grants of restricted stock and restricted stock units approved by
ICD’s
Parent’s

Board of Directors
under the Company’s
2012
2019

Omnibus Long
-
Term I
ncentive Plan, or other plans approved by
ICD’s
Parent’s

Board of Directors and stockholders.

Shares  to be issued upon conversion of the Company’s 2026  Senior Secured PIK Toggle Convertible
Notes.

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